HCA Healthcare (HCA) Financials

$340.34 +4.36 (+1.30%)

As of 03:47 PM Eastern

Annual Income Statements for HCA Healthcare

This table shows HCA Healthcare's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	2,129	2,890	2,216	3,787	3,505	3,754	6,956	5,643	5,242	5,760
Consolidated Net Income / (Loss)	2,696	3,432	2,743	4,389	4,145	4,387	7,721	6,834	6,091	6,657
Net Income / (Loss) Continuing Operations	2,696	3,432	2,743	4,389	4,145	4,387	7,721	6,834	6,091	6,657
Total Pre-Tax Income	3,957	4,810	4,381	5,335	5,244	5,430	9,833	8,580	7,706	8,523
Total Operating Income	5,960	6,467	6,065	7,090	7,236	7,255	11,298	10,354	9,622	10,584
Total Gross Profit	21,563	22,593	36,298	17,528	42,855	27,659	31,973	50,862	35,481	28,678
Total Revenue	43,591	41,490	43,614	46,677	51,336	51,533	58,752	60,233	64,968	70,603
Operating Revenue	43,591	41,490	43,614	46,677	51,336	51,533	58,752	60,233	64,968	70,603
Total Cost of Revenue	22,028	18,897	7,316	29,149	8,481	23,874	26,779	9,371	29,487	41,925
Operating Cost of Revenue	18,115	18,897	7,316	29,149	8,481	23,874	26,779	9,371	29,487	41,925
Total Operating Expenses	15,603	16,126	30,233	10,438	35,619	20,404	20,675	40,508	25,859	18,094
Selling, General & Admin Expense	13,694	14,429	28,110	8,608	33,041	17,676	19,442	38,840	22,777	14,819
Depreciation Expense	1,904	1,966	2,131	2,278	2,596	2,721	2,853	2,969	3,077	3,312
Other Operating Expenses / (Income)	-	-246	-	-20	-	-	-	-	-	-23
Other Special Charges / (Income)	5.00	-23	-8.00	-428	-18	7.00	-1,620	-1,301	5.00	-14
Total Other Income / (Expense), net	-2,003	-1,657	-1,684	-1,755	-1,992	-1,825	-1,465	-1,774	-1,916	-2,061
Interest Expense	1,800	1,711	1,729	1,755	2,035	1,879	1,578	1,819	1,938	2,061
Income Tax Expense	1,261	1,378	1,638	946	1,099	1,043	2,112	1,746	1,615	1,866
Net Income / (Loss) Attributable to Noncontrolling Interest	567	542	527	602	640	633	765	1,191	849	897
Basic Earnings per Share	$5.14	$7.53	$6.12	$10.90	$10.27	$11.10	$21.52	$19.43	$19.25	$22.27
Weighted Average Basic Shares Outstanding	414.19M	383.59M	362.31M	347.30M	341.21M	338.27M	323.32M	290.35M	272.40M	258.60M
Diluted Earnings per Share	$4.99	$7.30	$5.95	$10.66	$10.07	$10.93	$21.16	$19.15	$18.97	$22.00
Weighted Average Diluted Shares Outstanding	426.72M	395.85M	372.22M	355.30M	348.23M	343.61M	328.75M	294.67M	276.41M	261.81M
Weighted Average Basic & Diluted Shares Outstanding	414.20M	383.80M	362.10M	347.40M	338.43M	339.92M	303.60M	276.97M	264.50M	248.34M
Cash Dividends to Common per Share	-	-	-	$1.40	$1.60	$0.43	$1.92	$2.24	$2.40	$2.64

This table shows HCA Healthcare's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	1,134	2,081	1,363	1,193	1,079	1,607	1,591	1,461	1,270	1,438
Consolidated Net Income / (Loss)	1,344	2,646	1,543	1,412	1,275	1,861	1,802	1,687	1,482	1,686
Net Income / (Loss) Continuing Operations	1,344	2,646	1,543	1,412	1,275	1,861	1,802	1,687	1,482	1,686
Total Pre-Tax Income	1,704	3,302	1,922	1,809	1,630	2,345	2,247	2,237	1,906	2,133
Total Operating Income	2,140	3,739	2,401	2,301	2,094	2,826	2,759	2,743	2,406	2,676
Total Gross Profit	8,072	26,756	8,507	13,383	8,657	4,934	6,961	14,858	9,626	-2,767
Total Revenue	14,971	15,497	15,591	15,861	16,213	17,303	17,339	17,492	17,487	18,285
Operating Revenue	14,971	15,497	15,591	15,861	16,213	17,303	17,339	17,492	17,487	18,285
Total Cost of Revenue	6,899	-11,259	7,084	2,478	7,556	12,369	10,378	2,634	7,861	21,052
Operating Cost of Revenue	6,899	-11,259	7,084	2,478	7,556	12,369	10,378	2,634	7,861	21,052
Total Operating Expenses	5,932	23,017	6,106	11,082	6,563	2,108	4,202	12,115	7,220	-5,443
Selling, General & Admin Expense	5,180	23,593	5,317	10,320	5,796	1,344	3,606	11,308	6,374	-6,469
Depreciation Expense	749	750	756	763	769	789	795	819	842	856
Other Special Charges / (Income)	3.00	-1,326	15	-1.00	-2.00	-7.00	-201	-12	4.00	195
Total Other Income / (Expense), net	-436	-437	-479	-492	-464	-481	-512	-506	-500	-543
Interest Expense	446	453	479	485	483	491	512	506	515	528
Income Tax Expense	360	656	379	397	355	484	445	550	424	447
Net Income / (Loss) Attributable to Noncontrolling Interest	210	565	180	219	196	254	211	226	212	248
Basic Earnings per Share	$3.97	$7.30	$4.92	$4.35	$3.98	$6.00	$6.01	$5.60	$4.94	$5.72
Weighted Average Basic Shares Outstanding	285.96M	290.35M	276.91M	274.49M	271.17M	272.40M	264.44M	261.16M	256.76M	258.60M
Diluted Earnings per Share	$3.91	$7.20	$4.85	$4.29	$3.91	$5.92	$5.93	$5.53	$4.88	$5.66
Weighted Average Diluted Shares Outstanding	289.85M	294.67M	280.96M	278.20M	275.42M	276.41M	268.02M	264.07M	259.92M	261.81M
Weighted Average Basic & Diluted Shares Outstanding	282.72M	276.97M	275.19M	271.99M	267.66M	264.50M	261.91M	258.07M	253.30M	248.34M

