Comprehensive Stock Comparison
Compare HCA Healthcare, Inc. (HCA) vs Ardent Health Partners, LLC (ARDT) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | ARDT | 10.3% revenue growth vs HCA's 7.1% |
| Value | ARDT | Lower P/E (7.4x vs 17.5x), PEG 0.10 vs 0.83 |
| Quality / Margins | HCA | 9.0% net margin vs ARDT's 3.2% |
| Stability / Safety | HCA | Beta 0.29 vs ARDT's 0.88 |
| Dividends | HCA | 0.6% yield; 5-year raise streak; ARDT pays no meaningful dividend |
| Momentum (1Y) | HCA | +73.9% vs ARDT's -35.9% |
| Efficiency (ROA) | HCA | 11.2% ROA vs ARDT's 4.0%, ROIC 19.9% vs 9.7% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
HCA Healthcare is one of the largest for-profit hospital operators in the United States, providing comprehensive medical and surgical services through its network of acute care hospitals and outpatient facilities. It generates revenue primarily from patient services — including inpatient hospital stays, outpatient procedures, and emergency care — with the vast majority coming from government programs like Medicare and Medicaid alongside private insurance reimbursements. The company's scale advantage — operating over 180 hospitals concentrated in high-growth markets — creates significant purchasing power with suppliers and negotiating leverage with payers.
Ardent Health Partners operates a network of acute care hospitals and clinics providing comprehensive healthcare services across the United States. It generates revenue primarily from patient care services — including inpatient and outpatient treatments, surgeries, and rehabilitation — with the majority coming from government and private insurance reimbursements. The company benefits from its regional concentration in key markets, which creates operational efficiencies and strong local physician relationships that drive patient referrals.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
HCA leads in 4 of 6 categories (Financial Metrics, Total Returns). ARDT leads in 2 (Valuation Metrics, Profitability & Efficiency).
Financial Metrics (TTM)
HCA is the larger business by revenue, generating $75.6B annually — 12.0x ARDT's $6.3B. HCA is the more profitable business, keeping 9.0% of every revenue dollar as net income compared to ARDT's 3.2%.
| Metric | HCAHCA Healthcare, I… | ARDTArdent Health Par… |
|---|---|---|
| RevenueTrailing 12 months | $75.6B | $6.3B |
| EBITDAEarnings before interest/tax | $15.5B | $948M |
| Net IncomeAfter-tax profit | $6.8B | $205M |
| Free Cash FlowCash after capex | $7.7B | $155M |
| Gross MarginGross profit ÷ Revenue | +41.5% | +70.6% |
| Operating MarginEBIT ÷ Revenue | +15.8% | +12.6% |
| Net MarginNet income ÷ Revenue | +9.0% | +3.2% |
| FCF MarginFCF ÷ Revenue | +10.2% | +2.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +6.7% | +8.8% |
| EPS Growth (YoY)Latest quarter vs prior year | +44.6% | -189.5% |
Valuation Metrics
At 5.9x trailing earnings, ARDT trades at a 68% valuation discount to HCA's 18.7x P/E. Adjusting for growth (PEG ratio), ARDT offers better value at 0.08x vs HCA's 0.89x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | HCAHCA Healthcare, I… | ARDTArdent Health Par… |
|---|---|---|
| Market CapShares × price | $118.5B | $1.3B |
| Enterprise ValueMkt cap + debt − cash | $167.6B | $3.1B |
| Trailing P/EPrice ÷ TTM EPS | 18.66x | 5.94x |
| Forward P/EPrice ÷ next-FY EPS est. | 17.50x | 7.38x |
| PEG RatioP/E ÷ EPS growth rate | 0.89x | 0.08x |
| EV / EBITDAEnterprise value multiple | 10.82x | 5.55x |
| Price / SalesMarket cap ÷ Revenue | 1.57x | 0.22x |
| Price / BookPrice ÷ Book value/share | — | 0.82x |
| Price / FCFMarket cap ÷ FCF | 15.40x | 10.51x |
Profitability & Efficiency
On the Piotroski fundamental quality scale (0–9), ARDT scores 8/9 vs HCA's 7/9, reflecting strong financial health.
| Metric | HCAHCA Healthcare, I… | ARDTArdent Health Par… |
|---|---|---|
| ROE (TTM)Return on equity | — | +12.6% |
| ROA (TTM)Return on assets | +11.2% | +4.0% |
| ROICReturn on invested capital | +19.9% | +9.7% |
| ROCEReturn on capital employed | +27.0% | +10.0% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 8 |
| Debt / EquityFinancial leverage | — | 1.50x |
| Net DebtTotal debt minus cash | $49.2B | $1.7B |
| Cash & Equiv.Liquid assets | $1.0B | $557M |
| Total DebtShort + long-term debt | $50.2B | $2.3B |
| Interest CoverageEBIT ÷ Interest expense | 5.37x | 7.08x |
Total Returns (with DRIP)
A $10,000 investment in HCA five years ago would be worth $30,878 today (with dividends reinvested), compared to $5,847 for ARDT. Over the past 12 months, HCA leads with a +73.9% total return vs ARDT's -35.9%. The 3-year compound annual growth rate (CAGR) favors HCA at 30.2% vs ARDT's -16.4% — a key indicator of consistent wealth creation.
| Metric | HCAHCA Healthcare, I… | ARDTArdent Health Par… |
|---|---|---|
| YTD ReturnYear-to-date | +12.6% | +8.7% |
| 1-Year ReturnPast 12 months | +73.9% | -35.9% |
| 3-Year ReturnCumulative with dividends | +120.8% | -41.5% |
| 5-Year ReturnCumulative with dividends | +208.8% | -41.5% |
| 10-Year ReturnCumulative with dividends | +688.3% | -41.5% |
| CAGR (3Y)Annualised 3-year return | +30.2% | -16.4% |
Risk & Volatility
HCA is the less volatile stock with a 0.29 beta — it tends to amplify market swings less than ARDT's 0.88 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. HCA currently trades 95.8% from its 52-week high vs ARDT's 60.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | HCAHCA Healthcare, I… | ARDTArdent Health Par… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.29x | 0.88x |
| 52-Week HighHighest price in past year | $552.90 | $15.55 |
| 52-Week LowLowest price in past year | $295.00 | $8.07 |
| % of 52W HighCurrent price vs 52-week peak | +95.8% | +60.4% |
| RSI (14)Momentum oscillator 0–100 | 56.0 | 55.7 |
| Avg Volume (50D)Average daily shares traded | 879K | 341K |
Analyst Outlook
Wall Street rates HCA as "Buy" and ARDT as "Buy". Consensus price targets imply 55.2% upside for ARDT (target: $15) vs -1.1% for HCA (target: $524). HCA is the only dividend payer here at 0.56% yield — a key consideration for income-focused portfolios.
| Metric | HCAHCA Healthcare, I… | ARDTArdent Health Par… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $523.92 | $14.57 |
| # AnalystsCovering analysts | 46 | 12 |
| Dividend YieldAnnual dividend ÷ price | +0.6% | — |
| Dividend StreakConsecutive years of raises | 5 | 1 |
| Dividend / ShareAnnual DPS | $2.94 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +8.5% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Aug 24 | Feb 26 | Change |
|---|---|---|---|
| HCA Healthcare, Inc. (HCA) | 100 | 136.83 | +36.8% |
| Ardent Health Partn… (ARDT) | 111.89 | 53.49 | -52.2% |
HCA Healthcare, Inc. (HCA) returned +209% over 5 years vs Ardent Health Partn… (ARDT)'s -42%. A $10,000 investment in HCA 5 years ago would be worth $30,878 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| HCA Healthcare, Inc. (HCA) | $41.5B | $75.6B | +82.2% |
| Ardent Health Partn… (ARDT) | $2.1B | $6.0B | +183.4% |
HCA Healthcare, Inc.'s revenue grew from $41.5B (2016) to $75.6B (2025) — a 6.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| HCA Healthcare, Inc. (HCA) | 7.0% | 9.0% | +28.8% |
| Ardent Health Partn… (ARDT) | 0.7% | 3.5% | +408.3% |
HCA Healthcare, Inc.'s net margin went from 7% (2016) to 9% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| HCA Healthcare, Inc. (HCA) | 14.8 | 16.5 | +11.5% |
HCA Healthcare, Inc. has traded in a 12x–17x P/E range over 9 years; current trailing P/E is ~19x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| HCA Healthcare, Inc. (HCA) | 7.3 | 28.38 | +288.8% |
| Ardent Health Partn… (ARDT) | 0.1 | 1.58 | +1480.0% |
HCA Healthcare, Inc.'s EPS grew from $7.30 (2016) to $28.38 (2025) — a 16% CAGR.
