Tearsheet

DaVita (DVA)

Market Price (12/5/2025): $117.31 | Market Cap: $8.5 Bil
Sector: Health Care | Industry: Health Care Services

DaVita (DVA)

Market Price (12/5/2025): $117.31
Market Cap: $8.5 Bil
Sector: Health Care
Industry: Health Care Services

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9%, FCF Yield is 13%	Weak multi-year price returns 2Y Excs Rtn is -35%, 3Y Excs Rtn is -9.6%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 126%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10%
2	Low stock price volatility Vol 12M is 31%
3	Megatrend and thematic drivers Megatrends include Aging Population & Chronic Disease, and Digital Health & Telemedicine. Themes include Remote Patient Monitoring, Geriatric Care, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9%, FCF Yield is 13%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%
2	Low stock price volatility Vol 12M is 31%
3	Megatrend and thematic drivers Megatrends include Aging Population & Chronic Disease, and Digital Health & Telemedicine. Themes include Remote Patient Monitoring, Geriatric Care, Show more.
4	Weak multi-year price returns 2Y Excs Rtn is -35%, 3Y Excs Rtn is -9.6%
5	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10%
6	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 126%

Valuation, Metrics & Events

	12/5/25	2024	2023	2022	2021
Share Price CYE	$117.31	$149.55	$104.76	$74.67	$113.76
Market Cap CYE ($ Bil)	8.5	12.2	9.5	6.7	11.5
Total Debt ($ Bil)	12.8	12.1	11.1	11.8	12.0
Total Cash ($ Bil)	0.7	0.8	0.4	0.3	0.5
Enterprise Value ($ Bil)	20.5	24.3	20.6	18.5	23.5
Valuation Ratios
P/S TTM	0.7	1.0	0.8	0.6	1.0
P/EBIT TTM	4.9	6.3	6.0	5.2	6.6
P/E TTM	12.4	13.6	13.8	12.4	12.2
Sector Ratios
P/S TTM (Sector)	3.7	3.5	3.9	4.4	7.1
P/EBIT TTM (Sector)	-1.4	-1.3	-1.3	-1.2	-2.6
P/E TTM (Sector)	-1.6	-1.5	-1.5	-1.3	-2.8

	12/5/25	2024	2023
Share Price CYE	$117.31	$149.55	$104.76
Market Cap CYE ($ Bil)	8.5	12.2	9.5
Total Debt ($ Bil)	12.8	12.1	11.1
Total Cash ($ Bil)	0.7	0.8	0.4
Enterprise Value ($ Bil)	20.5	24.3	20.6
Valuation Ratios
P/S TTM	0.7	1.0	0.8
P/EBIT TTM	4.9	6.3	6.0
P/E TTM	12.4	13.6	13.8
Sector Ratios
P/S TTM (Sector)	3.7	3.5	3.9
P/EBIT TTM (Sector)	-1.4	-1.3	-1.3
P/E TTM (Sector)	-1.6	-1.5	-1.5

	DVA	S&P 500
REVENUE GROWTH	POOR
Rev LTM ($ Bil)	13.3
Rev Chg Q	4.8%	7.1%
Rev Chg LTM	5.1%	6.1%
Rev Chg 3Y Avg	4.6%	5.5%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	1.9
CFO LTM ($ Bil)	1.9
Net Inc LTM ($ Bil)	0.8
Op Mgn LTM	14.6%	18.8%
CFO/Rev LTM	14.2%	20.5%
Net Inc Mgn	5.8%	13.1%
VALUATION	LOW
P/S	0.7	3.2
P/CFO	5.1	15.8
P/FCF	7.4	20.5
P/E	12.4	23.5
STABILITY	POOR
Debt/Equity	1.33	0.20
Cash/Assets	0.04	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Total U.S. Dialysis Treatments	7240000	9302025	Link
Average U.S. Dialysis Treatments Per Day	91680	9302025	Link
Total Patients Served Globally	293200	9302025	Link
Total Outpatient Dialysis Centers Globally	3247	9302025	Link
U.S. Outpatient Dialysis Centers	2662	9302025	Link
International Outpatient Dialysis Centers	585	9302025	Link
Number of Countries with International Centers	14	9302025	Link
DaVita Patients Receiving a Kidney Transplant	more than 8,200	12312024	Link
Teammate Engagement Score	84%	12312024	Link
Patients in Integrated Kidney Care (Risk-Based Arrangements)	58000	12312023	Link
Patients in Other Integrated Care Arrangements	17000	12312023	Link
People Educated Through Kidney Smart Program	more than 37,000	12312023	Link

Upcoming
2/12/2026	Earnings Release	Rev: - EPS: -

DVA Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

Here are the key points for why DaVita's (DVA) stock moved by approximately -14.9% from August 31, 2025, to December 5, 2025:

1. DaVita's Q3 2025 Earnings Missed Analyst Expectations
DaVita reported adjusted earnings per share (EPS) of $2.51 for the third quarter of 2025, which significantly missed the analyst consensus of $3.17 to $3.25. The company's revenue of $3.42 billion also slightly fell short of estimates of $3.43 billion to $3.46 billion. This substantial earnings shortfall, representing approximately a 23% miss on EPS, negatively impacted investor sentiment.

2. Decline in U.S. Dialysis Treatment Volume
The company experienced a decrease in its U.S. dialysis treatment volumes during the third quarter of 2025. U.S. dialysis treatments totaled 7.24 million, a 0.5% decrease compared to the second quarter of 2025. Moreover, year-over-year normalized non-acquired treatment growth declined by 0.6%, and other reports indicated a 1.5% year-over-year decline in U.S. treatment volume for Q3 2025, signaling a headwind for DaVita's core business.

3. Cybersecurity Incident Charges Impacted Financial Results
DaVita incurred approximately $11.7 million in general and administrative charges in the third quarter of 2025. These charges were related to a cybersecurity incident that occurred in the second quarter of 2025, further affecting the company's profitability.

4. Cautious Analyst Sentiment, Downgrades, and Price Target Reductions
During this period, analyst sentiment towards DaVita turned increasingly cautious. Multiple research firms downgraded the stock or reduced their price targets. For instance, Zacks Research downgraded DaVita to a "strong sell," while Barclays and TD Cowen also lowered their price objectives, contributing to a consensus "Reduce" rating for the stock.

5. Regulatory Jitters and Concerns over Reimbursement Rates
Uncertainties surrounding healthcare regulations and potential policy changes created jitters among investors. Concerns raised by figures like Jim Cramer regarding fresh Senate legislation and subsidy issues unsettling the healthcare sector added to the cautious atmosphere. Additionally, ongoing challenges with reimbursement rates lagging inflation were highlighted as a critical risk, potentially impacting DaVita's future financial performance.

