Intrinsic value of HCA Healthcare - HCA

Previous Close

$135.86

  Intrinsic Value

$33.48

stock screener

  Rating & Target

str. sell

-75%

Previous close

$135.86

 
Intrinsic value

$33.48

 
Up/down potential

-75%

 
Rating

str. sell

We calculate the intrinsic value of HCA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 47.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  7.40
  7.16
  6.94
  6.75
  6.57
  6.42
  6.28
  6.15
  6.03
  5.93
  5.84
  5.75
  5.68
  5.61
  5.55
  5.49
  5.44
  5.40
  5.36
  5.32
  5.29
  5.26
  5.24
  5.21
  5.19
  5.17
  5.16
  5.14
  5.13
  5.11
Revenue, $m
  46,841
  50,195
  53,681
  57,304
  61,072
  64,991
  69,069
  73,315
  77,739
  82,348
  87,155
  92,169
  97,402
  102,867
  108,575
  114,540
  120,776
  127,299
  134,122
  141,263
  148,738
  156,566
  164,764
  173,353
  182,352
  191,784
  201,671
  212,036
  222,904
  234,301
Variable operating expenses, $m
  39,526
  42,303
  45,190
  48,190
  51,310
  54,555
  57,932
  61,448
  65,111
  68,928
  72,168
  76,320
  80,654
  85,178
  89,905
  94,844
  100,009
  105,409
  111,059
  116,972
  123,162
  129,644
  136,432
  143,544
  150,996
  158,806
  166,993
  175,576
  184,575
  194,012
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  39,526
  42,303
  45,190
  48,190
  51,310
  54,555
  57,932
  61,448
  65,111
  68,928
  72,168
  76,320
  80,654
  85,178
  89,905
  94,844
  100,009
  105,409
  111,059
  116,972
  123,162
  129,644
  136,432
  143,544
  150,996
  158,806
  166,993
  175,576
  184,575
  194,012
Operating income, $m
  7,315
  7,892
  8,491
  9,114
  9,762
  10,436
  11,137
  11,867
  12,628
  13,421
  14,987
  15,849
  16,749
  17,688
  18,670
  19,696
  20,768
  21,889
  23,063
  24,291
  25,576
  26,922
  28,332
  29,809
  31,356
  32,978
  34,678
  36,460
  38,329
  40,289
EBITDA, $m
  10,015
  10,732
  11,478
  12,252
  13,058
  13,896
  14,768
  15,676
  16,621
  17,607
  18,635
  19,707
  20,826
  21,994
  23,215
  24,490
  25,823
  27,218
  28,677
  30,204
  31,802
  33,476
  35,229
  37,065
  38,989
  41,006
  43,120
  45,336
  47,659
  50,096
Interest expense (income), $m
  1,666
  1,785
  1,351
  1,488
  1,630
  1,778
  1,932
  2,091
  2,258
  2,431
  2,611
  2,799
  2,995
  3,199
  3,413
  3,636
  3,868
  4,112
  4,366
  4,632
  4,910
  5,201
  5,506
  5,825
  6,159
  6,509
  6,876
  7,261
  7,664
  8,087
  8,530
Earnings before tax, $m
  5,530
  6,540
  7,003
  7,484
  7,984
  8,504
  9,046
  9,610
  10,197
  10,810
  12,188
  12,854
  13,549
  14,275
  15,034
  15,827
  16,656
  17,524
  18,431
  19,381
  20,375
  21,416
  22,507
  23,649
  24,847
  26,102
  27,417
  28,796
  30,242
  31,759
Tax expense, $m
  1,493
  1,766
  1,891
  2,021
  2,156
  2,296
  2,442
  2,595
  2,753
  2,919
  3,291
  3,471
  3,658
  3,854
  4,059
  4,273
  4,497
  4,731
  4,976
  5,233
  5,501
  5,782
  6,077
  6,385
  6,709
  7,047
  7,403
  7,775
  8,165
  8,575
Net income, $m
  4,037
  4,775
  5,112
  5,463
  5,828
  6,208
  6,604
  7,015
  7,444
  7,891
  8,897
  9,383
  9,891
  10,421
  10,975
  11,554
  12,159
  12,792
  13,455
  14,148
  14,874
  15,634
  16,430
  17,264
  18,138
  19,054
  20,014
  21,021
  22,077
  23,184

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  39,297
  42,110
  45,034
  48,074
  51,235
  54,522
  57,944
  61,506
  65,217
  69,084
  73,117
  77,323
  81,713
  86,298
  91,086
  96,091
  101,322
  106,794
  112,519
  118,509
  124,781
  131,347
  138,225
  145,430
  152,980
  160,893
  169,187
  177,882
  187,000
  196,561
Adjusted assets (=assets-cash), $m
  39,297
  42,110
  45,034
  48,074
  51,235
  54,522
  57,944
  61,506
  65,217
  69,084
  73,117
  77,323
  81,713
  86,298
  91,086
  96,091
  101,322
  106,794
  112,519
  118,509
  124,781
  131,347
  138,225
  145,430
  152,980
  160,893
  169,187
  177,882
  187,000
  196,561
Revenue / Adjusted assets
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
  1.192
Average production assets, $m
  22,156
  23,742
  25,391
  27,105
  28,887
  30,741
  32,670
  34,678
  36,770
  38,951
  41,224
  43,596
  46,071
  48,656
  51,356
  54,177
  57,127
  60,212
  63,440
  66,817
  70,353
  74,056
  77,933
  81,996
  86,253
  90,714
  95,390
  100,293
  105,434
  110,824
Working capital, $m
  3,513
  3,765
  4,026
  4,298
  4,580
  4,874
  5,180
  5,499
  5,830
  6,176
  6,537
  6,913
  7,305
  7,715
  8,143
  8,591
  9,058
  9,547
  10,059
  10,595
  11,155
  11,742
  12,357
  13,001
  13,676
  14,384
  15,125
  15,903
  16,718
  17,573
Total debt, $m
  25,026
  27,558
  30,190
  32,926
  35,770
  38,729
  41,809
  45,015
  48,354
  51,835
  55,464
  59,250
  63,201
  67,327
  71,637
  76,141
  80,849
  85,774
  90,926
  96,317
  101,961
  107,872
  114,062
  120,546
  127,341
  134,463
  141,927
  149,753
  157,959
  166,564
Total liabilities, $m
  35,367
  37,899
  40,531
  43,267
  46,111
  49,070
  52,150
  55,356
  58,695
  62,176
  65,805
  69,591
  73,542
  77,668
  81,978
  86,482
  91,190
  96,115
  101,267
  106,658
  112,302
  118,213
  124,403
  130,887
  137,682
  144,804
  152,268
  160,094
  168,300
  176,905
Total equity, $m
  3,930
  4,211
  4,503
  4,807
  5,123
  5,452
  5,794
  6,151
  6,522
  6,908
  7,312
  7,732
  8,171
  8,630
  9,109
  9,609
  10,132
  10,679
  11,252
  11,851
  12,478
  13,135
  13,823
  14,543
  15,298
  16,089
  16,919
  17,788
  18,700
  19,656
Total liabilities and equity, $m
  39,297
  42,110
  45,034
  48,074
  51,234
  54,522
  57,944
  61,507
  65,217
  69,084
  73,117
  77,323
  81,713
  86,298
  91,087
  96,091
  101,322
  106,794
  112,519
  118,509
  124,780
  131,348
  138,226
  145,430
