NYSE · Financial Statements

HCA Healthcare, Inc. (HCA) Financial Statements

$469.03 NYSE: HCA Market Cap $101.55B

HCA Healthcare, Inc. most recently reported annual revenue of $75.6B, net profit of $6.8B. Revenue grew at an average annual rate of 8.0% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

HCA Healthcare, Inc.: Revenue rose from $41.5B in 2016 to $75.6B in 2025, a change of +82.2% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 14.9% to 15.8%, a shift of +0.9 percentage points; the most recent year shows net profit of $6.8B.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$41.5B$43.6B$46.7B$51.3B$51.5B$58.8B$60.2B$65.0B$70.6B$75.6B
Operating Expenses$35.3B$37.6B$40.0B$44.1B$44.3B$49.1B$51.2B$55.3B$60.1B$63.6B
Operating Profit$6.2B$6.1B$6.6B$7.2B$7.3B$9.7B$9.1B$9.6B$10.5B$12.0B
Operating Margin14.9%13.9%14.2%14.1%14.1%16.5%15.0%14.8%14.9%15.8%
Other Income$-1.4B$-1.7B$-1.3B$-2.0B$-1.8B$155.0M$-473.0M$-1.9B$-2.0B$-2.1B
Interest$1.6B$1.7B$1.8B$1.8B$1.6B$1.5B$1.7B$1.9B$2.1B$2.2B
Depreciation$2.0B$2.1B$2.3B$2.6B$2.7B$2.9B$3.0B$3.1B$3.3B$3.5B
Profit Before Tax$4.8B$4.4B$5.3B$5.2B$5.4B$9.8B$8.6B$7.7B$8.5B$9.8B
Tax$28.6M$37.4M$17.7M$21.0M$19.2M$21.5M$20.4M$21.0M$21.9M$20.9M
Net Profit$2.9B$2.2B$3.8B$3.5B$3.8B$7.0B$5.6B$5.2B$5.8B$6.8B
EPS$7.30$5.95$10.66$10.07$10.93$21.16$19.15$18.96$22.00$28.38
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$16.2B$17.3B$17.3B$17.5B$17.5B$18.3B$18.3B$18.6B$19.2B$19.5B$19.1B$20.2B
Operating Expenses$16.2B$14.5B$14.8B$14.8B$15.1B$15.4B$15.5B$15.6B$16.2B$16.3B$16.2B$17.2B
Operating Profit$0$2.8B$2.6B$2.7B$2.4B$2.8B$2.9B$3.0B$3.0B$3.2B$2.9B$3.1B
Operating Margin0.0%16.2%14.8%15.6%13.8%15.6%15.6%15.9%15.5%16.3%15.0%15.2%
Interest$483.0M$491.0M$512.0M$506.0M$515.0M$528.0M$547.0M$568.0M$561.0M$572.0M$584.0M$599.0M
Profit Before Tax$1.6B$2.3B$2.2B$2.2B$1.9B$2.1B$2.3B$2.4B$2.4B$2.7B$2.3B$2.5B
Tax$21.8M$20.6M$19.8M$24.6M$22.3M$21.0M$21.6M$21.7M$21.3M$19.1M$18.8M$22.6M
Net Profit$1.1B$1.6B$1.6B$1.5B$1.3B$1.4B$1.6B$1.7B$1.6B$1.9B$1.6B$1.7B
EPS$3.89$5.93$5.94$5.53$4.89$5.63$6.45$6.83$6.96$8.14$7.15$7.62

Over the 10 years reported for HCA Healthcare, Inc., borrowings increased from $31.4B in 2016 to $50.2B in 2025, cash stood at $1.0B in the latest year, shareholders' equity was $2.0M, current assets covered current liabilities 0.83 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$33.8B$36.6B$39.2B$45.1B$47.5B$50.7B$52.4B$56.2B$59.5B$60.7B
Current Assets$9.1B$10.0B$10.2B$11.2B$12.3B$13.5B$13.6B$14.9B$16.4B$13.6B
Cash$646.0M$732.0M$502.0M$621.0M$1.8B$1.5B$908.0M$935.0M$1.9B$1.0B
Inventory$1.5B$1.6B$1.7B$1.8B$2.0B$2.0B$2.1B$2.0B$1.7B$1.7B
Receivables$5.8B$6.5B$6.8B$7.4B$7.1B$8.1B$8.9B$10.0B$10.8B$10.9B
Fixed Assets$16.4B$17.9B$19.8B$24.5B$25.2B$26.2B$27.6B$29.9B$31.5B$31.1B
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$542.0M$617.0M$594.0M$564.0M$810.0M$886.0M$1.2B$1.2B$1.3B$633.0M
Other Assets$6.3B$7.0B$7.6B$7.9B$8.2B$9.1B$9.3B$9.6B$9.8B$0
Total Liabilities$39.4B$41.6B$42.1B$45.6B$44.6B$49.3B$52.5B$55.2B$59.0B$63.5B
Current Liabilities$5.8B$6.2B$7.6B$7.8B$8.7B$9.6B$9.9B$12.7B$15.2B$16.4B
Borrowings$31.4B$33.1B$32.8B$35.6B$33.1B$36.7B$40.2B$41.9B$45.2B$50.2B
Other Liabilities$8.0B$8.5B$9.3B$10.1B$11.5B$12.5B$12.3B$13.3B$13.7B$13.3B
Equity$4.0M$4.0M$3.0M$3.0M$3.0M$3.0M$3.0M$3.0M$3.0M$2.0M
Reserves$-7.3B$-6.8B$-5.0B$-2.8B$572.0M$-933.0M$-2.8B$-1.8B$-2.5B$-6.0B

For HCA Healthcare, Inc., operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $7.7B; free cash flow was positive in 10 of 10 years; financing activities used $11.1B in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$5.7B$5.4B$6.8B$7.6B$9.2B$9.0B$8.5B$9.4B$10.5B$12.6B
Investing Cash Flow$-6.0B$-7.3B$-7.5B$-9.9B$-6.2B$-6.2B$-7.8B$-10.1B$-9.8B$-9.9B
Financing Cash Flow$-3.3B$-2.6B$-2.2B$-1.8B$-1.3B$-9.3B$-8.3B$-4.7B$-7.1B$-11.1B
Net Cash Flow$-95.0M$86.0M$-230.0M$119.0M$1.2B$-342.0M$-543.0M$27.0M$998.0M$-893.0M
Free Cash Flow$2.9B$2.4B$3.2B$3.4B$6.4B$5.4B$4.1B$4.7B$5.6B$7.7B

Valuation & Return Ratios

MetricValue
PEG Ratio0.63
EV / EBITDA9.33
FCF Yield6.00%
Quick Ratio0.69
Interest Coverage5.21
Return 1Y7.29%
Return 3Y108.53%
Return 5Y86.80%

HCA Healthcare, Inc. (HCA) financials — frequently asked questions

What is HCA Healthcare, Inc.'s annual revenue?

HCA Healthcare, Inc. (HCA) reported annual revenue of $75.6B in its most recent fiscal year.

What is HCA Healthcare, Inc.'s net profit?

HCA Healthcare, Inc. (HCA) reported net profit of $6.8B in its most recent fiscal year.

What is HCA EV/EBITDA?

HCA Healthcare, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 9.33.

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