DaVita Inc.

DVA

HealthcareLarge CapUS Equities · NYSE / NASDAQ

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Company Profile

DaVita Inc. provides kidney dialysis services for patients suffering from chronic kidney failure in the United States. The company operates kidney dialysis centers and provides related lab services in outpatient dialysis centers. It also offers outpatient, hospital inpatient, and home-based hemodialysis dialysis services; operates clinical laboratories that provide routine laboratory tests for dialysis and other physician-prescribed laboratory tests for ESRD patients; and management and administrative services to outpatient dialysis centers. In addition, the company offers integrated care and disease management services to patients in risk-based and other integrated care arrangements; clinical research programs; physician services; and comprehensive kidney care services. Further, it engages in the transplant software business. The company was formerly known as DaVita HealthCare Partners Inc. and changed its name to DaVita Inc. in September 2016. DaVita Inc. was incorporated in 1994 and is headquartered in Denver, Colorado.

Valuation

Market Cap$12.3B

Current Price$211.10as of Jun 23, 2026

P/E Ratio16.52

P/B Ratio-18.94

EV / EBITDA9.29

EV / Sales1.80

Profitability

Operating Margin14.7%

Net Profit Margin5.5%

EBITDA Margin19.4%

Returns

ROE-114.7%

ROCE14.0%

ROIC %-

ROA4.3%

Solvency

Current Ratio1.29

Debt / Equity-19.77

Debt / Assets0.74

CFO / Net Profit2.53

Price History▲ 54.84% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$13.6B▲ 6.5%

EBITDA$2.6B▼ 3.0%

Net Profit$747M▼ 20.2%

Cash from Ops (CFO)$1.9B▼ 6.7%

Free Cash Flow (FCF)$1.3B▼ 10.6%

Revenue CAGR 3Y5.5%

Revenue CAGR 5Y-

Net Profit CAGR 3Y10.0%

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$13.6B	$2.6B	$747M	$1.3B	-114.7%	6.5%	-20.2%
2024	$12.8B	$2.7B	$936M	$1.5B	773.1%	5.6%	35.4%
2023	$12.1B	$2.3B	$692M	$1.5B	65.5%	4.6%	23.4%
2022	$11.6B	$2.1B	$560M	$961M	78.7%	-	-
2021	-	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	11,609.89	12,140.15	12,815.55	13,643.07
Operating Revenue	-	11,176.46	11,574.94	12,260.38	13,007.19
Cost Of Revenue	-	8,209.55	8,319.72	8,598.52	9,243.48
Gross Profit	-	3,400.34	3,820.43	4,217.03	4,399.59
Operating Expense	-	2,087.80	2,219.43	2,262.20	2,388.98
Selling General And Administration	-	1,355.20	1,473.98	1,538.34	1,673.63
Total Expenses	-	10,297.35	10,539.14	10,860.72	11,632.45
Operating Income	-	1,312.54	1,601	1,954.83	2,010.62
Total Operating Income As Reported	-	1,339.06	1,602.78	2,090.48	2,043.62
EBITDA	-	2,055.90	2,321.09	2,724.72	2,642.10
Normalized EBITDA	-	2,055.90	2,355.13	2,635.07	2,656.28
EBIT	-	1,323.30	1,575.64	2,000.86	1,926.75
Interest Expense	-	357.02	398.55	470.47	579.93
Net Interest Income	-	-357.02	-398.55	-470.47	-579.93
Other Non Operating Income Expenses	-	-15.76	-19.18	-69.81	-102.69
Other Income Expense	-	10.76	-25.36	46.03	-83.87
Interest Expense Non Operating	-	357.02	398.55	470.47	579.93
Net Non Operating Interest Income Expense	-	-357.02	-398.55	-470.47	-579.93
Pretax Income	-	966.28	1,177.09	1,530.39	1,346.82
Tax Provision	-	198.09	220.12	279.66	293.11
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	0	-8.27	16.38	-3.09
Net Income Continuous Operations	-	768.19	956.98	1,250.74	1,053.72
Net Income From Continuing And Discontinued Operation	-	560.40	691.54	936.34	746.80
Net Income From Continuing Operation Net Minority Interest	-	546.95	691.54	936.34	721.80
Net Income	-	560.40	691.54	936.34	746.80
Net Income Common Stockholders	-	560.40	691.54	936.34	746.80
Net Income Including Noncontrolling Interests	-	781.64	956.98	1,250.74	1,078.72
Normalized Income	-	546.95	717.31	863.07	732.90
Diluted NI Availto Com Stockholders	-	560.40	691.54	936.34	746.80
Basic Average Shares	-	92.99	90.79	84.99	74.23
Diluted Average Shares	-	95.83	93.18	87.27	75.89
Reconciled Depreciation	-	732.60	745.44	723.86	715.35
Reconciled Cost Of Revenue	-	8,209.55	8,319.72	8,598.52	9,243.48
Total Unusual Items	-	0	-34.04	89.65	-14.18
Total Unusual Items Excluding Goodwill	-	0	-34.04	89.65	-14.18
Minority Interests	-	-221.24	-265.44	-314.40	-331.91
Net Income Discontinuous Operations	-	13.45	0	0	25
Special Income Charges	-	0	-34.04	89.65	-14.18
Gain On Sale Of Business	0	0	-	-	-
Other Special Charges	-	-	7.96	19.81	14.18
Impairment Of Capital Assets	-	0	26.08	0	0
Restructuring And Mergern Acquisition	-	0	0	-109.47	0
Depreciation Amortization Depletion Income Statement	-	732.60	745.44	723.86	715.35
Depreciation And Amortization In Income Statement	-	732.60	745.44	723.86	715.35
General And Administrative Expense	-	1,355.20	1,473.98	1,538.34	1,673.63
Other Gand A	-	1,355.20	1,473.98	1,538.34	1,673.63
Earnings From Equity Interest	-	26.52	27.86	26.19	33

