HCA Holdings Inc (HCA)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 37,169,000 | 37,714,000 | 34,342,000 | 30,795,000 | 33,577,000 |
| Total assets | US$ in thousands | 56,211,000 | 52,438,000 | 50,742,000 | 47,490,000 | 45,058,000 |
| Debt-to-assets ratio | 0.66 | 0.72 | 0.68 | 0.65 | 0.75 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $37,169,000K ÷ $56,211,000K
= 0.66
The debt-to-assets ratio of HCA Healthcare Inc has shown some fluctuations over the past five years. The ratio was 0.75 in 2019, decreased to 0.65 in 2020, increased to 0.68 in 2021, and then further increased to 0.73 in 2022. However, in 2023, the ratio decreased to 0.70.
A higher debt-to-assets ratio indicates that a larger proportion of the company's assets are financed by debt. HCA Healthcare Inc's ratio has been above 0.65 for the past five years, indicating that a significant portion of its assets are funded by debt.
While the ratio has varied over the years, it is crucial to consider the trend over time and compare it to industry benchmarks to assess the company's financial leverage and risk management. Overall, the decreasing trend from 2022 to 2023 may suggest a more conservative approach to debt financing or an improvement in asset efficiency.
Peer comparison
Dec 31, 2023