  152,980
  160,893
  169,187
  177,882
  187,000
  196,561
Debt-to-equity ratio
  6.370
  6.540
  6.700
  6.850
  6.980
  7.100
  7.220
  7.320
  7.410
  7.500
  7.590
  7.660
  7.730
  7.800
  7.860
  7.920
  7.980
  8.030
  8.080
  8.130
  8.170
  8.210
  8.250
  8.290
  8.320
  8.360
  8.390
  8.420
  8.450
  8.470
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  4,037
  4,775
  5,112
  5,463
  5,828
  6,208
  6,604
  7,015
  7,444
  7,891
  8,897
  9,383
  9,891
  10,421
  10,975
  11,554
  12,159
  12,792
  13,455
  14,148
  14,874
  15,634
  16,430
  17,264
  18,138
  19,054
  20,014
  21,021
  22,077
  23,184
Depreciation, amort., depletion, $m
  2,700
  2,840
  2,986
  3,138
  3,296
  3,460
  3,631
  3,808
  3,993
  4,186
  3,648
  3,858
  4,077
  4,306
  4,545
  4,794
  5,056
  5,329
  5,614
  5,913
  6,226
  6,554
  6,897
  7,256
  7,633
  8,028
  8,442
  8,875
  9,330
  9,807
Funds from operations, $m
  6,737
  7,615
  8,099
  8,601
  9,124
  9,668
  10,234
  10,823
  11,437
  12,077
  12,545
  13,241
  13,968
  14,727
  15,520
  16,348
  17,215
  18,121
  19,069
  20,061
  21,100
  22,187
  23,327
  24,520
  25,771
  27,082
  28,456
  29,897
  31,407
  32,992
Change in working capital, $m
  242
  252
  261
  272
  283
  294
  306
  318
  332
  346
  360
  376
  392
  410
  428
  447
  468
  489
  512
  536
  561
  587
  615
  644
  675
  707
  741
  777
  815
  855
Cash from operations, $m
  6,495
  7,363
  7,837
  8,330
  8,842
  9,374
  9,928
  10,505
  11,106
  11,732
  12,185
  12,865
  13,576
  14,317
  15,092
  15,901
  16,747
  17,632
  18,557
  19,525
  20,539
  21,600
  22,712
  23,876
  25,096
  26,374
  27,715
  29,119
  30,592
  32,137
Maintenance CAPEX, $m
  -1,827
  -1,961
  -2,101
  -2,247
  -2,399
  -2,556
  -2,720
  -2,891
  -3,069
  -3,254
  -3,447
  -3,648
  -3,858
  -4,077
  -4,306
  -4,545
  -4,794
  -5,056
  -5,329
  -5,614
  -5,913
  -6,226
  -6,554
  -6,897
  -7,256
  -7,633
  -8,028
  -8,442
  -8,875
  -9,330
New CAPEX, $m
  -1,508
  -1,586
  -1,649
  -1,714
  -1,782
  -1,854
  -1,929
  -2,009
  -2,092
  -2,180
  -2,273
  -2,372
  -2,475
  -2,585
  -2,700
  -2,822
  -2,950
  -3,085
  -3,228
  -3,378
  -3,536
  -3,702
  -3,878
  -4,062
  -4,257
  -4,461
  -4,676
  -4,903
  -5,141
  -5,391
Cash from investing activities, $m
  -3,335
  -3,547
  -3,750
  -3,961
  -4,181
  -4,410
  -4,649
  -4,900
  -5,161
  -5,434
  -5,720
  -6,020
  -6,333
  -6,662
  -7,006
  -7,367
  -7,744
  -8,141
  -8,557
  -8,992
  -9,449
  -9,928
  -10,432
  -10,959
  -11,513
  -12,094
  -12,704
  -13,345
  -14,016
  -14,721
Free cash flow, $m
  3,160
  3,816
  4,087
  4,369
  4,661
  4,964
  5,279
  5,605
  5,945
  6,297
  6,464
  6,845
  7,242
  7,655
  8,086
  8,535
  9,003
  9,491
  10,001
  10,534
  11,090
  11,672
  12,280
  12,917
  13,583
  14,280
  15,010
  15,775
  16,576
  17,416
Issuance/(repayment) of debt, $m
  -8,032
  2,532
  2,632
  2,736
  2,845
  2,959
  3,079
  3,206
  3,340
  3,481
  3,629
  3,786
  3,951
  4,126
  4,310
  4,504
  4,709
  4,925
  5,152
  5,392
  5,644
  5,910
  6,190
  6,485
  6,795
  7,121
  7,465
  7,826
  8,206
  8,605
Issuance/(repurchase) of shares, $m
  6,699
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -1,333
  2,532
  2,632
  2,736
  2,845
  2,959
  3,079
  3,206
  3,340
  3,481
  3,629
  3,786
  3,951
  4,126
  4,310
  4,504
  4,709
  4,925
  5,152
  5,392
  5,644
  5,910
  6,190
  6,485
  6,795
  7,121
  7,465
  7,826
  8,206
  8,605
Total cash flow (excl. dividends), $m
  1,826
  6,349
  6,719
  7,104
  7,505
  7,923
  8,358
  8,811
  9,284
  9,778
  10,093
  10,631
  11,193
  11,781
  12,396
  13,039
  13,711
  14,416
  15,153
  15,925
  16,734
  17,582
  18,470
  19,402
  20,378
  21,402
  22,475
  23,601
  24,782
  26,021
Retained Cash Flow (-), $m
  -10,736
  -281
  -292
  -304
  -316
  -329
  -342
  -356
  -371
  -387
  -403
  -421
  -439
  -458
  -479
  -500
  -523
  -547
  -572
  -599
  -627
  -657
  -688
  -721
  -755
  -791
  -829
  -870
  -912
  -956
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -8,909
  6,067
  6,427
  6,801
  7,189
  7,594
  8,016
  8,455
  8,913
  9,391
  9,690
  10,211
  10,754
  11,323
  11,917
  12,538
  13,188
  13,868
  14,580
  15,326
  16,107
  16,925
  17,783
  18,681
  19,623
  20,610
  21,646
  22,731
  23,870
  25,065
Discount rate, %
  13.40
  14.07
  14.77
  15.51
  16.29
  17.10
  17.96
  18.86
  19.80
  20.79
  21.83
  22.92
  24.06
  25.27
  26.53
  27.86
  29.25
  30.71
  32.25
  33.86
  35.55
  37.33
  39.20
  41.16
  43.22
  45.38
  47.65
  50.03
  52.53
  55.16
PV of cash for distribution, $m
  -7,857
  4,663
  4,251
  3,820
  3,381
  2,945
  2,523
  2,123
  1,754
  1,421
  1,104
  858
  652
  483
  349
  246
  168
  112
  72
  45
  27
  16
  9
  5
  2
  1
  1
  0
  0
  0
Current shareholders' claim on cash, %
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

