Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
HCA Healthcare Inc., liquidity ratios
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Current ratio | 1.41 | 1.42 | 1.44 | 1.35 | 1.62 | |
| Quick ratio | 1.00 | 1.02 | 1.03 | 0.96 | 1.17 | |
| Cash ratio | 0.15 | 0.21 | 0.08 | 0.07 | 0.12 |
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).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | HCA Healthcare Inc. current ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | HCA Healthcare Inc. quick ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | HCA Healthcare Inc. cash ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
Current Ratio
HCA Healthcare Inc., current ratio calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 13,542) | 12,333) | 11,196) | 10,213) | 9,977) | |
| Current liabilities | 9,582) | 8,704) | 7,757) | 7,569) | 6,158) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 1.41 | 1.42 | 1.44 | 1.35 | 1.62 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| Abbott Laboratories | 1.85 | 1.72 | 1.44 | — | — | |
| Cigna Group | 0.83 | 0.77 | 0.74 | — | — | |
| CVS Health Corp. | 0.88 | 0.91 | 0.94 | — | — | |
| Elevance Health Inc. | 1.47 | 1.55 | 1.65 | — | — | |
| Humana Inc. | 1.62 | 1.77 | 1.82 | — | — | |
| Intuitive Surgical Inc. | 5.08 | 6.86 | 4.53 | — | — | |
| Medtronic PLC | 2.65 | 2.13 | 2.59 | 2.28 | — | |
| Shockwave Medical Inc. | 5.54 | 9.63 | 9.03 | — | — | |
| UnitedHealth Group Inc. | 0.79 | 0.74 | 0.69 | — | — | |
| Current Ratio, Sector | ||||||
| Health Care Equipment & Services | 1.09 | 1.08 | 1.07 | — | — | |
| Current Ratio, Industry | ||||||
| Health Care | 1.21 | 1.21 | 1.34 | — | — | |
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).
1 2021 Calculation
Current ratio = Current assets ÷ Current liabilities
= 13,542 ÷ 9,582 = 1.41
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | HCA Healthcare Inc. current ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Quick Ratio
HCA Healthcare Inc., quick ratio calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 1,451) | 1,793) | 621) | 502) | 732) | |
| Accounts receivable | 8,095) | 7,051) | 7,380) | 6,789) | 6,501) | |
| Total quick assets | 9,546) | 8,844) | 8,001) | 7,291) | 7,233) | |
| Current liabilities | 9,582) | 8,704) | 7,757) | 7,569) | 6,158) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 1.00 | 1.02 | 1.03 | 0.96 | 1.17 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| Abbott Laboratories | 1.28 | 1.14 | 0.88 | — | — | |
| Cigna Group | 0.48 | 0.66 | 0.41 | — | — | |
| CVS Health Corp. | 0.55 | 0.53 | 0.52 | — | — | |
| Elevance Health Inc. | 1.33 | 1.42 | 1.52 | — | — | |
| Humana Inc. | 1.20 | 1.37 | 1.47 | — | — | |
| Intuitive Surgical Inc. | 4.34 | 5.96 | 3.75 | — | — | |
| Medtronic PLC | 1.91 | 1.50 | 1.90 | 1.71 | — | |
| Shockwave Medical Inc. | 4.62 | 8.37 | 8.44 | — | — | |
| UnitedHealth Group Inc. | 0.72 | 0.68 | 0.63 | — | — | |
| Quick Ratio, Sector | ||||||
| Health Care Equipment & Services | 0.83 | 0.85 | 0.78 | — | — | |
| Quick Ratio, Industry | ||||||
| Health Care | 0.89 | 0.90 | 1.00 | — | — | |
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).
1 2021 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 9,546 ÷ 9,582 = 1.00
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | HCA Healthcare Inc. quick ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Cash Ratio
HCA Healthcare Inc., cash ratio calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 1,451) | 1,793) | 621) | 502) | 732) | |
| Total cash assets | 1,451) | 1,793) | 621) | 502) | 732) | |
| Current liabilities | 9,582) | 8,704) | 7,757) | 7,569) | 6,158) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.15 | 0.21 | 0.08 | 0.07 | 0.12 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| Abbott Laboratories | 0.78 | 0.60 | 0.38 | — | — | |
| Cigna Group | 0.14 | 0.32 | 0.14 | — | — | |
| CVS Health Corp. | 0.18 | 0.18 | 0.15 | — | — | |
| Elevance Health Inc. | 0.95 | 1.04 | 1.08 | — | — | |
| Humana Inc. | 1.08 | 1.29 | 1.37 | — | — | |
| Intuitive Surgical Inc. | 3.66 | 5.30 | 3.13 | — | — | |
| Medtronic PLC | 1.27 | 1.06 | 1.16 | 1.11 | — | |
| Shockwave Medical Inc. | 3.89 | 7.91 | 8.14 | — | — | |
| UnitedHealth Group Inc. | 0.36 | 0.33 | 0.28 | — | — | |
| Cash Ratio, Sector | ||||||
| Health Care Equipment & Services | 0.46 | 0.50 | 0.42 | — | — | |
| Cash Ratio, Industry | ||||||
| Health Care | 0.51 | 0.53 | 0.64 | — | — | |
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).
1 2021 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 1,451 ÷ 9,582 = 0.15
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | HCA Healthcare Inc. cash ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |