HCA Healthcare (HCA) Net Margin (2010 - 2026)
HCA Healthcare (HCA) posted quarterly Net Margin of 9.54% for Q2 2026, down 62.0% year-over-year from 25.11% in Q2 2025, and down 1.83% quarter-over-quarter from 9.72% in Q1 2026.
HCA Healthcare (HCA) Net Margin (2010 - 2026) Analysis & Trends
HCA Healthcare (HCA) has reported Net Margin for 17 consecutive years, with 9.54% the latest figure, recorded in Q2 2026.
- In Q2 2026, Net Margin fell 62.0% year-over-year to 9.54%; the TTM figure through Jun 2026 stood at 10.05% (up 58.0% YoY), while the FY2025 annual figure was 10.27%, up 85.0% from the prior year.
- Net Margin slipped to 9.54% in Q2 2026 per HCA's latest filing, from 9.72% in the prior quarter.
- Across five years, Net Margin topped out at 17.07% in Q4 2022 and bottomed at 7.86% in Q3 2023.
- Historically, Net Margin has averaged 10.03% across 5 years, with a median of 9.76% in 2022.
- On a YoY basis, Net Margin climbed as much as 376 bps in 2022 and fell as far as 720 bps in 2022.
- HCA Healthcare's Net Margin stood at 17.07% in 2022, then sank by 37 bps to 10.74% in 2023, then slipped by 14 bps to 9.22% in 2024, then rose by 19 bps to 11.01% in 2025, then retreated by 13 bps to 9.54% in 2026.
- Business Quant data shows HCA's Net Margin at 9.54% in Q2 2026, 9.72% in Q1 2026, and 11.01% in Q4 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 88.19 Bn | 90.61 Bn | 15.19 Bn | 9.54% |
| 2 | Tenet Healthcare | 21.59 Bn | 21.56 Bn | 4.45 Bn | 14.68% |
| 3 | Encompass Health | 12.19 Bn | 12.86 Bn | 1.34 Bn | -0.04% |
| 4 | Davita | 11.52 Bn | 12.39 Bn | 1.16 Bn | 9.66% |
| 5 | Ensign | 10.59 Bn | 10.27 Bn | 306.24 Mn | 6.93% |
| 6 | Universal Health Services | 8.79 Bn | 8.72 Bn | 3.29 Bn | 7.73% |
| 7 | Pacs | 7.04 Bn | 6.88 Bn | 338.46 Mn | 5.35% |
| 8 | Chemed | 6.96 Bn | 6.92 Bn | 221.47 Mn | 10.06% |
| 9 | Concentra Group Holdings Parent | 4.52 Bn | 4.38 Bn | 192.10 Mn | 11.10% |
| 10 | Option Care Health | 3.59 Bn | 3.39 Bn | 267.25 Mn | 3.74% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 9.54% |
| Mar 31, 2026 | 9.72% |
| Dec 31, 2025 | 11.01% |
| Sep 30, 2025 | 9.93% |
| Jun 30, 2025 | 10.16% |
| Mar 31, 2025 | 9.96% |
| Dec 31, 2024 | 9.22% |
| Sep 30, 2024 | 8.47% |
| Jun 30, 2024 | 9.64% |
| Mar 31, 2024 | 10.39% |
| Dec 31, 2023 | 10.74% |
| Sep 30, 2023 | 7.86% |
| Jun 30, 2023 | 8.90% |
| Mar 31, 2023 | 9.90% |
| Dec 31, 2022 | 17.07% |
| Sep 30, 2022 | 8.98% |
| Jun 30, 2022 | 9.30% |
| Mar 31, 2022 | 9.80% |
| Dec 31, 2021 | 13.31% |
| Sep 30, 2021 | 16.18% |