HCA Healthcare (HCA) Operating Expenses (2017 - 2026)
HCA Healthcare (HCA) reported Operating Expenses of $16.8 billion for Q1 2026, up 5.18% year-over-year from $16.0 billion in Q1 2025, and little changed quarter-over-quarter from $16.8 billion in Q4 2025.
HCA Healthcare (HCA) Operating Expenses (2017 - 2026) Analysis & Trends
HCA Healthcare (HCA) has 10 years of Operating Expenses data on file, last reported at $16.8 billion in Q1 2026.
- Operating Expenses for Q1 2026 came in at $16.8 billion, up 5.18% year-over-year; the trailing twelve-month figure through Mar 2026 was $66.6 billion (up 5.74% YoY), and the FY2025 annual result was $65.8 billion, up 5.94% from the prior year.
- Operating Expenses steadied at $16.8 billion in Q1 2026 per HCA's latest filing, from $16.8 billion in the prior quarter.
- Over five years, Operating Expenses peaked at $16.8 billion in Q4 2025 and troughed at $12.2 billion in Q4 2022.
- A 5-year average of $14.9 billion and a median of $15.1 billion in 2024 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses dropped 2.27% in 2022, then grew 22.66% in 2023.
- A 5-year view of Operating Expenses shows it stood at $12.2 billion in 2022, then increased by 22.66% to $15.0 billion in 2023, then climbed by 7.98% to $16.2 billion in 2024, then increased by 4.27% to $16.8 billion in 2025, then retreated by 0.11% to $16.8 billion in 2026.
- Business Quant data shows HCA's Operating Expenses at $16.8 billion in Q1 2026, $16.8 billion in Q4 2025, and $16.7 billion in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 83.85 Bn | 86.23 Bn | 16.26 Bn | 16.82 Bn |
| 2 | Tenet Healthcare | 14.98 Bn | 14.15 Bn | 4.41 Bn | 27.00 Mn |
| 3 | Davita | 13.99 Bn | 14.84 Bn | 1.07 Bn | 2.93 Bn |
| 4 | Encompass Health | 9.72 Bn | 10.34 Bn | 1.34 Bn | 1.29 Bn |
| 5 | Ensign | 8.90 Bn | 8.31 Bn | 293.37 Mn | 1.26 Bn |
| 6 | Universal Health Services | 8.59 Bn | 8.55 Bn | 3.21 Bn | 3.99 Bn |
| 7 | Fresenius Medical Care AG | 7.67 Bn | 5.29 Bn | -4.26 Bn | 820.65 Mn |
| 8 | Chemed | 5.97 Bn | 5.96 Bn | 215.76 Mn | 572.94 Mn |
| 9 | Pacs | 5.74 Bn | 5.50 Bn | 345.96 Mn | 1.30 Bn |
| 10 | Concentra Group Holdings Parent | 3.59 Bn | 3.54 Bn | 170.47 Mn | 474.01 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 16.82 Bn |
| Dec 31, 2025 | 16.84 Bn |
| Sep 30, 2025 | 16.74 Bn |
| Jun 30, 2025 | 16.19 Bn |
| Mar 31, 2025 | 15.99 Bn |
| Dec 31, 2024 | 16.15 Bn |
| Sep 30, 2024 | 15.58 Bn |
| Jun 30, 2024 | 15.26 Bn |
| Mar 31, 2024 | 15.09 Bn |
| Dec 31, 2023 | 14.96 Bn |
| Sep 30, 2023 | 14.58 Bn |
| Jun 30, 2023 | 14.05 Bn |
| Mar 31, 2023 | 13.67 Bn |
| Dec 31, 2022 | 12.20 Bn |
| Sep 30, 2022 | 13.27 Bn |
| Jun 30, 2022 | 13.06 Bn |
| Mar 31, 2022 | 13.13 Bn |
| Dec 31, 2021 | 12.48 Bn |
| Sep 30, 2021 | 12.12 Bn |
| Jun 30, 2021 | 12.32 Bn |