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HCA Healthcare Inc. (NYSE:HCA)

This company has been moved to the archive! The financial data has not been updated since May 3, 2022.

Common-Size Balance Sheet: Assets
Quarterly Data

HCA Healthcare Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Cash and cash equivalents 4.54 2.86 2.07 2.33 2.18 3.78 12.91 9.52 1.61 1.38 1.27 5.35 1.22 1.28 1.52 2.30 2.91 2.00 2.01 2.04 2.23
Accounts receivable 16.32 15.95 17.02 15.85 15.70 14.85 12.61 12.60 15.17 16.38 16.24 15.88 17.11 17.32 17.17 17.47 16.98 17.77 16.74 16.73 16.76
Inventories 3.84 3.91 4.07 4.21 4.37 4.26 3.82 3.77 4.30 4.10 4.03 4.02 4.10 4.42 4.30 4.33 4.50 4.30 4.33 4.47 4.44
Other 4.05 3.96 3.57 3.51 3.20 3.08 2.54 2.92 3.17 2.99 2.98 3.07 3.18 3.04 3.33 3.44 3.47 3.20 3.37 3.78 3.31
Current assets 28.74% 26.69% 26.73% 25.90% 25.46% 25.97% 31.88% 28.81% 24.25% 24.85% 24.52% 28.32% 25.61% 26.05% 26.31% 27.54% 27.86% 27.26% 26.44% 27.01% 26.74%
Property and equipment, at cost 99.68 101.20 102.29 105.26 105.50 103.85 95.61 99.54 105.37 104.83 105.43 99.82 102.78 109.59 110.34 109.01 108.07 109.54 109.88 110.82 111.22
Accumulated depreciation -53.28 -53.78 -54.78 -56.53 -56.45 -55.00 -50.64 -52.17 -54.77 -54.42 -55.32 -52.59 -54.07 -59.19 -60.29 -59.87 -59.48 -60.64 -61.38 -62.31 -62.51
Property and equipment, net 46.41% 47.42% 47.51% 48.73% 49.05% 48.85% 44.97% 47.36% 50.60% 50.41% 50.10% 47.23% 48.71% 50.39% 50.05% 49.13% 48.59% 48.90% 48.50% 48.51% 48.71%
Investments of insurance subsidiaries 0.78 0.86 0.84 0.85 0.83 0.82 0.76 0.75 0.72 0.70 0.81 0.75 0.78 0.92 0.96 1.10 1.12 1.14 1.03 1.02 1.03
Investments in and advances to affiliates 0.84 0.88 0.83 0.79 0.90 0.89 0.66 0.56 0.52 0.55 0.55 0.54 0.57 0.59 0.63 0.62 0.62 0.54 0.56 0.57 0.57
Goodwill and other intangible assets 18.24 18.80 18.47 18.02 18.14 18.06 16.80 17.61 18.91 18.35 18.58 17.91 18.81 20.28 20.39 19.76 20.03 20.21 20.59 19.59 19.99
Right-of-use operating lease assets 4.10 4.16 4.24 4.40 4.41 4.26 3.87 3.82 4.02 4.07 4.03 3.93 4.18 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other 0.88 1.18 1.38 1.30 1.22 1.15 1.06 1.08 0.97 1.07 1.39 1.31 1.36 1.76 1.65 1.85 1.78 1.94 2.88 3.30 2.96
Noncurrent assets 71.26% 73.31% 73.27% 74.10% 74.54% 74.03% 68.12% 71.19% 75.75% 75.15% 75.48% 71.68% 74.39% 73.95% 73.69% 72.46% 72.14% 72.74% 73.56% 72.99% 73.26%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

The asset composition reveals a heavily capital-intensive structure, with noncurrent assets consistently dominating the balance sheet, typically ranging between 68% and 76% of total assets. Current assets generally fluctuate between 24% and 32%, displaying a notable period of volatility during the 2020 calendar year.

Liquidity and Current Asset Trends
Cash and cash equivalents remained relatively low and stable, between 1.2% and 2.9%, from early 2017 through early 2020. A significant liquidity surge occurred in mid-2020, peaking at 12.91% in September 2020, before normalizing toward 4.54% by March 2022. Accounts receivable maintained a consistent presence, generally hovering between 15% and 17% of total assets, though a temporary decline to approximately 12.6% was observed during the second and third quarters of 2020. Inventories showed the highest stability of all current assets, remaining within a narrow band of 3.7% to 4.5% throughout the entire period.
Fixed Asset Management
Net property and equipment represents the largest single component of the asset base, consistently accounting for 44% to 51% of total assets. The gross cost of property and equipment frequently exceeds 100% of total assets, offset by substantial accumulated depreciation, which typically ranges from 50% to 62%. This pattern indicates a high level of capital investment and a significant aging of the fixed asset base. A slight downward trend in net property and equipment as a percentage of total assets is observed starting in late 2021, reaching 46.41% by March 2022.
Intangible Assets and Right-of-Use Assets
Goodwill and other intangible assets remained relatively stable, shifting from approximately 20% in 2017 to 18.24% by March 2022. A structural change in the balance sheet is evident starting in March 2019 with the introduction of right-of-use operating lease assets, which have since stabilized between 3.8% and 4.4% of total assets. This introduction coincided with a gradual decline in the "Other" noncurrent asset category, which dropped from nearly 3% in 2017 to 0.88% by the end of the analysis period.
Investment and Affiliate Positions
Investments of insurance subsidiaries and advances to affiliates represent minimal portions of the total asset base. Insurance subsidiary investments shifted slightly from 1.03% in early 2017 to 0.78% in March 2022. Advances to affiliates remained marginally stable, fluctuating between 0.52% and 0.90%.

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