HCA Healthcare, Inc., formerly HCA Holdings, Inc., is a holding company. The Company, through its subsidiaries, owns and operates hospitals and related healthcare entities. As of December 31, 2016, the Company operated in two geographically organized groups, including the National and American Groups. As of December 31, 2016, the National Group included 84 hospitals, which were located in Alaska, California, Florida, southern Georgia, Idaho, Indiana, northern Kentucky, Nevada, New Hampshire, South Carolina, Utah and Virginia. As of December 31, 2016, the American Group included 80 hospitals, which were located in Colorado, northern Georgia, Kansas, southern Kentucky, Louisiana, Mississippi, Missouri, Oklahoma, Tennessee and Texas. As of December 31, 2016, the Company operated six hospitals in England. The Company owns, manages or operates hospitals, freestanding surgery centers and freestanding emergency care facilities, walk-in clinics, diagnostic and imaging centers, among others.

FINANCIAL RATIOS  of  HCA Healthcare (HCA)

Valuation Ratios
P/E Ratio 17.4
Price to Sales 1.2
Price to Book -6.9
Price to Tangible Book
Price to Cash Flow 8.9
Price to Free Cash Flow 17.4
Growth Rates
Sales Growth Rate 4.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 16.2%
Cap. Spend. - 3 Yr. Gr. Rate 7.3%
Financial Strength
Quick Ratio 3
Current Ratio 0.2
LT Debt to Equity -426.7%
Total Debt to Equity -429.7%
Interest Coverage 4
Management Effectiveness
Return On Assets 12.3%
Ret/ On Assets - 3 Yr. Avg. 10.9%
Return On Total Capital 12.3%
Ret/ On T. Cap. - 3 Yr. Avg. 10.3%
Return On Equity -38.8%
Return On Equity - 3 Yr. Avg. -29.8%
Asset Turnover 1.2
Profitability Ratios
Gross Margin 83.3%
Gross Margin - 3 Yr. Avg. 83.2%
EBITDA Margin 20.3%
EBITDA Margin - 3 Yr. Avg. 19.5%
Operating Margin 15.5%
Oper. Margin - 3 Yr. Avg. 14.5%
Pre-Tax Margin 11.6%
Pre-Tax Margin - 3 Yr. Avg. 10.3%
Net Profit Margin 7%
Net Profit Margin - 3 Yr. Avg. 5.8%
Effective Tax Rate 28.6%
Eff/ Tax Rate - 3 Yr. Avg. 30.8%
Payout Ratio 0%

HCA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the HCA stock intrinsic value calculation we used $43614 million for the last fiscal year's total revenue generated by HCA Healthcare. The default revenue input number comes from 0001 income statement of HCA Healthcare. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our HCA stock valuation model: a) initial revenue growth rate of 7.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 13.4%, whose default value for HCA is calculated based on our internal credit rating of HCA Healthcare, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of HCA Healthcare.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of HCA stock the variable cost ratio is equal to 84.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for HCA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for HCA Healthcare.

Corporate tax rate of 27% is the nominal tax rate for HCA Healthcare. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the HCA stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for HCA are equal to 47.3%.

Life of production assets of 11.3 years is the average useful life of capital assets used in HCA Healthcare operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for HCA is equal to 7.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $-6806 million for HCA Healthcare - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 346.046 million for HCA Healthcare is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of HCA Healthcare at the current share price and the inputted number of shares is $47.0 billion.

RELATED COMPANIES Price Int.Val. Rating
CYH Community Heal 4.62 7.04  str.buy
THC Tenet Healthca 23.32 33.79  hold
UHS Universal Heal 126.22 135.61  hold
SGRY Surgery Partne 12.98 313.83  str.buy
HLTH Nobilis Health 0.350 4.44  str.buy

