Common-Size Income Statement
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HCA Healthcare Inc., common-size consolidated income statement
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).
- Revenues
- Remained constant at 100% across all periods, establishing the basis for relative percentage analysis.
- Supplies
- Displayed a slight decreasing trend as a percentage of revenues, improving from -16.77% in 2017 to -16.14% in 2021, indicating better cost control or procurement efficiency.
- Gross profit
- Experienced a gradual increase from 83.23% in 2017 to 83.86% in 2021, reflecting improved gross margins over the period.
- Salaries and benefits
- Remained relatively stable with minor fluctuations; around -45.9% of revenues, peaking slightly at -46.33% in 2020 before improving to -45.58% in 2021.
- Other operating expenses
- Exhibited a decreasing trend, falling significantly from -18.46% in 2017 to -16.95% in 2021, which suggests enhanced operational efficiency or cost reduction efforts.
- Depreciation and amortization
- Fluctuated modestly between -4.86% and -5.28%, peaking in 2020 and then reverting to lower levels by 2021, indicating some variation in capital asset utilization or investment.
- Gains (losses) on sales of facilities
- Showed inconsistent values with a noteworthy spike in 2021 to 2.76%, implying significant one-time gains from asset sales in the latest period compared to minimal or negative values earlier.
- Operating income
- Demonstrated a meaningful increase from 13.91% in 2017 to a notable 19.23% in 2021, highlighting improved operating profitability over the five-year span.
- Equity in earnings of affiliates
- Remained low but showed a slight upward trend, increasing from 0.1% in 2017 to 0.19% in 2021, suggesting modest growth in income contributions from affiliates.
- Interest expense
- Declined steadily from -3.87% in 2017 to -2.67% in 2021, indicating reduced interest burden possibly due to debt repayment or refinancing at lower rates.
- Losses on retirement of debt
- Varied with minor effects, reaching a low of -0.57% in 2020 but effectively negligible by 2021 at -0.02%, reflecting fewer or less costly debt retirements in recent years.
- Income before income taxes
- Increased from 10.04% in 2017 to 16.74% in 2021, in line with enhanced operating income and reduced financial costs, signaling stronger pre-tax profitability.
- Provision for income taxes
- Displayed variability, dropping from -3.76% in 2017 to about -2.0% in 2018-2020, before rising again to -3.59% in 2021, which may reflect changes in tax rates or taxable income composition.
- Net income
- Grew significantly, from 6.29% of revenues in 2017 to 13.14% in 2021, more than doubling over the period and indicating effective overall profitability improvement.
- Net income attributable to noncontrolling interests
- Remained relatively steady around -1.2% to -1.3%, suggesting consistent minority interest impact over time.
- Net income attributable to HCA Healthcare, Inc.
- Followed the net income trend closely, rising from 5.08% in 2017 to 11.84% in 2021, underscoring strong growth in earnings available to the parent company’s shareholders.