Analysis of Reportable Segments
HCA Healthcare Inc. operates in 2 segments: National Group and American Group.
Segment Profit Margin
HCA Healthcare Inc., profit margin by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| National Group | 24.14% | 21.53% | 21.74% | 22.05% | 22.15% |
| American Group | 23.54% | 22.60% | 21.16% | 20.92% | 20.23% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | National Group | National Group segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
| American Group | American Group segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021. |
Segment Profit Margin: National Group
HCA Healthcare Inc.; National Group; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Adjusted segment EBITDA | 7,200) | 5,532) | 5,634) | 4,980) | 4,600) |
| Revenues | 29,826) | 25,694) | 25,913) | 22,581) | 20,772) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 24.14% | 21.53% | 21.74% | 22.05% | 22.15% |
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
Segment profit margin = 100 × Adjusted segment EBITDA ÷ Revenues
= 100 × 7,200 ÷ 29,826 = 24.14%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | National Group | National Group segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Profit Margin: American Group
HCA Healthcare Inc.; American Group; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Adjusted segment EBITDA | 6,156) | 5,333) | 4,904) | 4,593) | 4,231) |
| Revenues | 26,152) | 23,593) | 23,173) | 21,959) | 20,912) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 23.54% | 22.60% | 21.16% | 20.92% | 20.23% |
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
Segment profit margin = 100 × Adjusted segment EBITDA ÷ Revenues
= 100 × 6,156 ÷ 26,152 = 23.54%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | American Group | American Group segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021. |
Segment Return on Assets (Segment ROA)
HCA Healthcare Inc., ROA by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| National Group | 33.95% | 29.25% | 30.80% | 33.56% | 35.12% |
| American Group | 28.73% | 25.69% | 23.80% | 24.02% | 23.33% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | National Group | National Group segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
| American Group | American Group segment ROA improved from 2019 to 2020 and from 2020 to 2021. |
Segment ROA: National Group
HCA Healthcare Inc.; National Group; segment ROA calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Adjusted segment EBITDA | 7,200) | 5,532) | 5,634) | 4,980) | 4,600) |
| Assets | 21,205) | 18,913) | 18,290) | 14,839) | 13,097) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 33.95% | 29.25% | 30.80% | 33.56% | 35.12% |
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
Segment ROA = 100 × Adjusted segment EBITDA ÷ Assets
= 100 × 7,200 ÷ 21,205 = 33.95%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | National Group | National Group segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment ROA: American Group
HCA Healthcare Inc.; American Group; segment ROA calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Adjusted segment EBITDA | 6,156) | 5,333) | 4,904) | 4,593) | 4,231) |
| Assets | 21,428) | 20,760) | 20,608) | 19,122) | 18,136) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 28.73% | 25.69% | 23.80% | 24.02% | 23.33% |
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
Segment ROA = 100 × Adjusted segment EBITDA ÷ Assets
= 100 × 6,156 ÷ 21,428 = 28.73%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | American Group | American Group segment ROA improved from 2019 to 2020 and from 2020 to 2021. |
Segment Asset Turnover
HCA Healthcare Inc., asset turnover by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| National Group | 1.41 | 1.36 | 1.42 | 1.52 | 1.59 |
| American Group | 1.22 | 1.14 | 1.12 | 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).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | National Group | National Group segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
| American Group | American Group segment asset turnover ratio improved from 2019 to 2020 and from 2020 to 2021. |
Segment Asset Turnover: National Group
HCA Healthcare Inc.; National Group; segment asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 29,826) | 25,694) | 25,913) | 22,581) | 20,772) |
| Assets | 21,205) | 18,913) | 18,290) | 14,839) | 13,097) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.41 | 1.36 | 1.42 | 1.52 | 1.59 |
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
Segment asset turnover = Revenues ÷ Assets
= 29,826 ÷ 21,205 = 1.41
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | National Group | National Group segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Segment Asset Turnover: American Group
HCA Healthcare Inc.; American Group; segment asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 26,152) | 23,593) | 23,173) | 21,959) | 20,912) |
| Assets | 21,428) | 20,760) | 20,608) | 19,122) | 18,136) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.22 | 1.14 | 1.12 | 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
Segment asset turnover = Revenues ÷ Assets
= 26,152 ÷ 21,428 = 1.22
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | American Group | American Group segment asset turnover ratio improved from 2019 to 2020 and from 2020 to 2021. |
Revenues
HCA Healthcare Inc., revenues by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| National Group | 29,826) | 25,694) | 25,913) | 22,581) | 20,772) |
| American Group | 26,152) | 23,593) | 23,173) | 21,959) | 20,912) |
| Corporate and other | 2,774) | 2,246) | 2,250) | 2,137) | 1,930) |
| Total | 58,752) | 51,533) | 51,336) | 46,677) | 43,614) |
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 segment EBITDA
HCA Healthcare Inc., adjusted segment ebitda by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| National Group | 7,200) | 5,532) | 5,634) | 4,980) | 4,600) |
| American Group | 6,156) | 5,333) | 4,904) | 4,593) | 4,231) |
| Corporate and other | (712) | (828) | (681) | (624) | (598) |
| Total | 12,644) | 10,037) | 9,857) | 8,949) | 8,233) |
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).
Assets
HCA Healthcare Inc., assets by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| National Group | 21,205) | 18,913) | 18,290) | 14,839) | 13,097) |
| American Group | 21,428) | 20,760) | 20,608) | 19,122) | 18,136) |
| Corporate and other | 8,109) | 7,817) | 6,160) | 5,246) | 5,360) |
| Total | 50,742) | 47,490) | 45,058) | 39,207) | 36,593) |
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).