Income StatementBalance SheetCash FlowSegments
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HCA Healthcare Income Statement

Revenue, expenses, and profitability over time

HCA Healthcare generated $76.4B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was $6.8B with a 8.89% net margin. Diluted EPS is $29.03, which grew 0.3% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$76.4BNet Income (TTM)$6.8BEps Diluted (TTM)$29.03
Latest FilingQ1 2026
Report Date2026-04-29
Market Cap$93.8B
P/E Ratio13.81
ROE-138.34%

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Unrecognized Tax Benefits Prior Period Decreases$51.5M$750.0K$750.0K$750.0K$750.0K—
Income Tax Penalties and Interest$15.3M$6.8M$6.8M$6.8M$6.8M—
Cash Paid for Income Taxes—$10.0M———-$5.0M
Income Tax at U.S. Statutory Rate—23.8%24.1%23.9%206499999928.2%18.8%
Stock-Based Compensation Tax Benefit—$24.0M———$103.0M
State and Local Income Taxes, Net$0.0$57.0M$57.0M$57.0M$57.0M—
Tax Reconciliation: Other Adjustments0.2%0.0%0.0%0.0%0.0%—
Tax Reconciliation, Foreign Rate Differential0.0%0.0%0.0%0.0%0.0%—
Income tax expense$447.0M$502.0M$524.0M$515.0M$509.0M$430.0M
Unrecognized Tax Benefits Reevaluation (Statute Lapse)$3.8M$6.8M$6.8M$6.8M$6.8M—
Deferred Income Tax Expense—$492.0M———$435.0M
Current Federal Tax Expense$300.5M$387.8M$387.8M$387.8M$387.8M—
Current Foreign Tax Expense$5.0M$3.3M$3.3M$3.3M$3.3M—
Current State and Local Tax Expense$53.0M$62.0M$62.0M$62.0M$62.0M—
Deferred Federal Tax Expense$98.5M$50.3M$50.3M$50.3M$50.3M—
Deferred Foreign Tax Expense$1.8M$1.5M$1.5M$1.5M$1.5M—
Deferred State and Local Tax Expense$7.8M$7.8M$7.8M$7.8M$7.8M—
Excess Tax Benefits from Share-Based Compensation-$22.8M-$13.8M-$13.8M-$13.8M-$13.8M—
Foreign Rate Differential$2.5M-$1.0M-$1.0M-$1.0M-$1.0M—
Tax Reconciliation Minority Interest-0.7%0.5%0.5%0.5%0.5%—

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other non-cash income (expense)—-$53.0M———-$67.0M
Income from equity method investments$10.0M$18.0M$19.0M$16.0M$25.0M$9.0M
Interest expense$528.0M$547.0M$568.0M$561.0M$572.0M$584.0M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Compensation and benefits$7.9B$8.0B$8.1B$8.4B$8.4B$8.3B
Total Lease Cost$311.3M$313.3M$313.3M$313.3M$313.3M—
Depreciation and amortization$856.0M$860.0M$863.0M$889.0M$911.0M$930.0M
Other Costs and Expenses—$3.8B———$4.2B
General and administrative$132.0M$126.0M$130.0M$139.0M$153.0M$133.0M
Goodwill impairment$0.0$0.0$0.0$0.0$0.0—
Stock-based compensation expense—$98.0M———$86.0M
Total operating expenses$16.2B$16.0B$16.2B$16.7B$16.8B$16.8B

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$5.72$6.52$6.91$7.05$8.22$7.25
Diluted earnings per share$5.66$6.45$6.83$6.96$8.09$7.15
Dividends Per Share Declared—$0.72$0.72$0.72$0.72$0.78
Weighted average number diluted shares outstanding adjustment—2.5M———3.1M
Weighted-average shares, basic—246.9M239.2M232.9M—223.6M
Weighted-average shares, diluted—249.4M241.9M236.2M—226.7M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
OCI Unrealized Investment Gains (Losses), Before Tax—$6.0M———-$1.0M
OCI Foreign Currency Gain (Loss) Before Reclassification and Tax-$64.0M$30.0M$55.0M-$14.0M—-$24.0M
Adjustments To Estimated Medicare And Medicaid Reimbursement Amounts And Disproportionate Share Funds Resulting In Net Increases To Revenues Related To Cost Reports Filed During Respective Year$10.5M$7.8M$7.8M$7.8M$7.8M—
Adjustments To Estimated Reimbursement Amounts Resulting In Net Increases To Revenues Related To Primarily Cost Reports Filed During Previous Years$19.5M$8.0M$8.0M$8.0M$8.0M—
Amortization Of Financing Costs And Discounts$9.0M$11.0M$14.0M$7.0M$12.0M$11.0M
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation—-$873.0M———-$100.0M
Charity Care$3.9B$3.6B$4.1B$4.1B$4.6B$5.5B
Comprehensive Income (Loss), Net of Tax, Attributable to Parent—$1.6B———$1.6B
Less: comprehensive income attributable to noncontrolling interest—$215.0M———$237.0M
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest—$1.9B———$1.8B
Cost To Charges Ratio—9.6%9.7%10.0%—9.2%
Dividends, Common Stock, Cash—$178.0M$173.0M$169.0M$164.0M$176.0M
Effect of exchange rate changes on cash, cash equivalents and restricted cash—$3.0M———-$2.0M
Effective Income Tax Rate Reconciliation Excluding Net Income Attributable To Noncontrolling Interests—23.8%———21.0%
Effective Income Tax Rate Reconciliation Internal Restructuring Of Affiliates Percent0.9%0.0%0.0%0.0%0.0%—
Effective Income Tax Rate Reconciliation Internal Restructuring Of Affiliates Amount$66.3M$0.0$0.0$0.0$0.0—
Effective Income Tax Rate Reconciliation Other Reconciling Items Percent0.1%0.1%0.1%0.1%0.1%—
Excess tax benefits associated with employee equity plans (in percent)-0.3%-0.1%-0.1%-0.1%-0.1%—
Changes in unrecognized tax benefits-0.6%-0.1%-0.1%-0.1%-0.1%—
Estimated Cost Of Charity Care$377.0M$350.0M$395.0M$408.0M$431.0M$507.0M
Estimated Cost Of Uncompensated Care$1.1B$1.1B$1.1B$1.2B$1.2B$1.3B
Estimated Implicit Price Concessions$1.9B$1.9B$1.9B$1.9B$1.9B—
Facilities Insured By Wholly Owned Insurance Subsidiary For Losses Maximum Amount$20.0M$27.5M$27.5M$27.5M$27.5M—
Acquired intangibles$68.5M$68.5M$68.5M$68.5M$68.5M—
Foreign Currency Translation Amortization And Other-$5.5M-$4.5M-$4.5M-$4.5M-$4.5M—
Gain/(loss) on dispositions, net—$1.0M———-$1.0M
Goodwill Additions$42.5M$54.5M$54.5M$54.5M$54.5M—
Goodwill And Other Intangible Assets Acquired During Period$42.5M$54.5M$54.5M$54.5M$54.5M—
Income Tax Examination Interest Expense Net Of Tax$29.5M—————
Income tax expense related to remeasurement of deferred tax assets and liabilities$69.0M—————
Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Amount$47.0M$52.5M$52.5M$52.5M$52.5M—
Changes in unrecognized tax benefits-$44.3M-$4.5M-$4.5M-$4.5M-$4.5M—
Accounts payable and other current liabilities—-$1.0B———-$990.0M
Increase (Decrease) in Accounts Receivable—$327.0M———$463.0M
Increase Decrease In Inventories And Other Operating Assets-$150.0M$360.0M$67.0M-$302.0M$29.0M-$80.0M
Interest Paid, Excluding Capitalized Interest, Operating Activity—$539.0M———$569.0M
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders—$220.0M$174.0M$237.0M$196.0M$191.0M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation-$2.2B-$1.5B-$3.1B-$3.0B-$999.0M-$830.0M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$1.3B-$1.0B-$1.3B-$1.4B-$1.3B-$1.3B
