HCA HealthcareHCAEarnings & Financial Report
HCA Healthcare, Inc. is an American global for-profit operator of health care facilities that was founded in 1968. It is based in Nashville, Tennessee, and, as of May 2020, owned and operated 186 hospitals and approximately 2,400 sites of care, including surgery centers, freestanding emergency rooms, urgent care centers and physician clinics in 20 states and the United Kingdom.
Revenue
$18.6B
Gross Profit
N/A
Operating Profit
$2.4B
Net Profit
$1.7B
Gross Margin
N/A
Operating Margin
13.0%
Net Margin
8.9%
YoY Growth
6.4%
EPS
$6.83
HCA Healthcare Q2 FY2025 Financial Summary
HCA Healthcare reported revenue of $18.6B (up 6.4% YoY) for Q2 FY2025, with a net profit of $1.7B (up 13.1% YoY) (8.9% margin).
Key Financial Metrics
| Total Revenue | $18.6B |
|---|---|
| Net Profit | $1.7B |
| Gross Margin | N/A |
| Operating Margin | 13.0% |
| Report Period | Q2 FY2025 |
Revenue Breakdown
HCA Healthcare Q2 FY2025 revenue of $18.6B breaks down across 6 segments, led by Managed Care And Other Insurers at $9.1B (49.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Managed Care And Other Insurers | $9.1B | 49.0% |
| Managed Medicare | $3.4B | 18.0% |
| Medicare | $2.8B | 15.1% |
| Medicaid | $1.4B | 7.7% |
| Managed Medicaid | $899.0M | 4.8% |
| Other | $461.0M | 2.5% |
HCA Healthcare Revenue by Segment — Quarterly Trend
HCA Healthcare revenue by segment across the last 4 reported quarters, showing how each business line (such as Managed Care And Other Insurers and Managed Medicare) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Managed Care And Other Insurers | — | $9.5B | $9.3B | $9.1B |
| Managed Medicare | — | $3.5B | $3.3B | $3.4B |
| Medicare | — | $2.8B | $2.7B | $2.8B |
| Medicaid | — | $1.5B | $1.8B | $1.4B |
| Managed Medicaid | — | $966.0M | $949.0M | $899.0M |
HCA Healthcare Annual Revenue by Year
HCA Healthcare annual revenue history includes year-by-year totals (for example, 2025 revenue was $75.6B).
| Year | Annual Revenue |
|---|---|
| 2025 | $75.6B |
| 2024 | $70.6B |
| 2023 | $65.0B |
| 2022 | $60.2B |
HCA Healthcare Quarterly Revenue & Net Profit History
HCA Healthcare results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $19.1B | +4.3% | $1.9B | 9.7% |
| Q4 FY2025 | $19.5B | +6.7% | $1.9B | 9.6% |
| Q3 FY2025 | $19.2B | +9.6% | $1.6B | 8.6% |
| Q2 FY2025 | $18.6B | +6.4% | $1.7B | 8.9% |
| Q1 FY2025 | $18.3B | +5.7% | $1.6B | 8.8% |
| Q4 FY2024 | $18.3B | +5.7% | $1.4B | 7.9% |
| Q3 FY2024 | $17.5B | +7.9% | $1.3B | 7.3% |
| Q2 FY2024 | $17.5B | +10.3% | $1.5B | 8.4% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $17.49B | $17.49B | $18.29B | $18.32B | $18.61B | $19.16B | $19.51B | $19.11B |
| YoY Growth | 10.3% | 7.9% | 5.7% | 5.7% | 6.4% | 9.6% | 6.7% | 4.3% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $57.38B | $59.46B | $59.51B | $59.80B | $59.54B | $59.75B | $60.72B | $19.26B |
| Liabilities | $58.98B | $61.64B | $62.01B | $63.32B | $63.93B | $65.08B | $66.75B | N/A |
| Equity | $-1.60B | $-2.18B | $-2.50B | $-3.52B | $-4.39B | $-5.33B | $-6.03B | N/A |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $1.97B | $3.52B | $2.56B | $1.65B | $4.21B | $4.42B | $2.36B | $2.01B |