HCA Healthcare Inc. (HCA) financial statements: income statement, balance sheet and cash flow

HCA Healthcare Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), HCA Healthcare Inc. reported revenue of $75.6B (+7.1% year on year) and net income of $7.8B (+16.9% year on year).

Income statement

HCA Healthcare Inc. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Revenues	$75.6B	$70.6B	$65.0B	$60.2B
Salaries and benefits	$32.9B	$31.2B	$29.5B	$27.7B
Supplies	$11.4B	$10.8B	$9.9B	$9.4B
Other operating expenses	$15.9B	$14.8B	$12.9B	$11.2B
Equity in earnings of affiliates	($78.0M)	($23.0M)	($22.0M)	($45.0M)
Depreciation and amortization	$3.5B	$3.3B	$3.1B	$3.0B
Interest expense	$2.2B	$2.1B	$1.9B	$1.7B
Losses (gains) on sales of facilities	($37.0M)	($14.0M)	$5.0M	($1.3B)
Total expenses including equity in earnings of affiliates	$65.8B	$62.1B	$57.3B	$51.7B
Income before income taxes	$9.8B	$8.5B	$7.7B	$8.6B
Provision for income taxes	$2.0B	$1.9B	$1.6B	$1.7B
Net income	$7.8B	$6.7B	$6.1B	$6.8B
Net income attributable to noncontrolling interests	$998.0M	$897.0M	$849.0M	$1.2B
Net income attributable to HCA Healthcare, Inc.	$6.8B	$5.8B	$5.2B	$5.6B
Basic earnings per share	$28.70	$22.27	$19.25	$19.43
Diluted earnings per share	$28.33	$22.00	$18.97	$19.15
Basic	236.4M	258.6M	272.4M	290.3M
Diluted	239.5M	261.8M	276.4M	294.7M

HCA Healthcare Inc. income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Revenues	$20.2B	$19.1B	$19.2B	$18.6B
Salaries and benefits	$8.3B	$8.3B	$8.4B	$8.1B
Supplies	$2.9B	$2.9B	$2.8B	$2.8B
Other operating expenses	$5.0B	$4.2B	$4.2B	$3.8B
Equity in earnings of affiliates	($16.0M)	($9.0M)	($16.0M)	($19.0M)
Depreciation and amortization	$944.0M	$930.0M	$889.0M	$863.0M
Interest expense	$599.0M	$584.0M	$561.0M	$568.0M
Losses (gains) on sales of facilities	($10.0M)	$1.0M	$2.0M	$3.0M
Total expenses including equity in earnings of affiliates	$17.7B	$16.8B	$16.7B	$16.2B
Income before income taxes	$2.5B	$2.3B	$2.4B	$2.4B
Provision for income taxes	$564.0M	$430.0M	$515.0M	$524.0M
Net income	$1.9B	$1.9B	$1.9B	$1.9B
Net income attributable to noncontrolling interests	$231.0M	$237.0M	$260.0M	$238.0M
Net income attributable to HCA Healthcare, Inc.	$1.7B	$1.6B	$1.6B	$1.7B
Basic earnings	$7.70	$7.25	$7.05	$6.91
Diluted earnings	$7.62	$7.15	$6.96	$6.83
Basic	220.5M	223.6M	232.9M	239.2M
Diluted	222.8M	226.7M	236.2M	241.9M

Balance sheet

HCA Healthcare Inc. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$1.0B	$1.9B	$935.0M	$908.0M
Accounts receivable	$10.9B	$10.8B	$10.0B	$8.9B
Inventories	$1.7B	$1.7B	$2.0B	$2.1B
Other	$2.2B	$2.0B	$2.0B	$1.8B
Total current assets	$15.8B	$16.4B	$14.9B	$13.6B
Land	$3.4B	$3.3B	$3.1B	$2.8B
Buildings	$23.7B	$22.7B	$21.6B	$20.2B
Equipment	$37.0B	$34.7B	$32.0B	$30.0B
Construction in progress	$2.1B	$1.9B	$1.9B	$1.8B
Property and equipment, at cost	$66.3B	$62.5B	$58.5B	$54.8B
Accumulated depreciation	($35.1B)	($33.1B)	($30.8B)	($29.2B)
Property and equipment, net	$31.1B	$29.4B	$27.7B	$25.6B
Investments of insurance subsidiaries	$485.0M	$569.0M	$477.0M	$381.0M
Investments in and advances to affiliates	$633.0M	$662.0M	$756.0M	$823.0M
Goodwill and other intangible assets	$10.3B	$10.1B	$9.9B	$9.7B
Right-of-use operating lease assets	$2.1B	$2.1B	$2.2B	$2.1B
Other	$255.0M	$230.0M	$184.0M	$298.0M
Total assets	$60.7B	$59.5B	$56.2B	$52.4B
Accounts payable	$4.7B	$4.3B	$4.2B	$4.2B
Accrued salaries	$2.5B	$2.3B	$2.1B	$1.7B
Other accrued expenses	$4.3B	$3.9B	$3.9B	$3.6B
Short-term borrowings and long-term debt due within one year	$4.9B	—	—	—
Total current liabilities	$16.4B	$15.2B	$12.7B	$9.9B
Long-term debt, less debt issuance costs and discounts of $436 and $369	$41.6B	$38.3B	$37.2B	$37.7B
Professional liability risks	$1.5B	$1.5B	$1.6B	$1.5B
Right-of-use operating lease obligations	$1.9B	$1.9B	$1.9B	$1.8B
Income taxes and other liabilities	$2.2B	$2.0B	$1.9B	$1.6B
Common stock $0.01 par; authorized 1,800,000,000 shares; outstanding 224,605,100 shares - 2025 and 249,981,400 shares - 2024	2.0M	3.0M	3.0M	3.0M
Accumulated other comprehensive loss	($305.0M)	($387.0M)	($425.0M)	($490.0M)
Retained deficit	($5.7B)	($2.1B)	($1.4B)	($2.3B)
Stockholders' deficit attributable to HCA Healthcare, Inc.	($6.0B)	($2.5B)	($1.8B)	($2.8B)
Noncontrolling interests	$3.3B	$3.1B	$2.8B	$2.7B
Total stockholders' (deficit) equity	($2.8B)	$555.0M	$1.1B	($73.0M)
Total liabilities and stockholders' (deficit) equity	$60.7B	$59.5B	$56.2B	$52.4B

