Saturday 17 October 2026
Export HCA’s income statement to Excel — free account
HCA Healthcare, Inc.
HCA Healthcare Medical Care Facilities
HCA Healthcare, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $75.6 billion, up 7.08% from fiscal 2024. In the quarter to June 2026, revenue grew 8.73%, EPS grew 11.6%, free cash flow fell 63.6% and total debt rose 11.8%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for five consecutive years, revenue growth for ten, operating cash flow growth for three.
457.58
10.92
−2.33%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
10.17 | 15.07 | 11.69 | 14.68 | 15.05 | 12.09 | 12.65 | 14.51 | 13.66 | 16.45 |
Piotroski F-Score |
8 | 6 | 7 | 7 | 6 | 7 | 5 | 7 | 8 | 7 |
P/S ratio |
0.69 | 0.74 | 0.93 | 0.98 | 1.08 | 1.41 | 1.17 | 1.15 | 1.10 | 1.46 |
Altman Z-Score |
2.10 | 2.08 | 2.29 | 2.35 | 2.46 | 2.89 | 2.54 | 2.54 | 2.54 | 2.80 |
Altman Z″-Score (non-manufacturers) |
1.05 | 1.10 | 1.13 | 1.40 | 1.66 | 1.81 | 1.49 | 1.36 | 1.22 | 0.92 |
P/FCF ratio |
9.87 | 13.45 | 13.56 | 14.64 | 8.70 | 15.43 | 17.11 | 16.00 | 13.76 | 14.35 |
Beneish M-Score |
(2.81) | (2.73) | (2.71) | (2.71) | (2.97) | (2.46) | (2.57) | (2.66) | (2.73) | (2.87) |
P/Operating CF |
16.81 | 18.70 | 19.87 | 20.13 | (15.53) | 34.00 | 27.94 | 28.05 | 30.33 | 46.79 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 78 |
P/B ratio |
0.00 | 0.00 | 0.00 | 0.00 | 19.24 | 55.79 | 0.00 | 70.75 | 139.86 | 0.00 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
1.43 | 1.48 | 1.62 | 1.63 | 1.65 | 1.98 | 1.79 | 1.75 | 1.68 | 2.06 |
EV/EBITDA |
7.19 | 7.84 | 8.41 | 8.45 | 8.43 | 9.17 | 8.91 | 8.91 | 8.53 | 9.98 |
EV/Operating CF |
10.49 | 11.93 | 11.17 | 10.99 | 9.19 | 12.97 | 12.65 | 12.05 | 11.29 | 12.33 |
EV/FCF |
20.50 | 26.86 | 23.70 | 24.26 | 13.26 | 21.59 | 26.12 | 24.25 | 21.05 | 20.26 |
Quick Ratio |
1.11 | 1.17 | 0.96 | 1.03 | 1.02 | 1.00 | 0.99 | 0.86 | 0.84 | 0.73 |
Current Ratio |
1.56 | 1.62 | 1.35 | 1.44 | 1.42 | 1.41 | 1.38 | 1.18 | 1.08 | 0.97 |
Net Debt/EBITDA |
3.72 | 3.91 | 3.60 | 3.35 | 2.90 | 2.61 | 3.07 | 3.03 | 2.95 | 2.91 |
Debt/Assets |
92.94% | 90.34% | 83.71% | 74.84% | 65.29% | 68.15% | 72.63% | 70.44% | 72.31% | 76.57% |
Debt/Equity |
(5.57) | (6.62) | (11.25) | (59.68) | 10.72 | 23.22 | (521.70) | 37.35 | 77.53 | (16.78) |
Asset Turnover |
1.25 | 1.24 | 1.23 | 1.22 | 1.11 | 1.20 | 1.17 | 1.20 | 1.22 | 1.26 |
Operating CF/Net income |
1.96 | 2.45 | 1.79 | 2.17 | 2.46 | 1.29 | 1.51 | 1.80 | 1.83 | 1.86 |
Capex/Depreciation |
(1.38) | (1.39) | (1.55) | (1.58) | (1.03) | (1.24) | (1.47) | (1.52) | (1.46) | (1.39) |
Interest Coverage |
3.66 | 3.61 | 3.80 | 3.98 | 4.62 | 6.25 | 5.23 | 4.98 | 5.13 | 5.36 |
| (49.49%) | (41.70%) | (95.72%) | (201.26%) | 322.65% | 317.55% | 797.03% | 1,062.21% | 713.31% | (612.27%) | |
| 8.69% | 6.30% | 9.99% | 8.32% | 8.11% | 14.16% | 10.94% | 9.65% | 9.95% | 11.28% | |
ROIC |
15.57% | 13.95% | 14.18% | 13.95% | 14.24% | 17.68% | 15.33% | 15.18% | 15.86% | 17.64% |
Return on Tangible Assets |
14.74% | 10.21% | 16.91% | 13.40% | 13.99% | 24.82% | 19.25% | 17.48% | 18.79% | 22.19% |
Average Days of Receivables |
51.25 | 54.41 | 53.09 | 52.47 | 49.94 | 50.29 | 53.88 | 55.95 | 55.58 | 52.47 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
45.55% | 45.99% | 45.90% | 45.89% | 46.33% | 45.58% | 45.96% | 45.39% | 44.15% | 43.46% |
Intangible Assets out of Total Assets |
0.20 | 0.20 | 0.20 | 0.18 | 0.18 | 0.19 | 0.18 | 0.18 | 0.17 | 0.17 |
Share Based Compensation of Revenue |
