Davita Inc. (DVA)

Health Care · Health Care Services · US stock · S&P 500 component

$186.10 ▲ +9.29 (5.25%)

At close 22 Oct 2026 · USD · Volume 930,808

Compare with CVS

Interactive chart Research report Forecast ranges Pro workspace SEC filings Historical data

Fair valueUndervalued

$252 +35.6% to fair value

$126fair band $215–$306$379

Day's range

$176.38 – $186.91

52-week range

$101.00 – $247.49

Red flags⚠ Negative equity⚠ Negative equity⚠ Negative equity⚠ Negative equity⚠ Negative equity

About Davita Inc.

DaVita provides kidney care services, and is best known for operating a large network of outpatient dialysis centers in the United States and in several other countries. It treats patients with chronic kidney failure and offers related services such as home dialysis and integrated care. Revenue comes mainly from government programs like Medicare and from commercial insurers, so reimbursement rates matter greatly.

Revenue at Davita Inc. was $14.0 billion across the last twelve months. Across three years, sales expanded by 5.5% a year. Operating profit was 15.2% of revenue. It earned a return on invested capital of 18%. Debt after cash comes to 3.6 times EBITDA. There is no dividend. On the site's X-Ray Score, it rates 67 out of 100. Net debt to EBITDA compares borrowings, less cash, with annual operating earnings before interest, tax, depreciation and amortization.

DVA news

DaVita Shares Fall Sharply as Dialysis Reform Proposal Surfaces2 days ago

All DVA news →

Price chart

Interactive chart Historical data & CSV

52-wk range $101.00 – $247.49Volume 930,808Daily, split-adjusted

Vitals

Market cap$12.3B

52-week range$101.00 – $247.49

Volume (last day)930,808

P/E (TTM)11.2

EBIT / EV yield9.4%

Free-cash-flow yield13.1%

Dividend yieldNo dividend

Revenue (TTM)$14.0B

Net income (TTM)$1.2B

Operating margin15.2%

Return on capital18.1%

Debt incl. leases$10.8B

Cash & securities$689M

Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.

Fair value estimate

$252middle half of models $190 – $285

Undervalued +35.6% to fair value

Average of the 9 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.

Price $186

Undervalued < $215Fair $215 – $306Overvalued > $306

P/E multiple

$186

P/S multiple

$190

EV/EBITDA multiple

$239

EV/EBIT multiple

$245

EV/revenue multiple

$179

10-year DCF, EBITDA exit

$339

5-year DCF, EBITDA exit

$285

10-year DCF, revenue exit

$332

5-year DCF, revenue exit

$277

10-year DCF, growth exit · not used

$451

5-year DCF, growth exit · not used

$414

Earnings power value · not used

$467

Growth the price implies

0.0%/yr

A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.

What this means

Average business at a low price

Our models put fair value above today's price, but models can be wrong, so check the business first. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.

Before you invest · decision checklist

I understand how this company makes money Business quality is average or better ✓ 52 The price is not above fair value $252 fair value Debt looks manageable 3.6× EBITDA Revenue has been growing 5.5% a year Profits are backed by cash There are no red flags 5 raised I know what share of my savings this would be

Ticked boxes are filled in from our data; the rest are yours to answer.

The five-lens scan

Every score explained in one sentence, ranked against Health Care peers. Open a lens to see the numbers behind it.

Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data

Valuation Strong

95/100

Cheap against its sector on earnings and cash flow.

See the numbers →

EBIT / EV yield9.4%

Free-cash-flow yield13.1%

Fair value vs price1.4×

Growth Fair

61/100

Growing at a typical pace for its sector.

See the numbers →

Revenue growth (3y)5.5%

EPS growth (3y)18.9%

Growth consistency100%

Profitability Fair

62/100

Returns on capital are typical for its sector.

See the numbers →

Return on invested capital18.1%

Operating margin15.2%

Financial health Weak

42/100

Balance sheet is more stretched than most peers.

See the numbers →

Piotroski F-Score6 / 9

Net debt / EBITDA3.6×

Interest coverNo interest cost

Dividends None

–/100

Pays no dividend.

See the numbers →

Quarterly results: last 6 quarters

+5.0%

Mar '25

+6.1%

Jun '25

+4.8%

Sep '25

+9.9%

Dec '25

+6.0%

Mar '26

+5.2%

Jun '26

Revenue against the same quarter a year earlier. Latest quarter revenue $3.6B, diluted EPS $4.02.

Compare with peers

CI Cigna Group66 DGX Quest Diagnostics Inc56 CVS CVS HEALTH Corp52 LH Labcorp Holdings Inc.44

Other Health Care Services companies by X-Ray Score.

SWOT analysis: Davita Inc.

Strengthsinside the company

Return on invested capital is 18.1%, against a median of 9.1% for industry peers.
Operating margin of 15.2% is well above the 7.0% median of industry peers, a sign of pricing power or lower costs.
Earnings per share have compounded at 18.9% a year over three years.
Free cash flow equals 13.1% of the market value, which funds dividends, buybacks or debt paydown.

Weaknessesinside the company

Net debt is 3.6x EBITDA, above the 3x level that lenders usually watch.
Altman Z-score of 1.3 is in the zone linked with financial distress in past studies.

Opportunitiesvaluation and setting

Trades at 10.4x earnings, 59% below the 25.3x median of industry peers.
The price is 36% below our fair value estimate, with the gap larger than the margin we allow for error.

Threatsvaluation and setting

Heavy debt makes profits sensitive to interest rates and refinancing conditions.
Our checks raised: Negative equity; Negative equity.

Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.

Compare DVA with peers and sector

Medians of 4 Health Care Services peers and of 59 Health Care stocks in our universe. Largest peers (X-Ray Score): CVS 52, CI 66, DGX 56, LH 44.

Metric	DVA	Peers	Sector
X-Ray Score (out of 100)	67	54	49
Valuation	95	68	52
Growth	61	49	47
Profitability	62	47	49
Financial health	42	53	48
Dividends	–	59	51

Sector leaders: highest X-Ray Score in Health Care

DVA ranks #7 of 60 in Health Care and #1 of 5 in Health Care Services by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.

Company	X-Ray Score
#1 INCY Incyte Corp	80
#2 DXCM Dexcom Inc	78
#3 PODD Insulet Corp	72
#4 RMD Resmed Inc	70
#5 ZTS Zoetis Inc.	69
…
#7 DVA Davita Inc. (this stock)	67

Metric	DVA	Peers	Sector
P/E ratio	10.4x	25.3x	28.4x
PEG ratio	0.55	–	2.37
Price / book	–	2.5x	3.7x
Price / sales	0.9x	1.1x	3.8x
EV / EBITDA	8.0x	14.0x	17.9x
Price / free cash flow	7.6x	20.2x	22.4x
Dividend yield	–	1.7%	1.0%
Gap to our fair value	+35.6%	+6.8%	−1.8%

Metric	DVA	Peers	Sector
Price change, 1 month	+1.3%	+7.2%	+7.6%
Price change, 3 months	−19.8%	+13.9%	+14.9%
Price change, 6 months	+22.1%	+20.9%	+22.3%
Price change, 1 year	+44.2%	+18.3%	+20.7%

Metric	DVA	Peers	Sector
Market value	$12.3B	$55.3B	$50.8B
Revenue (last 12 months)	$14.0B	$148.4B	$14.7B
EBITDA (last 12 months)	$2.8B	$7.4B	$2.7B
Net income (last 12 months)	$1.2B	$3.0B	$1.4B
Free cash flow (last 12 months)	$1.6B	$1.3B	$2.3B

Metric	DVA	Peers	Sector
Revenue growth, last year	+6.5%	+9.5%	+7.2%
Revenue growth, 3 years a year	+5.5%	+6.6%	+5.6%
EPS growth, 3 years a year	+18.9%	−4.0%	+4.5%
Free cash flow growth, 3 years a year	+10.9%	−7.6%	+4.2%
Dividend growth	–	+5.3%	+4.2%

Metric	DVA	Peers	Sector
Gross margin	–	31.0%	65.0%
EBITDA margin	20.2%	9.9%	21.2%
Operating margin	15.2%	7.0%	16.9%
Net margin	8.4%	4.6%	12.3%
Return on invested capital	18.1%	9.1%	11.8%
Return on equity	–	12.9%	13.7%

Metric	DVA	Peers	Sector
Net debt / EBITDA	3.6x	2.4x	2.0x
Interest cover	50.0x	6.9x	9.3x
Current ratio	1.5x	1.2x	1.5x
Piotroski F-score (0 to 9)	6	8	6

Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.

Factor ratings for DVA

Each factor is rated by where DVA stands among the 60 Health Care stocks in our universe.

Rating against the sector

Goodthe top third of these stocks

Averagethe middle third of these stocks

Badthe bottom third of these stocks

"Beats" is the share of those stocks it is ahead of.

Against its own history

The last columns set today's figure against the company's own median of its last five financial years:

▲ Betterbetter than its usual level

▼ Worseworse than its usual level

≈ In linewithin its usual range

For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.