This table details how cash moves in and out of HCA Healthcare's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	175	-95	86	-215	119	1,172	-342	-543	27	998
Net Cash From Operating Activities	4,633	5,653	5,426	6,761	7,602	9,232	8,959	8,522	9,431	10,514
Net Cash From Continuing Operating Activities	4,734	5,653	5,426	6,761	7,602	9,232	8,959	8,522	9,431	10,514
Net Income / (Loss) Continuing Operations	2,696	3,432	2,743	4,389	4,145	4,387	7,721	6,834	6,091	6,657
Consolidated Net Income / (Loss)	2,696	3,432	2,743	4,389	4,145	4,387	7,721	6,834	6,091	6,657
Depreciation Expense	1,904	1,966	2,131	2,278	2,596	2,721	2,853	2,969	3,077	3,312
Amortization Expense	35	34	31	31	30	30	27	29	35	35
Non-Cash Adjustments To Reconcile Net Income	4,595	56	315	-44	669	775	-1,069	-729	456	594
Changes in Operating Assets and Liabilities, net	-4,597	165	206	107	162	1,319	-573	-581	-228	-84
Net Cash From Investing Activities	-2,583	-3,240	-4,279	-3,901	-5,720	-3,393	-2,643	-3,389	-5,317	-4,933
Net Cash From Continuing Investing Activities	-2,583	-3,240	-4,279	-3,901	-5,720	-3,393	-2,643	-3,389	-5,317	-4,933
Purchase of Property, Plant & Equipment	-2,375	-2,760	-3,015	-3,573	-4,158	-2,835	-3,577	-4,395	-4,744	-4,875
Purchase of Investments	-351	-576	-1,285	-1,253	-1,682	-568	-1,105	-224	-635	-266
Divestitures	73	26	25	808	61	68	2,160	1,237	193	328
Sale and/or Maturity of Investments	63	64	-	57	25	-20	-117	14	-112	-115
Other Investing Activities, net	7.00	6.00	-4.00	60	34	-38	-4.00	-21	-19	-5.00
Net Cash From Financing Activities	-1,976	-2,508	-1,061	-3,075	-1,771	-4,677	-6,655	-5,656	-4,094	-4,582
Net Cash From Continuing Financing Activities	-1,976	-2,508	-1,061	-3,075	-1,771	-4,677	-6,655	-5,656	-4,094	-4,582
Repayment of Debt	-4,632	-4,723	-824	-2,617	-6,099	-6,157	-1,411	-2,975	-2,206	-4,634
Repurchase of Common Equity	-2,397	-2,751	-2,051	-1,530	-1,031	-441	-8,215	-7,000	-3,811	-6,042
Payment of Dividends	-495	-434	-448	-928	-1,092	-779	-1,373	-1,678	-1,301	-1,401
Issuance of Debt	5,548	5,400	2,262	2,000	6,451	2,700	4,344	5,997	3,224	7,495
Other Net Changes in Cash	-	0.00	-	-	-	-	-	-	7.00	-1.00
Cash Interest Paid	1,650	1,666	1,700	1,744	1,914	1,607	1,502	1,662	1,892	1,938
Cash Income Taxes Paid	1,186	1,255	1,205	872	849	1,002	2,182	1,175	1,386	1,844

This table details how cash moves in and out of HCA Healthcare's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	141	-91	-66	20	29	44	349	-453	2,057	-955
Net Cash From Operating Activities	3,020	2,527	1,803	2,475	2,479	2,674	2,469	1,971	3,515	2,559
Net Cash From Continuing Operating Activities	3,020	2,527	1,803	2,475	2,479	2,674	2,469	1,971	3,515	2,559
Net Income / (Loss) Continuing Operations	1,344	2,646	1,543	1,412	1,275	1,861	1,802	1,687	1,482	1,686
Consolidated Net Income / (Loss)	1,344	2,646	1,543	1,412	1,275	1,861	1,802	1,687	1,482	1,686
Depreciation Expense	749	750	756	763	769	789	795	819	842	856
Amortization Expense	7.00	7.00	9.00	8.00	9.00	9.00	9.00	8.00	9.00	9.00
Non-Cash Adjustments To Reconcile Net Income	133	-1,214	165	119	99	73	-51	187	117	341
Changes in Operating Assets and Liabilities, net	787	338	-670	173	327	-58	-86	-730	1,065	-333
Net Cash From Investing Activities	-546	-793	-1,151	-1,257	-1,312	-1,597	-903	-1,332	-1,352	-1,346
Net Cash From Continuing Investing Activities	-546	-793	-1,151	-1,257	-1,312	-1,597	-903	-1,332	-1,352	-1,346
Purchase of Property, Plant & Equipment	-1,131	-1,323	-1,197	-1,241	-1,147	-1,159	-1,118	-1,281	-1,191	-1,285
Purchase of Investments	-60	-48	-115	-9.00	-157	-354	-96	-35	-93	-42
Divestitures	632	585	165	7.00	11	10	310	1.00	1.00	16
Sale and/or Maturity of Investments	12	4.00	-13	-3.00	-14	-82	2.00	-16	-71	-30
Other Investing Activities, net	1.00	-11	9.00	-11	-5.00	-12	-1.00	-1.00	2.00	-5.00
Net Cash From Financing Activities	-2,317	-1,838	-725	-1,198	-1,132	-1,039	-1,216	-1,093	-110	-2,163
Net Cash From Continuing Financing Activities	-2,317	-1,838	-725	-1,198	-1,132	-1,039	-1,216	-1,093	-110	-2,163
Repayment of Debt	-1,252	291	483	-3,182	323	170	-4,182	631	-966	-117
Repurchase of Common Equity	-698	-1,519	-846	-915	-1,140	-910	-1,180	-1,367	-1,795	-1,700
Payment of Dividends	-377	-631	-362	-319	-317	-303	-337	-357	-361	-346
Other Net Changes in Cash	-	-	7.00	-	-	-	-1.00	1.00	4.00	-5.00
Cash Interest Paid	552	333	574	351	535	432	538	405	462	533
Cash Income Taxes Paid	322	244	7.00	766	297	316	1.00	998	487	358

This table presents HCA Healthcare's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	32,744	33,758	36,593	39,207	45,058	47,490	50,742	52,438	56,211	59,513
Total Current Assets	9,232	9,086	9,977	10,213	11,196	12,333	13,542	13,643	14,927	16,414
Cash & Equivalents	741	646	732	502	621	1,793	1,451	908	935	1,933
Accounts Receivable	5,889	5,826	6,501	6,789	7,380	7,051	8,095	8,891	9,958	10,751
Inventories, net	1,439	1,503	1,573	1,732	1,849	2,025	1,986	2,068	2,021	1,738
Other Current Assets	1,163	1,111	1,171	1,190	1,346	1,464	2,010	1,776	2,013	1,992
Plant, Property, & Equipment, net	15,014	16,352	17,895	19,757	22,715	23,199	24,063	25,575	27,715	29,414
Plant, Property & Equipment, gross	34,614	37,055	40,084	85,930	47,235	49,317	51,350	54,757	58,548	62,514
Accumulated Depreciation	19,600	20,703	22,189	23,208	24,520	26,118	27,287	29,182	30,833	33,100
Total Noncurrent Assets	8,498	8,320	8,721	9,237	11,147	11,570	13,137	13,220	13,569	13,685
Long-Term Investments	610	542	617	594	564	422	886	1,204	1,233	1,231
Goodwill	6,731	6,704	7,394	7,953	8,269	8,578	9,540	9,653	9,945	10,093
Other Noncurrent Operating Assets	1,157	1,074	710	690	2,314	2,570	2,711	2,363	2,391	2,361
Total Liabilities & Shareholders' Equity	32,744	33,758	36,593	39,207	45,058	47,490	50,742	52,438	56,211	59,513
Total Liabilities	38,790	39,391	41,588	42,125	45,623	44,598	49,253	52,511	55,151	58,958
Total Current Liabilities	5,516	5,834	6,158	7,569	7,757	8,704	9,582	9,902	12,655	15,177
Short-Term Debt	233	216	200	788	145	209	237	370	2,424	4,698
Accounts Payable	2,170	2,318	2,606	2,577	2,905	3,535	4,111	4,239	4,233	4,276
Accrued Expenses	3,113	3,300	3,352	4,204	4,707	4,960	5,234	5,293	5,998	6,203
Total Noncurrent Liabilities	33,274	33,557	35,430	34,556	37,866	35,894	39,671	42,609	42,496	43,781
Long-Term Debt	30,255	31,160	32,858	32,033	33,577	30,795	34,342	37,714	37,169	38,333
Noncurrent Deferred & Payable Income Tax Liabilities	1,904	1,249	1,374	1,248	1,420	1,940	2,060	1,615	1,867	2,041
Other Noncurrent Operating Liabilities	1,115	1,148	1,198	1,275	2,869	3,159	3,269	3,280	3,460	3,407
Total Equity & Noncontrolling Interests	-6,046	-5,633	-4,995	-2,918	-565	2,892	1,489	-73	1,060	555
Total Preferred & Common Equity	-7,599	-7,302	-6,806	-4,950	-2,808	572	-933	-2,767	-1,774	-2,499
Total Common Equity	-7,599	-7,302	-6,806	-4,950	-2,808	572	-933	-2,767	-1,774	-2,499
Common Stock	4.00	4.00	4.00	3.00	3.00	297	3.00	3.00	3.00	3.00
Retained Earnings	-7,338	-6,968	-6,532	-4,572	-2,351	777	-532	-2,280	-1,352	-2,115
Accumulated Other Comprehensive Income / (Loss)	-265	-338	-278	-381	-460	-502	-404	-490	-425	-387
Noncontrolling Interest	1,553	1,669	1,811	2,032	2,243	2,320	2,422	2,694	2,834	3,054

