D

DAVITA INC.

DVA · CIK 0000927066

19 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$13.64B6.5%
FY2025
Net income (FY)
$746.8M20.2%
FY2025
Free cash flow (FY)
$1.31B10.6%
FY2025
Diluted EPS (FY)
$9.848.3%
FY2025
The story, charted

The shape of the business

FY2016–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$5B$10BFY2016 · Revenue $10.71B · Net income $879.9M · 0000927066-19-000025 · filed 2019-02-22FY16Revenue $10.71BNet income $879.9M0000927066-19-000025 · filed 2019-02-22FY2017 · Revenue $10.88B · Net income $663.6M · 0000927066-20-000014 · filed 2020-02-21FY17Revenue $10.88BNet income $663.6M0000927066-20-000014 · filed 2020-02-21FY2018 · Revenue $11.40B · Net income $159.4M · 0000927066-21-000008 · filed 2021-02-12FY18Revenue $11.40BNet income $159.4M0000927066-21-000008 · filed 2021-02-12FY2019 · Revenue $11.39B · Net income $811.0M · 0000927066-22-000012 · filed 2022-02-11FY19Revenue $11.39BNet income $811.0M0000927066-22-000012 · filed 2022-02-11FY2020 · Revenue $11.55B · Net income $773.6M · 0000927066-23-000011 · filed 2023-02-22FY20Revenue $11.55BNet income $773.6M0000927066-23-000011 · filed 2023-02-22FY2021 · Revenue $11.62B · Net income $978.5M · 0000927066-24-000013 · filed 2024-02-14FY21Revenue $11.62BNet income $978.5M0000927066-24-000013 · filed 2024-02-14FY2022 · Revenue $11.61B · Net income $560.4M · 0000927066-25-000012 · filed 2025-02-13FY22Revenue $11.61BNet income $560.4M0000927066-25-000012 · filed 2025-02-13FY2023 · Revenue $12.14B · Net income $691.5M · 0000927066-26-000012 · filed 2026-02-11FY23Revenue $12.14BNet income $691.5M0000927066-26-000012 · filed 2026-02-11FY2024 · Revenue $12.82B · Net income $936.3M · 0000927066-26-000012 · filed 2026-02-11FY24Revenue $12.82BNet income $936.3M0000927066-26-000012 · filed 2026-02-11FY2025 · Revenue $13.64B · Net income $746.8M · 0000927066-26-000012 · filed 2026-02-11FY25Revenue $13.64BNet income $746.8M0000927066-26-000012 · filed 2026-02-11FY25Revenue $13.64BNet income $746.8M0000927066-26-000012 · filed 2026-02-11FY17FY19FY21FY23FY25

revenue 1.3× since FY2016 · net margin 8.2% → 5.5%

MarginsNet marginFCF margin
0%5%10%FY2016 · Net margin 8.2% · FCF margin 10.7%FY16Net margin 8.2%FCF margin 10.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 6.1% · FCF margin 9.3%FY17Net margin 6.1%FCF margin 9.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 1.4% · FCF margin 6.9%FY18Net margin 1.4%FCF margin 6.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 7.1% · FCF margin 11.5%FY19Net margin 7.1%FCF margin 11.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 6.7% · FCF margin 11.3%FY20Net margin 6.7%FCF margin 11.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 8.4% · FCF margin 11.1%FY21Net margin 8.4%FCF margin 11.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 4.8% · FCF margin 8.3%FY22Net margin 4.8%FCF margin 8.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 5.7% · FCF margin 12.3%FY23Net margin 5.7%FCF margin 12.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 7.3% · FCF margin 11.4%FY24Net margin 7.3%FCF margin 11.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 5.5% · FCF margin 9.6%FY25Net margin 5.5%FCF margin 9.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 5.5%FCF margin 9.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’17’19’21’23’25

FY2025: net 5.5% · free cash flow 9.6% of revenue

Cash engineOperating cash flowFree cash flow
$0$1B$2BFY2007 · OCF $581.1M · FCF $308.9M · 0001193125-10-040773 · filed 2010-02-25FY07OCF $581.1MFCF $308.9M0001193125-10-040773 · filed 2010-02-25FY2008 · OCF $613.7M · FCF $295.7M · 0001193125-11-046882 · filed 2011-02-25FY08OCF $613.7MFCF $295.7M0001193125-11-046882 · filed 2011-02-25FY2009 · OCF $666.7M · FCF $392.1M · 0001193125-12-077942 · filed 2012-02-24FY09OCF $666.7MFCF $392.1M0001193125-12-077942 · filed 2012-02-24FY2010 · OCF $839.7M · FCF $566.1M · 0001193125-13-085450 · filed 2013-03-01FY10OCF $839.7MFCF $566.1M0001193125-13-085450 · filed 2013-03-01FY2011 · OCF $1.18B · FCF $779.9M · 0001193125-14-062565 · filed 2014-02-21FY11OCF $1.18BFCF $779.9M0001193125-14-062565 · filed 2014-02-21FY2012 · OCF $1.10B · FCF $550.7M · 0001564590-15-001035 · filed 2015-02-26FY12OCF $1.10BFCF $550.7M0001564590-15-001035 · filed 2015-02-26FY2013 · OCF $1.77B · FCF $1.16B · 0001564590-15-001035 · filed 2015-02-26FY13OCF $1.77BFCF $1.16B0001564590-15-001035 · filed 2015-02-26FY2014 · OCF $1.46B · FCF $818.1M · 0001564590-15-001035 · filed 2015-02-26FY14OCF $1.46BFCF $818.1M0001564590-15-001035 · filed 2015-02-26FY2015 · OCF $1.56B · FCF $849.2M · 0000927066-18-000030 · filed 2018-02-23FY15OCF $1.56BFCF $849.2M0000927066-18-000030 · filed 2018-02-23FY2016 · OCF $1.97B · FCF $1.14B · 0000927066-19-000025 · filed 2019-02-22FY16OCF $1.97BFCF $1.14B0000927066-19-000025 · filed 2019-02-22FY2017 · OCF $1.91B · FCF $1.01B · 0000927066-20-000014 · filed 2020-02-21FY17OCF $1.91BFCF $1.01B0000927066-20-000014 · filed 2020-02-21FY2018 · OCF $1.77B · FCF $784.5M · 0000927066-21-000008 · filed 2021-02-12FY18OCF $1.77BFCF $784.5M0000927066-21-000008 · filed 2021-02-12FY2019 · OCF $2.07B · FCF $1.31B · 0000927066-22-000012 · filed 2022-02-11FY19OCF $2.07BFCF $1.31B0000927066-22-000012 · filed 2022-02-11FY2020 · OCF $1.98B · FCF $1.30B · 0000927066-23-000011 · filed 2023-02-22FY20OCF $1.98BFCF $1.30B0000927066-23-000011 · filed 2023-02-22FY2021 · OCF $1.93B · FCF $1.29B · 0000927066-24-000013 · filed 2024-02-14FY21OCF $1.93BFCF $1.29B0000927066-24-000013 · filed 2024-02-14FY2022 · OCF $1.56B · FCF $961.1M · 0000927066-25-000012 · filed 2025-02-13FY22OCF $1.56BFCF $961.1M0000927066-25-000012 · filed 2025-02-13FY2023 · OCF $2.06B · FCF $1.49B · 0000927066-26-000012 · filed 2026-02-11FY23OCF $2.06BFCF $1.49B0000927066-26-000012 · filed 2026-02-11FY2024 · OCF $2.02B · FCF $1.47B · 0000927066-26-000012 · filed 2026-02-11FY24OCF $2.02BFCF $1.47B0000927066-26-000012 · filed 2026-02-11FY2025 · OCF $1.89B · FCF $1.31B · 0000927066-26-000012 · filed 2026-02-11FY25OCF $1.89BFCF $1.31B0000927066-26-000012 · filed 2026-02-11FY25OCF $1.89BFCF $1.31B0000927066-26-000012 · filed 2026-02-11’09’13’17’21’25

