HCA Healthcare (HCA) stock
Health Care · Health Care Facilities
HCA Healthcare (HCA) is a Health Care Facilities company in the Health Care sector, headquartered in Nashville, Tennessee. As of October 23, 2026, HCA closed at $469.03, a market capitalization of $101.55 billion, the 119th largest company in the S&P 500. Over the last twelve months it generated $78.01 billion in revenue (+9% year over year) and $6.00 billion in free cash flow. The stock trades at 15.7x trailing earnings and 14.7x forward earnings.
- 1-year total return: +7.3% (dividends reinvested)
- 5-year return: +14.1% a year
- 52-week range: $353.99 – $556.52
- Gross margin 42.6%, operating margin 15.2%
- Dividend yield: 0.67%, 5 straight years of increases
- FI Handbook report card: B- across 9 metrics
- 19th largest of 60 Health Care stocks in the S&P 500
HCA price chart
1Y price change: +6.6% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| HCA | +7.5% | +1.0% | +7.3% | +25.8% | +14.1% | +20.0% | +21.3% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2011.
HCA key statistics
- Market cap
- $101.5B
- #119 in S&P 500
- P/E (TTM)
- 15.7x
- Forward P/E
- 14.7x
- EPS (TTM)
- $29.83
- Revenue (TTM)
- $78.0B
- +9%
- Free cash flow
- $6.0B
- Gross margin
- 42.6%
- Operating margin
- 15.2%
- Return on equity
- —
- Dividend yield
- 0.67%
- 52-week range
- $353.99 – $556.52
- Beta
- 1.11
- Price / sales
- 1.3x
- EV / EBITDA
- 9.9x
- Debt / equity
- —
- Employees
- 230,000
HCA report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth8.7%C
- Gross margin42.6%B
- Operating margin15.2%C
- FCF margin7.7%D
- Return on equity——
- Net debt / EBITDA3.2xD
- Forward P/E14.7xA
- PEG ratio1.3xB
- Shareholder yield10.6%A
- Share count change / yr-7.0%A
HCA Healthcare financials
Revenue went from $41.5B in fiscal 2016 to $75.6B in fiscal 2025, growing 6.9% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $41.5B | $43.6B | $46.7B | $51.3B | $51.5B | $58.8B | $60.2B | $65.0B | $70.6B | $75.6B |
| Net income | $2.9B | $2.2B | $3.8B | $3.5B | $3.8B | $7.0B | $5.6B | $5.2B | $5.8B | $6.8B |
| EPS (diluted) | $7.30 | $5.95 | $10.66 | $10.07 | $10.93 | $21.16 | $19.15 | $18.97 | $22.00 | $28.33 |
| Free cash flow | $2.9B | $2.4B | $3.2B | $3.4B | $6.4B | $5.4B | $4.1B | $4.7B | $5.6B | $7.7B |
| Buybacks | $2.8B | $2.1B | $1.5B | $1.0B | $441.0M | $8.2B | $7.0B | $3.8B | $6.0B | $10.1B |
| Dividends paid | — | $0 | $487.0M | $550.0M | $153.0M | $624.0M | $653.0M | $661.0M | $690.0M | $679.0M |
| Diluted shares | 395.9M | 372.2M | 355.3M | 348.2M | 343.6M | 328.8M | 294.7M | 276.4M | 261.8M | 239.5M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into HCA?
A reverse DCF asks what growth the current price requires. With an enterprise value of $152.0B and $6.0B of trailing free cash flow, HCA Healthcare needs to grow free cash flow about 16.5% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 3.8% a year over the last five years.
P/E ratio history
Current 16.6x vs. median 15.0x (10th–90th percentile 10.8x–22.5x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
HCA dividend
- Dividend yield
- 0.67%
- Annual dividend
- $3.12
- Years of increases
- 5
- 5-yr dividend growth
- 53.3%
- per year
- Payout ratio
- 10%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
HCA analyst price targets
21 analysts' average 12-month target is $461.81 (-2% vs. $469.03). Targets range from $380.00 to $579.00. 58% rate it a buy.
HCA earnings
Next report: October 27, 2026. HCA Healthcare has beaten EPS estimates 7 quarters in a row. Last quarter's revenue was $20.2B (+9% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 24, 2026 | $7.50 | $7.59 | +1.2% |
| Apr 24, 2026 | $7.13 | $7.15 | +0.3% |
| Jan 27, 2026 | $7.48 | $8.01 | +7.1% |
| Oct 24, 2025 | $5.73 | $6.96 | +21.6% |
| Jul 25, 2025 | $6.32 | $6.84 | +8.2% |
| Apr 25, 2025 | $5.75 | $6.45 | +12.1% |
| Jan 24, 2025 | $6.14 | $6.22 | +1.2% |
| Oct 25, 2024 | $4.98 | $4.90 | -1.6% |
Stocks like HCA
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 UHS Universal Health Services | -0.66% | -10% | $11.0B | 7.4x | Compare |
 LLY Eli Lilly and | -2.54% | +56% | $1.1T | 42.7x | Compare |
 JNJ Johnson & Johnson | -1.42% | +40% | $635.1B | 40.0x | Compare |
 ABBV AbbVie | +0.16% | +29% | $504.8B | 80.7x | Compare |
 UNH UnitedHealth | -1.62% | +19% | $375.3B | 26.9x | Compare |
 MRK Merck & | -1.34% | +72% | $358.4B | 117.2x | Compare |
 TMO Thermo Fisher Scientific | -0.40% | +18% | $249.1B | 35.5x | Compare |
 AMGN Amgen | -1.79% | +54% | $237.5B | 27.3x | Compare |
HCA news
- Countdown to HCA (HCA) Q3 Earnings: A Look at Estimates Beyond Revenue and EPS · Oct 22, 2026
- Will HCA Healthcare's Q3 Earnings Benefit From Higher Admissions? · Oct 22, 2026
- HCA Healthcare to Host Eighth Annual "Crush the Crisis" National Prescription Drug Take Back Day · Oct 21, 2026
- Analysts Estimate HCA Healthcare (HCA) to Report a Decline in Earnings: What to Look Out for · Oct 20, 2026
- Here's How Much a $1000 Investment in HCA Healthcare Made 10 Years Ago Would Be Worth Today · Oct 20, 2026
HCA stock FAQ
What is HCA's market cap?
HCA Healthcare's market capitalization is $101.55 billion as of October 23, 2026, ranking 119th in the S&P 500.
What is HCA's P/E ratio?
HCA trades at a trailing price-to-earnings ratio of 15.7x and a forward P/E of 14.7x. Its median P/E over the period we track is 15.0x.
Does HCA pay a dividend?
Yes. HCA Healthcare pays $3.12 per share a year, a 0.67% yield. It has raised its dividend 5 years in a row. Dividends grew 53.3% a year over the last five years.
How much has HCA stock returned?
Including reinvested dividends, HCA returned +7.3% over one year, +14.1% a year over five years, +20.0% a year over ten years through October 23, 2026.
Is HCA stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies HCA Healthcare must grow free cash flow about 17% a year for the next decade. Its free cash flow grew 4% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the HCA price target?
21 analysts cover HCA with an average 12-month price target of $461.81, -2% from the current price. 58% of them rate it a buy.
When does HCA report earnings?
HCA Healthcare is expected to report earnings on October 27, 2026. It has beaten EPS estimates 7 quarters in a row.
How many employees does HCA Healthcare have?
HCA Healthcare has about 230,000 full-time employees, or $339,187 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology