Financials HCA Healthcare, Inc.

Equities

HCA

US40412C1018

Healthcare Facilities & Services

Real-time Estimate Cboe BZX Other stock markets 11:08:38 2024-05-03 am EDT			5-day change	1st Jan Change
309.8 ^USD	+0.33%		+1.08%	+14.52%

Apr. 30	Declared voting Results by HCA Healthcare, Inc	CI
Apr. 30	Declared voting Results by HCA Healthcare, Inc	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	50,134	55,649	79,908	67,841	72,450	81,684	-	-
Enterprise Value (EV) ¹	83,235	84,860	113,036	105,017	111,108	122,661	121,349	121,993
P/E ratio	14.7 x	15 x	12.1 x	12.5 x	14.3 x	14.8 x	13.5 x	12.1 x
Yield	1.1%	0.26%	0.75%	0.93%	-	0.86%	0.91%	0.96%
Capitalization / Revenue	0.98 x	1.08 x	1.36 x	1.13 x	1.12 x	1.18 x	1.12 x	1.06 x
EV / Revenue	1.62 x	1.65 x	1.92 x	1.74 x	1.71 x	1.77 x	1.66 x	1.58 x
EV / EBITDA	8.44 x	8.45 x	8.94 x	8.7 x	8.73 x	9.22 x	8.65 x	8.23 x
EV / FCF	24.2 x	13.3 x	21 x	33.9 x	23.7 x	26.6 x	27.4 x	24.5 x
FCF Yield	4.14%	7.54%	4.76%	2.95%	4.22%	3.76%	3.66%	4.08%
Price to Book	-18.3 x	98.8 x	-90.5 x	-25.6 x	-	-36.8 x	-122 x	134 x
Nbr of stocks (in thousands)	339,178	338,375	311,023	282,717	267,661	264,485	-	-
Reference price ²	147.8	164.5	256.9	240.0	270.7	308.8	308.8	308.8
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	69,441	73,185	77,123
EBITDA ¹	9,857	10,037	12,644	12,067	12,726	13,298	14,034	14,827
EBIT ¹	7,261	7,316	9,791	9,098	9,649	10,095	10,662	11,256
Operating Margin	14.14%	14.2%	16.66%	15.1%	14.85%	14.54%	14.57%	14.6%
Earnings before Tax (EBT) ¹	5,244	5,430	9,833	8,580	7,706	8,125	8,563	9,129
Net income ¹	3,505	3,754	6,956	5,643	5,242	5,517	5,904	6,315
Net margin	6.83%	7.28%	11.84%	9.37%	8.07%	7.95%	8.07%	8.19%
EPS ²	10.07	10.93	21.16	19.15	18.97	20.84	22.96	25.55
Free Cash Flow ¹	3,444	6,397	5,382	3,102	4,687	4,614	4,436	4,972
FCF margin	6.71%	12.41%	9.16%	5.15%	7.21%	6.64%	6.06%	6.45%
FCF Conversion (EBITDA)	34.94%	63.73%	42.57%	25.71%	36.83%	34.7%	31.61%	33.53%
FCF Conversion (Net income)	98.26%	170.4%	77.37%	54.97%	89.41%	83.62%	75.14%	78.72%
Dividend per Share ²	1.630	0.4300	1.920	2.240	-	2.647	2.811	2.960
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 Q3	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
Net sales ¹	15,276	15,064	14,945	14,820	14,971	15,497	15,591	15,861	16,213	17,303	17,339	17,021	17,181	18,177	18,183
EBITDA ¹	3,224	3,149	2,944	3,042	2,902	3,179	3,172	3,056	2,880	3,618	3,353	3,227	3,059	3,696	3,518
EBIT ¹	2,508	2,421	2,212	2,304	2,153	2,429	2,416	2,293	2,111	2,829	2,558	2,420	2,271	2,853	2,690
Operating Margin	16.42%	16.07%	14.8%	15.55%	14.38%	15.67%	15.5%	14.46%	13.02%	16.35%	14.75%	14.22%	13.22%	15.69%	14.79%
Earnings before Tax (EBT) ¹	3,157	2,586	1,814	1,760	1,704	3,302	1,922	1,809	1,630	2,345	2,247	1,921	1,757	2,360	2,164
Net income ¹	2,269	1,814	1,273	1,155	1,134	2,081	1,363	1,193	1,079	1,607	1,591	1,306	1,183	1,582	1,510
Net margin	14.85%	12.04%	8.52%	7.79%	7.57%	13.43%	8.74%	7.52%	6.66%	9.29%	9.18%	7.67%	6.89%	8.7%	8.3%
EPS ²	7.000	5.750	4.140	3.900	3.910	7.280	4.850	4.290	3.910	5.930	5.930	4.891	4.492	6.116	5.869
Dividend per Share ²	0.4800	0.4800	0.5600	0.5600	0.5600	0.5600	0.6000	0.6000	0.6000	-	0.6568	0.6570	0.6575	0.6680	0.7120
Announcement Date	10/22/21	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	40,977	39,665	40,309
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.358 x	2.91 x	2.62 x	3.081 x	3.038 x	3.082 x	2.826 x	2.719 x
Free Cash Flow ¹	3,444	6,397	5,382	3,102	4,687	4,614	4,436	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%	9.33%	10.4%	10.5%
Assets ¹	42,127	46,274	49,116	51,590	55,400	59,128	57,015	60,390
Book Value Per Share ²	-8.060	1.660	-2.840	-9.390	-	-8.380	-2.520	2.310
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	5,129	5,331	5,617
Capex / Sales	8.1%	5.5%	6.09%	7.3%	7.3%	7.39%	7.28%	7.28%
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

308.8 USD

Average target price

344.4 USD

Spread / Average Target

+11.50%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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