HCA Healthcare, Inc. (HCA) - Net Assets
Based on the latest financial reports, HCA Healthcare, Inc. (HCA) has net assets worth $-2.98 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($61.45 Billion) and total liabilities ($64.43 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check HCA tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $-2.98 Billion |
| % of Total Assets | -4.85% |
| Annual Growth Rate | N/A |
| 5-Year Change | -286.1% |
| 10-Year Change | N/A |
| Growth Volatility | 290.81 |
HCA Healthcare, Inc. - Net Assets Trend (1990–2025)
This chart illustrates how HCA Healthcare, Inc.'s net assets have evolved over time, based on quarterly financial data. See HCA Healthcare, Inc. defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for HCA Healthcare, Inc. (1990–2025)
The table below shows the annual net assets of HCA Healthcare, Inc. from 1990 to 2025. For live valuation and market cap data, see HCA stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $-2.77 Billion | -599.28% |
| 2024-12-31 | $555.00 Million | -47.64% |
| 2023-12-31 | $1.06 Billion | +1552.05% |
| 2022-12-31 | $-73.00 Million | -104.90% |
| 2021-12-31 | $1.49 Billion | -48.51% |
| 2020-12-31 | $2.89 Billion | +611.86% |
| 2019-12-31 | $-565.00 Million | +80.64% |
| 2018-12-31 | $-2.92 Billion | +41.58% |
| 2017-12-31 | $-5.00 Billion | +11.33% |
| 2016-12-31 | $-5.63 Billion | +6.83% |
| 2015-12-31 | $-6.05 Billion | +6.96% |
| 2014-12-31 | $-6.50 Billion | +6.21% |
| 2013-12-31 | $-6.93 Billion | +16.94% |
| 2012-12-31 | $-8.34 Billion | -18.92% |
| 2011-12-31 | $-7.01 Billion | +35.02% |
| 2010-12-31 | $-10.79 Billion | -35.30% |
| 2009-12-31 | $-7.98 Billion | +13.84% |
| 2008-12-31 | $-9.26 Billion | +3.54% |
| 2007-12-31 | $-9.60 Billion | +8.28% |
| 2006-12-31 | $-10.47 Billion | -283.92% |
| 2005-12-31 | $5.69 Billion | +9.11% |
| 2004-12-31 | $5.22 Billion | -24.29% |
| 2003-12-31 | $6.89 Billion | +9.12% |
| 2002-12-31 | $6.31 Billion | +18.55% |
| 2001-12-31 | $5.33 Billion | +6.99% |
| 2000-12-31 | $4.98 Billion | -21.99% |
| 1999-12-31 | $6.38 Billion | -23.56% |
| 1998-12-31 | $8.35 Billion | +3.22% |
| 1997-12-31 | $8.09 Billion | -14.39% |
| 1996-12-31 | $9.45 Billion | +20.30% |
| 1995-12-31 | $7.85 Billion | +122.53% |
| 1994-12-31 | $3.53 Billion | 0.00% |
| 1993-12-31 | $3.53 Billion | +1091.49% |
| 1992-12-31 | $296.10 Million | +109.55% |
| 1991-12-31 | $141.30 Million | +147.46% |
| 1990-12-31 | $57.10 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to HCA Healthcare, Inc.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 173554.5% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $2.00 Million | % |
| Other Comprehensive Income | $-305.00 Million | % |
| Other Components | $3.26 Billion | % |
| Total Equity | $-2.77 Billion | 100.00% |
HCA Healthcare, Inc. Competitors by Market Cap
The table below lists competitors of HCA Healthcare, Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
ING Group NV ADR
NYSE:ING
|
$80.23 Billion |
|
3M Company
NYSE:MMM
|
$80.24 Billion |
|
State Bank of India
F:SID
|
$80.31 Billion |
|
United Parcel Service Inc
NYSE:UPS
|
$80.42 Billion |
|
Infineon Technologies AG
F:IFX
|
$79.92 Billion |
|
Industrial and Commercial Bank of China Limited
F:ICK
|
$79.67 Billion |
|
Schlumberger NV
NYSE:SLB
|
$79.64 Billion |
|
Sherwin-Williams Co
NYSE:SHW
|
$79.39 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in HCA Healthcare, Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 555,000,000 to -2,771,000,000, a change of -3,326,000,000 (-599.3%).
- Net income of 6,784,000,000 contributed positively to equity growth.
