Analysis of Revenues
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- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2011
- Price to Book Value (P/BV) since 2011
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Revenues as Reported
HCA Healthcare Inc., income statement, revenues
US$ in millions
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
- Overall Revenue Trend
- The total revenue demonstrated consistent growth from 2017 to 2021, increasing from $43,614 million in 2017 to $58,752 million in 2021. This reflects a substantial increase over the five-year period, indicating expanding business operations or increased service demand.
- Medicare Revenue
- Medicare revenue showed growth from 2017 through 2019, rising from $9,285 million to $10,798 million. However, it experienced a slight decline in 2020 to $10,420 million and then remained relatively stable with a marginal increase to $10,447 million in 2021.
- Managed Medicare
- Managed Medicare revenue exhibited strong and steady growth each year, increasing from $4,680 million in 2017 to $8,424 million in 2021. The growth rates suggest an increasing market share or customer base within the managed Medicare segment.
- Medicaid Revenue
- Medicaid revenues also increased consistently, from $1,316 million in 2017 to $2,290 million in 2021. Notably, the growth accelerated in 2020 and 2021, reflecting either expanded enrollment or increased reimbursement rates.
- Managed Medicaid
- Managed Medicaid followed a similar growth pattern, rising from $2,165 million in 2017 to $3,124 million in 2021. This steady increase indicates a successful expansion in managed care services related to Medicaid beneficiaries.
- Managed Care and Other Insurers
- This category maintained the highest revenue level among segments, increasing from $23,342 million in 2017 to $30,295 million in 2021. While the growth was gradual through 2019, revenues plateaued in 2020 before rebounding strongly in 2021.
- International Managed Care and Other Insurers
- International managed care revenues remained relatively flat between 2017 and 2020, fluctuating slightly around the $1,100 million mark. A modest increase to $1,336 million in 2021 suggests slow but positive growth in international markets.
- Other Revenues
- Revenues classified as 'Other' showed variability, increasing from $1,729 million in 2017 to a peak of $2,358 million in 2019, followed by a decline in 2020 to $1,875 million and a rebound in 2021 to $2,836 million. This volatility may indicate fluctuations in ancillary services or non-core business activities.