0.60% | 0.62% | 0.57% | 0.68% | 0.70% | 0.75% | 0.57% | 0.40% | 0.51% | 0.53% |
Graham Net Nets |
(1.06) | (0.97) | (0.74) | (0.68) | (0.58) | (0.43) | (0.55) | (0.54) | (0.55) | (0.43) |
Graham Number |
0.00 | 0.00 | 0.00 | 0.00 | 45.85 | 46.93 | 0.00 | 40.76 | 32.57 | 0.00 |
Earnings Yield |
9.83% | 6.64% | 8.56% | 6.81% | 6.65% | 8.27% | 7.91% | 6.89% | 7.32% | 6.08% |
Free Cash Flow Yield |
10.13% | 7.43% | 7.38% | 6.83% | 11.50% | 6.48% | 5.84% | 6.25% | 7.26% | 6.97% |
Revenue per Share |
108.16 | 120.38 | 134.40 | 150.45 | 152.34 | 181.72 | 207.45 | 238.50 | 273.02 | 319.78 |
Operating CF per Share |
14.74 | 14.98 | 19.47 | 22.28 | 27.29 | 27.71 | 29.35 | 34.62 | 40.66 | 53.45 |
Capex per Share |
(7.20) | (8.32) | (10.29) | (12.19) | (8.38) | (11.06) | (15.14) | (17.42) | (18.85) | (20.91) |
Free Cash Flow per Share |
7.54 | 6.65 | 9.18 | 10.09 | 18.91 | 16.65 | 14.21 | 17.21 | 21.81 | 32.54 |
Cash per Share |
1.68 | 2.02 | 1.45 | 1.82 | 5.30 | 4.49 | 3.13 | 3.43 | 7.47 | 4.40 |
Shareholders Equity per Share |
(14.68) | (13.79) | (8.40) | (1.66) | 8.55 | 4.61 | (0.25) | 3.89 | 2.15 | (11.72) |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
(14.68) | (13.79) | (8.40) | (1.66) | 8.55 | 4.61 | (0.25) | 3.89 | 2.15 | (11.72) |
Free Cash Flow |
2,893.00 | 2,411.00 | 3,188.00 | 3,444.00 | 6,397.00 | 5,382.00 | 4,127.00 | 4,687.00 | 5,639.00 | 7,692.00 |
Working Capital |
3,252.00 | 3,819.00 | 2,644.00 | 3,439.00 | 3,629.00 | 3,960.00 | 3,741.00 | 2,272.00 | 1,237.00 | (567.00) |
Capital Expenditures |
(2,760.00) | (3,015.00) | (3,573.00) | (4,158.00) | (2,835.00) | (3,577.00) | (4,395.00) | (4,744.00) | (4,875.00) | (4,944.00) |
Net Current Asset Value |
(30,305.00) | (31,611.00) | (31,912.00) | (34,427.00) | (32,265.00) | (35,711.00) | (38,868.00) | (40,224.00) | (42,544.00) | (47,708.00) |
EV/EBIT |
9.48 | 10.61 | 11.32 | 11.50 | 11.60 | 11.87 | 11.85 | 11.78 | 11.23 | 12.94 |
Capex to Sales |
0.07 | 0.07 | 0.08 | 0.08 | 0.06 | 0.06 | 0.07 | 0.07 | 0.07 | 0.07 |
Price to Operating Income |
4.57 | 5.31 | 6.48 | 6.95 | 7.60 | 8.48 | 7.76 | 7.77 | 7.34 | 9.16 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.11 | 0.11 | 0.11 |
Cash ROIC |
10.96% | 8.37% | 10.49% | 10.20% | 17.92% | 14.34% | 10.60% | 11.27% | 12.39% | 17.18% |
Accounts Receivable Turnover |
7.08 | 7.08 | 7.02 | 7.25 | 7.14 | 7.76 | 7.09 | 6.89 | 6.82 | 6.99 |
Accounts Payable Turnover |
3.09 | 2.97 | 2.98 | 3.09 | 2.60 | 2.48 | 2.24 | 2.34 | 2.53 | 2.54 |
Inventory Turnover |
4.71 | 4.76 | 4.67 | 4.74 | 4.32 | 4.73 | 4.62 | 4.84 | 5.72 | 6.71 |
Average Days of Payables |
122.04 | 130.02 | 121.78 | 125.02 | 154.17 | 158.27 | 165.11 | 156.03 | 145.12 | 149.60 |
Days of Inventory on Hand |
79.13 | 78.48 | 81.85 | 79.58 | 88.32 | 76.46 | 80.55 | 74.50 | 58.98 | 53.05 |
Average Receivables |
5,857.50 | 6,163.50 | 6,645.00 | 7,084.50 | 7,215.50 | 7,573.00 | 8,493.00 | 9,424.50 | 10,354.50 | 10,809.00 |
Average Payables |
2,244.00 | 2,462.00 | 2,591.50 | 2,741.00 | 3,220.00 | 3,823.00 | 4,175.00 | 4,236.00 | 4,254.50 | 4,467.50 |
Average Inventory |
1,471.00 | 1,538.00 | 1,652.50 | 1,790.50 | 1,937.00 | 2,005.50 | 2,027.00 | 2,044.50 | 1,879.50 | 1,695.00 |
Average Assets |
33,251.00 | 35,175.50 | 37,900.00 | 42,132.50 | 46,274.00 | 49,116.00 | 51,590.00 | 54,324.50 | 57,862.00 | 60,116.50 |
Average Common Equity |
(5,839.50) | (5,314.00) | (3,956.50) | (1,741.50) | 1,163.50 | 2,190.50 | 708.00 | 493.50 | 807.50 | (1,108.00) |
Columns are period end dates