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HCA Healthcare
(NYSE:HCA)
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Rating:63Neutral
Price Target:
$387.00
▼(-20.70% Downside)
Action:Reiterated
Date:07/16/26
The score is anchored by strong earnings and cash generation but is pulled down by elevated balance-sheet risk (negative equity) and weak technical trend (price below all key moving averages with negative momentum). Valuation is a supportive factor (P/E 12.43), while recent updates and the earnings call show resilience but highlight meaningful payer-mix/exchange headwinds and slightly lower 2026 guidance.
Positive Factors
Cash Generation
HCA’s substantial operating cash flow and near-$8B free cash flow provide durable funding for capex, debt service, dividends and buybacks. Strong cash conversion supports strategic investments and liquidity, cushioning the business through reimbursement or volume cycles.
Negative Factors
Balance Sheet Weakness
Persistent negative equity and sizable debt reduce financial flexibility and increase vulnerability to shocks. Negative equity complicates capital allocation choices and could constrain strategic optionality if cash generation weakens or refinancing costs rise.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
HCA’s substantial operating cash flow and near-$8B free cash flow provide durable funding for capex, debt service, dividends and buybacks. Strong cash conversion supports strategic investments and liquidity, cushioning the business through reimbursement or volume cycles.
Read all positive factors
HCA Healthcare Key Performance Indicators (KPIs)
Any
Adjusted EBITDA by Segment
Highlights profitability across different business units, providing insight into which segments drive earnings and where operational efficiencies or challenges lie.
Highlights profitability across different business units, providing insight into which segments drive earnings and where operational efficiencies or challenges lie.
Data provided by:
The Fly
The FlyHCA Healthcare (HCA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$82.34B
Dividend Yield0.81%
Average Volume (3M)1.63M
Price to Earnings (P/E)12.7
Beta (1Y)0.32
Revenue Growth7.31%
EPS GrowthN/A
CountryUS
Employees230,000
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)N/A
Shares Outstanding221,839,800
10 Day Avg. Volume1,231,958
30 Day Avg. Volume1,627,965
Financial Highlights & Ratios
PEG Ratio0.57
Price to Book (P/B)-17.87
Price to Sales (P/S)1.42
P/FCF Ratio14.00
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$465.13Price Target Upside-4.69% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering17
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
HCA Healthcare Business Overview & Revenue Model
Company Description
HCA Healthcare, Inc., operating through its subsidiaries, delivers a comprehensive array of healthcare services throughout the United States. The organization manages a network of general and acute care hospitals that provide a full spectrum of me...
How the Company Makes Money
HCA Healthcare primarily makes money by delivering healthcare services through its hospitals and outpatient facilities and receiving payment from patients and third-party payers. The core revenue model is fee-for-service reimbursement: HCA bills f...
HCA Healthcare Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
34
Negative
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 76.39B | 75.60B | 70.60B | 64.97B | 60.23B | 58.75B |
| Gross Profit | 26.68B | 31.37B | 28.68B | 25.58B | 23.18B | 22.49B |
| EBITDA | 15.67B | 15.60B | 13.90B | 12.72B | 13.29B | 14.25B |
| Net Income | 6.79B | 6.78B | 5.76B | 5.24B | 5.64B | 6.96B |
Balance Sheet | ||||||
| Total Assets | 61.45B | 60.72B | 59.51B | 56.21B | 52.44B | 50.74B |
| Cash, Cash Equivalents and Short-Term Investments | 940.00M | 1.04B | 2.02B | 935.00M | 908.00M | 1.45B |
| Total Debt | 49.84B | 50.20B | 45.24B | 41.86B | 40.20B | 36.73B |
| Total Liabilities | 64.43B | 63.49B | 58.96B | 55.15B | 52.51B | 49.25B |
| Stockholders Equity | -6.30B | -6.03B | -2.50B | -1.77B | -2.77B | -933.00M |
Cash Flow | ||||||
| Free Cash Flow | 7.93B | 7.69B | 5.64B | 4.69B | 4.13B | 5.38B |
| Operating Cash Flow | 13.00B | 12.64B | 10.51B | 9.43B | 8.52B | 8.96B |
| Investing Cash Flow | -5.24B | -4.99B | -4.93B | -5.32B | -3.39B | -2.64B |
| Financing Cash Flow | -7.88B | -8.55B | -4.58B | -4.09B | -5.66B | -6.66B |
HCA Healthcare Technical Analysis
Negative
488.00
Price Trends
394.05
Negative
442.71
Negative
457.67
Negative
Market Momentum
-3.42
Positive
40.85
Neutral
32.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HCA, the sentiment is Negative. The current price of 488 is above the 20-day moving average (MA) of 392.40, above the 50-day MA of 394.05, and above the 200-day MA of 457.67, indicating a bearish trend. The MACD of -3.42 indicates Positive momentum. The RSI at 40.85 is Neutral, neither overbought nor oversold. The STOCH value of 32.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HCA.
