HCA Healthcare, Inc. (HCA) — Working Capital to Net Assets Ratio
HCA Healthcare, Inc. (HCA) has a Working Capital to Net Assets ratio of 107.7% as of March 2026. Working capital of $-3.21 Billion (current assets of $16.05 Billion minus current liabilities of $19.26 Billion) is measured against net assets of $-2.98 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. Read HCA total debt and obligations for a breakdown of total debt and financial obligations.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
HCA Healthcare, Inc. Working Capital to Net Assets (1990–2025)
This chart shows how HCA Healthcare, Inc.'s Working Capital to Net Assets ratio has evolved across 36 annual periods from 1990 to 2025. As of March 2026, the ratio stands at 107.7%, reflecting working capital of $-3.21 Billion against net assets of $-2.98 Billion USD. See HCA FCF generation index to measure how efficiently the company converts operating cash flow to free cash.
Annual Working Capital to Net Assets for HCA Healthcare, Inc. (1990–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for HCA Healthcare, Inc. from 1990 to 2025, covering 36 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see HCA Healthcare, Inc. stock valuation.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 100.7% | $-2.79 Billion | $-2.77 Billion | $13.56 Billion | $16.35 Billion | ▼ -122.2 pp |
| 2024 | 222.9% | $1.24 Billion | $555.00 Million | $16.41 Billion | $15.18 Billion | ▲ +8.5 pp |
| 2023 | 214.3% | $2.27 Billion | $1.06 Billion | $14.93 Billion | $12.65 Billion | ▲ +5339.0 pp |
| 2022 | -5124.7% | $3.74 Billion | $-73.00 Million | $13.64 Billion | $9.90 Billion | ▼ -5390.6 pp |
| 2021 | 266.0% | $3.96 Billion | $1.49 Billion | $13.54 Billion | $9.58 Billion | ▲ +140.5 pp |
| 2020 | 125.5% | $3.63 Billion | $2.89 Billion | $12.33 Billion | $8.70 Billion | ▲ +734.2 pp |
| 2019 | -608.7% | $3.44 Billion | $-565.00 Million | $11.20 Billion | $7.76 Billion | ▼ -518.1 pp |
| 2018 | -90.6% | $2.64 Billion | $-2.92 Billion | $10.21 Billion | $7.57 Billion | ▼ -14.2 pp |
| 2017 | -76.5% | $3.82 Billion | $-5.00 Billion | $9.98 Billion | $6.16 Billion | ▼ -18.7 pp |
| 2016 | -57.7% | $3.25 Billion | $-5.63 Billion | $9.09 Billion | $5.83 Billion | ▲ +3.7 pp |
| 2015 | -61.5% | $3.72 Billion | $-6.05 Billion | $9.23 Billion | $5.52 Billion | ▼ -8.4 pp |
| 2014 | -53.1% | $3.45 Billion | $-6.50 Billion | $8.93 Billion | $5.48 Billion | ▼ -19.3 pp |
| 2013 | -33.8% | $2.34 Billion | $-6.93 Billion | $8.04 Billion | $5.70 Billion | ▼ -14.7 pp |
| 2012 | -19.1% | $1.59 Billion | $-8.34 Billion | $7.76 Billion | $6.17 Billion | ▲ +4.9 pp |
| 2011 | -23.9% | $1.68 Billion | $-7.01 Billion | $7.23 Billion | $5.55 Billion | ▲ +0.6 pp |
| 2010 | -24.6% | $2.65 Billion | $-10.79 Billion | $6.92 Billion | $4.27 Billion | ▲ +3.8 pp |
| 2009 | -28.4% | $2.26 Billion | $-7.98 Billion | $6.58 Billion | $4.31 Billion | ▼ -2.6 pp |
| 2008 | -25.8% | $2.39 Billion | $-9.26 Billion | $6.30 Billion | $3.91 Billion | ▼ -1.3 pp |
| 2007 | -24.5% | $2.36 Billion | $-9.60 Billion | $6.21 Billion | $3.85 Billion | ▼ -0.6 pp |
| 2006 | -23.9% | $2.50 Billion | $-10.47 Billion | $6.08 Billion | $3.58 Billion | ▼ -47.1 pp |
| 2005 | 23.2% | $1.32 Billion | $5.69 Billion | $5.21 Billion | $3.90 Billion | ▼ -5.7 pp |
| 2004 | 28.9% | $1.51 Billion | $5.22 Billion | $4.68 Billion | $3.17 Billion | ▲ +4.9 pp |
| 2003 | 24.0% | $1.65 Billion | $6.89 Billion | $4.82 Billion | $3.17 Billion | ▲ +11.9 pp |
| 2002 | 12.1% | $766.00 Million | $6.31 Billion | $4.50 Billion | $3.74 Billion | ▼ -5.8 pp |
| 2001 | 18.0% | $957.00 Million | $5.33 Billion | $4.14 Billion | $3.18 Billion | ▲ +11.7 pp |
| 2000 | 6.3% | $312.00 Million | $4.98 Billion | $4.45 Billion | $4.14 Billion | ▲ +2.1 pp |
| 1999 | 4.2% | $265.00 Million | $6.38 Billion | $3.60 Billion | $3.33 Billion | ▲ +0.5 pp |
| 1998 | 3.6% | $304.00 Million | $8.35 Billion | $3.86 Billion | $3.56 Billion | ▼ -16.8 pp |
| 1997 | 20.4% | $1.65 Billion | $8.09 Billion | $4.42 Billion | $2.77 Billion | ▲ +4.9 pp |
| 1996 | 15.5% | $1.47 Billion | $9.45 Billion | $4.41 Billion | $2.95 Billion | ▼ -3.1 pp |
| 1995 | 18.6% | $1.46 Billion | $7.85 Billion | $4.20 Billion | $2.74 Billion | ▲ +2.4 pp |
| 1994 | 16.2% | $573.00 Million | $3.53 Billion | $2.49 Billion | $1.92 Billion | ▲ +0.0 pp |
| 1993 | 16.2% | $573.00 Million | $3.53 Billion | $2.49 Billion | $1.92 Billion | ▼ -29.5 pp |
| 1992 | 45.8% | $135.50 Million | $296.10 Million | $338.40 Million | $202.90 Million | ▼ -2.9 pp |
| 1991 | 48.6% | $68.70 Million | $141.30 Million | $166.50 Million | $97.80 Million | ▲ +9.2 pp |
| 1990 | 39.4% | $22.50 Million | $57.10 Million | $102.50 Million | $80.00 Million | — |