Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
HCA Healthcare delivered strong FY2025 results with revenue rising 7.1% to $75.6B and net income surging 17.8% to $6.8B, driven by robust operating cash flow of $12.6B, even as aggressive share buybacks of $10.1B deepened the company's negative stockholders' equity position.
Revenue
$75.6B
+7.08% YoY
EPS (Diluted)
$28.33
+28.77% YoY
Source: SEC XBRL
HCA Healthcare (HCA) reported FY2025 revenue of $75.6B, up 7.1% year over year. Operating cash flow was $12.64B, up 20.2% year over year.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 7.62 | 7.54 | Beat +1.0% |
| Mar 2026 | 7.15 | 7.21 | Miss -0.8% |
| Dec 2025This filing | 8.14 | 7.53 | Beat +8.0% |
| Sep 2025 | 6.96 | 5.77 | Beat +20.6% |
Reported EPS of $8.14 versus the $7.53 analyst consensus — a +8.0% beat for Dec 2025.
Compiled by AI from this SEC filing
HCA grew total revenue by 7.1% year-over-year from $70.6B to $75.6B in FY2025, reflecting continued strong patient volumes and favorable reimbursement trends across its hospital and outpatient network.
Source: 10-K Income Statement (XBRL Financial Data)
Net income increased 17.8% to $6.8B, while diluted EPS jumped 28.8% from $22.00 to $28.33, with the outsized EPS growth relative to net income growth reflecting the significant reduction in share count from $10.1B in buybacks during FY2025.
Source: 10-K Income Statement & Cash Flow Statement (XBRL Financial Data)
Operating cash flow rose 20.2% to $12.6B in FY2025 from $10.5B in the prior year, demonstrating HCA's ability to convert earnings into cash efficiently, with D&A of $3.5B supporting free cash flow generation.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
HCA returned substantial capital to shareholders through $10.1B in share repurchases (up 66.6% YoY) and $679M in dividends, totaling approximately $10.7B in FY2025, funded primarily by strong operating cash flows and incremental debt.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
Long-term debt increased modestly to $44.3B while stockholders' equity deteriorated sharply to -$6.0B from -$2.5B, driven by the aggressive buyback program exceeding retained earnings, a structural feature common to highly leveraged capital return strategies.
Source: 10-K Balance Sheet (XBRL Financial Data)
Compiled by AI from this SEC filing · 3 high, 2 medium, 0 low
HCA carries $44.3B in long-term debt and a stockholders' equity deficit of -$6.0B as of FY2025, a deterioration of 141.2% from the prior year. This leverage concentration increases vulnerability to interest rate changes and limits financial flexibility in a downturn.
Source: 10-K Balance Sheet (XBRL Financial Data)
HCA's current ratio stands at approximately 0.97, meaning current liabilities of $16.4B exceed current assets of $15.8B. Combined with a 46.2% decline in cash and equivalents to just $1.0B, near-term liquidity could be strained if operating conditions deteriorate.
Source: 10-K Balance Sheet (XBRL Financial Data)
HCA spent $10.1B on share repurchases in FY2025, a 66.6% increase over the prior year, which significantly exceeds its net income of $6.8B. Continued buybacks at this pace would require additional debt issuance or a reduction in capital expenditures, potentially constraining future growth investments.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
Investing cash outflows of approximately $5.0B in FY2025 reflect the capital-intensive nature of hospital operations and ongoing facility investments. Any reduction in reinvestment could impair HCA's competitive positioning and regulatory compliance over time.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
HCA's revenue growth is closely tied to Medicare, Medicaid, and commercial insurance reimbursement rates. Any adverse changes in government reimbursement policy or a shift toward lower-paying payers could materially impact revenue and margins without a corresponding reduction in costs.
Source: 10-K Income Statement (XBRL Financial Data)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 75.60 $B | 70.60 $B | +7.08% |
Net Income $B | 6.78 $B | 5.76 $B | +17.78% |
EPS (Basic) $ | 28.70 $ | 22.27 $ | +28.87% |
EPS (Diluted) $ | 28.33 $ | 22.00 $ | +28.77% |
Answers draw on this SEC filing and the data on this page
HCA Healthcare's Q2 FY2026 revenues rose 8.7% to $20.230B and net income attributable to HCA grew 2.8% to $1.699B ($7.62 diluted EPS, up 11.6% due to share repurchases), boosted by $1.372B of Florida Medicaid directed payment revenue but partially offset by rising uncompensated care and a $1.875B decline in operating cash flow.
HCA Healthcare delivered solid Q1 FY2026 results with revenue rising 4.3% YoY to $19.1B and operating cash flow surging 22.0% to $2.0B, though the balance sheet reflects deeply negative stockholders' equity driven by aggressive share buybacks and elevated long-term debt.
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