This table presents HCA Healthcare's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	51,484	52,438	52,711	53,594	54,589	56,211	56,962	57,379	59,459	59,513
Total Current Assets	13,481	13,643	13,541	13,888	14,294	14,927	15,282	15,173	16,662	16,414
Cash & Equivalents	999	908	842	862	891	935	1,284	831	2,888	1,933
Accounts Receivable	8,552	8,891	8,657	8,713	9,182	9,958	10,044	10,239	9,915	10,751
Inventories, net	2,009	2,068	2,085	2,050	2,030	2,021	1,903	1,800	1,776	1,738
Other Current Assets	1,921	1,776	1,957	2,263	2,191	2,013	2,051	2,303	2,083	1,992
Plant, Property, & Equipment, net	24,978	25,575	26,053	26,644	27,117	27,715	28,096	28,639	29,047	29,414
Plant, Property & Equipment, gross	53,730	54,757	55,463	56,667	57,772	58,548	59,440	60,625	61,750	62,514
Accumulated Depreciation	28,752	29,182	29,410	30,023	30,655	30,833	31,344	31,986	32,703	33,100
Total Noncurrent Assets	13,025	13,220	13,117	13,062	13,178	13,569	13,584	13,567	13,750	13,685
Long-Term Investments	816	1,204	1,176	1,115	1,121	1,233	1,207	1,185	1,258	1,231
Goodwill	9,651	9,653	9,590	9,641	9,778	9,945	9,967	9,963	9,982	10,093
Other Noncurrent Operating Assets	2,558	2,363	2,351	2,306	2,279	2,391	2,410	2,419	2,510	2,361
Total Liabilities & Shareholders' Equity	51,484	52,438	52,711	53,594	54,589	56,211	56,962	57,379	59,459	59,513
Total Liabilities	52,262	52,511	52,479	53,133	54,232	55,151	55,692	56,040	58,673	58,958
Total Current Liabilities	9,784	9,902	11,028	11,545	12,407	12,655	13,141	14,301	14,900	15,177
Short-Term Debt	218	370	2,378	2,395	2,553	2,424	3,028	4,574	4,682	4,698
Accounts Payable	4,161	4,239	3,769	3,823	4,139	4,233	4,735	4,029	4,235	4,276
Accrued Expenses	5,405	5,293	4,881	5,327	5,715	5,998	5,378	5,698	5,983	6,203
Total Noncurrent Liabilities	42,478	42,609	41,451	41,588	41,825	42,496	42,551	41,739	43,773	43,781
Long-Term Debt	37,492	37,714	36,478	36,537	36,793	37,169	37,163	36,306	38,283	38,333
Noncurrent Deferred & Payable Income Tax Liabilities	1,714	1,615	1,692	1,691	1,666	1,867	1,905	1,966	1,982	2,041
Other Noncurrent Operating Liabilities	3,272	3,280	3,281	3,360	3,366	3,460	3,483	3,467	3,508	3,407
Total Equity & Noncontrolling Interests	-778	-73	232	461	357	1,060	1,270	1,339	786	555
Total Preferred & Common Equity	-3,370	-2,767	-2,495	-2,303	-2,477	-1,774	-1,615	-1,600	-2,182	-2,499
Total Common Equity	-3,370	-2,767	-2,495	-2,303	-2,477	-1,774	-1,615	-1,600	-2,182	-2,499
Common Stock	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00
Retained Earnings	-2,781	-2,280	-2,028	-1,850	-1,989	-1,352	-1,185	-1,170	-1,807	-2,115
Accumulated Other Comprehensive Income / (Loss)	-592	-490	-470	-456	-491	-425	-433	-433	-378	-387
Noncontrolling Interest	2,592	2,694	2,727	2,764	2,834	2,834	2,885	2,939	2,968	3,054

