FirmAtlas
Company handbook · HCA · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
HCA · CIK 860730 · LATEST FILING: 10-Q JUN '26 · FILED JUL 28, 2026
HCA Healthcare, Inc.
$458.84
−9.66 (−2.06%)
Close, Oct 16, 2026 · 52-week $354–557
Last fiscal year
HCA Healthcare, Inc. reported revenue of $75.6B for the year ended Dec 31, 2025 (FY25), up 7.1% from FY24. Net income was $6.8B, operating cash flow $12.6B and free cash flow $7.7B. Source: 10-K filed Feb 10, 2026.
Market cap
$103.1B
P/E
15.2
P/B
n/m
Div yield
0.67%
Revenue 1Y
7.1%/yr
EPS 1Y
28.8%/yr
Shares 1Y
−10%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOSamuel N. Hazen
HQNashville, TN
AuditorErnst & Young LLP
Employees320,000
Year endsDecember
Revenue by segment · FY25
American Group35%
Atlantic Group33%
National Group28%
Corporate And Other4%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
19.0%
13.2%
24.2%
9.4%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$27.3B deployed
Capex
$9.8B
36.0%
Dividends
$1.4B
5.0%
Buybacks
$16.1B
59.0%
Operating cash flow over the period: $23.1B. Total debt changed by −$3.3B.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Mar '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Balance sheet
Total assets
59,513
60,720+2.0%
61,450
Cash & short-term investments
1,933
1,040−46.2%
—
Accounts receivable
10,751
10,867+1.1%
—
Inventory
1,738
1,652−4.9%
—
Net PP&E
29,414
31,141+5.9%
—
Other assets
15,677
16,020+2.2%
—
Total liabilities
62,012
66,747+7.6%
67,753
Accounts payable
4,276
4,659+9.0%
—
Total debt
47,729
44,418−6.9%
44,373
Other liabilities
10,007
17,670+76.6%
—
Shareholders’ equity
(2,499)
(6,027)n/m
(6,303)
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
10,514
12,636+20.2%
12,999
Net income
6,657
7,782+16.9%
—
Depreciation & amortization
3,312
3,523+6.4%
—
Stock-based compensation
360
401+11.4%
—
Working capital & other
185
930+402.7%
—
Cash from investing
(4,933)
(4,988)n/m
—
Capex
(4,875)
(4,944)n/m
—
Other investing
(58)
(44)n/m
—
Cash from financing
(4,582)
(8,550)n/m
—
Debt raised
7,495
8,474+13.1%
—
Debt repaid
(2,410)
(7,389)n/m
—
Dividends
(690)
(679)n/m
—
Buybacks
(6,042)
(10,067)n/m
—
Other financing
(2,935)
1,111n/m
—
Net change in cash
998
(893)−189.5%
—
Free cash flow (OCF − capex)
5,639
7,692+36.4%
7,927
Where the cash went
Operating cash flow
10,514
12,636+20.2%
12,999
Reinvested in the business
4,875
4,944+1.4%
—
% of operating cash flow
46.4%
39.1%
Capex
4,875
4,944+1.4%
5,072
Free cash flow
5,639
7,692+36.4%
7,927
YoY
+36.4%
Returned to shareholders
6,732
10,746+59.6%
—
% of free cash flow
119.4%
139.7%
Dividends
690
679−1.6%
—
Buybacks
6,042
10,067+66.6%
—
Change in total debt
—
(3,311)
—
Cash left over
—
(6,365)
—
FCF conversion (FCF ÷ net income)
97.9%
113.4%+15.5 pp
—
Owner earnings
—
5,716
—
Owner earnings margin
—
7.6%
—
Buyback yield
8.1%
9.6%+1.5 pp
—
Income
Jun '25
Sep '25
Dec '25
Mar '26
Revenue
18,605
19,161
19,513
19,109
vs year-ago quarter
Net income
1,653
1,643
1,878
1,620
vs year-ago quarter
Net margin
8.9%
8.6%
9.6%
8.5%
EPS (diluted, $)
6.83
6.96
8.36
7.15
vs year-ago quarter
Balance sheet
Jun '25
Sep '25
Dec '25
Mar '26
Total assets
59,536
59,747
60,720
61,450
Cash & equivalents
939
997
1,040
940
Total debt
42,705
42,601
44,418
44,373
Shareholders’ equity
(4,394)
(5,335)
(6,027)
(6,303)
Cash flow
Jun '25
Sep '25
Dec '25
Mar '26
Operating cash flow
4,210
4,416
2,359
2,014
Capex
1,176
1,288
1,489
1,119
Free cash flow
3,034
3,128
870
895
vs year-ago quarter