HCA Healthcare (HCA)财务
NYSE · Healthcare · Medical - Care Facilities · 员工320,000人 · CEO Samuel N. Hazen
- 股价
- $473.19 -1.02%
- 市值
- $1020亿
- 企业价值
- $1540亿
- 最近财报
- Q3 '26 2026-10-29提交
- 下次财报
- 2027-01-26 EPS预期 $8.15
营收(TTM)$787亿+5.8% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)15.3%-0.3 百分点 对比去年同期营业利润 $121亿
净利润(TTM)$67.8亿+6.8% 对比去年同期税后,含营业外收益
自由现金流(TTM)$59.7亿-26.2% 对比去年同期资本支出 $52亿
稀释EPS(TTM)$30.18+16.7% 对比去年同期最近4个季度之和
净现金-$515亿-13.6% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1020亿 EV $1540亿
- 营收
- $787亿 过去12个月
- 营收增速
- +5% FY2026年一致预期
- 净利润率
- 8.6% 净利润 / 营收,TTM
- P/E
- 57.4× 预期 15.8×(FY2026)
- P/S
- 1.3× 股价 / 营收,TTM
- EV / EBITDA
- 9.7× TTM
- 自由现金流
- $59.7亿 过去12个月
- 净利润
- $67.8亿 过去12个月
- 营收预期
- $791亿 FY2026年一致预期
- 盈利
- 2027-01-26 营收预期 $200亿
- 股息
- $3.06 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-27):营收超预期2.7%,EPS 超预期8.6%营收$198亿,预期$193亿(+2.7%);EPS $7.22,预期$6.65(+8.6%)。
- 营收增长放缓:同比3.6%Q3 '26营收$198亿,此前四个季度的平均值为7.3%。
- 营业利润率15.3%(TTM),较去年同期-0.3 百分点营收增长5.8%,营业利润增长3.8%。
- 税前利润的22.9%被营业外亏损吞噬税前利润$98.2亿,营业利润$121亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的6.6%(去年为6.4%)最近4个季度投入$52亿(同比+9.6%)。自由现金流$59.7亿,相当于净利润的88.1%。
- 股东回报$98.4亿 = 自由现金流的164.8%回购$91.6亿(去年为$92.1亿),股息$6.81亿,股权激励$0(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少10.4%Q3 '26稀释股数2.17亿,一年前为2.42亿。
- 净债务 $515亿现金 + 短期投资 $9.08亿,含租赁债务 $524亿;一年前净债务 $454亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $198亿 | $192亿 | +3.6% |
| 毛利率 | 14.9% | 41.8% | -26.9 百分点 |
| 营业利润 | $29.6亿 | $29.7亿 | 0.0% |
| 营业利润率 | 14.9% | 15.5% | -0.5 百分点 |
| 净利润 | $15.8亿 | $16.4亿 | -3.9% |
| 稀释EPS | $7.27 | $6.96 | +4.5% |
| 经营现金流 | $44.6亿 | $44.2亿 | +1.0% |
| 资本支出 | $13.6亿 | $12.9亿 | +5.4% |
| 自由现金流 | $31亿 | $31.3亿 | -0.8% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $0 | $0 | – |
实际 vs 一致预期
2026-10-27| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $198亿 | $193亿 | +2.7% |
| EPS(一致预期口径) | $7.22 | $6.65 | +8.6% |
来自2026-10-27发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Managed Care And Other Insurers | $95.7亿 | +3.3% | 49.7% | $372亿 | +1.1% | |
| Managed Medicare | $35.3亿 | +6.8% | 18.3% | $139亿 | +6.8% | |
| Medicare | $29.3亿 | +7.2% | 15.2% | $118亿 | +5.3% | |
| Medicaid | $17.7亿 | -1.0% | 9.2% | $74.9亿 | +29.8% | |
| Managed Medicaid | $9.61亿 | +1.3% | 5.0% | $38.6亿 | +5.4% | |
| International | $4.92亿 | +1.7% | 2.6% | $19.6亿 | +7.5% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Atlantic Group | $64.2亿 | +4.5% | 33.8% | $266亿 | +8.1% | |
| American Group | $68.5亿 | +2.4% | 36.0% | $269亿 | +2.8% | |
| National Group | $57.4亿 | +3.9% | 30.2% | $218亿 | +4.3% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $112亿
- 资本支出
- -$52亿
- 股票回购
- -$91.6亿
- 股息
- -$6.81亿
- 收购
- -$7.79亿
- 债务净发行
- $57.3亿
- 股权激励费用
- $0
- 自由现金流
- $59.7亿
- 股东回报 / FCF
- 164.8%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 57.4× | 13.6× | 11.9× – 16.3× |
| EV / EBITDA | 9.7× | 8.9× | 8.2× – 10.1× |
| EV / 营收 | 2.0× | 1.9× | 1.7× – 2.1× |
| 股价 / FCF | 17.2× | 15.2× | 13.8× – 16.9× |
| 股价 / 净资产 | -13.0× | – | – |
| FCF收益率 | 5.8% | 6.6% | 5.9% – 7.3% |
| 投入资本回报率 | 18.5% | 17.3% | 16.4% – 18.5% |
| 净资产收益率 | -100.5% | -317.6% | -745.6% – -112.6% |
分析师
一致目标价 $463.12 (-2.1%)
区间 $369.00 – $579.00 · 评级 Buy
强烈买入0
买入29
持有15
卖出2
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $791亿 | +4.6% | $30.02 | +5.8% | 15.8× | 14 |
| FY2027 | $816亿 | +3.2% | $31.35 | +4.4% | 15.1× | 16 |
| FY2028 | $853亿 | +4.5% | $34.92 | +11.4% | 13.6× | 12 |
| FY2029 | $909亿 | +6.6% | $39.12 | +12.0% | 12.1× | 9 |
| FY2030 | $963亿 | +6.0% | $44.62 | +14.1% | 10.6× | 5 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
HCA Healthcare, Inc.在近期10-Q / 10-K文件中标记的全部237项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $51亿 | $45.5亿 | +12.1% | $46.6亿 | $42.8亿 | +9.0% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $115亿 | $104亿 | +10.4% | $109亿 | $108亿 | +1.1% |
| Accrual for Taxes Other than Income Taxes, Current | $5.04亿2025-12-31 | $4.19亿 | +20.3% | $5.04亿 | $4.19亿 | +20.3% |
| Accrued Employee Benefits, Current | $2.16亿2025-12-31 | $2.06亿 | +4.9% | $2.16亿 | $2.06亿 | +4.9% |
| Accrued Salaries, Current | $23.7亿 | $22.9亿 | +3.4% | $25.3亿 | $23亿 | +9.6% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $374亿 | $349亿 | +7.0% | $351亿 | $331亿 | +6.1% |
| Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax | $500万 | -$1300万 | +138.5% | $500万 | -$1300万 | +138.5% |
| Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | -$3.35亿 | -$2.92亿 | -14.7% | -$2.99亿 | -$3.53亿 | +15.3% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$3.5亿 | -$3.17亿 | -10.4% | -$3.05亿 | -$3.87亿 | +21.2% |
| Amortization of Debt Issuance Costs | – | – | – | $4400万 | $3500万 | +25.7% |
| Amortization of Debt Issuance Costs and Discounts | $1100万 | $700万 | +57.1% | $4400万 | $3500万 | +25.7% |
| Amortization of Intangible Assets | – | – | – | $1200万 | $1600万 | -25.0% |
| AOCI, Debt Securities, Available-for-sale, Adjustment, after Tax | -$2000万 | -$1200万 | -66.7% | -$1100万 | -$2100万 | +47.6% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $1.73亿 | $1.23亿 | +40.7% | – | – | – |
| Assets | $635亿 | $597亿 | +6.2% | $607亿 | $595亿 | +2.0% |
| Assets, Current | $162亿 | $153亿 | +6.1% | $158亿 | $164亿 | -3.8% |
| Buildings and Improvements, Gross | $237亿2025-12-31 | $227亿 | +4.6% | $237亿 | $227亿 | +4.6% |
| Cash and Cash Equivalents, at Carrying Value | $9.08亿 | $9.97亿 | -8.9% | $10.4亿 | $19.3亿 | -46.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $9.08亿 | $9.97亿 | -8.9% | $10.4亿 | $19.3亿 | -46.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$1.05亿 | $5800万 | -281.0% | -$8.93亿 | $9.98亿 | -189.5% |
| Common Stock, Dividends, Per Share, Declared | $0.78 | $0.72 | +8.3% | $2.88 | $2.64 | +9.1% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 18亿 | 18亿 | 0.0% | 18亿 | 18亿 | 0.0% |
| Common Stock, Shares, Outstanding | 2.11亿 | 2.3亿 | -8.3% | 2.25亿 | 2.5亿 | -10.2% |
| Common Stock, Value, Outstanding | $200万 | $200万 | 0.0% | $200万 | $300万 | -33.3% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $2.7亿 | $2.6亿 | +3.8% | $9.98亿 | $8.97亿 | +11.3% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $15.6亿 | $16.4亿 | -4.4% | $68.7亿 | $58亿 | +18.4% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $18.3亿 | $19亿 | -3.3% | $78.6亿 | $67亿 | +17.5% |
