Financials HCA Healthcare, Inc.

Equities

HCA

US40412C1018

Healthcare Facilities & Services

Market Closed - Nyse Other stock markets 04:00:02 2024-06-07 pm EDT			5-day change	1st Jan Change
337.4 ^USD	+0.18%		-0.68%	+24.66%

Jun. 07	Wolfe Research Adjusts Price Target on HCA Healthcare to $358 From $357	MT
Jun. 06	Jefferies Raises HCA Healthcare's Price Target to $390 From $350	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	50,134	55,649	79,908	67,841	72,450	88,380	-	-
Enterprise Value (EV) ¹	83,235	84,860	113,036	105,017	111,108	128,731	127,870	127,247
P/E ratio	14.7 x	15 x	12.1 x	12.5 x	14.3 x	16.2 x	14.7 x	12.9 x
Yield	1.1%	0.26%	0.75%	0.93%	-	0.79%	0.83%	0.88%
Capitalization / Revenue	0.98 x	1.08 x	1.36 x	1.13 x	1.12 x	1.27 x	1.21 x	1.14 x
EV / Revenue	1.62 x	1.65 x	1.92 x	1.74 x	1.71 x	1.85 x	1.74 x	1.65 x
EV / EBITDA	8.44 x	8.45 x	8.94 x	8.7 x	8.73 x	9.66 x	9.09 x	8.57 x
EV / FCF	24.2 x	13.3 x	21 x	33.9 x	23.7 x	28.4 x	29.3 x	25.6 x
FCF Yield	4.14%	7.54%	4.76%	2.95%	4.22%	3.53%	3.41%	3.91%
Price to Book	-18.3 x	98.8 x	-90.5 x	-25.6 x	-	-40.3 x	-60.1 x	-756 x
Nbr of stocks (in thousands)	339,178	338,375	311,023	282,717	267,661	261,914	-	-
Reference price ²	147.8	164.5	256.9	240.0	270.7	337.4	337.4	337.4
Announcement Date	1/28/20	2/2/21	1/27/22	1/27/23	1/30/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	51,336	51,533	58,752	60,233	64,968	69,614	73,323	77,232
EBITDA ¹	9,857	10,037	12,644	12,067	12,726	13,326	14,067	14,851
EBIT ¹	7,261	7,316	9,791	9,098	9,649	10,104	10,677	11,503
Operating Margin	14.14%	14.2%	16.66%	15.1%	14.85%	14.51%	14.56%	14.89%
Earnings before Tax (EBT) ¹	5,244	5,430	9,833	8,580	7,706	8,179	8,584	9,135
Net income ¹	3,505	3,754	6,956	5,643	5,242	5,520	5,914	6,325
Net margin	6.83%	7.28%	11.84%	9.37%	8.07%	7.93%	8.07%	8.19%
EPS ²	10.07	10.93	21.16	19.15	18.97	20.88	22.99	26.06
Free Cash Flow ¹	3,444	6,397	5,382	3,102	4,687	4,539	4,364	4,972
FCF margin	6.71%	12.41%	9.16%	5.15%	7.21%	6.52%	5.95%	6.44%
FCF Conversion (EBITDA)	34.94%	63.73%	42.57%	25.71%	36.83%	34.06%	31.02%	33.48%
FCF Conversion (Net income)	98.26%	170.4%	77.37%	54.97%	89.41%	82.23%	73.79%	78.6%
Dividend per Share ²	1.630	0.4300	1.920	2.240	-	2.650	2.811	2.959
Announcement Date	1/28/20	2/2/21	1/27/22	1/27/23	1/30/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	15,064	14,945	14,820	14,971	15,497	15,591	15,861	16,213	17,303	17,339	17,021	17,178	18,194	18,178	18,000
EBITDA ¹	3,149	2,944	3,042	2,902	3,179	3,172	3,056	2,880	3,618	3,353	3,224	3,061	3,693	3,520	3,417
EBIT ¹	2,421	2,212	2,304	2,153	2,429	2,416	2,293	2,111	2,829	2,558	2,412	2,274	2,857	2,687	2,573
Operating Margin	16.07%	14.8%	15.55%	14.38%	15.67%	15.5%	14.46%	13.02%	16.35%	14.75%	14.17%	13.24%	15.7%	14.78%	14.3%
Earnings before Tax (EBT) ¹	2,586	1,814	1,760	1,704	3,302	1,922	1,809	1,630	2,345	2,247	1,913	1,764	2,355	2,164	2,022
Net income ¹	1,814	1,273	1,155	1,134	2,081	1,363	1,193	1,079	1,607	1,591	1,302	1,188	1,583	1,510	1,425
Net margin	12.04%	8.52%	7.79%	7.57%	13.43%	8.74%	7.52%	6.66%	9.29%	9.18%	7.65%	6.92%	8.7%	8.31%	7.92%
EPS ²	5.750	4.140	3.900	3.910	7.280	4.850	4.290	3.910	5.930	5.930	4.844	4.467	6.112	5.825	5.575
Dividend per Share ²	0.4800	0.5600	0.5600	0.5600	0.5600	0.6000	0.6000	0.6000	-	-	0.6525	0.6530	0.6617	0.7120	0.7119
Announcement Date	1/27/22	4/22/22	7/22/22	10/21/22	1/27/23	4/21/23	7/27/23	10/24/23	1/30/24	4/26/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	33,101	29,211	33,128	37,176	38,658	40,351	39,489	38,867
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.358 x	2.91 x	2.62 x	3.081 x	3.038 x	3.028 x	2.807 x	2.617 x
Free Cash Flow ¹	3,444	6,397	5,382	3,102	4,687	4,539	4,364	4,972
ROE (net income / shareholders' equity)	-	-	352%	-	-	122%	58.6%	39.1%
ROA (Net income/ Total Assets)	8.32%	8.11%	14.2%	10.9%	9.46%	9.57%	10.4%	10.5%
Assets ¹	42,127	46,274	49,116	51,590	55,400	57,659	56,864	59,998
Book Value Per Share ²	-8.060	1.660	-2.840	-9.390	-	-8.380	-5.620	-0.4500
Cash Flow per Share ²	21.80	26.90	27.30	28.90	34.10	36.70	37.10	39.20
Capex ¹	4,158	2,835	3,577	4,395	4,744	5,062	5,229	5,513
Capex / Sales	8.1%	5.5%	6.09%	7.3%	7.3%	7.27%	7.13%	7.14%
Announcement Date	1/28/20	2/2/21	1/27/22	1/27/23	1/30/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for HCA Healthcare, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

337.4 USD

Average target price

350.5 USD

Spread / Average Target

+3.86%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Healthcare Facilities & Services

	1st Jan change	Capi.
HCA HEALTHCARE, INC.	+24.66%	88.38B
CVS HEALTH CORPORATION	-21.76%	77.56B
DR. SULAIMAN AL HABIB MEDICAL SERVICES GROUP COMPANY	+5.56%	26.97B
LABCORP HOLDINGS INC.	-13.50%	16.57B
QUEST DIAGNOSTICS INCORPORATED	+3.23%	15.81B
NATERA, INC.	+77.51%	13.65B
TENET HEALTHCARE CORPORATION	+76.96%	13.06B
FRESENIUS MEDICAL CARE AG	+4.72%	12.61B
DAVITA INC.	+36.67%	12.56B
UNIVERSAL HEALTH SERVICES, INC.	+23.02%	12.55B

Other Healthcare Facilities & Services