HCA Healthcare Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	7,782	6,657	6,091	6,834	7,721
Depreciation & Amortization	3,523	3,312	3,077	2,969	2,853
Stock-Based Compensation	401	360	262	341	440
Other Adjustments	512	291	458	-470	-1,552
Change in Receivables	-94	-799	-935	-797	-962
Changes in Inventories	-154	334	-126	-59	-540
Changes in Accounts Payable	666	604	359	-296	999
Operating Cash Flow	12,636	10,514	9,431	8,522	8,959
Operating Cash Flow Growth	20.18%	11.48%	10.67%	-4.88%	-2.96%
Capital Expenditures	-4,944	-4,875	-4,744	-4,395	-3,577
Payments for Business Acquisitions	-397	-266	-635	-224	-1,105
Proceeds from Business Divestments	269	328	193	1,237	2,160
Other Investing Activities	84	-120	-131	-7	-121
Investing Cash Flow	-4,988	-4,933	-5,317	-3,389	-2,643
Short-Term Debt Issued	2,202	-1,880	-1,020	120	2,780
Net Short-Term Debt Issued (Repaid)	2,202	-1,880	-1,020	120	2,780
Long-Term Debt Issued	8,474	7,495	3,224	5,997	4,344
Long-Term Debt Repaid	-7,389	-2,410	-909	-2,830	-3,869
Net Long-Term Debt Issued (Repaid)	1,085	5,085	2,315	3,167	475
Repurchase of Common Stock	-10,067	-6,042	-3,811	-7,000	-8,215
Net Common Stock Issued (Repurchased)	-10,067	-6,042	-3,811	-7,000	-8,215
Common Dividends Paid	-679	-690	-661	-653	-624
Other Financing Activities	1,111	-2,935	-1,937	-1,170	1,709
Financing Cash Flow	-8,550	-4,582	-4,094	-5,656	-6,655
Effect of Exchange Rate Changes on Cash and Cash Equivalents	9	-1	7	-20	-3
Net Cash Flow	-893	998	27	-543	-342
Free Cash Flow	7,692	5,639	4,687	4,127	5,382
Free Cash Flow Growth	36.41%	20.31%	13.57%	-23.32%	-15.87%
FCF Margin	10.17%	7.99%	7.21%	6.85%	9.16%
Free Cash Flow Per Share	32.12	21.54	16.96	14.01	16.37
Levered Free Cash Flow	9,162	8,340	5,103	7,149	9,946
Unlevered Free Cash Flow	8,561	7,613	6,175	5,430	7,334

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.