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 Short-term (Operating) Activity Ratios 
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

HCA Healthcare Inc., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Turnover Ratios
Inventory turnover 4.78 4.77 4.67 4.49 4.10 4.13 4.22 4.47 4.38 4.59 4.66 4.41 4.42 4.46 4.69 4.62 4.43 4.65
Receivables turnover 7.01 7.26 6.88 7.34 7.09 7.31 7.89 8.17 7.50 6.96 7.02 6.77 6.44 6.88 7.04 6.86 7.01 6.71
Payables turnover 2.39 2.31 2.51 2.58 2.40 2.37 2.52 2.84 3.11 2.92 3.16 3.09 2.91 3.00 3.18 3.08 2.93 2.81
Working capital turnover 13.31 14.84 16.00 14.51 15.51 14.20 26.90 42.68 12.93 14.93 13.74 12.50 82.79 17.65 12.16 16.33 15.25 11.42
Average No. Days
Average inventory processing period 76 76 78 81 89 88 86 82 83 80 78 83 83 82 78 79 82 78
Add: Average receivable collection period 52 50 53 50 51 50 46 45 49 52 52 54 57 53 52 53 52 54
Operating cycle 128 126 131 131 140 138 132 127 132 132 130 137 140 135 130 132 134 132
Less: Average payables payment period 153 158 145 142 152 154 145 128 117 125 115 118 125 122 115 119 125 130
Cash conversion cycle -25 -32 -14 -11 -12 -16 -13 -1 15 7 15 19 15 13 15 13 9 2

Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. HCA Healthcare Inc. inventory turnover ratio improved from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022.
Receivables turnover An activity ratio equal to revenue divided by receivables. HCA Healthcare Inc. receivables turnover ratio improved from Q3 2021 to Q4 2021 but then slightly deteriorated from Q4 2021 to Q1 2022 not reaching Q3 2021 level.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. HCA Healthcare Inc. payables turnover ratio decreased from Q3 2021 to Q4 2021 but then slightly increased from Q4 2021 to Q1 2022.
Working capital turnover An activity ratio calculated as revenue divided by working capital. HCA Healthcare Inc. working capital turnover ratio deteriorated from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. HCA Healthcare Inc. number of days of receivables outstanding improved from Q3 2021 to Q4 2021 but then slightly deteriorated from Q4 2021 to Q1 2022 not reaching Q3 2021 level.
Operating cycle Equal to average inventory processing period plus average receivables collection period. HCA Healthcare Inc. operating cycle improved from Q3 2021 to Q4 2021 but then slightly deteriorated from Q4 2021 to Q1 2022.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. HCA Healthcare Inc. number of days of payables outstanding increased from Q3 2021 to Q4 2021 but then slightly decreased from Q4 2021 to Q1 2022.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. HCA Healthcare Inc. cash conversion cycle improved from Q3 2021 to Q4 2021 but then slightly deteriorated from Q4 2021 to Q1 2022.

Inventory Turnover

HCA Healthcare Inc., inventory turnover calculation (quarterly data)

Microsoft Excel
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in millions)
Supplies 2,321 2,414 2,463 2,380 2,224 2,370 2,128 1,748 2,123 2,232 2,090 2,118 2,041 2,002 1,890 1,917 1,915 1,947 1,777 1,795 1,797
Inventories 2,003 1,986 2,019 2,027 2,068 2,025 1,950 1,834 1,953 1,849 1,769 1,826 1,778 1,732 1,634 1,636 1,677 1,573 1,546 1,544 1,501
Short-term Activity Ratio
Inventory turnover1 4.78 4.77 4.67 4.49 4.10 4.13 4.22 4.47 4.38 4.59 4.66 4.41 4.42 4.46 4.69 4.62 4.43 4.65
Benchmarks
Inventory Turnover, Competitors2
Abbott Laboratories 3.36 3.59 3.47 3.27 2.99 2.99 2.71 2.56 2.92 3.07
Cigna Group 34.32 31.58 37.54 36.13 36.50 32.70 37.84 36.30 38.13 36.70
CVS Health Corp. 13.60 13.52 13.49 13.48 12.57 11.88 12.43 13.03 12.68 12.06
Intuitive Surgical Inc. 2.82 2.98 2.90 2.84 2.64 2.49 2.18 2.22 2.30 2.30
Medtronic PLC 2.47 2.43 2.24 2.20 2.10 2.23 2.34 2.35 2.37 2.44

Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q1 2022 Calculation
Inventory turnover = (SuppliesQ1 2022 + SuppliesQ4 2021 + SuppliesQ3 2021 + SuppliesQ2 2021) ÷ Inventories
= (2,321 + 2,414 + 2,463 + 2,380) ÷ 2,003 = 4.78

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. HCA Healthcare Inc. inventory turnover ratio improved from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022.

