HCA Healthcare, Inc. (HCA)

Services-General Medical & Surgical Hospitals, NEC

Latest Price

$425.49

TTM P/E

14.66

Normalized P/E

18.67

Div Yield

0.69%

Book Value

P/B Ratio

Valuation metrics

Norm. op. income: $10.3B (median of 7yr)

Tax rate: 21%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$148.91

65% downside

Base FCF: $5.4B (median of recent 5yr)

Growth: 17%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$776.48

+82% upside

EPS: $28.33

Target P/E: 19×

Formula: EPS × P/E

P/E Fair Value

$538.27

+27% upside

58.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	13.00M	$5.07B	5.84%	-359.7K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	10.14M	$3.95B	4.56%	-36.7K	2026-06-30
Sanders Capital, LLC	8.83M	$3.44B	3.97%	-128.9K	2026-06-30
STATE STREET CORP	7.47M	$2.91B	3.36%	-70.5K	2026-06-30
WELLINGTON MANAGEMENT GROUP LLP	4.71M	$1.83B	2.12%	+799.8K	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	3.67M	$1.42B	1.65%	-24.5K	2026-06-30
First Eagle Investment Management, LLC	3.30M	$1.28B	1.48%	+41.0K	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	2.71M	$1.06B	1.22%	-45.0K	2026-06-30
MORGAN STANLEY	2.59M	$1.01B	1.16%	+291.9K	2026-06-30
GOLDMAN SACHS GROUP INC	2.47M	$962.0M	1.11%	+328.2K	2026-06-30