Show less

Stock Movement Drivers

Fundamental Drivers

The -13.5% change in DVA stock from 9/4/2025 to 12/4/2025 was primarily driven by a -11.0% change in the company's P/E Multiple.

	9042025	12042025	Change
Stock Price ($)	135.56	117.28	-13.48%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	13161.33	13317.97	1.19%
Net Income Margin (%)	6.35%	5.80%	-8.78%
P/E Multiple	12.31	10.95	-11.05%
Shares Outstanding (Mil)	75.94	72.08	5.09%
Cumulative Contribution			-13.71%

LTM = Last Twelve Months as of date shown

Market Drivers

9/4/2025 to 12/4/2025

	Return	Correlation
DVA	-13.5%
Market (SPY)	5.4%	20.1%
Sector (XLV)	12.0%	45.5%

Fundamental Drivers

The -14.9% change in DVA stock from 6/5/2025 to 12/4/2025 was primarily driven by a -13.9% change in the company's P/E Multiple.

	6052025	12042025	Change
Stock Price ($)	137.74	117.28	-14.85%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	12968.52	13317.97	2.69%
Net Income Margin (%)	6.63%	5.80%	-12.56%
P/E Multiple	12.72	10.95	-13.89%
Shares Outstanding (Mil)	79.37	72.08	9.19%
Cumulative Contribution			-15.57%

LTM = Last Twelve Months as of date shown

Market Drivers

6/5/2025 to 12/4/2025

	Return	Correlation
DVA	-14.9%
Market (SPY)	15.7%	19.3%
Sector (XLV)	16.2%	54.7%

Fundamental Drivers

The -28.2% change in DVA stock from 12/4/2024 to 12/4/2025 was primarily driven by a -33.7% change in the company's P/E Multiple.

	12042024	12042025	Change
Stock Price ($)	163.38	117.28	-28.22%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	12666.61	13317.97	5.14%
Net Income Margin (%)	6.53%	5.80%	-11.30%
P/E Multiple	16.53	10.95	-33.74%
Shares Outstanding (Mil)	83.72	72.08	13.91%
Cumulative Contribution			-29.61%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2024 to 12/4/2025

	Return	Correlation
DVA	-28.2%
Market (SPY)	13.7%	32.0%
Sector (XLV)	6.3%	49.9%

Fundamental Drivers

The 59.7% change in DVA stock from 12/5/2022 to 12/4/2025 was primarily driven by a 20.9% change in the company's Shares Outstanding (Mil).

	12052022	12042025	Change
Stock Price ($)	73.45	117.28	59.67%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	11636.97	13317.97	14.45%
Net Income Margin (%)	5.84%	5.80%	-0.78%
P/E Multiple	9.85	10.95	11.17%
Shares Outstanding (Mil)	91.16	72.08	20.94%
Cumulative Contribution			52.67%

LTM = Last Twelve Months as of date shown

Market Drivers

12/5/2023 to 12/4/2025

	Return	Correlation
DVA	12.1%
Market (SPY)	53.3%	26.5%
Sector (XLV)	20.1%	40.5%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
DVA Return	56%	-3%	-34%	40%	43%	-22%	56%
Peers Return	37%	31%	-15%	-3%	13%	20%	101%
S&P 500 Return	16%	27%	-19%	24%	23%	17%	112%
Monthly Win Rates [3]
DVA Win Rate	58%	50%	50%	67%	67%	30%
Peers Win Rate	55%	57%	48%	47%	53%	52%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
DVA Max Drawdown	-13%	-20%	-42%	-2%	-1%	-23%
Peers Max Drawdown	-42%	-7%	-39%	-22%	-6%	-16%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HCA, UHS, HSIC, SEM, CYH. See DVA Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/4/2025 (YTD)

How Low Can It Go

Unique Key	Event	DVA	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-51.1%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	104.5%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	482 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-26.6%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	36.2%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	131 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-45.7%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	84.3%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	236 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-36.4%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	57.1%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	454 days	1480 days

Compare to HCA, UHS, HSIC, SEM, CYH

In The Past

DaVita's stock fell -51.1% during the 2022 Inflation Shock from a high on 8/4/2021. A -51.1% loss requires a 104.5% gain to breakeven.

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About DaVita (DVA)

DaVita Inc. provides kidney dialysis services for patients suffering from chronic kidney failure. The company operates kidney dialysis centers and provides related lab services in outpatient dialysis centers. It also provides outpatient, hospital inpatient, and home-based hemodialysis services; owns 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 provides disease management services to 16,000 patients in risk-based integrated care arrangements and 7,000 patients in other integrated care arrangements; vascular access services; clinical research programs; physician services; and comprehensive kidney care services. As of December 31, 2021, it provided dialysis and administrative services in the United States through a network of 2,815 outpatient dialysis centers serving approximately 203,100 patients; and operated 339 outpatient dialysis centers located in 10 countries outside of the United States serving approximately 39,900 patients. Further, the company provides acute inpatient dialysis services in approximately 850 hospitals and related laboratory services in the United States. 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.

AI Generated Analysis | Feedback

Here are 1-2 brief analogies for DaVita:

Jiffy Lube for kidney dialysis: Think of DaVita as a widespread network of specialized centers providing essential, recurring 'maintenance' for people with kidney failure, similar to how Jiffy Lube provides routine car maintenance.
Like a CVS MinuteClinic, but exclusively for chronic kidney care and dialysis: DaVita operates numerous outpatient centers, much like a network of specialized walk-in clinics, but their sole focus is on providing life-sustaining treatments and support for patients with advanced kidney disease.

AI Generated Analysis | Feedback

Dialysis Services: DaVita provides life-sustaining hemodialysis and peritoneal dialysis treatments for patients suffering from end-stage renal disease (ESRD).
Kidney Health Education and Support: The company offers educational programs and resources to help patients and their families understand and manage chronic kidney disease (CKD) and its treatment options.
Vascular Access Management: DaVita delivers specialized services for the creation, maintenance, and management of vascular access sites crucial for effective dialysis treatments.

AI Generated Analysis | Feedback

DaVita (DVA) is a healthcare company that provides kidney dialysis services. While the direct recipients of its services are individuals (patients), the primary "customers" in terms of revenue generation and financial relationships are the third-party payers who reimburse DaVita for these services.

Therefore, DaVita primarily sells its services to other organizations, including government programs and commercial health insurers. Its major customers include:

Government Programs: These represent the largest single payer category for dialysis services in the United States. They include:
- Medicare
- Medicaid
Commercial Health Insurers: DaVita contracts with a wide array of private health insurance companies to cover its patients. Major public companies in this category that represent significant payers for DaVita's services include:
- UnitedHealth Group (Symbol: UNH)
- Elevance Health (Symbol: ELV)
- CVS Health (which includes Aetna) (Symbol: CVS)
- The Cigna Group (Symbol: CI)

AI Generated Analysis | Feedback

Amgen (AMGN)
Roche (ROG.SW)
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CSL Limited (CSL.AX)
OPKO Health (OPK)

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Javier Rodriguez, Chief Executive Officer

Javier Rodriguez has served as the Chief Executive Officer of DaVita Inc. since June 2019. He joined DaVita in 1998 and has held various leadership roles, including CEO of DaVita Kidney Care from 2014 to 2019, President from 2012 to 2014, Senior Vice President from 2006 to 2012, and Vice President of Operations and Payor Contracting from 2000 to 2006. Prior to DaVita, he worked in finance for Baxter Healthcare Corporation and in operations for CBS Marketing Inc. in Mexico City. Mr. Rodriguez serves on the board of directors for Gilead Sciences Inc.

Joel Ackerman, Chief Financial Officer and Treasurer

Joel Ackerman has been the Chief Financial Officer and Treasurer of DaVita Inc. since March 2017. Before joining DaVita, he was the Chief Executive Officer and a board member of Champions Oncology, Inc., a company focused on oncology drug development, from 2010 to 2017. Mr. Ackerman also served as a Managing Director and Head of the Healthcare Services Group at Warburg Pincus, a global private equity firm, for 10 years from 1999 to 2008. He currently serves as the Chairman of Champions Oncology, Inc. and One Acre Fund.

Kathleen A. Waters, Chief Legal & Public Affairs Officer

Kathleen A. Waters became DaVita's Chief Legal Officer in May 2016 and took on the expanded role of Chief Legal and Public Affairs Officer in February 2021, overseeing all legal, regulatory, and government affairs functions. Before joining DaVita, Ms. Waters served as Senior Vice President, General Counsel, and Secretary of Health Net, Inc., a publicly traded managed care organization, from April 2015 to March 2016. Prior to that, she was a partner at Morgan, Lewis & Bockius LLP from 2003 to 2015, where she co-chaired the healthcare group, and a partner at Brobeck, Phleger & Harrison LLP.

David Maughan, Chief Operating Officer

David Maughan was appointed Chief Operating Officer of DaVita Inc. in September 2024. He has been with DaVita since 2006, holding various leadership roles with increasing operational responsibilities. Most recently, he served as Senior Vice President, overseeing strategic functions for DaVita's Hospital Services and Home businesses, as well as human resources, talent strategy, IT, state government affairs, marketing, and communications. Prior to DaVita, Mr. Maughan worked in finance for Goldman Sachs.

Jessica Hergenreter, Chief People Officer

Jessica Hergenreter became DaVita's Chief People Officer in September 2024. Before joining DaVita, Ms. Hergenreter spent 13 years at Vail Resorts in various leadership roles, including Chief of Staff to the CEO and head of talent, where she was responsible for talent acquisition, development, culture, and diversity, equity, and inclusion strategies for 55,000 employees. Earlier in her career, she provided HR consulting across diverse industries.

AI Generated Analysis | Feedback

The development of implantable or wearable artificial kidneys represents a clear emerging threat. These technologies aim to replicate the functions of the human kidney, potentially reducing or eliminating the need for traditional dialysis treatments and facilities which are central to DaVita's business model. Ongoing research and development, such as that by The Kidney Project at UCSF, demonstrate tangible progress in creating bio-artificial kidneys, signaling a long-term disruptive shift in kidney failure treatment.

AI Generated Analysis | Feedback

DaVita Inc. (DVA) primarily provides kidney dialysis services and integrated healthcare management for patients suffering from chronic kidney disease (CKD) and end-stage renal disease (ESRD). The addressable markets for DaVita's main products and services are significant, both globally and within the United States.

Global Market Sizes

Global End-Stage Renal Disease (ESRD) Market: The global ESRD market was valued at approximately USD 112.08 billion in 2023 and is projected to reach USD 339.38 billion by 2032, growing at a CAGR of 13.1% from 2025 to 2032. Another estimate values the global ESRD market at USD 157.1 billion in 2025, with a projection to reach USD 541.2 billion by 2034.
Global Dialysis Services Market: This market was valued at USD 77.1 billion in 2023 and is anticipated to grow at a CAGR of 5.1% between 2024 and 2032. Other reports indicate the global dialysis market size was USD 98.51 billion in 2024, projected to grow to USD 181.16 billion by 2032 with a CAGR of 8.4%. Another source states the global dialysis market size was USD 120.75 billion in 2025, predicted to surpass USD 209.26 billion by 2034.
Global Renal Failure Treatment Market: This broader market, which includes dialysis, was estimated at USD 122.03 billion in 2024 and is predicted to increase from USD 132.28 billion in 2025 to approximately USD 273.38 billion by 2034.

U.S. Market Sizes

U.S. End-Stage Renal Disease (ESRD) Market: The U.S. ESRD market was valued at USD 15.95 billion in 2023 and is projected to reach USD 42.47 billion by 2032, exhibiting a CAGR of 13.1%. It is also projected to reach USD 41.0 billion in 2025.
U.S. Dialysis Services Market: The U.S. dialysis services market was valued at USD 33.7 billion in 2023 and is expected to grow at a CAGR of 4% from 2024 to 2032. Other estimations place the U.S. dialysis service market size at USD 28.14 billion in 2023, growing to USD 44.41 billion by 2032. The U.S. dialysis centers market alone was estimated at USD 29.51 billion in 2024 and is projected to grow to USD 46.89 billion by 2033. The U.S. dialysis market size is evaluated at USD 32.60 billion in 2024 and is predicted to be worth around USD 61.22 billion by 2034.

AI Generated Analysis | Feedback

DaVita (symbol: DVA) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

Price Increases / Revenue per Treatment Growth: DaVita has historically benefited from price increases, with revenue per treatment being a significant contributor to overall revenue growth, especially when treatment volumes have been relatively flat. Management anticipates full-year revenue per treatment (RPT) growth to be at the lower end of their original 4.5% to 5.5% guidance, with an expected acceleration in the fourth quarter driven by normal rate increases.
Expansion of Integrated Kidney Care (IKC): The Integrated Kidney Care segment, DaVita's value-based care business, is a strategic focus and is expected to contribute to revenue growth. Investments in clinical innovation within this segment are also highlighted as important for future growth.
International Market Expansion and Acquisitions: DaVita is pursuing opportunities to expand its presence in international markets. The company has a presence in 13 countries globally and has recently engaged in acquisitions in Latin America, including Colombia and planned expansion in Brazil, to broaden its reach.
Stabilization and Potential Growth in Treatment Volume: While recent treatment volumes have been impacted by external factors such as a severe flu season, hurricanes, and cyber incidents, management's guidance for 2025 assumes flat treatment volume growth. Should these temporary headwinds subside, there is a potential for stabilization or a modest improvement in patient volumes, supported by DaVita's focus on comprehensive kidney care and improving patient outcomes.
Investment in New Technologies and Clinical Innovation: DaVita is investing in innovative technologies and advancing clinical care to improve patient and teammate experiences and drive long-term cost efficiencies. This includes advancements in treatments, transplant access, and end-of-life care, which could lead to new service offerings and improved patient retention.

AI Generated Analysis | Feedback

Share Repurchases

DaVita completed the repurchase of 42,350,905 shares for $5,092.01 million under a buyback program announced in December 2020, with repurchases ongoing through at least September 30, 2025.
In 2024, the company repurchased 9.833 million shares of its common stock for approximately $1.389 billion. Annual share repurchases were $272.219 million in 2023 and $802.228 million in 2022.
In August 2025, DaVita increased its equity buyback authorization by an additional $2 billion, bringing the overall authorization to $8 billion, with no specified expiration date.

Outbound Investments

Effective April 1, 2023, DaVita formed Mozarc Medical Holding LLC, a new independent kidney care-focused medical device company, holding a 50% voting equity interest with Medtronic, Inc. The cumulative measured cost of this investment was recorded at $370.7 million.
DaVita has expanded its international footprint, entering new markets in Ecuador and Chile in 2024 and deepening its presence in Colombia. These international acquisitions, particularly in Latin America, are expected to drive future growth.
By mid-2025, DaVita anticipates closing a $100 million transaction to acquire care centers from Fresenius, pending regulatory approval.

Capital Expenditures

DaVita's capital expenditures were $555 million in 2024, $568 million in 2023, and $603 million in 2022.
The primary focus of development capital expenditures includes new U.S. and international dialysis center developments, existing center expansions and relocations, and new or expanded contracted hospital operations.
The company is investing in technology infrastructure, including enhancements to its clinical platform, upgrades to scheduling and revenue operations systems, and the adoption of AI solutions, aiming to advance clinical care, improve patient experience, and drive long-term cost efficiencies.

Better Bets than DaVita (DVA)

	DVA	Better Performance than DVA
Metric	Value	INDUSTRY: Health Care Services
Rev Chg LTM	5.1%	HIMS (78.0%), CI (20.9%), DGX (13.7%), LH (8.3%), CVS (6.8%)
Rev Chg 3Y Avg	4.6%	HIMS (71.0%), BTSG (24.3%), CI (13.6%), LH (8.6%), CVS (7.7%)
Op Mgn LTM	14.6%	SHC (29.9%), CON (15.5%)
CFO/Rev LTM	14.2%	VCYT (21.9%), SHC (20.8%), DGX (17.4%), CHE (16.6%), HIMS (14.7%)
FCF/Rev LTM	9.7%	VCYT (19.8%), CHE (14.2%), DGX (12.8%), CRVL (10.8%), LH (10.0%)
Total Yield	8.1%	MD (11.4%), CI (8.6%)
P/S	0.7	CVS (0.2), AMN (0.3), CI (0.3), BTSG (0.5)
P/Op Inc	4.9

	DVA	Better Performance than DVA
Metric	Value	SECTOR: Health Care
Rev Chg LTM	5.1%	LLY (36.8%), ISRG (22.2%), UNH (10.5%), ABBV (7.4%), ABT (6.4%)
Rev Chg 3Y Avg	4.6%	LLY (23.4%), ISRG (16.3%), UNH (11.4%), AMGN (11.2%), JNJ (6.1%)
Op Mgn LTM	14.6%	LLY (43.0%), MRK (34.9%), JNJ (26.2%), ABBV (24.1%), ABT (17.6%)
CFO/Rev LTM	14.2%	ABBV (35.0%), MRK (26.6%), JNJ (26.3%), ABT (20.8%), LLY (20.5%)
FCF/Rev LTM	9.7%	ABBV (33.0%), MRK (20.3%), JNJ (20.3%), ABT (15.8%), TMO (14.0%)
Total Yield	8.1%	PFE (13.5%), MRK (13.0%), GILD (8.8%), JNJ (8.4%), UNH (8.1%)
P/S	0.7	CVS (0.2), MCK (0.2), CI (0.3), ELV (0.4), UNH (0.7)
P/Op Inc	4.9	BHC (1.3), OGN (1.9), NUTX (3.3), NVAX (3.5), ARDT (4.4)

	DVA	Better Performance than DVA
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	5.1%	NVDA (71.6%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%), AAPL (6.0%)
Rev Chg 3Y Avg	4.6%	NVDA (92.0%), AVGO (24.0%), MSFT (13.2%), AMZN (11.3%), GOOGL (11.0%)
Op Mgn LTM	14.6%	NVDA (58.1%), MSFT (46.3%), AVGO (39.0%), GOOGL (32.2%), AAPL (31.9%)
CFO/Rev LTM	14.2%	MSFT (50.0%), NVDA (46.6%), GOOGL (39.3%), AAPL (26.6%), AMZN (18.1%)
FCF/Rev LTM	9.7%	NVDA (43.6%), AVGO (41.6%), MSFT (26.6%), AAPL (23.5%), GOOGL (19.1%)
Total Yield	8.1%	RY (10.3%), XOM (10.3%), WFC (9.9%), CVX (8.3%), UBER (8.1%)
P/S	0.7	GM (0.3), PSX (0.4), VLO (0.4), MPC (0.4), FDX (0.6)
P/Op Inc	4.9	CHTR (2.8), IBKR (3.6), RCI (3.8), BCE (4.0), EIX (4.1)

		Best Bets In Health Care Sector
	DVA	RPRX	HALO	DOCS	UTHR	CPRX	HRMY	LGND	ISRG	GMED	MD
What You Pay
P/E	12.4	19.9	14.4	54.3	14.4	11.1	8.5	71.4	58.1	18.2	8.7
P/EBIT	4.9	9.6	11.3	55.6	10.9	9.3	6.5	51.9	56.6	17.8	5.9
What You Get
Rev Chg Q	4.8%	7.9%	22.1%	23.2%	6.8%	15.3%	28.7%	122.8%	22.9%	22.9%	-3.6%
Rev Chg LTM	5.1%	3.7%	31.2%	20.2%	13.5%	25.6%	21.1%	64.8%	22.2%	11.7%	-4.2%
Rev Chg 3Y Avg	4.6%	1.5%	29.0%	17.4%	19.0%	46.5%	27.4%	16.0%	16.3%	45.6%	-0.5%
FCF/Rev 3Y Avg	10.6%	115.2%	45.0%	42.7%	34.3%	34.2%	33.2%	23.9%	16.5%	14.3%	8.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 11%, alpha of 1.9%, and sharpe of 0.52

