Stock Analysis on Net

HCA Healthcare Inc. (NYSE:HCA)

$22.49

This company has been moved to the archive! The financial data has not been updated since May 3, 2022.

Enterprise Value (EV)

Microsoft Excel

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Current Enterprise Value (EV)

HCA Healthcare Inc., current enterprise value calculation

Microsoft Excel
Current share price (P)
No. shares of common stock outstanding
US$ in millions
Common equity (market value)1
Add: Noncontrolling interests (per books)
Total equity
Add: Long-term debt due within one year (per books)
Add: Long-term debt due after one year, less debt issuance costs and discounts (per books)
Total equity and debt
Less: Cash and cash equivalents
Enterprise value (EV)

Based on: 10-K (reporting date: 2021-12-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×


Historical Enterprise Value (EV)

HCA Healthcare Inc., EV calculation

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Share price1, 2
No. shares of common stock outstanding1
US$ in millions
Common equity (market value)3
Add: Noncontrolling interests (book value)
Total equity
Add: Long-term debt due within one year (book value)
Add: Long-term debt due after one year, less debt issuance costs and discounts (book value)
Total equity and debt
Less: Cash and cash equivalents
Enterprise value (EV)

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 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of HCA Healthcare Inc. Annual Report.

3 2021 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×


Market Value of Common Equity
The market value of common equity exhibited a consistent upward trend over the five-year period. Starting at $35,284 million in 2017, the value increased each year, reaching $74,109 million by the end of 2021. This represents more than a doubling of market valuation, indicating strong growth and increasing investor confidence.
Total Equity
Total equity showed a similar pattern of continuous growth, rising from $37,095 million in 2017 to $76,531 million in 2021. The growth in total equity closely mirrored the increase in market equity, reflecting overall strengthening of the company’s net asset position during this timeframe.
Total Equity and Debt
This combined measure of the company’s capital structure also increased steadily from $70,153 million in 2017 to $111,110 million in 2021. The increase suggests the company undertook additional financing, either through debt, equity, or a combination of both, to support expansion or operational needs. The rise in total capital employed corresponds with the growth observed in equity components.
Enterprise Value (EV)
Enterprise value demonstrated a rising trajectory with growth from $69,421 million in 2017 to $109,659 million in 2021. The upward move in EV reflects an appreciation in the company’s valuation both in equity and debt markets, indicating perceived improvement in business fundamentals and future earning potential over the period analyzed.