What is HCA Healthcare's acquisitions?

HCA Healthcare (HCA) reported acquisitions of $36M in Q4 2025.

How has HCA Healthcare's acquisitions changed year-over-year?

HCA Healthcare's acquisitions decreased by 14.3% year-over-year, from $42M to $36M.

What is the long-term trend for HCA Healthcare's acquisitions?

Over 4 years (2021 to 2025), HCA Healthcare's acquisitions has grown at a -22.6% compound annual growth rate (CAGR), from $1.11B to $397M.

What does acquisitions mean?

Cash paid for business acquisitions net of cash acquired in the target company — the primary M&A cash flow line.

HCA Healthcare HCA Acquisitions

Acquisitions at other companies

HumanaHUM

$911M—

Tenet HealthcareTHC

$121M+348%

Universal Health ServicesUHS

$4.86M-41.6%

Community Health SystemsCYH

$48M—

Acadia HealthcareACHC

$8.59M-82.9%

Surgery Partners, Inc.SGRY

$4.2M-90.5%

Other financials

Income statement

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Revenue$20.2B+8.7%

Net income$1.7B+2.8%

EPS (diluted)$7.62+11.6%

Balance sheet

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Cash & equivalents$1.0B+7.9%

Total debt$57.8B+12.3%

Total equity-$6.6B-51.2%

Total assets$63.3B+6.2%

Cash flow

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Operating cash flow$2.3B-44.5%

CapEx$1.2B+4.7%

Free cash flow$1.1B-63.6%

Valuation

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Market cap$84.78B+3.5%

Enterprise value$141.59B+6.9%

P/E12.4×-1.3×

P/S1.1×0.0×

Profitability

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Net margin8.8%+0.6pp

FCF margin7.7%-2.3pp

Returns & leverage

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Return on equity-124%—

Debt / equity132.8×—

Current ratio1×0.0×

Where this comes from

Reported directly by HCA Healthcare in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquireInterestInSubsidiariesAndAffiliates.

The official record: HCA Healthcare’s 10-K, filed February 10, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is HCA Healthcare's acquisitions?: HCA Healthcare (HCA) reported acquisitions of $36M in Q4 2025.
How has HCA Healthcare's acquisitions changed year-over-year?: HCA Healthcare's acquisitions decreased by 14.3% year-over-year, from $42M to $36M.
What is the long-term trend for HCA Healthcare's acquisitions?: Over 4 years (2021 to 2025), HCA Healthcare's acquisitions has grown at a -22.6% compound annual growth rate (CAGR), from $1.11B to $397M.
What does acquisitions mean?: Cash paid for business acquisitions net of cash acquired in the target company — the primary M&A cash flow line.