Overview
- HCA reported 2025 net income of $6.8 billion, up 17.8% year over year, on revenue of $75.6 billion compared with $70.6 billion in 2024.
- Total expenses rose to $65.8 billion, with salaries and benefits at $32.9 billion and supply costs at $11.4 billion.
- Operational metrics showed modest shifts as same-facility admissions rose 2.3%, equivalent admissions increased 2.4%, ER visits grew 1.8%, inpatient surgeries edged up 0.4%, and outpatient surgeries dipped 0.5%.
- 2026 guidance calls for revenue of $76.5 billion to $80 billion, net income of $6.495 billion to $7.035 billion, and capital expenditures of $5 billion to $5.5 billion excluding acquisitions.
- HCA authorized an additional $10 billion share repurchase and flagged expected 2026 headwinds from health insurance exchanges ($600 million to $900 million) and a lower net benefit from supplemental payments ($250 million to $450 million).