How does HCA Healthcare (HCA) make money?

HCA Healthcare (HCA) generates revenue primarily from Managed Care And Other Insurers, which accounted for 48.9% of total revenue in TTM through Q2 2026. The company reported $78B in revenue and converted 8.8% of it into net profit, equivalent to roughly $6.84B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of HCA Healthcare (HCA)?

HCA Healthcare (HCA) reported a gross profit margin of 28.4% in TTM through Q2 2026, equivalent to $22.1B in gross profit on $78B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of HCA Healthcare (HCA)?

HCA Healthcare (HCA) reported an operating profit margin of 15.5% in TTM through Q2 2026, equivalent to $12.1B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of HCA Healthcare (HCA)?

HCA Healthcare (HCA) reported a net profit margin of 8.8% in TTM through Q2 2026, equivalent to $6.84B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is HCA Healthcare (HCA) profitable?

Yes. HCA Healthcare (HCA) reported $6.84B in net income for TTM through Q2 2026, with a net profit margin of 8.8%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does HCA Healthcare (HCA) spend on capital expenditures?

HCA Healthcare (HCA) spent $5.13B on capital expenditures (CapEx) during TTM through Q2 2026, roughly 6.6% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does HCA Healthcare (HCA) generate?

HCA Healthcare (HCA) generated $6B in free cash flow during TTM through Q2 2026, a free-cash-flow margin of 7.7%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of HCA Healthcare (HCA)?

HCA Healthcare (HCA) had an effective tax rate of 20.4% in TTM through Q2 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of HCA Healthcare (HCA)?

HCA Healthcare (HCA) reports revenue across 6 reportable product segments, led by Managed Care And Other Insurers at 48.9% of total revenue in TTM through Q2 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does HCA Healthcare (HCA) generate most of its revenue?

American Group is the largest geographic market for HCA Healthcare (HCA), accounting for 35.8% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How HCA Healthcare Makes Money: 2026 Visual Revenue Map

HCA Healthcare (HCA) Income Statement Flow — TTM through Q2 2026

Calculated from the four most recent reported quarters, ending June 30, 2026 (reported July 28, 2026).

HCA Healthcare (HCA) Revenue by Product Segment — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for HCA Healthcare (HCA), TTM through Q2 2026.
Segment	Revenue (USD)	% of total
Managed Care And Other Insurers	$38.1B	48.9%
Managed Medicare	$14.2B	18.2%
Medicare	$11.9B	15.3%
Medicaid	$7.76B	10%
Managed Medicaid	$3.98B	5.1%
International	$2.01B	2.6%
Total	$78B	100%

Managed Care And Other Insurers$38.1B
Managed Medicare$14.2B
Medicare$11.9B
Medicaid$7.76B
Managed Medicaid$3.98B
International$2.01B
Total$78B

HCA Healthcare (HCA) Revenue by Geography — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for HCA Healthcare (HCA), TTM through Q2 2026
Region	Revenue (USD)	% of total
American Group	$26.8B	35.8%
Atlantic Group	$26.4B	35.3%
National Group	$21.6B	28.9%
Total	$74.7B	100%

American Group
Atlantic Group
National Group
Total

Revenue Breakdown — TTM through Q2 2026

In TTM through Q2 2026, HCA Healthcare (HCA) reports revenue across 6 reportable product segments; the largest segment was Managed Care And Other Insurers at 48.9%, followed by Managed Medicare (18.2%) and Medicare (15.3%). Geographically, American Group accounted for 35.8% of revenue, followed by Atlantic Group (35.3%) and National Group (28.9%).

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