HCA Healthcare, Inc. (HCA) is a publicly traded company in the Healthcare — Medical - Care Facilities industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
HCA Healthcare, Inc., operating through its subsidiaries, delivers a comprehensive array of healthcare services throughout the United States. The organization manages a network of general and acute care hospitals that provide a full spectrum of medical and surgical care, encompassing inpatient services, intensive care, cardiac treatment, diagnostic procedures, and emergency services.
Is HCA Healthcare, Inc. stock overvalued or undervalued in 2026?
As of October 30, 2026, HCA Healthcare, Inc. (HCA) trades at $473.19; its P/E is under review because the one we calculate differs from the one the data provider reports, according to Kaplio. Verdict under review: we are checking its data because the P/E we calculate differs from the one the data provider reports, and the verdict will return once they match.
Kaplio overview: HCA Healthcare, Inc.
Market cap $102B · 52 weeks $361 – $545 (13 % below the high) · P/E under review · 2027 expected P/E 14.9× · Dividend 0.64 % · 5 years rising · Next earnings January 26, 2027 · expected EPS $8.16 · Closing price, Oct 30 · accounts published Oct 27.
- Valuation: P/E — (verdict under review).
- Business: ROIC 19 % (solid).
- Balance sheet: Net debt/EBITDA 3.2× (fragile).
- Earnings: 8 of 8 (on track).
What would it be worth at its usual multiples?
Verdict under review: we are checking its data because the P/E we calculate differs from the one the data provider reports, and the verdict will return once they match.
What matters in pharma: 3 of 6 pass
- R&D / Revenue 0.0 %, fails.
- Gross margin 41.5 %, fails.
- Net debt / EBITDA 3.2×, fails.
- 5y EPS growth 21.6 %, passes.
- FCF / Net Income 113.4 %, passes.
- ROIC 18.5 %, passes.
- P/E vs own 10y history 15.7×, info.
Against its peers (reference peers) — HCA Healthcare, Inc.: P/E 15.7×; EV/EBITDA 9.8×; ROIC 18.5 %; $102B. Tenet Healthcare Corporation (P/E 7.9×; EV/EBITDA 5.5×; ROIC 13.8 %; $22.0B), Universal Health Services, Inc. (P/E 7.4×; EV/EBITDA 5.4×; ROIC 10.4 %; $9.1B), PACS Group, Inc. (P/E 28.6×; EV/EBITDA 22.8×; ROIC 6.1 %; $7.6B).
Expensive or cheap against its last ten years?
P/E at each close: today 15.7× · median 14.5× · minimum 7.6× · maximum 24.3× · cheap below 12.3× · expensive above 19.1×. Earnings over the last 12 months are distorted: today's P/E compared with its history is not representative.
Dividend
solid · Yield 0.64 % ($2.94 per share in 2025) · Years raising it 5 · paying since 2018 · 5-year growth +46 % a year · Free cash flow coverage 9.0× · With $1,000 invested today you'd collect $6.40 a year ($0.53 a month).
Kaplio's reading: HCA Healthcare, Inc.
Updated on October 28, 2026 · accounts published on October 27, 2026
Reading of October 27, 2026: A highly profitable business with strong returns on capital and a heavy debt load
HCA Healthcare trades at a P/E of 15.1 over the last 12 months, 51 % below its sector median of 30.4 and close to its ten-year median of 14.6.
- Is HCA Healthcare expensive or cheap? At a P/E of 15.1, HCA Healthcare trades 51 % below its sector median and only 3 % above its own ten-year median.
- How is the business doing? Operating margin of 15.5 % over the last 12 months is above its 2014-2025 average of 14.9 %, with EPS up 29 %.
- How strong is the balance sheet? Net debt of $222.82 per share in fiscal 2025 equals half the share price and 3.2× EBITDA, above the 2.5× healthy mark.
- What to expect from the next earnings? Analysts expect EPS of $8.11 for the quarter reported on January 26, 2027, after eight straight beats.
- Does HCA Healthcare invest enough in R&D and turn profit into cash? Free cash flow was 113 % of net income in fiscal 2025, above the 90 % healthy mark, while R&D was 0.0 % of revenue.
Is HCA Healthcare expensive or cheap?
HCA Healthcare trades at a P/E of 15.1 over the last 12 months, against a sector median of 30.4 across 246 companies. Against its own history the picture is more neutral: the ten-year median is 14.6, and the stock has traded at a lower multiple 54 % of the time over the decade, in a range from 7.6 to 24.3. An EV/EBITDA of 9.4 and a free cash flow yield of 6.1 % point the same way. The share price is down 3 % over the last 12 months and sits 17 % below its 52-week high of $545.13, while EPS rose 29 %, so the multiple has compressed rather than expanded.
How is the business doing?
Revenue grew 7.1 % over the last 12 months while EPS rose 29.0 %, so profits are expanding much faster than sales. The operating margin of 15.5 % is above the 14.9 % average of fiscal 2014-2025, though slightly below the 15.8 % reached in fiscal 2025. Returns on capital are the strongest point: a ROIC of 19.4 % over the last 12 months is 13.6 points above the sector median of 5.8 %, and it has stayed above 10 % in each of the last 10 fiscal years. A net margin of 8.8 % and a Piotroski score of 7 out of 9 confirm a business in good operating shape.
How strong is the balance sheet?
Debt is the weak side of HCA Healthcare. Net debt reached $222.82 per share in fiscal 2025, equal to 50 % of the current share price, and 3.2× EBITDA, above the 2.5× that counts as healthy in healthcare. A current ratio of 0.78 over the last 12 months means short-term liabilities exceed short-term assets, and the Altman Z of 2.7 sits in the grey zone. An ROE of −112.9 % over the last 12 months is not a usable gauge here, which is why ROIC matters more. Shareholder payouts are modest: a 0.7 % dividend yield, a 10 % payout in fiscal 2025 and five consecutive years of dividend increases.
What to expect from the next earnings?
HCA Healthcare has beaten EPS estimates in each of the last 8 quarters. On October 27, 2026 it reported $7.22 against $6.65 expected, an 8.6 % surprise. The next results are due January 26, 2027, with consensus at $8.11 per share for the quarter. The full-year 2026 EPS estimate has barely moved in the last 30 days, from $29.47 to $29.50 among 14 analysts, and revenue estimates have held equally steady. Of the 46 analysts covering the company, 29 recommend buying, 15 holding and 2 selling, a clearly positive but not unanimous consensus.
Does HCA Healthcare invest enough in R&D and turn profit into cash?
Healthcare investors watch R&D because for drug makers the pipeline is the invisible asset and expiring patents are revenue that disappears. HCA Healthcare spent 0.0 % of revenue on R&D in fiscal 2025 against a healthy level of 15 %, and its 41.5 % gross margin is far from the 70 % typical of branded pharma, so its profits do not rest on a pipeline. The cash tests are where it scores: free cash flow equal to 113 % of net income in fiscal 2025, above the 90 % threshold, ROIC of 19.4 % against a 12 % bar, and EPS growth of 21.6 % a year over fiscal 2020-2025, nearly three times the 8 % healthy mark.
How this was prepared: the data comes from companies' official filings, collected by a professional provider, and from Kaplio's analysis engine (trailing-12-month ratios, 10 years of history and sector medians computed across US-listed companies). The text is written from that data alone, every figure is checked against it before publication, and it is reviewed when the company reports results. This is not investment advice.
Investor methods verdict
Would Buffett approve HCA Healthcare today?
The Buffett Method would not approve HCA Healthcare today: it fails its quality rules. Business quality: 60 out of 100 (price not included). Kaplio assessment with data from the week of 2026-10-26; not investment advice.
Would Peter Lynch approve HCA Healthcare today?
The Lynch Method approves HCA Healthcare today: P/E 15.7 with 21% growth; it asks that the P/E not exceed growth. Business quality: 59 out of 100 (price not included). Lynch classifies it as a stalwart. Kaplio assessment with data from the week of 2026-10-26; not investment advice.
Profitability
| Return on Equity | -100.45% |
| Return on Invested Capital | 18.52% |
| Return on Assets | 10.68% |
| Gross Margin | 21.69% |
| Operating Margin | 15.34% |
| Net Margin | 8.61% |
Financial Health
| Debt / Equity | -6.49 |
| Current Ratio | 0.82 |
| Piotroski F-Score | 7 |
| Altman Z-Score | 2.73 |
Price Performance
| 1 month | +11.76% |
| 3 months | +17.54% |
| Year-to-date | +1.36% |
| 1 year | +2.94% |
| 3 years | +109.97% |
| 5 years | +88.53% |
| 10 years | +530.08% |
Dividend History
Paid in the last 12 months: $3.0600 per share in 4 payments.
| Date | Amount |
|---|---|
| 2026-12-15 | $0.7800 |
| 2026-09-16 | $0.7800 |
| 2026-06-16 | $0.7800 |
| 2026-03-17 | $0.7800 |
| 2025-12-15 | $0.7200 |
| 2025-09-16 | $0.7200 |
| 2025-06-16 | $0.7200 |
| 2025-03-17 | $0.7200 |
| 2024-12-13 | $0.6600 |
| 2024-09-16 | $0.6600 |
Amounts adjusted for stock splits.
Related companies: THC · UHS · PACS · 0J1R.L · 0RPS.L · EHC · DVA · FMS
Explore sector: Healthcare · Medical - Care Facilities
More sections of HCA: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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