Financials HCA Healthcare, Inc.

Equities

HCA

US40412C1018

Healthcare Facilities & Services

Market Closed - Nyse Other stock markets 04:00:02 2024-04-26 pm EDT			5-day change	1st Jan Change
306.7 ^USD	-2.37%		+0.52%	+13.30%

Apr. 26	Transcript : HCA Healthcare, Inc., Q1 2024 Earnings Call, Apr 26, 2024
Apr. 26	HCA Healthcare's Q1 Earnings, Revenue Rise; Maintains 2024 Guidance, Quarterly Dividend	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	50,134	55,649	79,908	67,841	72,450	81,119	-	-
Enterprise Value (EV) ¹	83,235	84,860	113,036	105,017	111,108	120,463	119,629	119,944
P/E ratio	14.7 x	15 x	12.1 x	12.5 x	14.3 x	14.9 x	13.4 x	12 x
Yield	1.1%	0.26%	0.75%	0.93%	-	0.86%	0.91%	0.95%
Capitalization / Revenue	0.98 x	1.08 x	1.36 x	1.13 x	1.12 x	1.17 x	1.11 x	1.06 x
EV / Revenue	1.62 x	1.65 x	1.92 x	1.74 x	1.71 x	1.74 x	1.64 x	1.56 x
EV / EBITDA	8.44 x	8.45 x	8.94 x	8.7 x	8.73 x	9.07 x	8.53 x	8.09 x
EV / FCF	24.2 x	13.3 x	21 x	33.9 x	23.7 x	26.3 x	26.5 x	23.4 x
FCF Yield	4.14%	7.54%	4.76%	2.95%	4.22%	3.81%	3.77%	4.27%
Price to Book	-18.3 x	98.8 x	-90.5 x	-25.6 x	-	-45.6 x	-321 x	82.2 x
Nbr of stocks (in thousands)	339,178	338,375	311,023	282,717	267,661	264,499	-	-
Reference price ²	147.8	164.5	256.9	240.0	270.7	306.7	306.7	306.7
Announcement Date	1/28/20	2/2/21	1/27/22	1/27/23	1/30/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	51,336	51,533	58,752	60,233	64,968	69,115	72,861	76,861
EBITDA ¹	9,857	10,037	12,644	12,067	12,726	13,286	14,024	14,831
EBIT ¹	7,261	7,316	9,791	9,098	9,649	10,043	10,644	11,243
Operating Margin	14.14%	14.2%	16.66%	15.1%	14.85%	14.53%	14.61%	14.63%
Earnings before Tax (EBT) ¹	5,244	5,430	9,833	8,580	7,706	8,002	8,537	9,063
Net income ¹	3,505	3,754	6,956	5,643	5,242	5,416	5,868	6,256
Net margin	6.83%	7.28%	11.84%	9.37%	8.07%	7.84%	8.05%	8.14%
EPS ²	10.07	10.93	21.16	19.15	18.97	20.54	22.92	25.55
Free Cash Flow ¹	3,444	6,397	5,382	3,102	4,687	4,588	4,516	5,118
FCF margin	6.71%	12.41%	9.16%	5.15%	7.21%	6.64%	6.2%	6.66%
FCF Conversion (EBITDA)	34.94%	63.73%	42.57%	25.71%	36.83%	34.53%	32.2%	34.51%
FCF Conversion (Net income)	98.26%	170.4%	77.37%	54.97%	89.41%	84.71%	76.96%	81.8%
Dividend per Share ²	1.630	0.4300	1.920	2.240	-	2.627	2.793	2.903
Announcement Date	1/28/20	2/2/21	1/27/22	1/27/23	1/30/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	15,276	15,064	14,945	14,820	14,971	15,497	15,591	15,861	16,213	17,303	17,339	16,963	17,198	18,247	17,648
EBITDA ¹	3,224	3,149	2,944	3,042	2,902	3,179	3,172	3,056	2,880	3,618	3,353	3,234	3,081	3,706	3,428
EBIT ¹	2,508	2,421	2,212	2,304	2,153	2,429	2,416	2,293	2,111	2,829	2,558	2,426	2,282	2,869	2,597
Operating Margin	16.42%	16.07%	14.8%	15.55%	14.38%	15.67%	15.5%	14.46%	13.02%	16.35%	14.75%	14.3%	13.27%	15.73%	14.71%
Earnings before Tax (EBT) ¹	3,157	2,586	1,814	1,760	1,704	3,302	1,922	1,809	1,630	2,345	2,247	1,918	1,762	2,380	2,079
Net income ¹	2,269	1,814	1,273	1,155	1,134	2,081	1,363	1,193	1,079	1,607	1,591	1,286	1,179	1,602	1,470
Net margin	14.85%	12.04%	8.52%	7.79%	7.57%	13.43%	8.74%	7.52%	6.66%	9.29%	9.18%	7.58%	6.86%	8.78%	8.33%
EPS ²	7.000	5.750	4.140	3.900	3.910	7.280	4.850	4.290	3.910	5.930	5.930	4.863	4.489	6.188	5.686
Dividend per Share ²	0.4800	0.4800	0.5600	0.5600	0.5600	0.5600	0.6000	0.6000	0.6000	-	0.6568	0.6571	0.6576	0.6680	0.7121
Announcement Date	10/22/21	1/27/22	4/22/22	7/22/22	10/21/22	1/27/23	4/21/23	7/27/23	10/24/23	1/30/24	4/26/24	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	33,101	29,211	33,128	37,176	38,658	39,343	38,510	38,825
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.358 x	2.91 x	2.62 x	3.081 x	3.038 x	2.961 x	2.746 x	2.618 x
Free Cash Flow ¹	3,444	6,397	5,382	3,102	4,687	4,588	4,516	5,118
ROE (net income / shareholders' equity)	-	-	352%	-	-	108%	54.1%	37.4%
ROA (Net income/ Total Assets)	8.32%	8.11%	14.2%	10.9%	9.46%	9.56%	10.4%	10.5%
Assets ¹	42,127	46,274	49,116	51,590	55,400	56,645	56,178	59,376
Book Value Per Share ²	-8.060	1.660	-2.840	-9.390	-	-6.720	-0.9600	3.730
Cash Flow per Share ²	21.80	26.90	27.30	28.90	34.10	35.40	36.60	39.80
Capex ¹	4,158	2,835	3,577	4,395	4,744	5,152	5,286	5,555
Capex / Sales	8.1%	5.5%	6.09%	7.3%	7.3%	7.45%	7.25%	7.23%
Announcement Date	1/28/20	2/2/21	1/27/22	1/27/23	1/30/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for HCA Healthcare, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

306.7 USD

Average target price

341.2 USD

Spread / Average Target

+11.25%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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