This table displays calculated financial ratios and metrics derived from HCA Healthcare's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.74%	-4.82%	5.12%	7.02%	9.98%	0.38%	14.01%	2.52%	7.86%	8.67%
EBITDA Growth	3.69%	10.68%	-2.83%	14.25%	4.93%	1.46%	41.70%	-5.83%	-4.63%	9.40%
EBIT Growth	3.54%	13.24%	-6.22%	16.90%	2.06%	0.26%	55.73%	-8.36%	-7.07%	10.00%
NOPAT Growth	6.48%	13.63%	-17.70%	53.60%	-1.94%	2.48%	51.35%	-7.04%	-7.78%	8.70%
Net Income Growth	13.61%	27.30%	-20.08%	60.01%	-5.56%	5.84%	76.00%	-11.49%	-10.87%	9.29%
EPS Growth	19.95%	46.29%	-18.49%	79.16%	-5.53%	8.54%	93.60%	-9.50%	-0.94%	15.97%
Operating Cash Flow Growth	4.16%	22.02%	-4.02%	24.60%	12.44%	21.44%	-2.96%	-4.88%	10.67%	11.48%
Free Cash Flow Firm Growth	14.29%	17.87%	-47.99%	128.26%	-31.69%	156.03%	-1.64%	-5.51%	-17.43%	26.10%
Invested Capital Growth	6.40%	6.34%	8.79%	7.83%	10.99%	-2.12%	7.79%	6.43%	7.20%	5.03%
Revenue Q/Q Growth	2.00%	-6.90%	8.22%	1.55%	2.49%	1.52%	1.33%	0.72%	2.86%	1.41%
EBITDA Q/Q Growth	-1.15%	3.22%	-0.96%	1.68%	1.84%	7.48%	1.86%	6.57%	-6.41%	-0.59%
EBIT Q/Q Growth	-1.87%	3.87%	-2.05%	1.78%	0.92%	11.14%	1.76%	8.37%	-8.67%	-1.40%
NOPAT Q/Q Growth	2.59%	3.23%	-12.08%	15.54%	-0.68%	12.41%	0.48%	9.61%	-9.05%	-1.53%
Net Income Q/Q Growth	2.35%	11.25%	-13.93%	15.96%	0.68%	10.62%	4.20%	10.35%	-11.42%	-2.56%
EPS Q/Q Growth	4.83%	15.32%	-15.12%	19.11%	0.70%	10.52%	7.79%	8.75%	-6.32%	-1.17%
Operating Cash Flow Q/Q Growth	-3.54%	4.47%	0.65%	6.98%	4.54%	-39.74%	205.46%	1.00%	1.58%	-1.08%
Free Cash Flow Firm Q/Q Growth	15.74%	-1.43%	-6.38%	8.27%	10.41%	-45.05%	325.61%	30.06%	-13.28%	-2.34%
Invested Capital Q/Q Growth	1.47%	2.18%	0.43%	2.17%	1.05%	25.42%	4.54%	2.23%	2.11%	2.06%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	49.47%	54.45%	83.23%	37.55%	83.48%	53.67%	54.42%	84.44%	54.61%	40.62%
EBITDA Margin	17.55%	20.41%	18.86%	20.14%	19.21%	19.42%	24.13%	22.17%	19.60%	19.73%
Operating Margin	13.67%	15.59%	13.91%	15.19%	14.10%	14.08%	19.23%	17.19%	14.81%	14.99%
EBIT Margin	13.10%	15.59%	13.91%	15.19%	14.10%	14.08%	19.23%	17.19%	14.81%	14.99%
Profit (Net Income) Margin	6.18%	8.27%	6.29%	9.40%	8.07%	8.51%	13.14%	11.35%	9.38%	9.43%
Tax Burden Percent	68.13%	71.35%	62.61%	82.27%	79.04%	80.79%	78.52%	79.65%	79.04%	78.11%
Interest Burden Percent	69.29%	74.38%	72.23%	75.25%	72.47%	74.84%	87.03%	82.87%	80.09%	80.53%
Effective Tax Rate	31.87%	28.65%	37.39%	17.73%	20.96%	19.21%	21.48%	20.35%	20.96%	21.89%
Return on Invested Capital (ROIC)	18.13%	19.37%	14.81%	21.01%	18.82%	18.53%	27.29%	23.69%	20.45%	20.95%
ROIC Less NNEP Spread (ROIC-NNEP)	13.37%	15.38%	11.41%	16.46%	13.92%	13.69%	23.49%	19.55%	16.32%	16.79%
Return on Net Nonoperating Assets (RNNOA)	-61.12%	-78.14%	-66.43%	-131.94%	-256.83%	358.52%	325.19%	941.57%	1,213.80%	803.44%
Return on Equity (ROE)	-42.98%	-58.77%	-51.62%	-110.93%	-238.01%	377.05%	352.48%	965.25%	1,234.25%	824.40%
Cash Return on Invested Capital (CROIC)	11.93%	13.22%	6.39%	13.47%	8.41%	20.68%	19.79%	17.46%	13.50%	16.04%
Operating Return on Assets (OROA)	17.92%	19.45%	17.24%	18.71%	17.17%	15.68%	23.00%	20.07%	17.71%	18.29%
Return on Assets (ROA)	8.46%	10.32%	7.80%	11.58%	9.84%	9.48%	15.72%	13.25%	11.21%	11.51%
Return on Common Equity (ROCE)	-53.09%	-74.99%	-68.52%	-164.81%	-530.15%	-362.31%	-29.04%	-2,522.20%	-5,678.53%	-2,181.20%
Return on Equity Simple (ROE_SIMPLE)	-35.48%	-47.00%	-40.30%	-88.67%	-147.61%	766.96%	-827.55%	-246.98%	-343.35%	-266.39%
Net Operating Profit after Tax (NOPAT)	4,061	4,614	3,797	5,833	5,720	5,861	8,871	8,247	7,605	8,267
NOPAT Margin	9.32%	11.12%	8.71%	12.50%	11.14%	11.37%	15.10%	13.69%	11.71%	11.71%
Net Nonoperating Expense Percent (NNEP)	4.76%	3.99%	3.41%	4.55%	4.90%	4.84%	3.79%	4.14%	4.13%	4.17%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	21.70%	18.71%	18.97%
Cost of Revenue to Revenue	50.53%	45.55%	16.77%	62.45%	16.52%	46.33%	45.58%	15.56%	45.39%	59.38%
SG&A Expenses to Revenue	31.41%	34.78%	64.45%	18.44%	64.36%	34.30%	33.09%	64.48%	35.06%	20.99%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	35.79%	38.87%	69.32%	22.36%	69.38%	39.59%	35.19%	67.25%	39.80%	25.63%
Earnings before Interest and Taxes (EBIT)	5,711	6,467	6,065	7,090	7,236	7,255	11,298	10,354	9,622	10,584
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	7,650	8,467	8,227	9,399	9,862	10,006	14,178	13,352	12,734	13,931
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	94.22	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.59	0.63	0.67	0.87	0.94	1.05	1.33	1.11	1.11	1.08
Price to Earnings (P/E)	12.17	9.02	13.19	10.76	13.78	14.36	11.22	11.82	13.71	13.20
Dividend Yield	0.00%	0.00%	0.00%	1.18%	1.12%	0.48%	0.87%	0.95%	0.89%	0.88%
Earnings Yield	8.21%	11.08%	7.58%	9.29%	7.26%	6.97%	8.91%	8.46%	7.29%	7.58%
Enterprise Value to Invested Capital (EV/IC)	2.45	2.36	2.35	2.59	2.60	2.72	3.34	2.94	2.91	2.94
Enterprise Value to Revenue (EV/Rev)	1.30	1.40	1.44	1.60	1.62	1.65	1.92	1.75	1.73	1.68
Enterprise Value to EBITDA (EV/EBITDA)	7.40	6.84	7.63	7.93	8.42	8.50	7.95	7.89	8.81	8.54
Enterprise Value to EBIT (EV/EBIT)	9.91	8.96	10.35	10.51	11.48	11.72	9.98	10.18	11.66	11.24
Enterprise Value to NOPAT (EV/NOPAT)	13.94	12.55	16.53	12.77	14.52	14.50	12.71	12.78	14.75	14.39
Enterprise Value to Operating Cash Flow (EV/OCF)	12.22	10.25	11.57	11.02	10.93	9.21	12.58	12.36	11.89	11.31
Enterprise Value to Free Cash Flow (EV/FCFF)	21.18	18.39	38.30	19.92	32.52	13.00	17.52	17.33	22.34	18.79
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-5.04	-5.57	-6.62	-11.25	-59.69	10.72	23.22	-521.70	37.35	77.53
Long-Term Debt to Equity	-5.00	-5.53	-6.58	-10.98	-59.43	10.65	23.06	-516.63	35.07	69.07
Financial Leverage	-4.57	-5.08	-5.82	-8.02	-18.45	26.19	13.84	48.17	74.36	47.86
Leverage Ratio	-5.08	-5.69	-6.62	-9.58	-24.19	39.77	22.42	72.87	110.08	71.66
Compound Leverage Factor	-3.52	-4.24	-4.78	-7.21	-17.53	29.77	19.51	60.38	88.16	57.70
Debt to Total Capital	124.74%	121.88%	117.80%	109.76%	101.70%	91.47%	95.87%	100.19%	97.39%	98.73%
Short-Term Debt to Total Capital	0.95%	0.84%	0.71%	2.64%	0.44%	0.62%	0.66%	0.97%	5.96%	10.78%
