HCA Healthcare (HCA) Stock Analysis

November 11, 2026

This is a peer-relative look at HCA Healthcare (HCA): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Health Care Equipment & Services peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for HCA Healthcare (HCA)
Profile Item	HCA
Name	HCA Healthcare, Inc.
Country/Region	United States
GICS Sector	Health Care
GICS Industry Group	Health Care Equipment & Services
GICS Industry	Health Care Providers & Services
GICS Sub-Industry	Health Care Facilities
Market Capitalization	103.40 billion USD
Currency	USD
Exchange	NYSE
Listing Date	March 10, 2011
Security Type	Common Stock

Price Performance

Cumulative Growth

HCA

GSPC

HCA Healthcare (HCA) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for HCA Healthcare (HCA) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for HCA Healthcare (HCA) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

HCA Healthcare (HCA) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: HCA	Industry group median
Total Return (1Y)	6.56%	21.53%
Total Return (3Y, Annualized)	31.39%	9.81%
Total Return (5Y, Annualized)	16.40%	-2.76%

Risk Profile

Drawdown History

HCA

GSPC

HCA Healthcare (HCA) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for HCA Healthcare (HCA) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

HCA Healthcare (HCA) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: HCA	Industry group median
Volatility (1Y, Annualized)	32.89%	50.93%
Beta (5Y)	1.07	0.85
Max Drawdown (5Y)	-39.49%	-70.34%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. HCA is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

HCA Healthcare (HCA) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: HCA	Industry group median
Sharpe Ratio (1Y)	0.07	0.34
Sortino Ratio (1Y)	0.11	0.54

Profitability

ROE (TTM)

No usable ROE is available for HCA Healthcare (HCA) this period, so the shareholder-equity return read is skipped.

HCA

Health Care Equipment & Services industry group

Group distribution

Max: 47.61%
Q3: 14.36%
Median: 5.45%
Q1: -10.67%
Min: -47.01%
HCA: --

Largest peers

ISRG: 17.93%
SYK: 16.02%
UNH: 15.77%
MDT: 10.65%
ABT: 9.14%
HCA: --
MCK: --

HCA Healthcare (HCA) doesn’t report ROE this period; the box shows the Health Care Equipment & Services group’s distribution and the dots its largest members.

Net Margin (TTM)

HCA Healthcare (HCA) keeps 8.61% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

HCA

Health Care Equipment & Services industry group

8.61%

Group distribution

Max: 29.35%
Q3: 9.33%
HCA: 8.61%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

Largest peers

ISRG: 25.54%
MDT: 13.93%
SYK: 13.78%
ABT: 9.75%
HCA: 8.61%
UNH: 3.53%
MCK: 1.12%

Where HCA Healthcare (HCA) stands on net margin within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

HCA Healthcare (HCA) turns 14.83% of revenue into operating profit, putting operating margin in the upper peer quartile. Before financing and taxes enter the picture, the day-to-day business keeps more of each sales dollar than most industry peers.

HCA

Health Care Equipment & Services industry group

14.83%

Group distribution

Max: 35.43%
HCA: 14.83%
Q3: 14.14%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

Largest peers

ISRG: 33.29%
SYK: 22.96%
MDT: 19.33%
HCA: 14.83%
ABT: 11.66%
UNH: 5.82%
MCK: 1.48%

Where HCA Healthcare (HCA) stands on operating margin within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

HCA Healthcare (HCA) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: HCA	Industry group median
ROE (TTM)	--	5.45%
ROA (TTM)	12.23%	3.17%
Net Margin (TTM)	8.61%	2.18%
Operating Margin (TTM)	14.83%	6.81%
Gross Margin (TTM)	42.76%	55.21%

Growth

Revenue Growth

HCA Healthcare (HCA) grew revenue 7.08%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

HCA Healthcare (HCA): Revenue Growth across different time periods, set against Health Care Equipment & Services industry-group medians.

EPS Growth

HCA Healthcare (HCA) grew earnings per share 28.77%, in the upper peer quartile. Per-share profits are compounding faster than at most industry peers.

HCA Healthcare (HCA): EPS Growth across different time periods, set against Health Care Equipment & Services industry-group medians.

Growth Metrics

HCA Healthcare (HCA) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: HCA	Industry group median
Revenue Growth (YoY)	7.08%	11.55%
Revenue Growth (3Y CAGR)	7.87%	10.83%
EPS Growth (YoY)	28.77%	4.88%
EPS Growth (3Y CAGR)	13.94%	14.59%

Financial Strength

Current Ratio (MRQ)

HCA Healthcare (HCA) has current ratio of 0.82, in the tighter-liquidity quartile for its industry. The short-term cushion is thinner than most peers carry, even if the absolute comfort level still depends on the business model.

HCA

Health Care Equipment & Services industry group

0.82

Group distribution

Max: 7.59
Q3: 4.00
Median: 1.98
Q1: 1.37
HCA: 0.82
Min: 0.30

Largest peers

ISRG: 3.33
SYK: 2.18
MDT: 2.07
ABT: 1.46
MCK: 0.90
HCA: 0.82
UNH: 0.74

Where HCA Healthcare (HCA) stands on current ratio within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

No usable debt-to-equity ratio is available for HCA Healthcare (HCA) this period, so the balance-sheet leverage read is skipped.

HCA

Health Care Equipment & Services industry group

Group distribution

Max: 1.88
Q3: 0.91
Median: 0.58
Q1: 0.16
Min: 0.00
HCA: --

Largest peers

UNH: 0.70
SYK: 0.66
ABT: 0.61
MDT: 0.55
HCA: --
ISRG: --
MCK: --

HCA Healthcare (HCA) doesn’t report debt-to-equity ratio this period; the box shows the Health Care Equipment & Services group’s distribution and the dots its largest members.

Financial Strength Metrics

HCA Healthcare (HCA) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: HCA	Industry group median
Current Ratio (MRQ)	0.82	1.98
Debt / Equity (MRQ)	--	0.58
Net Debt / EBITDA	3.26	2.04

Dividends

Dividend Yield (TTM)

HCA Healthcare (HCA) has dividend yield of 0.60%, above the entire industry range. That headline income is large, but yields this far above peers often come from a falling share price or an at-risk payout, so dividend safety matters more than the percentage itself.

HCA

Health Care Equipment & Services industry group

0.60%

Group distribution

HCA: 0.60%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

MDT: 2.72%
UNH: 2.29%
ABT: 2.22%
SYK: 1.05%
HCA: 0.60%
MCK: 0.32%
ISRG: 0.00%

Where HCA Healthcare (HCA) stands on dividend yield within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

HCA Healthcare (HCA) has payout ratio of 10.15%, above the peer distribution for its industry. The dividend consumes more reported earnings than peers normally do, leaving unusually thin earnings cover.

HCA

Health Care Equipment & Services industry group

10.15%

Group distribution

HCA: 10.15%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

ABT: 92.54%
MDT: 70.02%
UNH: 51.71%
SYK: 37.49%
HCA: 10.15%
MCK: 8.77%
ISRG: 0.00%

Where HCA Healthcare (HCA) stands on payout ratio within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

HCA Healthcare (HCA) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: HCA	Industry group median
Dividend Yield (TTM)	0.60%	0.00%
Dividend Payout Ratio (TTM)	10.15%	0.00%

Valuation

P/E Ratio (TTM)

HCA Healthcare (HCA) trades at P/E ratio of 16.42, in the cheaper earnings-multiple quartile for its industry. Investors are paying less for each dollar of TTM earnings than they usually pay for comparable businesses.

HCA

Health Care Equipment & Services industry group

16.42

Group distribution

Max: 80.41
Q3: 47.62
Median: 29.93
Q1: 21.19
HCA: 16.42
Min: 4.21

Largest peers

ISRG: 54.75
ABT: 41.02
SYK: 34.70
MCK: 27.36
MDT: 25.01
UNH: 22.50
HCA: 16.42

Where HCA Healthcare (HCA) stands on P/E ratio within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

HCA Healthcare (HCA) trades at 1.31 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.

HCA

Health Care Equipment & Services industry group

1.31

Group distribution

Max: 8.80
Q3: 4.32
Median: 2.13
HCA: 1.31
Q1: 1.10
Min: 0.03

Largest peers

ISRG: 13.82
SYK: 4.72
ABT: 3.95
MDT: 3.47
HCA: 1.31
UNH: 0.78
MCK: 0.29

Where HCA Healthcare (HCA) stands on P/S ratio within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

HCA Healthcare (HCA) has negative P/B ratio of -12.92, which means reported book equity is negative. Price-to-book breaks down in this situation and should not be used as a valuation signal.

HCA

Health Care Equipment & Services industry group

-12.92

Group distribution

Max: 11.68
Q3: 6.12
Median: 3.00
Q1: 1.73
Min: -1.31
HCA: -12.92

Largest peers

ISRG: 9.82
SYK: 5.29
ABT: 3.73
UNH: 3.60
MDT: 2.59
HCA: -12.92
MCK: -30.85

Where HCA Healthcare (HCA) stands on P/B ratio within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

HCA Healthcare (HCA) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: HCA	Industry group median
P/E Ratio (TTM)	16.42	29.93
P/S Ratio (TTM)	1.31	2.13
P/B Ratio (MRQ)	-12.92	3.00
Free Cash Flow Yield (TTM)	3.81%	3.50%