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HCA Healthcare, Inc., through its subsidiaries, provides health care services in the United States. The company owns, manages, and operates hospitals, ASCs, freestanding emergency care facilities, urgent care facilities, walk-in clinics, diagnostic and imaging centers, radiation and oncology therapy centers, as well as rehabilitation and physical therapy centers, physician practices, home health agencies, hospices, outpatient physical therapy providers, home and community-based services providers, and various other facilities. Its general and acute care hospitals offer medical and surgical services, including inpatient care, intensive care, cardiac care, diagnostic services, and emergency services; and outpatient services, such as outpatient surgery, laboratory, radiology, respiratory therapy, cardiology, and physical therapy. The company was formerly known as HCA Holdings, Inc. HCA Healthcare, Inc. was founded in 1968 and is headquartered in Nashville, Tennessee.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $75.6B | $15.6B | $6.8B | $7.7B | -112.6% | 7.1% | 17.8% |
| 2024 | $70.6B | $13.9B | $5.8B | $5.6B | -230.5% | 8.7% | 9.9% |
| 2023 | $65.0B | $12.7B | $5.2B | $4.7B | -295.5% | 7.9% | -7.1% |
| 2022 | $60.2B | $13.3B | $5.6B | $4.1B | -203.9% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 60,233 | 64,968 | 70,603 | 75,600 |
| Cost Of Revenue | - | 37,056 | 39,389 | 41,925 | 44,226 |
| Gross Profit | - | 23,177 | 25,579 | 28,678 | 31,374 |
| Operating Expense | - | 14,124 | 15,952 | 18,131 | 19,409 |
| Operating Income | - | 9,053 | 9,627 | 10,547 | 11,965 |
| EBITDA | - | 13,290 | 12,721 | 13,896 | 15,603 |
| EBIT | - | 10,321 | 9,644 | 10,584 | 12,080 |
| Pretax Income | - | 8,580 | 7,706 | 8,523 | 9,832 |
| Tax Provision | - | 1,746 | 1,615 | 1,866 | 2,050 |
| Net Income | - | 5,643 | 5,242 | 5,760 | 6,784 |
| Net Income Common Stockholders | - | 5,643 | 5,242 | 5,760 | 6,784 |
| Total Expenses | - | 51,180 | 55,341 | 60,056 | 63,635 |
| Interest Expense | - | 1,741 | 1,938 | 2,061 | 2,248 |
| Selling General And Administration | 26,779 | 27,685 | 29,487 | 31,170 | - |
| Normalized EBITDA | - | 12,067 | 12,726 | 13,882 | 15,566 |
| Normalized Income | - | 4,668.27 | 5,245.95 | 5,749.07 | 6,754.73 |
| Market Cap | 96,684.63 | 96,684.63 | 96,684.63 | 96,684.63 | 96,684.63 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| HCA Healthcare, Inc.this co. | HCA | $97.1B | 14.25↓ discount | -16.04 | -112.6% | 9.25 |
| Bristol-Myers Squibb Company | BMY | $119.3B | 16.99 | 6.49 | 38.2% | 10.30 |
| Vertex Pharmaceuticals Incorporated | VRTX | $110.1B | 27.69 | 5.86 | 21.2% | 21.86 |
| Medtronic plc | MDT | $107.0B | 22.95 | 2.23 | 9.7% | 14.46 |
| McKesson Corporation | MCK | $105.5B |
| - |
| - |
| - |
| - |
| - |
| 30.78 |
| -48.91 |
| -158.9% |
| 19.61 |
| CVS Health Corporation | CVS | $98.4B | 56.50 | 1.33 | 2.4% | 17.38 |
| Boston Scientific Corporation | BSX | $91.8B | 31.83 | 3.81 | 12.0% | 19.94 |
| Regeneron Pharmaceuticals, Inc. | REGN | $78.6B | 17.64 | 2.54 | 14.4% | 13.59 |
| Elevance Health, Inc. | ELV | $77.2B | 13.22 | 1.71 | 12.9% | - |
| Peer Median | - | 25.32 | 2.38 | 12.4% | 17.38 | |