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HCA HealthcareHCA +1.51%93 Return-on-Tangible-Asset is 12.78% as of Mar. 2026, which is 7% above its 10-year median of 11.91. GuruFocus rates HCA with a GF Score™ of 93/100 and a GF Value™ of $453.91 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 679 Healthcare Providers & Services companies, HCA Healthcare ranks better than 89.1% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. HCA Healthcare's annualizedNet Income for the quarter that ended in Mar. 2026 was $6,480 Mil. HCA Healthcare's average total tangible assets for the quarter that ended in Mar. 2026 was $50,687 Mil. Therefore, HCA Healthcare's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 12.78%.
The historical rank and industry rank for HCA Healthcare's Return-on-Tangible-Asset or its related term are showing as below:
HCA'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 7.88 Med: 11.91 Max: 17.37
Current: 13.61
During the past 13 years, HCA Healthcare's highest Return-on-Tangible-Asset was 17.37%. The lowest was 7.88%. And the median was 11.91%.
HCA's Return-on-Tangible-Asset is ranked better than 89.1% of 679
companies
in the Healthcare Providers & Services industry
Industry Median: 2.51
vs HCA: 13.61
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
HCA Healthcare Return-on-Tangible-Asset Related Terms
HCA Healthcare Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for HCA Healthcare's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
HCA vs THC, DVA, EHC: Return-on-Tangible-Asset Comparison
For the Medical Care Facilities subindustry, HCA Healthcare's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
HCA Healthcare Return-on-Tangible-Asset vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, HCA Healthcare's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where HCA Healthcare's Return-on-Tangible-Asset falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 12.78% mean?
HCA Healthcare (HCA) has a Return-on-Tangible-Asset of 12.78% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on HCA Healthcare and its competitors. This is near median its historical median of 11.91. Over the past decade, HCA Healthcare's Return-on-Tangible-Asset has ranged from 7.88 to 17.37. According to the industry distribution chart, HCA Healthcare ranks #74 out of 679 companies in the Healthcare Providers & Services industry, placing it in the top 10.9%.
Is HCA Healthcare's Return-on-Tangible-Asset too high?
HCA Healthcare's current Return-on-Tangible-Asset of 12.78% is near median its 10-year median of 11.91. Over the past 10 years, this metric has ranged from a low of 7.88 to a high of 17.37. The Healthcare Providers & Services industry median Return-on-Tangible-Asset is 2.51. HCA Healthcare's value of 12.78% is 409.2% above this industry median. Based on the distribution chart, HCA Healthcare ranks #74 out of 679 companies in the Healthcare Providers & Services industry, which is in the top quartile — a strong position relative to peers. Overall, HCA Healthcare has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does HCA Healthcare's Return-on-Tangible-Asset compare to THC and DVA?
According to the Healthcare Providers & Services industry distribution chart, HCA Healthcare ranks #74 out of 679 companies for Return-on-Tangible-Asset. This places HCA Healthcare in the top 11% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.51. HCA Healthcare's value of 12.78% is 409.2% above this benchmark. Historically, HCA Healthcare's own Return-on-Tangible-Asset has ranged from 7.88 to 17.37 over the past decade. While the company's 10-year median is 11.91 vs. the industry median of 2.51, HCA Healthcare has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Healthcare Providers & Services company?
The median Return-on-Tangible-Asset among Healthcare Providers & Services companies is 2.51, based on 679 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. HCA Healthcare's current Return-on-Tangible-Asset of 12.78% is 409.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on HCA Healthcare and its competitors. For the Healthcare Providers & Services industry, the median Return-on-Tangible-Asset is 2.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. HCA Healthcare's current Return-on-Tangible-Asset is 12.78%, which is near median its own 10-year median of 11.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HCA Healthcare stock overvalued right now?
Based on GuruFocus' analysis, HCA Healthcare (HCA) is currently considered Modestly Undervalued. The stock's GF Value™ is $453.91, compared to a current price of $382.19 — trading 15.8% below its estimated fair value. The current Return-on-Tangible-Asset is 12.78%, which is near median its 10-year median of 11.91 and 409.2% above the Healthcare Providers & Services industry median of 2.51. HCA Healthcare's overall GF Score™ is 93/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For HCA Healthcare (HCA), the current Return-on-Tangible-Asset is 12.78% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is HCA Healthcare (HCA) Overvalued in 2026?
Based on GuruFocus' analysis, HCA Healthcare stock appears to be undervalued.
The current stock price of $382.19 is trading 15.8% below its estimated GF Value™ of $453.91.
GuruFocus considers HCA Healthcare to be Modestly Undervalued.
Key valuation signals for HCA:
Return-on-Tangible-Asset: 12.78% (near median its 10-year median of 11.91)
GF Value™: $453.91 vs. price of $382.19 (15.8% below fair value)
Industry Position: 409.2% above the Healthcare Providers & Services median (#74 of 679)
No single metric tells the full story. See the HCA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
HCA Healthcare is a Nashville-based healthcare provider organization operating the largest collection of acute-care hospitals in the United States. As of December 2025, the firm owned and operated 190 hospitals and over 2,500 outpatient facillities across 19 states and a small foothold in the United Kingdom.
93GF Score
Get the complete analysis for HCA
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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