| Construction in Progress, Gross | $21.5亿2025-12-31 | $18.6亿 | +15.4% | $21.5亿 | $18.6亿 | +15.4% |
| Costs and Expenses | $175亿 | $167亿 | +4.4% | $658亿 | $621亿 | +5.9% |
| Current Federal Tax Expense (Benefit) | – | – | – | $15.5亿 | $12亿 | +29.0% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1300万 | $2000万 | -35.0% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $2.48亿 | $2.12亿 | +17.0% |
| Debt Issuance Costs, Net | $4.39亿 | $4.16亿 | +5.5% | $4.36亿 | $3.69亿 | +18.2% |
| Debt Issuance Costs, Noncurrent, Net | $4.39亿 | $4.16亿 | +5.5% | $4.36亿 | $3.69亿 | +18.2% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10 | $6800万 | $6000万 | +13.3% | $5700万 | $6500万 | -12.3% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $9100万 | $1.14亿 | -20.2% | $1.11亿 | $1.47亿 | -24.5% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $1.47亿 | $1.51亿 | -2.6% | $1.45亿 | $1.45亿 | 0.0% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $3600万 | $1800万 | +100.0% | $2900万 | $3100万 | -6.5% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | $6300万 | $5700万 | +10.5% | $5500万 | $6000万 | -8.3% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $8200万 | $1.07亿 | -23.4% | $1.04亿 | $1.3亿 | -20.0% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $1.36亿 | $1.47亿 | -7.5% | $1.4亿 | $1.4亿 | 0.0% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $3600万 | $1700万 | +111.8% | $2900万 | $3100万 | -6.5% |
| Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Fair Value | $3.17亿 | $3.28亿 | -3.4% | $3.28亿 | $3.61亿 | -9.1% |
| Debt Securities, Available-for-sale, Noncurrent | $4.63亿 | $5.73亿 | -19.2% | $4.85亿 | $5.69亿 | -14.8% |
| Debt, Current | $80.9亿 | $61.1亿 | +32.5% | $48.9亿 | $47亿 | +4.1% |
| Debt, Long-term and Short-term, Combined Amount | $505亿 | $445亿 | +13.4% | $465亿 | $430亿 | +8.0% |
| DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss | $3.42亿 | $3.43亿 | -0.3% | $3.42亿 | $3.88亿 | -11.9% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $2.01亿 | $3.94亿 | -49.0% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $600万 | $700万 | -14.3% |
| Deferred Income Taxes and Tax Credits | -$1.71亿 | $4.34亿 | -139.4% | $3.1亿 | $2200万 | +1,309.1% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $3100万 | $3100万 | 0.0% |
| Deferred Tax Assets, Net of Valuation Allowance | $19.3亿2025-12-31 | $18.7亿 | +3.2% | $19.3亿 | $18.7亿 | +3.2% |
| Deferred Tax Assets, Operating Loss Carryforwards, State and Local | $2400万2025-12-31 | $1.67亿 | -85.6% | $2400万 | $1.67亿 | -85.6% |
| Deferred Tax Assets, Other | $2.68亿2025-12-31 | $2.97亿 | -9.8% | $2.68亿 | $2.97亿 | -9.8% |
| Deferred Tax Assets, Property, Plant and Equipment | $02025-12-31 | $0 | – | $0 | $0 | – |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | $3.22亿2025-12-31 | $2.85亿 | +13.0% | $3.22亿 | $2.85亿 | +13.0% |
| Deferred Tax Liabilities, Gross | $28.5亿2025-12-31 | $25.3亿 | +12.6% | $28.5亿 | $25.3亿 | +12.6% |
| Deferred Tax Liabilities, Other | $10.4亿2025-12-31 | $9.32亿 | +11.2% | $10.4亿 | $9.32亿 | +11.2% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $13.6亿2025-12-31 | $11.4亿 | +19.1% | $13.6亿 | $11.4亿 | +19.1% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-01