DVA Healthcare

DaVita Inc.

$182.17-1.92%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Healthcare
Industry: Medical Care Facilities
Country: United States
Market cap: 11.6B USD
Enterprise value: 22.0B USD
Full-time employees: 78,000

Overall health

Strength: more profitable than most peersmore profitable than peers
Drawback: higher risk than most peers: less short-term liquidity (current ratio 1.47 vs a peer median of 2.59)higher risk: less liquidity (current ratio 1.47 vs peers 2.59)
About average: growth

Ranks #443 of 1,157 healthcare companies (top 39%)

See how it ranks against its peers

Worth knowing

Negative shareholders' equity. Liabilities exceed assets on the balance sheet.
DaVita's liabilities exceed its assets on the balance sheet. Large share buybacks can cause this in healthy companies, but so can accumulated losses; either way, debt-based ratios need care.
Valuation signals disagree. Cheaper than 94% of peers on earnings, but only 50% on free cash flow.
Relative to its earnings, DaVita looks cheaper than 94% of peers; relative to its free cash flow, cheaper than only 50%. The valuation score blends the two, so look at which measure fits this business best.
Profits growing faster than sales. Since 2022: revenue +18%, operating profit +53%.
Since 2022, DaVita's revenue grew 18% while operating profit grew 53%: each extra dollar of sales is adding more profit.
Share count shrinking. Shares outstanding down 29% from December 2022 to July 2026.
DaVita had 29% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.

StockQuotient Score

57/ 100

Oct 5 57 → Nov 4 57

Valuation

Is the price right?

92/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Stronger than most peers on:

▲ Earnings yield
▲ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield10.1%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 5.86Sector median: 0.0148 · MAD: 0.0148

EBITDA yield13.0%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 2.24Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield13.9%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingOutlier capped at sector 5th/95th percentile20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield-6.6%

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

50/100

Moderate▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Score 49 → 50

Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth14.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.17Sector median: 0.0976 · MAD: 0.2991

3-year revenue growth6.1%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.03Sector median: 0.0584 · MAD: 0.0840

Revenue growth6.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.04Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

81/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROIC
▲ ROA
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin15.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.67Sector median: 0.0706 · MAD: 0.1217

Return on assets6.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.93Sector median: 0.0166 · MAD: 0.0537

Return on invested capital18.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.32Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin32.4%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity88.5%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Debt / equity
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.80

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.50Sector median: 0.6250 · MAD: 0.3380

Current ratio1.47×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.81Sector median: 2.5860 · MAD: 1.3850

Debt / equityUnavailable

Shareholders' equity is negative, so debt/equity counts as among the highest in its peer group33% base weight · Z-score -9.77Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about DaVita

Is DaVita getting weaker?: Its latest SEC filing (Aug 4, 2026) showed no major changes. Its overall score is unchanged at 57/100 since Oct 28, 2026.
How is DaVita valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 92/100 against 1,393 healthcare peers. Earnings yield 10.1% vs a peer median of 1.5% (stronger than 94% of peers).Earnings yield 10.1% vs peers 1.5% (stronger than 94% of peers).
Is DaVita growing?: At about the same pace as its peers. Growth scores 50/100 against 1,393 healthcare peers.
How profitable is DaVita?: More profitable than most of its peers. Profitability scores 81/100 against 1,393 healthcare peers. Return on invested capital 18.0% vs a peer median of 4.7% (stronger than 84% of peers).Return on invested capital 18.0% vs peers 4.7% (stronger than 84% of peers).
How risky is DaVita?: Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 1.47× vs a peer median of 2.59× (weaker than 74% of peers).Current ratio 1.47× vs peers 2.59× (weaker than 74% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 4, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	13.8B USD	14.0B USD	+1.3%
Net income (12 months)	1.1B USD	1.2B USD	+5.9%
Operating margin	15.1%	15.2%	+0.1 pts
Free cash flow (12 months)	1.5B USD	1.6B USD	+7.8%
Debt	10.6B USD	10.8B USD	+1.5%
Cash	644.2M USD	669.0M USD	+3.8%
Shares outstanding	64.2M	63.8M	−0.6%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Medical Care Facilities · 27 companies

Valuations in Medical Care Facilities are within their usual range since Jun 2017.

39% of months since Jun 2017 were valued lower than now.
28% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is −61% vs the whole market, against a usual −56%.

Jun 2017Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	15.5%	11.5%	13.2%	16.3%	15.0%	▼ 1.3 pts
Net margin	8.4%	4.8%	5.7%	7.3%	5.5%	▼ 1.8 pts
Return on assets (ROA)	5.7%	3.3%	4.1%	5.4%	4.3%	▼ 1.1 pts
Return on equity (ROE)	129.5%	78.7%	65.5%	—	—	—
Free cash flow margin	11.1%	8.3%	12.3%	11.4%	9.6%	▼ 1.8 pts
Current ratio	1.32×	1.20×	1.19×	1.26×	1.29×	▲ 2.5%
Quick ratio	1.28×	1.16×	1.13×	1.21×	1.24×	▲ 2.1%
Debt to equity	11.79×	12.53×	7.95×	—	—	—
Interest coverage	6.73×	3.95×	4.29×	4.80×	3.79×	▼ 21%

DVA price history

Price history is added with the daily price update and will appear after the next one.

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Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

Drawback: higher risk than most peers: less short-term liquidity (current ratio 1.47 vs a peer median of 2.59)higher risk: less liquidity (current ratio 1.47 vs peers 2.59)

About average: growth

Ranks #443 of 1,157 healthcare companies (top 39%)

See how it ranks against its peers

Worth knowing

Negative shareholders' equity. Liabilities exceed assets on the balance sheet.

DaVita's liabilities exceed its assets on the balance sheet. Large share buybacks can cause this in healthy companies, but so can accumulated losses; either way, debt-based ratios need care.

Valuation signals disagree. Cheaper than 94% of peers on earnings, but only 50% on free cash flow.

Relative to its earnings, DaVita looks cheaper than 94% of peers; relative to its free cash flow, cheaper than only 50%. The valuation score blends the two, so look at which measure fits this business best.

Profits growing faster than sales. Since 2022: revenue +18%, operating profit +53%.

Since 2022, DaVita's revenue grew 18% while operating profit grew 53%: each extra dollar of sales is adding more profit.

Share count shrinking. Shares outstanding down 29% from December 2022 to July 2026.

DaVita had 29% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.

Questions investors ask about DaVita

Is DaVita getting weaker?

Its latest SEC filing (Aug 4, 2026) showed no major changes. Its overall score is unchanged at 57/100 since Oct 28, 2026.

How is DaVita valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 92/100 against 1,393 healthcare peers. Earnings yield 10.1% vs a peer median of 1.5% (stronger than 94% of peers).Earnings yield 10.1% vs peers 1.5% (stronger than 94% of peers).

Is DaVita growing?

At about the same pace as its peers. Growth scores 50/100 against 1,393 healthcare peers.

How profitable is DaVita?

More profitable than most of its peers. Profitability scores 81/100 against 1,393 healthcare peers. Return on invested capital 18.0% vs a peer median of 4.7% (stronger than 84% of peers).Return on invested capital 18.0% vs peers 4.7% (stronger than 84% of peers).

How risky is DaVita?

Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 1.47× vs a peer median of 2.59× (weaker than 74% of peers).Current ratio 1.47× vs peers 2.59× (weaker than 74% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

13.8B USD

14.0B USD

+1.3%

Net income (12 months)

1.1B USD

1.2B USD

+5.9%

Operating margin

15.1%

15.2%

+0.1 pts

Free cash flow (12 months)

1.5B USD

1.6B USD

+7.8%

Debt

10.6B USD

10.8B USD

+1.5%

Cash

644.2M USD

669.0M USD

+3.8%

Shares outstanding

64.2M

63.8M

−0.6%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

15.5%

11.5%

13.2%

16.3%

15.0%

▼ 1.3 pts

Net margin

8.4%

4.8%

5.7%

7.3%

5.5%

▼ 1.8 pts

Return on assets (ROA)

5.7%

3.3%

4.1%

5.4%

4.3%

▼ 1.1 pts

Return on equity (ROE)

129.5%

78.7%

65.5%

—

Free cash flow margin

11.1%

8.3%

12.3%

11.4%

9.6%

▼ 1.8 pts

Current ratio

1.32×

1.20×

1.19×

1.26×

1.29×

▲ 2.5%

Quick ratio

1.28×

1.16×

1.13×

1.21×

1.24×

▲ 2.1%

Debt to equity

11.79×

12.53×

7.95×

—

Interest coverage

6.73×

3.95×

4.29×

4.80×

3.79×

▼ 21%