Hca Healthcare Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Hca Healthcare Inc (HCA) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Hca Healthcare Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 78,701M vs 61,946M combined for its competitors (56.0% combined share).
- Trending: Latest-quarter revenue run-rate is holding steady (+0.9% annualized vs trailing 12 months), vs holding steady (+0.5%) for its tracked peer group.
- Growth: Hca Healthcare Inc generated 3.6% revenue growth year over year in Q3 2026, vs 3.3% for its competitors combined.
- Profitability: Its 8.0% net margin compares with 10.7% for the peer group.
- Scale: Hca Healthcare Inc ranks #1 of 51 companies by market capitalization in the Healthcare Facilities industry, holding 40.1% of industry market cap.
- Peer revenue share: Hca Healthcare Inc accounted for 56.1% of combined revenue among its tracked peer group, up from 56.0% a year earlier.
- Peer differentiation: Revenue per employee of $0.25M compares with $0.20M for the peer group (1.2x).
- Structure: Hca Healthcare Inc operates in the following segments: American Group, Atlantic Group, National Group, Corporate and Other.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
HCA Sales vs. its Competitors, Q3 2026
Hca Healthcare Inc reported revenue growth of 3.59 % year on year in Q3 2026, above its competitors' combined revenue growth of 3.31 %.
With a net margin of 7.96 %, Hca Healthcare Inc reported lower profitability than its competitors (10.65 %).
Hca Healthcare Inc generated 56.05 % of the combined sales of its peer group, up from 55.99 % a year earlier.
API endpoints for this dataset
Hca Healthcare Inc vs. its Competitors, Q3 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Hca Healthcare Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Hca Healthcare Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Hca Healthcare Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (5) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Hca Healthcare Inc's competitor groups requires a Commercial License.
For context: the Healthcare Facilities industry grew revenue 14.7% year over year, combined, vs 3.6% for Hca Healthcare Inc. Hca Healthcare Inc's share of combined industry revenue moved from 18.38% to 16.60%, a loss of 1.78 percentage points.
Hca Healthcare Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Hca Healthcare Inc | Yes | Yes | Yes | No |
| Competitors combined (25) | ||||
| High-Confidence Competitors (1) | ||||
| Similar-Size Competitors (5) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
HCA Stock Performance relative to its Competitors
HCA Stock Performance relative to High-Confidence Competitors
HCA Stock Performance relative to Similar-Size Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Lifestance Health Group Inc | 282.9% | Outperformed |
| 2 | Delcath Systems Inc | 282.9% | Outperformed |
| 3 | Acadia Healthcare Company Inc | 282.9% | Outperformed |
| 4 | National Healthcare Corp | 282.9% | Outperformed |
| 5 | Davita Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Hca Healthcare Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Publicly Traded Peers of Hca Healthcare Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Hca Healthcare Inc |
107,517.77 | 78,701.00 |
 Tenet Healthcare Corp |
22,836.40 | 22,154.00 |
 Encompass Health Corporation |
13,712.74 | 6,338.10 |
 Davita Inc |
12,534.19 | 14,167.55 |
 Universal Health Services Inc |
11,712.40 | 18,114.49 |
 Ensign Group Inc |
10,738.59 | 5,674.31 |
| SUBTOTAL | 216,158.30 | 191,652.34 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Hca Healthcare Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Hca Healthcare Inc's Competitors Named by the Company
Competitive relationships identified from Hca Healthcare Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Surgery Partners Inc | Company report | 85% |
| Community Health Systems Inc | Company report | 85% |
| Universal Health Services Inc | Company report | 85% |
| Encompass Health Corporation | Company report | 85% |
| Tenet Healthcare Corp | Company report | 85% |
| Nutex Health Inc | Company report | 85% |
| Select Medical Holdings Corp | Company report | 85% |
| Radnet Inc | Company report | 85% |
| National Healthcare Corp | Company report | 85% |
| Acadia Healthcare Company Inc | Company report | 85% |
| Davita Inc | Company report | 85% |
| Imac Holdings Inc | Company report | 85% |
| Privia Health Group Inc | Company report | 85% |
| Sunlink Health Systems Inc | Company report | 85% |
| Ardent Health Inc | Company report | 85% |
| Ensign Group Inc | Company report | 85% |
| Pediatrix Medical Group Inc | Company report | 85% |
