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HCAHCA Healthcare, Inc.
$436.48$94.5B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
HCA logo

HCA Healthcare, Inc.

HCA
NYSE · Healthcare Facilities
$436.48
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$94.5B
P/E15.4x
52W High$556.52
Volume1.28M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Volume Growth and Buybacks Offset Leverage Risks

HCA Healthcare is executing a volume-driven growth strategy, with revenue accelerating to $20.2B in 2026Q2 (up 8.7% YoY) and EPS growing 11.6% to $7.62, supported by robust cash generation (cumulative OCF of $27.6B over ten quarters). However, the balance shee...

GrowthAccelerating
ProfitabilityStrong
ValuationExpensive
TechnicalsWeak
Explore valuation models
MARKET ACTION

HCA price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

11/12 Beats

EPS beat 11 of last 12 quarters

02

Valuation risk

-33% Peers

P/E is 33% below peer median

03

Market leadership

RS 53 · Avg

Average momentum (RS Rating: 53)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Oct 24
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth accelerated to 8.7% YoY in 2026Q2, reaching $20.2B, with EPS up 11.6% to $7.62, though gross margin fell to 15.2% due to cost reclassification, while operating margin held near 15.2%.

Analyst Consensus+4.3% target
Buy(46 analysts)
29 Buy15 Hold2 Sell

The Bull Case

Upside Catalysts

Margin expansion execution

HCA Healthcare has demonstrated strong margin expansion, contributing to significant stock price appreciation.

AI-driven efficiency gains

The company is leveraging AI to drive productivity and operational efficiency, further boosting margins.

Ambulatory care growth

Growth in ambulatory care services is a key driver of value creation for HCA.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
HCA-6.71%
S&P 500 (^GSPC)+12.39%
1-Year Return
HCA+7.35%
S&P 500 (^GSPC)+15.77%
3-Year Return
HCA+74.82%
S&P 500 (^GSPC)+75.42%
5-Year Return
HCA+75.89%
S&P 500 (^GSPC)+74.46%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
15.4x
Forward P/EExpansion
14.8x
EV/EBITDA60th %ile
9.3x
FCF YieldCash Flow
8.1%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
15.4x
13.6x
80th· High
EV/EBITDA
9.3x
9.1x
60th· Fair
Price/FCF
12.3x
15.7x
0th· Low
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$379.53-13.0%
Base (Fair)$841.47+96.7%
Bull$1485.23+240.3%
$379.53 Bear$841.47 Base$1485.23 Bull
Current Market Price: $436.48
Trades at a 48.1% discount to Base DCF ($841.47)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$75.6B+7.1% YoY
Net income
$6.78B+17.8% YoY
Free cash flow
$7.69B+36.4% YoY
Operating margin
15.8%+0.9 pts YoY
ROIC (TTM)19.9%
Avg ROIC 5Y-
ROE (TTM)-
Piotroski Score7 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate11/12 (92%)
Revenue Beat Rate10/12 (83%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 24, 2026
$7.59+0.4%
vs $7.56
$20.2B+2.4%
vs $19.8B
Q2 2026
Apr 24, 2026
$7.15+0.4%
vs $7.12
$19.1B+0.1%
vs $19.1B
Q1 2026
Jan 27, 2026
$8.01+7.4%
vs $7.46
$19.5B-0.9%
vs $19.7B
Q4 2025
Oct 24, 2025
$6.96+20.2%
vs $5.79
$19.2B+3.0%
vs $18.6B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
MarketBeat·6d ago
HCA Healthcare Sees Solid Demand as Exchange Headwinds Pressure 2026 Outlook

HCA Healthcare NYSE: HCA CFO Mike Marks said the hospital operator is navigating a changing policy environment in 2026 while continuing to see solid underlying demand for services outside of the health insurance exchanges.

Defense World·Sep 17, 2026
Bank of America Corp DE Makes New Investment in HCA Healthcare, Inc. $HCA

Bank of America Corp DE acquired a new position in shares of HCA Healthcare, Inc. (NYSE: HCA) in the undefined quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 611,601 shares of the company's stock, valued at approximately $238,457,000. Bank of America Corp DE owned 0.28%

Seeking Alpha·Sep 16, 2026
HCA Healthcare, Inc. (HCA) Presents at 2026 Jefferies Healthcare Services and Technology Conference Transcript

HCA Healthcare, Inc. (HCA) Presents at 2026 Jefferies Healthcare Services and Technology Conference Transcript

Business Wire·Sep 14, 2026
MEDITECH Expanse EHR Live Across First Full U.S. Divisions of HCA Healthcare

CANTON, Mass.--(BUSINESS WIRE)-- #Expanse--MEDITECH has completed implementation of its Expanse EHR platform across 34 hospitals in HCA Healthcare's Capital and North Florida divisions.

Filtered for HCA Healthcare, Inc.More Headlines
04

Compare before deciding

Benchmark HCA against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for HCA Healthcare, Inc. (HCA)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
HCA logoHCAHCA Healthcare, Inc.Current
$436.48$94.5B15.387.08%8.97%—0.67%
THC logoTHCTenet Healthcare Corporation
$256.44$22.09B16.563.12%10.27%25.45%—
CYH logoCYHCommunity Health Systems, Inc.
$3.01$424.44M0.80-1.18%-1.34%——
UHS logoUHSUniversal Health Services, Inc.
$181.39$10.98B7.859.71%8.42%20.37%—
ENSG logoENSGThe Ensign Group, Inc.
$175.46$10.23B30.0418.72%6.9%16.51%—
SEM logoSEMSelect Medical Holdings Corporation
$16.51$2.05B13.995.12%2.42%6.55%—

Compare HCA vs Peers

HCA Healthcare, Inc. (HCA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs THC

Most directly comparable listed peer for HCA.

Scale Benchmark

vs UNH

Larger-name benchmark to compare HCA against a more recognizable public peer.

Peer Set

Compare Top 5

vs THC, CYH, UHS, ENSG

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

HCA SEC Filings & Documents

HCA Healthcare, Inc. (HCA) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jul 29, 2026·SEC

Material company update

Jul 24, 2026·SEC

Material company update

Jul 14, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 10, 2026·SEC

FY 2025

Feb 14, 2025·SEC

FY 2024

Feb 16, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Jul 28, 2026·SEC

FY 2026

Apr 29, 2026·SEC

FY 2025

Oct 30, 2025·SEC

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HCA Frequently Asked Questions

HCA Healthcare, Inc. (HCA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is HCA Healthcare, Inc.'s revenue?

HCA Healthcare, Inc. (HCA) reported $78.01B in revenue for fiscal year 2025. This represents a 292% increase from $19.91B in 1996.

How fast is HCA Healthcare, Inc. growing?

HCA Healthcare, Inc. (HCA) grew revenue by 7.1% over the past year. This is steady growth.

Is HCA profitable?

Yes, HCA Healthcare, Inc. (HCA) is profitable, generating $6.84B in net income for fiscal year 2025 (9.0% net margin).

Dividend & Returns
Does HCA pay dividends?

Yes, HCA Healthcare, Inc. (HCA) pays a dividend with a yield of 0.67%. This makes it attractive for income-focused investors.

What is HCA Healthcare, Inc.'s free cash flow?

HCA Healthcare, Inc. (HCA) generated $6.00B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in HCA back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →