Stock Analysis on Net
Stock Analysis on Net

HCA Healthcare Inc. (NYSE:HCA)

This company has been moved to the archive! The financial data has not been updated since May 3, 2022.

Analysis of Investments

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Adjustment to Net Income (Loss): Mark to Market Available-for-sale Securities

HCA Healthcare Inc., adjustment to net income attributable to HCA Healthcare, Inc.

US$ in millions

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12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net income attributable to HCA Healthcare, Inc. (as reported) 6,956 3,754 3,505 3,787 2,216
Add: Unrealized gains (losses) on available-for-sale securities (13) 11 11 (5) 1
Less: Realized gains included in other operating expenses — — — — (1)
Net income attributable to HCA Healthcare, Inc. (adjusted) 6,943 3,765 3,516 3,782 2,216

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Adjusted Profitability Ratios: Mark to Market Available-for-sale Securities (Summary)

HCA Healthcare Inc., adjusted profitability ratios

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net Profit Margin
Reported net profit margin 11.84% 7.28% 6.83% 8.11% 5.08%
Adjusted net profit margin 11.82% 7.31% 6.85% 8.10% 5.08%
Return on Equity (ROE)
Reported ROE — 656.29% — — —
Adjusted ROE — 658.22% — — —
Return on Assets (ROA)
Reported ROA 13.71% 7.90% 7.78% 9.66% 6.06%
Adjusted ROA 13.68% 7.93% 7.80% 9.65% 6.06%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. HCA Healthcare Inc. adjusted net profit margin ratio improved from 2019 to 2020 and from 2020 to 2021.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. HCA Healthcare Inc. adjusted ROA improved from 2019 to 2020 and from 2020 to 2021.

HCA Healthcare Inc., Profitability Ratios: Reported vs. Adjusted

Adjusted Net Profit Margin

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to HCA Healthcare, Inc. 6,956 3,754 3,505 3,787 2,216
Revenues 58,752 51,533 51,336 46,677 43,614
Profitability Ratio
Net profit margin1 11.84% 7.28% 6.83% 8.11% 5.08%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income attributable to HCA Healthcare, Inc. 6,943 3,765 3,516 3,782 2,216
Revenues 58,752 51,533 51,336 46,677 43,614
Profitability Ratio
Adjusted net profit margin2 11.82% 7.31% 6.85% 8.10% 5.08%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 Net profit margin = 100 × Net income attributable to HCA Healthcare, Inc. ÷ Revenues
= 100 × 6,956 ÷ 58,752 = 11.84%

2 Adjusted net profit margin = 100 × Adjusted net income attributable to HCA Healthcare, Inc. ÷ Revenues
= 100 × 6,943 ÷ 58,752 = 11.82%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. HCA Healthcare Inc. adjusted net profit margin ratio improved from 2019 to 2020 and from 2020 to 2021.

Adjusted Return on Equity (ROE)

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to HCA Healthcare, Inc. 6,956 3,754 3,505 3,787 2,216
Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc. (933) 572 (2,808) (4,950) (6,806)
Profitability Ratio
ROE1 — 656.29% — — —
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income attributable to HCA Healthcare, Inc. 6,943 3,765 3,516 3,782 2,216
Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc. (933) 572 (2,808) (4,950) (6,806)
Profitability Ratio
Adjusted ROE2 — 658.22% — — —

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 ROE = 100 × Net income attributable to HCA Healthcare, Inc. ÷ Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc.
= 100 × 6,956 ÷ -933 = —

2 Adjusted ROE = 100 × Adjusted net income attributable to HCA Healthcare, Inc. ÷ Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc.
= 100 × 6,943 ÷ -933 = —

Adjusted Return on Assets (ROA)

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to HCA Healthcare, Inc. 6,956 3,754 3,505 3,787 2,216
Total assets 50,742 47,490 45,058 39,207 36,593
Profitability Ratio
ROA1 13.71% 7.90% 7.78% 9.66% 6.06%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income attributable to HCA Healthcare, Inc. 6,943 3,765 3,516 3,782 2,216
Total assets 50,742 47,490 45,058 39,207 36,593
Profitability Ratio
Adjusted ROA2 13.68% 7.93% 7.80% 9.65% 6.06%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 ROA = 100 × Net income attributable to HCA Healthcare, Inc. ÷ Total assets
= 100 × 6,956 ÷ 50,742 = 13.71%

2 Adjusted ROA = 100 × Adjusted net income attributable to HCA Healthcare, Inc. ÷ Total assets
= 100 × 6,943 ÷ 50,742 = 13.68%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. HCA Healthcare Inc. adjusted ROA improved from 2019 to 2020 and from 2020 to 2021.