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	How Low Can DaVita Stock Really Go?	Return
2	DaVita vs Interactive Brokers: Which Is A Better Investment?	Counter-Intuitive Comparisons
3	DaVita vs PTC Therapeutics: Which Is A Better Investment?	Counter-Intuitive Comparisons
4	How Does DaVita Stock Stack Up Against Its Peers?	Peer Comparison
5	Better Bet Than DVA Stock: Pay Less Than DaVita To Get More From IBKR, PR
6	Better Bet Than DVA Stock: Pay Less Than DaVita To Get More From PTCT
7	DVA Dip Buy Analysis
8	DVA YTD Stock Return Of -4.6% Outperforms CYH by 7.7% and Underperforms HCA by -8.9%	Return
9	DaVita Total Shareholder Return (TSR): 42.8% in 2024 and 9.5% 3-yr compounded annual returns (above peer average)
10	DaVita (DVA) Operating Cash Flow Comparison	Financials
11	ARTICLES
12	Will DaVita Stock Rebound After A 10% Fall In A Month?		November 2nd, 2021
13	Identifying Key Factors Responsible For The 25% Jump In DaVita’s Stock This Month		November 29th, 2019

	Title
0	DASHBOARDS
1	How Low Can DaVita Stock Really Go?
2	DaVita vs Interactive Brokers: Which Is A Better Investment?
3	DaVita vs PTC Therapeutics: Which Is A Better Investment?
4	How Does DaVita Stock Stack Up Against Its Peers?
5	Better Bet Than DVA Stock: Pay Less Than DaVita To Get More From IBKR, PR
6	Better Bet Than DVA Stock: Pay Less Than DaVita To Get More From PTCT
7	DVA Dip Buy Analysis
8	DVA YTD Stock Return Of -4.6% Outperforms CYH by 7.7% and Underperforms HCA by -8.9%
9	DaVita Total Shareholder Return (TSR): 42.8% in 2024 and 9.5% 3-yr compounded annual returns (above peer average)
10	DaVita (DVA) Operating Cash Flow Comparison
11	ARTICLES
12	Will DaVita Stock Rebound After A 10% Fall In A Month?
13	Identifying Key Factors Responsible For The 25% Jump In DaVita’s Stock This Month

Trade Ideas

Select past ideas related to DVA. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CRL_11142025_Dip_Buyer_FCFYield	11142025	CRL	Charles River Laboratories International	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	10.0%	10.0%	-3.7%
GDRX_11142025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11142025	GDRX	GoodRx	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	-7.7%	-7.7%	-11.8%
ASTH_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11142025	ASTH	Astrana Health	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	6.9%	6.9%	-5.5%
SGRY_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11142025	SGRY	Surgery Partners	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	11.5%	11.5%	-1.4%
TFX_11072025_Dip_Buyer_FCFYield	11072025	TFX	Teleflex	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	8.9%	8.9%	-5.1%
DVA_10312023_Dip_Buyer_ValueBuy	10312023	DVA	DaVita	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	80.0%	82.9%	0.0%
DVA_12312018_Dip_Buyer_ValueBuy	12312018	DVA	DaVita	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	9.0%	45.8%	-15.6%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CRL_11142025_Dip_Buyer_FCFYield	11142025	CRL	Charles River Laboratories International	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	10.0%	10.0%	-3.7%
GDRX_11142025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11142025	GDRX	GoodRx	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	-7.7%	-7.7%	-11.8%
ASTH_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11142025	ASTH	Astrana Health	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	6.9%	6.9%	-5.5%
SGRY_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11142025	SGRY	Surgery Partners	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	11.5%	11.5%	-1.4%
TFX_11072025_Dip_Buyer_FCFYield	11072025	TFX	Teleflex	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	8.9%	8.9%	-5.1%
DVA_10312023_Dip_Buyer_ValueBuy	10312023	DVA	DaVita	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	80.0%	82.9%	0.0%
DVA_12312018_Dip_Buyer_ValueBuy	12312018	DVA	DaVita	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	9.0%	45.8%	-15.6%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
USAR	USA Rare Earth	1.8	24.7%	58557.7%
PATH	UiPath	9.9	24.4%	45.4%
ASTS	AST SpaceMobile	17.6	18.2%	244.3%
FLNC	Fluence Energy	3.1	17.6%	47.0%
SAIC	Science Applications International	4.8	16.3%	-7.7%
AEVA	Aeva Technologies	0.9	16.0%	234.3%
AXGN	Axogen	1.5	16.0%	99.4%
SANA	Sana Biotechnology	1.3	15.9%	217.8%
OKLO	Oklo	15.6	15.6%	425.9%
RGTI	Rigetti Computing	9.0	15.4%	97.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
HOV	Hovnanian Enterprises	0.7	-22.5%	-22.4%
SYM	Symbotic	6.6	-17.4%	155.1%
BBW	Build-A-Bear Workshop	0.6	-15.5%	7.1%
DJCO	Daily Journal	0.6	-11.9%	-22.5%
PVH	PVH	3.7	-11.9%	-26.9%
SNOW	Snowflake	78.7	-11.4%	52.0%
QURE	uniQure	1.2	-10.8%	28.8%
MBX	MBX Biosciences	1.0	-10.0%	65.7%
WLY	John Wiley & Sons	1.8	-8.6%	-18.7%
LUMN	Lumen Technologies	8.7	-8.3%	65.3%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	7.7	601.0%	-45.7%
HPP	Hudson Pacific Properties	6.1	591.8%	-36.1%
AEVA	Aeva Technologies	0.9	50.8%	234.3%
MPLT	MapLight Therapeutics	0.8	41.2%
USAR	USA Rare Earth	1.8	40.6%	58557.7%
PATH	UiPath	9.9	36.0%	45.4%
EVEX	Eve	1.6	34.4%	-7.4%
TMC	TMC The Metals	2.9	33.8%	596.4%
TE	T1 Energy	0.8	33.1%
INDI	Indie Semiconductor	0.9	32.1%	13.8%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.0	-52.7%	-69.4%
CTEV	Claritev	0.6	-32.7%
SYM	Symbotic	6.6	-30.7%	155.1%
FULC	Fulcrum Therapeutics	0.5	-22.6%	86.4%
HOV	Hovnanian Enterprises	0.7	-22.0%	-22.4%
VTYX	Ventyx Biosciences	0.6	-19.9%	265.3%
SIG	Signet Jewelers	3.5	-17.8%	7.2%
CMCL	Caledonia Mining	0.5	-17.8%	175.7%
QURE	uniQure	1.2	-17.7%	28.8%
URGN	UroGen Pharma	1.2	-17.5%	128.0%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
LXP	LXP Industrial Trust	2.8	406.1%	25.7%
OLMA	Olema Pharmaceuticals	2.4	237.1%	374.1%
COGT	Cogent Biosciences	5.4	178.2%	404.0%
CDTX	Cidara Therapeutics	5.9	119.6%	720.3%
SGML	Sigma Lithium	1.1	113.2%	-11.1%
IRWD	Ironwood Pharmaceuticals	0.6	99.5%	-15.8%
ALMS	Alumis	0.6	82.4%	5.6%
NPCE	NeuroPace	0.6	80.5%	51.7%
BW	Babcock & Wilcox Enterprises	0.7	80.5%	311.6%
CBLL	CeriBell	0.7	75.4%	-26.0%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CCOI	Cogent Communications	0.9	-53.0%	-74.0%
UP	Wheels Up Experience	0.5	-48.0%	-60.0%
TLRY	Tilray Brands	7.7	-41.8%	-45.7%
AMSC	American Superconductor	1.4	-41.4%	34.0%
CTEV	Claritev	0.6	-41.2%
BTDR	Bitdeer Technologies	2.5	-40.7%	-41.6%
FRMI	Fermi	11.1	-40.2%
JANX	Janux Therapeutics	1.0	-39.3%	-69.4%
ARDT	Ardent Health	1.2	-39.1%	-48.1%
SMR	NuScale Power	3.4	-35.9%	27.4%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
USAR	USA Rare Earth	1.8	24.7%	58557.7%
PATH	UiPath	9.9	24.4%	45.4%
ASTS	AST SpaceMobile	17.6	18.2%	244.3%
FLNC	Fluence Energy	3.1	17.6%	47.0%
SAIC	Science Applications International	4.8	16.3%	-7.7%
AEVA	Aeva Technologies	0.9	16.0%	234.3%
AXGN	Axogen	1.5	16.0%	99.4%
SANA	Sana Biotechnology	1.3	15.9%	217.8%
OKLO	Oklo	15.6	15.6%	425.9%
RGTI	Rigetti Computing	9.0	15.4%	97.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
HOV	Hovnanian Enterprises	0.7	-22.5%	-22.4%
SYM	Symbotic	6.6	-17.4%	155.1%
BBW	Build-A-Bear Workshop	0.6	-15.5%	7.1%
DJCO	Daily Journal	0.6	-11.9%	-22.5%
PVH	PVH	3.7	-11.9%	-26.9%
SNOW	Snowflake	78.7	-11.4%	52.0%
QURE	uniQure	1.2	-10.8%	28.8%
MBX	MBX Biosciences	1.0	-10.0%	65.7%
WLY	John Wiley & Sons	1.8	-8.6%	-18.7%
LUMN	Lumen Technologies	8.7	-8.3%	65.3%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	7.7	601.0%	-45.7%
HPP	Hudson Pacific Properties	6.1	591.8%	-36.1%
AEVA	Aeva Technologies	0.9	50.8%	234.3%
MPLT	MapLight Therapeutics	0.8	41.2%
USAR	USA Rare Earth	1.8	40.6%	58557.7%
PATH	UiPath	9.9	36.0%	45.4%
EVEX	Eve	1.6	34.4%	-7.4%
TMC	TMC The Metals	2.9	33.8%	596.4%
TE	T1 Energy	0.8	33.1%
INDI	Indie Semiconductor	0.9	32.1%	13.8%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.0	-52.7%	-69.4%
CTEV	Claritev	0.6	-32.7%
SYM	Symbotic	6.6	-30.7%	155.1%
FULC	Fulcrum Therapeutics	0.5	-22.6%	86.4%
HOV	Hovnanian Enterprises	0.7	-22.0%	-22.4%
VTYX	Ventyx Biosciences	0.6	-19.9%	265.3%
SIG	Signet Jewelers	3.5	-17.8%	7.2%
CMCL	Caledonia Mining	0.5	-17.8%	175.7%
QURE	uniQure	1.2	-17.7%	28.8%
URGN	UroGen Pharma	1.2	-17.5%	128.0%

Peer Comparisons for DaVita

Peers to compare with:

Financials

	DVA	HCA	UHS	HSIC	SEM	CYH	Median
Name	DaVita	HCA Heal.	Universa.	Henry Sc.	Select M.	Communit.
Mkt Price	117.28	487.66	230.59	73.34	15.03	3.63	95.31
Mkt Cap	8.5	116.6	14.5	8.8	1.8	0.5	8.6
Rev LTM	13,318	72,698	16,993	12,938	5,369	12,644	13,128
Op Inc LTM	1,940	11,078	1,949	764	293	1,082	1,511
FCF LTM	1,292	7,292	950	356	174	143	653
FCF 3Y Avg	1,341	5,704	773	455	239	-74	614
CFO LTM	1,893	11,935	1,948	535	408	493	1,214
CFO 3Y Avg	1,924	10,451	1,641	644	465	325	1,142

Growth & Margins

	DVA	HCA	UHS	HSIC	SEM	CYH	Median
Name	DaVita	HCA Heal.	Universa.	Henry Sc.	Select M.	Communit.
Rev Chg LTM	5.1%	6.4%	10.2%	3.5%	45.3%	0.7%	5.8%
Rev Chg 3Y Avg	4.6%	6.6%	8.7%	0.9%	-0.6%	0.9%	2.8%
Rev Chg Q	4.8%	6.4%	13.4%	5.2%	7.2%	-0.1%	5.8%
QoQ Delta Rev Chg LTM	1.2%	1.6%	3.2%	1.3%	1.7%	-0.0%	1.4%
Op Mgn LTM	14.6%	15.2%	11.5%	5.9%	5.5%	8.6%	10.0%
Op Mgn 3Y Avg	13.9%	15.0%	9.8%	5.7%	4.3%	7.3%	8.5%
QoQ Delta Op Mgn LTM	-0.4%	0.1%	0.5%	-0.1%	0.2%	1.6%	0.2%
CFO/Rev LTM	14.2%	16.4%	11.5%	4.1%	7.6%	3.9%	9.5%
CFO/Rev 3Y Avg	15.3%	15.4%	10.5%	5.1%	10.5%	2.6%	10.5%
FCF/Rev LTM	9.7%	10.0%	5.6%	2.8%	3.2%	1.1%	4.4%
FCF/Rev 3Y Avg	10.6%	8.4%	4.9%	3.6%	5.6%	-0.6%	5.2%

Valuation

	DVA	HCA	UHS	HSIC	SEM	CYH	Median
Name	DaVita	HCA Heal.	Universa.	Henry Sc.	Select M.	Communit.
Mkt Cap	8.5	116.6	14.5	8.8	1.8	0.5	8.6
P/S	0.7	1.4	0.8	0.6	0.3	0.0	0.7
P/EBIT	4.9	9.3	6.5	11.9	4.8	0.3	5.7
P/E	12.4	17.1	9.4	20.4	14.1	1.3	13.2
P/CFO	5.1	8.5	6.6	14.9	3.8	0.9	5.8
Total Yield	8.1%	6.5%	11.1%	4.9%	9.7%	76.6%	8.9%
Dividend Yield	0.0%	0.7%	0.4%	0.0%	2.6%	0.0%	0.2%
FCF Yield 3Y Avg	13.0%	6.4%	6.1%	5.0%	8.5%	-20.8%	6.2%
D/E	1.3	0.5	0.4	0.4	1.8	26.2	0.9
Net D/E	1.3	0.4	0.4	0.4	1.8	25.9	0.9

Returns

	DVA	HCA	UHS	HSIC	SEM	CYH	Median
Name	DaVita	HCA Heal.	Universa.	Henry Sc.	Select M.	Communit.
1M Rtn	-2.2%	3.4%	2.9%	2.4%	12.9%	-4.0%	2.7%
3M Rtn	-13.5%	18.7%	24.3%	8.2%	16.1%	27.8%	17.4%
6M Rtn	-14.9%	28.3%	22.2%	4.1%	-1.1%	-4.5%	1.5%
12M Rtn	-28.2%	51.7%	16.3%	-1.5%	-25.5%	5.8%	2.1%
3Y Rtn	59.7%	112.5%	83.6%	-10.0%	18.5%	9.7%	39.1%
1M Excs Rtn	-3.5%	2.1%	1.7%	1.2%	11.7%	-5.2%	1.4%
3M Excs Rtn	-20.7%	10.3%	15.6%	-0.2%	9.5%	18.5%	9.9%
6M Excs Rtn	-30.3%	12.9%	6.7%	-11.4%	-16.5%	-19.9%	-13.9%
12M Excs Rtn	-41.8%	36.7%	1.9%	-17.5%	-40.7%	-7.3%	-12.4%
3Y Excs Rtn	-9.6%	38.8%	6.1%	-82.3%	-52.9%	-57.7%	-31.2%

Comparison Analyses

	Title
0	How Does DaVita Stock Stack Up Against Its Peers?
1	DaVita HealthCare Partners vs. Universal Health Services: With Return Forecast Of 11%, Universal Health Services Is A Better Bet
2	DVA or CHE - With 22% Return Forecast, CHE Probably Deserves Your Money
3	DaVita HealthCare Partners vs. Sherwin-Williams: With Return Forecast Of -3.7%, Sherwin-Williams Is A Better Bet
4	DaVita HealthCare Partners vs. Becton Dickinson and company: With Return Forecast Of 29%, Becton Dickinson and company Is A Better Bet
5	DaVita HealthCare Partners vs. Illinois Tool Works: With Return Forecast Of -0.5%, Illinois Tool Works Is A Better Bet
6	DaVita HealthCare Partners vs. Henry Schein: With Return Forecast Of -12%, Henry Schein Is A Better Bet
7	DaVita HealthCare Partners vs. Marriot: With Return Forecast Of 24%, Marriot Is A Better Bet
8	DaVita HealthCare Partners vs. Vertex Pharmaceuticals: With Return Forecast Of 71%, Vertex Pharmaceuticals Is A Better Bet
9	DaVita HealthCare Partners vs. Intuitive Surgical: With Return Forecast Of 46%, Intuitive Surgical Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/29/2025	2/13/2025	2/14/2024	2/22/2023	2/11/2022	2/12/2021	2/21/2020
Key Financials
Total Revenue	13,318	12,816	12,140	11,610	11,619	11,551	11,388
EBITDA	2,651	2,725	2,321	2,056	2,484	2,253	2,254
Operating Income	1,940	1,955	1,601	1,313	1,770	1,684	1,756
Net Income	772	936	692	560	978	774	811
EPS	9.94	11.02	7.62	6.03	9.30	6.46	5.29
Growth Rates
Total Revenue Growth	5.1%	5.6%	4.6%	-0.1%	0.6%	1.4%	-0.1%
EBITDA Growth	2.8%	17.4%	12.9%	-17.2%	10.3%	-0.1%	6.0%
Operating Income Growth	2.9%	22.1%	22.0%	-25.9%	5.1%	-4.1%	17.8%
Net Income Growth	-6.7%	35.4%	23.4%	-42.7%	26.5%	-4.6%	408.8%
Margins
EBITDA Margin	19.9%	21.3%	19.1%	17.7%	21.4%	19.5%	19.8%
Operating Income Margin	14.6%	15.3%	13.2%	11.3%	15.2%	14.6%	15.4%
Net Income Margin	5.8%	7.3%	5.7%	4.8%	8.4%	6.7%	7.1%
Cash & Debt
Total Cash	736	846	392	322	484	345	1,114
Total Debt	12,778	12,067	11,116	11,822	11,975	11,194	11,176
Net Debt / (Cash)	12,042	11,221	10,725	11,501	11,491	10,849	10,062
Cash Flows
Net Cash from Operations	1,893	2,022	2,059	1,565	1,931	1,979	2,072
Free Cash from Operations	1,292	1,467	1,491	961	1,289	1,304	1,306
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	1,830	1,386	272	802	1,599	1,459	2,384

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	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
Filing Date	10/29/2025	8/5/2025	5/12/2025	2/13/2025	10/29/2024	8/6/2024	5/2/2024	2/14/2024	11/7/2023	8/3/2023	5/8/2023	2/22/2023
Key Financials Quarterly
Total Revenue	3,420	3,380	3,224	3,295	3,264	3,187	3,071	3,146	3,121	3,000	2,873	2,917
Ebitda	637	690	598	727	695	645	658	581	665	582	493	443
Operating Income	496	530	433	481	531	501	442	411	489	397	305	254
Net Income	150	199	163	259	215	223	240	151	247	179	116	68
EPS	2.09	2.62	2.05	3.18	2.56	2.56	2.73	1.67	2.70	1.96	1.28	0.76
Key Financials TTM
Total Revenue TTM	13,318	13,161	12,969	12,816	12,667	12,524	12,338	12,140	11,911	11,739	11,665	11,610
Ebitda TTM	2,651	2,709	2,664	2,725	2,579	2,548	2,486	2,321	2,183	2,020	2,040	2,056
Operating Income TTM	1,940	1,976	1,946	1,955	1,885	1,842	1,738	1,601	1,445	1,259	1,286	1,313
Net Income TTM	772	836	860	936	828	860	816	692	609	468	514	560
Growth Rates Quarterly
Total Revenue Growth	4.8%	6.1%	5.0%	4.7%	4.6%	6.2%	6.9%	7.8%	5.9%	2.5%	2.0%	-0.9%
EBITDA Growth	-8.4%	7.0%	-9.2%	25.2%	4.6%	10.7%	33.4%	31.2%	32.6%	-3.4%	-3.1%	-21.2%
Operating Income Growth	-6.7%	5.9%	-2.0%	17.1%	8.7%	26.2%	45.0%	61.4%	61.1%	-6.3%	-8.0%	-34.1%
Net Income Growth	-30.0%	-10.5%	-32.0%	72.1%	-13.0%	24.6%	107.4%	121.2%	134.1%	-20.5%	-28.7%	-63.7%
Margins Quarterly
EBITDA Margin	18.6%	20.4%	18.5%	22.1%	21.3%	20.2%	21.4%	18.5%	21.3%	19.4%	17.2%	15.2%
Operating Income Margin	14.5%	15.7%	13.4%	14.6%	16.3%	15.7%	14.4%	13.1%	15.7%	13.2%	10.6%	8.7%
Net Income Margin	4.4%	5.9%	5.1%	7.9%	6.6%	7.0%	7.8%	4.8%	7.9%	6.0%	4.0%	2.3%
Cash & Debt
Total Cash	736	739	512	846	1,092	437	356	392	461	340	367	322
Total Debt	12,778	12,815	12,320	12,067	12,198	11,676	11,841	11,116	11,129	11,478	11,509	11,822
Net Debt / (Cash)	12,042	12,076	11,808	11,221	11,106	11,239	11,486	10,725	10,668	11,138	11,142	11,501
Cash Flows Quarterly
FCF from Operations	842	324	180	548	810	799	-135	485	661	450	463	344
Cash Flows TTM
FCF from Operations TTM	1,893	1,862	2,337	2,022	1,960	1,810	1,462	2,059	1,918	1,967	1,705	1,565
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	470	452	542	365	408	362	251	231	-2	36	8	-42
Return on Invested Capital (ROIC) Quarterly
ROIC	12.8%	13.1%	11.9%	14.5%	15.2%	14.4%	12.7%	11.7%	14.3%	11.3%	8.3%	6.5%
Return on Invested Capital (ROIC) TTM
ROIC TTM	12.8%	13.1%	13.4%	14.2%	13.7%	13.3%	12.4%	11.6%	10.5%	8.7%	8.8%	8.7%

Segment Financials

Revenue by Segment

$ Mil	2024	2020
United States (US) dialysis	10,937	10,563
Other - Ancillary services	1,299	972
Elimination of intersegment revenues	-96	-146
Total	12,140	11,388

Operating Income by Segment

$ Mil	2024	2020
United States (US) dialysis	1,775	1,925
Other - Ancillary services	-9	-189
Corporate administrative support	-163	-92
Total	1,603	1,643

Price Behavior

Price Behavior

Market Price	$117.28
Market Cap ($ Bil)	8.5
First Trading Date	10/31/1995
Distance from 52W High	-33.9%
	50 Days	200 Days
DMA Price	$124.15	$136.86
DMA Trend	down	down
Distance from DMA	-5.5%	-14.3%
	3M	1YR
Volatility	26.3%	31.0%
Downside Capture	77.03	82.19
Upside Capture	-12.32	38.58
Correlation (SPY)	19.3%	31.8%

DVA Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.20	0.45	0.43	0.49	0.50	0.56
Up Beta	-1.14	-0.02	0.12	0.60	0.61	0.65
Down Beta	-0.94	0.78	0.74	0.75	0.20	0.29
Up Capture	79%	1%	-7%	8%	27%	35%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	11	20	29	63	126	402
Down Capture	65%	79%	78%	66%	87%	83%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	8	20	32	60	119	344

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of DVA With Other Asset Classes (Last 1Y)
	DVA	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-29.4%	5.8%	14.6%	57.6%	4.7%	-5.6%	-3.5%
Annualized Volatility	30.9%	17.3%	19.6%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	-1.11	0.16	0.57	2.22	0.10	-0.47	0.03
Correlation With Other Assets		49.8%	31.9%	-0.5%	2.3%	44.2%	5.8%

ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of DVA With Other Asset Classes (Last 5Y)
	DVA	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	1.4%	8.9%	15.1%	18.0%	11.7%	4.8%	40.5%
Annualized Volatility	34.2%	14.4%	17.1%	15.5%	18.8%	19.0%	49.0%
Sharpe Ratio	0.12	0.43	0.71	0.93	0.51	0.17	0.68
Correlation With Other Assets		31.2%	25.8%	4.5%	6.6%	26.0%	10.1%

Based On 10-Year Data

		Comparison of DVA With Other Asset Classes (Last 10Y)
	DVA	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	4.8%	9.7%	14.5%	14.2%	5.7%	5.3%	76.1%
Annualized Volatility	32.9%	16.7%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.23	0.48	0.69	0.79	0.25	0.23	0.94
Correlation With Other Assets		43.4%	39.2%	1.2%	13.5%	34.0%	10.5%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	7,283,314
Short Interest: % Change Since 10312025	10.4%
Average Daily Volume	988,541
Days-to-Cover Short Interest	7.37
Basic Shares Quantity	72,075,000
Short % of Basic Shares	10.1%

Returns Analyses

	Title
0	How Low Can DaVita Stock Really Go?
1	DVA YTD Stock Return Of -4.6% Outperforms CYH by 7.7% and Underperforms HCA by -8.9%
2	DaVita Stock Return Comparison
3	[10/13/2021] DaVita HealthCare Partners (DVA) Stock Price Forecast: AI Forecasts DVA Stock Price To Be Around $112.90 In A Month (Up 2.6%)
4	DaVita Total Shareholder Return (TSR): -34.4% in 2022 and -0.2% 3-yr returns (below peer average)

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10292025	10-Q 9/30/2025
6302025	8052025	10-Q 6/30/2025
3312025	5122025	10-Q 3/31/2025
12312024	2132025	10-K 12/31/2024
9302024	10292024	10-Q 9/30/2024
6302024	8062024	10-Q 6/30/2024
3312024	5022024	10-Q 3/31/2024
12312023	2142024	10-K 12/31/2023
9302023	11072023	10-Q 9/30/2023
6302023	8032023	10-Q 6/30/2023
3312023	5082023	10-Q 3/31/2023
12312022	2222023	10-K 12/31/2022
9302022	10312022	10-Q 9/30/2022
6302022	8012022	10-Q 6/30/2022
3312022	5052022	10-Q 3/31/2022
12312021	2112022	10-K 12/31/2021

Industry Resources

Health Care Resources

U.S. National Library of Medicine

Health Data Management

FDA Tracker

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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DaVita (DVA)

Market Price (12/5/2025): $117.31 | Market Cap: $8.5 BilSector: Health Care | Industry: Health Care Services

DaVita (DVA)

Market Price (12/5/2025): $117.31Market Cap: $8.5 BilSector: Health CareIndustry: Health Care Services

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Market Price (12/5/2025): $117.31 | Market Cap: $8.5 Bil
Sector: Health Care | Industry: Health Care Services

Market Price (12/5/2025): $117.31
Market Cap: $8.5 Bil
Sector: Health Care
Industry: Health Care Services