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Stocks / United States / HCA · Services-General Medical & Surgical Hospitals, Nec · NYSE

HCA Healthcare, Inc. (HCA)

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HCA Healthcare, Inc. (HCA) reported revenue of $19.1 billion for Q1 FY2026, the quarter ended 31 March 2026, up 4.3% on the same quarter a year earlier. Net income was $1.6 billion, up 0.6% on the year, and diluted earnings per share $7.15. The figures are the company's own, from the 10-Q it filed with the SEC on 29 April 2026.

Revenue$19.1 billionup 4.3%
Net income$1.6 billionup 0.6%
Diluted EPS$7.15
QuarterQ1 FY2026ended 31 March 2026

Ratios

From the filings

ROEn/a
ROCEn/a
Operating margin12.8%
Net margin8.9%
FCF margin10.4%
Interest cover4.29
Debt to equityn/a
Cash conversion1.91
Share count, 1 year-8.4%
Sales CAGR, 3 years7.9%
Profit CAGR, 3 years6.3%
EPS, TTM$29.03

At the close of 21 September 2026

Price$425.97
Market cap$94.8 billion
Stock P/E14.67
Price to bookn/a
EV / EBITDA10.60
Dividend yield0.7%
Market cap / sales1.24
52-week high$545.13
52-week low$361.32
Price, 1 year5.9%
Price CAGR, 3 years19.1%
Price CAGR, 5 years10.5%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on the total debt HCA Healthcare, Inc. states in its own filing, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on HCA

Filings21 in twelve months: 13 current reports (8-K), about 9 other events; 5 results of operations; 5 regulation fd disclosure; 3 new financial obligation; 2 officer or director change
Planned insider sales5 Form 144 notices in twelve months, $29.1 million; latest 18 February 2026
Options tapeput/call 0.81 by open interest on 23 September 2026; the straddle prices a 6.2% move to 16 October 2026
Holders10 of the followed funds hold it; largest Geode Capital Management; 2 Schedule 13D or 13G filings in twelve months
Insider trading13 sales and 0 purchases on Form 4 in twelve months
Congress1 House trade disclosed in six months
Short interest6.1 million shares short, 4.92 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 5 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026
Revenue15,86116,21317,30317,33917,49217,48718,28518,32118,60519,16119,51319,109
Operating income1,8091,6302,3452,2472,2371,9062,1332,3272,4152,4182,6722,287
Operating margin11%10%14%13%13%11%12%13%13%13%14%12%
Interest expense485483491512506515528547568561572584
Pre-tax income1,8091,6302,3452,2472,2371,9062,1332,3272,4152,4182,6722,287
Tax rate22%22%21%20%25%22%21%22%22%21%19%19%
Net income1,1931,0791,6071,5911,4611,2701,4381,6101,6531,6431,8781,620
Net margin8%7%9%9%8%7%8%9%9%9%10%8%
Diluted EPS$4.29$3.91$5.92$5.93$5.53$4.88$5.66$6.45$6.83$6.96$8.09$7.15
Operating cash flow2,4752,4792,6742,4691,9713,5152,5591,6514,2104,4162,3592,014
Capital expenditure1,2411,1471,1591,1181,2811,1911,2859911,1761,2881,4891,119
Free cash flow1,2341,3321,5151,3516902,3241,2746603,0343,128870895
Buybacks9151,1409101,1801,3671,7951,7002,5062,5052,4982,5581,571
Dividends paid164162160185171169165180171166162183
Shares outstanding273m269m266m263m259m255m250m243m236m230m225m223m
Filing10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 10 fiscal years and the trailing twelve months

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue41,49043,61446,67751,33651,53358,75260,23364,96870,60375,60076,388
Operating income4,8104,3815,3355,2445,4309,8338,5807,7068,5239,8329,792
Operating margin11.6%10.0%11.4%10.2%10.5%16.7%14.2%11.9%12.1%13.0%12.8%
Interest expense1,7071,6901,7551,8241,5841,5661,7411,9382,0612,2482,285
Pre-tax income4,8104,3815,3355,2445,4309,8338,5807,7068,5239,8329,792
Income tax1,3781,6389461,0991,0432,1121,7461,6151,8662,0501,978
Effective tax rate28.6%37.4%17.7%21.0%19.2%21.5%20.3%21.0%21.9%20.9%20.2%
Net income2,8902,2163,7873,5053,7546,9565,6435,2425,7606,7846,794
Net margin7.0%5.1%8.1%6.8%7.3%11.8%9.4%8.1%8.2%9.0%8.9%
Diluted EPS$7.30$5.95$10.66$10.07$10.93$21.16$19.15$18.97$22.00$28.33$29.03
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow5,6535,4266,7617,6029,2328,9598,5229,43110,51412,63612,999
Capital expenditure2,7603,0153,5734,1582,8353,5774,3954,7444,8754,9445,072
Free cash flow2,8932,4113,1883,4446,3975,3824,1274,6875,6397,6927,927
Free cash flow margin7.0%5.5%6.8%6.7%12.4%9.2%6.9%7.2%8.0%10.2%10.4%
Depreciation and amortisation1,9662,1312,2782,5962,7212,8532,9693,0773,3123,5233,593
Share-based compensation251270268347362440341262360401389
Buybacks2,7512,0511,5301,0314418,2157,0003,8116,04210,0679,132
Dividends paidn/a0.0487550153624653661690679682
Dividend per sharen/an/a$1.40$1.60$0.43$1.92$2.24$2.40$2.64$2.88$2.94
Diluted shares, weighted396m372m355m348m344m329m295m276m262m239m227m
Shares outstanding at period end371m350m343m338m339m305m277m266m250m225m223m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Total assets33,75836,59339,20745,05847,49050,74252,43856,21159,51360,72061,450
Cash and equivalents6467325026211,7931,4519089351,9331,040940
Receivables5,8266,5016,7897,3807,0518,0958,8919,95810,75110,86711,324
Inventory1,5031,5731,7321,8492,0251,9862,0682,0211,7381,6521,681
Total debt, as filedn/an/an/an/an/an/an/an/a43,03146,49248,023
Long-term debt31,37633,05832,82133,72231,00434,57938,08439,59343,03144,28544,373
Borrowings, as the company tags them31,54633,22232,97833,96131,24034,82738,38539,92643,40046,92848,456
Operating lease liabilitiesn/an/an/a1,4991,6731,7551,7521,9031,8631,8531,822
Finance lease liabilitiesn/an/an/a470494577579541624625n/a
Shareholders' equity-7,302-6,806-4,950-2,808572-933-2,767-1,774-2,499-6,027-6,303
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a8.0%7.9%6.7%
Profit growth, compoundedn/a12.6%6.3%17.6%
Return on equity, averagen/an/an/an/a

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Services-General Medical & Surgical Hospitals, Nec

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
HCA Healthcare, Inc. HCA$94.8 billion14.67n/a12.8%6.7%n/a0.7%
Universal Health Services Inc. UHS$10.5 billion7.1320.3%11.4%10.0%0.650.5%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q30 June 202628 July 2026EDGAR
10-Q31 March 202629 April 2026EDGAR
10-K31 December 202510 February 2026EDGAR
10-Q30 September 202530 October 2025EDGAR
10-Q30 June 20254 August 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K31 December 202414 February 2025EDGAR
10-Q30 September 202431 October 2024EDGAR
10-Q30 June 202429 July 2024EDGAR
10-Q31 March 20242 May 2024EDGAR

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