- Dividend payments of 679,000,000 reduced retained earnings.
- Share repurchases of 10,067,000,000 reduced equity.
- Other comprehensive income increased equity by 82,000,000.
- Other factors increased equity by 554,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $6.78 Billion | +244.82% |
| Dividends Paid | $679.00 Million | -24.5% |
| Share Repurchases | $10.07 Billion | -363.3% |
| Other Comprehensive Income | $82.00 Million | +2.96% |
| Other Changes | $554.00 Million | +19.99% |
| Total Change | $- | -599.28% |
Book Value vs Market Value Analysis
This analysis compares HCA Healthcare, Inc.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1990-12-31 | $3.20 | $389.97 | x |
| 1991-12-31 | $5.67 | $389.97 | x |
| 1992-12-31 | $9.06 | $389.97 | x |
| 1993-12-31 | $7.17 | $389.97 | x |
| 1994-12-31 | $7.17 | $389.97 | x |
| 1995-12-31 | $11.68 | $389.97 | x |
| 1996-12-31 | $13.93 | $389.97 | x |
| 1997-12-31 | $12.20 | $389.97 | x |
| 1998-12-31 | $12.94 | $389.97 | x |
| 1999-12-31 | $9.57 | $389.97 | x |
| 2000-12-31 | $8.98 | $389.97 | x |
| 2001-12-31 | $9.92 | $389.97 | x |
| 2002-12-31 | $12.05 | $389.97 | x |
| 2003-12-31 | $13.50 | $389.97 | x |
| 2004-12-31 | $10.78 | $389.97 | x |
| 2005-12-31 | $12.72 | $389.97 | x |
| 2006-12-31 | $-25.52 | $389.97 | x |
| 2007-12-31 | $-27.53 | $389.97 | x |
| 2008-12-31 | $-26.55 | $389.97 | x |
| 2009-12-31 | $-22.88 | $389.97 | x |
| 2010-12-31 | $-24.68 | $389.97 | x |
| 2011-12-31 | $-14.14 | $389.97 | x |
| 2012-12-31 | $-18.16 | $389.97 | x |
| 2013-12-31 | $-15.00 | $389.97 | x |
| 2014-12-31 | $-14.43 | $389.97 | x |
| 2015-12-31 | $-14.17 | $389.97 | x |
| 2016-12-31 | $-14.23 | $389.97 | x |
| 2017-12-31 | $-13.42 | $389.97 | x |
| 2018-12-31 | $-8.21 | $389.97 | x |
| 2019-12-31 | $-1.62 | $389.97 | x |
| 2020-12-31 | $8.37 | $389.97 | x |
| 2021-12-31 | $4.53 | $389.97 | x |
| 2022-12-31 | $-0.25 | $389.97 | x |
| 2023-12-31 | $3.83 | $389.97 | x |
| 2024-12-31 | $2.12 | $389.97 | x |
| 2025-12-31 | $-12.01 | $389.97 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently HCA Healthcare, Inc. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 0.00%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 8.97%
- • Asset Turnover: 1.25x
- • Equity Multiplier: 0.00x
- Recent ROE (0.00%) is below the historical average (65.01%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1990 | 17.16% | 3.60% | 0.85x | 5.63x | $4.09 Million |
| 1991 | 10.76% | 3.30% | 0.95x | 3.43x | $1.07 Million |
| 1992 | 8.61% | 3.35% | 0.71x | 3.62x | $-4.11 Million |
| 1993 | 14.37% | 4.95% | 1.00x | 2.90x | $154.20 Million |
| 1994 | 14.37% | 4.95% | 1.00x | 2.90x | $154.20 Million |
| 1995 | 12.24% | 5.43% | 0.89x | 2.53x | $175.90 Million |
| 1996 | 15.93% | 7.56% | 0.94x | 2.25x | $560.50 Million |
| 1997 | -3.77% | -1.62% | 0.86x | 2.72x | $-1.11 Billion |
| 1998 | 5.64% | 2.52% | 0.96x | 2.33x | $-363.60 Million |
| 1999 | 11.60% | 4.44% | 0.99x | 2.65x | $102.00 Million |
| 2000 | 5.87% | 1.75% | 0.95x | 3.53x | $-205.70 Million |
| 2001 | 16.64% | 4.94% | 1.01x | 3.33x | $353.50 Million |
