DaVita (DVA) Financials

$139.82 +1.63 (+1.18%)

Closing price 05/27/2025 03:59 PM Eastern

Extended Trading

$139.50 -0.32 (-0.23%)

As of 04:02 AM Eastern

Annual Income Statements for DaVita

This table shows DaVita's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	936	692	560	978	774	811	159	664	880	270
Consolidated Net Income / (Loss)	1,251	957	782	1,212	995	1,021	333	831	1,033	427
Net Income / (Loss) Continuing Operations	1,251	957	768	1,212	1,004	916	790	1,076	1,191	481
Total Pre-Tax Income	1,530	1,177	966	1,518	1,318	1,195	1,048	1,400	1,623	688
Total Operating Income	2,090	1,603	1,339	1,797	1,695	1,643	1,526	1,813	2,030	1,137
Total Gross Profit	4,217	3,820	3,400	3,646	3,562	3,474	3,209	3,237	3,264	3,117
Total Revenue	12,816	12,140	11,610	11,619	11,551	11,388	11,405	11,362	11,139	10,395
Operating Revenue	12,816	12,140	11,610	11,619	11,551	11,388	11,454	11,362	11,139	9,155
Total Cost of Revenue	8,599	8,320	8,210	7,972	7,989	7,914	8,196	8,125	7,875	7,278
Operating Cost of Revenue	8,599	8,320	8,210	7,972	7,989	7,914	8,196	7,640	7,432	6,856
Total Operating Expenses	2,127	2,218	2,061	1,849	1,867	1,831	1,698	1,438	1,234	1,980
Selling, General & Admin Expense	1,538	1,474	1,355	1,195	1,248	1,103	1,135	1,064	1,073	1,031
Depreciation Expense	724	745	733	681	630	615	591	560	509	464
Impairment Charge	0.00	26	0.00	0.00	-	125	20	331	43	4.07
Other Special Charges / (Income)	-136	-28	-27	-27	-27	-13	-56	-524	-17	481
Total Other Income / (Expense), net	-560	-418	-373	-279	-376	-448	-477	-413	-407	-400
Interest Expense	490	399	357	285	393	477	487	431	414	408
Other Income / (Expense), net	-70	-19	-16	6.38	17	29	10	18	7.51	8.07
Income Tax Expense	280	220	198	307	314	280	258	324	432	208
Net Income / (Loss) Discontinued Operations	0.00	0.00	13	0.00	-9.65	105	-457	-245	-158	-53
Net Income / (Loss) Attributable to Noncontrolling Interest	314	265	221	233	221	210	174	167	153	158
Basic Earnings per Share	$11.02	$7.62	$6.03	$9.30	$6.46	$5.29	$0.93	$3.52	$4.36	$1.27
Weighted Average Basic Shares Outstanding	84.99M	90.79M	92.99M	105.23M	119.80M	153.18M	170.79M	188.63M	201.64M	211.87M
Diluted Earnings per Share	$10.73	$7.42	$5.85	$8.90	$6.31	$5.27	$0.92	$3.47	$4.29	$1.25
Weighted Average Diluted Shares Outstanding	87.27M	93.18M	95.83M	109.95M	122.62M	153.81M	172.37M	191.35M	204.90M	216.25M
Weighted Average Basic & Diluted Shares Outstanding	80M	87.70M	90.40M	96.30M	109.40M	125.60M	171.40M	188.50M	201.80M	212.40M

This table shows DaVita's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	259	215	223	240	151	247	179	116	68	105
Consolidated Net Income / (Loss)	349	296	300	306	231	309	246	171	127	165
Net Income / (Loss) Continuing Operations	349	296	300	306	231	309	246	171	113	165
Total Pre-Tax Income	414	373	371	372	289	378	295	215	147	207
Total Operating Income	565	535	506	484	390	496	405	312	256	312
Total Gross Profit	1,069	1,112	1,044	992	1,007	1,054	945	815	828	863
Total Revenue	3,295	3,264	3,187	3,071	3,146	3,121	3,000	2,873	2,917	2,949
Operating Revenue	3,295	3,264	3,187	3,071	3,146	3,121	3,000	2,873	2,917	2,949
Total Cost of Revenue	2,225	2,152	2,142	2,079	2,138	2,067	2,056	2,058	2,089	2,086
Operating Cost of Revenue	2,225	2,152	2,142	2,079	2,138	2,067	2,056	2,058	2,089	2,086
Total Operating Expenses	504	577	538	508	617	558	539	503	572	551
Selling, General & Admin Expense	414	394	368	362	401	377	364	332	380	365
Depreciation Expense	174	187	176	187	195	188	184	178	194	194
Other Special Charges / (Income)	-101	0.00	0.00	-35	-28	0.00	0.00	0.00	-	-
Total Other Income / (Expense), net	-152	-161	-135	-112	-93	-118	-110	-97	-109	-105
Interest Expense	139	145	107	99	88	98	111	101	101	100
Other Income / (Expense), net	-13	-17	-27	-13	-4.65	-20	1.37	3.75	-7.80	-4.90
Income Tax Expense	64	78	72	66	58	69	49	44	34	43
Net Income / (Loss) Attributable to Noncontrolling Interest	90	81	77	66	80	63	68	55	59	59
Basic Earnings per Share	$3.17	$2.56	$2.56	$2.73	$1.68	$2.70	$1.96	$1.28	$0.81	$1.16
Weighted Average Basic Shares Outstanding	84.99M	83.72M	86.90M	87.78M	90.79M	91.32M	90.98M	90.50M	92.99M	91.16M
Diluted Earnings per Share	$3.08	$2.50	$2.50	$2.65	$1.64	$2.62	$1.91	$1.25	$0.81	$1.13
Weighted Average Diluted Shares Outstanding	87.27M	85.80M	88.95M	90.55M	93.18M	94.04M	93.42M	92.48M	95.83M	91.16M
Weighted Average Basic & Diluted Shares Outstanding	80M	82M	83.90M	87.70M	87.70M	91.32M	90.98M	90.70M	90.40M	91.16M

This table details how cash moves in and out of DaVita's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	415	126	-216	53	-707	371	141	-218	-582	534
Net Cash From Operating Activities	2,022	2,059	1,565	1,931	1,979	2,072	1,772	1,913	1,972	1,557
Net Cash From Continuing Operating Activities	2,022	2,059	1,565	1,931	1,979	2,072	1,772	1,913	1,972	1,508
Net Income / (Loss) Continuing Operations	1,251	957	782	1,212	995	1,021	333	831	1,033	427
Consolidated Net Income / (Loss)	1,251	957	782	1,212	995	1,021	333	831	1,033	427
Depreciation Expense	724	745	733	681	630	615	591	777	720	638
Non-Cash Adjustments To Reconcile Net Income	135	201	126	119	217	307	475	1,089	-59	321
Changes in Operating Assets and Liabilities, net	-88	155	-76	-80	137	129	373	-784	278	122
Net Cash From Investing Activities	-771	-772	-630	-785	-825	2,995	-1,006	-1,365	-1,202	-882
Net Cash From Continuing Investing Activities	-771	-772	-627	-785	-825	2,995	-1,006	-1,365	-1,202	-882
Purchase of Property, Plant & Equipment	-555	-568	-603	-641	-675	-767	-987	-905	-829	-708
Acquisitions	-251	-303	-89	-201	-204	-110	-202	-809	-591	-114
Purchase of Investments	-24	-47	-131	-35	-154	-101	-14	-242	-1,147	-1,719
Divestitures	26	31	118	61	50	3,877	150	92	106	20
Sale and/or Maturity of Investments	34	115	79	31	158	102	48	499	1,259	1,640
Net Cash From Financing Activities	-817	-1,170	-1,121	-1,083	-1,847	-4,696	-625	-766	-1,352	-139
Net Cash From Continuing Financing Activities	-817	-1,170	-1,121	-1,083	-1,847	-4,696	-625	-766	-1,352	-139
Repayment of Debt	-5,566	-3,091	-2,404	-870	-4,216	-40,606	-59,240	-50,837	-52,116	-53,999
Repurchase of Common Equity	-1,386	-272	-802	-1,539	-1,458	-2,384	-1,162	-803	-1,098	-550
Payment of Dividends	-391	-293	-289	-264	-261	-301	-225	-217	-214	-241
Issuance of Debt	6,624	2,468	2,393	1,615	4,047	38,526	59,935	50,992	51,991	54,542
Issuance of Common Equity	36	83	37	35	43	69	66	99	71	55
Other Financing Activities, net	-134	-65	-56	-60	-0.98	0.00	0.00	-	13	54
Effect of Exchange Rate Changes	-18	8.91	-	-10	-14	-	-	-	-	-2.57

This table details how cash moves in and out of DaVita's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-279	655	72	-34	-80	123	11	72	-123	106
Net Cash From Operating Activities	548	810	799	-135	485	661	450	463	344	711
Net Cash From Continuing Operating Activities	548	810	799	-135	485	661	450	463	344	711
Net Income / (Loss) Continuing Operations	349	296	300	306	231	309	246	171	127	165
Consolidated Net Income / (Loss)	349	296	300	306	231	309	246	171	127	165
Depreciation Expense	174	187	176	187	195	188	184	178	194	194
Non-Cash Adjustments To Reconcile Net Income	-33	81	72	16	70	59	37	34	32	76
Changes in Operating Assets and Liabilities, net	57	247	252	-643	-11	104	-17	80	-9.33	275
Net Cash From Investing Activities	-248	-146	-162	-215	-168	-140	-347	-117	-213	-154
Net Cash From Continuing Investing Activities	-248	-146	-162	-215	-168	-140	-347	-117	-210	-154
Purchase of Property, Plant & Equipment	-171	-139	-125	-121	-159	-137	-124	-148	-194	-144
Acquisitions	-86	-7.22	-53	-106	-19	-8.09	-268	-7.90	-16	-39
Purchase of Investments	-0.36	-20	-0.44	-3.28	-9.63	-0.33	-7.14	-30	-33	-5.38
Divestitures	7.93	5.16	5.74	7.04	5.70	3.71	7.72	13	1.49	1.26
Sale and/or Maturity of Investments	0.68	15	11	7.68	13	1.66	45	55	32	34
Net Cash From Financing Activities	-565	-7.86	-563	319	-403	-395	-97	-276	-231	-445
Net Cash From Continuing Financing Activities	-565	-7.86	-563	319	-403	-395	-97	-276	-231	-445
Repayment of Debt	-82	-2,803	-2,126	-555	-45	-654	-1,512	-881	-847	-716
Repurchase of Common Equity	-365	-408	-362	-251	-272	-	-	0.00	-	-185
Payment of Dividends	-121	-122	-65	-83	-82	-79	-77	-55	-79	-76
Issuance of Debt	0.68	3,348	1,985	1,290	0.01	331	1,525	612	687	523
Issuance of Common Equity	24	3.00	4.76	3.73	20	4.63	2.35	56	22	2.27
Other Financing Activities, net	-22	-26	0.21	-86	-24	2.46	-36	-7.90	-14	5.62
Effect of Exchange Rate Changes	-13	-0.65	-1.33	-3.13	5.85	-3.86	4.62	2.31	-	-4.94

This table presents DaVita's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	17,285	16,894	16,928	17,121	16,989	17,311	19,110	18,975	18,756	18,515
Total Current Assets	3,746	3,138	3,155	3,168	3,149	3,690	8,424	8,771	3,995	4,503
Cash & Equivalents	795	380	244	462	325	1,102	323	508	675	1,499
Restricted Cash	85	85	95	93	177	106	92	11	-	-
Short-Term Investments	51	12	78	22	20	12	2.94	33	307	408
Accounts Receivable	2,530	2,410	2,546	2,385	2,369	2,285	2,328	2,114	1,792	2,160
Inventories, net	135	143	109	107	112	98	107	182	160	186
Prepaid Expenses	123	103	79	73	76	67	112	112	100	-
Current Deferred & Refundable Income Taxes	28	6.39	4.60	26	70	20	69	49	0.00	60
Plant, Property, & Equipment, net	2,941	3,074	3,256	3,480	3,522	3,473	3,394	3,149	2,864	2,789
Total Noncurrent Assets	10,598	10,682	10,517	10,474	10,318	10,148	7,292	7,055	11,897	11,223
Long-Term Investments	370	594	275	288	290	279	260	283	522	167
Goodwill	7,375	7,113	7,077	7,046	6,919	6,788	6,842	6,610	6,015	9,294
Intangible Assets	197	203	183	178	167	136	119	114	74	1,687
Other Noncurrent Operating Assets	2,655	2,773	2,982	2,961	2,943	2,946	72	47	34	74
Total Liabilities & Shareholders' Equity	17,285	16,894	16,928	17,121	16,989	17,311	19,110	18,975	18,756	18,515
Total Liabilities	15,194	14,150	14,703	14,751	14,092	13,812	14,077	13,077	12,933	12,567
Total Current Liabilities	2,973	2,642	2,620	2,399	2,476	2,372	4,891	3,068	2,711	2,399
Short-Term Debt	271	123	231	179	169	131	1,929	178	160	129
Accounts Payable	547	515	480	402	434	404	463	509	457	514
Current Deferred & Payable Income Tax Liabilities	10	29	18	54	7.77	42	0.00	-	1.39	-
Current Employee Benefit Liabilities	800	753	693	660	686	695	659	616	707	742
Other Current Liabilities	1,345	1,223	1,198	1,104	1,180	1,100	596	579	579	1,014
Total Noncurrent Liabilities	12,221	11,508	12,084	12,352	11,616	11,440	9,186	10,010	10,222	10,167
Long-Term Debt	9,176	8,268	8,693	8,729	7,917	7,978	8,173	9,158	8,945	9,001
Noncurrent Deferred & Payable Income Tax Liabilities	665	726	783	831	810	578	563	486	531	727
Other Noncurrent Operating Liabilities	2,379	2,513	2,608	2,792	2,889	2,885	451	365	317	439
Redeemable Noncontrolling Interest	1,695	1,499	1,349	1,435	1,330	1,180	1,125	1,011	973	864
Total Equity & Noncontrolling Interests	396	1,244	876	936	1,567	2,319	3,908	4,886	4,850	5,084
Total Preferred & Common Equity	121	1,056	712	756	1,384	2,133	3,703	4,690	4,648	4,871
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	121	1,056	712	756	1,384	2,133	3,703	4,690	4,648	4,871
Common Stock	286	510	607	540	597	749	995	1,043	1,027	1,119
Retained Earnings	1,535	598	174	354	853	1,432	2,743	3,634	3,710	4,357
Treasury Stock	-1,389	0.00	-	-	-	-	-	-	-	-545
Accumulated Other Comprehensive Income / (Loss)	-311	-52	-69	-139	-66	-47	-35	13	-90	-60
Noncontrolling Interest	275	188	164	181	183	186	205	196	202	213

