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.

Adjusted Financial Ratios

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Adjusted Financial Ratios (Summary)

HCA Healthcare Inc., adjusted financial ratios

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Activity Ratio
Total Asset Turnover
Reported 1.16 1.09 1.14 1.19 1.19
Adjusted 1.17 1.09 1.15 1.15 1.15
Solvency Ratios
Debt to Equity
Reported — 54.20 — — —
Adjusted 33.57 13.19 — — —
Debt to Capital
Reported 1.03 0.98 1.09 1.18 1.26
Adjusted 0.97 0.93 1.02 1.11 1.19
Financial Leverage
Reported — 83.02 — — —
Adjusted 46.02 18.79 — — —
Profitability Ratios
Net Profit Margin
Reported 11.84% 7.28% 6.83% 8.11% 5.08%
Adjusted 13.34% 8.22% 8.46% 9.42% 7.42%
Return on Equity (ROE)
Reported — 656.29% — — —
Adjusted 716.27% 168.97% — — —
Return on Assets (ROA)
Reported 13.71% 7.90% 7.78% 9.66% 6.06%
Adjusted 15.56% 8.99% 9.71% 10.87% 8.56%

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).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. HCA Healthcare Inc. adjusted total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. HCA Healthcare Inc. adjusted debt-to-capital ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. HCA Healthcare Inc. adjusted net profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. HCA Healthcare Inc. adjusted ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

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

Adjusted Total Asset Turnover

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Revenues 58,752 51,533 51,336 46,677 43,614
Total assets 50,742 47,490 45,058 39,207 36,593
Activity Ratio
Total asset turnover1 1.16 1.09 1.14 1.19 1.19
Adjusted
Selected Financial Data (US$ in millions)
Revenues 58,752 51,533 51,336 46,677 43,614
Adjusted total assets2 50,347 47,105 44,758 40,437 37,808
Activity Ratio
Adjusted total asset turnover3 1.17 1.09 1.15 1.15 1.15

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).

1 2021 Calculation
Total asset turnover = Revenues ÷ Total assets
= 58,752 ÷ 50,742 = 1.16

2 Adjusted total assets. See details »

3 2021 Calculation
Adjusted total asset turnover = Revenues ÷ Adjusted total assets
= 58,752 ÷ 50,347 = 1.17

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. HCA Healthcare Inc. adjusted total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Adjusted Debt to Equity

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Total debt 34,579 31,004 33,722 32,821 33,058
Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc. (933) 572 (2,808) (4,950) (6,806)
Solvency Ratio
Debt to equity1 — 54.20 — — —
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 36,726 33,056 35,571 34,529 34,783
Adjusted total stockholders’ equity (deficit)3 1,094 2,507 (865) (3,396) (5,505)
Solvency Ratio
Adjusted debt to equity4 33.57 13.19 — — —

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).

1 2021 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc.
= 34,579 ÷ -933 = —

2 Adjusted total debt. See details »

3 Adjusted total stockholders’ equity (deficit). See details »

4 2021 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total stockholders’ equity (deficit)
= 36,726 ÷ 1,094 = 33.57

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Total debt 34,579 31,004 33,722 32,821 33,058
Total capital 33,646 31,576 30,914 27,871 26,252
Solvency Ratio
Debt to capital1 1.03 0.98 1.09 1.18 1.26
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 36,726 33,056 35,571 34,529 34,783
Adjusted total capital3 37,820 35,563 34,706 31,133 29,278
Solvency Ratio
Adjusted debt to capital4 0.97 0.93 1.02 1.11 1.19

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).

1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 34,579 ÷ 33,646 = 1.03

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2021 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 36,726 ÷ 37,820 = 0.97

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. HCA Healthcare Inc. adjusted debt-to-capital ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Total assets 50,742 47,490 45,058 39,207 36,593
Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc. (933) 572 (2,808) (4,950) (6,806)
Solvency Ratio
Financial leverage1 — 83.02 — — —
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 50,347 47,105 44,758 40,437 37,808
Adjusted total stockholders’ equity (deficit)3 1,094 2,507 (865) (3,396) (5,505)
Solvency Ratio
Adjusted financial leverage4 46.02 18.79 — — —

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).

1 2021 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc.
= 50,742 ÷ -933 = —

2 Adjusted total assets. See details »

3 Adjusted total stockholders’ equity (deficit). See details »

4 2021 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total stockholders’ equity (deficit)
= 50,347 ÷ 1,094 = 46.02

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
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
Selected Financial Data (US$ in millions)
Adjusted net income2 7,836 4,236 4,344 4,396 3,235
Revenues 58,752 51,533 51,336 46,677 43,614
Profitability Ratio
Adjusted net profit margin3 13.34% 8.22% 8.46% 9.42% 7.42%

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).

1 2021 Calculation
Net profit margin = 100 × Net income attributable to HCA Healthcare, Inc. ÷ Revenues
= 100 × 6,956 ÷ 58,752 = 11.84%

2 Adjusted net income. See details »

3 2021 Calculation
Adjusted net profit margin = 100 × Adjusted net income ÷ Revenues
= 100 × 7,836 ÷ 58,752 = 13.34%

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

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
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
Selected Financial Data (US$ in millions)
Adjusted net income2 7,836 4,236 4,344 4,396 3,235
Adjusted total stockholders’ equity (deficit)3 1,094 2,507 (865) (3,396) (5,505)
Profitability Ratio
Adjusted ROE4 716.27% 168.97% — — —

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).

1 2021 Calculation
ROE = 100 × Net income attributable to HCA Healthcare, Inc. ÷ Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc.
= 100 × 6,956 ÷ -933 = —

2 Adjusted net income. See details »

3 Adjusted total stockholders’ equity (deficit). See details »

4 2021 Calculation
Adjusted ROE = 100 × Adjusted net income ÷ Adjusted total stockholders’ equity (deficit)
= 100 × 7,836 ÷ 1,094 = 716.27%

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
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
Selected Financial Data (US$ in millions)
Adjusted net income2 7,836 4,236 4,344 4,396 3,235
Adjusted total assets3 50,347 47,105 44,758 40,437 37,808
Profitability Ratio
Adjusted ROA4 15.56% 8.99% 9.71% 10.87% 8.56%

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).

1 2021 Calculation
ROA = 100 × Net income attributable to HCA Healthcare, Inc. ÷ Total assets
= 100 × 6,956 ÷ 50,742 = 13.71%

2 Adjusted net income. See details »

3 Adjusted total assets. See details »

4 2021 Calculation
Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × 7,836 ÷ 50,347 = 15.56%

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