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HCA Healthcare, Inc. (HCA) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

HEALTHCARE · Health Care Facilities · DATA UPDATED 2026-07-13

HCA Healthcare, Inc. (HCA) operates in the Health Care Facilities industry and is headquartered in Nashville, United States with about 230,000 employees. Its market capitalization is roughly $85 billion. In the fiscal year ended 2025-12-31, HCA reported $75.6B in revenue and $6.8B in net income.

HCA Healthcare, Inc., through its subsidiaries, provides health care services in the United States.

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HCA Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$76.4B	$75.6B	$70.6B	$65.0B	$60.2B	$58.8B	$51.5B	$51.3B	$46.7B	$43.6B	$41.5B	$39.7B	$36.9B	$34.2B	$33.0B	$32.5B	$30.7B	$30.1B	$28.4B	$26.9B	$25.5B
Gross Profit	$26.7B	$31.4B	$28.7B	$25.6B	$23.2B	$22.5B	$43.2B	$42.9B	$39.0B	$36.3B	$34.6B	$33.0B	$30.7B	$28.2B	$27.3B	$24.5B	$23.1B	$25.2B	$23.8B	$22.5B	$21.2B
Gross Margin %	34.9%	41.5%	40.6%	39.4%	38.5%	38.3%	83.8%	83.5%	83.5%	83.2%	83.3%	83.3%	83.0%	82.5%	82.7%	75.4%	75.2%	83.8%	83.7%	83.6%	83.0%
Operating Income (EBIT)	$12.0B	$12.0B	$10.5B	$9.6B	$9.1B	$9.7B	$7.3B	$7.2B	$6.6B	$6.1B	$6.2B	$6.0B	$5.6B	$4.8B	$4.8B	$4.3B	$4.2B	$3.8B	$2.9B	$3.0B	$2.8B
Operating Margin %	15.7%	15.8%	14.9%	14.8%	15.0%	16.5%	14.1%	14.1%	14.2%	13.9%	14.9%	15.0%	15.1%	14.0%	14.6%	13.4%	13.6%	12.7%	10.3%	11.0%	11.1%
Net Income	$6.8B	$6.8B	$5.8B	$5.2B	$5.6B	$7.0B	$3.8B	$3.5B	$3.8B	$2.2B	$2.9B	$2.1B	$1.9B	$1.6B	$1.6B	$2.5B	$1.2B	$1.1B	$673M	$874M	$1.0B
Net Margin %	8.9%	9.0%	8.2%	8.1%	9.4%	11.8%	7.3%	6.8%	8.1%	5.1%	7.0%	5.4%	5.1%	4.5%	4.9%	7.6%	3.9%	3.5%	2.4%	3.2%	4.1%
EBITDA	$15.7B	$15.6B	$13.9B	$12.7B	$13.3B	$14.3B	$9.7B	$9.7B	$9.4B	$8.2B	$8.5B	$7.5B	$7.0B	$6.5B	$6.4B	$7.1B	$5.7B	$5.4B	$4.6B	$4.8B	$4.0B
Earnings Per Share (EPS)	$28.90	$29.40	$22.00	$18.96	$19.15	$21.16	$10.87	$10.07	$10.66	$5.95	$7.30	$4.99	$4.16	$3.37	$3.49	$4.97	$2.76	$3.02	$1.93	$2.51	$2.53
Shares Outstanding (M)	227M	231M	262M	276M	295M	329M	345M	348M	355M	372M	396M	427M	450M	462M	459M	496M	437M	349M	349M	349M	410M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

HCA Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$19.1B	$19.5B	$19.2B	$18.6B	$18.3B	$18.3B	$17.5B	$17.5B
Gross Profit	$2.9B	$8.2B	$8.0B	$7.6B	$7.6B	$7.6B	$7.0B	$7.2B
Gross Margin %	15.0%	41.9%	41.8%	41.0%	41.3%	41.4%	39.9%	41.0%
Operating Income (EBIT)	$2.9B	$3.2B	$3.0B	$3.0B	$2.9B	$2.8B	$2.4B	$2.7B
Operating Margin %	15.0%	16.3%	15.5%	16.0%	15.6%	15.6%	13.8%	15.6%
Net Income	$1.6B	$1.9B	$1.6B	$1.7B	$1.6B	$1.4B	$1.3B	$1.5B
Net Margin %	8.5%	9.6%	8.6%	8.9%	8.8%	7.9%	7.3%	8.3%
EBITDA	$3.8B	$4.2B	$3.9B	$3.8B	$3.7B	$3.5B	$3.3B	$3.6B
Earnings Per Share (EPS)	$7.15	$8.14	$6.78	$6.83	$6.45	$5.63	$4.89	$5.53
Shares Outstanding (M)	227M	231M	242M	242M	249M	255M	260M	264M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