This table presents DaVita's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	17,285	17,504	17,026	17,431	16,894	16,929	16,959	16,728	16,928	16,962
Total Current Assets	3,746	4,037	3,467	3,684	3,138	3,135	3,002	3,040	3,155	3,202
Cash & Equivalents	795	1,071	416	345	380	449	327	317	244	368
Restricted Cash	85	88	87	86	85	96	95	94	95	95
Short-Term Investments	51	21	21	11	12	12	12	50	78	74
Accounts Receivable	2,530	2,627	2,724	2,991	2,410	2,378	2,365	2,382	2,546	2,482
Inventories, net	135	129	127	146	143	110	110	107	109	107
Prepaid Expenses	123	97	83	105	103	91	90	89	79	66
Current Deferred & Refundable Income Taxes	28	4.52	9.37	0.00	6.39	0.00	2.34	0.00	4.60	11
Plant, Property, & Equipment, net	2,941	2,940	2,982	3,026	3,074	3,097	3,158	3,216	3,256	3,240
Total Noncurrent Assets	10,598	10,527	10,576	10,721	10,682	10,696	10,798	10,472	10,517	10,519
Long-Term Investments	370	464	485	540	594	611	639	286	275	287
Goodwill	7,375	7,228	7,201	7,230	7,113	7,088	7,106	7,090	7,077	7,023
Intangible Assets	197	198	191	201	203	185	192	187	183	180
Other Noncurrent Operating Assets	2,655	2,637	2,698	2,750	2,773	2,812	2,861	2,908	2,982	3,030
Total Liabilities & Shareholders' Equity	17,285	17,504	17,026	17,431	16,894	16,929	16,959	16,728	16,928	16,962
Total Liabilities	15,194	15,284	14,601	14,795	14,150	14,104	14,329	14,309	14,703	14,889
Total Current Liabilities	2,973	2,944	2,995	2,583	2,642	2,538	2,403	2,565	2,620	2,537
Short-Term Debt	271	296	538	128	123	109	101	242	231	214
Accounts Payable	547	488	494	490	515	435	428	448	480	417
Current Deferred & Payable Income Tax Liabilities	10	21	25	83	29	22	32	65	18	10
Current Employee Benefit Liabilities	800	806	645	622	753	770	630	619	693	703
Other Current Liabilities	1,345	1,332	1,293	1,261	1,223	1,201	1,212	1,191	1,198	1,193
Total Noncurrent Liabilities	12,221	12,340	11,606	12,212	11,508	11,566	11,926	11,744	12,084	12,352
Long-Term Debt	9,176	9,260	8,452	9,001	8,268	8,285	8,598	8,418	8,693	8,867
Noncurrent Deferred & Payable Income Tax Liabilities	665	660	694	720	726	754	760	771	783	819
Other Noncurrent Operating Liabilities	2,379	2,420	2,460	2,492	2,513	2,527	2,568	2,555	2,608	2,665
Redeemable Noncontrolling Interest	1,695	1,633	1,575	1,503	1,499	1,445	1,424	1,399	1,349	1,371
Total Equity & Noncontrolling Interests	396	587	850	1,133	1,244	1,379	1,206	1,020	876	702
Total Preferred & Common Equity	121	387	633	926	1,056	1,199	1,017	825	712	533
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	121	387	633	926	1,056	1,199	1,017	825	712	533
Common Stock	286	296	383	428	510	553	556	590	607	609
Retained Earnings	1,535	1,275	1,061	838	598	715	469	290	174	847
Treasury Stock	-1,389	-1,022	-616	-240	0.00	-	-	-	-	-788
Accumulated Other Comprehensive Income / (Loss)	-311	-162	-195	-100	-52	-69	-7.05	-55	-69	-136
Noncontrolling Interest	275	200	217	207	188	180	189	194	164	169

This table displays calculated financial ratios and metrics derived from DaVita's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.56%	4.57%	-0.08%	0.59%	1.42%	-0.14%	0.38%	2.00%	7.15%	-21.02%
EBITDA Growth	17.84%	13.29%	-17.25%	6.09%	2.36%	7.56%	-18.44%	-5.42%	54.67%	-25.97%
EBIT Growth	27.60%	19.67%	-26.64%	5.40%	2.32%	8.90%	-16.09%	-10.15%	77.95%	-37.01%
NOPAT Growth	31.11%	22.40%	-25.78%	11.09%	2.55%	9.49%	-17.48%	-6.47%	87.61%	-33.63%
Net Income Growth	30.70%	22.43%	-35.50%	21.82%	-2.61%	206.66%	-59.90%	-19.60%	141.71%	-50.49%
EPS Growth	44.61%	26.84%	-34.27%	41.05%	19.73%	472.83%	-73.49%	-19.11%	243.20%	-62.46%
Operating Cash Flow Growth	-1.80%	31.60%	-18.97%	-2.43%	-4.50%	16.97%	-7.40%	-2.99%	26.65%	35.36%
Free Cash Flow Firm Growth	-9.33%	65.93%	-14.30%	-3.04%	-15.87%	121.07%	3,488.50%	-99.70%	542.16%	36.34%
Invested Capital Growth	1.71%	-3.75%	0.41%	2.38%	0.61%	-1.96%	4.98%	16.28%	-35.04%	-1.12%
Revenue Q/Q Growth	1.18%	1.92%	-0.23%	-18.97%	31.47%	0.68%	-0.95%	38.48%	-0.53%	-25.68%
EBITDA Q/Q Growth	5.62%	6.30%	-5.48%	0.50%	-3.43%	4.09%	10.54%	-12.28%	13.44%	-11.31%
EBIT Q/Q Growth	9.02%	9.46%	-9.48%	-0.05%	-4.80%	5.46%	17.76%	-16.44%	17.35%	-17.18%
NOPAT Q/Q Growth	10.78%	9.40%	-9.36%	0.87%	-4.98%	4.61%	-4.30%	-7.88%	22.50%	-16.58%
Net Income Q/Q Growth	10.48%	12.19%	-13.58%	1.26%	-6.45%	65.66%	-57.06%	22.47%	17.49%	-33.56%
EPS Q/Q Growth	15.50%	12.59%	-14.60%	3.37%	-3.96%	93.75%	-72.46%	32.44%	23.28%	-45.18%
Operating Cash Flow Q/Q Growth	3.19%	7.38%	-10.63%	2.39%	-9.00%	16.34%	2.57%	-7.08%	0.47%	20.54%
Free Cash Flow Firm Q/Q Growth	5.19%	15.21%	-6.44%	4.31%	-24.24%	55.30%	-85.87%	-98.31%	348.60%	145.30%
Invested Capital Q/Q Growth	1.03%	0.14%	1.22%	1.62%	2.03%	-1.20%	3.43%	-26.95%	-35.15%	-1.17%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	32.91%	31.47%	29.29%	31.38%	30.84%	30.50%	28.14%	28.49%	29.30%	29.98%
EBITDA Margin	21.42%	19.18%	17.71%	21.38%	20.27%	20.09%	18.65%	22.95%	24.76%	17.15%
Operating Margin	16.31%	13.20%	11.53%	15.47%	14.67%	14.43%	13.38%	15.95%	18.22%	10.94%
EBIT Margin	15.77%	13.04%	11.40%	15.52%	14.82%	14.69%	13.47%	16.11%	18.29%	11.01%
Profit (Net Income) Margin	9.76%	7.88%	6.73%	10.43%	8.61%	8.97%	2.92%	7.31%	9.27%	4.11%
Tax Burden Percent	81.73%	81.30%	80.89%	79.80%	75.45%	85.43%	31.76%	59.33%	63.65%	62.09%
Interest Burden Percent	75.74%	74.33%	73.02%	84.19%	77.03%	71.47%	68.26%	76.47%	79.67%	60.13%
Effective Tax Rate	18.27%	18.70%	20.50%	20.20%	23.81%	23.39%	24.65%	23.14%	26.60%	30.14%
Return on Invested Capital (ROIC)	16.83%	12.70%	10.20%	13.94%	12.73%	12.33%	11.42%	15.25%	13.89%	6.07%
ROIC Less NNEP Spread (ROIC-NNEP)	10.91%	8.25%	6.72%	11.03%	8.46%	8.33%	-6.33%	-1.93%	4.45%	0.84%
Return on Net Nonoperating Assets (RNNOA)	34.91%	25.83%	23.81%	32.07%	18.37%	11.61%	-5.33%	-1.08%	3.66%	0.97%
Return on Equity (ROE)	51.74%	38.52%	34.02%	46.01%	31.10%	23.94%	6.09%	14.17%	17.55%	7.04%
Cash Return on Invested Capital (CROIC)	15.14%	16.52%	9.79%	11.58%	12.12%	14.31%	6.56%	0.20%	56.37%	7.20%
Operating Return on Assets (OROA)	11.82%	9.36%	7.77%	10.58%	9.98%	9.19%	8.07%	9.70%	10.93%	6.34%
Return on Assets (ROA)	7.32%	5.66%	4.59%	7.11%	5.80%	5.61%	1.75%	4.40%	5.54%	2.37%
Return on Common Equity (ROCE)	12.60%	13.71%	10.86%	18.68%	17.10%	16.38%	4.68%	11.29%	14.19%	5.83%
Return on Equity Simple (ROE_SIMPLE)	1,032.63%	90.61%	109.73%	160.39%	71.89%	47.87%	8.99%	17.71%	22.23%	8.78%
Net Operating Profit after Tax (NOPAT)	1,708	1,303	1,065	1,434	1,291	1,259	1,150	1,393	1,490	794
NOPAT Margin	13.33%	10.73%	9.17%	12.34%	11.18%	11.05%	10.08%	12.26%	13.37%	7.64%
Net Nonoperating Expense Percent (NNEP)	5.92%	4.45%	3.48%	2.91%	4.27%	4.00%	17.75%	17.19%	9.44%	5.23%
Return On Investment Capital (ROIC_SIMPLE)	17.36%	13.52%	10.86%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	67.09%	68.53%	70.71%	68.62%	69.16%	69.50%	71.86%	71.51%	70.70%	70.02%
SG&A Expenses to Revenue	12.00%	12.14%	11.67%	10.29%	10.80%	9.69%	9.96%	9.36%	9.63%	9.92%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	16.59%	18.27%	17.75%	15.91%	16.17%	16.07%	14.89%	12.66%	11.08%	19.05%
Earnings before Interest and Taxes (EBIT)	2,021	1,584	1,323	1,804	1,711	1,673	1,536	1,830	2,037	1,145
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,745	2,329	2,056	2,484	2,342	2,288	2,127	2,608	2,757	1,783
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	101.25	9.06	9.44	15.34	9.50	4.56	2.31	2.82	2.73	3.02
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.96	0.79	0.58	1.00	1.14	0.85	0.75	1.17	1.14	1.42
Price to Earnings (P/E)	13.10	13.83	12.01	11.85	17.00	12.00	53.59	19.96	14.40	54.53
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	7.64%	7.23%	8.33%	8.44%	5.88%	8.33%	1.87%	5.01%	6.94%	1.83%
Enterprise Value to Invested Capital (EV/IC)	2.19	1.85	1.58	2.04	2.16	1.75	1.87	2.34	2.54	1.76
Enterprise Value to Revenue (EV/Rev)	1.75	1.53	1.42	1.83	1.90	1.55	1.69	2.02	1.93	2.20
Enterprise Value to EBITDA (EV/EBITDA)	8.15	7.97	8.01	8.55	9.37	7.74	9.07	8.80	7.78	12.81
Enterprise Value to EBIT (EV/EBIT)	11.07	11.73	12.45	11.78	12.82	10.59	12.56	12.54	10.53	19.95
Enterprise Value to NOPAT (EV/NOPAT)	13.10	14.25	15.47	14.82	16.99	14.07	16.78	16.47	14.40	28.76
Enterprise Value to Operating Cash Flow (EV/OCF)	11.07	9.02	10.53	11.01	11.08	8.54	10.89	12.00	10.88	14.67
Enterprise Value to Free Cash Flow (EV/FCFF)	14.56	10.96	16.13	17.83	17.85	12.12	29.20	1,246.37	3.55	24.26
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	4.52	3.06	4.01	3.76	2.79	2.32	2.01	1.58	1.56	1.54
Long-Term Debt to Equity	4.39	3.01	3.91	3.68	2.73	2.28	1.62	1.55	1.54	1.51
Financial Leverage	3.20	3.13	3.54	2.91	2.17	1.39	0.84	0.56	0.82	1.15
Leverage Ratio	7.07	6.81	7.41	6.48	5.36	4.27	3.48	3.22	3.17	2.98
Compound Leverage Factor	5.35	5.06	5.41	5.45	4.13	3.05	2.38	2.46	2.52	1.79
Debt to Total Capital	81.87%	75.36%	80.04%	78.98%	73.62%	69.85%	66.75%	61.29%	60.99%	60.55%
Short-Term Debt to Total Capital	2.35%	1.11%	2.08%	1.59%	1.53%	1.13%	12.75%	1.17%	1.07%	0.86%
Long-Term Debt to Total Capital	79.53%	74.26%	77.97%	77.39%	72.09%	68.73%	54.00%	60.12%	59.92%	59.70%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	17.08%	15.15%	13.57%	14.32%	13.78%	11.77%	8.78%	7.93%	7.87%	7.15%
Common Equity to Total Capital	1.05%	9.48%	6.39%	6.70%	12.60%	18.38%	24.47%	30.79%	31.14%	32.30%
Debt to EBITDA	3.44	3.60	4.34	3.59	3.45	3.54	4.75	3.58	3.30	5.12
Net Debt to EBITDA	2.97	3.14	4.00	3.24	3.11	2.89	4.43	3.26	2.76	3.96
Long-Term Debt to EBITDA	3.34	3.55	4.23	3.51	3.38	3.49	3.84	3.51	3.24	5.05
Debt to NOPAT	5.53	6.44	8.38	6.21	6.26	6.44	8.79	6.70	6.11	11.50
Net Debt to NOPAT	4.77	5.62	7.73	5.61	5.63	5.25	8.20	6.10	5.10	8.89
Long-Term Debt to NOPAT	5.37	6.35	8.17	6.09	6.13	6.34	7.11	6.57	6.00	11.34
Altman Z-Score	1.79	1.52	1.27	1.58	1.69	1.61	1.65	2.15	1.90	1.93
Noncontrolling Interest Sharing Ratio	75.65%	64.40%	68.06%	59.39%	45.02%	31.59%	23.21%	20.33%	19.13%	17.28%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.26	1.19	1.20	1.32	1.27	1.56	1.72	2.86	1.47	1.88
Quick Ratio	1.14	1.06	1.09	1.20	1.10	1.43	0.54	0.87	1.02	1.70
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,537	1,695	1,021	1,192	1,229	1,461	661	18	6,047	942
Operating Cash Flow to CapEx	364.04%	362.52%	259.28%	301.01%	293.39%	270.35%	179.47%	211.34%	237.86%	219.94%
Free Cash Flow to Firm to Interest Expense	3.13	4.25	2.86	4.18	3.13	3.06	1.36	0.04	14.60	2.31
Operating Cash Flow to Interest Expense	4.12	5.17	4.38	6.77	5.03	4.34	3.63	4.44	4.76	3.81
Operating Cash Flow Less CapEx to Interest Expense	2.99	3.74	2.69	4.52	3.32	2.74	1.61	2.34	2.76	2.08
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.75	0.72	0.68	0.68	0.67	0.63	0.60	0.60	0.60	0.58
Accounts Receivable Turnover	5.19	4.90	4.71	4.89	4.96	4.94	5.13	5.82	5.64	5.09
Inventory Turnover	61.93	65.97	75.82	72.79	76.24	77.09	56.68	47.49	45.52	45.25
Fixed Asset Turnover	4.26	3.84	3.45	3.32	3.30	3.32	3.49	3.78	3.94	3.95
Accounts Payable Turnover	16.20	16.73	18.62	19.07	19.06	18.25	16.86	16.83	16.23	15.17
Days Sales Outstanding (DSO)	70.34	74.50	77.51	74.67	73.53	73.93	71.09	62.74	64.75	71.75
Days Inventory Outstanding (DIO)	5.89	5.53	4.81	5.01	4.79	4.73	6.44	7.69	8.02	8.07
Days Payable Outstanding (DPO)	22.53	21.81	19.60	19.14	19.15	19.99	21.65	21.69	22.49	24.06
Cash Conversion Cycle (CCC)	53.70	58.22	62.72	60.54	59.17	58.67	55.87	48.74	50.28	55.76
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	10,237	10,065	10,457	10,413	10,171	10,109	10,311	9,822	8,447	13,004
Invested Capital Turnover	1.26	1.18	1.11	1.13	1.14	1.12	1.13	1.24	1.04	0.79
Increase / (Decrease) in Invested Capital	172	-392	43	242	62	-202	489	1,375	-4,557	-147
Enterprise Value (EV)	22,379	18,573	16,472	21,250	21,936	17,707	19,296	22,952	21,449	22,842
Market Capitalization	12,263	9,565	6,728	11,592	13,149	9,731	8,542	13,243	12,673	14,709
Book Value per Share	$1.48	$11.57	$7.91	$7.41	$12.35	$16.45	$22.31	$25.59	$23.55	$23.08
Tangible Book Value per Share	($90.87)	($68.56)	($72.66)	($63.48)	($50.91)	($36.93)	($19.62)	($11.10)	($7.30)	($28.96)
Total Capital	11,538	11,135	11,149	11,279	10,983	11,608	15,135	15,234	14,928	15,079
Total Debt	9,447	8,392	8,924	8,908	8,086	8,108	10,102	9,336	9,105	9,130
Total Long-Term Debt	9,176	8,268	8,693	8,729	7,917	7,978	8,173	9,158	8,945	9,001
Net Debt	8,146	7,322	8,232	8,043	7,274	6,609	9,424	8,501	7,601	7,056
Capital Expenditures (CapEx)	555	568	603	641	675	767	987	905	829	708
Debt-free, Cash-free Net Working Capital (DFCFNWC)	113	143	350	371	319	228	5,044	5,330	462	326
Debt-free Net Working Capital (DFNWC)	1,044	619	767	948	841	1,449	5,462	5,881	1,444	2,233
Net Working Capital (NWC)	773	496	536	769	673	1,318	3,533	5,703	1,284	2,104
Net Nonoperating Expense (NNE)	458	346	283	223	296	238	817	563	457	367
Net Nonoperating Obligations (NNO)	8,146	7,322	8,232	8,043	7,274	6,609	5,278	3,925	2,624	7,056
Total Depreciation and Amortization (D&A)	724	745	733	681	630	615	591	777	720	638
Debt-free, Cash-free Net Working Capital to Revenue	0.88%	1.18%	3.02%	3.19%	2.76%	2.01%	44.23%	46.91%	4.15%	3.14%
Debt-free Net Working Capital to Revenue	8.14%	5.10%	6.61%	8.16%	7.28%	12.72%	47.90%	51.76%	12.96%	21.48%
Net Working Capital to Revenue	6.03%	4.08%	4.61%	6.62%	5.82%	11.57%	30.98%	50.20%	11.53%	20.24%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$11.02	$7.62	$6.03	$9.30	$6.46	$5.29	$159,394,000.93	$3.52	$4.36	$1.27
Adjusted Weighted Average Basic Shares Outstanding	84.99M	90.79M	92.99M	105.23M	119.80M	153.18M	170.79M	188.63M	201.64M	211.87M
Adjusted Diluted Earnings per Share	$10.73	$7.42	$5.85	$8.90	$6.31	$5.27	$0.92	$3.47	$4.29	$1.25
Adjusted Weighted Average Diluted Shares Outstanding	87.27M	93.18M	95.83M	109.95M	122.62M	153.81M	172.36M	191.35M	204.90M	216.25M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$5.29	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	80M	87.70M	90.40M	96.30M	109.40M	125.60M	166.40M	182M	194.60M	206.10M
Normalized Net Operating Profit after Tax (NOPAT)	1,598	1,302	1,043	1,413	1,271	1,345	1,123	1,245	1,509	1,133
Normalized NOPAT Margin	12.47%	10.72%	8.99%	12.16%	11.00%	11.81%	9.85%	10.96%	13.55%	10.90%
Pre Tax Income Margin	11.94%	9.70%	8.32%	13.07%	11.41%	10.50%	9.19%	12.32%	14.57%	6.62%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.12	3.97	3.71	6.32	4.35	3.51	3.15	4.25	4.92	2.80
NOPAT to Interest Expense	3.48	3.27	2.98	5.03	3.28	2.64	2.36	3.24	3.60	1.94
EBIT Less CapEx to Interest Expense	2.99	2.55	2.02	4.07	2.64	1.90	1.13	2.15	2.92	1.07
NOPAT Less CapEx to Interest Expense	2.35	1.84	1.29	2.78	1.57	1.03	0.33	1.13	1.60	0.21
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	31.26%	30.67%	36.94%	21.80%	26.23%	29.49%	67.42%	26.11%	20.71%	56.39%
Augmented Payout Ratio	142.07%	59.11%	139.57%	148.77%	172.86%	262.90%	416.18%	122.78%	126.97%	185.06%

This table displays calculated financial ratios and metrics derived from DaVita's official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.73%	4.56%	6.21%	6.89%	7.85%	5.85%	2.52%	1.96%	-0.92%	0.35%
EBITDA Growth	25.15%	6.08%	10.88%	33.40%	31.19%	32.60%	-2.04%	-3.14%	-21.23%	-21.39%
EBIT Growth	43.40%	8.78%	17.77%	49.40%	55.06%	55.20%	-5.74%	-6.28%	-35.80%	-34.33%
NOPAT Growth	53.45%	4.43%	20.81%	60.68%	58.19%	63.69%	-4.19%	-6.45%	-36.25%	-35.62%
Net Income Growth	51.47%	-4.40%	21.66%	79.28%	82.10%	87.84%	-13.44%	-17.04%	-49.24%	-48.49%
EPS Growth	87.80%	-4.58%	30.89%	112.00%	102.47%	131.86%	-16.96%	-22.36%	-55.25%	-52.12%
Operating Cash Flow Growth	12.87%	22.57%	77.48%	-129.15%	41.16%	-6.95%	139.26%	43.56%	-35.13%	25.32%
Free Cash Flow Firm Growth	-56.55%	-50.09%	-65.63%	-111.30%	358.09%	315.70%	2,162.55%	272.77%	132.67%	56.03%
Invested Capital Growth	1.71%	0.81%	1.46%	4.37%	-3.75%	-2.71%	-3.88%	-2.14%	0.41%	0.81%
Revenue Q/Q Growth	0.95%	2.41%	3.78%	-2.39%	0.78%	4.03%	4.44%	-1.51%	-1.08%	0.75%
EBITDA Q/Q Growth	3.04%	7.72%	-0.56%	13.39%	-12.66%	12.60%	19.63%	11.51%	-11.73%	-16.81%
EBIT Q/Q Growth	6.63%	8.18%	1.64%	22.31%	-19.11%	17.12%	28.94%	26.94%	-19.04%	-28.87%
NOPAT Q/Q Growth	12.66%	3.66%	2.63%	28.04%	-23.33%	19.92%	36.50%	26.05%	-20.66%	-29.81%
Net Income Q/Q Growth	18.08%	-1.33%	-2.04%	32.70%	-25.47%	25.56%	44.36%	34.79%	-23.12%	-42.13%
EPS Q/Q Growth	23.20%	0.00%	-5.66%	61.59%	-37.40%	37.17%	52.80%	54.32%	-28.32%	-50.87%
Operating Cash Flow Q/Q Growth	-32.43%	1.45%	692.46%	-127.79%	-26.61%	46.89%	-2.69%	34.57%	-51.62%	277.70%
Free Cash Flow Firm Q/Q Growth	-10.76%	32.29%	583.16%	-107.62%	2.50%	-8.90%	58.86%	208.78%	-6.98%	395.85%
Invested Capital Q/Q Growth	1.03%	-2.62%	-3.50%	7.13%	0.14%	-1.99%	-0.73%	-1.20%	1.22%	-3.17%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	32.46%	34.06%	32.77%	32.29%	32.02%	33.77%	31.48%	28.35%	28.39%	29.27%
EBITDA Margin	22.05%	21.61%	20.54%	21.44%	18.45%	21.30%	19.68%	17.18%	15.17%	17.00%
Operating Margin	17.16%	16.39%	15.89%	15.76%	12.39%	15.89%	13.51%	10.85%	8.79%	10.57%
EBIT Margin	16.77%	15.88%	15.03%	15.35%	12.25%	15.26%	13.55%	10.98%	8.52%	10.41%
Profit (Net Income) Margin	10.60%	9.06%	9.41%	9.97%	7.33%	9.91%	8.21%	5.94%	4.34%	5.59%
Tax Burden Percent	84.41%	79.20%	80.70%	82.30%	79.76%	81.80%	83.46%	79.52%	85.84%	79.48%
Interest Burden Percent	74.89%	72.08%	77.56%	78.90%	75.03%	79.41%	72.59%	68.05%	59.36%	67.52%
Effective Tax Rate	15.59%	20.80%	19.30%	17.70%	20.24%	18.20%	16.54%	20.48%	23.28%	20.52%
Return on Invested Capital (ROIC)	18.29%	16.29%	15.55%	15.16%	11.70%	15.19%	12.65%	9.64%	7.50%	9.51%
ROIC Less NNEP Spread (ROIC-NNEP)	16.63%	14.60%	14.15%	14.01%	10.66%	13.95%	11.51%	8.67%	6.64%	8.45%
Return on Net Nonoperating Assets (RNNOA)	53.21%	43.83%	43.69%	44.50%	33.38%	44.09%	38.77%	28.86%	23.51%	27.59%
Return on Equity (ROE)	71.50%	60.12%	59.24%	59.66%	45.08%	59.28%	51.41%	38.49%	31.01%	37.09%
Cash Return on Invested Capital (CROIC)	15.14%	14.48%	13.30%	9.49%	16.52%	14.43%	13.83%	12.20%	9.79%	10.61%
Operating Return on Assets (OROA)	12.57%	11.68%	11.08%	11.09%	8.79%	10.73%	9.34%	7.57%	5.81%	7.00%
Return on Assets (ROA)	7.95%	6.67%	6.93%	7.20%	5.26%	6.97%	5.66%	4.10%	2.96%	3.76%
Return on Common Equity (ROCE)	17.41%	18.90%	19.34%	20.67%	16.05%	20.96%	17.41%	13.31%	9.90%	12.93%
Return on Equity Simple (ROE_SIMPLE)	0.00%	292.74%	181.02%	117.96%	0.00%	71.13%	69.62%	90.44%	0.00%	169.80%
Net Operating Profit after Tax (NOPAT)	477	424	409	398	311	406	338	248	197	248
NOPAT Margin	14.49%	12.98%	12.82%	12.97%	9.89%	13.00%	11.27%	8.63%	6.74%	8.40%
Net Nonoperating Expense Percent (NNEP)	1.66%	1.69%	1.40%	1.15%	1.03%	1.24%	1.14%	0.96%	0.86%	1.06%
Return On Investment Capital (ROIC_SIMPLE)	4.85%	-	-	-	3.23%	-	-	-	2.01%	-
Cost of Revenue to Revenue	67.54%	65.94%	67.23%	67.71%	67.98%	66.23%	68.52%	71.65%	71.61%	70.73%
SG&A Expenses to Revenue	12.58%	12.06%	11.54%	11.81%	12.76%	12.07%	12.13%	11.54%	13.02%	12.39%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	15.30%	17.67%	16.88%	16.54%	19.63%	17.88%	17.97%	17.51%	19.61%	18.70%
Earnings before Interest and Taxes (EBIT)	552	518	479	471	385	476	407	315	248	307
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	727	705	655	658	581	665	590	493	443	501
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	101.25	35.57	19.20	13.61	9.06	7.20	8.96	8.88	9.44	14.19
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.96	1.09	0.97	1.02	0.79	0.72	0.78	0.63	0.58	0.65
Price to Earnings (P/E)	13.10	16.62	14.14	15.45	13.83	14.17	19.48	14.27	12.01	11.12
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	7.64%	6.02%	7.07%	6.47%	7.23%	7.06%	5.13%	7.01%	8.33%	9.00%
Enterprise Value to Invested Capital (EV/IC)	2.19	2.32	2.11	2.08	1.85	1.74	1.79	1.63	1.58	1.68
Enterprise Value to Revenue (EV/Rev)	1.75	1.86	1.75	1.82	1.53	1.47	1.56	1.44	1.42	1.49
Enterprise Value to EBITDA (EV/EBITDA)	8.15	9.04	8.57	9.01	7.97	7.98	9.05	8.25	8.01	7.98
Enterprise Value to EBIT (EV/EBIT)	11.07	12.68	12.10	12.91	11.73	12.08	14.37	12.93	12.45	11.87
Enterprise Value to NOPAT (EV/NOPAT)	13.10	15.24	14.39	15.46	14.25	14.68	17.77	16.07	15.47	14.78
Enterprise Value to Operating Cash Flow (EV/OCF)	11.07	11.99	12.11	15.37	9.02	9.12	9.33	9.88	10.53	9.91
Enterprise Value to Free Cash Flow (EV/FCFF)	14.56	16.09	15.96	22.43	10.96	11.88	12.68	13.22	16.13	15.90
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	4.52	4.31	3.71	3.46	3.06	2.97	3.31	3.58	4.01	4.38
Long-Term Debt to Equity	4.39	4.17	3.49	3.41	3.01	2.93	3.27	3.48	3.91	4.28
Financial Leverage	3.20	3.00	3.09	3.18	3.13	3.16	3.37	3.33	3.54	3.26
Leverage Ratio	7.07	6.83	6.72	6.76	6.81	6.92	7.11	7.00	7.41	7.17
Compound Leverage Factor	5.29	4.92	5.21	5.33	5.11	5.49	5.16	4.77	4.40	4.84
Debt to Total Capital	81.87%	81.15%	78.76%	77.59%	75.36%	74.82%	76.79%	78.17%	80.04%	81.42%
Short-Term Debt to Total Capital	2.35%	2.52%	4.71%	1.08%	1.11%	0.97%	0.89%	2.19%	2.08%	1.92%
Long-Term Debt to Total Capital	79.53%	78.64%	74.04%	76.51%	74.26%	73.85%	75.90%	75.98%	77.97%	79.50%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	17.08%	15.56%	15.70%	14.54%	15.15%	14.49%	14.23%	14.38%	13.57%	13.81%
Common Equity to Total Capital	1.05%	3.28%	5.54%	7.87%	9.48%	10.69%	8.98%	7.45%	6.39%	4.78%
Debt to EBITDA	3.44	3.68	3.51	3.66	3.60	3.83	4.29	4.25	4.34	4.18
Net Debt to EBITDA	2.97	3.05	3.12	3.27	3.14	3.30	3.76	3.88	4.00	3.80
Long-Term Debt to EBITDA	3.34	3.56	3.30	3.61	3.55	3.78	4.24	4.13	4.23	4.08
Debt to NOPAT	5.53	6.20	5.90	6.28	6.44	7.05	8.42	8.26	8.38	7.73
Net Debt to NOPAT	4.77	5.13	5.24	5.61	5.62	6.07	7.38	7.55	7.73	7.03
Long-Term Debt to NOPAT	5.37	6.00	5.55	6.19	6.35	6.96	8.32	8.03	8.17	7.55
Altman Z-Score	1.51	1.54	1.45	1.45	1.28	1.27	1.23	1.13	1.06	1.17
Noncontrolling Interest Sharing Ratio	75.65%	68.56%	67.35%	65.35%	64.40%	64.64%	66.14%	65.42%	68.06%	65.14%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.26	1.37	1.16	1.43	1.19	1.24	1.25	1.19	1.20	1.26
Quick Ratio	1.14	1.26	1.06	1.30	1.06	1.12	1.13	1.07	1.09	1.15
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	305	342	259	-54	703	686	752	474	153	165
Operating Cash Flow to CapEx	320.89%	582.83%	640.49%	-111.42%	305.21%	483.28%	361.53%	313.16%	177.14%	493.67%
Free Cash Flow to Firm to Interest Expense	2.20	2.37	2.41	-0.54	7.96	6.99	6.75	4.70	1.52	1.65
Operating Cash Flow to Interest Expense	3.95	5.60	7.43	-1.36	5.50	6.74	4.04	4.59	3.40	7.13
Operating Cash Flow Less CapEx to Interest Expense	2.72	4.64	6.27	-2.57	3.70	5.35	2.92	3.12	1.48	5.68
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.75	0.74	0.74	0.72	0.72	0.70	0.69	0.69	0.68	0.67
Accounts Receivable Turnover	5.19	5.06	4.92	4.59	4.90	4.90	4.73	4.79	4.71	4.73
Inventory Turnover	61.93	71.34	71.09	66.04	65.97	76.41	75.41	76.92	75.82	74.06
Fixed Asset Turnover	4.26	4.20	4.08	3.95	3.84	3.76	3.63	3.51	3.45	3.47
Accounts Payable Turnover	16.20	18.43	18.29	17.79	16.73	19.40	19.97	18.72	18.62	20.33
Days Sales Outstanding (DSO)	70.34	72.11	74.15	79.48	74.50	74.46	77.13	76.16	77.51	77.16
Days Inventory Outstanding (DIO)	5.89	5.12	5.13	5.53	5.53	4.78	4.84	4.75	4.81	4.93
Days Payable Outstanding (DPO)	22.53	19.80	19.96	20.52	21.81	18.81	18.28	19.49	19.60	17.95
Cash Conversion Cycle (CCC)	53.70	57.42	59.32	64.49	58.22	60.42	63.69	61.41	62.72	64.14
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	10,237	10,132	10,405	10,783	10,065	10,051	10,255	10,331	10,457	10,331
Invested Capital Turnover	1.26	1.26	1.21	1.17	1.18	1.17	1.12	1.12	1.11	1.13
Increase / (Decrease) in Invested Capital	172	81	150	452	-392	-280	-414	-226	43	83
Enterprise Value (EV)	22,379	23,499	21,925	22,461	18,573	17,482	18,350	16,838	16,472	17,355
Market Capitalization	12,263	13,754	12,153	12,604	9,565	8,631	9,113	7,332	6,728	7,557
Book Value per Share	$1.48	$4.61	$7.22	$10.55	$11.57	$13.13	$11.22	$9.13	$7.91	$5.83
Tangible Book Value per Share	($90.87)	($83.89)	($77.08)	($74.11)	($68.56)	($66.53)	($69.25)	($71.37)	($72.66)	($73.05)
Total Capital	11,538	11,776	11,414	11,764	11,135	11,218	11,329	11,078	11,149	11,154
Total Debt	9,447	9,557	8,990	9,128	8,392	8,394	8,699	8,660	8,924	9,081
Total Long-Term Debt	9,176	9,260	8,452	9,001	8,268	8,285	8,598	8,418	8,693	8,867
Net Debt	8,146	7,913	7,980	8,147	7,322	7,226	7,625	7,912	8,232	8,258
Capital Expenditures (CapEx)	171	139	125	121	159	137	124	148	194	144
Debt-free, Cash-free Net Working Capital (DFCFNWC)	113	210	486	787	143	149	265	255	350	343
Debt-free Net Working Capital (DFNWC)	1,044	1,389	1,010	1,228	619	706	700	717	767	879
Net Working Capital (NWC)	773	1,093	472	1,101	496	597	599	475	536	665
Net Nonoperating Expense (NNE)	128	128	109	92	80	96	92	77	70	83
Net Nonoperating Obligations (NNO)	8,146	7,913	7,980	8,147	7,322	7,226	7,625	7,912	8,232	8,258
Total Depreciation and Amortization (D&A)	174	187	176	187	195	188	184	178	194	194
Debt-free, Cash-free Net Working Capital to Revenue	0.88%	1.66%	3.88%	6.38%	1.18%	1.25%	2.26%	2.19%	3.02%	2.95%
Debt-free Net Working Capital to Revenue	8.14%	10.97%	8.07%	9.96%	5.10%	5.93%	5.96%	6.15%	6.61%	7.56%
Net Working Capital to Revenue	6.03%	8.63%	3.77%	8.92%	4.08%	5.02%	5.10%	4.07%	4.61%	5.71%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.17	$2.56	$2.56	$2.73	$1.68	$2.70	$1.96	$1.28	$0.81	$1.16
Adjusted Weighted Average Basic Shares Outstanding	84.99M	83.72M	86.90M	87.78M	90.79M	91.32M	90.98M	90.50M	92.99M	91.16M
Adjusted Diluted Earnings per Share	$3.08	$2.50	$2.50	$2.65	$1.64	$2.62	$1.91	$1.25	$0.81	$1.13
Adjusted Weighted Average Diluted Shares Outstanding	87.27M	85.80M	88.95M	90.55M	93.18M	91.32M	90.98M	92.48M	95.83M	93.26M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	80M	82M	83.90M	87.70M	87.70M	91.32M	90.98M	90.70M	90.40M	90.10M
Normalized Net Operating Profit after Tax (NOPAT)	392	424	409	369	289	406	338	248	197	248
Normalized NOPAT Margin	11.91%	12.98%	12.82%	12.03%	9.18%	13.00%	11.27%	8.63%	6.74%	8.40%
Pre Tax Income Margin	12.56%	11.44%	11.66%	12.11%	9.19%	12.12%	9.84%	7.47%	5.06%	7.03%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.98	3.58	4.46	4.74	4.37	4.86	3.65	3.13	2.46	3.08
NOPAT to Interest Expense	3.44	2.93	3.80	4.01	3.53	4.14	3.03	2.46	1.95	2.49
EBIT Less CapEx to Interest Expense	2.75	2.62	3.30	3.52	2.56	3.46	2.53	1.66	0.54	1.63
NOPAT Less CapEx to Interest Expense	2.21	1.97	2.64	2.79	1.72	2.74	1.92	0.99	0.03	1.04
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	31.26%	31.11%	27.03%	29.41%	30.67%	34.07%	40.49%	36.81%	36.94%	31.48%
Augmented Payout Ratio	142.07%	145.31%	104.26%	77.31%	59.11%	34.07%	66.58%	112.62%	139.57%	192.73%