HCA Healthcare Inc. balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$1.0B	$940.0M	$997.0M	$939.0M
Accounts receivable	$12.3B	$11.3B	$10.4B	$10.5B
Inventories	$1.7B	$1.7B	$1.7B	$1.8B
Other	$2.2B	$2.1B	$2.1B	$2.4B
Total current assets	$17.2B	$16.1B	$15.3B	$15.6B
Property and equipment, at cost	$68.4B	$67.4B	$65.5B	$64.4B
Accumulated depreciation	($36.6B)	($35.9B)	($34.9B)	($34.3B)
Property and equipment, net	$31.8B	$31.5B	$30.6B	$30.1B
Investments of insurance subsidiaries	$402.0M	$387.0M	$573.0M	$531.0M
Investments in and advances to affiliates	$813.0M	$615.0M	$654.0M	$654.0M
Goodwill and other intangible assets	$10.7B	$10.5B	$10.3B	$10.3B
Right-of-use operating lease assets	$2.1B	$2.1B	$2.1B	$2.2B
Other	$258.0M	$326.0M	$277.0M	$236.0M
Total assets	$63.3B	$61.5B	$59.7B	$59.5B
Accounts payable	$4.8B	$4.8B	$4.6B	$4.3B
Accrued salaries	$2.2B	$2.0B	$2.3B	$2.1B
Other accrued expenses	$4.1B	$3.9B	$4.9B	$4.5B
Short-term borrowings and long-term debt due within one year	$6.3B	$8.5B	$6.1B	$5.1B
Total current liabilities	$17.3B	$19.3B	$17.9B	$15.9B
Long-term debt, less debt issuance costs and discounts of $451and $436	$43.5B	$39.5B	$38.4B	$39.4B
Professional liability risks	$1.5B	$1.5B	$1.5B	$1.5B
Right-of-use operating lease obligations	$1.8B	$1.8B	$1.8B	$1.9B
Income taxes and other liabilities	$2.4B	$2.3B	$2.3B	$2.1B
Common stock $0.01 par; authorized 1,800,000,000 shares; outstanding 217,963,300 shares - 2026 and 224,605,100 shares - 2025	2.0M	2.0M	2.0M	2.0M
Accumulated other comprehensive loss	($334.0M)	($327.0M)	($317.0M)	($309.0M)
Retained deficit	($6.3B)	($6.0B)	($5.0B)	($4.1B)
Stockholders' deficit attributable to HCA Healthcare, Inc.	($6.6B)	($6.3B)	($5.3B)	($4.4B)
Noncontrolling interests	$3.4B	$3.3B	$3.2B	$3.2B
Total stockholders' (deficit) equity	($3.2B)	($3.0B)	($2.2B)	($1.2B)
Total liabilities and stockholders' (deficit) equity	$63.3B	$61.5B	$59.7B	$59.5B

