• HCA Healthcare average debt/equity ratio for 2023 was 93.66, a 328.26% decline from 2022.
• HCA Healthcare average debt/equity ratio for 2022 was 21.87, a 23% increase from 2021.
• HCA Healthcare average debt/equity ratio for 2021 was 17.78, a 19.69% increase from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.