Frequently Asked Questions About DaVita's Financials

When does DaVita's fiscal year end?

According to the most recent income statement we have on file, DaVita's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has DaVita's net income changed over the last 9 years?

DaVita's net income appears to be on an upward trend, with a most recent value of $1.25 billion in 2024, rising from $427.41 million in 2015. The previous period was $956.98 million in 2023. Check out DaVita's forecast to explore projected trends and price targets.

What is DaVita's operating income?

DaVita's total operating income in 2024 was $2.09 billion, based on the following breakdown:

Total Gross Profit: $4.22 billion
Total Operating Expenses: $2.13 billion

How has DaVita revenue changed over the last 9 years?

Over the last 9 years, DaVita's total revenue changed from $10.40 billion in 2015 to $12.82 billion in 2024, a change of 23.3%.

How much debt does DaVita have?

DaVita's total liabilities were at $15.19 billion at the end of 2024, a 7.4% increase from 2023, and a 20.9% increase since 2015.

How much cash does DaVita have?

In the past 9 years, DaVita's cash and equivalents has ranged from $244.09 million in 2022 to $1.50 billion in 2015, and is currently $794.93 million as of their latest financial filing in 2024.

How has DaVita's book value per share changed over the last 9 years?

Over the last 9 years, DaVita's book value per share changed from 23.08 in 2015 to 1.48 in 2024, a change of -93.6%.

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This page (NYSE:DVA) was last updated on 5/28/2025 by MarketBeat.com Staff

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DaVita (DVA) Financials

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