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DaVita (DVA) Financials

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$201.81 +2.88 (+1.45%)
As of 03:07 PM Eastern
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Annual Income Statements for DaVita

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 270 880 664 159 811 774 978 560 692 936 747
Consolidated Net Income / (Loss)		 427 1,033 831 333 1,021 995 1,212 782 957 1,251 1,079
Net Income / (Loss) Continuing Operations		 481 1,191 1,076 790 916 1,004 1,212 768 957 1,251 1,054
Total Pre-Tax Income 		688 1,623 1,400 1,048 1,195 1,318 1,518 966 1,177 1,530 1,347
Total Operating Income		 1,137 2,030 1,813 1,526 1,643 1,695 1,797 1,339 1,603 2,090 2,044
Total Gross Profit		 3,117 3,264 3,237 3,209 3,474 3,562 3,646 3,400 3,820 4,217 4,400
Total Revenue		 10,395 11,139 11,362 11,405 11,388 11,551 11,619 11,610 12,140 12,816 13,643
Operating Revenue		 9,155 11,139 11,362 11,454 11,388 11,551 11,619 11,610 12,140 12,816 13,643
Total Cost of Revenue		 7,278 7,875 8,125 8,196 7,914 7,989 7,972 8,210 8,320 8,599 9,243
Operating Cost of Revenue		 6,856 7,432 7,640 8,196 7,914 7,989 7,972 8,210 8,320 8,599 9,243
Total Operating Expenses		 1,980 1,234 1,438 1,698 1,831 1,867 1,849 2,061 2,218 2,127 2,356
Selling, General & Admin Expense		 1,031 1,073 1,064 1,135 1,103 1,248 1,195 1,355 1,474 1,538 1,674
Depreciation Expense		 464 509 560 591 615 630 681 733 745 724 715
Other Operating Expenses / (Income)		 0.00 -374 -7.03 -7.30 0.00 16 - - -28 -26 -33
Impairment Charge		 4.07 43 331 20 125 - 0.00 0.00 26 0.00 0.00
Other Special Charges / (Income)		 481 -17 -524 -56 -13 -27 -27 -27 0.00 -109 0.00
Total Other Income / (Expense), net		 -400 -407 -413 -477 -448 -376 -279 -373 -426 -560 -697
Interest Expense		 408 414 431 487 477 393 285 357 407 490 594
Other Income / (Expense), net		 8.07 7.51 18 10 29 17 6.38 -16 -19 -70 -103
Income Tax Expense		 208 432 324 258 280 314 307 198 220 280 293
Net Income / (Loss) Discontinued Operations		 -53 -158 -245 -457 105 -9.65 0.00 13 0.00 0.00 25
Net Income / (Loss) Attributable to Noncontrolling Interest		 158 153 167 174 210 221 233 221 265 314 332
Basic Earnings per Share		 $1.27 $4.36 $3.52 $0.93 $5.29 $6.46 $9.30 $6.03 $7.62 $11.02 $10.06
Weighted Average Basic Shares Outstanding		 211.87M 201.64M 188.63M 170.79M 153.18M 119.80M 105.23M 92.99M 90.79M 84.99M 74.23M
Diluted Earnings per Share		 $1.25 $4.29 $3.47 $0.92 $5.27 $6.31 $8.90 $5.85 $7.42 $10.73 $9.84
Weighted Average Diluted Shares Outstanding		 216.25M 204.90M 191.35M 172.37M 153.81M 122.62M 109.95M 95.83M 93.18M 87.27M 75.89M
Weighted Average Basic & Diluted Shares Outstanding		 212.40M 201.80M 188.50M 171.40M 125.60M 109.40M 96.30M 90.40M 87.70M 80M 66.80M

Quarterly Income Statements for DaVita

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 247 151 240 223 215 259 163 199 150 234 198
Consolidated Net Income / (Loss)		 309 231 306 300 296 349 232 275 240 331 275
Net Income / (Loss) Continuing Operations		 309 231 306 300 296 349 232 275 240 306 275
Total Pre-Tax Income 		378 289 372 371 373 414 286 369 309 383 341
Total Operating Income		 496 390 484 506 535 565 439 538 506 561 482
Total Gross Profit		 1,054 1,007 992 1,044 1,112 1,069 984 1,118 1,087 1,210 1,073
Total Revenue		 3,121 3,146 3,071 3,187 3,264 3,295 3,224 3,380 3,420 3,620 3,416
Operating Revenue		 3,121 3,146 3,071 3,187 3,264 3,295 3,224 3,380 3,420 3,620 3,416
Total Cost of Revenue		 2,067 2,138 2,079 2,142 2,152 2,225 2,240 2,262 2,333 2,410 2,342
Operating Cost of Revenue		 2,067 2,138 2,079 2,142 2,152 2,225 2,240 2,262 2,333 2,410 2,342
Total Operating Expenses		 558 617 508 538 577 504 545 580 582 649 591
Selling, General & Admin Expense		 377 401 362 368 394 414 374 413 414 472 422
Depreciation Expense		 188 195 187 176 187 174 176 175 177 187 178
Other Operating Expenses / (Income)		 -7.23 23 -6.68 -5.48 -3.71 - -5.61 -7.36 -10 -9.87 -8.34
Other Special Charges / (Income)		 0.00 -28 -35 0.00 0.00 -101 0.00 0.00 0.00 - 0.00
Total Other Income / (Expense), net		 -118 -93 -112 -135 -161 -152 -153 -169 -197 -178 -141
Interest Expense		 98 88 99 107 145 139 135 146 156 157 145
Other Income / (Expense), net		 -20 -4.65 -13 -27 -17 -13 -18 -23 -41 -21 4.47
Income Tax Expense		 69 58 66 72 78 64 54 94 69 77 66
Net Income / (Loss) Attributable to Noncontrolling Interest		 63 80 66 77 81 90 69 76 90 97 78
Basic Earnings per Share		 $2.70 $1.68 $2.73 $2.56 $2.56 $3.17 $2.05 $2.62 $2.09 $3.30 $2.93
Weighted Average Basic Shares Outstanding		 91.32M 90.79M 87.78M 86.90M 83.72M 84.99M 79.37M 75.94M 72.08M 74.23M 67.39M
Diluted Earnings per Share		 $2.62 $1.64 $2.65 $2.50 $2.50 $3.08 $2.00 $2.58 $2.04 $3.22 $2.87
Weighted Average Diluted Shares Outstanding		 94.04M 93.18M 90.55M 88.95M 85.80M 87.27M 81.28M 77.36M 73.77M 75.89M 68.88M
Weighted Average Basic & Diluted Shares Outstanding		 91.32M 87.70M 87.70M 83.90M 82M 80M 75.50M 71.50M 70.60M 66.80M 64.20M

