HCA (HCA)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $90.8B, HCA's free cash flow of $7.7B (fiscal 2025) would need to grow about -2% a year for the stock to be worth today's price. That is slower than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from HCA's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from HCA's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from HCA's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $58.8B | $60.2B | $65.0B | $70.6B | $75.6B |
| Net income | $7.0B | $5.6B | $5.2B | $5.8B | $6.8B |
| Free cash flow | $5.4B | $4.1B | $4.7B | $5.6B | $7.7B |
| EPS (diluted) | $21.16 | $19.15 | $18.97 | $22.00 | $28.33 |
| Operating margin | 16.7% | 14.2% | 11.9% | 12.1% | 13.0% |
Where the revenue comes from
Revenue by segments, fiscal 2023.
Superinvestors who own HCA
From each investor's latest 13F filing (what a 13F shows). 12 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Jean-Marie Eveillard First Eagle Investment Management |
Added | $1.3B | 2.1% | Q2 2026 |
| Andrew Wellington Lyrical Asset Management |
Trimmed | $255M | 3.2% | Q2 2026 |
| Charles Brandes Brandes Investment Partners, LP |
Trimmed | $121M | 0.85% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Trimmed | $88M | 0.03% | Q2 2026 |
| Bill Nygren Harris Associates LP |
Trimmed | $60M | 0.08% | Q2 2026 |
| Richard Pzena Pzena Investment Management |
Added | $38M | 0.11% | Q2 2026 |
| Tom Gayner Markel Group Inc. |
Added | $33M | 0.25% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Trimmed | $22M | 0.05% | Q2 2026 |
| Ric Dillon Diamond Hill Capital Management |
Added | $20M | 0.16% | Q2 2026 |
| Mario Gabelli GAMCO Investors |
Trimmed | $11M | 0.10% | Q2 2026 |
| Glenn Greenberg Brave Warrior Advisors |
Added | $2M | 0.04% | Q2 2026 |
| Hersh Cohen ClearBridge Investments |
New position | $249,919 | 0.0% | Q2 2026 |
Insider buying
Open-market purchases by HCA's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
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In the full deep dive
Questions
What growth does HCA's stock price imply?
At a market value of $90.8B, HCA would need its free cash flow to grow about -2% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 11% a year.
Are HCA insiders buying the stock?
No open-market insider purchases of HCA in the last 12 months, according to SEC Form 4 filings.
Which superinvestors own HCA?
12 of the superinvestors Investingly tracks hold HCA in their latest 13F, including Jean-Marie Eveillard, Andrew Wellington, Charles Brandes.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.