Return on Equity (ROE)
since 2011
Calculation
HCA Healthcare Inc., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income attributable to HCA Healthcare, Inc.1 | ÷ | Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc.1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2021 | — | = | 100 | × | 6,956) | ÷ | (933) |
| Dec 31, 2020 | 656.29% | = | 100 | × | 3,754) | ÷ | 572) |
| Dec 31, 2019 | — | = | 100 | × | 3,505) | ÷ | (2,808) |
| Dec 31, 2018 | — | = | 100 | × | 3,787) | ÷ | (4,950) |
| Dec 31, 2017 | — | = | 100 | × | 2,216) | ÷ | (6,806) |
| Dec 31, 2016 | — | = | 100 | × | 2,890) | ÷ | (7,302) |
| Dec 31, 2015 | — | = | 100 | × | 2,129) | ÷ | (7,599) |
| Dec 31, 2014 | — | = | 100 | × | 1,875) | ÷ | (7,894) |
| Dec 31, 2013 | — | = | 100 | × | 1,556) | ÷ | (8,270) |
| Dec 31, 2012 | — | = | 100 | × | 1,605) | ÷ | (9,660) |
| Dec 31, 2011 | — | = | 100 | × | 2,465) | ÷ | (8,258) |
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
Net income demonstrated a general upward trajectory from 2011 through 2021, despite moderate fluctuations in the early part of the decade. A substantial acceleration in profitability occurred in 2021, with net income reaching 6,956 million US dollars, nearly doubling the figures observed in the preceding three years.
- Net Income Performance
- Consistent profitability is evident throughout the analyzed period. Following a decline between 2011 and 2013, earnings recovered and peaked in 2018 at 3,787 million US dollars. Profitability remained relatively stable through 2020 before the significant surge recorded at the end of 2021.
- Stockholders' Equity Position
- A persistent equity deficit characterized the balance sheet for the majority of the period. The deficit narrowed steadily from 8,258 million US dollars in 2011 to 2,808 million US dollars in 2019. A brief transition to a positive equity position occurred in 2020, reaching 572 million US dollars, before returning to a deficit of 933 million US dollars in 2021.
- Return on Equity (ROE) Analysis
- ROE remained uncalculated for most of the period due to the negative equity position, which precludes standard ratio interpretation. The recorded ROE of 656.29% in 2020 is an anomaly resulting from the convergence of high net income and a very small positive equity base, rather than a reflection of typical operational efficiency.
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Comparison to Competitors
HCA Healthcare Inc., ROE, 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 | — | 19.75% | 16.93% | 14.32% | 7.01% | 24.09% |
| Dec 31, 2020 | 656.29% | 13.71% | 13.77% | 10.90% | 9.44% | 23.52% |
| Dec 31, 2019 | — | 11.86% | 15.15% | 16.69% | 9.25% | 24.02% |
| Dec 31, 2018 | — | 7.76% | 13.14% | 16.89% | 6.12% | 23.19% |
| Dec 31, 2017 | — | 1.54% | 14.50% | 13.97% | 8.01% | 22.10% |
| Dec 31, 2016 | — | 6.82% | 9.84% | 12.74% | 6.80% | 18.33% |
| Dec 31, 2015 | — | 20.85% | 11.11% | 13.63% | 5.03% | 17.18% |
| Dec 31, 2014 | — | 10.61% | 10.60% | 12.39% | 15.76% | 17.31% |
| Dec 31, 2013 | — | 10.23% | 10.05% | 19.16% | 18.57% | 17.50% |
| Dec 31, 2012 | — | 22.32% | 11.16% | 18.34% | 21.14% | 17.72% |
| Dec 31, 2011 | — | 19.35% | 11.36% | 18.71% | 19.39% | 18.17% |
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., ROE, long-term trends, comparison to sector (health care equipment & services)
| HCA Healthcare Inc. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2021 | — | 17.28% |
| Dec 31, 2020 | 656.29% | 15.80% |
| Dec 31, 2019 | — | 15.85% |
| Dec 31, 2018 | — | 13.28% |
| Dec 31, 2017 | — | 12.21% |
| Dec 31, 2016 | — | 10.70% |
| Dec 31, 2015 | — | 11.84% |
| Dec 31, 2014 | — | 13.81% |
| Dec 31, 2013 | — | 14.22% |
| Dec 31, 2012 | — | 17.99% |
| Dec 31, 2011 | — | 17.02% |
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., ROE, long-term trends, comparison to industry (health care)
| HCA Healthcare Inc. | Health Care | |
|---|---|---|
| Dec 31, 2021 | — | 25.44% |
| Dec 31, 2020 | 656.29% | 16.70% |
| Dec 31, 2019 | — | 23.30% |
| Dec 31, 2018 | — | 21.27% |
| Dec 31, 2017 | — | 13.77% |
| Dec 31, 2016 | — | 18.53% |
| Dec 31, 2015 | — | 18.52% |
| Dec 31, 2014 | — | 19.17% |
| Dec 31, 2013 | — | 18.81% |
| Dec 31, 2012 | — | 18.20% |
| Dec 31, 2011 | — | 15.90% |
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).