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HCA Healthcare Inc

HCA Healthcare Inc

HCA
$371.18USD↓-3.77%-14.56 today

MARKET CAP

82.3B

P/E (TTM)

12.4x

FWD P/E

11.6x

DAY RANGE

$371 – $386

52W RANGE

$330
$557

AI Summary

Stalk
StalkMedium

HCA is in a Stage 2 – Advancing (Corrective Reset) within a long-term uptrend. A Momentum Breakout in early July confirms new demand overwhelming prior supply, supporting a Bullish medium-term bias and invalidating prior bearish posture. However, short-term execution conditions are Neutral as price consolidates around EMAs. We will Stalk for a pullback into the broken resistance zone (~386–390 area) and look for acceptance above EMAs before committing.

  • ↑Q1 revenue up 4.3% YoY to $15.6B, led by state supplemental programs
  • ↑Operating cash flow increased 22% YoY to $2B, highlighting efficiency
  • ↓Leverage elevated, exposing HCA to higher interest costs as rates rise
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The case for & against

Bull & Bear analysis

Bullish

HCA Healthcare, Inc. (NYSE: HCA) is a leading provider of healthcare services in the United States, operating a substantial network of hospitals and outpatient centers. The company is committed to delivering quality, patient-centered care across various medical services, leveraging advanced technologies and extensive capital investments. HCA is positioned prominently in the healthcare sector, focused on key themes such as operational efficiency and expansion into outpatient services amid a dynamic regulatory environment.

Bull says

  • ↑Q1 revenue up 4.3% YoY to $15.6B, led by state supplemental programs
  • ↑Operating cash flow increased 22% YoY to $2B, highlighting efficiency
  • ↑Investing $400M in resiliency plan and advancing AI-driven digital strategy
  • ↑Guiding 2–3% volume growth for 2026 and executing ongoing share buybacks
  • ↑Expanding outpatient network and strategic acquisitions to meet patient demand
  • ↑High earnings yield and strong profitability support valuation upside

Bear says

  • ↓Leverage elevated, exposing HCA to higher interest costs as rates rise
  • ↓Negative growth momentum and adverse revisions warn of slowing top-line gains
  • ↓Potential cuts to Medicaid supplemental payments threaten state-funded revenue benefits
  • ↓Payer mix shifts and declining Medicaid volumes could pressure future revenue
  • ↓Regulatory uncertainty around federal health policies may disrupt reimbursement models
  • ↓Labor shortages and wage inflation risk compressing operating margins

Investment themes with HCA

Buybacks↑ +0.48%

Companies repurchasing their own shares

C · JCI · WFC
Health Care Providers↓ -0.61%

UNH · CVS · HCA

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 04-24-2026neutral

Transcript signals

Bull points

  • Taking all of this into consideration, our volume growth in the quarter was generally in line with our 2% to 3% volume growth assumption for the year, albeit at the lower end of the range.
  • We continue to feel positive about the prospects for the approval of the Florida program, which covers the period of October 1, 2024 to September 30, 2025. If approved, We believe it should result in additional revenues, which may be significant.
  • Cash flow from operations was $2 billion in the quarter, representing a 22% increase in the first quarter of 2026, versus the prior year quarters.

Bear points

  • Adjusted EBITDA margin decreased 50 basis points versus prior year quarter.
  • We are adjusting our full year range to reflect the decline in supplemental payment program net benefit between $50 million to $250 million versus prior year.
  • But the quick ramp down of the respiratory volume, as well as the winter storm, delayed our ability to flex down our seasonal costs in the quarter.
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