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HCA HealthcareHCA -3.77%91 ROC (Joel Greenblatt) % is 30.68% as of Mar. 2026, which is 2% below its 10-year median of 31.30. GuruFocus rates HCA with a GF Score™ of 91/100 and a GF Value™ of $453.74 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 669 Healthcare Providers & Services companies, HCA Healthcare ranks better than 74.74% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. HCA Healthcare's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 30.68%.
The historical rank and industry rank for HCA Healthcare's ROC (Joel Greenblatt) % or its related term are showing as below:
HCA'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 25.27 Med: 31.3 Max: 40.02
Current: 32.99
During the past 13 years, HCA Healthcare's highest ROC (Joel Greenblatt) % was 40.02%. The lowest was 25.27%. And the median was 31.30%.
HCA's ROC (Joel Greenblatt) % is ranked better than 74.74% of 669
companies
in the Healthcare Providers & Services industry
Industry Median: 12.46
vs HCA: 32.99
HCA Healthcare's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 1.10% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
HCA Healthcare ROC (Joel Greenblatt) % Related Terms
HCA Healthcare ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for HCA Healthcare's ROC (Joel Greenblatt) % 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: ROC (Joel Greenblatt) % Comparison
For the Medical Care Facilities subindustry, HCA Healthcare's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, HCA Healthcare's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where HCA Healthcare's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 30.68% mean?
HCA Healthcare (HCA) has a ROC (Joel Greenblatt) % of 30.68% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on HCA Healthcare and its competitors. This is near median its historical median of 31.30. Over the past decade, HCA Healthcare's ROC (Joel Greenblatt) % has ranged from 25.27 to 40.02. According to the industry distribution chart, HCA Healthcare ranks #169 out of 669 companies in the Healthcare Providers & Services industry, placing it in the top 25.3%.
Is HCA Healthcare's ROC (Joel Greenblatt) % too high?
HCA Healthcare's current ROC (Joel Greenblatt) % of 30.68% is near median its 10-year median of 31.30. Over the past 10 years, this metric has ranged from a low of 25.27 to a high of 40.02. The Healthcare Providers & Services industry median ROC (Joel Greenblatt) % is 12.46. HCA Healthcare's value of 30.68% is 146.2% above this industry median. Based on the distribution chart, HCA Healthcare ranks #169 out of 669 companies in the Healthcare Providers & Services industry, which is above the industry midpoint. Overall, HCA Healthcare has a GF Score™ of 91/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does HCA Healthcare's ROC (Joel Greenblatt) % compare to THC and DVA?
According to the Healthcare Providers & Services industry distribution chart, HCA Healthcare ranks #169 out of 669 companies for ROC (Joel Greenblatt) %. This puts HCA Healthcare in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 12.46. HCA Healthcare's value of 30.68% is 146.2% above this benchmark. Historically, HCA Healthcare's own ROC (Joel Greenblatt) % has ranged from 25.27 to 40.02 over the past decade. While the company's 10-year median is 31.30 vs. the industry median of 12.46, 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 ROC (Joel Greenblatt) % for a Healthcare Providers & Services company?
The median ROC (Joel Greenblatt) % among Healthcare Providers & Services companies is 12.46, based on 669 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. HCA Healthcare's current ROC (Joel Greenblatt) % of 30.68% is 146.2% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on HCA Healthcare and its competitors. For the Healthcare Providers & Services industry, the median ROC (Joel Greenblatt) % is 12.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. HCA Healthcare's current ROC (Joel Greenblatt) % is 30.68%, which is near median its own 10-year median of 31.30. 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 $453.74, compared to a current price of $371.18 — trading 18.2% below its estimated fair value. The current ROC (Joel Greenblatt) % is 30.68%, which is near median its 10-year median of 31.30 and 146.2% above the Healthcare Providers & Services industry median of 12.46. HCA Healthcare's overall GF Score™ is 91/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For HCA Healthcare (HCA), the current ROC (Joel Greenblatt) % is 30.68% 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 $371.18 is trading 18.2% below its estimated GF Value™ of $453.74.
GuruFocus considers HCA Healthcare to be Modestly Undervalued.
Key valuation signals for HCA:
ROC (Joel Greenblatt) %: 30.68% (near median its 10-year median of 31.30)
GF Value™: $453.74 vs. price of $371.18 (18.2% below fair value)
Industry Position: 146.2% above the Healthcare Providers & Services median (#169 of 669)
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.
91GF Score
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