| 2002 | 13.19% | 4.22% | 1.05x | 2.97x | $201.70 Million |
| 2003 | 19.34% | 6.11% | 1.04x | 3.06x | $643.10 Million |
| 2004 | 23.89% | 5.30% | 1.09x | 4.12x | $724.40 Million |
| 2005 | 25.02% | 5.82% | 1.10x | 3.91x | $854.90 Million |
| 2006 | 0.00% | 4.07% | 1.08x | 0.00x | $2.08 Billion |
| 2007 | 0.00% | 3.25% | 1.12x | 0.00x | $1.83 Billion |
| 2008 | 0.00% | 2.37% | 1.17x | 0.00x | $1.60 Billion |
| 2009 | 0.00% | 3.51% | 1.25x | 0.00x | $1.85 Billion |
| 2010 | 0.00% | 3.93% | 1.29x | 0.00x | $2.29 Billion |
| 2011 | 0.00% | 7.58% | 1.21x | 0.00x | $3.17 Billion |
| 2012 | 0.00% | 4.86% | 1.18x | 0.00x | $2.44 Billion |
| 2013 | 0.00% | 4.55% | 1.19x | 0.00x | $2.25 Billion |
| 2014 | 0.00% | 5.08% | 1.18x | 0.00x | $2.52 Billion |
| 2015 | 0.00% | 5.37% | 1.21x | 0.00x | $2.73 Billion |
| 2016 | 0.00% | 6.97% | 1.23x | 0.00x | $3.45 Billion |
| 2017 | 0.00% | 5.08% | 1.19x | 0.00x | $2.72 Billion |
| 2018 | 0.00% | 8.11% | 1.19x | 0.00x | $4.08 Billion |
| 2019 | 0.00% | 6.83% | 1.14x | 0.00x | $3.56 Billion |
| 2020 | 129.81% | 7.28% | 1.09x | 16.42x | $3.46 Billion |
| 2021 | 467.16% | 11.84% | 1.16x | 34.08x | $6.81 Billion |
| 2022 | 0.00% | 9.37% | 1.15x | 0.00x | $5.65 Billion |
| 2023 | 494.53% | 8.07% | 1.16x | 53.03x | $5.14 Billion |
| 2024 | 1037.84% | 8.16% | 1.19x | 107.23x | $5.70 Billion |
| 2025 | 0.00% | 8.97% | 1.25x | 0.00x | $7.06 Billion |
Industry Comparison
This section compares HCA Healthcare, Inc.'s net assets metrics with peer companies in the Medical Care Facilities industry.
Industry Context
- Industry: Medical Care Facilities
- Average net assets among peers: $330,251,300
- Average return on equity (ROE) among peers: -5.69%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| HCA Healthcare, Inc. (HCA) | $-2.98 Billion | 17.16% | N/A | $80.16 Billion |
| Acadia Healthcare Company Inc (ACHC) | $432.55 Million | 4.72% | 1.27x | $1.52 Billion |
| Addus HomeCare Corporation (ADUS) | $34.58 Million | 11.64% | 2.93x | $1.69 Billion |
| agilon health Inc (AGL) | $470.95 Million | -55.24% | 2.68x | $264.44 Million |
| Airsculpt Technologies Inc (AIRS) | $79.29 Million | -10.41% | 1.65x | $358.37 Million |
| Amedisys Inc (AMED) | $454.23 Million | -18.40% | 0.61x | $3.32 Billion |
| AMN Healthcare Services Inc (AMN) | $217.74 Million | 15.12% | 1.72x | $624.22 Million |
| American Shared Hospital Service (AMS) | $-22.30 Million | 0.00% | 0.00x | $8.87 Million |
| American Oncology Network Inc. (AONC) | $108.01 Million | -3.68% | 3.35x | $292.48 Million |
| Ardent Health Partners, Inc. (ARDT) | $1.08 Billion | 4.65% | 3.71x | $1.35 Billion |
| Astrana Health Inc (ASTH) | $445.15 Million | -5.34% | 0.84x | $1.90 Billion |
About HCA Healthcare, Inc.
HCA Healthcare, Inc., through its subsidiaries, provides health care services in the United States. The company owns, manages, and operates hospitals, ASCs, freestanding emergency care facilities, urgent care facilities, walk-in clinics, diagnostic and imaging centers, radiation and oncology therapy centers, as well as rehabilitation and physical therapy centers, physician practices, home health … Read more