Company Dossier · Health Care
HCA Healthcare
- S&P 500
- Russell 1000
What HCA Healthcare is doing, read from its filings, its own words and the news, with every figure dated and sourced. Not investment advice: no ratings, no price targets.
Open the full company record in Palanor: guidance, KPIs, ownership, calls, prices →
The latest read
Computed from the data on Oct 22, 2026. Every figure links back to its source in the sections below.
- Revenue over the four quarters to March 31, 2026: $76.4 billion, up 6.7% from a year earlier.SEC EDGAR filings (XBRL)
- Free cash flow (operating cash flow minus capital expenditure) over the four quarters to March 31, 2026: $7.93 billion, up 60% from a year earlier.SEC EDGAR filings (XBRL)
- Capital expenditure over the four quarters to March 31, 2026: $5.07 billion, up 6.7% from a year earlier.SEC EDGAR filings (XBRL)
- Share buybacks in the fiscal year to December 31, 2025: $10.1 billion.SEC EDGAR filings (10-K)
- Long-term debt issued in the fiscal year to December 31, 2025: $8.47 billion.SEC EDGAR filings (10-K)
- Latest earnings call or results release (July 24, 2026): sentiment -0.30 on a −1 to +1 scale (negative), confidence 0.60 of 1.Palanor Discourse
- Guidance in the last 90 days: 0 outlook figures raised, 2 lowered, 3 held.Guidance Ledger (8-K results releases)
- Latest annual report (filed February 10, 2026): 1 risk factor added, 1 removed.Risk Factor Changes (10-K Item 1A)
- Insiders were net sellers in Q1 2026: $29.3 million on the open market.SEC Form 4
- 1,344 institutional managers reported a position at June 30, 2026 (−82 on the quarter before).SEC Form 13F
- H-1B filings certified in Q2 2026: 82 (97 a year earlier).U.S. Department of Labor (OFLC)
Company Posture
How Company Posture is measured →What HCA Healthcare is doing, on three axes, from its filings and its own words, as of 2026-10-22. A description, not a rating: Company Posture never says whether to buy.
Expanding ↔ Retrenching
Withheld: 50% of the evidence is readable at this date (needs 60%).
- Capital spending—
- Debt raised—
- Buybacks vs capex—
- Hiring filings43rd pct
- Deals and private raises49th pct
- Patent publications71st pct
Confident ↔ Hedging
Hedging
- Call sentiment4th pct
- Call confidence14th pct
- Guidance changes4th pct
- Risk factors added42nd pct
- Insider open-market trades—
- − Guidance changes
- − Call sentiment
- − Call confidence
Pressure
Components only: Not yet shown as a score: in the back-test it did not add to a naive reader's forecast of impairment, debt acceleration or bankruptcy filings (8-K 2.06, 2.04, 1.03) (not enough events (17 in half 1; needs 20)).
- Fails-to-deliver43rd pct
- Stress filings48th pct
Credit
How these are built →HCA Healthcare's borrowing from its SEC filings: the bonds it priced and the debt on its latest balance sheet. A description, not a rating.
Debt on the balance sheet
$48.0B
- Due within a year $8.5B
- Longer term $39.5B
- Default point $28.3B (short + ½ long)
Finance leases included · Mar 31, 2026 filing
Bonds priced, last 12 months
$6.3B
U.S. dollar tranches with a term sheet on EDGAR. Deals sold under Rule 144A file none and are not counted.
| Priced | Amount | Coupon | Matures | Spread | Yield |
|---|---|---|---|---|---|
| Apr 27, 2026 | $750M | 4.700% | 2031 (5y) | +78bp | 4.732% |
| Apr 27, 2026 | $1B | 5.300% | 2036 (10y) | +100bp | 5.342% |
| Apr 27, 2026 | $1.25B | 5.000% | 2033 (7y) | +90bp | 5.037% |
| Oct 27, 2025 | $500M | 5.700% | 2055 (30y) | +115bp | 5.721% |
| Oct 27, 2025 | $1B | 4.300% | 2030 (5y) | +72bp | 4.334% |
| Oct 27, 2025 | $1B | 4.600% | 2032 (7y) | +85bp | 4.639% |
| Oct 27, 2025 | $750M | 4.900% | 2035 (10y) | +95bp | 4.945% |
| Feb 18, 2025 | $1.5B | 5.500% | 2032 (7y) | +103bp | 5.513% |
| Feb 18, 2025 | $1.25B | 5.750% | 2035 (10y) | +123bp | 5.782% |
| Feb 18, 2025 | $700M | 6.200% | 2055 (30y) | +148bp | 6.261% |
| Feb 18, 2025 | $300M | 5.000% | 2028 (3y) | +70bp | 5.024% |
| Feb 18, 2025 | $750M | — | 2028 (3y) | — | — |
From the pricing term sheets HCA Healthcare filed with the SEC. Spread is to the benchmark Treasury (or Bund, Gilt) at pricing.
Charts
Live charts: each one redraws from today’s data and has an image link to paste into a document or slide.
Cash flow
Capital returned and raised
What the company says
Hiring and ownership
In the news
Headlines that name HCA Healthcare, with the publisher and a link. The tone is read from each headline’s own words, never from a summary of the article.
- NeutralFTC Urges HCA Healthcare and Peers to Improve Pricing Transparency Amid Regulatory Scrutiny (HCA)
gurufocus.com · via Marketaux · Oct 5, 2026
Filings and records
The last two years of notable 8-Ks, offerings, annual reports, federal awards, lobbying reports, patents and other public records, newest first.
- Oct 20, 2026LobbyingLobbying report (JEFFREY J. KIMBELL & ASSOCIATES, INC.)third_quarter 2026
- Oct 20, 2026LobbyingLobbying report (THE SMITH-FREE GROUP, LLC)third_quarter 2026 · $0.1 million
- Oct 20, 2026LobbyingLobbying report (ALSTON & BIRD LLP)third_quarter 2026 · $0.1 million
- Oct 20, 2026LobbyingLobbying report (MEHLMAN CONSULTING, INC.)third_quarter 2026 · $0.1 million
- Oct 19, 2026LobbyingLobbying report (HCA HEALTHCARE, INC.)third_quarter 2026 · $0.8 million
- Oct 12, 2026LobbyingLobbying report (RUBIN, TURNBULL & ASSOCIATES)third_quarter 2026 · $0.1 million
- Oct 6, 2026Patent
- Sep 8, 2026Patent
- Jul 28, 2026Patent
- Jul 20, 2026LobbyingLobbying report (THE SMITH-FREE GROUP, LLC)second_quarter 2026 · $0.1 million
- Jul 20, 2026LobbyingLobbying report (ALSTON & BIRD LLP)second_quarter 2026 · $0.1 million
- Jun 18, 20268-KDirector or officer changeItem 5.02
- Jun 9, 2026Patent
- Apr 30, 20268-KMaterial agreement signedItem 1.01
- Apr 28, 20268-KShareholder vote resultsItem 5.07
- Apr 14, 2026Patent
- Feb 25, 20268-KDirector or officer changeItem 5.02
- Feb 10, 202610-KAnnual report (10-K)1 risk factors added, 1 removed
- Oct 31, 20258-KMaterial agreement signedItem 1.01
- Jul 11, 20258-KDirector or officer changeItem 5.02
- Apr 29, 20258-KDirector or officer changeItem 5.02
- Apr 29, 20258-KShareholder vote resultsItem 5.07
- Feb 24, 20258-KDirector or officer changeItem 5.02
- Feb 21, 20258-KMaterial agreement signedItem 1.01
- Feb 20, 20258-KMaterial agreement signedItem 1.01
- Feb 20, 20258-KMaterial agreement terminatedItem 1.02
- Feb 14, 202510-KAnnual report (10-K)1 risk factors added, 2 removed
- Feb 16, 202410-KAnnual report (10-K)1 risk factors added, 2 removed
Peers
Companies in the same industry in the S&P 500, Russell 1000 or MidCap 400, closest in revenue first. Trailing twelve months, from SEC filings.
| Company | Revenue | Free cash flow | Through |
|---|---|---|---|
| Tenet Healthcare THC | $21.8B | $3.0B | Jun 30, 2026 |
| Universal Health Services UHS | $18.1B | $0.8B | Jun 30, 2026 |
| Encompass Health EHC | $6.2B | $0.4B | Jun 30, 2026 |
| Eli Lilly and Company LLY | $79.7B | — | Jun 30, 2026 |
| Merck & Co. MRK | $66.6B | $16.1B | Jun 30, 2026 |
| AbbVie Inc. ABBV | $64.4B | $18.2B | Jun 30, 2026 |
| Pfizer Inc. PFE | $63.7B | $11.0B | Jun 28, 2026 |
| Johnson & Johnson JNJ | $97.9B | $22.2B | Jun 28, 2026 |