In total: 8 Good · 9 Average · 2 Bad of 19 Growth: 1 · 2 · 0 Profitability: 0 · 3 · 0 Financial strength: 1 · 2 · 1 Valuation: 4 · 0 · 0 Cash flow: 2 · 1 · 1 Efficiency: 0 · 1 · 0

Factor	DVA	Rating	Sector median	Own 5-year median	Against own history
Growth
Revenue growth, 3 years a year	+5.5%	Average beats 49%	+5.5%	–	–
Revenue growth, last year	+6.5%	Average beats 44%	+7.1%	+4.6%	≈ In line
EPS growth, 3 years a year	+18.9%	Good beats 75%	+5.0%	–	–
Profitability
Operating margin	15.2%	Average beats 48%	16.4%	15.0%	≈ In line
Net margin	8.4%	Average beats 37%	11.1%	7.9%	≈ In line
Return on invested capital	18.1%	Average beats 63%	12.2%	–	–
Financial strength
Net debt / EBITDA	3.6x	Bad beats 21%	2.0x	3.4x	≈ In line
Interest cover	50.0x	Good beats 82%	9.4x	4.3x	▲ Better
Current ratio	1.47	Average beats 48%	1.52	1.26	▲ Better
Piotroski F-score	6 / 9	Average beats 43%	6 / 9	–	–
Valuation
P/E ratio	10.4x	Good beats 97%	28.2x	10.2x	≈ In line
Price / sales	0.9x	Good beats 81%	3.7x	0.8x	≈ In line
EV / EBITDA	8.0x	Good beats 96%	17.6x	7.6x	≈ In line
Free cash flow yield	13.1%	Good beats 97%	4.4%	13.4%	≈ In line
Cash flow
Free cash flow margin	11.5%	Bad beats 31%	16.3%	11.1%	≈ In line
Cash from operations / net income	1.86	Good beats 75%	1.61	1.75	≈ In line
Free cash flow growth, 3 years a year	+10.9%	Average beats 64%	+4.3%	–	–
Accruals (lower is better)	−5.7%	Good beats 76%	−3.9%	–	–
Efficiency
Days sales outstanding	64 days	Average beats 47%	62 days	61 days	≈ In line

These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.

Fundamentals checklist

● 7 Good · ● 6 Average · ● 2 Bad

Cash quality

Earnings backed by cashGood

Free-cash-flow yieldGood

Risk models

Altman Z''Bad

Piotroski F-ScoreAverage

Growth

EPS growth (3y)Good

Free-cash-flow growth (3y)Average

Revenue growth (3y)Average

Growth consistencyGood

Balance sheet

Current ratioAverage

Net debt / EBITDABad

Interest coverGood

Valuation

Fair value vs priceGood

EBIT / EV yieldGood

Profitability

Return on invested capitalAverage

Operating marginAverage

Each check is graded against the company's sector, not a fixed number. Checklist score 67/100.

Financials

	FY21	FY22	FY23	FY24	FY25
Revenue	$11.6B	$11.6B	$12.1B	$12.8B	$13.6B
Operating income	$1.8B	$1.3B	$1.6B	$2.1B	$2.0B
Net income	$1.2B	$782M	$957M	$1.3B	$1.1B
Operating cash flow	$1.9B	$1.6B	$2.1B	$2.0B	$1.9B
Operating margin	15.5%	11.5%	13.2%	16.3%	15.0%
Free cash flow	$1.3B	$961M	$1.5B	$1.5B	$1.3B
Diluted EPS	$8.90	$5.85	$7.42	$10.73	$9.84

Fiscal years, from SEC filings.

Technical summary

Daily

Bullish

9 bullish · 4 neutral · 3 bearish

Weekly

Bullish

8 bullish · 1 neutral · 3 bearish

Monthly

Strongly bullish

7 bullish · 1 neutral · 0 bearish

Moving averages (daily)

SMA 10	182.6	Bullish
EMA 10	181.9	Bullish
SMA 20	180.0	Bullish
EMA 20	181.5	Bullish
SMA 50	180.4	Bullish
EMA 50	185.0	Bullish
SMA 100	198.6	Bearish
EMA 100	186.2	Bearish
SMA 200	174.7	Bullish
EMA 200	177.3	Bullish

Oscillators (daily)

RSI (14)	54.67	Neutral
MACD (12, 26)	-0.10	Bearish
Momentum (12)	3.16	Bullish
Stochastic %K (14)	74.64	Neutral
Williams %R (14)	-25.36	Neutral
CCI (20)	67.78	Neutral

Pivot points (classic, last session)

168.8

172.6

179.4

Pivot

183.1

189.9

193.7

200.4

Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.

ETFs that hold DVA

ETF	Share of the fund
OMAH VistaShares Target 15 Berkshire Select...	5.19%
WTV WisdomTree U.S. Quality Shareholder Yi...	1.64%
IHF iShares U.S. Healthcare Providers	1.07%
RSP Invesco S&P 500 Equal Weight	0.23%
DFAS DFA Investment Dimensions Group Inc.	0.20%
VBR Vanguard Small-Cap Value	0.15%
IYH iShares U.S. Healthcare	0.13%
XLV Health Care Select Sector SPDR	0.12%

The eight funds with the largest weight in DVA among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.