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HCA Healthcare, Inc.

HCA

Healthcare · 421.20 -0.1% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

HCA Healthcare, Inc.'s current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 15 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.

Company-0.1% todayVolume comparison unavailable
Market group0 of 15 activeDrug Manufacturers - General · unavailable
Disclosed network0 of 2 confirmingNo filing-linked name is confirming now
What would change this read
  • HCA's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if HCA's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Healthcare · Medical Care Facilities

No new filing conclusion is available. 0 of 15 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • HCA's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations601
Usable filing statements17
Verified relationships3
Evidence supporting the case
  • Latest annual revenue changed +7.1% year over year.
  • Operating cash flow covered net income at 1.86x in the latest annual period.
Evidence challenging the case

No qualifying adverse evidence was identified; that is not proof there is no downside.

Questions before a position
  • P/E is 35% below the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 21% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

421.20
6m-21.6%12m+1.9%24m+5.9%
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$58.8B+14.0%$21.16-4.3%
2022-12-31$60.2B+2.5%$19.15-10.4%
2023-12-31$65.0B+7.9%$18.97-6.2%
2024-12-31$70.6B+8.7%$22.00-5.3%
2025-12-31$75.6B+7.1%$28.33-8.5%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesmixed · 1 filings
CONSOLIDATED IN COME STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2025, 2024 AND 2023 (Dollars in millions, except per share amounts) 2025 2024 2023 Revenues $ 75,600 $ 70,603 $ 64,968 Salaries and benefits 32,859 31,170 29,487 Supplies 11,367 10,755 9,902 Oth…
10-K · Feb 10, 2026
Legal and regulatory exposurepositive · 1 filings
Regulatory uncertainty has also increased as a result of recent decisions issued by the U.S.
10-K · Feb 10, 2026
Restructuring and cost reductionspositive · 1 filings
During 2024, we derecognized deferred tax assets and increased our tax provision by $ 276 million due to an internal restructuring of certain affiliates.
10-K · Feb 10, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 1.3× · EV/sales 1.9×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

421.20-0.1% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for HCA. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for HCA. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind HCA

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

HTGCHercules Capital, Inc.investeeFeb 10, 2026

Prior to the Exchange, 36,629,188 shares of our common stock were distributed to Frisco in kind by Hercules Holding II (“Hercules”), a Delaware partnership, pro rata and for no additional consideration in accordance with Frisco’s percentage interest in Hercul…

Depended on by

SGRYSurgery Partners, Inc.competitorMar 2, 2026

Several large national companies own and/or manage surgical facilities, in some cases in connection with other lines of business with which we do not compete, including HCA Healthcare, Inc., AMSURG Corp., Tenet Healthcare Corporation and Optum, Inc.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 6 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

HCA is currently a Follower in the organic co-movement group Drug Manufacturers - General. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.