Financials HCA Healthcare, Inc.

Equities

HCA

US40412C1018

Healthcare Facilities & Services

Market Closed - Nyse Other stock markets 01:30:03 17/03/2026 am IST			5-day change	1st Jan Change
525.19 ^USD	-1.46%		-3.66%	+12.49%

17/03	HCA Healthcare, Inc. Presents at Oppenheimer 36th Annual Healthcare MedTech & Services Conference, Mar-16-2026 03:20 PM
12/03	US insurers and hospitals turn to new AI for age-old battle over charges vs payments	RE

Projected Income Statement: HCA Healthcare, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	58,752	60,233	64,968	70,603	75,600	78,685	82,508	87,144
Change	-	2.52%	7.86%	8.67%	7.08%	4.08%	4.86%	5.62%
EBITDA ¹	12,644	12,067	12,726	13,882	15,566	16,019	16,760	17,727
Change	-	-4.56%	5.46%	9.08%	12.13%	2.91%	4.63%	5.77%
EBIT ¹	9,791	9,098	9,649	10,570	12,043	12,348	12,875	13,701
Change	-	-7.08%	6.06%	9.55%	13.94%	2.53%	4.27%	6.42%
Interest Paid ¹	-1,566	-1,741	-1,938	-2,061	-2,248	-2,403	-2,459	-2,484
Earnings before Tax (EBT) ¹	9,833	8,580	7,706	8,523	9,832	10,063	10,517	11,225
Change	-	-12.74%	-10.19%	10.6%	15.36%	2.35%	4.51%	6.73%
Net income ¹	6,956	5,643	5,242	5,760	6,784	6,825	7,145	7,589
Change	-	-18.88%	-7.11%	9.88%	17.78%	0.6%	4.69%	6.22%
Announcement Date	27/01/22	27/01/23	30/01/24	24/01/25	27/01/26	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	13,977	14,435	15,276	15,064	14,945	14,820	14,971	15,497	15,591	15,861	16,213	17,303	17,339	17,492	17,487	18,285	18,321	18,605	19,161	19,513	19,086	19,339	19,766	20,294	20,027	20,246	20,704	21,244
Change	-	3.28%	5.83%	-1.39%	-0.79%	-0.84%	1.02%	3.51%	0.61%	1.73%	2.22%	6.72%	0.21%	0.88%	-0.03%	4.56%	0.2%	1.55%	2.99%	1.84%	-2.19%	1.33%	2.21%	2.67%	-1.31%	1.09%	2.26%	2.61%
EBITDA ¹	3,052	3,219	3,224	3,149	2,944	3,042	2,902	3,179	3,172	3,056	2,880	3,618	3,353	3,550	3,267	3,712	3,733	3,849	3,870	4,114	3,875	3,969	3,926	4,227	4,095	4,164	4,105	4,451
Change	-	5.47%	0.16%	-2.33%	-6.51%	3.33%	-4.6%	9.55%	-0.22%	-3.66%	-5.76%	25.62%	-7.32%	5.88%	-7.97%	13.62%	0.57%	3.11%	0.55%	6.3%	-5.8%	2.41%	-1.09%	7.69%	-3.14%	1.69%	-1.42%	8.43%
EBIT ¹	2,355	2,507	2,508	2,421	2,212	2,304	2,153	2,429	2,416	2,293	2,111	2,829	2,558	2,731	2,425	2,856	2,873	2,986	2,981	3,203	2,960	3,054	3,018	3,265	3,156	3,220	3,154	3,472
Change	-	6.45%	0.04%	-3.47%	-8.63%	4.16%	-6.55%	12.82%	-0.54%	-5.09%	-7.94%	34.01%	-9.58%	6.76%	-11.2%	17.77%	0.6%	3.93%	-0.17%	7.45%	-7.6%	3.2%	-1.21%	8.19%	-3.34%	2.05%	-2.06%	10.07%
Charge d'intérêts ¹	-384	-386	-398	-398	-408	-434	-446	-453	-479	-485	-483	-491	-512	-506	-515	-528	-547	-568	-561	-572	-595.8	-598.6	-602.1	-604.3	-596.5	-598	-602.2	-603.8
Earnings before Tax (EBT) ¹	1,973	2,117	3,157	2,586	1,814	1,760	1,704	3,302	1,922	1,809	1,630	2,345	2,247	2,237	1,906	2,133	2,327	2,415	2,418	2,672	2,422	2,460	2,428	2,620	2,583	2,599	2,564	2,785
Change	-	7.3%	49.13%	-18.09%	-29.85%	-2.98%	-3.18%	93.78%	-41.79%	-5.88%	-9.89%	43.87%	-4.18%	-0.45%	-14.8%	11.91%	9.1%	3.78%	0.12%	10.5%	-9.38%	1.61%	-1.33%	7.94%	-1.42%	0.61%	-1.33%	8.59%