Receivables Turnover

HCA Healthcare Inc., receivables turnover calculation (quarterly data)

Microsoft Excel
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in millions)
Revenues 14,945 15,064 15,276 14,435 13,977 14,293 13,311 11,068 12,861 13,523 12,694 12,602 12,517 12,274 11,451 11,529 11,423 11,562 10,696 10,733 10,623
Accounts receivable 8,520 8,095 8,433 7,636 7,424 7,051 6,433 6,139 6,890 7,380 7,131 7,219 7,420 6,789 6,532 6,592 6,332 6,501 5,980 5,782 5,664
Short-term Activity Ratio
Receivables turnover1 7.01 7.26 6.88 7.34 7.09 7.31 7.89 8.17 7.50 6.96 7.02 6.77 6.44 6.88 7.04 6.86 7.01 6.71
Benchmarks
Receivables Turnover, Competitors2
Abbott Laboratories 6.20 6.64 6.61 6.58 6.13 5.40 5.70 6.12 6.06 5.88
CVS Health Corp. 11.30 11.91 11.23 11.48 11.32 12.32 11.14 11.68 11.33 13.04
Elevance Health Inc. 16.67 20.66 18.93 18.81 17.39 19.72 18.91 18.04 16.74 18.20
Humana Inc. 27.18 45.69 42.91 32.51 35.43 66.78 64.58 31.30 33.43 60.97
Intuitive Surgical Inc. 6.52 7.30 7.90 7.38 6.96 6.75 7.32 8.56 8.73 6.94
Medtronic PLC 5.82 5.51 5.35 5.21 5.73 6.22 4.97 5.05 5.20 4.91
UnitedHealth Group Inc. 15.65 20.07 19.60 18.53 16.35 19.86 20.63 19.62 16.73 20.32

Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q1 2022 Calculation
Receivables turnover = (RevenuesQ1 2022 + RevenuesQ4 2021 + RevenuesQ3 2021 + RevenuesQ2 2021) ÷ Accounts receivable
= (14,945 + 15,064 + 15,276 + 14,435) ÷ 8,520 = 7.01

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. HCA Healthcare Inc. receivables turnover ratio improved from Q3 2021 to Q4 2021 but then slightly deteriorated from Q4 2021 to Q1 2022 not reaching Q3 2021 level.

Payables Turnover

HCA Healthcare Inc., payables turnover calculation (quarterly data)

Microsoft Excel
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in millions)
Supplies 2,321 2,414 2,463 2,380 2,224 2,370 2,128 1,748 2,123 2,232 2,090 2,118 2,041 2,002 1,890 1,917 1,915 1,947 1,777 1,795 1,797
Accounts payable 4,010 4,111 3,759 3,531 3,524 3,535 3,270 2,882 2,750 2,905 2,610 2,609 2,693 2,577 2,414 2,457 2,538 2,606 2,314 2,245 2,233
Short-term Activity Ratio
Payables turnover1 2.39 2.31 2.51 2.58 2.40 2.37 2.52 2.84 3.11 2.92 3.16 3.09 2.91 3.00 3.18 3.08 2.93 2.81
Benchmarks
Payables Turnover, Competitors2
Abbott Laboratories 4.02 4.21 4.55 4.43 3.97 3.80 4.37 4.00 4.20 4.07
Cigna Group 7.89 7.68 7.71 7.60 7.74 7.75 8.02 8.30 9.06 9.34
CVS Health Corp. 19.38 19.14 18.49 20.72 20.50 19.72 18.61 21.70 21.06 20.13
Elevance Health Inc. 7.28 7.59 7.31 7.30 7.31 7.75 8.32 8.42 8.48 9.25
Humana Inc. 7.63 8.35 7.76 7.81 7.32 7.57 7.20 7.12 7.90 8.97
Intuitive Surgical Inc. 14.36 14.45 14.13 13.71 14.80 18.35 12.46 13.18 10.69 11.08
Medtronic PLC 5.67 4.98 5.56 5.19 5.56 4.72 4.96 4.84 4.89 4.69
UnitedHealth Group Inc. 6.78 7.63 6.98 6.97 6.58 7.29 7.40 8.02 6.96 7.21

Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q1 2022 Calculation
Payables turnover = (SuppliesQ1 2022 + SuppliesQ4 2021 + SuppliesQ3 2021 + SuppliesQ2 2021) ÷ Accounts payable
= (2,321 + 2,414 + 2,463 + 2,380) ÷ 4,010 = 2.39

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. HCA Healthcare Inc. payables turnover ratio decreased from Q3 2021 to Q4 2021 but then slightly increased from Q4 2021 to Q1 2022.