COMPANY NEWS

▶ Metro Orlando to get 3 new hospitals   [Dec-11-18 10:48AM  American City Business Journals]
▶ Here are Central Florida's busiest hospitals   [Dec-10-18 09:30AM  American City Business Journals]
▶ Nashville marks the spot where HCA was born   [Dec-07-18 02:22PM  American City Business Journals]
▶ Tommy Frist Jr., Milton Johnson help open HCA-funded zoo hospital   [Dec-05-18 02:57PM  American City Business Journals]
▶ 6 Central Florida hospitals make top national list for 2018   [11:26AM  American City Business Journals]
▶ Amazon's arrival in Nashville will jolt apartment rents yet again, analyst says   [Dec-04-18 03:46PM  American City Business Journals]
▶ Healthcare Takes Wall Street Lead: 4 Picks   [Dec-03-18 09:35AM  Zacks]
▶ 14 of the Best Performing Stocks in 2018   [05:07AM  GOBankingRates]
▶ This Loudoun hospital has a new CEO   [Nov-26-18 03:00PM  American City Business Journals]
▶ Memorial Hospital of Tampa to build out robotic operating room   [Nov-23-18 07:54AM  American City Business Journals]
▶ Tech Takes Another Big Bite Out of the Market   [Nov-20-18 09:15AM  Zacks]
▶ Nashville chamber releases part of Amazon HQ2 bid but secrets remain   [Nov-19-18 06:21PM  American City Business Journals]
▶ Tech chiefs say Amazon won't make tech talent harder to find   [Nov-13-18 03:59PM  American City Business Journals]
▶ New Week Starts with New Selloff   [09:15AM  Zacks]
▶ Florida Hospital breaks ground on Oviedo freestanding ER   [Nov-05-18 12:40PM  American City Business Journals]
▶ Three Steps That Help Make This One Of The Best Mutual Funds   [08:00AM  Investor's Business Daily]
▶ This young Orlando-area hospital CEO doesn't stay in his ivory tower   [Nov-03-18 08:30AM  American City Business Journals]
▶ HCA/UCFs $175M Lake Nona teaching hospital to add jobs, research potential   [Nov-01-18 12:20PM  American City Business Journals]
▶ HCA Healthcare Boosts Guidance After an Upbeat Quarter   [Oct-31-18 02:50PM  Motley Fool]
▶ US Stock Market Rises Tuesday   [01:47PM  GuruFocus.com]
▶ HCA's incoming CEO on why he sees more success in the company's future   [01:43PM  American City Business Journals]
▶ [$$] HCA Raises Profit, Revenue Guidance   [12:07PM  The Wall Street Journal]
▶ HCA Earnings, Revenue beat in Q3   [11:36AM  Investing.com]
▶ HCA: 3Q Earnings Snapshot   [09:03AM  Associated Press]
▶ HCA Reports Third Quarter 2018 Results   [08:30AM  Business Wire]
▶ UCF, HCA break ground on $175M Lake Nona teaching hospital   [Oct-25-18 03:25PM  American City Business Journals]
▶ 3 health care companies to lay off dozens, Miami hospital to close   [02:32PM  American City Business Journals]
▶ The 25 Biggest U.S. IPOs of All Time   [Oct-19-18 02:28PM  Kiplinger]
▶ South Bay Hospital promotes interim leader to CEO spot   [Oct-18-18 12:36PM  American City Business Journals]
▶ TriStar names CEO for new behavioral health facility   [Oct-17-18 12:22PM  American City Business Journals]
▶ Cramer's 5 health-care stocks he likes right now   [Oct-16-18 07:22PM  CNBC Videos]
▶ Apple Leads 5 Top Stocks Flexing Strength Amid Market Correction   [Oct-15-18 09:00AM  Investor's Business Daily]
▶ How this woman will develop the UCF Lake Nona Medical Center from scratch   [Oct-09-18 03:25PM  American City Business Journals]
▶ HCA 3rd Quarter 2018 Earnings Conference Call   [Oct-04-18 04:15PM  Business Wire]
▶ UCF Lake Nona Medical Center names CEO   [Sep-28-18 01:52PM  American City Business Journals]
▶ 40 Under 40: Todd Shafer; HCA Healthcare Inc., See Level Consulting   [08:28AM  American City Business Journals]
▶ London tech company launches Nashville office   [Sep-21-18 03:27PM  American City Business Journals]
▶ HCA's incoming CEO on what makes a good leader   [08:39AM  American City Business Journals]
▶ Lake Nona appears set to land big biotech facility   [Sep-20-18 09:25AM  American City Business Journals]
▶ Startup backed by HCA, Martin Ventures bought by Texas company   [07:58AM  American City Business Journals]
▶ Here's how much money Milton Johnson will make as an HCA adviser   [Sep-13-18 03:03PM  American City Business Journals]
▶ Lee's Summit Medical Center names new CEO   [Sep-12-18 01:19PM  American City Business Journals]
▶ Meet HCA Healthcare's new CEO   [Sep-11-18 08:52AM  American City Business Journals]
▶ [$$] HCA Healthcare Names Sam Hazen as New CEO   [Sep-10-18 08:56PM  The Wall Street Journal]
▶ HCA's Milton Johnson to retire, next CEO revealed   [01:47PM  American City Business Journals]
▶ [$$] HCA Healthcare Names New CEO   [10:12AM  The Wall Street Journal]
▶ HCA's Milton Johnson to retire, next CEO revealed   [10:10AM  American City Business Journals]

CONTACT US       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.