Long-Term Debt to Total Capital	123.78%	121.04%	117.09%	107.12%	101.27%	90.85%	95.21%	99.22%	91.43%	87.95%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	6.35%	6.48%	6.45%	6.80%	6.76%	6.84%	6.72%	7.09%	6.97%	7.01%
Common Equity to Total Capital	-31.09%	-28.37%	-24.25%	-16.55%	-8.47%	1.69%	-2.59%	-7.28%	-4.36%	-5.73%
Debt to EBITDA	3.99	3.71	4.02	3.49	3.42	3.10	2.44	2.85	3.11	3.09
Net Debt to EBITDA	3.81	3.57	3.85	3.38	3.30	2.88	2.27	2.69	2.94	2.86
Long-Term Debt to EBITDA	3.95	3.68	3.99	3.41	3.40	3.08	2.42	2.82	2.92	2.75
Debt to NOPAT	7.51	6.80	8.71	5.63	5.90	5.29	3.90	4.62	5.21	5.21
Net Debt to NOPAT	7.18	6.54	8.35	5.44	5.69	4.91	3.63	4.36	4.92	4.82
Long-Term Debt to NOPAT	7.45	6.75	8.65	5.49	5.87	5.25	3.87	4.57	4.89	4.64
Altman Z-Score	2.13	2.09	2.04	2.29	2.32	2.43	2.92	2.59	2.52	2.52
Noncontrolling Interest Sharing Ratio	-23.51%	-27.59%	-32.74%	-48.57%	-122.74%	196.09%	108.24%	361.30%	560.08%	364.58%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.67	1.56	1.62	1.35	1.44	1.42	1.41	1.38	1.18	1.08
Quick Ratio	1.20	1.11	1.17	0.96	1.03	1.02	1.00	0.99	0.86	0.84
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,673	3,150	1,638	3,740	2,555	6,540	6,433	6,079	5,019	6,330
Operating Cash Flow to CapEx	195.07%	204.82%	179.97%	189.22%	182.83%	325.64%	250.46%	193.90%	198.80%	215.67%
Free Cash Flow to Firm to Interest Expense	1.48	1.84	0.95	2.13	1.26	3.48	4.08	3.34	2.59	3.07
Operating Cash Flow to Interest Expense	2.57	3.30	3.14	3.85	3.74	4.91	5.68	4.69	4.87	5.10
Operating Cash Flow Less CapEx to Interest Expense	1.25	1.69	1.39	1.82	1.69	3.40	3.41	2.27	2.42	2.74
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.37	1.25	1.24	1.23	1.22	1.11	1.20	1.17	1.20	1.22
Accounts Receivable Turnover	7.53	7.08	7.08	7.02	7.25	7.14	7.76	7.09	6.89	6.82
Inventory Turnover	16.21	12.85	4.76	17.64	4.74	12.33	13.35	4.62	14.42	22.31
Fixed Asset Turnover	2.97	2.65	2.55	2.48	2.42	2.24	2.49	2.43	2.44	2.47
Accounts Payable Turnover	10.48	8.42	2.97	11.25	3.09	7.41	7.00	2.24	6.96	9.85
Days Sales Outstanding (DSO)	48.49	51.53	51.58	51.96	50.37	51.11	47.05	51.47	52.95	53.53
Days Inventory Outstanding (DIO)	22.52	28.41	76.73	20.69	77.06	29.61	27.34	78.95	25.31	16.36
Days Payable Outstanding (DPO)	34.84	43.34	122.83	32.45	117.97	49.23	52.11	162.62	52.43	37.04
Cash Conversion Cycle (CCC)	36.17	36.60	5.48	40.20	9.46	31.49	22.28	-32.20	25.82	32.85
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	23,091	24,555	26,714	28,807	31,972	31,293	33,731	35,899	38,485	40,422
Invested Capital Turnover	1.95	1.74	1.70	1.68	1.69	1.63	1.81	1.73	1.75	1.79
Increase / (Decrease) in Invested Capital	1,388	1,464	2,159	2,093	3,165	-679	2,438	2,168	2,586	1,937
Enterprise Value (EV)	56,608	57,929	62,756	74,502	83,064	85,005	112,730	105,370	112,148	118,948
Market Capitalization	25,918	26,072	29,236	40,745	48,284	53,896	78,066	66,704	71,889	76,027
Book Value per Share	($18.64)	($19.49)	($19.22)	($14.38)	($8.28)	$1.69	($3.00)	($9.79)	($6.63)	($9.87)
Tangible Book Value per Share	($35.15)	($37.38)	($40.11)	($37.49)	($32.66)	($23.66)	($33.67)	($43.93)	($43.78)	($49.71)
Total Capital	24,442	25,743	28,063	29,903	33,157	33,896	36,068	38,011	40,653	43,586
Total Debt	30,488	31,376	33,058	32,821	33,722	31,004	34,579	38,084	39,593	43,031
Total Long-Term Debt	30,255	31,160	32,858	32,033	33,577	30,795	34,342	37,714	37,169	38,333
Net Debt	29,137	30,188	31,709	31,725	32,537	28,789	32,242	35,972	37,425	39,867
Capital Expenditures (CapEx)	2,375	2,760	3,015	3,573	4,158	2,835	3,577	4,395	4,744	4,875
Debt-free, Cash-free Net Working Capital (DFCFNWC)	3,208	2,822	3,287	2,930	2,963	2,045	2,746	3,203	3,761	4,002
Debt-free Net Working Capital (DFNWC)	3,949	3,468	4,019	3,432	3,584	3,838	4,197	4,111	4,696	5,935
Net Working Capital (NWC)	3,716	3,252	3,819	2,644	3,439	3,629	3,960	3,741	2,272	1,237
Net Nonoperating Expense (NNE)	1,365	1,182	1,054	1,444	1,575	1,474	1,150	1,413	1,514	1,610
Net Nonoperating Obligations (NNO)	29,137	30,188	31,709	31,725	32,537	28,401	32,242	35,972	37,425	39,867
Total Depreciation and Amortization (D&A)	1,939	2,000	2,162	2,309	2,626	2,751	2,880	2,998	3,112	3,347
Debt-free, Cash-free Net Working Capital to Revenue	7.36%	6.80%	7.54%	6.28%	5.77%	3.97%	4.67%	5.32%	5.79%	5.67%
Debt-free Net Working Capital to Revenue	9.06%	8.36%	9.21%	7.35%	6.98%	7.45%	7.14%	6.83%	7.23%	8.41%
Net Working Capital to Revenue	8.52%	7.84%	8.76%	5.66%	6.70%	7.04%	6.74%	6.21%	3.50%	1.75%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.14	$7.53	$6.12	$10.90	$10.27	$11.10	$21.52	$19.43	$19.25	$22.27
Adjusted Weighted Average Basic Shares Outstanding	414.19M	383.59M	362.31M	347.30M	341.21M	338.27M	323.32M	290.35M	272.40M	258.60M
Adjusted Diluted Earnings per Share	$4.99	$7.30	$5.95	$10.66	$10.07	$10.93	$21.16	$19.15	$18.97	$22.00
Adjusted Weighted Average Diluted Shares Outstanding	426.72M	395.85M	372.22M	355.30M	348.23M	343.61M	328.75M	294.67M	276.41M	261.81M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$10.27	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	396.96M	370.15M	349.90M	342.38M	338.43M	339.92M	303.60M	276.97M	264.50M	248.34M
Normalized Net Operating Profit after Tax (NOPAT)	4,064	4,598	3,792	5,481	5,705	5,867	7,599	7,211	7,609	8,256
Normalized NOPAT Margin	9.32%	11.08%	8.70%	11.74%	11.11%	11.39%	12.93%	11.97%	11.71%	11.69%
Pre Tax Income Margin	9.08%	11.59%	10.04%	11.43%	10.22%	10.54%	16.74%	14.24%	11.86%	12.07%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.17	3.78	3.51	4.04	3.56	3.86	7.16	5.69	4.96	5.14
NOPAT to Interest Expense	2.26	2.70	2.20	3.32	2.81	3.12	5.62	4.53	3.92	4.01
EBIT Less CapEx to Interest Expense	1.85	2.17	1.76	2.00	1.51	2.35	4.89	3.28	2.52	2.77
NOPAT Less CapEx to Interest Expense	0.94	1.08	0.45	1.29	0.77	1.61	3.36	2.12	1.48	1.65
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	18.36%	12.65%	16.33%	21.14%	26.35%	17.76%	17.78%	24.55%	21.36%	21.05%
Augmented Payout Ratio	107.27%	92.80%	91.10%	56.00%	51.22%	27.81%	124.18%	126.98%	83.93%	111.81%

This table displays calculated financial ratios and metrics derived from HCA Healthcare's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.00%	2.87%	4.32%	7.02%	8.30%	11.65%	11.21%	10.28%	7.86%	5.68%
EBITDA Growth	-31.75%	22.41%	7.32%	2.06%	-0.83%	-19.40%	12.54%	16.21%	13.41%	-2.29%
EBIT Growth	-39.20%	27.22%	8.59%	1.63%	-2.15%	-24.42%	14.91%	19.21%	14.90%	-5.31%
NOPAT Growth	-38.76%	31.49%	7.95%	1.25%	-2.96%	-25.15%	14.79%	15.18%	14.21%	-5.69%
Net Income Growth	-45.63%	31.97%	5.32%	2.39%	-5.13%	-29.67%	16.79%	19.48%	16.24%	-9.40%
EPS Growth	-44.14%	27.21%	17.15%	10.00%	0.00%	-17.78%	22.27%	28.90%	24.81%	-4.39%
Operating Cash Flow Growth	32.63%	3.44%	34.05%	51.84%	-17.91%	5.82%	36.94%	-20.36%	41.79%	-4.30%
Free Cash Flow Firm Growth	74.52%	619.86%	81.97%	125.15%	19.45%	-141.45%	223.83%	-253.17%	95.38%	151.91%
Invested Capital Growth	8.83%	6.43%	6.25%	3.68%	7.33%	7.20%	5.13%	7.45%	5.08%	5.03%
Revenue Q/Q Growth	1.02%	3.51%	0.61%	1.73%	2.22%	6.72%	0.21%	0.88%	-0.03%	4.56%
EBITDA Q/Q Growth	-3.79%	55.25%	-29.58%	-2.97%	-6.51%	26.18%	-1.68%	0.20%	-8.77%	8.72%
EBIT Q/Q Growth	-5.48%	74.72%	-35.79%	-4.16%	-9.00%	34.96%	-2.37%	-0.58%	-12.29%	11.22%
NOPAT Q/Q Growth	-4.85%	77.51%	-35.67%	-6.82%	-8.80%	36.92%	-1.34%	-6.51%	-9.56%	13.07%
Net Income Q/Q Growth	-2.54%	96.88%	-41.69%	-8.49%	-9.70%	45.96%	-3.17%	-6.38%	-12.15%	13.77%
EPS Q/Q Growth	0.26%	84.14%	-32.64%	-11.55%	-8.86%	51.41%	0.17%	-6.75%	-11.75%	15.98%
Operating Cash Flow Q/Q Growth	85.28%	-16.32%	-28.65%	37.27%	0.16%	7.87%	-7.67%	-20.17%	78.34%	-27.20%
Free Cash Flow Firm Q/Q Growth	37.69%	171.27%	-130.48%	285.79%	-299.57%	63.33%	191.06%	-329.82%	93.98%	512.25%
Invested Capital Q/Q Growth	-2.69%	2.23%	3.26%	0.93%	0.74%	2.11%	1.26%	3.16%	-1.49%	2.06%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	53.92%	172.65%	54.56%	84.38%	53.40%	28.52%	40.15%	84.94%	55.05%	-15.13%
EBITDA Margin	19.34%	29.01%	20.31%	19.37%	17.71%	20.94%	20.55%	20.41%	18.63%	19.37%
Operating Margin	14.29%	24.13%	15.40%	14.51%	12.92%	16.33%	15.91%	15.68%	13.76%	14.63%
EBIT Margin	14.29%	24.13%	15.40%	14.51%	12.92%	16.33%	15.91%	15.68%	13.76%	14.63%
Profit (Net Income) Margin	8.98%	17.07%	9.90%	8.90%	7.86%	10.76%	10.39%	9.64%	8.47%	9.22%
Tax Burden Percent	78.87%	80.13%	80.28%	78.05%	78.22%	79.36%	80.20%	75.41%	77.75%	79.04%
Interest Burden Percent	79.63%	88.31%	80.05%	78.62%	77.84%	82.98%	81.44%	81.55%	79.22%	79.71%
Effective Tax Rate	21.13%	19.87%	19.72%	21.95%	21.78%	20.64%	19.80%	24.59%	22.25%	20.96%
Return on Invested Capital (ROIC)	20.01%	33.45%	20.92%	19.08%	17.53%	22.64%	22.39%	20.83%	19.27%	20.70%
ROIC Less NNEP Spread (ROIC-NNEP)	18.97%	32.42%	19.84%	18.04%	16.54%	21.60%	21.29%	19.82%	18.25%	19.59%
Return on Net Nonoperating Assets (RNNOA)	1,202.18%	1,561.92%	2,190.24%	-1,965.48%	-2,876.48%	1,606.35%	1,056.56%	834.85%	1,215.96%	937.58%
Return on Equity (ROE)	1,222.20%	1,595.37%	2,211.16%	-1,946.41%	-2,858.95%	1,628.99%	1,078.95%	855.68%	1,235.23%	958.28%
Cash Return on Invested Capital (CROIC)	13.87%	17.46%	17.26%	19.27%	15.90%	13.50%	15.76%	13.85%	16.77%	16.04%
Operating Return on Assets (OROA)	16.92%	28.17%	17.87%	17.08%	15.38%	19.53%	19.36%	19.32%	16.80%	17.86%
Return on Assets (ROA)	10.63%	19.93%	11.49%	10.48%	9.37%	12.86%	12.64%	11.88%	10.35%	11.25%
Return on Common Equity (ROCE)	-4,745.20%	-4,168.70%	-15,498.65%	-17,100.35%	-39,706.19%	-7,494.69%	-2,952.39%	-1,855.39%	-5,034.94%	-2,535.45%
Return on Equity Simple (ROE_SIMPLE)	-183.77%	0.00%	-277.03%	-301.56%	-277.59%	0.00%	-393.19%	-414.06%	-313.11%	0.00%
Net Operating Profit after Tax (NOPAT)	1,688	2,996	1,928	1,796	1,638	2,243	2,213	2,069	1,871	2,115
NOPAT Margin	11.27%	19.33%	12.36%	11.32%	10.10%	12.96%	12.76%	11.83%	10.70%	11.57%
Net Nonoperating Expense Percent (NNEP)	1.04%	1.03%	1.08%	1.04%	0.99%	1.04%	1.10%	1.01%	1.02%	1.11%
Return On Investment Capital (ROIC_SIMPLE)	-	7.88%	-	-	-	5.52%	-	-	-	4.85%
Cost of Revenue to Revenue	46.08%	-72.65%	45.44%	15.62%	46.60%	71.48%	59.85%	15.06%	44.95%	115.13%
SG&A Expenses to Revenue	34.60%	152.24%	34.10%	65.07%	35.75%	7.77%	20.80%	64.65%	36.45%	-35.38%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	39.62%	148.53%	39.16%	69.87%	40.48%	12.18%	24.23%	69.26%	41.29%	-29.77%
Earnings before Interest and Taxes (EBIT)	2,140	3,739	2,401	2,301	2,094	2,826	2,759	2,743	2,406	2,676
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,896	4,496	3,166	3,072	2,872	3,624	3,563	3,570	3,257	3,541
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.87	1.11	1.19	1.34	1.05	1.11	1.34	1.23	1.51	1.08
Price to Earnings (P/E)	9.66	11.82	12.60	14.35	11.61	13.71	16.29	14.67	17.69	13.20
Dividend Yield	1.19%	0.95%	0.87%	0.77%	0.97%	0.89%	0.74%	0.78%	0.63%	0.88%
Earnings Yield	10.35%	8.46%	7.93%	6.97%	8.61%	7.29%	6.14%	6.82%	5.65%	7.58%
Enterprise Value to Invested Capital (EV/IC)	2.58	2.94	3.02	3.27	2.83	2.91	3.33	3.13	3.70	2.94
Enterprise Value to Revenue (EV/Rev)	1.51	1.75	1.84	1.98	1.69	1.73	1.94	1.84	2.11	1.68
Enterprise Value to EBITDA (EV/EBITDA)	7.22	7.89	8.24	8.99	7.83	8.81	9.88	9.24	10.47	8.54
Enterprise Value to EBIT (EV/EBIT)	9.47	10.18	10.61	11.58	10.11	11.66	12.99	12.09	13.66	11.24
Enterprise Value to NOPAT (EV/NOPAT)	12.02	12.78	13.33	14.57	12.74	14.75	16.43	15.43	17.47	14.39
Enterprise Value to Operating Cash Flow (EV/OCF)	10.72	12.36	12.45	12.47	11.48	11.89	12.84	13.13	13.80	11.31
Enterprise Value to Free Cash Flow (EV/FCFF)	19.35	17.33	18.01	17.30	18.41	22.34	21.65	23.43	22.63	18.79
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-48.47	-521.70	167.48	84.45	110.21	37.35	31.65	30.53	54.66	77.53
Long-Term Debt to Equity	-48.19	-516.63	157.23	79.26	103.06	35.07	29.26	27.11	48.71	69.07
Financial Leverage	63.36	48.17	110.39	-108.94	-173.94	74.36	49.63	42.12	66.63	47.86
Leverage Ratio	96.51	72.87	162.41	-154.45	-251.95	110.08	73.02	61.65	99.78	71.66
Compound Leverage Factor	76.85	64.35	130.01	-121.42	-196.13	91.34	59.47	50.28	79.04	57.12
Debt to Total Capital	102.11%	100.19%	99.41%	98.83%	99.10%	97.39%	96.94%	96.83%	98.20%	98.73%
