HCA Healthcare (HCA) Financial Statements & Analysis

HCA Healthcare (HCA) Income Statement

HCA Healthcare reported revenue of $75.60B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 7.1% from $70.60B a year earlier. Net income was $6.78B, up 17.8% year over year, a net margin of 9.0%. Gross margin was 41.5% and operating margin 15.8%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $20.23B, up 8.7% from the same quarter a year earlier.

HCA Healthcare Income Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

HCA Healthcare, Inc. income statement - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	75.60	70.60	64.97	60.23	58.75	51.53	51.34	46.68	43.61
Cost of Revenue	44.23	41.93	39.39	37.06	36.26	8.37	8.48	7.72	7.32
Gross Profit	31.37	28.68	25.58	23.18	22.49	43.16	42.86	38.95	36.30
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	8.00	31.17	0.99	27.69	26.78	23.87	23.56	21.43	20.06
Operating Expenses	19.41	18.13	15.95	14.12	12.81	35.90	35.64	32.31	30.24
Operating Income	11.97	10.55	9.63	9.05	9.68	7.26	7.22	6.64	6.06
Other Income/Expense
Interest Income	0.00	0.02	0.02	0.05	0.00	0.00	0.00	0.00	0.00
Interest Expense	2.25	2.06	-1.94	1.74	1.53	1.56	1.84	1.77	1.67
Other Income/Expense	-2.13	0.04	-1.92	1.27	0.16	-1.83	-1.97	-1.31	-1.68
Income
Income Before Tax	9.83	8.52	7.71	8.58	9.83	5.43	5.24	5.34	4.38
Income Tax Expense	2.05	1.87	1.62	1.75	2.11	1.04	1.10	0.95	1.64
Net Income	6.78	5.76	5.24	5.64	6.96	3.75	3.51	3.79	2.22
Net Income - Continuous Operations	6.78	6.66	5.24	6.83	6.96	3.75	3.51	3.79	2.22
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	15.60	13.90	12.70	13.29	14.25	9.74	9.66	9.37	8.20
EBIT	12.08	10.58	9.63	10.32	9.68	-	-	-	-
Depreciation & Amortization	3.52	3.31	3.08	2.97	2.85	2.72	2.60	2.28	2.13
Earnings Per Share
Basic EPS	29.00	23.00	19.00	19.00	22.00	11.00	10.00	11.00	6.00
Diluted EPS	28.00	22.00	19.00	19.00	21.00	11.00	10.00	11.00	6.00
Basic Shares Outstanding	0.23	0.25	0.27	0.29	0.32	0.34	0.34	0.34	0.35
Diluted Shares Outstanding	0.23	0.26	0.28	0.29	0.33	0.35	0.35	0.36	0.37

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About HCA Healthcare Financial Statements

What was HCA Healthcare's revenue in fiscal 2025?

HCA Healthcare reported revenue of $75.60B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 7.1% from $70.60B a year earlier.

Is HCA Healthcare profitable?

Yes. HCA Healthcare earned net income of $6.78B in fiscal 2025, a net margin of 9.0%. In fiscal 2024 it earned $5.76B.

What is HCA Healthcare's operating margin?

HCA Healthcare's operating income was $11.96B on revenue of $75.60B in fiscal 2025, an operating margin of 15.8%, compared with 14.9% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition