| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 72 | 15.6x | 17.3x | Top tier | |
Growth | 50 | 7.3% | 7.1% | Around median | |
Quality | 61 | 23.8% | 4.5% | Around median | |
Safety | 43 | 3.0x | 2.6x | Around median | |
Capital Return | 82 | 0.64% | 0.06% | Top tier | |
Momentum | 67 | -4.0% | -1.6% | Top tier | |
Sentiment | 85 | 15 | 3 | Top tier |
The floor: what the company is worth if growth stopped today
52% of today's price is what a buyer pays for growth that has not happened yet.
10-year US Treasury yield 4.96% as of 2026-10-22. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
HCA Healthcare operates a healthcare network that combines hospitals, emergency services, inpatient and outpatient surgery, surgery centers, rehabilitation, and cardiac services. It generates revenue from treating patients through commercial insurance, Medicare, Medicaid, and health insurance exchanges, in addition to supplemental government payments; therefore, profitability depends on case volumes, payer mix, contracted rates, government reimbursement, and operating efficiency. In fiscal Q2 2026, uninsured patients represented slightly more than 10% of equivalent admissions, while health insurance exchanges represented 6.8%.
In fiscal Q2 2026, diluted earnings per share rose 11% year over year, while revenue exceeded analysts' estimates by 2.5% and earnings per share exceeded estimates by 2.2%. Same-facility admissions increased 2.5% and equivalent admissions rose 2.7%, but inpatient surgeries declined 2.3% and outpatient surgeries fell 3.4%, while emergency room visits increased 3.6%. Net revenue per equivalent admission also grew 6.4%, supported by supplemental payments and updates to contracted and government rates.
Fiscal Q1 2026 statements show revenue of $19.1 billion, net income of $1.6 billion, and earnings per share of $7.15, implying a calculated net income margin of approximately 8.4%. Fiscal 2025 revenue was approximately $75.6 billion, net income was $6.8 billion, and earnings per share were $28.33, while 2026 trailing-twelve-month figures were revenue of $76.4 billion and net income of $6.8 billion. Regarding demand mix in fiscal Q2 2026, Medicare equivalent admissions increased 3.6%, Medicaid rose 2.7%, and commercial insurance excluding exchanges increased 2.4%, compared with a 15% decline in exchanges and a 15% increase in uninsured patients.
The analyst consensus rates HCA Healthcare shares a "Buy," with an average price target of $455.19 and a wide range from $369 to $579, reflecting significant differences in assessments of the impact of the changing payer mix and growth trajectory. The average target is approximately 18% below the 52-week range high of $556.52, while the highest target exceeds that high and the lowest target remains close to the range low of $353.99. Following the July 28, 2026 results, the consensus target in that report remained at $453 despite revenue and earnings per share exceeding expectations, reflecting analysts' caution regarding slowing growth and pressure from uninsured patients.
Figures in the text are as of 2026-08-26; the live price is shown at the top of the page.
Diluted earnings per share rose 11% year over year in fiscal Q2 2026. Revenue exceeded analysts' expectations by 2.5%, while earnings per share exceeded estimates by 2.2%. Same-facility admissions also increased 2.5%, equivalent admissions rose 2.7%, and net revenue per equivalent admission grew 6.4%.
Equivalent admissions associated with exchanges declined 15% in fiscal Q2 2026, and patients who lost coverage shifted almost one-for-one into the uninsured category. The company estimated that this shift reduced Adjusted EBITDA by approximately $400 million in the quarter, with an expected annual impact range of between $1 billion and $1.2 billion. This shift accounted for approximately 80% of the growth in uninsured cases, while the remainder was primarily associated with slower conversion of patients to Medicaid in Texas.
According to the July 24, 2026 call, the company approved more than $7 billion in capital expenditures scheduled to come online over three years. The plan includes between 1,000 and 1,200 additional beds, along with new hospitals and outpatient facilities. The number of care sites in fiscal Q2 2026 was 5% higher than in the comparable period, and the company has between 250 and 300 outpatient facilities in its investment or acquisition plans that are expected to come online in late 2026 and early 2027.
Automated analysis for informational purposes only — not investment advice.
The company expects revenue of between $77 billion and $79.5 billion in fiscal 2026. The Adjusted EBITDA range is between $15.4 billion and $16.1 billion, and net income is expected to be between $6.3 billion and $6.7 billion. It also expects diluted earnings per share of between $28.70 and $30.50, with capital expenditures of between $5 billion and $5.5 billion.
The program showed progress in fiscal Q2 2026, as same-facility cost per equivalent admission was nearly flat year over year after accounting for Medicaid supplemental programs. This cost improved 1.4% from the previous quarter, and the initiatives target digital transformation, global capabilities, and the expansion of shared services. However, professional services fees increased 8.5% year over year in the quarter and 10% fiscal year to date, with anesthesia and radiology remaining the main sources of pressure.
In fiscal Q2 2026, Medicare equivalent admissions increased 3.6%, Medicaid rose 2.7%, and commercial insurance excluding exchanges increased 2.4%. Emergency room visits rose 3.6%, while emergency inpatient surgeries, which represent approximately two-thirds of these surgeries, continued to grow by 2% during the first half. In contrast, elective inpatient surgeries declined 6%, showing that strong demand in emergency, cardiac, and rehabilitation services did not extend equally to elective procedures.