HCA · 10-Q · 2026Q3

HCA Healthcare, Inc.

Filed 2026-10-29 · Healthcare · View original filing on EDGAR

Everything HCA's SEC filings said, ranked

Ranked Events

• Regulatory RiskImportance 79 · Surprise 66
  The expiration of enhanced premium tax credits (EPTCs) at the end of 2025 and administrative reforms affecting insurance purchased through the Exchanges reduced HCA’s managed-care and insurer revenues in the quarter…
• Capital Expenditures ProgramImportance 69 · Surprise 56
  Capital expenditures, excluding acquisitions, were $3.707 billion in the first nine months of 2026, up from $3.455 billion in the same period of 2025. HCA expected 2026 capital expenditures, excluding acquisitions, of…
• Uninsured Patient TrendsImportance 67 · Surprise 66
  Consolidated and same-facility uninsured admissions increased 27.2% and 27.4%, respectively, in the third quarter of 2026 year over year. Same-facility uninsured admissions rose 23.4% in the second quarter and 15.5% in…
• Outstanding IndebtednessImportance 56 · Surprise 24
  Total debt was $50.493 billion at September 30, 2026, including $6.027 billion of variable-rate debt and $44.466 billion of fixed-rate debt. In April 2026, HCA issued $3.0 billion of senior notes due in 2031, 2033, and…
• Geographic Revenue ConcentrationImportance 56 · Surprise 24
  At September 30, 2026, HCA operated 103 hospitals in Texas and Florida. Those hospitals generated 58% of admissions and 51% of revenue in the third quarter of 2026. Texas and Florida accounted for 73% of the company’s…
• Inflationary Cost PressuresImportance 54 · Surprise 40
  HCA reported that inflation negatively affected certain operating expenses and expects inflationary pressures to continue. Other operating expenses increased to 23.3% of revenues for the first nine months of 2026 from…
• Capital Return ProgramImportance 47 · Surprise 22
  HCA repurchased $6.605 billion of common stock during the first nine months of 2026, compared with $7.509 billion in the first nine months of 2025. It repurchased 15.139 million shares during the first nine months of…
• Liquidity and Cash PositionImportance 42 · Surprise 40
  Cash provided by operating activities declined $1.467 billion to $8.810 billion for the first nine months of 2026 from $10.277 billion a year earlier. The decline reflected $472 million of unfavorable working-capital…
• Operating Expense TrendsImportance 42 · Surprise 40
  Other operating expenses increased to $13.771 billion for the first nine months of 2026 from $11.799 billion, and rose to 23.3% of revenue from 21.0%. The increase of 2.3 percentage points was primarily related to…
• Procedure Volume TrendsImportance 37 · Surprise 32
  Third-quarter consolidated admissions increased 2.5% and same-facility admissions increased 2.7% year over year; equivalent admissions rose 2.8% and 3.0%, respectively. Inpatient surgical volumes declined 1.3%…
• Revenue Performance and MixImportance 37 · Surprise 32
  Third-quarter 2026 revenue increased 3.6% year over year to $19.849 billion, driven by a 2.8% increase in equivalent admissions and a 0.7% increase in revenue per equivalent admission. Nine-month revenue rose 5.5% to…
• Operating Income and MarginsImportance 31 · Surprise 32
  Nine-month income before income taxes was $7.151 billion, down 0.1% year over year, while revenue increased 5.5% to $59.188 billion. Total operating costs and other expenses represented 87.9% of revenue, compared with…
• Income Tax Rate ChangesImportance 18 · Surprise 14
  The effective tax rate for the third quarter of 2026 increased to 24.8% from 23.9% in the third quarter of 2025. HCA attributed the quarterly increase primarily to lower deductible share-based compensation for vested…

Revenue by Product (in millions)