Total Asset Turnover
since 2011
Calculation
HCA Healthcare Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2021 | 1.16 | = | 58,752) | ÷ | 50,742) |
| Dec 31, 2020 | 1.09 | = | 51,533) | ÷ | 47,490) |
| Dec 31, 2019 | 1.14 | = | 51,336) | ÷ | 45,058) |
| Dec 31, 2018 | 1.19 | = | 46,677) | ÷ | 39,207) |
| Dec 31, 2017 | 1.19 | = | 43,614) | ÷ | 36,593) |
| Dec 31, 2016 | 1.23 | = | 41,490) | ÷ | 33,758) |
| Dec 31, 2015 | 1.21 | = | 39,678) | ÷ | 32,744) |
| Dec 31, 2014 | 1.18 | = | 36,918) | ÷ | 31,199) |
| Dec 31, 2013 | 1.19 | = | 34,182) | ÷ | 28,831) |
| Dec 31, 2012 | 1.18 | = | 33,013) | ÷ | 28,075) |
| Dec 31, 2011 | 1.10 | = | 29,682) | ÷ | 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 trajectory between 2011 and 2021 is characterized by consistent growth in both total revenues and the asset base, with asset utilization efficiency exhibiting a cyclical pattern. While the scale of operations expanded significantly over the decade, the ability to generate revenue per unit of asset experienced a period of improvement followed by a moderate decline and a subsequent recovery.
- Revenue and Asset Growth
- A sustained upward trend is observed in both top-line performance and resource accumulation. Revenues grew from 29,682 million US$ in 2011 to 58,752 million US$ in 2021. During the same period, total assets increased from 26,898 million US$ to 50,742 million US$, indicating a continuous expansion of the operational footprint.
- Asset Turnover Efficiency Trends
- The total asset turnover ratio initially improved, rising from 1.10 in 2011 to a peak of 1.23 in 2016. This indicates a phase where revenue growth outpaced the expansion of the asset base, reflecting increased operational efficiency. Following this peak, a gradual decline was observed, with the ratio reaching a low of 1.09 in 2020, suggesting that asset growth temporarily exceeded the rate of revenue generation.
- Recent Recovery Analysis
- A reversal of the downward efficiency trend occurred in 2021, as the total asset turnover ratio increased to 1.16. This recovery was driven by a substantial increase in revenues, which rose from 51,533 million US$ in 2020 to 58,752 million US$ in 2021, effectively improving the utilization of the asset base.
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Comparison to Competitors
HCA Healthcare Inc., total asset turnover, 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 | 1.16 | 0.57 | 1.41 | 0.42 | 0.32 | 1.34 |
| Dec 31, 2020 | 1.09 | 0.48 | 1.39 | 0.39 | 0.32 | 1.30 |
| Dec 31, 2019 | 1.14 | 0.47 | 1.33 | 0.46 | 0.34 | 1.38 |
| Dec 31, 2018 | 1.19 | 0.46 | 1.28 | 0.47 | 0.33 | 1.48 |
| Dec 31, 2017 | 1.19 | 0.36 | 1.26 | 0.54 | 0.30 | 1.44 |
| Dec 31, 2016 | 1.23 | 0.40 | 1.29 | 0.42 | 0.29 | 1.50 |
| Dec 31, 2015 | 1.21 | 0.49 | 1.27 | 0.49 | 0.19 | 1.40 |
| Dec 31, 2014 | 1.18 | 0.49 | 1.18 | 0.54 | 0.45 | 1.50 |
| Dec 31, 2013 | 1.19 | 0.51 | 1.18 | 0.57 | 0.48 | 1.49 |
| Dec 31, 2012 | 1.18 | 0.59 | 1.03 | 0.54 | 0.49 | 1.36 |
| Dec 31, 2011 | 1.10 | 0.64 | 1.15 | 0.57 | 0.52 | 1.49 |
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., total asset turnover, long-term trends, comparison to sector (health care equipment & services)
| HCA Healthcare Inc. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2021 | 1.16 | 1.02 |
| Dec 31, 2020 | 1.09 | 0.97 |
| Dec 31, 2019 | 1.14 | 0.98 |
| Dec 31, 2018 | 1.19 | 0.98 |
| Dec 31, 2017 | 1.19 | 0.89 |
| Dec 31, 2016 | 1.23 | 0.92 |
| Dec 31, 2015 | 1.21 | 0.85 |
| Dec 31, 2014 | 1.18 | 1.05 |
| Dec 31, 2013 | 1.19 | 1.04 |
| Dec 31, 2012 | 1.18 | 0.94 |
| Dec 31, 2011 | 1.10 | 1.02 |
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., total asset turnover, long-term trends, comparison to industry (health care)
| HCA Healthcare Inc. | Health Care | |
|---|---|---|
| Dec 31, 2021 | 1.16 | 0.62 |
| Dec 31, 2020 | 1.09 | 0.57 |
| Dec 31, 2019 | 1.14 | 0.57 |
| Dec 31, 2018 | 1.19 | 0.63 |
| Dec 31, 2017 | 1.19 | 0.56 |
| Dec 31, 2016 | 1.23 | 0.57 |
| Dec 31, 2015 | 1.21 | 0.55 |
| Dec 31, 2014 | 1.18 | 0.60 |
| Dec 31, 2013 | 1.19 | 0.58 |
| Dec 31, 2012 | 1.18 | 0.58 |
| Dec 31, 2011 | 1.10 | 0.61 |
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).