HCA Healthcare, Inc. (HCA) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 2.01B | 2.36B | 4.42B | 4.21B | 1.65B | 2.56B | 3.52B | 1.97B | 2.47B | 2.67B | 2.48B | 2.48B | 1.8B | 2.53B | 3.02B | 1.63B | 1.34B | 2.44B | 2.28B | 2.25B |
| Operating CF Margin % | 10.54% | 12.09% | 23.05% | 22.63% | 9.01% | 14% | 20.1% | 11.27% | 14.24% | 15.45% | 15.29% | 15.6% | 11.56% | 16.31% | 20.17% | 11% | 9% | 16.22% | 14.91% | 15.59% |
| Operating CF Growth % | 21.99% | -7.82% | 25.63% | 113.6% | -33.13% | -4.3% | 41.79% | -20.36% | 36.94% | 5.82% | -17.91% | 51.84% | 34.05% | 3.44% | 32.63% | -27.59% | -32.34% | 168.18% | -16.19% | -74.19% |
| Net Income | 1.62B | 1.88B | 1.64B | 1.89B | 1.82B | 1.44B | 1.48B | 1.46B | 1.59B | 1.61B | 1.27B | 1.41B | 1.54B | 2.65B | 1.34B | 1.38B | 1.47B | 2B | 2.47B | 1.66B |
| Depreciation & Amortization | 930M | 911M | 889M | 863M | 860M | 856M | 842M | 819M | 795M | 789M | 769M | 763M | 756M | 750M | 749M | 738M | 732M | 728M | 716M | 712M |
| Stock-Based Compensation | 0 | 0 | 0 | 99M | 98M | 0 | 76M | 112M | 87M | 57M | 72M | 56M | 77M | 83M | 87M | 85M | 86M | 99M | 115M | 129M |
| Deferred Taxes | 0 | 0 | 0 | 388M | 492M | 89M | -63M | -448M | 444M | 168M | 58M | -369M | 372M | 412M | 38M | -225M | 346M | -255M | 183M | -404M |
| Other Non-Cash Items | 402M | -909M | -462M | 65M | 63M | 598M | 50M | 309M | 82M | 279M | 36M | 71M | 97M | -1.29B | 53M | 161M | 35M | -545M | -1.03B | 54M |
| Working Capital Changes | -938M | 479M | 2.35B | 904M | -1.69B | -422M | 1.13B | -282M | -530M | -226M | 269M | 542M | -1.04B | -74M | 749M | -508M | -1.32B | 411M | -183M | 96M |
| Change in Receivables | -463M | -439M | 25M | 647M | -327M | -854M | 340M | -195M | -90M | -767M | -474M | 68M | 238M | -310M | 60M | -120M | -427M | 350M | -745M | -196M |
| Change in Inventory | 80M | -29M | 302M | -67M | -360M | 150M | 252M | -145M | 77M | 148M | 27M | -87M | -214M | -112M | 515M | -341M | -121M | -207M | -120M | -128M |
| Change in Payables | -990M | 637M | 705M | 324M | 0 | 282M | 536M | 58M | -517M | 393M | 716M | 561M | -1.07B | -296M | 174M | -47M | 0 | 0 | 0 | 0 |
| Cash from Investing | -1.28B | -1.32B | -1.39B | -1.25B | -1.03B | -1.35B | -1.35B | -1.33B | -903M | -1.6B | -1.31B | -1.26B | -1.15B | -793M | -546M | -1.21B | -845M | -1.71B | 640M | -920M |
| Capital Expenditures | -1.12B | -1.49B | -1.29B | -1.18B | -991M | -1.28B | -1.19B | -1.28B | -1.12B | -1.16B | -1.15B | -1.24B | -1.2B | -1.32B | -1.13B | -1.08B | -861M | -1.19B | -889M | -842M |
| CapEx % of Revenue | 5.86% | 7.63% | 6.72% | 6.32% | 5.41% | 7.03% | 6.81% | 7.32% | 6.45% | 6.7% | 7.07% | 7.82% | 7.68% | 8.54% | 7.55% | 7.29% | 5.76% | 7.91% | 5.82% | 5.83% |
