Stock Analysis on Net
Stock Analysis on Net

HCA Healthcare Inc. (NYSE:HCA)

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Analysis of Solvency Ratios

Microsoft Excel LibreOffice Calc

Solvency Ratios (Summary)

HCA Healthcare Inc., solvency ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 10-K (filing date: 2021-02-19), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-22).

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. HCA Healthcare Inc.’s debt to capital ratio improved from 2018 to 2019 and from 2019 to 2020.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. HCA Healthcare Inc.’s debt to capital ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. HCA Healthcare Inc.’s debt to assets ratio improved from 2018 to 2019 and from 2019 to 2020.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. HCA Healthcare Inc.’s debt to assets ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. HCA Healthcare Inc.’s interest coverage ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. HCA Healthcare Inc.’s fixed charge coverage ratio deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020.

Debt to Equity

HCA Healthcare Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Long-term debt due within one year
Long-term debt due after one year, less debt issuance costs and discounts
Total debt
 
Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc.
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
Abbott Laboratories
Anthem Inc.
Becton, Dickinson & Co.
Bristol-Myers Squibb Co.
CVS Health Corp.
Danaher Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
UnitedHealth Group Inc.
Debt to Equity, Sector
Health Care Equipment & Services
Debt to Equity, Industry
Health Care

Based on: 10-K (filing date: 2021-02-19), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc.
= ÷ =

2 Click competitor name to see calculations.


Debt to Equity (including Operating Lease Liability)

HCA Healthcare Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Long-term debt due within one year
Long-term debt due after one year, less debt issuance costs and discounts
Total debt
Right-of-use current operating lease obligations
Right-of-use noncurrent operating lease obligations
Total debt (including operating lease liability)
 
Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc.
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Abbott Laboratories
Anthem Inc.
Becton, Dickinson & Co.
Bristol-Myers Squibb Co.
CVS Health Corp.
Danaher Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
UnitedHealth Group Inc.
Debt to Equity (including Operating Lease Liability), Sector
Health Care Equipment & Services
Debt to Equity (including Operating Lease Liability), Industry
Health Care

Based on: 10-K (filing date: 2021-02-19), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc.
= ÷ =

2 Click competitor name to see calculations.


Debt to Capital

HCA Healthcare Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Long-term debt due within one year
Long-term debt due after one year, less debt issuance costs and discounts
Total debt
Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc.
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
Abbott Laboratories
Anthem Inc.
Becton, Dickinson & Co.
Bristol-Myers Squibb Co.
CVS Health Corp.
Danaher Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
UnitedHealth Group Inc.
Debt to Capital, Sector
Health Care Equipment & Services
Debt to Capital, Industry
Health Care

Based on: 10-K (filing date: 2021-02-19), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. HCA Healthcare Inc.’s debt to capital ratio improved from 2018 to 2019 and from 2019 to 2020.

Debt to Capital (including Operating Lease Liability)

HCA Healthcare Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Long-term debt due within one year
Long-term debt due after one year, less debt issuance costs and discounts
Total debt
Right-of-use current operating lease obligations
Right-of-use noncurrent operating lease obligations
Total debt (including operating lease liability)
Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc.
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Abbott Laboratories
Anthem Inc.
Becton, Dickinson & Co.
Bristol-Myers Squibb Co.
CVS Health Corp.
Danaher Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
UnitedHealth Group Inc.
Debt to Capital (including Operating Lease Liability), Sector
Health Care Equipment & Services
Debt to Capital (including Operating Lease Liability), Industry
Health Care

Based on: 10-K (filing date: 2021-02-19), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. HCA Healthcare Inc.’s debt to capital ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020.

Debt to Assets

HCA Healthcare Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Long-term debt due within one year
Long-term debt due after one year, less debt issuance costs and discounts
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
Abbott Laboratories
Anthem Inc.
Becton, Dickinson & Co.
Bristol-Myers Squibb Co.
CVS Health Corp.
Danaher Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
UnitedHealth Group Inc.
Debt to Assets, Sector
Health Care Equipment & Services
Debt to Assets, Industry
Health Care

Based on: 10-K (filing date: 2021-02-19), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. HCA Healthcare Inc.’s debt to assets ratio improved from 2018 to 2019 and from 2019 to 2020.

Debt to Assets (including Operating Lease Liability)

HCA Healthcare Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Long-term debt due within one year
Long-term debt due after one year, less debt issuance costs and discounts
Total debt
Right-of-use current operating lease obligations
Right-of-use noncurrent operating lease obligations
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Abbott Laboratories
Anthem Inc.
Becton, Dickinson & Co.
Bristol-Myers Squibb Co.
CVS Health Corp.
Danaher Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
UnitedHealth Group Inc.
Debt to Assets (including Operating Lease Liability), Sector
Health Care Equipment & Services
Debt to Assets (including Operating Lease Liability), Industry
Health Care

Based on: 10-K (filing date: 2021-02-19), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. HCA Healthcare Inc.’s debt to assets ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020.

Financial Leverage

HCA Healthcare Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Total assets
Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc.
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
Abbott Laboratories
Anthem Inc.
Becton, Dickinson & Co.
Bristol-Myers Squibb Co.
CVS Health Corp.
Danaher Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
UnitedHealth Group Inc.
Financial Leverage, Sector
Health Care Equipment & Services
Financial Leverage, Industry
Health Care

Based on: 10-K (filing date: 2021-02-19), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc.
= ÷ =

2 Click competitor name to see calculations.


Interest Coverage

HCA Healthcare Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Net income attributable to HCA Healthcare, Inc.
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Abbott Laboratories
Anthem Inc.
Becton, Dickinson & Co.
Bristol-Myers Squibb Co.
CVS Health Corp.
Danaher Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
UnitedHealth Group Inc.
Interest Coverage, Sector
Health Care Equipment & Services
Interest Coverage, Industry
Health Care

Based on: 10-K (filing date: 2021-02-19), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. HCA Healthcare Inc.’s interest coverage ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.

Fixed Charge Coverage

HCA Healthcare Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Net income attributable to HCA Healthcare, Inc.
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Add: Operating lease expense
Earnings before fixed charges and tax
 
Interest expense
Operating lease expense
Fixed charges
Solvency Ratio
Fixed charge coverage1
Benchmarks
Fixed Charge Coverage, Competitors2
Abbott Laboratories
Anthem Inc.
Becton, Dickinson & Co.
Bristol-Myers Squibb Co.
CVS Health Corp.
Danaher Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
UnitedHealth Group Inc.
Fixed Charge Coverage, Sector
Health Care Equipment & Services
Fixed Charge Coverage, Industry
Health Care

Based on: 10-K (filing date: 2021-02-19), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. HCA Healthcare Inc.’s fixed charge coverage ratio deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020.