Chart 6Free Cash Flow — 5 Years
HCA Healthcare, Inc. generated $8B FCF in 2025 (+43% vs 2021). Ardent Health Partners, LLC generated $128M FCF in 2024 (+167% vs 2022).
HCA vs ARDT: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is HCA or ARDT a better buy right now?
Ardent Health Partners, LLC (ARDT) offers the better valuation at 5.9x trailing P/E (7.4x forward), making it the more compelling value choice. Analysts rate HCA Healthcare, Inc. (HCA) a "Buy" — based on 46 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — HCA or ARDT?
On trailing P/E, Ardent Health Partners, LLC (ARDT) is the cheapest at 5.9x versus HCA Healthcare, Inc. at 18.7x. On forward P/E, Ardent Health Partners, LLC is actually cheaper at 7.4x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Ardent Health Partners, LLC wins at 0.10x versus HCA Healthcare, Inc.'s 0.83x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — HCA or ARDT?
Over the past 5 years, HCA Healthcare, Inc. (HCA) delivered a total return of +208.8%, compared to -41.5% for Ardent Health Partners, LLC (ARDT). A $10,000 investment in HCA five years ago would be worth approximately $31K today (assuming dividends reinvested). Over 10 years, the gap is even starker: HCA returned +688.3% versus ARDT's -41.5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — HCA or ARDT?
By beta (market sensitivity over 5 years), HCA Healthcare, Inc. (HCA) is the lower-risk stock at 0.29β versus Ardent Health Partners, LLC's 0.88β — meaning ARDT is approximately 201% more volatile than HCA relative to the S&P 500.
05Which has better profit margins — HCA or ARDT?
HCA Healthcare, Inc. (HCA) is the more profitable company, earning 9.0% net margin versus 3.5% for Ardent Health Partners, LLC — meaning it keeps 9.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: HCA leads at 15.8% versus 6.8% for ARDT. At the gross margin level — before operating expenses — ARDT leads at 82.7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is HCA or ARDT more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Ardent Health Partners, LLC (ARDT) is the more undervalued stock at a PEG of 0.10x versus HCA Healthcare, Inc.'s 0.83x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Ardent Health Partners, LLC (ARDT) trades at 7.4x forward P/E versus 17.5x for HCA Healthcare, Inc. — 10.1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for ARDT: 55.2% to $14.57.
07Which pays a better dividend — HCA or ARDT?
In this comparison, HCA (0.6% yield) pays a dividend. ARDT does not pay a meaningful dividend and should not be held primarily for income.
08Is HCA or ARDT better for a retirement portfolio?
For long-horizon retirement investors, HCA Healthcare, Inc. (HCA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.29), 0.6% yield, +688.3% 10Y return). Both have compounded well over 10 years (HCA: +688.3%, ARDT: -41.5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between HCA and ARDT?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: HCA is a mid-cap quality compounder stock; ARDT is a small-cap deep-value stock. HCA pays a dividend while ARDT does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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