Davita Inc (DVA) reported $13.6B in revenue for fiscal year 2025, up 6.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Strong cash-generating operations are funding large share repurchases, leaving equity depleted even while profits stay meaningful.
Across FY2023-FY2025, buybacks consumed$2.97B while free cash flow totaled$4.27B , meaning most internally generated cash was directed to shrinking the share count instead of reducing financial leverage. The result is a more levered per-share model: earnings are spread over fewer shares, but equity moved from$1.06B to-$651M and interest expense kept rising.
In FY2025, operating cash flow of
Near-term liquidity looks adequate with a current ratio of 1.3x, but that should not be confused with balance-sheet slack because the company is carrying substantial obligations against a very thin capital base. Cash was
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Davita Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Davita Inc has an operating margin of 15.0%, meaning the company retains $15 of operating profit per $100 of revenue. This strong profitability earns a score of 82/100, reflecting efficient cost management and pricing power. This is down from 16.3% the prior year.
Davita Inc's revenue grew 6.5% year-over-year to $13.6B, a solid pace of expansion. This earns a growth score of 54/100.
Davita Inc's current ratio of 1.29 indicates adequate short-term liquidity, earning a score of 33/100. The company can meet its near-term obligations, though with limited headroom.
Davita Inc converts 9.6% of revenue into free cash flow ($1.3B). This strong cash generation earns a score of 69/100.
Davita Inc scores 1.61, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Davita Inc passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Davita Inc generates $1.75 in operating cash flow ($1.9B OCF vs $1.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Davita Inc earns $3.79 in operating income for every $1 of interest expense ($2.0B vs $539.9M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Davita Inc generated $13.6B in revenue in fiscal year 2025. This represents an increase of 6.5% from the prior year.
Davita Inc's EBITDA was $2.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 2.0% from the prior year.
Davita Inc reported $1.1B in net income in fiscal year 2025. This represents a decrease of 13.8% from the prior year.
Davita Inc earned $9.84 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 8.3% from the prior year.
Cash & Balance Sheet
Davita Inc generated $1.3B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 10.6% from the prior year.
Davita Inc held $676.4M in cash against $10.2B in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Davita Inc's operating margin was 15.0% in fiscal year 2025, reflecting core business profitability. This is down 1.3 percentage points from the prior year.
Davita Inc's net profit margin was 7.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.9 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Davita Inc spent $1.3B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 5.6% from the prior year.
Davita Inc invested $575.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 3.7% from the prior year.
Not reported for fiscal year 2025.
DVA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.0B | $13.6B+6.5% | $12.8B+5.6% | $12.1B+4.6% | $11.6B-0.1% | $11.6B+0.6% | $11.6B+1.4% | $11.4B-0.1% | $11.4B+4.9% | $10.9B+1.6% | $10.7B | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $1.7B | $1.7B+8.8% | $1.5B+4.4% | $1.5B+8.8% | $1.4B+13.4% | $1.2B-4.2% | $1.2B+13.1% | $1.1B-2.8% | $1.1B+6.7% | $1.1B-0.8% | $1.1B+4.0% | $1.0B-18.3% | $1.3B+7.2% | $1.2B+32.2% | $889.9M+30.0% | $684.7M |
| Operating Income | $2.1B | $2.0B-2.2% | $2.1B+30.4% | $1.6B+19.7% | $1.3B-25.5% | $1.8B+6.1% | $1.7B+3.1% | $1.6B+7.7% | $1.5B-15.8% | $1.8B-10.7% | $2.0B+78.6% | $1.1B-37.4% | $1.8B+17.1% | $1.6B+19.5% | $1.3B+12.3% | $1.2B |
| Interest Expense | $554.2M | $539.9M+24.1% | $435.2M+16.4% | $374.0M+10.2% | $339.2M+27.0% | $267.0M-5.6% | $282.9M-32.6% | $419.6M-9.1% | $461.9M+13.7% | $406.3M+3.1% | $394.0M+1.1% | $389.8M+1.0% | $385.8M-3.8% | $401.1M+48.5% | $270.1M+18.6% | $227.7M |
| Income Tax | $303.3M | $293.1M+4.8% | $279.7M+27.0% | $220.1M+11.1% | $198.1M-35.4% | $306.7M-2.3% | $313.9M+12.3% | $279.6M+8.2% | $258.4M-20.2% | $323.9M-25.0% | $431.8M+108.1% | $207.5M-53.5% | $446.3M+17.1% | $381.0M+5.9% | $359.8M+10.6% | $325.3M |
| Net Income | $1.2B | $1.1B-13.8% | $1.3B+30.7% | $957.0M+22.4% | $781.6M-35.5% | $1.2B+56.6% | $773.6M-4.6% | $811.0M+408.8% | $159.4M-76.0% | $663.6M-24.6% | $879.9M+226.2% | $269.7M-62.7% | $723.1M+14.2% | $633.4M+18.2% | $536.0M+12.1% | $478.0M |
| EPS (Diluted) | — | $9.84-8.3% | $10.73+44.6% | $7.42+26.8% | $5.85-34.3% | $8.90+41.0% | $6.31+19.7% | $5.27+472.8% | $0.92-73.5% | $3.47-19.1% | $4.29+243.2% | $1.25-62.5% | $3.33+12.9% | $2.95 | $2.74+10.5% | $2.48 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
DVA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $17.5B+1.1% | $17.3B+2.3% | $16.9B-0.2% | $16.9B-1.1% | $17.1B+0.8% | $17.0B-1.9% | $17.3B-9.4% | $19.1B+0.7% | $19.0B+1.2% | $18.8B+1.3% | $18.5B+5.1% | $17.6B+3.0% | $17.1B+6.8% | $16.0B+79.9% | $8.9B |
| Current Assets | $4.1B+8.3% | $3.7B+19.4% | $3.1B-0.6% | $3.2B-0.4% | $3.2B+0.6% | $3.1B-14.7% | $3.7B-56.2% | $8.4B-4.0% | $8.8B+119.6% | $4.0B-11.3% | $4.5B+23.8% | $3.6B+4.7% | $3.5B+20.3% | $2.9B+25.9% | $2.3B |
| Cash & Equivalents | $676.4M-14.9% | $794.9M+109.2% | $380.1M+55.7% | $244.1M-47.2% | $461.9M+42.1% | $325.0M-70.5% | $1.1B+241.3% | $323.0M-36.4% | $508.2M-24.7% | $674.8M-45.8% | $1.2B+68.9% | $736.9M-22.1% | $946.2M+77.3% | $533.7M+35.6% | $393.8M |
| Inventory | $160.6M+19.4% | $134.6M-6.0% | $143.1M+31.1% | $109.1M+1.6% | $107.4M-3.8% | $111.6M+14.0% | $97.9M-8.8% | $107.4M-40.9% | $181.8M+13.3% | $160.4M-13.6% | $185.6M+36.4% | $136.1M+53.2% | $88.8M+13.7% | $78.1M+3.2% | $75.7M |
| Accounts Receivable | $2.4B+12.5% | $2.1B+8.1% | $2.0B-6.8% | $2.1B+8.9% | $2.0B+7.3% | $1.8B+1.6% | $1.8B-3.4% | $1.9B+8.4% | $1.7B+14.0% | $1.5B-12.8% | $1.7B+13.0% | $1.5B+2.7% | $1.5B+4.3% | $1.4B+19.2% | $1.2B |
| Goodwill | $7.5B+2.3% | $7.4B+3.7% | $7.1B+0.5% | $7.1B+0.4% | $7.0B+1.8% | $6.9B+1.9% | $6.8B-0.8% | $6.8B+3.5% | $6.6B+9.9% | $6.0B+2.0% | $5.9B-37.4% | $9.4B+2.2% | $9.2B+2.9% | $9.0B+81.0% | $4.9B |
| Total Liabilities | $16.3B+7.4% | $15.2B+7.4% | $14.2B-3.8% | $14.7B-0.3% | $14.8B+4.7% | $14.1B+2.0% | $13.8B-1.9% | $14.1B+7.6% | $13.1B+1.1% | $12.9B+2.9% | $12.6B+10.0% | $11.4B-3.1% | $11.8B+2.4% | $11.5B+87.0% | $6.2B |
