Last 48 quarters of trend data · Healthcare · Medical - Care Facilities
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
HCA Healthcare, Inc.'s quarterly P/E stands at 14.3x, up 7.6% year-over-year. EV/EBITDA has expanded 18.4% YoY to 9.6x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 18.66 | 14.34 | 15.31 | 14.02 | 13.39 | 13.33 | 20.78 | 14.52 | 14.04 | 11.41 | 15.81 | 17.69 | 13.59 |
| — | +7.6% | -26.3% | -3.5% | -4.6% | +16.8% | +31.4% | -17.9% | +3.3% | +38.5% | +34.5% | +64.2% | -10.2% | |
| P/S Ratio | 1.57 | 1.38 | 1.35 | 1.25 | 1.18 | 1.05 | 1.51 | 1.21 | 1.29 | 1.06 | 1.03 | 1.33 | 1.19 |
| — | +31.7% | -10.7% | +2.7% | -8.7% | -1.2% | +46.8% | -8.9% | +8.5% | -4.1% | +15.6% | +58.5% | -7.8% | |
| P/B Ratio | — | — | — | — | — | 138.07 | 134.40 | 63.36 | 70.39 | 69.25 | 186.85 | 183.14 | 319.33 |
| — | — | — | — | — | +99.4% | -28.1% | -65.4% | -78.0% | — | — | — | +71.6% | |
| P/FCF | 15.40 | 30.95 | 8.26 | 7.64 | 32.65 | 15.04 | 11.36 | 30.74 | 16.54 | 12.11 | 12.52 | 17.10 | 30.56 |
| — | +105.8% | -27.3% | -75.2% | +97.4% | +24.1% | -9.2% | +79.7% | -45.9% | -14.9% | +77.6% | -24.4% | -23.2% | |
| EV / EBITDA | 10.82 | 9.59 | 9.65 | 9.01 | 8.85 | 8.10 | 11.35 | 8.93 | 9.70 | 7.96 | 9.34 | 10.15 | 8.92 |
| — | +18.4% | -15.0% | +1.0% | -8.7% | +1.7% | +21.5% | -12.0% | +8.8% | -6.6% | +17.8% | +37.4% | -8.3% | |
| EV / EBIT | 14.01 | 12.09 | 12.48 | 11.57 | 11.44 | 11.27 | 15.25 | 11.56 | 11.80 | 10.08 | 12.65 | 13.55 | 11.85 |
| — | +7.3% | -18.2% | +0.2% | -3.0% | +11.8% | +20.5% | -14.7% | -0.4% | +40.4% | +18.6% | +32.7% | -7.7% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
HCA Healthcare, Inc.'s operating margin was 16.3% in Q4 2025, up 0.8 pp QoQ and up 0.7 pp YoY.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 41.5% | 41.9% | 41.8% | 41.0% | 41.3% | 41.4% | 39.9% | 41.0% | 84.6% | 85.1% | -96.8% | 84.4% | 84.5% |
| — | +1.1% | +5.0% | -0.1% | -51.2% | -51.3% | +141.2% | -51.4% | +0.2% | +0.9% | -214.5% | -0.1% | -0.0% | |
| Operating Margin | 15.8% | 16.3% | 15.5% | 15.9% | 15.6% | 15.6% | 13.8% | 15.6% | 14.8% | 16.2% | 12.9% | 14.5% | 15.6% |
| — | +4.6% | +12.3% | +2.1% | +5.5% | -3.8% | +6.8% | +7.7% | -5.4% | +4.0% | -9.9% | -6.4% | +6.0% | |
| Net Margin | 9.0% | 9.6% | 8.6% | 8.9% | 8.8% | 7.9% | 7.3% | 8.4% | 9.2% | 9.3% | 6.7% | 7.5% | 8.7% |
| — | +22.4% | +18.1% | +6.4% | -4.2% | -15.3% | +9.1% | +11.0% | +5.0% | -30.8% | -12.1% | -3.5% | +2.6% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | 2752.1% | 214.5% | 119.5% | 112.0% | 136.6% | 226.8% | 263.8% | 344.3% | 1714.5% |
| — | — | — | — | +1915.2% | -5.4% | -54.7% | -67.5% | -92.0% | — | — | — | +1181.5% | |
| ROA | 11.3% | 3.1% | 2.8% | 2.8% | 2.7% | 2.4% | 2.2% | 2.6% | 2.8% | 2.9% | 2.0% | 2.2% | 2.6% |
| — | +29.0% | +26.7% | +8.4% | -4.0% | -16.7% | +9.0% | +13.9% | +8.5% | -27.6% | -9.3% | +0.8% | +4.8% | |
| ROIC | 19.9% | 5.3% | 5.1% | 5.0% | 4.8% | 4.9% | 4.2% | 4.8% | 4.6% | 5.1% | 3.9% | 4.3% | 4.6% |
| — | +8.0% | +21.2% | +4.1% | +5.6% | -3.2% | +8.3% | +11.7% | -0.9% | +8.1% | -7.8% | -4.9% | +3.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
HCA Healthcare, Inc.'s Debt/EBITDA ratio is 12.3x — elevated, raising questions about debt serviceability. The current ratio has weakened 23.3% YoY to 0.83x, tightening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | 81.51 | 57.11 | 31.94 | 33.15 | 39.49 | 115.19 | 88.37 | 174.88 |
| — | — | — | — | — | +106.4% | -50.4% | -63.9% | -81.0% | — | — | — | +83.4% | |
| Debt / EBITDA | 3.24 | 12.28 | 12.03 | 12.11 | 12.50 | 12.22 | 13.80 | 12.05 | 12.55 | 11.66 | 14.37 | 13.30 | 12.72 |
| — | +0.5% | -12.9% | +0.5% | -0.4% | +4.8% | -4.0% | -9.4% | -1.3% | -8.3% | +5.3% | -0.9% | -5.5% | |
| Current Ratio | 0.83 | 0.83 | 0.85 | 0.98 | 1.19 | 1.08 | 1.12 | 1.06 | 1.16 | 1.18 | 1.15 | 1.20 | 1.23 |
| — | -23.3% | -23.6% | -8.0% | +2.6% | -8.3% | -2.9% | -11.8% | -5.3% | -14.4% | -16.4% | -22.3% | -13.9% | |
| Quick Ratio | 0.73 | 0.73 | 0.76 | 0.86 | 1.06 | 0.97 | 1.00 | 0.94 | 1.02 | 1.02 | 0.99 | 1.03 | 1.04 |
| — | -24.7% | -24.2% | -7.6% | +4.2% | -5.2% | +1.1% | -8.8% | -2.0% | -12.8% | -15.7% | -22.4% | -16.0% | |
| Interest Coverage | 5.32 | 5.56 | 5.29 | 5.22 | 5.22 | 5.39 | 4.68 | 5.40 | 5.00 | 5.70 | 4.33 | 4.74 | 5.08 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Start ComparisonHCA Healthcare, Inc.'s current P/E is 18.7x. The average P/E over the last 4 quarters is 14.3x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
HCA Healthcare, Inc.'s current operating margin is 15.8%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking HCA Healthcare, Inc.'s business trajectory between earnings reports.