Annual Cash Flow Statements for DaVita

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 534 -582 -218 141 371 -707 53 -216 126 415 -122
Net Cash From Operating Activities		 1,557 1,972 1,913 1,772 2,072 1,979 1,931 1,565 2,059 2,022 1,887
Net Cash From Continuing Operating Activities		 1,508 1,972 1,913 1,772 2,072 1,979 1,931 1,565 2,059 2,022 1,887
Net Income / (Loss) Continuing Operations		 427 1,033 831 333 1,021 995 1,212 782 957 1,251 1,079
Consolidated Net Income / (Loss)		 427 1,033 831 333 1,021 995 1,212 782 957 1,251 1,079
Depreciation Expense		 638 720 777 591 615 630 681 733 745 724 715
Non-Cash Adjustments To Reconcile Net Income		 321 -59 1,089 475 307 217 119 126 201 135 269
Changes in Operating Assets and Liabilities, net		 122 278 -784 373 129 137 -80 -76 155 -88 -177
Net Cash From Investing Activities		 -882 -1,202 -1,365 -1,006 2,995 -825 -785 -630 -772 -771 -655
Net Cash From Continuing Investing Activities		 -882 -1,202 -1,365 -1,006 2,995 -825 -785 -627 -772 -771 -655
Purchase of Property, Plant & Equipment		 -708 -829 -905 -987 -767 -675 -641 -603 -568 -555 -576
Acquisitions		 -114 -591 -809 -202 -110 -204 -201 -89 -303 -251 -144
Purchase of Investments		 -1,719 -1,147 -242 -14 -101 -154 -35 -131 -47 -24 -22
Divestitures		 20 106 92 150 3,877 50 61 118 31 26 34
Sale and/or Maturity of Investments		 1,640 1,259 499 48 102 158 31 79 115 34 54
Net Cash From Financing Activities		 -139 -1,352 -766 -625 -4,696 -1,847 -1,083 -1,121 -1,170 -817 -1,375
Net Cash From Continuing Financing Activities		 -139 -1,352 -766 -625 -4,696 -1,847 -1,083 -1,121 -1,170 -817 -1,375
Repayment of Debt		 -53,999 -52,116 -50,837 -59,240 -40,606 -4,216 -870 -2,404 -3,091 -5,566 -4,843
Repurchase of Common Equity		 -550 -1,098 -803 -1,162 -2,384 -1,458 -1,539 -802 -272 -1,386 -1,308
Payment of Dividends		 -241 -214 -217 -225 -301 -261 -264 -289 -293 -391 -350
Issuance of Debt		 54,542 51,991 50,992 59,935 38,526 4,047 1,615 2,393 2,468 6,624 5,612
Issuance of Common Equity		 55 71 99 66 69 43 35 37 83 36 34
Other Financing Activities, net		 54 13 - 0.00 0.00 -0.98 -60 -56 -65 -134 -520
Effect of Exchange Rate Changes		 -2.57 - - - - -14 -10 - 8.91 -18 21

Quarterly Cash Flow Statements for DaVita

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 123 -80 -34 72 655 -279 -355 272 -1.55 -38 -31
Net Cash From Operating Activities		 661 485 -135 799 810 548 180 324 842 541 321
Net Cash From Continuing Operating Activities		 661 485 -135 799 810 548 180 324 842 541 321
Net Income / (Loss) Continuing Operations		 309 231 306 300 296 349 232 275 240 331 275
Consolidated Net Income / (Loss)		 309 231 306 300 296 349 232 275 240 331 275
Depreciation Expense		 188 195 187 176 187 174 176 175 177 187 178
Non-Cash Adjustments To Reconcile Net Income		 59 70 16 72 81 -33 57 60 92 60 35
Changes in Operating Assets and Liabilities, net		 104 -11 -643 252 247 57 -286 -186 332 -37 -167
Net Cash From Investing Activities		 -140 -168 -215 -162 -146 -248 -162 -67 -263 -163 -139
Net Cash From Continuing Investing Activities		 -140 -168 -215 -162 -146 -248 -162 -67 -263 -163 -139
Purchase of Property, Plant & Equipment		 -137 -159 -121 -125 -139 -171 -143 -121 -166 -145 -102
Acquisitions		 -8.09 -19 -106 -53 -7.22 -86 -10 -2.50 -108 -24 -36
Purchase of Investments		 -0.33 -9.63 -3.28 -0.44 -20 -0.36 -29 -1.11 11 -3.24 -9.95
Divestitures		 3.71 5.70 7.04 5.74 5.16 7.93 11 12 9.94 1.84 3.72
Sale and/or Maturity of Investments		 1.66 13 7.68 11 15 0.68 10 46 -9.59 7.41 5.38
Net Cash From Financing Activities		 -395 -403 319 -563 -7.86 -565 -383 4.45 -582 -415 -213
Net Cash From Continuing Financing Activities		 -395 -403 319 -563 -7.86 -565 -383 4.45 -582 -415 -213
Repayment of Debt		 -654 -45 -555 -2,126 -2,803 -82 -352 -3,046 -509 -936 -920
Repurchase of Common Equity		 - -272 -251 -362 -408 -365 -510 -284 -240 -274 -196
Payment of Dividends		 -79 -82 -83 -65 -122 -121 -98 -58 -93 -101 -104
Issuance of Debt		 331 0.01 1,290 1,985 3,348 0.68 633 3,557 482 940 1,263
Issuance of Common Equity		 4.63 20 7.87 4.76 3.00 24 7.11 4.55 10 12 6.44
Other Financing Activities, net		 2.46 -24 -91 0.21 -26 -22 -62 -169 -233 -56 -263
Effect of Exchange Rate Changes		 -3.86 5.85 - -1.33 -0.65 -13 9.42 11 1.61 -0.75 0.26

Annual Balance Sheets for DaVita

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 18,515 18,756 18,975 19,110 17,311 16,989 17,121 16,928 16,894 17,285 17,480
Total Current Assets		 4,503 3,995 8,771 8,424 3,690 3,149 3,168 3,155 3,138 3,746 4,058
Cash & Equivalents		 1,499 675 508 323 1,102 325 462 244 380 795 676
Restricted Cash		 - - 11 92 106 177 93 95 85 85 81
Short-Term Investments		 408 307 33 2.94 12 20 22 78 12 51 24
Accounts Receivable		 2,160 1,792 2,114 2,328 2,285 2,369 2,385 2,546 2,410 2,530 2,909
Inventories, net		 186 160 182 107 98 112 107 109 143 135 161
Prepaid Expenses		 - 100 112 112 67 76 73 79 103 123 156
Current Deferred & Refundable Income Taxes		 60 0.00 49 69 20 70 26 4.60 6.39 28 50
Plant, Property, & Equipment, net		 2,789 2,864 3,149 3,394 3,473 3,522 3,480 3,256 3,074 2,941 2,813
Total Noncurrent Assets		 11,223 11,897 7,055 7,292 10,148 10,318 10,474 10,517 10,682 10,598 10,609
Long-Term Investments		 167 522 283 260 279 290 288 275 594 370 198
Goodwill		 9,294 6,015 6,610 6,842 6,788 6,919 7,046 7,077 7,113 7,375 7,545
Intangible Assets		 1,687 74 114 119 136 167 178 183 203 197 222
Other Noncurrent Operating Assets		 74 34 47 72 2,946 2,943 2,961 2,982 2,773 2,655 2,644
Total Liabilities & Shareholders' Equity		 18,515 18,756 18,975 19,110 17,311 16,989 17,121 16,928 16,894 17,285 17,480
Total Liabilities		 12,567 12,933 13,077 14,077 13,812 14,092 14,751 14,703 14,150 15,194 16,322
Total Current Liabilities		 2,399 2,711 3,068 4,891 2,372 2,476 2,399 2,620 2,642 2,973 3,142
Short-Term Debt		 129 160 178 1,929 131 169 179 231 123 271 109
Accounts Payable		 514 457 509 463 404 434 402 480 515 547 696
Current Deferred & Payable Income Tax Liabilities		 - 1.39 - 0.00 42 7.77 54 18 29 10 24
Current Employee Benefit Liabilities		 742 707 616 659 695 686 660 693 753 800 793
Other Current Liabilities		 1,014 579 579 596 1,100 1,180 1,104 1,198 1,223 1,345 1,518
Total Noncurrent Liabilities		 10,167 10,222 10,010 9,186 11,440 11,616 12,352 12,084 11,508 12,221 13,180
Long-Term Debt		 9,001 8,945 9,158 8,173 7,978 7,917 8,729 8,693 8,268 9,176 10,164
Noncurrent Deferred & Payable Income Tax Liabilities		 727 531 486 563 578 810 831 783 726 665 757
Other Noncurrent Operating Liabilities		 439 317 365 451 2,885 2,889 2,792 2,608 2,513 2,379 2,259
Redeemable Noncontrolling Interest		 864 973 1,011 1,125 1,180 1,330 1,435 1,349 1,499 1,695 1,532
Total Equity & Noncontrolling Interests		 5,084 4,850 4,886 3,908 2,319 1,567 936 876 1,244 396 -374
Total Preferred & Common Equity		 4,871 4,648 4,690 3,703 2,133 1,384 756 712 1,056 121 -651
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 4,871 4,648 4,690 3,703 2,133 1,384 756 712 1,056 121 -651
Common Stock		 1,119 1,027 1,043 995 749 597 540 607 510 286 0.07
Retained Earnings		 4,357 3,710 3,634 2,743 1,432 853 354 174 598 1,535 -328
Treasury Stock		 -545 - - - - - - - 0.00 -1,389 -200
Accumulated Other Comprehensive Income / (Loss)		 -60 -90 13 -35 -47 -66 -139 -69 -52 -311 -123
Noncontrolling Interest		 213 202 196 205 186 183 181 164 188 275 277

Quarterly Balance Sheets for DaVita

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 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 16,959 16,929 16,894 17,431 17,026 17,504 17,285 17,119 17,493 17,556 17,499
Total Current Assets		 3,002 3,135 3,138 3,684 3,467 4,037 3,746 3,636 4,088 4,112 4,063
Cash & Equivalents		 327 449 380 345 416 1,071 795 439 708 706 644
Restricted Cash		 95 96 85 86 87 88 85 86 89 89 82
Short-Term Investments		 12 12 12 11 21 21 51 73 31 31 22
Accounts Receivable		 2,365 2,378 2,410 2,991 2,724 2,627 2,530 2,744 2,918 2,855 2,977
Inventories, net		 110 110 143 146 127 129 135 151 146 139 142
Prepaid Expenses		 90 91 103 105 83 97 123 130 110 161 160
Current Deferred & Refundable Income Taxes		 2.34 0.00 6.39 0.00 9.37 4.52 28 14 85 131 36
Plant, Property, & Equipment, net		 3,158 3,097 3,074 3,026 2,982 2,940 2,941 2,901 2,854 2,853 2,755
Total Noncurrent Assets		 10,798 10,696 10,682 10,721 10,576 10,527 10,598 10,582 10,551 10,591 10,682
Long-Term Investments		 639 611 594 540 485 464 370 361 342 300 207
Goodwill		 7,106 7,088 7,113 7,230 7,201 7,228 7,375 7,416 7,466 7,544 7,582
Intangible Assets		 192 185 203 201 191 198 197 205 212 220 229
Other Noncurrent Operating Assets		 2,861 2,812 2,773 2,750 2,698 2,637 2,655 2,600 2,531 2,528 2,664
Total Liabilities & Shareholders' Equity		 16,959 16,929 16,894 17,431 17,026 17,504 17,285 17,119 17,493 17,556 17,499
Total Liabilities		 14,329 14,104 14,150 14,795 14,601 15,284 15,194 15,459 15,940 16,215 16,451
Total Current Liabilities		 2,403 2,538 2,642 2,583 2,995 2,944 2,973 2,907 2,934 3,017 2,867
Short-Term Debt		 101 109 123 128 538 296 271 179 182 63 113
Accounts Payable		 428 435 515 490 494 488 547 596 594 656 691
Current Deferred & Payable Income Tax Liabilities		 32 22 29 83 25 21 10 37 20 26 37
Current Employee Benefit Liabilities		 630 770 753 622 645 806 800 677 686 852 708
Other Current Liabilities		 1,212 1,201 1,223 1,261 1,293 1,332 1,345 1,419 1,451 1,420 1,318
Total Noncurrent Liabilities		 11,926 11,566 11,508 12,212 11,606 12,340 12,221 12,552 13,006 13,198 13,584
Long-Term Debt		 8,598 8,285 8,268 9,001 8,452 9,260 9,176 9,560 10,079 10,184 10,514
Noncurrent Deferred & Payable Income Tax Liabilities		 760 754 726 720 694 660 665 665 646 742 819
Other Noncurrent Operating Liabilities		 2,568 2,527 2,513 2,492 2,460 2,420 2,379 2,328 2,281 2,272 2,251
Redeemable Noncontrolling Interest		 1,424 1,445 1,499 1,503 1,575 1,633 1,695 1,667 1,661 1,645 1,525
Total Equity & Noncontrolling Interests		 1,206 1,379 1,244 1,133 850 587 396 -6.55 -108 -304 -476
Total Preferred & Common Equity		 1,017 1,199 1,056 926 633 387 121 -267 -370 -572 -755
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,017 1,199 1,056 926 633 387 121 -267 -370 -572 -755
Common Stock		 556 553 510 428 383 296 286 300 357 402 0.07
Retained Earnings		 469 715 598 838 1,061 1,275 1,535 1,698 1,897 2,047 -179
Treasury Stock		 - - 0.00 -240 -616 -1,022 -1,389 -2,037 -2,486 -2,905 -489
Accumulated Other Comprehensive Income / (Loss)		 -7.05 -69 -52 -100 -195 -162 -311 -227 -138 -116 -87
Noncontrolling Interest		 189 180 188 207 217 200 275 261 262 268 279

Annual Metrics And Ratios for DaVita

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -21.02% 7.15% 2.00% 0.38% -0.14% 1.42% 0.59% -0.08% 4.57% 5.56% 6.46%
EBITDA Growth		 -25.97% 54.67% -5.42% -18.44% 7.56% 2.36% 6.09% -17.25% 13.29% 17.84% -3.22%
EBIT Growth		 -37.01% 77.95% -10.15% -16.09% 8.90% 2.32% 5.40% -26.64% 19.67% 27.60% -3.95%
NOPAT Growth		 -33.63% 87.61% -6.47% -17.48% 9.49% 2.55% 11.09% -25.78% 22.40% 31.11% -6.42%
Net Income Growth		 -50.49% 141.71% -19.60% -59.90% 206.66% -2.61% 21.82% -35.50% 22.43% 30.70% -13.75%
EPS Growth		 -62.46% 243.20% -19.11% -73.49% 472.83% 19.73% 41.05% -34.27% 26.84% 44.61% -8.29%
Operating Cash Flow Growth		 35.36% 26.65% -2.99% -7.40% 16.97% -4.50% -2.43% -18.97% 31.60% -1.80% -6.70%
Free Cash Flow Firm Growth		 36.34% 542.16% -99.70% 3,488.50% 121.07% -15.87% -3.04% -14.30% 65.93% -9.33% -9.91%
Invested Capital Growth		 -1.12% -35.04% 16.28% 4.98% -1.96% 0.61% 2.38% 0.41% -3.75% 1.71% 2.10%
Revenue Q/Q Growth		 -25.68% -0.53% 38.48% -0.95% 0.68% 31.47% -18.97% -0.23% 1.92% 1.18% 2.44%
EBITDA Q/Q Growth		 -11.31% 13.44% -12.28% 10.54% 4.09% -3.43% 0.50% -5.48% 6.30% 5.62% 0.01%
EBIT Q/Q Growth		 -17.18% 17.35% -16.44% 17.76% 5.46% -4.80% -0.05% -9.48% 9.46% 9.02% -0.64%
NOPAT Q/Q Growth		 -16.58% 22.50% -7.88% -4.30% 4.61% -4.98% 0.87% -9.36% 9.40% 10.78% -1.94%
Net Income Q/Q Growth		 -33.56% 17.49% 22.47% -57.06% 65.66% -6.45% 1.26% -13.58% 12.19% 10.48% -1.66%
EPS Q/Q Growth		 -45.18% 23.28% 32.44% -72.46% 93.75% -3.96% 3.37% -14.60% 12.59% 15.50% 1.44%
Operating Cash Flow Q/Q Growth		 20.54% 0.47% -7.08% 2.57% 16.34% -9.00% 2.39% -10.63% 7.38% 3.19% -0.36%
Free Cash Flow Firm Q/Q Growth		 145.30% 348.60% -98.31% -85.87% 55.30% -24.24% 4.31% -6.44% 15.21% 5.19% 6.43%
Invested Capital Q/Q Growth		 -1.17% -35.15% -26.95% 3.43% -1.20% 2.03% 1.62% 1.22% 0.14% 1.03% -0.10%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 29.98% 29.30% 28.49% 28.14% 30.50% 30.84% 31.38% 29.29% 31.47% 32.91% 32.25%
EBITDA Margin		 17.15% 24.76% 22.95% 18.65% 20.09% 20.27% 21.38% 17.71% 19.18% 21.42% 19.47%
Operating Margin		 10.94% 18.22% 15.95% 13.38% 14.43% 14.67% 15.47% 11.53% 13.20% 16.31% 14.98%
EBIT Margin		 11.01% 18.29% 16.11% 13.47% 14.69% 14.82% 15.52% 11.40% 13.04% 15.77% 14.23%
Profit (Net Income) Margin		 4.11% 9.27% 7.31% 2.92% 8.97% 8.61% 10.43% 6.73% 7.88% 9.76% 7.91%
Tax Burden Percent		 62.09% 63.65% 59.33% 31.76% 85.43% 75.45% 79.80% 80.89% 81.30% 81.73% 80.09%
Interest Burden Percent		 60.13% 79.67% 76.47% 68.26% 71.47% 77.03% 84.19% 73.02% 74.33% 75.74% 69.39%
Effective Tax Rate		 30.14% 26.60% 23.14% 24.65% 23.39% 23.81% 20.20% 20.50% 18.70% 18.27% 21.76%
Return on Invested Capital (ROIC)		 6.07% 13.89% 15.25% 11.42% 12.33% 12.73% 13.94% 10.20% 12.70% 16.83% 15.46%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.84% 4.45% -1.93% -6.33% 8.33% 8.46% 11.03% 6.72% 8.25% 10.91% 9.49%
Return on Net Nonoperating Assets (RNNOA)		 0.97% 3.66% -1.08% -5.33% 11.61% 18.37% 32.07% 23.81% 25.83% 34.91% 50.93%
Return on Equity (ROE)		 7.04% 17.55% 14.17% 6.09% 23.94% 31.10% 46.01% 34.02% 38.52% 51.74% 66.39%
Cash Return on Invested Capital (CROIC)		 7.20% 56.37% 0.20% 6.56% 14.31% 12.12% 11.58% 9.79% 16.52% 15.14% 13.38%
Operating Return on Assets (OROA)		 6.34% 10.93% 9.70% 8.07% 9.19% 9.98% 10.58% 7.77% 9.36% 11.82% 11.17%
Return on Assets (ROA)		 2.37% 5.54% 4.40% 1.75% 5.61% 5.80% 7.11% 4.59% 5.66% 7.32% 6.21%
Return on Common Equity (ROCE)		 5.83% 14.19% 11.29% 4.68% 16.38% 17.10% 18.68% 10.86% 13.71% 12.60% -10.83%
Return on Equity Simple (ROE_SIMPLE)		 8.78% 22.23% 17.71% 8.99% 47.87% 71.89% 160.39% 109.73% 90.61% 1,032.63% 0.00%
Net Operating Profit after Tax (NOPAT)		 794 1,490 1,393 1,150 1,259 1,291 1,434 1,065 1,303 1,708 1,599
NOPAT Margin		 7.64% 13.37% 12.26% 10.08% 11.05% 11.18% 12.34% 9.17% 10.73% 13.33% 11.72%
Net Nonoperating Expense Percent (NNEP)		 5.23% 9.44% 17.19% 17.75% 4.00% 4.27% 2.91% 3.48% 4.45% 5.92% 5.97%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 10.86% 13.52% 17.36% 16.15%
Cost of Revenue to Revenue		 70.02% 70.70% 71.51% 71.86% 69.50% 69.16% 68.62% 70.71% 68.53% 67.09% 67.75%
SG&A Expenses to Revenue		 9.92% 9.63% 9.36% 9.96% 9.69% 10.80% 10.29% 11.67% 12.14% 12.00% 12.27%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 19.05% 11.08% 12.66% 14.89% 16.07% 16.17% 15.91% 17.75% 18.27% 16.59% 17.27%
Earnings before Interest and Taxes (EBIT)		 1,145 2,037 1,830 1,536 1,673 1,711 1,804 1,323 1,584 2,021 1,941
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,783 2,757 2,608 2,127 2,288 2,342 2,484 2,056 2,329 2,745 2,656
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.02 2.73 2.82 2.31 4.56 9.50 15.34 9.44 9.06 101.25 0.00
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 0.00
Price to Revenue (P/Rev)		 1.42 1.14 1.17 0.75 0.85 1.14 1.00 0.58 0.79 0.96 0.59
Price to Earnings (P/E)		 54.53 14.40 19.96 53.59 12.00 17.00 11.85 12.01 13.83 13.10 10.74
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 1.83% 6.94% 5.01% 1.87% 8.33% 5.88% 8.44% 8.33% 7.23% 7.64% 9.31%
Enterprise Value to Invested Capital (EV/IC)		 1.76 2.54 2.34 1.87 1.75 2.16 2.04 1.58 1.85 2.19 1.83
Enterprise Value to Revenue (EV/Rev)		 2.20 1.93 2.02 1.69 1.55 1.90 1.83 1.42 1.53 1.75 1.40
Enterprise Value to EBITDA (EV/EBITDA)		 12.81 7.78 8.80 9.07 7.74 9.37 8.55 8.01 7.97 8.15 7.20
Enterprise Value to EBIT (EV/EBIT)		 19.95 10.53 12.54 12.56 10.59 12.82 11.78 12.45 11.73 11.07 9.85
Enterprise Value to NOPAT (EV/NOPAT)		 28.76 14.40 16.47 16.78 14.07 16.99 14.82 15.47 14.25 13.10 11.96
Enterprise Value to Operating Cash Flow (EV/OCF)		 14.67 10.88 12.00 10.89 8.54 11.08 11.01 10.53 9.02 11.07 10.14
Enterprise Value to Free Cash Flow (EV/FCFF)		 24.26 3.55 1,246.37 29.20 12.12 17.85 17.83 16.13 10.96 14.56 13.81
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.54 1.56 1.58 2.01 2.32 2.79 3.76 4.01 3.06 4.52 8.87
Long-Term Debt to Equity		 1.51 1.54 1.55 1.62 2.28 2.73 3.68 3.91 3.01 4.39 8.77
Financial Leverage		 1.15 0.82 0.56 0.84 1.39 2.17 2.91 3.54 3.13 3.20 5.37
Leverage Ratio		 2.98 3.17 3.22 3.48 4.27 5.36 6.48 7.41 6.81 7.07 10.70
Compound Leverage Factor		 1.79 2.52 2.46 2.38 3.05 4.13 5.45 5.41 5.06 5.35 7.42
Debt to Total Capital		 60.55% 60.99% 61.29% 66.75% 69.85% 73.62% 78.98% 80.04% 75.36% 81.87% 89.87%
Short-Term Debt to Total Capital		 0.86% 1.07% 1.17% 12.75% 1.13% 1.53% 1.59% 2.08% 1.11% 2.35% 0.96%
Long-Term Debt to Total Capital		 59.70% 59.92% 60.12% 54.00% 68.73% 72.09% 77.39% 77.97% 74.26% 79.53% 88.91%
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% 0.00%
Noncontrolling Interests to Total Capital		 7.15% 7.87% 7.93% 8.78% 11.77% 13.78% 14.32% 13.57% 15.15% 17.08% 15.83%
Common Equity to Total Capital		 32.30% 31.14% 30.79% 24.47% 18.38% 12.60% 6.70% 6.39% 9.48% 1.05% -5.70%
Debt to EBITDA		 5.12 3.30 3.58 4.75 3.54 3.45 3.59 4.34 3.60 3.44 3.87
Net Debt to EBITDA		 3.96 2.76 3.26 4.43 2.89 3.11 3.24 4.00 3.14 2.97 3.50
Long-Term Debt to EBITDA		 5.05 3.24 3.51 3.84 3.49 3.38 3.51 4.23 3.55 3.34 3.83
Debt to NOPAT		 11.50 6.11 6.70 8.79 6.44 6.26 6.21 8.38 6.44 5.53 6.43
Net Debt to NOPAT		 8.89 5.10 6.10 8.20 5.25 5.63 5.61 7.73 5.62 4.77 5.81
Long-Term Debt to NOPAT		 11.34 6.00 6.57 7.11 6.34 6.13 6.09 8.17 6.35 5.37 6.36
Altman Z-Score		 1.93 1.90 2.15 1.65 1.61 1.69 1.58 1.27 1.52 1.79 1.48
Noncontrolling Interest Sharing Ratio		 17.28% 19.13% 20.33% 23.21% 31.59% 45.02% 59.39% 68.06% 64.40% 75.65% 116.31%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.88 1.47 2.86 1.72 1.56 1.27 1.32 1.20 1.19 1.26 1.29
Quick Ratio		 1.70 1.02 0.87 0.54 1.43 1.10 1.20 1.09 1.06 1.14 1.15
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 942 6,047 18 661 1,461 1,229 1,192 1,021 1,695 1,537 1,384
Operating Cash Flow to CapEx		 219.94% 237.86% 211.34% 179.47% 270.35% 293.39% 301.01% 259.28% 362.52% 364.04% 327.59%
Free Cash Flow to Firm to Interest Expense		 2.31 14.60 0.04 1.36 3.06 3.13 4.18 2.86 4.25 3.13 2.33
Operating Cash Flow to Interest Expense		 3.81 4.76 4.44 3.63 4.34 5.03 6.77 4.38 5.17 4.12 3.18
Operating Cash Flow Less CapEx to Interest Expense		 2.08 2.76 2.34 1.61 2.74 3.32 4.52 2.69 3.74 2.99 2.21
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.58 0.60 0.60 0.60 0.63 0.67 0.68 0.68 0.72 0.75 0.78
Accounts Receivable Turnover		 5.09 5.64 5.82 5.13 4.94 4.96 4.89 4.71 4.90 5.19 5.02
Inventory Turnover		 45.25 45.52 47.49 56.68 77.09 76.24 72.79 75.82 65.97 61.93 62.63
Fixed Asset Turnover		 3.95 3.94 3.78 3.49 3.32 3.30 3.32 3.45 3.84 4.26 4.74
Accounts Payable Turnover		 15.17 16.23 16.83 16.86 18.25 19.06 19.07 18.62 16.73 16.20 14.87
Days Sales Outstanding (DSO)		 71.75 64.75 62.74 71.09 73.93 73.53 74.67 77.51 74.50 70.34 72.76
Days Inventory Outstanding (DIO)		 8.07 8.02 7.69 6.44 4.73 4.79 5.01 4.81 5.53 5.89 5.83
Days Payable Outstanding (DPO)		 24.06 22.49 21.69 21.65 19.99 19.15 19.14 19.60 21.81 22.53 24.55
Cash Conversion Cycle (CCC)		 55.76 50.28 48.74 55.87 58.67 59.17 60.54 62.72 58.22 53.70 54.04
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 13,004 8,447 9,822 10,311 10,109 10,171 10,413 10,457 10,065 10,237 10,451
Invested Capital Turnover		 0.79 1.04 1.24 1.13 1.12 1.14 1.13 1.11 1.18 1.26 1.32
Increase / (Decrease) in Invested Capital		 -147 -4,557 1,375 489 -202 62 242 43 -392 172 214
Enterprise Value (EV)		 22,842 21,449 22,952 19,296 17,707 21,936 21,250 16,472 18,573 22,379 19,123
Market Capitalization		 14,709 12,673 13,243 8,542 9,731 13,149 11,592 6,728 9,565 12,263 8,021
Book Value per Share		 $23.08 $23.55 $25.59 $22.31 $16.45 $12.35 $7.41 $7.91 $11.57 $1.48 ($9.22)
Tangible Book Value per Share		 ($28.96) ($7.30) ($11.10) ($19.62) ($36.93) ($50.91) ($63.48) ($72.66) ($68.56) ($90.87) ($119.24)
Total Capital		 15,079 14,928 15,234 15,135 11,608 10,983 11,279 11,149 11,135 11,538 11,432
Total Debt		 9,130 9,105 9,336 10,102 8,108 8,086 8,908 8,924 8,392 9,447 10,273
Total Long-Term Debt		 9,001 8,945 9,158 8,173 7,978 7,917 8,729 8,693 8,268 9,176 10,164
Net Debt		 7,056 7,601 8,501 9,424 6,609 7,274 8,043 8,232 7,322 8,146 9,293
Capital Expenditures (CapEx)		 708 829 905 987 767 675 641 603 568 555 576
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 326 462 5,330 5,044 228 319 371 350 143 113 244
Debt-free Net Working Capital (DFNWC)		 2,233 1,444 5,881 5,462 1,449 841 948 767 619 1,044 1,026
Net Working Capital (NWC)		 2,104 1,284 5,703 3,533 1,318 673 769 536 496 773 916
Net Nonoperating Expense (NNE)		 367 457 563 817 238 296 223 283 346 458 520
Net Nonoperating Obligations (NNO)		 7,056 2,624 3,925 5,278 6,609 7,274 8,043 8,232 7,322 8,146 9,293
Total Depreciation and Amortization (D&A)		 638 720 777 591 615 630 681 733 745 724 715
Debt-free, Cash-free Net Working Capital to Revenue		 3.14% 4.15% 46.91% 44.23% 2.01% 2.76% 3.19% 3.02% 1.18% 0.88% 1.78%
Debt-free Net Working Capital to Revenue		 21.48% 12.96% 51.76% 47.90% 12.72% 7.28% 8.16% 6.61% 5.10% 8.14% 7.52%
Net Working Capital to Revenue		 20.24% 11.53% 50.20% 30.98% 11.57% 5.82% 6.62% 4.61% 4.08% 6.03% 6.72%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.27 $4.36 $3.52 $159,394,000.93 $5.29 $6.46 $9.30 $6.03 $7.62 $11.02 $10.06
Adjusted Weighted Average Basic Shares Outstanding		 211.87M 201.64M 188.63M 170.79M 153.18M 119.80M 105.23M 92.99M 90.79M 84.99M 74.23M
Adjusted Diluted Earnings per Share		 $1.25 $4.29 $3.47 $0.92 $5.27 $6.31 $8.90 $5.85 $7.42 $10.73 $9.84
Adjusted Weighted Average Diluted Shares Outstanding		 216.25M 204.90M 191.35M 172.36M 153.81M 122.62M 109.95M 95.83M 93.18M 87.27M 75.89M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $5.29 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 206.10M 194.60M 182M 166.40M 125.60M 109.40M 96.30M 90.40M 87.70M 80M 66.80M
Normalized Net Operating Profit after Tax (NOPAT)		 1,133 1,509 1,245 1,123 1,345 1,271 1,413 1,043 1,302 1,598 1,599
Normalized NOPAT Margin		 10.90% 13.55% 10.96% 9.85% 11.81% 11.00% 12.16% 8.99% 10.72% 12.47% 11.72%
Pre Tax Income Margin		 6.62% 14.57% 12.32% 9.19% 10.50% 11.41% 13.07% 8.32% 9.70% 11.94% 9.87%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 2.80 4.92 4.25 3.15 3.51 4.35 6.32 3.71 3.97 4.12 3.27
NOPAT to Interest Expense		 1.94 3.60 3.24 2.36 2.64 3.28 5.03 2.98 3.27 3.48 2.69
EBIT Less CapEx to Interest Expense		 1.07 2.92 2.15 1.13 1.90 2.64 4.07 2.02 2.55 2.99 2.30
NOPAT Less CapEx to Interest Expense		 0.21 1.60 1.13 0.33 1.03 1.57 2.78 1.29 1.84 2.35 1.72
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 56.39% 20.71% 26.11% 67.42% 29.49% 26.23% 21.80% 36.94% 30.67% 31.26% 32.47%
Augmented Payout Ratio		 185.06% 126.97% 122.78% 416.18% 262.90% 172.86% 148.77% 139.57% 59.11% 142.07% 153.76%

