HCA Healthcare, Inc.

HCANYSEHealthcare● Active

$366.58

$-5.55(-1.49%)

Market Cap$81.3B

P/E Ratio—

52W High$556.52

52W Low$330

Avg Volume1.3M

Open$369.05

Beta1.13

Free Cash Flow Financials Revenue

HCA Healthcare, Inc. (HCA) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

HCA · free cash flow · updated Jun 8, 2026

Core FCF metrics

HCA · FCF · TTM · margin & CAGR

Free cash flow was $7.69B for FY2025 (fiscal year ending 2025-12-31), up 36.4% year-over-year The FCF margin was 10.2%. Five-year CAGR stands at +3.8%.

FY2025 Free Cash Flow$7.69B▲ +36.4% YoY

Trailing 12M (TTM)$7.93Btrailing 4 quarters sum

FCF Margin10.2%$7.69B ÷ revenue

3-Year CAGR+23.1%FY2022 → FY2025

5-Year CAGR+3.8%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

HCA · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$12.64B(4.94B)$7.69B▲ +36.4%10.2%

FY2024$10.51B(4.88B)$5.64B▲ +20.3%8.0%

FY2023$9.43B(4.74B)$4.69B▲ +13.6%7.2%

FY2022$8.52B(4.39B)$4.13B▼ 23.3%6.8%

FY2021$8.96B(3.58B)$5.38B▼ 15.9%9.2%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

HCA · P/FCF · FCF yield · FCF per share

HCA Healthcare, Inc. (HCA) trades at a FCF yield of 9.60% and a price-to-free-cash-flow ratio of 10.7x. FCF per share stands at $34.36, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

9.60%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$34.36

TTM FCF ÷ Shares Outstanding

Price / FCF

x10.7

Share Price ÷ FCF per Share

EV / FCF (TTM)

x16.6

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

HCA · cash flow statement · operating / investing / financing

For FY2025, HCA Healthcare, Inc. generated $12.64B in operating cash flow and spent 4.94B in capital expenditures, yielding $7.69B in free cash flow.

Operating Activities

+$12.64B

Cash from core business operations

2025-12-31

Investing Activities

−$4.99B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$8.55B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($12.64B) − |CapEx| (4.94B) = FCF ($7.69B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

HCA vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

HCA Healthcare, Inc.YOU

HCA

$7.69B+36.4%10.2%

39%

UnitedHealth Group Incorporated

UNH

$16.07B-22.4%3.6%

82%

Eli Lilly and Company

LLY

$8.97B+2065.6%13.8%

46%

Healthcare · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

HCA Healthcare, Inc. (HCA) reported free cash flow of $7.69B for FY2025 (fiscal year ending 2025-12-31), up 36.4% year-over-year. The FCF margin was 10.2%.

Based on available data, HCA Healthcare, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $7.69B in FY2025. The 5-year CAGR stands at +3.8%.

HCA Healthcare, Inc.'s FCF yield is 9.60% and price-to-FCF ratio is 10.7x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

HCA free cash flow · 8 questions

HCA Healthcare, Inc. free cash flow was $7.69B for FY2025, up 36.4% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $7.93B.

HCA free cash flowHCA FCFHCA FCF 2025HCA free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · HCA Healthcare, Inc. · HCA Healthcare, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026