DaVita Inc.DVA
NYSE•Healthcare•Medical Care Facilities
DaVita Inc. provides kidney dialysis services for patients suffering from chronic kidney failure in the United States. The company operates kidney dialysis centers and provides related lab services in outpatient dialysis centers. It also offers outpatient, hospital inpatient, and home-based hemodialysis dialysis services; operates clinical laboratories that provide routine laboratory tests for dialysis and other physician-prescribed laboratory tests for ESRD patients; and management and administrative services to outpatient dialysis centers. In addition, the company offers integrated care and disease management services to patients in risk-based and other integrated care arrangements; clinical research programs; physician services; and comprehensive kidney care services. Further, it engages in the transplant software business. The company was formerly known as DaVita HealthCare Partners Inc. and changed its name to DaVita Inc. in September 2016. DaVita Inc. was incorporated in 1994 and is headquartered in Denver, Colorado.
DaVita Inc. (DVA) reported trailing twelve months revenue of $13.84B as of March 2026, a 6.7% increase year-over-year. Quarterly revenue reached $3.42B, reflecting continued top-line momentum.
DaVita Inc. generated $781.42M in TTM net income, with quarterly EBITDA of $655.25M. The operating margin expanded from 13.6% to 14.1%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (14.1%) and net margin (5.8%) indicates moderate non-operating costs. Net margin has improved from 5.1% a year ago, signaling stronger bottom-line efficiency.
DVA trades at a P/E of 13.4x (below the broader market average) and a P/S of 0.8x.
The company generated $218.81M in free cash flow over the trailing twelve months, a 495.4% increase year-over-year, indicating cash generation ability. The balance sheet shows $17.50B in total assets with $10.51B in long-term debt against $-755.50M in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~15.4% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 48.3% suggests a durable competitive advantage and efficient capital allocation.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (7 of 7 quarters up), with ~10.5% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~15.0% — no sign of cost or pricing stress.
FCF covers net income by 2.0x on average — earnings are well-supported by cash generation.
D/E ratio is 8.8 — dangerously high. The company is heavily leveraged and vulnerable to rising rates or cash flow dips.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 22.6% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation