Nashville, Tenn.-based HCA Healthcare reported a net income of $6.8 billion in 2025, a 17.8% increase year over year, according to its Jan. 27 financial report.
Seven things to know:
1. The for-profit system reported revenue of $75.6 billion for the 12 months ended Dec. 31, up from $70.6 billion last year.
2. HCA reported expenses of $65.8 billion in 2025, up from $62.1 billion in 2024. Salaries and benefits totaled $32.9 billion, up from $32.2 billion. Supply costs totaled $11.4 billion, up from $10.8 billion.
3. HCA posted a $37 million gain from facility sales in 2025, up from $14 million last year.
4. Same-facility admissions in 2025 grew 2.3% year over year, while equivalent admissions increased 2.4%. Emergency room visits rose 1.8%, inpatient surgeries grew 0.4% and outpatient surgeries decreased 0.5%.
5. The system issued its 2026 guidance and is projecting a net income between $6.5 billion and $7 billion. It is projecting revenue between $76.5 billion and $80 billion. Capital expenditures, excluding acquisitions, are estimated to range between $5 billion and $5.5 billion.
6. “We finished 2025 with strong performance consistent with previous quarters. Our investments in network expansion, workforce development and advancing clinical capabilities further strengthened the HCA Healthcare system,” CEO Sam Hazen said in the release.
7. As of Dec. 31, HCA operated 190 hospitals and about 2,500 ambulatory care sites in 19 states and the United Kingdom.
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