Cash flow statement

HCA Healthcare Inc. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$7.8B	$6.7B	$6.1B	$6.8B
Accounts receivable	($94.0M)	($799.0M)	($935.0M)	($797.0M)
Inventories and other assets	($154.0M)	$334.0M	($126.0M)	($59.0M)
Accounts payable and accrued expenses	$666.0M	$359.0M	$604.0M	($296.0M)
Depreciation and amortization	$3.5B	$3.3B	$3.1B	$3.0B
Income taxes	$310.0M	$22.0M	$229.0M	$571.0M
Losses (gains) on sales of facilities	($37.0M)	($14.0M)	$5.0M	($1.3B)
Amortization of debt issuance costs and discounts	$44.0M	$35.0M	$35.0M	—
Share-based compensation	$401.0M	$360.0M	$262.0M	$341.0M
Other	$195.0M	$248.0M	$189.0M	$153.0M
Net cash provided by operating activities	$12.6B	$10.5B	$9.4B	$8.5B
Purchase of property and equipment	($4.9B)	($4.9B)	($4.7B)	($4.4B)
Acquisition of hospitals and health care entities	($397.0M)	($266.0M)	($635.0M)	($224.0M)
Sales of hospitals and health care entities	$269.0M	$328.0M	$193.0M	$1.2B
Change in investments	$72.0M	($115.0M)	($112.0M)	$14.0M
Other	$12.0M	($5.0M)	($19.0M)	($21.0M)
Net cash used in investing activities	($5.0B)	($4.9B)	($5.3B)	($3.4B)
Issuances of long-term debt	$8.5B	$7.5B	$3.2B	$6.0B
Net change in short-term borrowings and revolving credit facilities	$2.2B	($1.9B)	($1.0B)	$120.0M
Repayment of long-term debt	($7.4B)	($2.4B)	($909.0M)	($2.8B)
Distributions to noncontrolling interests	($827.0M)	($711.0M)	($640.0M)	($1.0B)
Payment of debt issuance costs	($79.0M)	($67.0M)	($31.0M)	($53.0M)
Payment of dividends	($679.0M)	($690.0M)	($661.0M)	($653.0M)
Repurchase of common stock	($10.1B)	($6.0B)	($3.8B)	($7.0B)
Other	($185.0M)	($277.0M)	($246.0M)	($212.0M)
Net cash used in financing activities	($8.6B)	($4.6B)	($4.1B)	($5.7B)
Effect of exchange rate changes on cash and cash equivalents	$9.0M	($1.0M)	$7.0M	($20.0M)
Change in cash and cash equivalents	($893.0M)	$998.0M	$27.0M	($543.0M)
Cash and cash equivalents at beginning of period	$1.9B	$935.0M	$908.0M	$1.5B
Cash and cash equivalents at end of period	$1.0B	$1.9B	$935.0M	$908.0M
Interest payments	$2.2B	$1.9B	$1.9B	$1.7B
Income tax payments, net	$1.7B	$1.8B	$1.4B	$1.2B

HCA Healthcare Inc. cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$3.8B	$1.9B	$5.6B	$3.7B
Accounts receivable	($1.4B)	($463.0M)	$345.0M	$320.0M
Inventories and other assets	($26.0M)	$80.0M	($125.0M)	($427.0M)
Accounts payable and accrued expenses	($439.0M)	($990.0M)	$29.0M	($676.0M)
Depreciation and amortization	$1.9B	$930.0M	$2.6B	$1.7B
Income taxes	$269.0M	$435.0M	$1.3B	$880.0M
Losses (gains) on sales of facilities	($9.0M)	$1.0M	$4.0M	$2.0M
Amortization of debt issuance costs and discounts	$23.0M	$11.0M	$32.0M	$25.0M
Share-based compensation	$171.0M	$86.0M	$301.0M	$197.0M
Other	$116.0M	$67.0M	$146.0M	$101.0M
Net cash provided by operating activities	$4.3B	$2.0B	$10.3B	$5.9B
Purchase of property and equipment	($2.4B)	($1.1B)	($3.5B)	($2.2B)
Acquisition of hospitals and health care entities	($386.0M)	($265.0M)	($361.0M)	($326.0M)
Sales of hospitals and health care entities	$21.0M	$3.0M	$177.0M	$167.0M
Change in investments	($120.0M)	$103.0M	($26.0M)	$41.0M
Other	($4.0M)	($4.0M)	($6.0M)	$2.0M
Net cash used in investing activities	($2.8B)	($1.3B)	($3.7B)	($2.3B)
Issuance of long-term debt	$3.0B	$0	$5.2B	$5.2B
Net change in short-term borrowings and revolving credit facility	$2.7B	$1.4B	$1.9B	$1.8B
Repayment of long-term debt	($2.6B)	($58.0M)	($5.8B)	($5.7B)
Distributions to noncontrolling interests	($334.0M)	($191.0M)	($631.0M)	($394.0M)
Payment of debt issuance costs	($17.0M)	$0	($57.0M)	($57.0M)
Payment of dividends	($354.0M)	($183.0M)	($517.0M)	($351.0M)
Repurchase of common stock	($3.6B)	($1.6B)	($7.5B)	($5.0B)
Other	($259.0M)	($262.0M)	($142.0M)	($112.0M)
Net cash used in financing activities	($1.5B)	($830.0M)	($7.6B)	($4.6B)
Effect of exchange rate changes on cash and cash equivalents	($3.0M)	($2.0M)	$9.0M	$12.0M
Change in cash and cash equivalents	($27.0M)	($100.0M)	($936.0M)	($994.0M)
Cash and cash equivalents at beginning of period	$1.0B	$1.0B	$1.9B	$1.9B
Cash and cash equivalents at end of period	$1.0B	$940.0M	$997.0M	$939.0M
Interest payments	$1.2B	$569.0M	$1.7B	$1.1B
Income tax payments, net	$725.0M	($5.0M)	$227.0M	$146.0M

HCA Healthcare Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.