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
DateValue
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