Net income ¹	1,423	1,450	2,269	1,814	1,273	1,155	1,134	2,081	1,363	1,193	1,079	1,607	1,591	1,461	1,270	1,438	1,610	1,653	1,643	1,878	1,659	1,686	1,610	1,830	1,768	1,782	1,696	1,950
Change	-	1.9%	56.48%	-20.05%	-29.82%	-9.27%	-1.82%	83.51%	-34.5%	-12.47%	-9.56%	48.93%	-1%	-8.17%	-13.07%	13.23%	11.96%	2.67%	-0.6%	14.3%	-11.65%	1.6%	-4.5%	13.64%	-3.34%	0.77%	-4.8%	14.95%
Announcement Date	22/04/21	20/07/21	22/10/21	27/01/22	22/04/22	22/07/22	21/10/22	27/01/23	21/04/23	27/07/23	24/10/23	30/01/24	26/04/24	23/07/24	25/10/24	24/01/25	25/04/25	25/07/25	24/10/25	27/01/26	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: HCA Healthcare, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	33,128	37,176	38,658	41,098	45,452	47,334	45,004	49,904
Change	-	12.22%	3.99%	6.31%	10.59%	4.14%	-4.92%	10.89%
Announcement Date	27/01/22	27/01/23	30/01/24	24/01/25	27/01/26	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: HCA Healthcare, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	3,577	4,395	4,744	4,875	4,944	5,206	5,421	5,816
Change	-	22.87%	7.94%	2.76%	1.42%	5.3%	4.12%	7.29%
Free Cash Flow (FCF) ¹	5,382	4,127	4,687	5,639	7,692	7,510	7,833	7,410
Change	-	-23.32%	13.57%	20.31%	36.41%	-2.37%	4.3%	-5.4%
Announcement Date	27/01/22	27/01/23	30/01/24	24/01/25	27/01/26	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: HCA Healthcare, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	21.52%	20.03%	19.59%	19.66%	20.59%	20.36%	20.31%	20.34%
EBIT Margin (%)	16.66%	15.1%	14.85%	14.97%	15.93%	15.69%	15.6%	15.72%
EBT Margin (%)	16.74%	14.24%	11.86%	12.07%	13.01%	12.79%	12.75%	12.88%
Net margin (%)	11.84%	9.37%	8.07%	8.16%	8.97%	8.67%	8.66%	8.71%
FCF margin (%)	9.16%	6.85%	7.21%	7.99%	10.17%	9.54%	9.49%	8.5%
FCF / Net Income (%)	77.37%	73.13%	89.41%	97.9%	113.38%	110.04%	109.63%	97.64%
Profitability
ROA	14.16%	10.94%	9.46%	9.95%	11.28%	11.08%	11.11%	11.2%
ROE	352.48%	-	-	-	-	9,522.46%	85.33%	-
Financial Health
Leverage (Debt/EBITDA)	2.62x	3.08x	3.04x	2.96x	2.92x	2.95x	2.69x	2.82x
Debt / Free cash flow	6.16x	9.01x	8.25x	7.29x	5.91x	6.3x	5.75x	6.73x
Capital Intensity
CAPEX / Current Assets (%)	6.09%	7.3%	7.3%	6.9%	6.54%	6.62%	6.57%	6.67%
CAPEX / EBITDA (%)	28.29%	36.42%	37.28%	35.12%	31.76%	32.5%	32.34%	32.81%
CAPEX / FCF (%)	66.46%	106.49%	101.22%	86.45%	64.27%	69.32%	69.2%	78.49%
Items per share
Cash flow per share ¹	27.25	28.92	34.12	40.16	52.76	53.74	57.21	-
Change	-	6.13%	17.97%	17.7%	31.38%	1.86%	6.45%	-
Dividend per Share ¹	1.92	2.24	2.4	2.64	-	3.038	3.219	3.553
Change	-	16.67%	7.14%	10%	-	-	5.96%	10.37%
Book Value Per Share ¹	-2.838	-9.39	-6.681	-9.997	-	-28.56	-30.72	-34.42
Change	-	-230.88%	28.85%	-49.63%	-	-	-7.56%	-12.05%
EPS ¹	21.16	19.15	18.97	22	28.33	30.43	33.24	37.56
Change	-	-9.5%	-0.94%	15.97%	28.77%	7.41%	9.22%	13.02%
Nbr of stocks (in thousands)	3,11,023	2,82,717	2,67,661	2,53,297	2,28,194	2,23,569	2,23,569	2,23,569
Announcement Date	27/01/22	27/01/23	30/01/24	24/01/25	27/01/26	-	-	-