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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 2026-08-29

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 $93 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.

Interactive charts & full statements → Open the HCA valuation workbench →

HCA Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	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	$78.0B	$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	$22.1B	$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 %	28.4%	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)	$12.1B	$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 %	15.5%	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 %	8.8%	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	$15.8B	$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)	$29.69	$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)	223M	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	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$20.2B	$19.1B	$19.5B	$19.2B	$18.6B	$18.3B	$18.3B	$17.5B
Gross Profit	$3.1B	$2.9B	$8.2B	$8.0B	$7.6B	$7.6B	$7.6B	$7.0B
Gross Margin %	15.2%	15.0%	41.9%	41.8%	41.0%	41.3%	41.4%	39.9%
Operating Income (EBIT)	$3.1B	$2.9B	$3.2B	$3.0B	$3.0B	$2.9B	$2.8B	$2.4B
Operating Margin %	15.2%	15.0%	16.3%	15.5%	16.0%	15.6%	15.6%	13.8%
Net Income	$1.7B	$1.6B	$1.9B	$1.6B	$1.7B	$1.6B	$1.4B	$1.3B
Net Margin %	8.4%	8.5%	9.6%	8.6%	8.9%	8.8%	7.9%	7.3%
EBITDA	$4.0B	$3.8B	$4.2B	$3.9B	$3.8B	$3.7B	$3.5B	$3.3B
Earnings Per Share (EPS)	$7.62	$7.15	$8.14	$6.78	$6.83	$6.45	$5.63	$4.89
Shares Outstanding (M)	223M	227M	231M	242M	242M	249M	255M	260M

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

HCA Free Cash Flow History

Cash flow	TTM → 2026-06-30	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)	$11.1B	$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)	$6.0B	$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 %	7.7%	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	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$2.3B	$2.0B	$2.4B	$4.4B	$4.2B	$1.7B	$2.6B	$3.5B
Capital Expenditures (CapEx)	$1.2B	$1.1B	$1.5B	$1.3B	$1.2B	$991M	$1.3B	$1.2B
Free Cash Flow (FCF)	$1.1B	$895M	$870M	$3.1B	$3.0B	$660M	$1.3B	$2.3B
FCF Margin %	5.5%	4.7%	4.5%	16.3%	16.3%	3.6%	7.0%	13.3%
Dividends Paid	$171M	$183M	$162M	$166M	$171M	$180M	$165M	$169M

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

HCA Balance Sheet History

Balance sheet	2026-06-30	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	$60.5B	$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	$1.0B	$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	$63.7B	$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)	$51.6B	$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	($6.6B)	($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.

HCA Metric Deep Dives

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