HCA Healthcare balance sheet

At the end of fiscal 2025, HCA Healthcare had total assets of $60.72bn and shareholders' equity of −$6.03bn. It held $1.04bn in cash against $46.93bn of debt: net debt of $45.89bn.

Balance sheet

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

HCA Healthcare: balance sheet, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Cash and equivalents	0.6	0.7	0.5	0.6	1.8	1.5	0.9	0.9	1.9	1.0	0.9
Receivables	5.8	6.5	6.8	7.4	7.1	8.1	8.9	10.0	10.8	10.9	11.5
Inventory	1.5	1.6	1.7	1.8	2.0	2.0	2.1	2.0	1.7	1.7	1.7
Total current assets	9.1	10.0	10.2	11.2	12.3	13.5	13.6	14.9	16.4	15.8	16.2
Total assets	33.8	36.6	39.2	45.1	47.5	50.7	52.4	56.2	59.5	60.7	63.5
Accounts payable	2.3	2.6	2.6	2.9	3.5	4.1	4.2	4.2	4.3	4.7	5.1
Deferred revenue (current)	—	—	—	0.0	—	—	—	—	—	—	—
Total current liabilities	5.8	6.2	7.6	7.8	8.7	9.6	9.9	12.7	15.2	16.4	19.8
Short-term debt	0.2	0.2	0.8	0.1	0.2	0.2	0.4	2.4	4.7	4.9	8.1
Long-term debt	31.2	32.9	32.0	33.6	30.8	34.3	37.7	37.2	38.3	41.6	42.4
Total debt	31.5	33.2	33.0	34.0	31.2	34.8	38.4	39.9	43.4	46.9	50.9
Total liabilities	39.4	41.6	42.1	45.6	—	—	—	—	—	—	—
Shareholders' equity	−7.3	−6.8	−5.0	−2.8	0.6	−0.9	−2.8	−1.8	−2.5	−6.0	−8.1
Non-controlling interests and other (assets − liabilities − equity)	1.7	1.8	2.0	2.2	—	—	—	—	—	—	—
Net debt (negative = net cash)	30.9	32.5	32.5	33.3	29.4	33.4	37.5	39.0	41.5	45.9	50.0
Shares outstanding	371m	350m	343m	338m	339m	305m	277m	266m	250m	225m	211m

US$ billions unless shown otherwise. Fiscal quarters.

HCA Healthcare: balance sheet, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Receivables	10.8	11.1	10.5	10.4	10.9	11.3	12.3	11.5
Inventory	1.7	1.8	1.8	1.7	1.7	1.7	1.7	1.7
Total current assets	16.4	16.3	15.6	15.3	15.8	16.1	17.2	16.2
Total assets	59.5	59.8	59.5	59.7	60.7	61.5	63.3	63.5
Accounts payable	4.3	4.5	4.3	4.6	4.7	4.8	4.8	5.1
Total current liabilities	15.2	13.6	15.9	17.9	16.4	19.3	17.3	19.8
Short-term debt	4.7	3.5	5.1	6.1	4.9	8.5	6.3	8.1
Long-term debt	38.3	41.1	39.4	38.4	41.6	39.5	43.5	42.4
Total debt	43.0	44.6	44.5	44.5	46.5	48.0	49.7	50.5
Shareholders' equity	−2.5	−3.5	−4.4	−5.3	−6.0	−6.3	−6.6	−8.1
Shares outstanding	250m	243m	236m	230m	225m	223m	218m	211m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from HCA Healthcare's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to HCA Healthcare.