FY2025: $1.89B operating cash − $575.9M capex = $1.31B free cash flow

Returns on capitalReturn on equityReturn on assets
0%500%FY2008 · ROE 21.2% · ROA 5.1%FY08ROE 21.2%ROA 5.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2009 · ROE 19.8% · ROA 5.6%FY09ROE 19.8%ROA 5.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 20.5% · ROA 5.0%FY10ROE 20.5%ROA 5.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 22.3% · ROA 5.4%FY11ROE 22.3%ROA 5.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 14.2% · ROA 3.3%FY12ROE 14.2%ROA 3.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 14.3% · ROA 3.7%FY13ROE 14.3%ROA 3.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 14.0% · ROA 4.1%FY14ROE 14.0%ROA 4.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 5.5% · ROA 1.5%FY15ROE 5.5%ROA 1.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 18.9% · ROA 4.7%FY16ROE 18.9%ROA 4.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 14.1% · ROA 3.5%FY17ROE 14.1%ROA 3.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 4.3% · ROA 0.8%FY18ROE 4.3%ROA 0.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 38.0% · ROA 4.7%FY19ROE 38.0%ROA 4.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 55.9% · ROA 4.6%FY20ROE 55.9%ROA 4.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 129.5% · ROA 5.7%FY21ROE 129.5%ROA 5.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 78.7% · ROA 3.3%FY22ROE 78.7%ROA 3.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 65.5% · ROA 4.1%FY23ROE 65.5%ROA 4.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 773.1% · ROA 5.4%FY24ROE 773.1%ROA 5.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE -114.7% · ROA 4.3%FY25ROE -114.7%ROA 4.3%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE -114.7%ROA 4.3%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 21% (FY2008) → -115% (FY2025) · on assets 4.3%

Balance sheetLiabilitiesEquity
$0$5B$10B$15BFY2008 · Liabilities $5.17B · Equity $1.77BFY08Liabilities $5.17BEquity $1.77B0001193125-10-040773 · filed 2010-02-25FY2009 · Liabilities $5.03B · Equity $2.14BFY09Liabilities $5.03BEquity $2.14B0001193125-11-046882 · filed 2011-02-25FY2010 · Liabilities $5.69B · Equity $1.98BFY10Liabilities $5.69BEquity $1.98B0001193125-12-077942 · filed 2012-02-24FY2011 · Liabilities $6.16B · Equity $2.14BFY11Liabilities $6.16BEquity $2.14B0001193125-13-085450 · filed 2013-03-01FY2012 · Liabilities $11.52B · Equity $3.76BFY12Liabilities $11.52BEquity $3.76B0001193125-14-062565 · filed 2014-02-21FY2013 · Liabilities $11.80B · Equity $4.43BFY13Liabilities $11.80BEquity $4.43B0001564590-15-001035 · filed 2015-02-26FY2014 · Liabilities $11.43B · Equity $5.17BFY14Liabilities $11.43BEquity $5.17B0001564590-16-013587 · filed 2016-02-26FY2015 · Liabilities $12.57B · Equity $4.87BFY15Liabilities $12.57BEquity $4.87B0001564590-17-002409 · filed 2017-02-24FY2016 · Liabilities $12.93B · Equity $4.65BFY16Liabilities $12.93BEquity $4.65B0000927066-18-000030 · filed 2018-02-23FY2017 · Liabilities $13.08B · Equity $4.69BFY17Liabilities $13.08BEquity $4.69B0000927066-19-000025 · filed 2019-02-22FY2018 · Liabilities $14.08B · Equity $3.70BFY18Liabilities $14.08BEquity $3.70B0000927066-20-000014 · filed 2020-02-21FY2019 · Liabilities $13.81B · Equity $2.13BFY19Liabilities $13.81BEquity $2.13B0000927066-21-000008 · filed 2021-02-12FY2020 · Liabilities $14.09B · Equity $1.38BFY20Liabilities $14.09BEquity $1.38B0000927066-22-000012 · filed 2022-02-11FY2021 · Liabilities $14.75B · Equity $755.5MFY21Liabilities $14.75BEquity $755.5M0000927066-23-000011 · filed 2023-02-22FY2022 · Liabilities $14.70B · Equity $712.3MFY22Liabilities $14.70BEquity $712.3M0000927066-24-000013 · filed 2024-02-14FY2023 · Liabilities $14.15B · Equity $1.06BFY23Liabilities $14.15BEquity $1.06B0000927066-25-000012 · filed 2025-02-13FY2024 · Liabilities $15.19B · Equity $121.1MFY24Liabilities $15.19BEquity $121.1M0000927066-26-000012 · filed 2026-02-11FY2025 · Liabilities $16.32B · Equity −$651.1MFY25Liabilities $16.32BEquity −$651.1M0000927066-26-000012 · filed 2026-02-11FY25Liabilities $16.32BEquity −$651.1M0000927066-26-000012 · filed 2026-02-11’09’13’17’21’25

FY2025: $17.48B assets · $16.32B liabilities · −$651.1M equity

The receipts