HCA Healthcare (HCA): financials, SEC filings and peers
HCA Healthcare (HCA) is a health care facilities company in the Health Care sector of the S&P 500, headquartered in Nashville, Tennessee.
It was founded in 1968 and joined the S&P 500 on January 27, 2015.
Its fiscal year ends in December, and its shares trade on the NYSE.
In its SEC filings it is classified as “Services-General Medical & Surgical Hospitals, NEC”.
HCA Healthcare at a glance
- Revenue (12 months)
- $76.4B
- Revenue growth
- +6.7%
- Operating margin
- 15.8%
- Net income (12 months)
- $6.8B
- Free cash flow (12 months)
- $7.9B
- Cash
- $940M
- Debt
- $44.4B
- Diluted EPS (12 months)
- $29.04
Twelve months to March 31, 2026, from the 10-Q filed April 29, 2026.
Latest twelve months
Over the twelve months to March 31, 2026, HCA Healthcare reported revenue of $76.4 billion, about the same as a year earlier (+6.7%).
Its operating margin was 15.8%: for every $100 of sales, about $16 was left as operating profit.
Net income was $6.8 billion (8.9% of revenue), 17.6% higher than a year earlier.
Operating cash flow was $13.0 billion and capital spending $5.1 billion, leaving free cash flow of $7.9 billion (10.4% of revenue).
At the end of the period it held $940 million in cash and $44.4 billion in debt, a net debt position of $43.4 billion.
The diluted share count fell 9.1% in a year, typically the result of buybacks.
Five-year trend
- Revenue went from $51.5 billion in fiscal 2020 to $75.6 billion in fiscal 2025, about 8.0% a year.
- Revenue has grown for 5 fiscal years in a row.
- Free cash flow was positive in each of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $58.8B | $60.2B | $65.0B | $70.6B | $75.6B |
| Revenue growth | 14.0% | 2.5% | 7.9% | 8.7% | 7.1% |
| Operating margin | — | — | — | — | — |
| Net income | $7.0B | $5.6B | $5.2B | $5.8B | $6.8B |
| Free cash flow | $5.4B | $4.1B | $4.7B | $5.6B | $7.7B |
| Diluted EPS | $21.16 | $19.15 | $18.97 | $22.00 | $28.33 |
Fiscal years as reported in HCA Healthcare’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
- 8-K filed July 29, 2026 — New debt obligation; Other event
- 10-Q filed July 28, 2026 — quarterly report
- 8-K filed July 24, 2026 — Earnings results; Regulation FD disclosure
- 8-K filed July 14, 2026 — Earnings results; Regulation FD disclosure
- 8-K filed June 18, 2026 — Executive or director change
- 8-K filed April 30, 2026 — Material agreement; New debt obligation
- 10-Q filed April 29, 2026 — quarterly report
- 8-K filed April 28, 2026 — Shareholder vote results
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Questions about HCA Healthcare
Is HCA Healthcare's revenue growing?
Yes. Revenue for the twelve months to March 31, 2026 was $76.4 billion, up 6.7% from a year earlier, according to its SEC filings.
Is HCA Healthcare profitable?
Yes. It earned $6.8 billion in net income over the twelve months to March 31, 2026, a net margin of 8.9%.
Does HCA Healthcare have more cash or more debt?
At March 31, 2026 it had $940 million in cash and $44.4 billion in debt, so more debt than cash.
When did HCA Healthcare last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on July 28, 2026.
Which companies are similar to HCA Healthcare?
In the S&P 500, HCA Healthcare is grouped in Health Care Facilities within the Health Care sector. Universal Health Services (UHS) are in the same group.
Understand the numbers
Source: HCA Healthcare’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved September 27, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.