Stock Analysis on Net
Stock Analysis on Net

HCA Healthcare Inc. (NYSE:HCA)

$22.49

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

Debt to Equity
since 2011

Microsoft Excel

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Calculation

HCA Healthcare Inc., debt to equity, long-term trends, calculation

Microsoft Excel
Debt to equity = Long-term debt1 ÷ Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc.1
Dec 31, 2021 = ÷
Dec 31, 2020 = ÷
Dec 31, 2019 = ÷
Dec 31, 2018 = ÷
Dec 31, 2017 = ÷
Dec 31, 2016 = ÷
Dec 31, 2015 = ÷
Dec 31, 2014 = ÷
Dec 31, 2013 = ÷
Dec 31, 2012 = ÷
Dec 31, 2011 = ÷

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 analysis of the financial data over the 2011-2021 period reveals several notable trends regarding the company’s long-term debt and stockholders’ equity, as well as its leverage ratio.

Long-term Debt
The long-term debt shows a generally increasing trend from 2011 to 2021. Starting at $27,052 million in 2011, it experienced annual growth with minor fluctuations, reaching $34,579 million by the end of 2021. There was a small dip in 2020, where debt decreased from $33,722 million in 2019 to $31,004 million, before rising again in 2021. This suggests ongoing reliance on debt financing with occasional repayments or adjustments.
Stockholders’ Equity
Stockholders’ equity attributable to the company displays a persistent negative balance throughout the period, signaling a deficit rather than positive equity. The deficit worsened from -$8,258 million in 2011 to a peak negative level around -$9,660 million in 2012, before gradually improving. From 2012 through 2019, the deficit steadily reduced, reaching a near-neutral figure of $572 million in 2020. However, this improvement reversed sharply in 2021 with equity falling back to -$933 million. The fluctuations indicate instability in equity position with periods of both reduction of deficit and renewed decline.
Debt to Equity Ratio
The only available debt to equity ratio is for 2020, recorded at 54.2 times. This extremely high ratio corresponds with the previously noted nearly neutral stockholders' equity that year combined with considerable long-term debt. Such a high leverage ratio reflects a significant reliance on debt relative to equity, which might imply increased financial risk, especially considering equity's volatility and historical deficits.

Overall, the financial data indicates a company maintaining or slightly increasing its long-term debt while managing a substantial equity deficit throughout most of the years. Although there was temporary equity improvement in 2020, the subsequent decline in 2021 raises concerns about equity stability. The very high leverage ratio observed in 2020 suggests elevated financial leverage and potential risk associated with debt servicing capacity or balance sheet health.

Comparison to Competitors

HCA Healthcare Inc., debt to equity, long-term trends, comparison to competitors

Microsoft Excel
HCA Healthcare Inc. Abbott Laboratories CVS Health Corp. Elevance Health Inc. Intuitive Surgical Inc. Medtronic PLC UnitedHealth Group Inc.
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011

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., debt to equity, long-term trends, comparison to sector (health care equipment & services)

Microsoft Excel
HCA Healthcare Inc. Health Care Equipment & Services
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011

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., debt to equity, long-term trends, comparison to industry (health care)

Microsoft Excel
HCA Healthcare Inc. Health Care
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011

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).