| First Choice Healthcare Solutions Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Hca Healthcare Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Hca Healthcare Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Hca Healthcare Inc | American Group 34.50 % |
| Tenet Healthcare Corp | Hospital Operations 75.65 % |
| Encompass Health Corporation | Inpatient Rehabilitation 100.00 % |
| Davita Inc | U. S. Dialysis And Related Lab Services 84.64 % |
| Universal Health Services Inc | Acute Care Hospital Services 58.40 % |
| Ensign Group Inc | Skilled Services 95.82 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Hca Healthcare Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Hca Healthcare Inc | 107,518 | 245,941 | 22,806 |
| Tenet Healthcare Corp | 22,836 | 223,778 | 38,525 |
| Encompass Health Corporation | 13,713 | 150,907 | 19,252 |
| Davita Inc | 12,534 | 181,635 | 15,028 |
| Universal Health Services Inc | 11,712 | 178,468 | 15,273 |
| Ensign Group Inc | 10,739 | 123,354 | 8,682 |
| PEERS TOTAL | 108,641 | 200,177 | 13,705 |
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Hca Healthcare Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Delcath Systems Inc | Non-US 7.20 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Hca Healthcare Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 48 companies in Hca Healthcare Inc's industry classification, broader than the peer set above. Market cap in millions of $.Hca Healthcare Inc ranks #1 of 48 companies by market capitalization in its industry, holding 40.05 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,834, indicating a moderately concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Hca Healthcare Inc | 110,298 | 40.05 % |
| 2 | Tenet Healthcare Corp | 23,790 | 8.64 % |
| 3 | Brightspring Health Services Inc | 14,792 | 5.37 % |
| 4 | Encompass Health Corporation | 13,754 | 4.99 % |
| 5 | Davita Inc | 1,234 | 5.2% |
| 6 | Universal Health Services Inc | 1,234 | 5.2% |
| 7 | Ensign Group Inc | 1,234 | 5.2% |
| 8 | Pacs Group Inc | 1,234 | 5.2% |
| 9 | Chemed Corporation | 1,234 | 5.2% |
| 10 | Fresenius Medical Care Ag | 1,234 | 5.2% |
Market cap and industry share for the rest of Hca Healthcare Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Hca Healthcare Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Hca Healthcare Inc | 110,298 | 4.58 % |
| 2 | Tenet Healthcare Corp | 23,790 | 35.63 % |
| 3 | Brightspring Health Services Inc | 1,234 | 12.3% |
| 4 | Encompass Health Corporation | 1,234 | 12.3% |
| 5 | Davita Inc | 1,234 | 12.3% |
| 6 | Universal Health Services Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Hca Healthcare Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Hca Healthcare Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Healthcare Facilities industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (113 companies). See the full Healthcare Facilities industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 0.00 % | 34.25 % (avg) | -34.2 pp |
| Operating Margin | - | industry median | - |
| EBITDA Margin | 18.75 % | 2.94 % (avg) | +15.8 pp |
| Capital Intensity (Capex / Revenue) | 6.60 % | 3.80 % (avg) | +2.8 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Hca Healthcare Inc's Valuation vs Competitive Position
Valuation multiples vs the Healthcare Facilities industry average (113 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Healthcare Facilities industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 14.3x | 21.2x | -7.0x |
| EV / EBITDA | 9.3x | 13.9x | -4.6x |
| P/B | -20.9x | 3.1x | -24.0x |
| Return on Equity | - | industry aggregate | - |
| Return on Invested Capital | - | 1.98 % (avg) | - |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Hca Healthcare Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | -2.05 % | 9.98 % | 0.38 % | 17.67 % | 0.84 % | 7.86 % | 8.67 % | 7.08 % |
| Operating Margin | -123.57 % | 49.08 % | 48.38 % | 54.12 % | 51.27 % | 49.87 % | 51.18 % | 51.92 % |
| Return on Invested Capital | -197.13 % | 68.40 % | 59.59 % | 70.94 % | 71.23 % | 68.25 % | 77.69 % | 94.11 % |
| P/E | 12.5x | 14.2x | 14.5x | 10.1x | 12.4x | 13.8x | 16.7x | 17.3x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Hca Healthcare Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Hca Healthcare Inc falls in the Cash Cow quadrant: relative market share of 4.64x vs its largest competitor, in an industry growing revenue 5.2% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Hca Healthcare Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 1,834 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 6.60 % vs industry average 3.80 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Hca Healthcare Inc's dedicated Suppliers and Customers pages, not here.