Working Capital Turnover

HCA Healthcare Inc., working capital turnover calculation (quarterly data)

Microsoft Excel
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in millions)
Current assets 15,006 13,542 13,248 12,475 12,036 12,333 16,266 14,031 11,016 11,196 10,769 12,869 11,108 10,213 10,010 10,394 10,391 9,977 9,448 9,337 9,037
Less: Current liabilities 10,518 9,582 9,624 8,615 8,642 8,704 14,379 12,856 7,019 7,757 7,124 8,961 10,531 7,569 6,231 7,625 7,478 6,158 5,611 5,771 5,463
Working capital 4,488 3,960 3,624 3,860 3,394 3,629 1,887 1,175 3,997 3,439 3,645 3,908 577 2,644 3,779 2,769 2,913 3,819 3,837 3,566 3,574
 
Revenues 14,945 15,064 15,276 14,435 13,977 14,293 13,311 11,068 12,861 13,523 12,694 12,602 12,517 12,274 11,451 11,529 11,423 11,562 10,696 10,733 10,623
Short-term Activity Ratio
Working capital turnover1 13.31 14.84 16.00 14.51 15.51 14.20 26.90 42.68 12.93 14.93 13.74 12.50 82.79 17.65 12.16 16.33 15.25 11.42
Benchmarks
Working Capital Turnover, Competitors2
Abbott Laboratories 4.13 3.87 3.98 4.02 3.99 4.06 4.52 5.02 6.84 6.64
Cigna Group
CVS Health Corp.
Elevance Health Inc. 8.65 7.23 6.79 6.67 5.38 6.39 5.98 5.40 6.81 6.11
Humana Inc. 9.27 8.67 7.47 7.38 7.61 7.42 6.04 6.14 6.91 7.19
Intuitive Surgical Inc. 1.26 1.22 1.17 1.03 0.88 0.77 0.80 0.88 1.23 1.23
Medtronic PLC 2.15 2.15 2.02 2.00 2.44 2.48 2.03 2.13 2.16 2.26
UnitedHealth Group Inc.

Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q1 2022 Calculation
Working capital turnover = (RevenuesQ1 2022 + RevenuesQ4 2021 + RevenuesQ3 2021 + RevenuesQ2 2021) ÷ Working capital
= (14,945 + 15,064 + 15,276 + 14,435) ÷ 4,488 = 13.31

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. HCA Healthcare Inc. working capital turnover ratio deteriorated from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022.

Average Inventory Processing Period

HCA Healthcare Inc., average inventory processing period calculation (quarterly data)

Microsoft Excel
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Inventory turnover 4.78 4.77 4.67 4.49 4.10 4.13 4.22 4.47 4.38 4.59 4.66 4.41 4.42 4.46 4.69 4.62 4.43 4.65
Short-term Activity Ratio (no. days)
Average inventory processing period1 76 76 78 81 89 88 86 82 83 80 78 83 83 82 78 79 82 78
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Abbott Laboratories 109 102 105 111 122 122 135 142 125 119
Cigna Group 11 12 10 10 10 11 10 10 10 10
CVS Health Corp. 27 27 27 27 29 31 29 28 29 30
Intuitive Surgical Inc. 130 122 126 129 138 147 167 164 159 159
Medtronic PLC 148 150 163 166 174 164 156 155 154 150

Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q1 2022 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 4.78 = 76

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.