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$2.6B$1.7B$4.2B$4.4B$2.4B$2.0B
Number of reportable segments—————3.00
Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Arising During Period Tax Expense$3.8M$1.8M$1.8M$1.8M$1.8M—
Other Comprehensive Income Foreign Currency Translation Adjustment Tax Expense—$4.0M$10.0M-$4.0M$0.0$3.0M
Foreign currency translation gains (losses)—————-$21.0M
Other comprehensive income (loss)—$30.0M———-$22.0M
Tax expense (benefit)—$6.0M———-$3.0M
Other Comprehensive Income Reclassified Interest Benefit On Derivatives Arising During Period Tax Expense—$500.0K$500.0K$500.0K$500.0K—
Net unrealized gains (losses) on securities still held—————-$1.0M
Patient Care Costs$15.4B$15.5B$15.6B$16.2B$16.3B$16.2B
Payments For Proceeds From Investments—-$28.0M———-$103.0M
Payment for (Proceeds from) Other Investing Activity—$3.0M———$4.0M
Payments for Repurchase of Common Stock—$2.5B———$1.6B
Payments of Debt Issuance Costs$0.0$57.0M$0.0$0.0$22.0M$0.0
Payments of Dividends—$180.0M———$183.0M
Payments To Acquire Interest In Subsidiaries And Affiliates—$227.0M———$265.0M
Payments to Acquire Property, Plant, and Equipment—$991.0M———$1.1B
Payments to Noncontrolling Interests—$220.0M———$191.0M
Proceeds from principal business dispositions$16.0M$161.0M$6.0M$10.0M$92.0M$3.0M
Debt issued (Note 13)$0.0$5.2B$0.0$0.0$3.2B$0.0
Financing — other—-$90.0M———-$262.0M
Proceeds From Repayments Of Lines Of Credit$0.0$220.0M$1.5B$138.0M$296.0M$1.4B
Professional And General Liability Claims Payments Net$150.0M$175.5M$175.5M$175.5M$175.5M—
Profit Loss And Other Comprehensive Income$1.7B$1.9B$1.9B$1.9B$2.2B$1.8B
Provisions For Losses Related To Professional Liability Risks$156.8M$162.8M$162.8M$162.8M$162.8M—
Reinsurance For Professional Liability Risks Retention Level Of Amount$8.8M$8.8M$8.8M$8.8M$8.8M—
Reinsurance For Professional Liability Risks Retention Minimum Level Of Amount$6.3M$6.3M$6.3M$6.3M$6.3M—
Repayments of Long-Term Debt$64.0M$3.9B$1.8B$174.0M$1.6B$58.0M
Revenue Ratio—100.0%100.0%100.0%—100.0%
Self Insured Retention Amount$3.8M$3.8M$3.8M$3.8M$3.8M—
Expected volatility8.3%8.3%8.3%8.3%8.3%—
Risk-free rate1.0%1.1%1.1%1.1%1.1%—
Weighted-average dividend yield0.2%0.2%0.2%0.2%0.2%—
Options canceled (in dollars per share)$61.70$77.14$77.14$77.14$77.14—
Granted (in shares)$76.36$82.45$82.45$82.45$82.45—
Exercised (in shares)$27.75$31.27$31.27$31.27$31.27—
Value of shares repurchased—$2.5B$2.5B$2.5B$2.5B$1.6B
Stock Repurchased During Period Shares—————3.2M
Stockholders Equity Period Increase Decrease Other$21.0M$21.0M$12.0M-$11.0M-$8.0M$22.0M
Supplies Expense$2.8B$2.8B$2.8B$2.8B$3.0B$2.9B
Tax Cuts And Jobs Act Of2017Income Tax Examination Change In Tax Rate$45.3M—————
Tax Cuts And Jobs Act Of2017Income Tax Examination Interest Expense Net Of Tax$11.8M—————
Average price paid (in dollars per share)$5.25$322.84$15.93$13.63$22.14$497.63
Uncompensated Care$11.7B$11.0B$11.6B$12.0B$13.3B$13.6B
Unrecognized tax benefits, settlements$4.3M$250.0K$250.0K$250.0K$250.0K—
Unrecognized Tax Benefits Increase Decrease Resulting From Current Period Tax Positions$10.0M$5.3M$5.3M$5.3M$5.3M—
Additions for tax positions of prior years$15.8M$6.3M$6.3M$6.3M$6.3M—
Other Comprehensive Income (Loss), Before Tax—$36.0M$58.0M-$11.0M$17.0M-$25.0M
Amortization of Actuarial Gain, Net of Tax$12.5M$6.0M$6.0M$6.0M$6.0M—

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$2.1B$2.3B$2.4B$2.4B$2.7B$2.3B

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income attributable to noncontrolling interests$248.0M$215.0M$238.0M$260.0M$285.0M$237.0M
Net income$1.4B$1.6B$1.7B$1.6B$1.9B$1.6B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$18.3B$18.3B$18.6B$19.2B$19.5B$19.1B