Peer Comparison

Healthcare sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
DaVita Inc.this co.	DVA	$12.3B	16.52↓ discount	-18.94	-114.7%	9.29
Incyte Corporation	INCY	$20.2B	15.72	3.91	24.9%	9.75
Viatris Inc.	VTRS	$18.5B	-	1.26	-23.9%	-
Zimmer Biomet Holdings, Inc.	ZBH	$16.8B	23.79	1.32	5.6%	10.69
Solventum Corporation	SOLV	$14.3B	9.17	2.83

Learn while you research

Hand-picked academy chapters to deepen your understanding of DaVita Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Sector Analysis Matters

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$13.6B

$2.6B

$747M

$1.3B

-114.7%

6.5%

-20.2%

2024

$12.8B

$2.7B

$936M

$1.5B

773.1%

5.6%

35.4%

2023

$12.1B

$2.3B

$692M

$1.5B

65.5%

4.6%

23.4%

2022

$11.6B

$2.1B

$560M

$961M

78.7%

2021

Metric

2021

2022

2023

2024

2025

Total Revenue

11,609.89

12,140.15

12,815.55

13,643.07

Operating Revenue

11,176.46

11,574.94

12,260.38

13,007.19

Cost Of Revenue

8,209.55

8,319.72

8,598.52

9,243.48

Gross Profit

3,400.34

3,820.43

4,217.03

4,399.59

Operating Expense

2,087.80

2,219.43

2,262.20

2,388.98

Selling General And Administration

1,355.20

1,473.98

1,538.34

1,673.63

Total Expenses

10,297.35

10,539.14

10,860.72

11,632.45

Operating Income

1,312.54

1,601

1,954.83

2,010.62

Total Operating Income As Reported

1,339.06

1,602.78

2,090.48

2,043.62

EBITDA

2,055.90

2,321.09

2,724.72

2,642.10

Normalized EBITDA

2,055.90

2,355.13

2,635.07

2,656.28

EBIT

1,323.30

1,575.64

2,000.86

1,926.75

Interest Expense

357.02

398.55

470.47

579.93

Net Interest Income

-357.02

-398.55

-470.47

-579.93

Other Non Operating Income Expenses

-15.76

-19.18

-69.81

-102.69

Other Income Expense

10.76

-25.36

46.03

-83.87

Interest Expense Non Operating

357.02

398.55

470.47

579.93

Net Non Operating Interest Income Expense

-357.02

-398.55

-470.47

-579.93

Pretax Income

966.28

1,177.09

1,530.39

1,346.82

Tax Provision

198.09

220.12

279.66

293.11

Tax Rate For Calcs

Tax Effect Of Unusual Items

-8.27

16.38

-3.09

Net Income Continuous Operations

768.19

956.98

1,250.74

1,053.72

Net Income From Continuing And Discontinued Operation

560.40

691.54

936.34

746.80

Net Income From Continuing Operation Net Minority Interest

546.95

691.54

936.34

721.80

Net Income

560.40

691.54

936.34

746.80

Net Income Common Stockholders

560.40

691.54

936.34

746.80

Net Income Including Noncontrolling Interests

781.64

956.98

1,250.74

1,078.72

Normalized Income

546.95

717.31

863.07

732.90

Diluted NI Availto Com Stockholders

560.40

691.54

936.34

746.80

Basic Average Shares

92.99

90.79

84.99

74.23

Diluted Average Shares

95.83

93.18

87.27

75.89

Reconciled Depreciation

732.60

745.44

723.86

715.35

Reconciled Cost Of Revenue

8,209.55

8,319.72

8,598.52

9,243.48

Total Unusual Items

-34.04

89.65

-14.18

Total Unusual Items Excluding Goodwill

-34.04

89.65

-14.18

Minority Interests

-221.24

-265.44

-314.40

-331.91

Net Income Discontinuous Operations

13.45

Special Income Charges

-34.04

89.65

-14.18

Gain On Sale Of Business

Other Special Charges

7.96

19.81

14.18

Impairment Of Capital Assets

26.08

Restructuring And Mergern Acquisition

-109.47

Depreciation Amortization Depletion Income Statement

732.60

745.44

723.86

715.35

Depreciation And Amortization In Income Statement

732.60

745.44

723.86

715.35

General And Administrative Expense

1,355.20

1,473.98

1,538.34

1,673.63

Other Gand A

1,355.20

1,473.98

1,538.34

1,673.63

Earnings From Equity Interest

26.52

27.86

26.19

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

DaVita Inc.this co.

DVA

$12.3B

16.52↓ discount

-18.94

-114.7%

9.29

Incyte Corporation

INCY

$20.2B

15.72

3.91

24.9%

9.75

Viatris Inc.

VTRS

$18.5B

1.26

-23.9%

Zimmer Biomet Holdings, Inc.

ZBH

$16.8B

23.79

1.32

5.6%

10.69

Solventum Corporation

SOLV

$14.3B

9.17

2.83

DaVita Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

DaVita Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on