Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is HCA Healthcare, Inc. (HCA) Halal?

FAIL

HCA Healthcare, Inc. · NYSE: HCA · Healthcare

The short answer

No - HCA Healthcare, Inc. (HCA) fails this Shariah stock screen on the debt gate alone. HCA Healthcare, the Nashville-based hospital operator, earns its revenue from health care services (190 hospitals, 121 ambulatory surgery centers, 31 endoscopy centers; FY2025 revenues $75,600M) - none of which involve alcohol production, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance as a core activity. The financial ratios are decisive: total debt of $46,492M is about 50.03% of its ~$92.95B market cap ($423.39/share, October 2026), above the ~33% ceiling. Interest income is effectively ~0% (not separately disclosed in the filings; Zoya independently records $0), below the 5% ceiling. Musaffa and ShariaPortfolio independently rate HCA Healthcare not halal / not Shariah Compliant. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

Gate 1 — Business activity: PASS

HCA Healthcare, Inc. (NYSE: HCA), headquartered in Nashville, Tennessee (incorporated Delaware, October 2010), is one of the leading health care services companies in the United States. Per its Form 10-K for the fiscal year ended December 31, 2025 (accessed via quartr-hosted reproduction of the SEC filing; CIK 0000860730; auditor Ernst & Young LLP, Nashville), at December 31, 2025 it operated 190 hospitals (179 general acute care hospitals with 50,436 licensed beds, 7 behavioral hospitals, 4 rehabilitation hospitals), 121 freestanding ambulatory surgery centers (ASCs) and 31 freestanding endoscopy centers, in 19 states and England. Services include internal medicine, general surgery, cardiology, oncology, neurosurgery, orthopedics, obstetrics, diagnostic/emergency services, plus freestanding emergency care, urgent care, walk-in clinics, physician practices, diagnostic centers, home health agencies, hospices, rehabilitation, and behavioral hospitals providing mental-health care. CEO: Sam Hazen; ~230,000 employees. Business-screen implication (factual): health care services - no alcohol production, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance as a core activity. The behavioral hospitals' 'alcohol and drug abuse treatment' is addiction treatment (a medical service), not alcohol production/distribution. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: FAIL

Per HCA Healthcare's Form 10-K for the fiscal year ended December 31, 2025 (accessed via quartr-hosted reproduction of the SEC filing; CIK 0000860730; $ millions), total debt at December 31, 2025 was: 'short-term borrowings and long-term debt due within one year' $4,889M + 'long-term debt, less debt issuance costs and discounts of $436' $41,603M = $46,492M. Against a market cap of about $92.95B ($423.39 per share, Finnhub, October 2026; sanity check: 224,605,100 shares outstanding x $423.39 = about $95.09B - within ~2%), debt / market cap is about 50.03% - above the ~33% ceiling. Footnote: the stockholders' deficit (-$2,771M) is a buyback artifact ($10,067M of share repurchases in 2025), not distress - operating cash flow was $12,636M FY2025. Cash and cash equivalents of $1,040M is about 1.12% of market cap. Gate 2 fails. Facts only.

Gate 3 — Non-compliant income: PASS

Per HCA Healthcare's Form 10-K for the fiscal year ended December 31, 2025 (accessed via quartr-hosted reproduction of the SEC filing; CIK 0000860730; $ millions), NO separate interest-income line is disclosed in the income statement. Zoya independently records HCA's FY2025 interest income as $0 on revenue of $75,600,000,000 (from its company data) - about 0% of revenue, below the 5% non-compliant income ceiling. Interest expense was $2,248M (cash interest paid $2,207M - corroborating the heavy debt load). So interest income is effectively ~0% on the evidence available. Gate 3 passes. Facts only - no interest-income figure is asserted beyond what the filing discloses.

Key figures used

Frequently asked questions

What does HCA Healthcare do?

HCA Healthcare, Inc. (NYSE: HCA), headquartered at One Park Plaza, Nashville, Tennessee (incorporated Delaware, October 2010), is one of the leading health care services companies in the United States. Per its Form 10-K for the fiscal year ended December 31, 2025 (accessed via quartr-hosted reproduction of the SEC filing; CIK 0000860730; auditor Ernst & Young LLP, Nashville; Commission File No. 1-11239): 190 hospitals at Dec 31, 2025 (179 general acute care hospitals with 50,436 licensed beds, 7 behavioral hospitals, 4 rehabilitation hospitals), 121 freestanding ambulatory surgery centers (ASCs) and 31 freestanding endoscopy centers, in 19 states and England. Services include internal medicine, general surgery, cardiology, oncology, neurosurgery, orthopedics, obstetrics, diagnostic/emergency services, plus freestanding emergency care, urgent care, walk-in clinics, physician practices, diagnostic centers, home health, hospices, rehabilitation, and behavioral hospitals providing mental-health care including addiction treatment. CEO: Sam Hazen; ~230,000 employees. Its common stock trades on the New York Stock Exchange (ticker HCA). FY2025 revenues were $75,600M (+7.1% YoY).

Why does HCA Healthcare fail this Shariah stock screen?

HCA Healthcare fails this Shariah stock screen on the debt gate. Gate 1 (business activity): health care services (hospitals, ambulatory surgery centers, endoscopy centers, home health, behavioral hospitals) - no alcohol production, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance as a core activity; the behavioral hospitals' alcohol and drug abuse treatment is addiction treatment (a medical service), not alcohol production/distribution - a clean business. Gate 2 (debt): total debt of $46,492M is about 50.03% of its ~$92.95B market cap (October 2026), above the ~33% ceiling - fails. Gate 3 (non-compliant income): no separate interest-income line is disclosed in the 10-K; Zoya independently records FY2025 interest income as $0 on revenue of $75,600M - about 0%, below the 5% ceiling - passes. Result: FAIL on the debt gate alone. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

What is HCA Healthcare's interest-bearing debt ratio?

Per HCA Healthcare's Form 10-K for the fiscal year ended December 31, 2025 (accessed via quartr-hosted reproduction of the SEC filing; CIK 0000860730; $ millions), total debt at December 31, 2025 was: 'short-term borrowings and long-term debt due within one year' $4,889M + 'long-term debt, less debt issuance costs and discounts of $436' $41,603M = $46,492M. Against a market cap of about $92.95B ($423.39 per share, Finnhub, October 2026; sanity check: 224,605,100 shares outstanding x $423.39 = about $95.09B - within ~2%), debt / market cap is about 50.03% - above the ~33% ceiling. Footnote: the stockholders' deficit (-$2,771M) is a buyback artifact ($10,067M of share repurchases in 2025), not distress - operating cash flow was $12,636M FY2025. Cash and cash equivalents of $1,040M is about 1.12% of market cap. Gate 2 fails. Facts only.

How much interest income does HCA Healthcare earn?

Per HCA Healthcare's Form 10-K for the fiscal year ended December 31, 2025 (accessed via quartr-hosted reproduction of the SEC filing; CIK 0000860730; $ millions), NO separate interest-income line is disclosed in the income statement. Zoya independently records HCA's FY2025 interest income as $0 on revenue of $75,600,000,000 (from its company data) - about 0% of revenue, below the 5% non-compliant income ceiling. Interest expense was $2,248M (cash interest paid $2,207M - corroborating the heavy debt load). So interest income is effectively ~0% on the evidence available. Gate 3 passes. Facts only - no interest-income figure is asserted beyond what the filing discloses.

Do Zoya, Musaffa, or ShariaPortfolio cover HCA Healthcare?

Zoya covers HCA at zoya.finance/stocks/hca, but its auto-generated FAQ text is garbled/contradictory (renders 'HCA is not Shariah-compliant and therefore considered halal to invest in' AND 'not Shariah-compliant and therefore not considered halal to invest in' fragments simultaneously) - no clean Zoya rating can be quoted, and none is quoted here. The consistent headline wording across fragments is 'not Shariah-compliant.' Musaffa covers HCA at musaffa.com/stock/HCA: 'As of October 2026, HCA Healthcare Inc is classified as not halal. NOT HALAL' (AAOIFI methodology). ShariaPortfolio covers HCA at spscreener.mxcorporate.com/ticker/hca-hca-healthcare-inc/: 'HCA Healthcare, Inc. is not Shariah Compliant because it fails the financial ratios.'

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).