# HCA Healthcare, Inc. (HCA) — Stock CV

HCA Healthcare, Inc. is a $96.3B healthcare company. Revenue grew 7.3% over the last year, it keeps 9¢ of every dollar of sales as profit, and its net debt equals ~7.6 years of free cash flow. It trades at 14.3× earnings — around the middle of its own history.

> HCA Healthcare is a Nashville-based healthcare provider organization operating the largest collection of acute-care hospitals in the United States. As of December 2025, the firm owned and operated 190 hospitals and over 2,500 outpatient facillities across 19 states and a small foothold in the United Kingdom.

## Identity

- **Ticker**: HCA
- **Sector**: Healthcare
- **Industry**: Services-General Medical & Surgical Hospitals, Nec
- **Headquarters**: NASHVILLE, TN
- **Employees**: 320 000
- **Website**: https://www.hcahealthcare.com
- **Market cap**: $96.3B
- **Last price**: $445.04
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $78.0B
- **Net income**: $6.84B
- **Free cash flow**: $6.00B
- **Net debt**: $45.5B
- **P/E**: 14.3
- **Revenue growth (YoY)**: 7.3%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 82 |
| Growth | 42 |
| Profitability | 78 |
| Health | 24 |
| Quality | 94 |
| Moat | 68 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +7.3% YoY
- [x] Profitable — $6.84B TTM
- [x] Profit growing — +13.9% YoY
- [x] Generates cash — $6.00B TTM
- [ ] Debt under control — ~7.6y of cash flow to repay
- [x] Established company — $96.3B market cap
- [x] Not printing shares — -30.3% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — health score 24/100
- [x] Pays a dividend — yield 0.70%
- [x] Valuation not extreme — P/E 14.3

## Experience (career milestones)

- **FY2021** — Best year on record: $6.96B net income
- **FY2019** — Revenue crossed $50B: $51.3B for the year
- **FY2018** — Revenue crossed $1B: $46.7B for the year
- **FY2018** — Revenue crossed $10B: $46.7B for the year
- **2017** — The corporation was renamed HCA Healthcare
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2011** — HCA sold 126.2 million shares for $30 each, raising about $3.79 billion, at that time, the largest…
- **Nov 17, 2006** — HCA became a private company for the third time when it completed a merger in which the…
- **1994** — HCA Healthcare merged with Louisville, Kentucky-based Columbia Hospital Corporation
- **1993** — Columbia did another stock purchase, worth $3.4 billion, of Galen Healthcare
- **1989** — The total transaction was valued at approximately $33 billion, making it the largest leveraged buyout in history at…
- **1987** — HCA Healthcare, which had grown to operate 463 hospitals (255 owned and 208 managed), spun off HealthTrust,…
- **1969** — The company included 11 hospitals when it filed its initial public offering on the New York Stock Exchange (NYSE) in…
- **1968** — HCA Healthcare, Inc. (historically known as Hospital Corporation of America) is an American global for-profit…

## Strengths

- High gross margin (85.3%)
- Interest covered 5.5× by operating earnings
- High returns on invested capital (ROIC 21.7%)
- Piotroski F-Score 7/9 — fundamentally strong checklist

## Watch-outs

- Net debt equals ~7.6 years of free cash flow

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $58.8B | $6.96B | $5.38B |
| FY2022 | $60.2B | $5.64B | $4.13B |
| FY2023 | $65.0B | $5.24B | $4.69B |
| FY2024 | $70.6B | $5.76B | $5.64B |
| FY2025 | $75.6B | $6.78B | $7.69B |

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Source: https://stockcv.com/HCA — derived from company filings; may be delayed or incomplete. Information, not investment advice.