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Stocks · Health care · Services-General Medical & Surgical Hospitals, NEC

HCA Healthcare

HCA Clue Score47
United States Fiscal year ends December CIK 0000860730
$451.09 +1.37% Close, 9 Oct 2026
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Price $451.09 +89.92% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueNet income
Fiscal year 2016Revenue41.49Net income2.89EPS, diluted7.30Fiscal year 2017Revenue43.61 +5.1%Net income2.22 −23.3%EPS, diluted5.95 −18.5%Fiscal year 2018Revenue46.68 +7.0%Net income3.79 +70.9%EPS, diluted10.66 +79.2%Fiscal year 2019Revenue51.34 +10.0%Net income3.51 −7.4%EPS, diluted10.07 −5.5%Fiscal year 2020Revenue51.53 +0.4%Net income3.75 +7.1%EPS, diluted10.93 +8.5%Fiscal year 2021Revenue58.75 +14.0%Net income6.96 +85.3%EPS, diluted21.16 +93.6%Fiscal year 2022Revenue60.23 +2.5%Net income5.64 −18.9%EPS, diluted19.15 −9.5%Fiscal year 2023Revenue64.97 +7.9%Net income5.24 −7.1%EPS, diluted18.97 −0.9%Fiscal year 2024Revenue70.60 +8.7%Net income5.76 +9.9%EPS, diluted22.00 +16.0%Fiscal year 2025Revenue75.60 +7.1%Net income6.78 +17.8%EPS, diluted28.33 +28.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 41.49 43.61 46.68 51.34 51.53 58.75 60.23 64.97 70.60 75.60
Growth +5.1% +7.0% +10.0% +0.4% +14.0% +2.5% +7.9% +8.7% +7.1%
Net income 2.89 2.22 3.79 3.51 3.75 6.96 5.64 5.24 5.76 6.78
Growth −23.3% +70.9% −7.4% +7.1% +85.3% −18.9% −7.1% +9.9% +17.8%
EPS, diluted 7.30 5.95 10.66 10.07 10.93 21.16 19.15 18.97 22.00 28.33
Growth −18.5% +79.2% −5.5% +8.5% +93.6% −9.5% −0.9% +16.0% +28.8%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Net margin
Fiscal year 2016Net margin7.0%Free cash flow margin7.0%Fiscal year 2017Net margin5.1%Free cash flow margin5.5%Fiscal year 2018Net margin8.1%Free cash flow margin6.8%Fiscal year 2019Net margin6.8%Free cash flow margin6.7%Fiscal year 2020Net margin7.3%Free cash flow margin12.4%Fiscal year 2021Net margin11.8%Free cash flow margin9.2%Fiscal year 2022Net margin9.4%Free cash flow margin6.9%Fiscal year 2023Net margin8.1%Free cash flow margin7.2%Fiscal year 2024Net margin8.2%Free cash flow margin8.0%Fiscal year 2025Net margin9.0%Free cash flow margin10.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net margin 7.0% 5.1% 8.1% 6.8% 7.3% 11.8% 9.4% 8.1% 8.2% 9.0%
Free cash flow margin 7.0% 5.5% 6.8% 6.7% 12.4% 9.2% 6.9% 7.2% 8.0% 10.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow5.65Capital expenditure−2.76Free cash flow2.89Buybacks−2.75Fiscal year 2017Operating cash flow5.43Capital expenditure−3.02Free cash flow2.41 −16.7%Buybacks−2.05Dividends paid0.00Fiscal year 2018Operating cash flow6.76Capital expenditure−3.57Free cash flow3.19 +32.2%Buybacks−1.53Dividends paid−0.49Fiscal year 2019Operating cash flow7.60Capital expenditure−4.16Free cash flow3.44 +8.0%Buybacks−1.03Dividends paid−0.55Fiscal year 2020Operating cash flow9.23Capital expenditure−2.84Free cash flow6.40 +85.7%Buybacks−0.44Dividends paid−0.15Fiscal year 2021Operating cash flow8.96Capital expenditure−3.58Free cash flow5.38 −15.9%Buybacks−8.22Dividends paid−0.62Fiscal year 2022Operating cash flow8.52Capital expenditure−4.40Free cash flow4.13 −23.3%Buybacks−7.00Dividends paid−0.65Fiscal year 2023Operating cash flow9.43Capital expenditure−4.74Free cash flow4.69 +13.6%Buybacks−3.81Dividends paid−0.66Fiscal year 2024Operating cash flow10.51Capital expenditure−4.88Free cash flow5.64 +20.3%Buybacks−6.04Dividends paid−0.69Fiscal year 2025Operating cash flow12.64Capital expenditure−4.94Free cash flow7.69 +36.4%Buybacks−10.07Dividends paid−0.68
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 5.65 5.43 6.76 7.60 9.23 8.96 8.52 9.43 10.51 12.64
Capital expenditure −2.76 −3.02 −3.57 −4.16 −2.84 −3.58 −4.40 −4.74 −4.88 −4.94
Free cash flow 2.89 2.41 3.19 3.44 6.40 5.38 4.13 4.69 5.64 7.69
Growth −16.7% +32.2% +8.0% +85.7% −15.9% −23.3% +13.6% +20.3% +36.4%
Buybacks −2.75 −2.05 −1.53 −1.03 −0.44 −8.22 −7.00 −3.81 −6.04 −10.07
Dividends paid n/a 0.00 −0.49 −0.55 −0.15 −0.62 −0.65 −0.66 −0.69 −0.68