| Acquisitions | -262M | 56M | -25M | -93M | -66M | -42M | -92M | -34M | 214M | -344M | -146M | -2M | 50M | 537M | 572M | -108M | 12M | -437M | 1.56B | -66M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -4M | 44M | -49M | 18M | -3M | -19M | -69M | -1M | -1M | -12M | -19M | -14M | -4M | -7M | 13M | -17M | 4M | -85M | -31M | -12M |
| Cash from Financing | -830M | -999M | -2.97B | -3.09B | -1.5B | -2.16B | -110M | -1.09B | -1.22B | -1.04B | -1.13B | -1.2B | -725M | -1.84B | -2.32B | -1.93B | 425M | -306M | -3B | -1.24B |
| Debt Issued (Net) | 1.38B | 1.96B | -36M | -217M | 1.5B | -64M | 2.08B | 647M | 537M | 186M | 339M | 80M | 690M | 315M | -1.23B | 1.09B | 3.12B | 2.21B | -356M | 1.37B |
| Equity Issued (Net) | -1.57B | -2.56B | -2.5B | -2.5B | -2.51B | -1.7B | -1.79B | -1.37B | -1.18B | -910M | -1.14B | -915M | -846M | -1.52B | -698M | -2.68B | -2.1B | -2.07B | -2.33B | -2.29B |
| Dividends Paid | -183M | -162M | -166M | -171M | -180M | -165M | -169M | -171M | -185M | -160M | -162M | -164M | -175M | -156M | -160M | -160M | -177M | -148M | -151M | -156M |
| Share Repurchases | -1.57B | -2.56B | -2.5B | -2.5B | -2.51B | -1.7B | -1.79B | -1.37B | -1.18B | -910M | -1.14B | -915M | -846M | -1.52B | -698M | -2.68B | -2.1B | -2.07B | -2.33B | -2.29B |
| Other Financing | -453M | -239M | -267M | -196M | -310M | -234M | -231M | -202M | -388M | -155M | -169M | -199M | -394M | -478M | -225M | -170M | -417M | -291M | -167M | -172M |
| Net Change in Cash | -100M | 43M | 58M | -121M | -873M | -955M | 2.06B | -453M | 349M | 44M | 29M | 20M | -66M | -91M | 141M | -1.51B | 920M | 424M | -93M | 90M |
| Free Cash Flow | 895M | 870M | 3.13B | 3.03B | 660M | 1.27B | 2.32B | 690M | 1.35B | 1.51B | 1.33B | 1.23B | 606M | 1.2B | 1.89B | 550M | 484M | 1.25B | 1.39B | 1.41B |
| FCF Margin % | 4.68% | 4.46% | 16.32% | 16.31% | 3.6% | 6.97% | 13.29% | 3.94% | 7.79% | 8.76% | 8.22% | 7.78% | 3.89% | 7.77% | 12.62% | 3.71% | 3.24% | 8.3% | 9.09% | 9.76% |
| FCF Growth % | 35.61% | -31.71% | 34.6% | 339.71% | -51.15% | -15.91% | 74.47% | -44.08% | 122.94% | 25.83% | -29.49% | 124.36% | 25.21% | -3.76% | 36.1% | -60.97% | -63.72% | 128.88% | -37.7% | -82.34% |
| FCF per Share | 3.95 | 3.77 | 12.90 | 12.54 | 2.65 | 4.99 | 8.94 | 2.61 | 5.04 | 5.59 | 4.91 | 4.44 | 2.16 | 4.21 | 6.52 | 1.86 | 1.57 | 3.97 | 4.28 | 4.24 |
| FCF Conversion (FCF/Net Income) | 1.24x | 1.26x | 2.69x | 2.55x | 1.03x | 1.78x | 2.77x | 1.35x | 1.55x | 1.66x | 2.30x | 2.07x | 1.32x | 1.21x | 2.66x | 1.41x | 1.06x | 1.35x | 1.00x | 1.55x |
| Interest Paid | 0 | 0 | 622M | 535M | 539M | 533M | 462M | 405M | 538M | 432M | 535M | 351M | 574M | 333M | 552M | 369M | 408M | 375M | 372M | 380M |
| Taxes Paid | 0 | 0 | 81M | 136M | 10M | 358M | 487M | 998M | 1M | 316M | 297M | 766M | 7M | 244M | 322M | 606M | 3M | 836M | 502M | 0 |