)
Visual
earnings real time
HCA Healthcare
HCA Healthcare (HCA) investor relations material
HCA Healthcare Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary27 Jan, 2026
Executive summary
Achieved 19 consecutive quarters of volume growth, with record 47 million patient encounters in 2025.
Fourth quarter 2025 revenues rose 6.7% year-over-year to $19.513 billion, with net income up 30.6% to $1.878 billion and adjusted EBITDA up 10.8% to $4.114 billion.
Full-year 2025 revenues reached $75.600 billion, net income $6.784 billion, and adjusted EBITDA $15.566 billion, all showing strong year-over-year growth.
Investments in network expansion, workforce, and clinical capabilities drove positive outcomes.
Financial highlights
Q4 2025 revenue up 6.7% year-over-year; net income up almost 31%; adjusted EBITDA up ~11%.
Full-year 2025: revenue up 6.6%, equivalent admissions up 2.4%, net revenue per equivalent admission up 4.1%.
Adjusted EBITDA margin improved by 90 basis points for the year; diluted EPS as adjusted up 28.5%.
Cash flow from operations reached $12.6B for 2025, up 20% from 2024.
Diluted EPS for Q4 2025 was $8.14, up 44.6% year-over-year; full-year diluted EPS was $28.33, up from $22.00 in 2024.
Outlook and guidance
2026 revenue guidance: $76.5B–$80B; adjusted EBITDA: $15.55B–$16.45B; net income: $6.5B–$7B.
Diluted EPS guidance: $29.10–$31.50; capital spending increased to $5B–$5.5B.
Expect 2%–3% growth in equivalent admissions; anticipate $600M–$900M adverse EBITDA impact from health insurance exchanges, partially offset by $400M in resiliency initiatives.
Supplemental payment net benefit expected to decline $250M–$450M; full-year margins to remain slightly above 20%.
Guidance assumes stable operating environment, volume growth, and excludes impacts from facility sales, legal claims, and certain Medicaid payments.
What explains Q4 2025 adjusted EPS variance?
Assess 2025 share repurchases vs. cash flow
Reconcile Q4 same-facility admissions vs. surgeries
Supplemental payment decline drivers
Capital allocation priorities for 2026
AI's role in clinical and operational improvements
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Latest summaries
- TimeTickerHeadlineOpen
- 323410
Strong growth in customers, profits, and deposits, with stable asset quality and global milestones. - 3407
Net income rose 22.7% year-over-year, with improved financials and a revised upward forecast. - RYM
Refreshed strategy targets NZD 150m cash flow uplift, NZD 500m cash release, and resumed dividends by FY 2028. - 9101
Profits fell across most segments, but energy shipping and a major acquisition stood out. - 4626
Double-digit profit and sales growth, with strong segment results and a stock split impact. - 2371
Revenue up 21.5% YoY, but profit down on higher investments; LiPLUS Holdings acquired. - 3401
Major impairments and divestitures led to a net loss and lower revenue across all segments. - 8002
Profit forecast raised to ¥540.0B and annual dividend to ¥107.50 per share after strong results. - COF
Profit rebounded, NTA and occupancy rose, with strong leasing and premium divestment. - NUF
Statutory loss reported, seeds business repositioned, new CEO appointed, all resolutions passed.
Next HCA Healthcare earnings date
Q1 202624 Apr, 2026
HCA Healthcare
Next HCA Healthcare earnings date
Q1 202624 Apr, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
Related articles
)
)
Frequently asked questions
HCA Healthcare, Inc., provides health care services company in the United States. It operates through Hospital & Ambulatory Care segment. The company offers medical and surgical products and services; sleep medicine; imaging services; physical therapy and rehabilitation; diagnostic laboratory service; ambulatory surgery services; ambulatory urgent care centers, including urgent care centers; endoscopy centers, including colonoscopy centers; surgical hospitals, including cardiac surgery hospitals; outpatient rehabilitation clinics; and family planning centers.
It also provides primary, acute and ancillary care services in an arrangement with third parties that includes contract provisions for total management of the facilities. The company was founded in 1968 and is headquartered in Nashville, Tennessee
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage