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HCA Healthcare vs Universal Health Services: revenue, profit, margins and growth compared

HCA Healthcare brought in $75.6B of revenue in fiscal 2025, Universal Health Services $17.4B in fiscal 2025. Revenue changed by +7.1% at HCA Healthcare and +9.7% at Universal Health Services on the year before, so Universal Health Services grew faster. HCA Healthcare kept 9.0% of its revenue as net profit, Universal Health Services 8.6%. Free cash flow was $7.7B at HCA Healthcare and $849.2M at Universal Health Services.

Side by side, latest fiscal year

HCAUHS
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$75.6B$17.4B
Revenue growth+7.1%+9.7%
Net income$6.8B$1.5B
Net margin9.0%8.6%
Free cash flow$7.7B$849.2M
Free cash flow margin10.2%4.9%
Earnings per share (diluted)$28.33$23.10
Cash$1B$137.8M
Debt$44.3B$4.8B
Price to earnings15.47.7
Market value$94.3B$10.5B
Dividend yield0.66%0.45%
Rank by revenue in sector#10 of 523 · Health care#31 of 523 · Health care

Over the years

Revenue
HCA FY2018: $46.7BHCA FY2019: $51.3BHCA FY2020: $51.5BHCA FY2021: $58.8BHCA FY2022: $60.2BHCA FY2023: $65BHCA FY2024: $70.6BHCA FY2025: $75.6BUHS FY2018: $10.8BUHS FY2019: $11.4BUHS FY2020: $11.6BUHS FY2021: $12.6BUHS FY2022: $13.4BUHS FY2023: $14.3BUHS FY2024: $15.8BUHS FY2025: $17.4BFY18FY19FY20FY21FY22FY23FY24FY25
HCA $75.6BUHS $17.4B
Net income
HCA FY2018: $3.8BHCA FY2019: $3.5BHCA FY2020: $3.8BHCA FY2021: $7BHCA FY2022: $5.6BHCA FY2023: $5.2BHCA FY2024: $5.8BHCA FY2025: $6.8BUHS FY2018: $779.7MUHS FY2019: $814.9MUHS FY2020: $944MUHS FY2021: $991.6MUHS FY2022: $675.6MUHS FY2023: $717.8MUHS FY2024: $1.1BUHS FY2025: $1.5BFY18FY19FY20FY21FY22FY23FY24FY25
HCA $6.8BUHS $1.5B
Net margin
HCA FY2018: 8.1%HCA FY2019: 6.8%HCA FY2020: 7.3%HCA FY2021: 11.8%HCA FY2022: 9.4%HCA FY2023: 8.1%HCA FY2024: 8.2%HCA FY2025: 9.0%UHS FY2018: 7.2%UHS FY2019: 7.2%UHS FY2020: 8.2%UHS FY2021: 7.8%UHS FY2022: 5.0%UHS FY2023: 5.0%UHS FY2024: 7.2%UHS FY2025: 8.6%FY18FY19FY20FY21FY22FY23FY24FY25
HCA 9.0%UHS 8.6%
Revenue growth
HCA FY2019: +10.0%HCA FY2020: +0.4%HCA FY2021: +14.0%HCA FY2022: +2.5%HCA FY2023: +7.9%HCA FY2024: +8.7%HCA FY2025: +7.1%UHS FY2019: +5.6%UHS FY2020: +1.6%UHS FY2021: +9.4%UHS FY2022: +6.0%UHS FY2023: +6.6%UHS FY2024: +10.8%UHS FY2025: +9.7%FY19FY20FY21FY22FY23FY24FY25
HCA +7.1%UHS +9.7%
Free cash flow
HCA FY2018: $3.2BHCA FY2019: $3.4BHCA FY2020: $6.4BHCA FY2021: $5.4BHCA FY2022: $4.1BHCA FY2023: $4.7BHCA FY2024: $5.6BHCA FY2025: $7.7BUHS FY2018: $609.8MUHS FY2019: $804.4MUHS FY2020: $1.6BUHS FY2021: $28MUHS FY2022: $262MUHS FY2023: $524.7MUHS FY2024: $1.1BUHS FY2025: $849.2MFY18FY19FY20FY21FY22FY23FY24FY25
HCA $7.7BUHS $849.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about HCA Healthcare and Universal Health Services

Which is bigger by revenue, HCA Healthcare or Universal Health Services?

HCA Healthcare is bigger by revenue: $75.6B in fiscal 2025, against $17.4B for Universal Health Services in fiscal 2025.

Which keeps more of its revenue as profit, HCA Healthcare or Universal Health Services?

HCA Healthcare had a net margin of 9.0% in fiscal 2025; Universal Health Services had 8.6% in fiscal 2025.

Which grew revenue faster, HCA Healthcare or Universal Health Services?

In their latest fiscal years revenue changed by +7.1% at HCA Healthcare and +9.7% at Universal Health Services.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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