Return on Assets (ROA)
since 2011
Calculation
HCA Healthcare Inc., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income attributable to HCA Healthcare, Inc.1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2021 | 13.71% | = | 100 | × | 6,956) | ÷ | 50,742) |
| Dec 31, 2020 | 7.90% | = | 100 | × | 3,754) | ÷ | 47,490) |
| Dec 31, 2019 | 7.78% | = | 100 | × | 3,505) | ÷ | 45,058) |
| Dec 31, 2018 | 9.66% | = | 100 | × | 3,787) | ÷ | 39,207) |
| Dec 31, 2017 | 6.06% | = | 100 | × | 2,216) | ÷ | 36,593) |
| Dec 31, 2016 | 8.56% | = | 100 | × | 2,890) | ÷ | 33,758) |
| Dec 31, 2015 | 6.50% | = | 100 | × | 2,129) | ÷ | 32,744) |
| Dec 31, 2014 | 6.01% | = | 100 | × | 1,875) | ÷ | 31,199) |
| Dec 31, 2013 | 5.40% | = | 100 | × | 1,556) | ÷ | 28,831) |
| Dec 31, 2012 | 5.72% | = | 100 | × | 1,605) | ÷ | 28,075) |
| Dec 31, 2011 | 9.16% | = | 100 | × | 2,465) | ÷ | 26,898) |
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 performance from 2011 to 2021 is characterized by consistent asset expansion and significant volatility in net income, culminating in a substantial increase in asset utilization efficiency by the end of the period.
- Total Asset Expansion
- Total assets exhibited a steady upward trajectory, growing from 26,898 million US dollars in 2011 to 50,742 million US dollars by 2021. This represents a near doubling of the asset base over the eleven-year span, indicating a sustained period of capital investment and growth.
- Net Income Volatility
- Net income attributable to the company experienced several fluctuations throughout the period. Following a peak in 2011, earnings declined to a low of 1,556 million US dollars in 2013. While earnings recovered and fluctuated between 2,216 million and 3,787 million US dollars from 2017 to 2020, a significant surge occurred in 2021, where net income reached 6,956 million US dollars.
- Return on Assets (ROA) Trends
- The ROA displayed a cyclical pattern with a notable acceleration in the final year of the analysis. From an initial 9.16% in 2011, the ratio declined and remained within a range of 5.40% to 6.50% between 2012 and 2015. A period of instability followed, with the ratio fluctuating between a low of 6.06% in 2017 and a high of 9.66% in 2018. The period concluded with a sharp increase to 13.71% in 2021, indicating a marked improvement in the company's ability to generate profit relative to its total assets.
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Comparison to Competitors
HCA Healthcare Inc., ROA, 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 | 13.71% | 9.40% | 6.26% | 12.58% | 3.87% | 8.15% |
| Dec 31, 2020 | 7.90% | 6.20% | 5.28% | 9.50% | 5.28% | 7.81% |
| Dec 31, 2019 | 7.78% | 5.43% | 6.21% | 14.17% | 5.16% | 7.96% |
| Dec 31, 2018 | 9.66% | 3.53% | 5.24% | 14.37% | 3.40% | 7.87% |
| Dec 31, 2017 | 6.06% | 0.63% | 5.45% | 11.46% | 4.04% | 7.59% |
| Dec 31, 2016 | 8.56% | 2.66% | 3.79% | 11.34% | 3.55% | 5.71% |
| Dec 31, 2015 | 6.50% | 10.72% | 4.15% | 12.00% | 2.51% | 5.22% |
| Dec 31, 2014 | 6.01% | 5.53% | 4.14% | 10.58% | 8.08% | 6.50% |
| Dec 31, 2013 | 5.40% | 6.00% | 4.18% | 16.99% | 9.95% | 6.87% |
| Dec 31, 2012 | 5.72% | 8.87% | 4.50% | 16.18% | 10.93% | 6.83% |
| Dec 31, 2011 | 9.16% | 7.84% | 5.09% | 16.16% | 10.18% | 7.57% |
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., ROA, long-term trends, comparison to sector (health care equipment & services)
| HCA Healthcare Inc. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2021 | 13.71% | 7.28% |
| Dec 31, 2020 | 7.90% | 6.62% |
| Dec 31, 2019 | 7.78% | 6.77% |
| Dec 31, 2018 | 9.66% | 5.72% |
| Dec 31, 2017 | 6.06% | 5.00% |
| Dec 31, 2016 | 8.56% | 4.37% |
| Dec 31, 2015 | 6.50% | 4.93% |
| Dec 31, 2014 | 6.01% | 6.03% |
| Dec 31, 2013 | 5.40% | 6.64% |
| Dec 31, 2012 | 5.72% | 7.54% |
| Dec 31, 2011 | 9.16% | 7.54% |
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., ROA, long-term trends, comparison to industry (health care)
| HCA Healthcare Inc. | Health Care | |
|---|---|---|
| Dec 31, 2021 | 13.71% | 9.46% |
| Dec 31, 2020 | 7.90% | 5.81% |
| Dec 31, 2019 | 7.78% | 8.32% |
| Dec 31, 2018 | 9.66% | 7.90% |
| Dec 31, 2017 | 6.06% | 5.19% |
| Dec 31, 2016 | 8.56% | 7.31% |
| Dec 31, 2015 | 6.50% | 7.71% |
| Dec 31, 2014 | 6.01% | 8.59% |
| Dec 31, 2013 | 5.40% | 8.76% |
| Dec 31, 2012 | 5.72% | 8.09% |
| Dec 31, 2011 | 9.16% | 7.36% |
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).