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HCA Healthcare (HCA) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

HCA Healthcare
NYSE•Healthcare•Medical Care Facilities
$429.04-1.39(<0.01%)Pre-market
Market Cap
$94.33B
P/E
13.8x
P/S
1.2x

HCA Healthcare, Inc., through its subsidiaries, provides health care services in the United States. The company owns, manages, and operates hospitals, ASCs, freestanding emergency care facilities, urgent care facilities, walk-in clinics, diagnostic and imaging centers, radiation and oncology therapy centers, as well as rehabilitation and physical therapy centers, physician practices, home health agencies, hospices, outpatient physical therapy providers, home and community-based services providers, and various other facilities. Its general and acute care hospitals offer medical and surgical services, including inpatient care, intensive care, cardiac care, diagnostic services, and emergency services; and outpatient services, such as outpatient surgery, laboratory, radiology, respiratory therapy, cardiology, and physical therapy. The company was formerly known as HCA Holdings, Inc. HCA Healthcare, Inc. was founded in 1968 and is headquartered in Nashville, Tennessee.

D

How this company scores

WeakMetricSide Score: 57/100

Grade capped at D — Negative equity — the balance sheet is insolvent. Strongest: Growth (19/25); weakest: Balance Sheet & Red Flags (9/25).

Profitability15/25
Growth19/25
Balance Sheet & Red Flags9/25
Cash & Earnings Quality14/25
Strengths
Consistent free cash flowProfit converts from growthConsistent growthImproving margins
Grade capped at D
  • Negative equity — the balance sheet is insolvent.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 13.8x5y range 7.9x – 17.6x
P/E 13.8x · near its 20-quarter median

Currently near its 20-quarter median.

P/S · 1.2x5y range 0.9x – 1.5x
P/S 1.2x · near its 20-quarter median

Currently near its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Price & Volume
Market Cap $94.33B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$78.01B
7Q
Q. Revenue
$20.23B
9%
TTM EBITDA
$13.54B
6Q
TTM Op. Income
$9.87B
12%
Q. Op. Income
$2.49B
3%
TTM Net Income
$6.84B
6Q
Q. Net Income
$1.70B
3%
EPS
$7.7
2Q
Shares Out.
$220.54M
7Q
$78.01B in TTM revenue grew 7.3% YoY, reaching $20.23B last quarter. TTM EBITDA of $13.54B and TTM operating income of $9.87B show growth is flowing through to the bottom line. TTM net income of $6.84B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin
17.0%
4%
Op. Margin
12.3%
5%
Net Margin
8.4%
2Q
Op. margin of 12.3% is down 0.7% YoY — costs are rising relative to revenue. Net margin at 8.4% Over the past year, operating margin is down 5% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
13.8x
2Q
P/S Ratio
1.2x
2Q
P/B Ratio
N/A
At 13.8x P/E, the stock trades below typical market levels. P/S of 1.2x and P/B of 0.0x provide additional context. P/E sits below typical market levels while revenue is growing. Across the last 8 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$63.25B
4Q
Cash
$1.01B
8%
Long-Term Debt
$43.45B
10%
Book Value
$-6.64B
7Q
D/E Ratio
N/A
Debt/EBITDA
12.6
2Q

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$2.33B
45%
TTM Free Cash Flow
$6.00B
18%
FCF Margin
7.7%
23%
FCF / Net Income
0.9
28%
TTM FCF of $6.00B on $2.33B in operating cash flow. The FCF / Net Income ratio of 0.9x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is down 18% — a weakening trend.

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