10-KPeriod: FY2022

HCA Healthcare, Inc. Annual Report, Year Ended Dec 31, 2022

Filed February 17, 2023For Securities:HCA

Summary

HCA Healthcare, Inc. reported revenues of $60.233 billion for the year ended December 31, 2022, a 2.5% increase from 2021. Net income attributable to HCA Healthcare, Inc. was $5.643 billion, or $19.15 per diluted share, a decrease from $6.956 billion in 2021, primarily due to gains on sales of facilities in prior periods. The company experienced growth in key operational metrics such as emergency room visits and outpatient surgeries on a consolidated and same-facility basis. The company continues to manage its significant debt load, which stood at $38.084 billion as of December 31, 2022. HCA Healthcare remains focused on its growth strategy, including expanding its presence in existing markets, operational excellence, and strategic investments in clinical systems and digital capabilities. Key risk factors continue to include the impact of COVID-19, labor costs, regulatory changes, and competition within the healthcare industry.

Financial Highlights

46 data points
Beta

Revenue

$60.23B

Net Income

$5.64B

9.4% Net Margin

EPS (Diluted)

$19.15

Total Assets

$52.44B

Cash & Equivalents

$908.00M

Free Cash Flow

$4.13B

Financial Statements
Beta
Revenue$60.23B
Operating Expenses$51.65B
Interest Expense$1.74B
Net Income$5.64B
EPS (Basic)$19.43
EPS (Diluted)$19.15
Shares Outstanding (Basic)290.35M
Shares Outstanding (Diluted)294.67M

Key Highlights

  • 1HCA Healthcare reported total revenues of $60.233 billion for 2022, up 2.5% from 2021.
  • 2Net income attributable to HCA Healthcare decreased to $5.643 billion in 2022 from $6.956 billion in 2021.
  • 3Consolidated admissions saw a slight decrease of 0.7%, while same-facility admissions increased by 0.5% year-over-year.
  • 4Emergency room visits increased by 5.9% on a consolidated basis and 7.6% on a same-facility basis.
  • 5The company ended the year with 182 hospitals and 126 freestanding surgery centers.
  • 6Total debt remained substantial at $38.084 billion as of December 31, 2022.
  • 7HCA repurchased $7.000 billion of its common stock during 2022.

Frequently Asked Questions

For the year ended December 31, 2022, HCA Healthcare reported revenues of $60.233 billion, an increase of 2.5% from the prior year. Net income attributable to HCA Healthcare was $5.643 billion, or $19.15 per diluted share, which was lower than the $6.956 billion reported in 2021. The company's operating statistics showed a 0.5% increase in same-facility admissions and a 5.9% increase in consolidated emergency room visits.

HCA Healthcare's total debt increased to $38.084 billion as of December 31, 2022, from $34.579 billion in the prior year. This increase was primarily due to the issuance of $6 billion in senior notes, used in part to pay down revolving credit facilities and redeem existing senior notes.

HCA Healthcare's growth strategy is focused on expanding its presence in existing markets, achieving industry-leading clinical and operational performance, recruiting and retaining top healthcare professionals, leveraging economies of scale, and pursuing a disciplined development strategy. They also emphasize investments in clinical systems, digital capabilities, and innovative care models.

Key risks for HCA Healthcare include the ongoing impact of COVID-19 and potential future pandemics, substantial leverage and debt service obligations, competition for staffing and healthcare professionals, cybersecurity threats, changes in government regulations and reimbursement policies (particularly for Medicare and Medicaid), and economic downturns that could affect patient volumes and the collectability of receivables.