Short answer
HCA Healthcare (HCA) filed its Q3 2025 10-Q quarterly report on Oct 30, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $19.2B (up 9.6% year over year) with net income of $1.6B.
Q3 2025 key financials · XBRL
- Revenue
- $19.2B
- +9.6% YoY · +3.0% QoQ
- Net income
- $1.6B
- +29.4% YoY · −0.6% QoQ
- EPS (diluted)
- $6.95
- +41.8% YoY · +1.8% QoQ
Source: XBRL data from the HCA Healthcare (HCA) Q3 2025 10-Q on SEC EDGAR. USD.
HCA Healthcare Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Quarterly revenue $19.161B, up 9.6% YoY from $17.487B in Q3 2024
- Net income $1.643B, operating margin 8.6% vs 7.3% YoY; EPS $6.96 vs $4.88 in Q3 2024
- Best segment: Medicaid revenue up 58% YoY to $1.783B, largest growth; Worst: Other revenue down 32% YoY to $651M
- Operating cash flow increased $901M to $4.416B; share repurchases $7.509B YTD 2025 vs $4.342B YTD 2024
- Management highlights risks from OBBBA legislation, potential 4% Medicare cuts in 2026, and expiration of enhanced premium tax credits after 2025
Risk Factors
- No new or updated risk factors since 2024 10-K or recent 2025 10-Q filings
- Continued exposure to reimbursement rate cuts from government healthcare programs impacting revenue
- Ongoing regulatory risk from evolving healthcare compliance and patient privacy laws
- Operational risk from competitive pressures in hospital and outpatient services markets
- Financial risk from debt maturity schedule and potential liquidity fluctuations remains unchanged
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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