Direct Answer
HCA Healthcare reports revenue across 4 business segments in its fiscal 2025 Form 10-K. American Group is the largest, with $26.4 billion of revenue (35% of the total), followed by Atlantic Group at $24.7 billion (33%).
How Does HCA Healthcare Make Money?
No single line supplies a majority of revenue: the largest, American Group, is 35%, which spreads HCA Healthcare's exposure across several demand drivers. Between fiscal 2024 and 2025, Corporate and Other grew fastest (+9.3%) and Atlantic Group slowest (+5.7%), so the revenue mix tilts toward Corporate and Other while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| American Group | $26.4 billion | $24.7 billion | 35.0% | 7.2% |
| Atlantic Group | $24.7 billion | $23.4 billion | 32.7% | 5.7% |
| National Group | $21.3 billion | $19.7 billion | 28.1% | 8.3% |
| Corporate and Other | $3.2 billion | $2.9 billion | 4.2% | 9.3% |
What the Segment Figures Do Not Show
The rows above add up to 100% of HCA Healthcare's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value HCA Healthcare reported in the segment note and revenue disclosures of its Form 10-K filed February 10, 2026 (accession 0001193125-26-044769), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are HCA Healthcare's business segments?
In its fiscal 2025 Form 10-K, HCA Healthcare reports revenue for American Group, Atlantic Group, National Group and Corporate and Other.
Which part of HCA Healthcare brings in the most revenue?
American Group, with $26.4 billion of revenue in fiscal 2025, or 35% of the total.
Where does HCA Healthcare report its segment results?
In the segment note to the financial statements in its Form 10-K, most recently filed February 10, 2026, alongside management's discussion of each segment's results.