Average Receivable Collection Period

HCA Healthcare Inc., average receivable collection period calculation (quarterly data)

Microsoft Excel
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Receivables turnover 7.01 7.26 6.88 7.34 7.09 7.31 7.89 8.17 7.50 6.96 7.02 6.77 6.44 6.88 7.04 6.86 7.01 6.71
Short-term Activity Ratio (no. days)
Average receivable collection period1 52 50 53 50 51 50 46 45 49 52 52 54 57 53 52 53 52 54
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Abbott Laboratories 59 55 55 55 60 68 64 60 60 62
CVS Health Corp. 32 31 32 32 32 30 33 31 32 28
Elevance Health Inc. 22 18 19 19 21 19 19 20 22 20
Humana Inc. 13 8 9 11 10 5 6 12 11 6
Intuitive Surgical Inc. 56 50 46 49 52 54 50 43 42 53
Medtronic PLC 63 66 68 70 64 59 73 72 70 74
UnitedHealth Group Inc. 23 18 19 20 22 18 18 19 22 18

Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q1 2022 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 7.01 = 52

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. HCA Healthcare Inc. number of days of receivables outstanding improved from Q3 2021 to Q4 2021 but then slightly deteriorated from Q4 2021 to Q1 2022 not reaching Q3 2021 level.

Operating Cycle

HCA Healthcare Inc., operating cycle calculation (quarterly data)

No. days

Microsoft Excel
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Average inventory processing period 76 76 78 81 89 88 86 82 83 80 78 83 83 82 78 79 82 78
Average receivable collection period 52 50 53 50 51 50 46 45 49 52 52 54 57 53 52 53 52 54
Short-term Activity Ratio
Operating cycle1 128 126 131 131 140 138 132 127 132 132 130 137 140 135 130 132 134 132
Benchmarks
Operating Cycle, Competitors2
Abbott Laboratories 168 157 160 166 182 190 199 202 185 181
CVS Health Corp. 59 58 59 59 61 61 62 59 61 58
Intuitive Surgical Inc. 186 172 172 178 190 201 217 207 201 212
Medtronic PLC 211 216 231 236 238 223 229 227 224 224

Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q1 2022 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 76 + 52 = 128

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. HCA Healthcare Inc. operating cycle improved from Q3 2021 to Q4 2021 but then slightly deteriorated from Q4 2021 to Q1 2022.

Average Payables Payment Period

HCA Healthcare Inc., average payables payment period calculation (quarterly data)

Microsoft Excel
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Payables turnover 2.39 2.31 2.51 2.58 2.40 2.37 2.52 2.84 3.11 2.92 3.16 3.09 2.91 3.00 3.18 3.08 2.93 2.81
Short-term Activity Ratio (no. days)
Average payables payment period1 153 158 145 142 152 154 145 128 117 125 115 118 125 122 115 119 125 130
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Abbott Laboratories 91 87 80 82 92 96 83 91 87 90
Cigna Group 46 48 47 48 47 47 46 44 40 39
CVS Health Corp. 19 19 20 18 18 19 20 17 17 18
Elevance Health Inc. 50 48 50 50 50 47 44 43 43 39
Humana Inc. 48 44 47 47 50 48 51 51 46 41
Intuitive Surgical Inc. 25 25 26 27 25 20 29 28 34 33
Medtronic PLC 64 73 66 70 66 77 74 75 75 78
UnitedHealth Group Inc. 54 48 52 52 56 50 49 46 52 51

Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q1 2022 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 2.39 = 153

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. HCA Healthcare Inc. number of days of payables outstanding increased from Q3 2021 to Q4 2021 but then slightly decreased from Q4 2021 to Q1 2022.

Cash Conversion Cycle

HCA Healthcare Inc., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Average inventory processing period 76 76 78 81 89 88 86 82 83 80 78 83 83 82 78 79 82 78
Average receivable collection period 52 50 53 50 51 50 46 45 49 52 52 54 57 53 52 53 52 54
Average payables payment period 153 158 145 142 152 154 145 128 117 125 115 118 125 122 115 119 125 130
Short-term Activity Ratio
Cash conversion cycle1 -25 -32 -14 -11 -12 -16 -13 -1 15 7 15 19 15 13 15 13 9 2
Benchmarks
Cash Conversion Cycle, Competitors2
Abbott Laboratories 77 70 80 84 90 94 116 111 98 91
CVS Health Corp. 40 39 39 41 43 42 42 42 44 40
Intuitive Surgical Inc. 161 147 146 151 165 181 188 179 167 179
Medtronic PLC 147 143 165 166 172 146 155 152 149 146

Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q1 2022 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 76 + 52153 = -25

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. HCA Healthcare Inc. cash conversion cycle improved from Q3 2021 to Q4 2021 but then slightly deteriorated from Q4 2021 to Q1 2022.