Current Ratio
since 2011
Calculation
HCA Healthcare Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2021 | 1.41 | = | 13,542) | ÷ | 9,582) |
| Dec 31, 2020 | 1.42 | = | 12,333) | ÷ | 8,704) |
| Dec 31, 2019 | 1.44 | = | 11,196) | ÷ | 7,757) |
| Dec 31, 2018 | 1.35 | = | 10,213) | ÷ | 7,569) |
| Dec 31, 2017 | 1.62 | = | 9,977) | ÷ | 6,158) |
| Dec 31, 2016 | 1.56 | = | 9,086) | ÷ | 5,834) |
| Dec 31, 2015 | 1.67 | = | 9,232) | ÷ | 5,516) |
| Dec 31, 2014 | 1.63 | = | 8,930) | ÷ | 5,480) |
| Dec 31, 2013 | 1.41 | = | 8,037) | ÷ | 5,695) |
| Dec 31, 2012 | 1.26 | = | 7,763) | ÷ | 6,172) |
| Dec 31, 2011 | 1.30 | = | 7,233) | ÷ | 5,554) |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
1 US$ in millions
The financial data from 2011 to 2021 indicates a consistent expansion of both current assets and current liabilities. Current assets grew from 7,233 million USD to 13,542 million USD, while current liabilities increased from 5,554 million USD to 9,582 million USD over the analyzed period.
- Current Ratio Trends
- The current ratio remained consistently above 1.0, signifying that short-term assets were sufficient to cover short-term obligations throughout the decade. A period of liquidity improvement was observed between 2012 and 2015, during which the ratio climbed from 1.26 to a peak of 1.67. This was followed by a downward correction in 2018, where the ratio fell to 1.35, before stabilizing in the 1.41 to 1.44 range between 2019 and 2021.
- Asset and Liability Growth Patterns
- Current assets exhibited a steady upward trajectory without interruption. Current liabilities, however, showed more volatility; a reduction occurred between 2012 and 2014, followed by a period of relative stability until 2017, after which a significant and sustained increase in liabilities was observed through 2021.
- Working Capital Analysis
- The divergence between the growth rates of assets and liabilities influenced the fluctuating current ratio. The peak liquidity observed in 2015 resulted from current assets increasing while liabilities remained relatively flat. Conversely, the compression of the ratio in 2018 is attributed to a sharp rise in current liabilities, which grew by approximately 23% between 2017 and 2018, outpacing the growth of current assets.
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Comparison to Competitors
HCA Healthcare Inc., current ratio, long-term trends, comparison to competitors
| HCA Healthcare Inc. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2021 | 1.41 | 1.85 | 1.47 | 5.08 | 2.65 | 0.79 |
| Dec 31, 2020 | 1.42 | 1.72 | 1.55 | 6.86 | 2.13 | 0.74 |
| Dec 31, 2019 | 1.44 | 1.44 | 1.65 | 4.53 | 2.59 | 0.69 |
| Dec 31, 2018 | 1.35 | 1.62 | 1.56 | 5.28 | 2.28 | 0.73 |
| Dec 31, 2017 | 1.62 | 2.26 | 1.55 | 3.99 | 1.75 | 0.73 |
| Dec 31, 2016 | 1.56 | 4.02 | 1.61 | 5.45 | 3.29 | 0.69 |
| Dec 31, 2015 | 1.67 | 1.54 | 1.62 | 4.46 | 3.36 | 0.74 |
| Dec 31, 2014 | 1.63 | 1.45 | 1.72 | 3.69 | 3.82 | 0.77 |
| Dec 31, 2013 | 1.41 | 2.02 | 1.82 | 5.07 | 4.57 | 0.73 |
| Dec 31, 2012 | 1.26 | 2.36 | 1.78 | 4.71 | 1.62 | 0.78 |
| Dec 31, 2011 | 1.30 | 1.54 | 1.71 | 4.57 | 1.93 | 0.85 |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
Comparison to Sector (Health Care Equipment & Services)
HCA Healthcare Inc., current ratio, long-term trends, comparison to sector (health care equipment & services)
| HCA Healthcare Inc. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2021 | 1.41 | 1.22 |
| Dec 31, 2020 | 1.42 | 1.19 |
| Dec 31, 2019 | 1.44 | 1.17 |
| Dec 31, 2018 | 1.35 | 1.21 |
| Dec 31, 2017 | 1.62 | 1.24 |
| Dec 31, 2016 | 1.56 | 1.43 |
| Dec 31, 2015 | 1.67 | 1.36 |
| Dec 31, 2014 | 1.63 | 1.43 |
| Dec 31, 2013 | 1.41 | 1.54 |
| Dec 31, 2012 | 1.26 | 1.47 |
| Dec 31, 2011 | 1.30 | 1.36 |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
Comparison to Industry (Health Care)
HCA Healthcare Inc., current ratio, long-term trends, comparison to industry (health care)
| HCA Healthcare Inc. | Health Care | |
|---|---|---|
| Dec 31, 2021 | 1.41 | 1.31 |
| Dec 31, 2020 | 1.42 | 1.30 |
| Dec 31, 2019 | 1.44 | 1.48 |
| Dec 31, 2018 | 1.35 | 1.52 |
| Dec 31, 2017 | 1.62 | 1.55 |
| Dec 31, 2016 | 1.56 | 1.73 |
| Dec 31, 2015 | 1.67 | 1.70 |
| Dec 31, 2014 | 1.63 | 1.92 |
| Dec 31, 2013 | 1.41 | 1.96 |
| Dec 31, 2012 | 1.26 | 1.84 |
| Dec 31, 2011 | 1.30 | 1.94 |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).