HCA Healthcare (HCA) Q3 2025 10-Q Quarterly Report
Filed: Oct 30, 2025Period ending Sep 30, 2025
Health Care
Services-General Medical & Surgical Hospitals, NECSEC EDGAR HCA Healthcare (HCA) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 30, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
HCA Healthcare Q3 2025 10-Q Analysis
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
HCA Healthcare Q3 2025 Quarterly FinancialsXBRL
Revenue
$19.2B
▲ +9.6% YoY▲ +3.0% QoQ
Net Income
$1.6B
▲ +29.4% YoY▼ -0.6% QoQ
Net Margin
8.6%
▲ +131bp YoY▼ -31bp QoQ
Source: XBRL data from HCA Healthcare Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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