| Current Liabilities | $3.1B+5.7% | $3.0B+12.5% | $2.6B+0.9% | $2.6B+9.2% | $2.4B-3.1% | $2.5B+4.4% | $2.4B-51.5% | $4.9B+59.5% | $3.1B+13.2% | $2.7B+13.0% | $2.4B+14.9% | $2.1B-15.2% | $2.5B+22.1% | $2.0B+73.1% | $1.2B |
| Long-Term Debt | $10.2B+10.8% | $9.2B+11.0% | $8.3B-4.9% | $8.7B-0.4% | $8.7B+10.3% | $7.9B-0.8% | $8.0B-2.4% | $8.2B-10.8% | $9.2B+2.4% | $8.9B-0.6% | $9.0B+8.5% | $8.3B+1.9% | $8.1B-2.2% | $8.3B+88.5% | $4.4B |
| Total Equity | -$651.1M-637.5% | $121.1M-88.5% | $1.1B+48.3% | $712.3M-5.7% | $755.5M-45.4% | $1.4B-35.1% | $2.1B-42.4% | $3.7B-21.0% | $4.7B+0.9% | $4.6B-4.6% | $4.9B-5.8% | $5.2B+16.7% | $4.4B+17.8% | $3.8B+75.8% | $2.1B |
| Retained Earnings | -$328.4M-121.4% | $1.5B+156.5% | $598.3M+242.9% | $174.5M-50.8% | $354.3M-58.4% | $852.5M-40.5% | $1.4B-47.8% | $2.7B-24.5% | $3.6B-2.1% | $3.7B-14.8% | $4.4B+6.6% | $4.1B+21.5% | $3.4B-9.9% | $3.7B+16.8% | $3.2B |
DVA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.2B | $1.9B-6.7% | $2.0B-1.8% | $2.1B+31.6% | $1.6B-19.0% | $1.9B-2.4% | $2.0B-4.5% | $2.1B+17.0% | $1.8B-7.4% | $1.9B-3.0% | $2.0B+26.6% | $1.6B+6.7% | $1.5B-17.7% | $1.8B+61.1% | $1.1B-6.7% | $1.2B |
| Capital Expenditures | $583.4M | $575.9M+3.7% | $555.4M-2.2% | $568.0M-5.9% | $603.4M-5.9% | $641.5M-4.9% | $674.5M-12.0% | $766.5M-22.3% | $987.1M+9.0% | $905.3M+9.2% | $829.1M+17.1% | $708.0M+10.4% | $641.3M+3.8% | $617.6M+12.3% | $550.1M+37.5% | $400.2M |
| Free Cash Flow | $1.6B | $1.3B-10.6% | $1.5B-1.6% | $1.5B+55.1% | $961.1M-25.5% | $1.3B-1.2% | $1.3B-0.1% | $1.3B+66.5% | $784.5M-22.2% | $1.0B-11.8% | $1.1B+34.6% | $849.2M+3.8% | $818.1M-29.2% | $1.2B+109.9% | $550.7M-29.4% | $779.9M |
| Investing Cash Flow | -$759.0M | -$654.9M+15.1% | -$771.4M0.0% | -$771.8M-22.4% | -$630.3M+19.7% | -$784.7M+4.9% | -$825.4M-127.6% | $3.0B+397.9% | -$1.0B+26.3% | -$1.4B-13.6% | -$1.2B-36.3% | -$881.8M+31.0% | -$1.3B-45.7% | -$876.9M+81.9% | -$4.8B-245.4% | -$1.4B |
| Financing Cash Flow | -$1.5B | -$1.4B-68.3% | -$816.9M+30.2% | -$1.2B-4.4% | -$1.1B-3.5% | -$1.1B+41.4% | -$1.8B+60.7% | -$4.7B-651.0% | -$625.4M+18.4% | -$766.3M+43.3% | -$1.4B-872.9% | -$139.0M+15.8% | -$165.0M+65.8% | -$483.0M-112.5% | $3.9B+1666.6% | -$247.2M |
| Dividends Paid | N/A | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $892.4M | $1.3B-5.6% | $1.4B+409.1% | $272.2M-66.1% | $802.2M-47.9% | $1.5B+5.5% | $1.5B-38.8% | $2.4B+105.2% | $1.2B+44.7% | $802.9M-26.9% | $1.1B+99.6% | $549.9M | N/A | N/A | N/A | $323.3M |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
DVA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 15.0%-1.3pp | 16.3%+3.1pp | 13.2%+1.7pp | 11.5%-3.9pp | 15.5%+0.8pp | 14.7%+0.2pp | 14.4%+1.1pp | 13.4%-3.3pp | 16.7%-2.3pp | 19.0% | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 7.9%-1.9pp | 9.8%+1.9pp | 7.9%+1.1pp | 6.7%-3.7pp | 10.4%+3.7pp | 6.7%-0.4pp | 7.1%+5.7pp | 1.4%-4.7pp | 6.1%-2.1pp | 8.2% | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | 1032.6%+942.0pp | 90.6%-19.1pp | 109.7%-50.7pp | 160.4%+104.5pp | 55.9%+17.9pp | 38.0%+33.7pp | 4.3%-9.8pp | 14.1%-4.8pp | 18.9%+13.4pp | 5.5%-8.4pp | 14.0%-0.3pp | 14.3%+0.1pp | 14.2%-8.1pp | 22.3% |
| Return on Assets | 6.2%-1.1pp | 7.2%+1.6pp | 5.7%+1.0pp | 4.6%-2.5pp | 7.1%+2.5pp | 4.5%-0.1pp | 4.7%+3.9pp | 0.8%-2.7pp | 3.5%-1.2pp | 4.7%+3.2pp | 1.5%-2.6pp | 4.1%+0.4pp | 3.7%+0.3pp | 3.4%-2.0pp | 5.4% |
