FirmAtlas
Company handbook · DVA · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16
DVA · CIK 927066 · LATEST FILING: 10-Q JUN '26 · FILED AUG 4, 2026
DAVITA INC.
$187.31
−1.85 (−0.98%)
Close, Oct 16, 2026 · 52-week $101–247
Last fiscal year
DAVITA INC. reported revenue of $13.6B for the year ended Dec 31, 2025 (FY25), up 6.5% from FY24. Net income was $747M, operating cash flow $1.9B and free cash flow $1.3B. Source: 10-K filed Feb 11, 2026.
Market cap
$12.8B
P/E
15.2
EV/EBITDA
8.1x
P/B
n/m
ROIC
18.7%
Revenue 1Y
6.5%/yr
EPS 1Y
−8.3%/yr
Shares 1Y
−15%
Loading chart…
Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOJavier J. Rodriguez
HQDenver, CO
AuditorKPMG LLP
Year endsDecember
Revenue by segment · FY25
US Dialysis And Related Lab Services86%
All Other Segments14%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
11.5%
10.8%
35.9%
49.5%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$4.2B deployed
Capex
$1.1B
27.0%
Acquisitions
$364M
8.7%
Buybacks
$2.7B
64.3%
Operating cash flow over the period: $3.9B. Total debt changed by +$988M.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
12,816
13,643+6.5%
14,010
YoY
+6.5%
Operating income
2,090
2,044−2.2%
2,128
Operating margin
16.3%
15.0%−1.3 pp
—
EBITDA
2,807
2,752−2.0%
—
EBITDA margin
21.9%
20.2%−1.7 pp
—
Interest expense
435
540+24.1%
—
Interest coverage
6.45x
5.10x−1.35x
—
Net income
936
747−20.2%
847
YoY
−20.2%
Net margin
7.3%
5.5%−1.8 pp
—
EPS (diluted, $)
10.73
9.84−8.3%
12.35
YoY
−8.3%
Balance sheet
Total assets
17,285
17,480+1.1%
17,709
Cash & short-term investments
931
782−16.0%
—
Accounts receivable
2,147
2,415+12.5%
—
Inventory
135
161+19.4%
—
Net PP&E
2,941
2,813−4.4%
—
Other assets
11,132
11,310+1.6%
—
Total liabilities
17,164
18,131+5.6%
18,475
Accounts payable
547
696+27.2%
—
Total debt
9,176
10,164+10.8%
10,664
Other liabilities
7,441
7,271−2.3%
—
Shareholders’ equity
121
(651)−637.5%
(765)
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
2,022
1,886−6.7%
2,193
Net income
1,251
1,079−13.8%
—
Depreciation & amortization
716
708−1.1%
—
Stock-based compensation
103
140+36.2%
—
Working capital & other
(48)
(40)n/m
—
Cash from investing
(771)
(655)n/m
—
Capex
(555)
(576)n/m
—
Acquisitions
(246)
(117)n/m
—
Other investing
30
38+27.6%
—
Cash from financing
(817)
(1,375)n/m
—
Debt raised
6,624
5,612−15.3%
—
Dividends
0
0n/m
—
Buybacks
(1,386)
(1,308)n/m
—
Shares issued
0
0n/m
—
Other financing
(6,055)
(5,679)n/m
—
Net change in cash
415
(122)−129.4%
—
Free cash flow (OCF − capex)
1,467
1,311−10.6%
1,610
Where the cash went
Operating cash flow
2,022
1,886−6.7%
2,193
Reinvested in the business
802
693−13.5%
—
% of operating cash flow
39.6%
36.8%
Capex
555
576+3.7%
583
Acquisitions
246
117−52.3%
—
Free cash flow
1,467
1,311−10.6%
1,610
YoY
−10.6%
Returned to shareholders
1,386
1,308−5.6%
—
% of free cash flow
94.5%
99.8%
Dividends
0
0n/m
—
Buybacks
1,386
1,308−5.6%
—
Change in total debt
—
988
—
Cash left over
—
873
—
FCF conversion (FCF ÷ net income)
156.6%
175.5%+18.9 pp
—
Owner earnings
—
734
—
Owner earnings margin
—
5.4%
—
Returns & ratios
ROIC (all capital)
20.4%
18.7%−1.7 pp
—
ROIC (operating)
36.5%
34.1%−2.4 pp
—
Net debt / EBITDA
2.94x
3.41x+0.47x
—
Debt / equity
75.76x
n/m
—
ROE
773.1%
−114.7%−887.8 pp
—
ROA
5.4%
4.3%−1.1 pp
—
ROCE
14.6%
14.3%−0.4 pp
—
NOPAT
1,708
1,599−6.4%
—
Invested capital (operating)
4,675
4,692+0.4%
—
Invested capital (all)
8,366
8,731+4.4%
—
Reinvestment rate
—
1.1%
—
Net debt is 3.4x EBITDA (FY25).
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
3,420
3,620
3,416
3,554
vs year-ago quarter
Operating income
506
561
482
579
Net income
150
234
198
265
vs year-ago quarter
Net margin
4.4%
6.5%
5.8%
7.5%
EPS (diluted, $)
2.04
3.42
2.87
4.02
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
17,556
17,480
17,499
17,709
Cash & equivalents
795
782
726
752
Total debt
10,184
10,164
10,514
10,664
Shareholders’ equity
(572)
(651)
(755)
(765)
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
842
541
321
490
Capex
166
145
102
170
Free cash flow
675
395
219
320
vs year-ago quarter