{ "ok": true, "cik": "860730", "ticker": "HCA", "name": "HCA Healthcare, Inc.", "filings": [ { "form": "8-K", "filed": "2026-07-29", "items": [ "2.03 Creation of a Direct Financial Obligation", "8.01 Other Events" ], "url": "https://www.sec.gov/Archives/edgar/data/860730/000119312526323731/0001193125-26-323731-index.htm" }, { "form": "10-Q", "filed": "2026-07-28", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/860730/000119312526321077/0001193125-26-321077-index.htm" }, { "form": "8-K", "filed": "2026-07-24", "items": [ "2.02 Results of Operations and Financial Condition", "7.01 Regulation FD Disclosure", "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/860730/000119312526315151/0001193125-26-315151-index.htm" }, { "form": "8-K", "filed": "2026-07-14", "items": [ "2.02 Results of Operations and Financial Condition", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/860730/000119312526302539/0001193125-26-302539-index.htm" }, { "form": "8-K", "filed": "2026-06-18", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers" ], "url": "https://www.sec.gov/Archives/edgar/data/860730/000119312526275086/0001193125-26-275086-index.htm" }, { "form": "8-K", "filed": "2026-04-30", "items": [ "1.01 Entry into a Material Definitive Agreement", "2.03 Creation of a Direct Financial Obligation", "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/860730/000119312526197278/0001193125-26-197278-index.htm" } ], "events12m": 13, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 2, "latest": { "filed": "2026-06-18", "url": "https://www.sec.gov/Archives/edgar/data/860730/000119312526275086/0001193125-26-275086-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000860730.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=860730" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up HCA Healthcare, Inc. ($HCA). Last filing: 8-K (2.03 Creation of a Direct Financial Obligation), 2026-07-29. 13 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 75600000000, "revenueGrowth1y": 0.07077602934719485, "revenueGrowthPerYear": 0.06506174291272315, "yearsOfData": 5, "operatingMargin": null, "operatingMarginPrior": null, "netMargin": 0.10293650793650794, "operatingCashFlow": 12636000000, "capitalSpending": 4944000000, "freeCashFlow": 7692000000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 1040000000, "longTermDebt": 44285000000, "longTermDebtChange": 0.029141781506355935, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 58752000000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 60233000000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 64968000000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 70603000000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 75600000000 } ], "totalEquity": -6027000000, "totalAssets": 60720000000, "equityRatio": -0.09925889328063241, "returnOnEquity": null, "dividendsPaid": 679000000, "payoutRatio": 0.08725263428424569, "dividendPerShare": 2.88, "dividendYearsRising": 5, "dividendCut": false, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 28.7, "sharesOutstanding": 239495000, "bookValuePerShare": -25.165452305893652, "revenuePerShare": 315.66421010877053, "range80": { "low": 73394166397.1408, "high": 84221618633.90318, "baseline": 81249732763.31505, "n": 1471, "band": "b10", "bandLabel": "$10B+", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.026132624534440946, "classVolatility": 0.06659579566308972, "volatility": 0.05058613478542349 }, "ifPaceHeld": { "low": 73394166397.1408, "high": 84221618633.90318 } }, "edgarette": "🔖 Exposure: revenue $75.6B (FY2025), total debt $44.3B. Experience: revenue up 7.1% on the year, up 6.5% a year over 4 years. Soundness: equity -9.9% of assets (liabilities exceed assets), payout 8.7% of profit, dividend per share up 5 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $73.4B and $84.2B next year (method v4.1: its own 4-year record of growth weighed at 50% against $10B+ filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $69.1B to $89.0B. A statistical range, not company guidance. Against peers (54 filers, $50M+ revenue, its industry group): growth 7.1% against 13.0%.", "peers": { "sic": 8062, "sicDescription": "Services-General Medical & Surgical Hospitals, NEC", "calendarYear": 2025, "minRevenue": 50000000, "depth": 2, "group": "80", "growth": [ 0.1303, 61 ], "opMargin": [ 0.0199, 54 ], "equityRatio": [ 0.4419, 59 ], "returnOnEquity": [ 0.0155, 49 ], "payoutRatio": [ 0.1928, 13 ] }, "summary": "HCA Healthcare (HCA) grew revenue 7.1% in FY2025 to $75.6 billion, equity -9.9% of assets, and dividend per share up 5 years running. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
HCA Healthcare, Inc. against its own record and its peers
Revenue, on the yearPeer median 13.0%7.1%Equity of assetsPeer median 44.2%-9.9%Payout of profitPeer median 19.3%8.7%Gold tick: the median of 13–59 peers with $50M+ revenue in services-general medical & surgical hospitals, nec
", "chartHorizon": "
Handed back now, or kept to compound
Of each dollar of profit8.7% paid out91.3% keptHanded back per share$2.88up 5 years runningRevenue growth it managed7.1%last year, for comparison

Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 6, "hits": 5, "rate": 0.8333333333333334, "method": "v4", "byYear": { "2020": [ 1, 1 ], "2021": [ 0, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:34:12.374Z", "hash": "12c486ada0c51dda", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "HCA Healthcare (HCA) grew revenue 7.1% in FY2025 to $75.6 billion, equity -9.9% of assets, and dividend per share up 5 years running. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 75600000000, "totalDebt": 44285000000, "cash": 1040000000 }, "experience": { "revenueGrowth1y": 0.07077602934719485, "revenueGrowthPerYear": 0.06506174291272315, "operatingMargin": null, "operatingMarginPrior": null, "netMargin": 0.10293650793650794, "freeCashFlow": 7692000000 }, "soundness": { "equityRatio": -0.09925889328063241, "returnOnEquity": null, "payoutRatio": 0.08725263428424569, "dividendPerShare": 2.88, "dividendYearsRising": 5, "dividendCut": false, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 8062, "sicDescription": "Services-General Medical & Surgical Hospitals, NEC", "calendarYear": 2025, "minRevenue": 50000000, "depth": 2, "group": "80", "growth": [ 0.1303, 61 ], "opMargin": [ 0.0199, 54 ], "equityRatio": [ 0.4419, 59 ], "returnOnEquity": [ 0.0155, 49 ], "payoutRatio": [ 0.1928, 13 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 2, "latest": { "filed": "2026-06-18", "url": "https://www.sec.gov/Archives/edgar/data/860730/000119312526275086/0001193125-26-275086-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 73394166397.1408, "high": 84221618633.90318, "baseline": 81249732763.31505, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 1471, "sizeBand": "$10B+", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.026132624534440946, "classVolatility": 0.06659579566308972, "pricedVolatility": 0.05058613478542349, "k": 3 }, "stress": { "low": 69088996045.16602, "high": 88996112915.10968, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 6, "hits": 5, "rate": 0.8333333333333334, "method": "v4", "byYear": { "2020": [ 1, 1 ], "2021": [ 0, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:34:12.374Z", "hash": "12c486ada0c51dda", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000860730.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=860730" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.1671, "growth3y": 0.0787, "volatility": 0.0261, "paysDividend": true, "raisedDividend": false, "equityRatio": -0.0993, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "later", "inside": "Turns 16.7% of revenue into operating cash; revenue growing 7.9% a year over three years; pays a dividend; liabilities exceed assets.", "outside": "Among $10B+ companies: 59th percentile for cash, 67th for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$10B+", "cashPctInClass": 59, "growthPctInClass": 67, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "balance", "text": "liabilities exceed assets (often from years of share buybacks, not always distress)" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 12636000000, "investing": -4988000000, "financing": -8550000000, "capitalSpending": 4944000000, "free": 7692000000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 8959000000, "free": 5382000000 }, { "fiscalYearEnd": "2022-12-31", "operating": 8522000000, "free": 4127000000 }, { "fiscalYearEnd": "2023-12-31", "operating": 9431000000, "free": 4687000000 }, { "fiscalYearEnd": "2024-12-31", "operating": 10514000000, "free": 5639000000 }, { "fiscalYearEnd": "2025-12-31", "operating": 12636000000, "free": 7692000000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 1040000000, "shortTerm": 29000000, "longTerm": 627000000, "equityHoldings": null, "totalAssets": 60720000000, "ladder": { "within1y": 29000000, "y1to5": 140000000, "y5to10": 104000000, "y10plus": 55000000, "noSingleDate": 328000000 }, "currentRatio": 0.97, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.1671, "growth3y": 0.0787, "volatility": 0.0261, "paysDividend": true, "raisedDividend": false, "equityRatio": -0.0993, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "later", "inside": "Turns 16.7% of revenue into operating cash; revenue growing 7.9% a year over three years; pays a dividend; liabilities exceed assets.", "outside": "Among $10B+ companies: 59th percentile for cash, 67th for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$10B+", "cashPctInClass": 59, "growthPctInClass": 67, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "balance", "text": "liabilities exceed assets (often from years of share buybacks, not always distress)" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 12636000000, "investing": -4988000000, "financing": -8550000000, "capitalSpending": 4944000000, "free": 7692000000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 8959000000, "free": 5382000000 }, { "fiscalYearEnd": "2022-12-31", "operating": 8522000000, "free": 4127000000 }, { "fiscalYearEnd": "2023-12-31", "operating": 9431000000, "free": 4687000000 }, { "fiscalYearEnd": "2024-12-31", "operating": 10514000000, "free": 5639000000 }, { "fiscalYearEnd": "2025-12-31", "operating": 12636000000, "free": 7692000000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 1040000000, "shortTerm": 29000000, "longTerm": 627000000, "equityHoldings": null, "totalAssets": 60720000000, "ladder": { "within1y": 29000000, "y1to5": 140000000, "y5to10": 104000000, "y10plus": 55000000, "noSingleDate": 328000000 }, "currentRatio": 0.97, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }