DVADaVita

Health care · Health Services · NYSE

Unless otherwise indicated in this report "DaVita", "the Company" "we", "us", "our" and other similar terms refer to DaVita Inc. and its consolidated subsidiaries. 10-K, Item 1

Headquarters: Denver, CO
CEO: Javier Rodriguez
Next results: around Feb 1, 2027

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DVA and 9 peers, year by year

The 9 Health care companies closest to DVA in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

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Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Gross margin	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
DVA DaVita	FY2025	$13.6B	+6.5%	-	15.0%	5.5%	9.6%	n/m	n/m
LH Labcorp	FY2025	$14.0B	+7.2%	28.8%	9.9%	6.3%	8.6%	10.2%	0.65
HSIC Henry Schein	FY2025	$13.2B	+4.0%	31.1%	5.0%	3.0%	4.3%	12.3%	0.96
VTRS Viatris	FY2025	$14.3B	−3.0%	35.1%	−18.6%	−24.6%	13.5%	−23.9%	0.98
VRTX Vertex Pharmaceuticals	FY2025	$12.0B	+8.9%	-	34.8%	32.9%	26.6%	21.2%	0.00
DGX Quest Diagnostics	FY2025	$11.0B	+11.8%	-	14.1%	9.0%	12.3%	13.8%	0.79
BAX Baxter International	FY2025	$11.2B	+5.7%	30.1%	−2.7%	−8.5%	3.0%	−15.6%	1.54
ISRG Intuitive Surgical	FY2025	$10.1B	+20.5%	66.0%	29.3%	28.4%	24.7%	16.0%	-
REGN Regeneron Pharmaceuticals	FY2025	$14.3B	+1.0%	-	24.9%	31.4%	28.4%	14.4%	0.06
IQV IQVIA	FY2025	$16.3B	+5.9%	-	13.4%	8.3%	12.6%	20.9%	2.42

Revenuepeer median $13.2B

Sales growthpeer median +5.9%

Gross marginpeer median 31.1%

ISRG 66.0%
VTRS 35.1%
HSIC 31.1%
BAX 30.1%
LH 28.8%
DVA -
VRTX -
DGX -
REGN -
IQV -

Operating marginpeer median 13.4%

Net marginpeer median 8.3%

FCF marginpeer median 12.6%

Return on equitypeer median 13.8%

Debt / equitypeer median 0.87

IQV 2.42
BAX 1.54
VTRS 0.98
HSIC 0.96
DGX 0.79
LH 0.65
REGN 0.06
VRTX 0.00
DVA n/m
ISRG -

RevenueSales growthGross marginOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2016 to FY2025

Revenue as reported in the 10-K.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
DVA Dec	$10.7B	$10.9B	$11.4B	$11.4B	$11.6B	$11.6B	$11.6B	$12.1B	$12.8B	$13.6B
LH Dec	$9.6B	$10.3B	$11.3B	$11.6B	$14.0B	$11.9B	-	$12.2B	$13.0B	$14.0B
HSIC Dec	$11.6B	$12.5B	$13.2B	$10.0B	$10.1B	$12.4B	$12.6B	$12.3B	$12.7B	$13.2B
VTRS Dec	-	-	$11.4B	$11.5B	$11.9B	$17.9B	$16.3B	$15.4B	$14.7B	$14.3B
VRTX Dec	$1.7B	$2.5B	$3.0B	$4.2B	$6.2B	$7.6B	$8.9B	$9.9B	$11.0B	$12.0B
DGX Dec	$7.2B	$7.4B	$7.5B	$7.7B	$9.4B	$10.8B	$9.9B	$9.3B	$9.9B	$11.0B
BAX Dec	$10.2B	$10.6B	$11.1B	$11.4B	$11.7B	$12.1B	$10.1B	$10.4B	$10.6B	$11.2B
ISRG Dec	$2.7B	$3.1B	$3.7B	$4.5B	$4.4B	$5.7B	$6.2B	$7.1B	$8.4B	$10.1B
REGN Dec	$4.9B	$5.9B	$5.1B	$6.6B	$8.5B	$16.1B	$12.2B	$13.1B	$14.2B	$14.3B
IQV Dec	$6.9B	$9.7B	$10.4B	$11.1B	$11.4B	$13.9B	$14.4B	$15.0B	$15.4B	$16.3B
Peer median	$7.0B	$8.6B	$10.4B	$10.0B	$10.1B	$12.1B	$11.1B	$12.2B	$12.7B	$13.2B

Sales growth, FY2016 to FY2025

Revenue against the fiscal year before.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
DVA Dec	+7.3%	+1.6%	+4.9%	−0.1%	+1.4%	+0.6%	−0.1%	+4.6%	+5.6%	+6.5%
LH Dec	+11.1%	+7.9%	+9.9%	+2.0%	+21.0%	−9.7%	-	+2.5%	+7.0%	+7.2%
HSIC Dec	+8.9%	+7.7%	+6.0%	+6.0%	+1.3%	+22.6%	+2.0%	−2.4%	+2.7%	+4.0%
VTRS Dec	-	-	-	+0.9%	+4.0%	+50.7%	−9.0%	−5.1%	−4.5%	−3.0%
VRTX Dec	+64.9%	+46.2%	+22.5%	+36.6%	+49.1%	+22.1%	+17.9%	+10.5%	+11.7%	+8.9%
DGX Dec	+0.3%	+2.6%	+1.7%	+2.6%	+22.1%	+14.3%	−8.4%	−6.4%	+6.7%	+11.8%
BAX Dec	+2.0%	+3.9%	+4.9%	+2.4%	+2.7%	+9.5%	+19.4%	+3.0%	+2.7%	+5.7%
ISRG Dec	+13.4%	+16.0%	+18.7%	+20.3%	−2.7%	+31.0%	+9.0%	+14.5%	+17.2%	+20.5%
REGN Dec	+18.4%	+20.8%	+14.3%	+27.4%	+29.6%	+89.1%	−24.3%	+7.8%	+8.3%	+1.0%
IQV Dec	+19.9%	+42.4%	+7.3%	+6.5%	+2.4%	+22.1%	+3.9%	+4.0%	+2.8%	+5.9%
Peer median	+12.2%	+11.9%	+8.6%	+6.0%	+4.0%	+22.1%	+2.9%	+3.0%	+6.7%	+5.9%

Gross margin, FY2016 to FY2025

Gross profit / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
DVA Dec	-	-	-	-	-	-	-	-	-	-
LH Dec	29.9%	30.0%	28.0%	28.1%	35.4%	31.3%	-	27.7%	27.9%	28.8%
HSIC Dec	27.9%	22.0%	22.0%	31.0%	27.8%	29.6%	30.3%	31.3%	31.7%	31.1%
VTRS Dec	-	-	35.0%	33.9%	31.8%	31.2%	40.0%	41.7%	38.2%	35.1%
VRTX Dec	-	-	-	-	-	-	-	-	-	-
DGX Dec	40.2%	36.2%	34.6%	34.8%	38.5%	-	-	-	-	-
BAX Dec	40.5%	42.3%	42.9%	41.9%	39.3%	38.9%	35.3%	40.1%	37.5%	30.1%
ISRG Dec	69.9%	70.2%	69.9%	69.4%	65.6%	69.3%	67.4%	66.4%	67.5%	66.0%
REGN Dec	-	-	-	-	-	-	-	-	-	-
IQV Dec	-	-	-	-	-	-	-	-	-	-
Peer median	40.2%	36.2%	34.8%	34.3%	37.0%	31.3%	37.6%	40.1%	37.5%	31.1%

Operating margin, FY2016 to FY2025

Operating income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
DVA Dec	19.0%	16.7%	13.4%	14.4%	14.7%	15.5%	11.5%	13.2%	16.3%	15.0%
LH Dec	13.3%	12.7%	11.7%	11.5%	17.5%	12.1%	-	6.0%	8.4%	9.9%
HSIC Dec	6.7%	5.4%	4.5%	7.2%	5.3%	6.9%	5.9%	5.0%	4.9%	5.0%
VTRS Dec	-	-	7.9%	6.2%	−1.8%	−0.2%	9.9%	5.0%	0.1%	−18.6%
VRTX Dec	0.6%	5.0%	20.8%	28.8%	46.0%	36.7%	48.2%	38.8%	−2.1%	34.8%
DGX Dec	17.7%	15.7%	14.6%	15.9%	20.9%	22.1%	14.4%	13.6%	13.6%	14.1%
BAX Dec	7.3%	12.2%	14.3%	15.6%	13.8%	11.1%	−28.3%	6.8%	0.1%	−2.7%
ISRG Dec	35.1%	33.9%	32.2%	30.7%	24.1%	31.9%	25.3%	24.8%	28.1%	29.3%
REGN Dec	27.4%	35.4%	49.3%	33.7%	42.1%	55.7%	38.9%	30.9%	28.1%	24.9%
IQV Dec	8.4%	6.8%	7.1%	7.0%	6.4%	10.0%	12.5%	13.2%	14.3%	13.4%
Peer median	10.8%	12.4%	14.3%	15.6%	17.5%	12.1%	13.5%	13.2%	8.4%	13.4%

Net margin, FY2016 to FY2025

Net income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
DVA Dec	8.2%	6.1%	1.4%	7.1%	6.7%	8.4%	4.8%	5.7%	7.3%	5.5%
LH Dec	7.5%	11.9%	7.8%	7.1%	11.1%	10.8%	-	3.4%	5.7%	6.3%
HSIC Dec	4.4%	3.3%	4.1%	7.0%	4.0%	5.1%	4.3%	3.4%	3.1%	3.0%
VTRS Dec	-	-	3.1%	0.1%	−5.6%	−7.1%	12.8%	0.4%	−4.3%	−24.6%
VRTX Dec	−6.6%	10.6%	68.8%	28.3%	43.7%	30.9%	37.2%	36.7%	−4.9%	32.9%
DGX Dec	8.9%	10.4%	9.8%	11.1%	15.2%	18.5%	9.6%	9.2%	8.8%	9.0%
BAX Dec	48.9%	5.7%	13.9%	8.8%	9.4%	10.6%	−24.2%	25.6%	−6.1%	−8.5%
ISRG Dec	27.3%	21.4%	30.3%	30.8%	24.3%	29.9%	21.3%	25.2%	27.8%	28.4%
REGN Dec	18.4%	20.4%	47.5%	32.3%	41.3%	50.2%	35.6%	30.1%	31.1%	31.4%
IQV Dec	1.0%	13.1%	2.5%	1.7%	2.5%	7.0%	7.6%	9.1%	8.9%	8.3%
Peer median	8.2%	11.2%	9.8%	8.8%	11.1%	10.8%	11.2%	9.2%	5.7%	8.3%

Free cash flow, FY2016 to FY2025

Cash from operations minus capital spending.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
DVA Dec	$1.1B	$1.0B	$784.5M	$1.3B	$1.3B	$1.3B	$961.1M	$1.5B	$1.5B	$1.3B
LH Dec	$918.2M	$1.2B	$925.6M	$1.0B	$1.8B	$1.5B	-	$874.1M	$1.1B	$1.2B
HSIC Dec	$572.4M	$483.1M	$613.4M	$577.9M	$550.0M	$631.0M	$506.0M	$353.0M	$700.0M	$573.0M
VTRS Dec	-	-	$2.1B	$1.6B	$988.8M	$2.6B	$2.6B	$2.5B	$2.0B	$1.9B
VRTX Dec	$179.5M	$745.5M	$1.2B	$1.5B	$3.0B	$2.4B	$3.9B	$3.3B	−$790.3M	$3.2B
DGX Dec	$823.0M	$923.0M	$817.0M	$843.0M	$1.6B	$1.8B	$1.3B	$864.0M	$909.0M	$1.4B
BAX Dec	$935.0M	$1.1B	$1.4B	$1.4B	$1.2B	$1.5B	$834.0M	$1.3B	$573.0M	$332.0M
ISRG Dec	$1.0B	$953.2M	$982.2M	$1.2B	$1.1B	$1.7B	$958.4M	$749.6M	$1.3B	$2.5B
REGN Dec	$974.0M	$1.0B	$1.8B	$2.0B	$2.0B	$6.5B	$4.4B	$3.9B	$3.7B	$4.1B
IQV Dec	$696.0M	$601.0M	$795.0M	$835.0M	$1.3B	$2.3B	$1.6B	$1.5B	$2.1B	$2.1B
Peer median	$870.6M	$938.1M	$982.2M	$1.2B	$1.3B	$1.8B	$1.4B	$1.3B	$1.1B	$1.9B

FCF margin, FY2016 to FY2025

Free cash flow / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
DVA Dec	10.7%	9.3%	6.9%	11.5%	11.3%	11.1%	8.3%	12.3%	11.4%	9.6%
LH Dec	9.6%	11.5%	8.2%	9.0%	12.5%	12.9%	-	7.2%	8.4%	8.6%
HSIC Dec	4.9%	3.9%	4.6%	5.8%	5.4%	5.1%	4.0%	2.9%	5.5%	4.3%
VTRS Dec	-	-	18.3%	13.8%	8.3%	14.3%	15.9%	16.4%	13.4%	13.5%
VRTX Dec	10.5%	30.0%	38.5%	35.9%	48.2%	31.8%	44.0%	33.8%	−7.2%	26.6%
DGX Dec	11.4%	12.5%	10.8%	10.9%	16.8%	17.0%	13.3%	9.3%	9.2%	12.3%
BAX Dec	9.2%	10.4%	12.2%	12.4%	9.9%	12.6%	8.3%	12.5%	5.4%	3.0%
ISRG Dec	38.2%	30.4%	26.4%	26.2%	26.2%	30.6%	15.4%	10.5%	15.6%	24.7%
REGN Dec	20.0%	17.6%	35.2%	30.5%	23.6%	40.6%	36.3%	29.5%	25.8%	28.4%
IQV Dec	10.1%	6.2%	7.6%	7.5%	11.8%	16.6%	11.0%	10.0%	13.7%	12.6%
Peer median	10.3%	12.0%	12.2%	12.4%	12.5%	16.6%	14.3%	10.5%	9.2%	12.6%

Return on equity, FY2016 to FY2025

Net income / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
DVA Dec	18.9%	14.1%	4.3%	38.0%	55.9%	129.5%	78.7%	65.5%	n/m	n/m
LH Dec	12.9%	18.0%	12.5%	10.8%	16.5%	12.7%	-	5.3%	9.3%	10.2%
HSIC Dec	18.1%	14.5%	18.1%	23.2%	12.1%	18.4%	15.6%	11.4%	11.5%	12.3%
VTRS Dec	-	-	2.9%	n/m	−2.9%	−6.2%	9.9%	0.3%	−3.4%	−23.9%
VRTX Dec	−9.7%	13.0%	47.3%	19.3%	31.2%	23.2%	23.9%	20.6%	−3.3%	21.2%
DGX Dec	13.9%	15.7%	14.1%	15.2%	21.2%	31.0%	16.1%	13.5%	12.9%	13.8%
BAX Dec	59.9%	6.6%	19.7%	12.7%	12.7%	14.1%	−41.7%	31.6%	−9.3%	−15.6%
ISRG Dec	12.8%	14.0%	16.9%	16.7%	10.9%	14.3%	12.0%	13.5%	14.1%	16.0%
REGN Dec	20.1%	19.5%	27.9%	19.1%	31.9%	43.0%	19.1%	15.2%	15.0%	14.4%
IQV Dec	0.8%	16.0%	3.9%	3.2%	4.6%	16.0%	18.9%	22.2%	22.6%	20.9%
Peer median	13.4%	15.1%	16.9%	16.0%	12.7%	16.0%	15.8%	13.5%	11.5%	13.8%

Debt / equity, FY2016 to FY2025

Total debt / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
DVA Dec	1.96	1.99	2.73	3.80	5.84	11.79	12.53	7.95	n/m	n/m
LH Dec	1.05	0.99	0.85	0.87	0.61	0.53	-	0.64	0.79	0.65
HSIC Dec	0.28	0.33	0.66	0.25	0.21	0.25	0.33	0.64	0.75	0.96
VTRS Dec	-	-	-	n/m	1.13	1.13	0.91	0.89	0.75	0.98
VRTX Dec	-	-	-	-	-	-	-	-	-	0.00
DGX Dec	0.81	0.77	0.75	0.85	0.59	0.62	0.68	0.75	0.92	0.79
BAX Dec	0.34	0.38	0.44	0.68	0.72	1.99	2.91	1.65	2.20	1.54
ISRG Dec	-	-	-	-	-	-	-	-	-	-
REGN Dec	-	-	-	0.00	0.18	0.11	0.09	0.08	0.07	0.06
IQV Dec	0.84	1.28	1.64	1.94	2.09	2.01	2.21	2.24	2.30	2.42
Peer median	0.81	0.77	0.75	0.76	0.61	0.62	0.80	0.75	0.79	0.87

EPS (diluted), FY2016 to FY2025

Diluted earnings per share, on today's share count after splits.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
DVA Dec	$4.29	$3.47	$0.92	$5.27	$6.31	$8.90	$5.85	$7.42	$10.73	$9.84
LH Dec	$6.82	$11.81	$8.61	$8.35	$15.88	$13.97	-	$4.77	$8.84	$10.46
HSIC Dec	$3.10	$2.57	$3.49	$4.65	$2.82	$4.45	$3.91	$3.16	$3.05	$3.27
VTRS Dec	-	-	$0.68	$0.03	−$1.11	−$1.05	$1.71	$0.05	−$0.53	−$3.00
VRTX Dec	−$0.46	$1.04	$8.09	$4.51	$10.29	$9.01	$12.82	$13.89	−$2.08	$15.32
DGX Dec	$4.51	$5.50	$5.29	$6.28	$10.47	$15.55	$7.97	$7.49	$7.69	$8.75
BAX Dec	$9.01	$1.08	$2.83	$1.93	$2.13	$2.53	−$4.83	$5.23	−$1.27	−$1.87
ISRG Dec	$2.09	$1.92	$3.16	$3.85	$2.94	$4.66	$3.65	$5.03	$6.42	$7.87
REGN Dec	$7.70	$10.34	$21.29	$18.46	$30.52	$71.97	$38.22	$34.77	$38.34	$41.48
IQV Dec	$0.47	$5.74	$1.24	$0.96	$1.43	$4.95	$5.72	$7.29	$7.49	$7.84
Peer median	$3.80	$4.04	$3.49	$4.51	$2.94	$4.95	$4.81	$5.23	$6.42	$7.87

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out DVA and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

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