Short-Term Debt to Total Capital	0.59%	0.97%	6.08%	6.08%	6.43%	5.96%	7.30%	10.83%	10.70%	10.78%
Long-Term Debt to Total Capital	101.52%	99.22%	93.32%	92.75%	92.67%	91.43%	89.63%	85.99%	87.50%	87.95%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	7.02%	7.09%	6.98%	7.02%	7.14%	6.97%	6.96%	6.96%	6.78%	7.01%
Common Equity to Total Capital	-9.12%	-7.28%	-6.38%	-5.85%	-6.24%	-4.36%	-3.90%	-3.79%	-4.99%	-5.73%
Debt to EBITDA	3.01	2.85	2.86	2.86	2.89	3.11	3.06	3.00	3.07	3.09
Net Debt to EBITDA	2.87	2.69	2.72	2.71	2.74	2.94	2.87	2.85	2.77	2.86
Long-Term Debt to EBITDA	2.99	2.82	2.69	2.68	2.70	2.92	2.83	2.66	2.73	2.75
Debt to NOPAT	5.01	4.62	4.63	4.63	4.71	5.21	5.09	5.01	5.12	5.21
Net Debt to NOPAT	4.77	4.36	4.39	4.39	4.46	4.92	4.78	4.76	4.62	4.82
Long-Term Debt to NOPAT	4.98	4.57	4.35	4.34	4.40	4.89	4.71	4.45	4.56	4.64
Altman Z-Score	1.91	2.17	2.13	2.24	2.01	2.12	2.31	2.24	2.37	2.08
Noncontrolling Interest Sharing Ratio	488.25%	361.30%	800.93%	-778.56%	-1,288.84%	560.08%	373.64%	316.83%	507.61%	364.58%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.38	1.38	1.23	1.20	1.15	1.18	1.16	1.06	1.12	1.08
Quick Ratio	0.98	0.99	0.86	0.83	0.81	0.86	0.86	0.77	0.86	0.84
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,162	828	-252	469	-936	-343	313	-718	-43	178
Operating Cash Flow to CapEx	267.02%	191.01%	150.63%	199.44%	216.13%	230.72%	220.84%	153.86%	295.13%	199.14%
Free Cash Flow to Firm to Interest Expense	-2.61	1.83	-0.53	0.97	-1.94	-0.70	0.61	-1.42	-0.08	0.34
Operating Cash Flow to Interest Expense	6.77	5.58	3.76	5.10	5.13	5.45	4.82	3.90	6.83	4.85
Operating Cash Flow Less CapEx to Interest Expense	4.24	2.66	1.27	2.54	2.76	3.09	2.64	1.36	4.51	2.41
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.18	1.17	1.16	1.18	1.19	1.20	1.22	1.23	1.22	1.22
Accounts Receivable Turnover	7.04	7.09	7.09	7.14	7.12	6.89	7.14	7.21	7.29	6.82
Inventory Turnover	16.86	4.62	13.62	11.49	11.97	14.42	16.44	17.11	17.47	22.31
Fixed Asset Turnover	2.46	2.43	2.42	2.42	2.42	2.44	2.46	2.47	2.48	2.47
Accounts Payable Turnover	8.58	2.24	7.16	6.22	5.82	6.96	7.71	8.39	7.94	9.85
Days Sales Outstanding (DSO)	51.84	51.47	51.49	51.11	51.24	52.95	51.16	50.61	50.06	53.53
Days Inventory Outstanding (DIO)	21.65	78.95	26.81	31.76	30.49	25.31	22.20	21.33	20.90	16.36
Days Payable Outstanding (DPO)	42.57	162.62	51.01	58.71	62.66	52.43	47.34	43.51	45.97	37.04
Cash Conversion Cycle (CCC)	30.92	-32.20	27.29	24.17	19.07	25.82	26.01	28.43	24.98	32.85
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	35,117	35,899	37,070	37,416	37,691	38,485	38,970	40,203	39,605	40,422
Invested Capital Turnover	1.77	1.73	1.69	1.68	1.74	1.75	1.75	1.76	1.80	1.79
Increase / (Decrease) in Invested Capital	2,850	2,168	2,180	1,327	2,574	2,586	1,900	2,787	1,914	1,937
Enterprise Value (EV)	90,432	105,370	111,820	122,522	106,542	112,148	129,685	125,951	146,676	118,948
Market Capitalization	51,945	66,704	72,255	82,803	66,374	71,889	89,100	84,148	104,889	76,027
Book Value per Share	($11.74)	($9.79)	($9.01)	($8.37)	($9.11)	($6.63)	($6.11)	($6.11)	($8.46)	($9.87)
Tangible Book Value per Share	($45.37)	($43.93)	($43.63)	($43.40)	($45.06)	($43.78)	($43.80)	($44.15)	($47.13)	($49.71)
Total Capital	36,932	38,011	39,088	39,393	39,703	40,653	41,461	42,219	43,751	43,586
Total Debt	37,710	38,084	38,856	38,932	39,346	39,593	40,191	40,880	42,965	43,031
Total Long-Term Debt	37,492	37,714	36,478	36,537	36,793	37,169	37,163	36,306	38,283	38,333
Net Debt	35,895	35,972	36,838	36,955	37,334	37,425	37,700	38,864	38,819	39,867
Capital Expenditures (CapEx)	1,131	1,323	1,197	1,241	1,147	1,159	1,118	1,281	1,191	1,285
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,916	3,203	4,049	3,876	3,549	3,761	3,885	4,615	3,556	4,002
Debt-free Net Working Capital (DFNWC)	3,915	4,111	4,891	4,738	4,440	4,696	5,169	5,446	6,444	5,935
Net Working Capital (NWC)	3,697	3,741	2,513	2,343	1,887	2,272	2,141	872	1,762	1,237
Net Nonoperating Expense (NNE)	344	350	385	384	363	382	411	382	389	429
Net Nonoperating Obligations (NNO)	35,895	35,972	36,838	36,955	37,334	37,425	37,700	38,864	38,819	39,867
Total Depreciation and Amortization (D&A)	756	757	765	771	778	798	804	827	851	865
Debt-free, Cash-free Net Working Capital to Revenue	4.88%	5.32%	6.65%	6.26%	5.62%	5.79%	5.82%	6.75%	5.11%	5.67%
Debt-free Net Working Capital to Revenue	6.55%	6.83%	8.03%	7.65%	7.03%	7.23%	7.75%	7.97%	9.26%	8.41%
Net Working Capital to Revenue	6.18%	6.21%	4.13%	3.78%	2.99%	3.50%	3.21%	1.28%	2.53%	1.75%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.97	$7.30	$4.92	$4.35	$3.98	$6.00	$6.01	$5.60	$4.94	$5.72
Adjusted Weighted Average Basic Shares Outstanding	285.96M	290.35M	276.91M	274.49M	271.17M	272.40M	264.44M	261.16M	256.76M	258.60M
Adjusted Diluted Earnings per Share	$3.91	$7.20	$4.85	$4.29	$3.91	$5.92	$5.93	$5.53	$4.88	$5.66
Adjusted Weighted Average Diluted Shares Outstanding	289.85M	294.67M	280.96M	278.20M	275.42M	276.41M	268.02M	264.07M	259.92M	261.81M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	282.72M	276.97M	275.19M	271.99M	267.66M	264.50M	261.91M	258.07M	253.30M	248.34M
Normalized Net Operating Profit after Tax (NOPAT)	1,690	1,934	1,940	1,795	1,636	2,237	2,051	2,060	1,874	2,269
Normalized NOPAT Margin	11.29%	12.48%	12.44%	11.32%	10.09%	12.93%	11.83%	11.77%	10.72%	12.41%
Pre Tax Income Margin	11.38%	21.31%	12.33%	11.41%	10.05%	13.55%	12.96%	12.79%	10.90%	11.67%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.80	8.25	5.01	4.74	4.34	5.76	5.39	5.42	4.67	5.07
NOPAT to Interest Expense	3.78	6.61	4.02	3.70	3.39	4.57	4.32	4.09	3.63	4.01
EBIT Less CapEx to Interest Expense	2.26	5.33	2.51	2.19	1.96	3.40	3.21	2.89	2.36	2.63
NOPAT Less CapEx to Interest Expense	1.25	3.69	1.53	1.14	1.02	2.21	2.14	1.56	1.32	1.57
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	23.30%	24.55%	24.48%	24.32%	23.69%	21.36%	20.09%	19.83%	19.88%	21.05%
Augmented Payout Ratio	145.26%	126.98%	107.60%	81.60%	87.97%	83.93%	85.37%	89.22%	96.75%	111.81%