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.65Total debt31.38Net cash (debt)−30.73Shareholders’ equity−7.30Fiscal year 2017Cash0.73Total debt33.06Net cash (debt)−32.33Shareholders’ equity−6.81Fiscal year 2018Cash0.50Total debt32.82Net cash (debt)−32.32Shareholders’ equity−4.95Fiscal year 2019Cash0.62Total debt33.72Net cash (debt)−33.10Shareholders’ equity−2.81Fiscal year 2020Cash1.79Total debt31.00Net cash (debt)−29.21Shareholders’ equity0.57Debt to equity54.20Fiscal year 2021Cash1.45Total debt34.58Net cash (debt)−33.13Shareholders’ equity−0.93Fiscal year 2022Cash0.91Total debt38.08Net cash (debt)−37.18Shareholders’ equity−2.77Fiscal year 2023Cash0.94Total debt39.59Net cash (debt)−38.66Shareholders’ equity−1.77Fiscal year 2024Cash1.93Total debt43.03Net cash (debt)−41.10Shareholders’ equity−2.50Fiscal year 2025Cash1.04Total debt41.60Net cash (debt)−40.56Shareholders’ equity−6.03
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.65 0.73 0.50 0.62 1.79 1.45 0.91 0.94 1.93 1.04
Total debt 31.38 33.06 32.82 33.72 31.00 34.58 38.08 39.59 43.03 41.60
Net cash (debt) −30.73 −32.33 −32.32 −33.10 −29.21 −33.13 −37.18 −38.66 −41.10 −40.56
Shareholders’ equity −7.30 −6.81 −4.95 −2.81 0.57 −0.93 −2.77 −1.77 −2.50 −6.03
Debt to equity n/a n/a n/a n/a 54.20 n/a n/a n/a n/a n/a

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
41.49 43.61 46.68 51.34 51.53 58.75 60.23 64.97 70.60 75.60
Growth +5.1% +7.0% +10.0% +0.4% +14.0% +2.5% +7.9% +8.7% +7.1%
0.34 0.34 0.34 0.37 0.42 0.34 0.31 0.35 0.42 0.55
4.81 4.38 5.34 5.24 5.43 9.83 8.58 7.71 8.52 9.83
1.38 1.64 0.95 1.10 1.04 2.11 1.75 1.62 1.87 2.05
2.89 2.22 3.79 3.51 3.75 6.96 5.64 5.24 5.76 6.78
Growth −23.3% +70.9% −7.4% +7.1% +85.3% −18.9% −7.1% +9.9% +17.8%
Per share
7.53 6.12 10.90 10.27 11.10 21.52 19.43 19.25 22.27 28.70
7.30 5.95 10.66 10.07 10.93 21.16 19.15 18.97 22.00 28.33
Growth −18.5% +79.2% −5.5% +8.5% +93.6% −9.5% −0.9% +16.0% +28.8%
383.6 362.3 347.3 341.2 338.3 323.3 290.3 272.4 258.6 236.4
395.9 372.2 355.3 348.2 343.6 328.8 294.7 276.4 261.8 239.5
Growth −6.0% −4.5% −2.0% −1.3% −4.3% −10.4% −6.2% −5.3% −8.5%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 8.0% a year over five years, and earnings per share grew 21.0% a year.
  • The diluted share count fell 30.3% in five years, so buybacks did some of the work per share.
  • Profitable in every one of the 10 years on file.