Quarterly Metrics And Ratios for DaVita

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 66,800,000.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 66,800,000.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 2.96
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 5.85% 7.85% 6.89% 6.21% 4.56% 4.73% 4.98% 6.05% 4.80% 9.87% 5.96%
EBITDA Growth		 32.60% 31.19% 33.40% 10.88% 6.08% 25.15% -9.18% 5.36% -8.95% 0.03% 11.10%
EBIT Growth		 55.20% 55.06% 49.40% 17.77% 8.78% 43.40% -10.57% 7.53% -10.34% -2.25% 15.42%
NOPAT Growth		 63.69% 58.19% 60.68% 20.81% 4.43% 53.45% -10.60% -1.82% -7.11% -6.00% 9.11%
Net Income Growth		 87.84% 82.10% 79.28% 21.66% -4.40% 51.47% -24.11% -8.18% -18.77% -5.22% 18.44%
EPS Growth		 131.86% 102.47% 112.00% 30.89% -4.58% 87.80% -24.53% 3.20% -18.40% 4.55% 43.50%
Operating Cash Flow Growth		 -6.95% 41.16% -129.15% 77.48% 22.57% 12.87% 233.50% -59.41% 3.84% -1.26% 78.23%
Free Cash Flow Firm Growth		 315.70% 358.09% -111.30% -65.63% -50.09% -56.55% 1,405.92% -37.45% -81.36% -23.33% -84.40%
Invested Capital Growth		 -2.71% -3.75% 4.37% 1.46% 0.81% 1.71% -3.18% 2.30% 3.25% 2.10% 2.68%
Revenue Q/Q Growth		 4.03% 0.78% -2.39% 3.78% 2.41% 0.95% -2.16% 4.84% 1.20% 5.83% -5.64%
EBITDA Q/Q Growth		 12.60% -12.66% 13.39% -0.56% 7.72% 3.04% -17.72% 15.36% -6.92% 13.20% -8.61%
EBIT Q/Q Growth		 17.12% -19.11% 22.31% 1.64% 8.18% 6.63% -23.72% 22.21% -9.80% 16.26% -9.94%
NOPAT Q/Q Growth		 19.92% -23.33% 28.04% 2.63% 3.66% 12.66% -25.41% 12.71% -1.93% 14.01% -13.42%
Net Income Q/Q Growth		 25.56% -25.47% 32.70% -2.04% -1.33% 18.08% -33.51% 18.52% -12.71% 37.79% -16.92%
EPS Q/Q Growth		 37.17% -37.40% 61.59% -5.66% 0.00% 23.20% -35.06% 29.00% -20.93% 57.84% -10.87%
Operating Cash Flow Q/Q Growth		 46.89% -26.61% -127.79% 692.46% 1.45% -32.43% -67.13% 80.12% 159.54% -35.74% -40.67%
Free Cash Flow Firm Q/Q Growth		 -8.90% 2.50% -107.62% 583.16% 32.29% -10.76% 128.94% -76.86% -60.57% 267.07% -53.43%
Invested Capital Q/Q Growth		 -1.99% 0.14% 7.13% -3.50% -2.62% 1.03% 1.98% 1.96% -1.71% -0.10% 2.56%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 33.77% 32.02% 32.29% 32.77% 34.06% 32.46% 30.52% 33.08% 31.80% 33.43% 31.42%
EBITDA Margin		 21.30% 18.45% 21.44% 20.54% 21.61% 22.05% 18.55% 20.41% 18.77% 20.08% 19.45%
Operating Margin		 15.89% 12.39% 15.76% 15.89% 16.39% 17.16% 13.62% 15.91% 14.79% 15.50% 14.11%
EBIT Margin		 15.26% 12.25% 15.35% 15.03% 15.88% 16.77% 13.07% 15.24% 13.58% 14.92% 14.24%
Profit (Net Income) Margin		 9.91% 7.33% 9.97% 9.41% 9.06% 10.60% 7.20% 8.14% 7.02% 9.15% 8.05%
Tax Burden Percent		 81.80% 79.76% 82.30% 80.70% 79.20% 84.41% 81.10% 74.60% 77.80% 86.49% 80.60%
Interest Burden Percent		 79.41% 75.03% 78.90% 77.56% 72.08% 74.89% 67.95% 71.64% 66.48% 70.88% 70.16%
Effective Tax Rate		 18.20% 20.24% 17.70% 19.30% 20.80% 15.59% 18.90% 25.40% 22.20% 20.05% 19.40%
Return on Invested Capital (ROIC)		 15.19% 11.70% 15.16% 15.55% 16.29% 18.29% 13.50% 14.85% 14.88% 16.35% 14.87%
ROIC Less NNEP Spread (ROIC-NNEP)		 13.95% 10.66% 14.01% 14.15% 14.60% 16.63% 12.03% 13.37% 13.08% 15.00% 13.64%
Return on Net Nonoperating Assets (RNNOA)		 44.09% 33.38% 44.50% 43.69% 43.83% 53.21% 47.41% 57.38% 62.58% 80.47% 92.95%
Return on Equity (ROE)		 59.28% 45.08% 59.66% 59.24% 60.12% 71.50% 60.91% 72.23% 77.46% 96.82% 107.82%
Cash Return on Invested Capital (CROIC)		 14.43% 16.52% 9.49% 13.30% 14.48% 15.14% 18.94% 13.49% 12.63% 13.38% 12.79%
Operating Return on Assets (OROA)		 10.73% 8.79% 11.09% 11.08% 11.68% 12.57% 9.81% 11.62% 10.32% 11.71% 11.38%
Return on Assets (ROA)		 6.97% 5.26% 7.20% 6.93% 6.67% 7.95% 5.41% 6.21% 5.34% 7.18% 6.44%
Return on Common Equity (ROCE)		 20.96% 16.05% 20.67% 19.34% 18.90% 17.41% 9.34% 4.78% -4.03% -15.79% -40.71%
Return on Equity Simple (ROE_SIMPLE)		 71.13% 0.00% 117.96% 181.02% 292.74% 0.00% -440.65% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 406 311 398 409 424 477 356 401 393 449 388
NOPAT Margin		 13.00% 9.89% 12.97% 12.82% 12.98% 14.49% 11.04% 11.87% 11.50% 12.39% 11.37%
Net Nonoperating Expense Percent (NNEP)		 1.24% 1.03% 1.15% 1.40% 1.69% 1.66% 1.46% 1.48% 1.80% 1.35% 1.23%
Return On Investment Capital (ROIC_SIMPLE)		 - 3.23% - - - 4.85% 3.66% 3.95% 3.96% 4.53% 3.83%
Cost of Revenue to Revenue		 66.23% 67.98% 67.71% 67.23% 65.94% 67.54% 69.48% 66.92% 68.20% 66.57% 68.58%
SG&A Expenses to Revenue		 12.07% 12.76% 11.81% 11.54% 12.06% 12.58% 11.61% 12.21% 12.12% 13.05% 12.35%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 17.88% 19.63% 16.54% 16.88% 17.67% 15.30% 16.90% 17.17% 17.01% 17.93% 17.31%
Earnings before Interest and Taxes (EBIT)		 476 385 471 479 518 552 421 515 465 540 486
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 665 581 658 655 705 727 598 690 642 727 664
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 7.20 9.06 13.61 19.20 35.57 101.25 0.00 0.00 0.00 0.00 0.00
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 0.00
Price to Revenue (P/Rev)		 0.72 0.79 1.02 0.97 1.09 0.96 0.94 0.82 0.71 0.59 0.74
Price to Earnings (P/E)		 14.17 13.83 15.45 14.14 16.62 13.10 14.24 12.86 12.31 10.74 13.14
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 7.06% 7.23% 6.47% 7.07% 6.02% 7.64% 7.02% 7.78% 8.13% 9.31% 7.61%
Enterprise Value to Invested Capital (EV/IC)		 1.74 1.85 2.08 2.11 2.32 2.19 2.20 2.05 1.96 1.83 2.03
Enterprise Value to Revenue (EV/Rev)		 1.47 1.53 1.82 1.75 1.86 1.75 1.77 1.65 1.54 1.40 1.57
Enterprise Value to EBITDA (EV/EBITDA)		 7.98 7.97 9.01 8.57 9.04 8.15 8.55 8.01 7.73 7.20 7.99
Enterprise Value to EBIT (EV/EBIT)		 12.08 11.73 12.91 12.10 12.68 11.07 11.64 10.85 10.51 9.85 10.84
Enterprise Value to NOPAT (EV/NOPAT)		 14.68 14.25 15.46 14.39 15.24 13.10 13.77 13.12 12.59 11.96 13.32
Enterprise Value to Operating Cash Flow (EV/OCF)		 9.12 9.02 15.37 12.11 11.99 11.07 9.82 11.69 10.85 10.14 10.72
Enterprise Value to Free Cash Flow (EV/FCFF)		 11.88 10.96 22.43 15.96 16.09 14.56 11.42 15.33 15.79 13.81 16.07
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.97 3.06 3.46 3.71 4.31 4.52 5.87 6.61 7.64 8.87 10.14
Long-Term Debt to Equity		 2.93 3.01 3.41 3.49 4.17 4.39 5.76 6.49 7.60 8.77 10.03
Financial Leverage		 3.16 3.13 3.18 3.09 3.00 3.20 3.94 4.29 4.78 5.37 6.81
Leverage Ratio		 6.92 6.81 6.76 6.72 6.83 7.07 8.04 8.68 9.85 10.70 12.78
Compound Leverage Factor		 5.49 5.11 5.33 5.21 4.92 5.29 5.46 6.22 6.55 7.58 8.97
