HCA Healthcare (HCA) Q3 2025 Financial Results Summary

2025-10-24 · Stocks · QuoteReporter

HCA Healthcare (HCA) Q3 2025 Financial Results Summary

Nashville, Tenn., October 24, 2025 – HCA Healthcare, Inc. (NYSE: HCA) announced its financial and operating results for the third quarter ended September 30, 2025. Below is a summary of the key financial metrics and operational performance compared to the same quarter in 2024, highlighting significant changes:

Financial Summary

Revenues:
Increased by 9.6% to $19.161 billion from $17.487 billion in Q3 2024.
Net Income Attributable to HCA:
Rose by 29.4% to $1.643 billion from $1.270 billion YoY.
Diluted Earnings Per Share:
Improved by 42.6% to $6.96 compared to $4.88 in the previous year.
Adjusted diluted earnings per share also increased to $6.96.
Adjusted EBITDA:
Increased by 18.5% to $3.870 billion from $3.267 billion in Q3 2024.
Cash Flows from Operating Activities:
Totaled $4.416 billion, an increase from $3.515 billion in Q3 2024.

Operational Metrics

Same Facility Admissions:
Increased by 2.1% in Q3 2025, totaling 567,382 admissions compared to 555,707 in Q3 2024.
Same Facility Equivalent Admissions:
Increased by 2.4% to 1,008,805 from 985,269 in the previous year.
Same Facility Emergency Room Visits:
Increased by 1.3% to 2,439,405 visits from 2,408,379 YoY.
Same Facility Inpatient Surgeries:
Saw an increase of 1.4% to 136,467 from 134,623 a year prior.
Same Facility Outpatient Surgeries:
Increased by 1.1% to 248,367 from 245,600 in the prior year.
Same Facility Revenue per Equivalent Admission:
Rose by 6.6% to $18,390 compared to $17,245 in Q3 2024.

Nine-Month Performance Summary (YTD)

Revenues for Nine Months:
Increased by 7.0% to $56.087 billion from $52.318 billion in the first nine months of 2024.
Net Income Attributable to HCA (YTD):
Increased to $4.906 billion, up 13.5% from $4.322 billion.
Diluted Earnings Per Share (YTD):
Increased to $20.23, up 23.5% from $16.37 in 2024.

Balance Sheet Highlights

Cash and Cash Equivalents:
Reported at $997 million, compared to $1.933 billion at the end of Q3 2024.
Total Debt:
Stood at $44.511 billion.
Total Assets:
Reported at $59.747 billion.

Dividends and Share Repurchase

HCA Healthcare declared a quarterly cash dividend of $0.72 per share.
The dividend will be paid on December 29, 2025, to stockholders of record on December 15, 2025.
During the third quarter, HCA repurchased 6.514 million shares of its common stock at a cost of $2.498 billion.

2025 Guidance Update

Revised Revenue Guidance: Increased to a range of $75.000 to $76.500 billion from the previous $74.000 to $76.000 billion.
Net Income Guidance: Updated to $6.495 to $6.715 billion.
Adjusted EBITDA Guidance: Revised to $15.250 to $15.650 billion.
EPS Guidance: Adjusted to a range of $27.00 to $28.00 per diluted share.

Conclusion

HCA Healthcare’s third-quarter results reflect solid growth in both revenue and profitability metrics, along with strategic share repurchase and a dividend declaration, signaling continued strength and operational efficiency within the organization. All metrics show a positive trajectory compared to the same quarter last year.

Here are the extracted tables from the press release:

HCA Healthcare, Inc. Condensed Consolidated Comprehensive Income Statements Third Quarter Unaudited (Dollars in millions, except per share amounts)

	2025	Ratio	2024	Ratio
Revenues	$19,161	100.0 %	$17,487	100.0 %
Salaries and benefits	8,364	43.6	7,861	45.0
Supplies	2,782	14.5	2,657	15.2
Other operating expenses	4,161	21.8	3,717	21.2
Equity in earnings of affiliates	(16)	(0.1)	(15)	(0.1)
Depreciation and amortization	889	4.7	842	4.9
Interest expense	561	2.9	515	2.9
Losses on sales of facilities	2	—	4	—
	16,743	87.4	15,581	89.1
Income before income taxes	2,418	12.6	1,906	10.9
Provision for income taxes	515	2.7	424	2.4
Net income	1,903	9.9	1,482	8.5
Net income attributable to	260	1.3	212	1.2
noncontrolling interests
Net income attributable to HCA	$1,643	8.6	$1,270	7.3
Healthcare, Inc.
Diluted earnings per share	$6.96		$4.88
Shares used in computing diluted	236.181		259.917
earnings per share (millions)
Comprehensive income attributable to HCA	$1,635		$1,325
Healthcare, Inc.

HCA Healthcare, Inc. Condensed Consolidated Balance Sheets Unaudited (Dollars in millions)

ASSETS	September 30, 2025	June 30, 2025	December 31, 2024
Current assets:
Cash and cash equivalents	$997	$939	$1,933
Accounts receivable	10,428	10,459	10,751
Inventories	1,734	1,792	1,738
Other	2,126	2,373	1,992
	15,285	15,563	16,414
Property and equipment, at cost	65,489	64,388	62,514
Accumulated depreciation	(34,921)	(34,265)	(33,100)
	30,568	30,123	29,414
Investments of insurance subsidiaries	573	531	569
Investments in and advances to affiliates	654	654	662
Goodwill and other intangible assets	10,275	10,273	10,093
Right-of-use operating lease assets	2,115	2,156	2,131
Other	277	236	230
	$59,747	$59,536	$59,513
LIABILITIES AND STOCKHOLDERS’ (DEFICIT)
EQUITY
Current liabilities:
Accounts payable	$4,552	$4,250	$4,276
Accrued salaries	2,294	2,072	2,304
Other accrued expenses	4,940	4,513	3,899
Short-term borrowings and long-term debt due within one year	6,110	5,104	4,698
	17,896	15,939	15,177
Long-term debt, less debt issuance costs and discounts	38,401	39,379	38,333
Professional liability risks	1,462	1,506	1,544
Right-of-use operating lease obligations	1,838	1,881	1,863
Income taxes and other liabilities	2,309	2,069	2,041
Stockholders’ (deficit) equity:
Stockholders’ deficit attributable to	(5,335)	(4,394)	(2,499)
HCA Healthcare, Inc.
Noncontrolling interests	3,176	3,156	3,054
	(2,159)	(1,238)	555
	$59,747	$59,536	$59,513