Frequently Asked Questions About HCA Healthcare's Financials

When does HCA Healthcare's fiscal year end?

According to the most recent income statement we have on file, HCA Healthcare's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has HCA Healthcare's net income changed over the last 9 years?

HCA Healthcare's net income appears to be on an upward trend, with a most recent value of $6.66 billion in 2024, rising from $2.70 billion in 2015. The previous period was $6.09 billion in 2023.

What is HCA Healthcare's operating income?

HCA Healthcare's total operating income in 2024 was $10.58 billion, based on the following breakdown:

Total Gross Profit: $28.68 billion
Total Operating Expenses: $18.09 billion

How has HCA Healthcare revenue changed over the last 9 years?

Over the last 9 years, HCA Healthcare's total revenue changed from $43.59 billion in 2015 to $70.60 billion in 2024, a change of 62.0%.

How much debt does HCA Healthcare have?

HCA Healthcare's total liabilities were at $58.96 billion at the end of 2024, a 6.9% increase from 2023, and a 52.0% increase since 2015.

How much cash does HCA Healthcare have?

In the past 9 years, HCA Healthcare's cash and equivalents has ranged from $502 million in 2018 to $1.93 billion in 2024, and is currently $1.93 billion as of their latest financial filing in 2024.

How has HCA Healthcare's book value per share changed over the last 9 years?

Over the last 9 years, HCA Healthcare's book value per share changed from -18.64 in 2015 to -9.87 in 2024, a change of -47.1%.

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This page (NYSE:HCA) was last updated on 4/24/2025 by MarketBeat.com Staff

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HCA Healthcare (HCA) Financials

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HCA Healthcare (HCA) Financials

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