Debt to Total Capital		 74.82% 75.36% 77.59% 78.76% 81.15% 81.87% 85.44% 86.85% 88.43% 89.87% 91.02%
Short-Term Debt to Total Capital		 0.97% 1.11% 1.08% 4.71% 2.52% 2.35% 1.57% 1.54% 0.54% 0.96% 0.97%
Long-Term Debt to Total Capital		 73.85% 74.26% 76.51% 74.04% 78.64% 79.53% 83.87% 85.31% 87.89% 88.91% 90.06%
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% 0.00%
Noncontrolling Interests to Total Capital		 14.49% 15.15% 14.54% 15.70% 15.56% 17.08% 16.91% 16.27% 16.51% 15.83% 15.45%
Common Equity to Total Capital		 10.69% 9.48% 7.87% 5.54% 3.28% 1.05% -2.34% -3.13% -4.94% -5.70% -6.47%
Debt to EBITDA		 3.83 3.60 3.66 3.51 3.68 3.44 3.63 3.77 3.86 3.87 3.90
Net Debt to EBITDA		 3.30 3.14 3.27 3.12 3.05 2.97 3.27 3.34 3.43 3.50 3.55
Long-Term Debt to EBITDA		 3.78 3.55 3.61 3.30 3.56 3.34 3.56 3.71 3.83 3.83 3.86
Debt to NOPAT		 7.05 6.44 6.28 5.90 6.20 5.53 5.84 6.18 6.28 6.43 6.51
Net Debt to NOPAT		 6.07 5.62 5.61 5.24 5.13 4.77 5.27 5.48 5.59 5.81 5.92
Long-Term Debt to NOPAT		 6.96 6.35 6.19 5.55 6.00 5.37 5.74 6.07 6.25 6.36 6.44
Altman Z-Score		 1.27 1.28 1.45 1.45 1.54 1.51 1.50 1.49 1.44 1.21 1.32
Noncontrolling Interest Sharing Ratio		 64.64% 64.40% 65.35% 67.35% 68.56% 75.65% 84.66% 93.38% 105.20% 116.31% 137.76%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.24 1.19 1.43 1.16 1.37 1.26 1.25 1.39 1.36 1.29 1.42
Quick Ratio		 1.12 1.06 1.30 1.06 1.26 1.14 1.12 1.25 1.19 1.15 1.27
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 686 703 -54 259 342 305 699 162 64 234 109
Operating Cash Flow to CapEx		 483.28% 305.21% -111.42% 640.49% 582.83% 320.89% 125.65% 267.76% 506.69% 371.81% 314.48%
Free Cash Flow to Firm to Interest Expense		 6.99 7.96 -0.54 2.41 2.37 2.20 5.18 1.11 0.41 1.49 0.75
Operating Cash Flow to Interest Expense		 6.74 5.50 -1.36 7.43 5.60 3.95 1.33 2.22 5.40 3.44 2.21
Operating Cash Flow Less CapEx to Interest Expense		 5.35 3.70 -2.57 6.27 4.64 2.72 0.27 1.39 4.34 2.51 1.51
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.70 0.72 0.72 0.74 0.74 0.75 0.75 0.76 0.76 0.78 0.80
Accounts Receivable Turnover		 4.90 4.90 4.59 4.92 5.06 5.19 4.52 4.67 4.86 5.02 4.84
Inventory Turnover		 76.41 65.97 66.04 71.09 71.34 61.93 59.12 65.03 67.58 62.63 63.98
Fixed Asset Turnover		 3.76 3.84 3.95 4.08 4.20 4.26 4.38 4.51 4.60 4.74 4.89
Accounts Payable Turnover		 19.40 16.73 17.79 18.29 18.43 16.20 16.13 16.32 15.84 14.87 14.52
Days Sales Outstanding (DSO)		 74.46 74.50 79.48 74.15 72.11 70.34 80.71 78.24 75.12 72.76 75.47
Days Inventory Outstanding (DIO)		 4.78 5.53 5.53 5.13 5.12 5.89 6.17 5.61 5.40 5.83 5.70
Days Payable Outstanding (DPO)		 18.81 21.81 20.52 19.96 19.80 22.53 22.63 22.36 23.04 24.55 25.14
Cash Conversion Cycle (CCC)		 60.42 58.22 64.49 59.32 57.42 53.70 64.25 61.49 57.48 54.04 56.03
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 10,051 10,065 10,783 10,405 10,132 10,237 10,439 10,644 10,462 10,451 10,719
Invested Capital Turnover		 1.17 1.18 1.17 1.21 1.26 1.26 1.22 1.25 1.29 1.32 1.31
Increase / (Decrease) in Invested Capital		 -280 -392 452 150 81 172 -343 239 330 214 279
Enterprise Value (EV)		 17,482 18,573 22,461 21,925 23,499 22,379 22,944 21,769 20,534 19,123 21,741
Market Capitalization		 8,631 9,565 12,604 12,153 13,754 12,263 12,238 10,755 9,500 8,021 10,266
Book Value per Share		 $13.13 $11.57 $10.55 $7.22 $4.61 $1.48 ($3.34) ($4.90) ($8.00) ($9.22) ($11.31)
Tangible Book Value per Share		 ($66.53) ($68.56) ($74.11) ($77.08) ($83.89) ($90.87) ($98.60) ($106.58) ($116.58) ($119.24) ($128.25)
Total Capital		 11,218 11,135 11,764 11,414 11,776 11,538 11,398 11,814 11,588 11,432 11,674
Total Debt		 8,394 8,392 9,128 8,990 9,557 9,447 9,738 10,261 10,247 10,273 10,626
Total Long-Term Debt		 8,285 8,268 9,001 8,452 9,260 9,176 9,560 10,079 10,184 10,164 10,514
Net Debt		 7,226 7,322 8,147 7,980 7,913 8,146 8,779 9,091 9,121 9,293 9,671
Capital Expenditures (CapEx)		 137 159 121 125 139 171 143 121 166 145 102
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 149 143 787 486 210 113 310 509 332 244 559
Debt-free Net Working Capital (DFNWC)		 706 619 1,228 1,010 1,389 1,044 908 1,337 1,158 1,026 1,308
Net Working Capital (NWC)		 597 496 1,101 472 1,093 773 729 1,154 1,095 916 1,195
Net Nonoperating Expense (NNE)		 96 80 92 109 128 128 124 126 153 118 113
Net Nonoperating Obligations (NNO)		 7,226 7,322 8,147 7,980 7,913 8,146 8,779 9,091 9,121 9,293 9,671
Total Depreciation and Amortization (D&A)		 188 195 187 176 187 174 176 175 177 187 178
Debt-free, Cash-free Net Working Capital to Revenue		 1.25% 1.18% 6.38% 3.88% 1.66% 0.88% 2.39% 3.87% 2.49% 1.78% 4.04%
Debt-free Net Working Capital to Revenue		 5.93% 5.10% 9.96% 8.07% 10.97% 8.14% 7.00% 10.16% 8.69% 7.52% 9.45%
Net Working Capital to Revenue		 5.02% 4.08% 8.92% 3.77% 8.63% 6.03% 5.62% 8.77% 8.22% 6.72% 8.64%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.70 $1.68 $2.73 $2.56 $2.56 $3.17 $2.05 $2.62 $2.09 $3.30 $2.93
Adjusted Weighted Average Basic Shares Outstanding		 91.32M 90.79M 87.78M 86.90M 83.72M 84.99M 79.37M 75.94M 72.08M 74.23M 67.39M
Adjusted Diluted Earnings per Share		 $2.62 $1.64 $2.65 $2.50 $2.50 $3.08 $2.00 $2.58 $2.04 $3.22 $2.87
Adjusted Weighted Average Diluted Shares Outstanding		 91.32M 93.18M 90.55M 88.95M 85.80M 87.27M 81.28M 77.36M 73.77M 75.89M 68.88M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 91.32M 87.70M 87.70M 83.90M 82M 80M 75.50M 71.50M 70.60M 66.80M 64.20M
Normalized Net Operating Profit after Tax (NOPAT)		 406 289 369 409 424 392 356 401 393 449 388
Normalized NOPAT Margin		 13.00% 9.18% 12.03% 12.82% 12.98% 11.91% 11.04% 11.87% 11.50% 12.39% 11.37%
Pre Tax Income Margin		 12.12% 9.19% 12.11% 11.66% 11.44% 12.56% 8.88% 10.92% 9.03% 10.57% 9.99%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 4.86 4.37 4.74 4.46 3.58 3.98 3.12 3.53 2.98 3.43 3.35
NOPAT to Interest Expense		 4.14 3.53 4.01 3.80 2.93 3.44 2.64 2.75 2.53 2.85 2.68
EBIT Less CapEx to Interest Expense		 3.46 2.56 3.52 3.30 2.62 2.75 2.06 2.70 1.92 2.51 2.65
NOPAT Less CapEx to Interest Expense		 2.74 1.72 2.79 2.64 1.97 2.21 1.58 1.92 1.46 1.93 1.97
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 34.07% 30.67% 29.41% 27.03% 31.11% 31.26% 34.57% 34.67% 33.74% 32.47% 31.69%
Augmented Payout Ratio		 34.07% 59.11% 77.31% 104.26% 145.31% 142.07% 174.34% 170.65% 161.30% 153.76% 120.37%

Financials Breakdown Chart

Key Financial Trends

DaVita Inc. (DVA) provides a multi-year view across cash flow, income, and balance sheets. Below are the top trends observed in the latest four years, focusing on the most recent year-to-date data (through Q4 2025) and comparing with prior periods to highlight growth, cash flow health, and balance-sheet leverage.

  • Revenue growth: 2025 Q4 operating revenue reached about $3.62B, up from roughly $3.29B in 2024 Q4, signaling ongoing top-line growth.
  • Gross margin improvement: Q4 2025 gross profit was about $1.21B on $3.62B revenue (roughly 33% margin), modestly higher than the prior-year period.
  • Robust cash flow from operations: 2025 Q4 net cash from continuing operating activities was about $540.7M, with Q3 2025 at about $841.5M, indicating strong cash generation across these quarters.
  • Profitability gains in continuing operations: Net income from continuing operations rose to about $306.0M in 2025 Q4, up from about $259.3M in 2024 Q4, showing improving bottom-line performance at the core.
  • Capex discipline: Property, plant & equipment purchases were around $145M in 2025 Q4 (and in the mid-$100M range in recent quarters), indicating ongoing but moderate capex that supports operations without overwhelming cash flow.
  • Working capital volatility: Quarterly changes in operating assets & liabilities fluctuated (e.g., +$332.17M in 2025 Q3 vs -$37.25M in 2025 Q4), suggesting near-term cash flow can be sensitive to working-capital timing.
  • Depreciation as a steady non-cash cost: Depreciation expense hovered around $174–$187M per quarter, with 2025 Q4 at $186.7M, indicating a consistent non-cash charge component.
  • Cash flow timing pressure in the quarter: Net change in cash & equivalents was negative in 2025 Q4 (about -$37.7M), implying a cash outflow for the quarter despite positive operating cash flow.
  • Financing activity headwinds: Net cash from financing activities was negative in recent quarters (e.g., around -$414.5M in 2025 Q4), reflecting debt activity and shareholder return programs that reduce cash.
  • Balance-sheet leverage and equity concerns: The company remains highly leveraged, with long-term debt in the billions and total liabilities around $16.2B against a small or negative net equity position in recent periods, signaling notable balance-sheet risk.
05/12/26 03:07 PM ETAI Generated. May Contain Errors.

DaVita Financials - Frequently Asked Questions

According to the most recent income statement we have on file, DaVita's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

DaVita's net income appears to be on an upward trend, with a most recent value of $1.08 billion in 2025, rising from $427.41 million in 2015. The previous period was $1.25 billion in 2024. Find out what analysts predict for DaVita in the coming months.

DaVita's total operating income in 2025 was $2.04 billion, based on the following breakdown:
  • Total Gross Profit: $4.40 billion
  • Total Operating Expenses: $2.36 billion

Over the last 10 years, DaVita's total revenue changed from $10.40 billion in 2015 to $13.64 billion in 2025, a change of 31.2%.

DaVita's total liabilities were at $16.32 billion at the end of 2025, a 7.4% increase from 2024, and a 29.9% increase since 2015.

In the past 10 years, DaVita's cash and equivalents has ranged from $244.09 million in 2022 to $1.50 billion in 2015, and is currently $676.44 million as of their latest financial filing in 2025.

Over the last 10 years, DaVita's book value per share changed from 23.08 in 2015 to -9.22 in 2025, a change of -139.9%.


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Financial statements for NYSE:DVA last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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