| Current Ratio | 1.290.0x | 1.26+0.1x | 1.190.0x | 1.20-0.1x | 1.320.0x | 1.27-0.3x | 1.56-0.2x | 1.72-1.1x | 2.86+1.4x | 1.47-0.4x | 1.88+0.1x | 1.74+0.3x | 1.410.0x | 1.43-0.5x | 1.97 |
| Debt-to-Equity | N/A | 75.76+67.9x | 7.83-4.4x | 12.20+0.6x | 11.55+5.8x | 5.72+2.0x | 3.74+1.5x | 2.21+0.3x | 1.950.0x | 1.92+0.1x | 1.85+0.2x | 1.60-0.2x | 1.84-0.4x | 2.21+0.1x | 2.06 |
| FCF Margin | 9.6%-1.8pp | 11.4%-0.8pp | 12.3%+4.0pp | 8.3%-2.8pp | 11.1%-0.2pp | 11.3%-0.2pp | 11.5%+4.6pp | 6.9%-2.4pp | 9.3%-1.4pp | 10.7% | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin.
Note: Shareholder equity is negative (-$651.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Where Davita Inc Ranks
Frequently Asked Questions
What is Davita Inc's annual revenue?
Davita Inc (DVA) reported $13.6B in total revenue for fiscal year 2025. This represents a 6.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Davita Inc's revenue growing?
Davita Inc (DVA) revenue grew by 6.5% year-over-year, from $12.8B to $13.6B in fiscal year 2025.
Is Davita Inc profitable?
Yes, Davita Inc (DVA) reported a net income of $1.1B in fiscal year 2025, with a net profit margin of 7.9%.
What is Davita Inc's EBITDA?
Davita Inc (DVA) had EBITDA of $2.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Davita Inc have?
As of fiscal year 2025, Davita Inc (DVA) had $676.4M in cash and equivalents against $10.2B in long-term debt.
What is Davita Inc's operating margin?
Davita Inc (DVA) had an operating margin of 15.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Davita Inc's net profit margin?
Davita Inc (DVA) had a net profit margin of 7.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Davita Inc's free cash flow?
Davita Inc (DVA) generated $1.3B in free cash flow during fiscal year 2025. This represents a -10.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Davita Inc's operating cash flow?
Davita Inc (DVA) generated $1.9B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Davita Inc's total assets?
Davita Inc (DVA) had $17.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Davita Inc's capital expenditures?
Davita Inc (DVA) invested $575.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Davita Inc's current ratio?
Davita Inc (DVA) had a current ratio of 1.29 as of fiscal year 2025, which is considered adequate.
What is Davita Inc's return on assets (ROA)?
Davita Inc (DVA) had a return on assets of 6.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Davita Inc's debt-to-equity ratio negative or not reported?
Davita Inc (DVA) has negative shareholder equity of -$651.1M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Davita Inc's Altman Z-Score?
Davita Inc (DVA) has an Altman Z-Score of 1.61, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Davita Inc's Piotroski F-Score?
Davita Inc (DVA) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Davita Inc's earnings high quality?
Davita Inc (DVA) has an earnings quality ratio of 1.75x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Davita Inc cover its interest payments?
Davita Inc (DVA) has an interest coverage ratio of 3.79x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Davita Inc?
Davita Inc (DVA) scores 56 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.