HCA Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$13.0B	$12.6B	$10.5B	$9.4B	$8.5B	$9.0B	$9.2B	$7.6B	$6.8B	$5.4B	$5.7B	$4.7B	$4.4B	$3.7B	$4.2B	$3.9B	$3.1B	$2.7B	$1.8B	$1.4B	$1.8B
Capital Expenditures (CapEx)	$5.1B	$4.9B	$4.9B	$4.7B	$4.4B	$3.6B	$2.8B	$4.2B	$3.6B	$3.0B	$2.8B	$2.4B	$2.2B	$1.9B	$1.9B	$1.7B	$1.3B	$1.3B	$1.6B	$1.4B	$1.9B
Free Cash Flow (FCF)	$7.9B	$7.7B	$5.6B	$4.7B	$4.1B	$5.4B	$6.4B	$3.4B	$3.2B	$2.4B	$2.9B	$2.4B	$2.3B	$1.7B	$2.3B	$2.3B	$1.8B	$1.4B	$197M	($48M)	($20M)
FCF Margin %	10.4%	10.2%	8.0%	7.2%	6.9%	9.2%	12.4%	6.7%	6.8%	5.5%	7.0%	5.9%	6.2%	5.1%	7.0%	6.9%	5.7%	4.8%	0.7%	-0.2%	-0.1%
Dividends Paid	$682M	$679M	$690M	$661M	$653M	$624M	$153M	$550M	$487M	$448M	$434M	$495M	$7M	$16M	$3.1B	$31M	$4.3B	—	—	$496M	$201M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

HCA Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$2.0B	$2.4B	$4.4B	$4.2B	$1.7B	$2.6B	$3.5B	$2.0B
Capital Expenditures (CapEx)	$1.1B	$1.5B	$1.3B	$1.2B	$991M	$1.3B	$1.2B	$1.3B
Free Cash Flow (FCF)	$895M	$870M	$3.1B	$3.0B	$660M	$1.3B	$2.3B	$690M
FCF Margin %	4.7%	4.5%	16.3%	16.3%	3.6%	7.0%	13.3%	3.9%
Dividends Paid	$183M	$162M	$166M	$171M	$180M	$165M	$169M	$171M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

HCA Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$61.5B	$60.7B	$59.5B	$56.2B	$52.4B	$50.7B	$47.5B	$45.1B	$39.2B	$36.6B	$33.8B	$32.7B	$31.2B	$28.8B	$28.1B	$26.9B	$23.9B	$24.1B	$24.3B	$24.0B	$23.7B
Cash & Cash Equivalents	$940M	$1.0B	$1.9B	$935M	$908M	$1.5B	$1.8B	$621M	$502M	$732M	$646M	$741M	$566M	$414M	$705M	$373M	$411M	$312M	$465M	$393M	$634M
Total Liabilities	$64.4B	$63.5B	$59.0B	$55.2B	$52.5B	$49.3B	$44.6B	$45.6B	$42.1B	$41.6B	$39.4B	$38.8B	$37.7B	$35.8B	$36.4B	$33.9B	$34.6B	$32.1B	$33.5B	$33.6B	$34.1B
Total Debt (Short + Long-Term)	$48.0B	$46.8B	$43.4B	$40.0B	$38.4B	$35.0B	$31.4B	$34.1B	$32.8B	$33.1B	$31.4B	$30.5B	$29.6B	$28.4B	$28.9B	$27.1B	$28.2B	$25.7B	$27.0B	$27.3B	$28.4B
Total Shareholders' Equity	($6.3B)	($2.8B)	$555M	$1.1B	($73M)	$1.5B	$2.9B	($565M)	($2.9B)	($5.0B)	($5.6B)	($6.0B)	($6.5B)	($6.9B)	($8.3B)	($7.0B)	($10.8B)	($8.0B)	($9.3B)	($9.6B)	($10.5B)

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive HCA viewer.

Other Companies in Health Care Facilities

UHS · Universal Health Services — $9 billion

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