Hca Healthcare Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Hca Healthcare Inc falls in the Medium attractiveness / High strength cell: Invest / Grow.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Hca Healthcare Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Market leader by capitalization in its industry (#1 of 48, 40.05 % share).
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
Opportunities
No rule matched.
Threats
- Losing revenue share to the broader industry (-1.8 points over the past year).
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: see Methodology: SWOT Analysis.
Hca Healthcare Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Hca Healthcare Inc | 0.05 | 0.90 | - |
| Tenet Healthcare Corp | 0.50 | 1.51 | 3.47 |
| Encompass Health Corporation | 0.10 | 1.14 | 1.16 |
| Davita Inc | 0.21 | 1.39 | - |
| Universal Health Services Inc | 0.04 | 1.07 | 0.72 |
| Ensign Group Inc | 0.46 | 1.34 | 0.05 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Hca Healthcare Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Hca Healthcare Inc | Q3 2026 | +3.6 % | -17.0 % |
| Tenet Healthcare Corp | Q3 2026 | +6.5 % | +110.5 % |
| Encompass Health Corporation | Q3 2026 | +8.9 % | -14.1 % |
| Davita Inc | Q3 2026 | +4.6 % | -7.2 % |
| Universal Health Services Inc | Q2 2026 | +8.3 % | +0.5 % |
| Ensign Group Inc | Q3 2026 | +14.5 % | +24.3 % |
| PEERS TOTAL | +3.9 % | +2.3 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Hca Healthcare Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Hca Healthcare Inc | Q3 2026 | - | +5.4 % |
| Tenet Healthcare Corp | Q3 2026 | +25.7 % | -29.3 % |
| Encompass Health Corporation | Q3 2026 | - | +25.3 % |
| Davita Inc | Q3 2026 | - | -4.0 % |
| Universal Health Services Inc | Q2 2026 | - | -14.4 % |
| Ensign Group Inc | Q3 2026 | +11.7 % | - |
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Hca Healthcare Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Hca Healthcare Inc | 11.73% | 15.54% | - |
| Tenet Healthcare Corp | 12.39% | 10.91% | 57.13% |
| Encompass Health Corporation | 10.99% | 10.41% | 24.08% |
| Davita Inc | 6.65% | 6.13% | - |
| Universal Health Services Inc | 9.92% | 12.43% | 20.89% |
| Ensign Group Inc | 7.00% | 5.94% | 16.62% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Hca Healthcare Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Hca Healthcare Inc | 17.25 | 1.37 |
| Tenet Healthcare Corp | 8.25 | 1.03 |
| Encompass Health Corporation | 21.50 | 2.16 |
| Davita Inc | 15.81 | 0.88 |
| Universal Health Services Inc | 8.01 | 0.65 |
| Ensign Group Inc | 26.91 | 1.89 |
| PEERS AVERAGE | 14.38 | 1.13 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.