HCA Healthcare Risk Analysis
HCA Healthcare disclosed 62 risk factors in its most recent earnings report. HCA Healthcare reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
HCA Healthcare Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $11.13B | 18.50 | 25.35% | 0.65% | 10.05% | 23.59% | |
72 Outperform | $9.15B | 6.24 | 20.93% | 0.35% | 10.42% | 33.92% | |
70 Outperform | $15.21B | 23.06 | -133.12% | ― | 6.68% | 2.79% | |
68 Neutral | $16.79B | 10.02 | 40.55% | ― | 4.56% | 27.14% | |
66 Neutral | $12.81B | 12.89 | 7.16% | 3.29% | 7.24% | 67.43% | |
63 Neutral | $82.34B | 12.66 | -123.20% | 0.61% | 7.31% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
HCA
HCA Healthcare
370.42
8.33
2.30%
DVA
DaVita
234.10
94.67
67.90%
FMS
Fresenius Medical Care
24.07
-1.50
-5.88%
EHC
Encompass Health
112.50
3.28
3.01%
THC
Tenet Healthcare
194.38
19.73
11.30%
UHS
Universal Health
150.64
-17.39
-10.35%
HCA Healthcare Corporate Events
Business Operations and StrategyFinancial Disclosures
HCA Healthcare Updates Q2 Results and 2026 Outlook
Negative
Jul 15, 2026
On July 14, 2026, HCA Healthcare reported preliminary second-quarter 2026 results showing revenue of about $20.23 billion, up from $18.61 billion a year earlier, and net income of roughly $1.70 billion, or $7.62 per diluted share. Adjusted EBITDA ...
Business Operations and StrategyExecutive/Board Changes
HCA Healthcare Announces Upcoming Chief Clinical Officer Transition
Neutral
Jun 18, 2026
On June 15, 2026, HCA Healthcare, Inc. announced that Executive Vice President and Chief Clinical Officer Dr. Michael Cuffe will step down from his role effective August 31, 2026. He will remain with the company in a transitional capacity until Fe...
Business Operations and StrategyPrivate Placements and Financing
HCA Healthcare Completes $3 Billion Senior Notes Offering
Positive
Apr 30, 2026
On April 30, 2026, HCA Inc., a wholly owned subsidiary of HCA Healthcare, completed a $3 billion public offering of senior unsecured notes, comprising $1 billion of 4.700% notes due 2031, $750 million of 5.000% notes due 2033 and $1.25 billion of ...
Executive/Board ChangesShareholder Meetings
HCA Healthcare Stockholders Reaffirm Board and Governance Structure
Positive
Apr 28, 2026
HCA Healthcare, Inc. held its Annual Meeting of Stockholders on April 23, 2026, with more than 209 million shares represented in person or by proxy. Stockholders elected nine director nominees to one-year terms on the board, reaffirming the existi...
Business Operations and StrategyPrivate Placements and Financing
HCA Healthcare Launches Note Offering to Refinance 2026 Debt
Positive
Apr 27, 2026
On April 27, 2026, HCA Healthcare said its subsidiary HCA Inc. had launched a proposed public offering of senior unsecured notes, with final terms such as maturity, coupon and size to be set at pricing based on market conditions. The transaction i...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
HCA Healthcare Posts Solid Q1 Results, Reaffirms 2026 Outlook
Positive
Apr 24, 2026
HCA Healthcare reported first-quarter 2026 results on April 24, 2026, showing moderate growth in revenue and earnings despite softer volumes driven by a milder respiratory season and weather disruptions. Revenue rose 4.3% year on year to $19.1 bil...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.