Company Analysis

HCA Healthcare, Inc. (HCA)

NYSE: HCA · Services-General Medical & Surgical Hospitals, NEC · Nashville, TN · filing with the SEC since 1994
Grade6.3
◀ Past 7.5● Present 6.6▶ Future 4.5

The grade of HCA Healthcare, Inc.

Nine metrics read from its own filings, by tense
Headline grade
6.3/10
◀ Past7.530% of the headline
● Present6.640% of the headline
▶ Future4.530% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

All nine metrics read as filed from the record.

◀ Past

What did they actually do?

7.5/1030% of the headline grade · 3 of 3 filed

Surviving crises

as filed
7.3/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 33% of this tense · 73rd percentile among 22 sector filers · read for itself

From the record

HCA Healthcare, Inc.'s filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
6.8/10

What has it actually done, year after year?

+6.7% a year over 7 filed years; profitable in 7 of 7.

weight 45% of this tense · 68th percentile among 22 sector filers · read for its customers

From the record

HCA Healthcare, Inc.'s 7 filed years say what it did: revenue went from $51 billion in fiscal 2019 to $76 billion in fiscal 2025, up 6.7% a year; it rose in 6 of 6 years; it never fell from a peak; net income was positive in 7 of 7 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span6.7%bottom 48% of its family
  • the share of years revenue rosetop 25% of its family
  • the share of filed years with a profittop 25% of its family
  • the deepest fall from a revenue peak0.0%top 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
9.3/10

How has it treated the people who own it?

Share count shrank 6.7% a year. 67% of cash flow returned. Insiders: 22 sales, 0 purchases.

weight 22% of this tense · 93rd percentile among 22 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, HCA Healthcare, Inc.'s diluted share count shrank about 6.7% a year, and dividends and buybacks returned about 67% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 22 sales and 0 purchases of their own stock on the open market in the year to 2026-11-10 (their Form 4 filings).

What it rests on

  • the share count over the yearstop 2% of its family
  • cash returned against operating cash flowtop 11% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

6.6/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
5.2/10

Is it financially healthy right now?

Leverage 105%: owes 105¢ per asset dollar.

weight 33% of this tense · 52nd percentile among 22 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, HCA Healthcare, Inc.'s shareholders' equity was below zero, so the profit on it is not read. Leverage: it owed about 105 cents per dollar of assets, and net share issuance: its share count shrank 8.5% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 7% of its family
  • the share count against the year beforetop 2% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
7.3/10

How strong is its position in its industry?

top 27% of 22 in its family; net margin 9%.

weight 45% of this tense · 73rd percentile among 22 sector filers · read for its customers

From the record

HCA Healthcare, Inc.'s standing among 22 graded names in its industry family: revenue of $76 billion in fiscal 2025 ranks in the top 2% by size; a net margin of 9% ranks in the top 20%; revenue growth of 7.9% a year over the last 3 filed years ranks in the bottom 43% (its annual reports).

What it rests on

  • revenue against the family$75.60Btop 2% of its family
  • net margin9.0%top 20% of its family
  • three-year revenue growth7.9%bottom 43% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
7.3/10

What are the people in charge doing?

top 27% of 19 in its family for leadership; chief executive since 2019.

weight 22% of this tense · 73rd percentile among 19 sector filers · read for its shareholders

From the record

HCA Healthcare, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Hazen, Samuel N (CEO, as filed), filing under that title since 2019-02-01, 7.8 years (top 29% of its family); the 18 officers and directors filing in the last fifteen months have been on the record a median of 11.1 years (top 3%); 9 officer or director changes were reported on Form 8-K since 2023-11-13, against the 18 people in charge now (top 50%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge9 in three years among 18 peopletop 50% of its family
  • the median years the people in charge have filed11.1 yearstop 3% of its family
  • the chief executive's years on the record7.8 yearstop 29% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

4.5/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
4.6/10

How much room does it have to grow?

bottom 46% of 22 in its family for room to expand.

weight 22% of this tense · 46th percentile among 22 sector filers · read for itself

From the record

HCA Healthcare, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $1.0 billion against debt of $44 billion leaves -71.2% of its assets as net cash, bottom 12% of its family; cash from operations less capital spending is 10.2% of revenue (top 20%) (its annual report).

What it rests on

  • cash less debt against assets-71.2%bottom 12% of its family
  • cash from operations less capital spending against revenue10.2%top 20% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
4.7/10

What could actually drive growth from here?

bottom 47% of 22 in its family for growth drivers.

weight 45% of this tense · 47th percentile among 22 sector filers · read for its customers

From the record

HCA Healthcare, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 7.9% a year over the last three filed years against 6.7% over all 7, speeding up (bottom 48% of its family); the newest year grew 7.1% (bottom 43%); capital spending grew 4% a year (top 50%) (its annual reports). HCA Healthcare, Inc. reported 3 lines of business in fiscal 2025: American Group at $26 billion, Atlantic Group at $25 billion, National Group at $21 billion. 3 of 3 grew in the latest filed year, and the largest line is 37% of revenue (its annual report).

What it rests on

  • three-year growth against the whole span+1.2 points a yearbottom 48% of its family
  • the newest year's revenue growth7.1%bottom 43% of its family
  • three-year growth of capital spending4.0%top 50% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
4.3/10

Did its newest year beat what its own record pointed to?

bottom 43% of 22 in its family for expectations against reality.

weight 33% of this tense · 43rd percentile among 22 sector filers · read for its shareholders

From the record

HCA Healthcare, Inc.'s newest year against its own record: revenue of $76 billion in fiscal 2025 came in 1.1% below the $76 billion its prior three years' pace pointed to (bottom 39% of its family); net income of $6.8 billion against a prior three-year average of $5.5 billion (bottom 43%); a net margin of 9% against 8.5% before (bottom 48%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-1.1%bottom 39% of its family
  • net income against the prior three years' average+22%bottom 43% of its family
  • net margin against its prior average+0.4 pointsbottom 48% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton HCA · research, not advice