Earnings Per Share

12 Months Ended

Dec. 31, 2025

NOTE 5 — EARNINGS PER SHARE

We compute basic earnings per share using the weighted average number of common shares outstanding. We compute diluted earnings per share using the weighted average number of common shares outstanding plus the dilutive effect of outstanding SARs, RSUs and PSUs, computed using the treasury stock method. During 2025, 2024 and 2023, we repurchased 26.739 million shares, 17.798 million shares and 14.465 million shares, respectively, of our common stock.

The following table sets forth the computations of basic and diluted earnings per share for the years ended December 31, 2025, 2024 and 2023 (dollars and shares in millions, except per share amounts):


	2025		2024		2023
Net income attributable to HCA Healthcare, Inc.	$	6,784	$	5,760	$	5,242

Weighted average common shares outstanding		236.413		258.603		272.404
Effect of dilutive incremental shares		3.082		3.203		4.008
Shares used for diluted earnings per share		239.495		261.806		276.412
Earnings per share:
Basic earnings per share	$	28.70	$	22.27	$	19.25
Diluted earnings per share	$	28.33	$	22.00	$	18.97

HCA Healthcare, Inc. 10-K