Health Care · Health Care Services · US stock · price as of 16 Oct 2026
Key indicators
Price
$187.31
52-week range
$101.00 – $247.49
Market cap
$12.4B
P/E (trailing)
11.3×
EV / EBITDA
7.9×
Free-cash-flow yield
13.0%
Dividend yield
–
Revenue (last 12 months)
$14.0B
Revenue growth (3y a year)
5.5%
Operating margin
15.2%
Return on invested capital
18.1%
Net debt / EBITDA
3.6×
Fair value
Blended fair value$505.41 range $475 – $538
Versus priceData under review+0% to fair value
Peer multiples
$532.29
Fundamentals-adjusted multiple
$565.49
10-year DCF (market-scaled)
$418.44
Earnings power value (floor, not blended)
$142.71
Model uncertainty
Medium
X-Ray Score
66/ 100 · High confidence · ahead of 88% of sector peers
Valuation95
Growth61
Profitability62
Financial health42
Dividends–
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
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. Net debt to EBITDA compares borrowings, less cash, with annual operating earnings before interest, tax, depreciation and amortization.
StocksXray gives Davita Inc. an X-Ray Score of 66 out of 100 (high confidence), ahead of 88% of the S&P 500 stocks in its sector. Its strongest lens is valuation (95) and its weakest is financial health (42).
Our fair value blend is $505.41 (range $474.69 to $538.13). At $187.31 the stock trades 63% below that blend, so the label is "Data under review" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Davita Inc. (DVA)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$113.76
$74.67
$104.76
$149.55
$113.61
$187.31
Market cap
$12.5B
$7.2B
$9.8B
$13.1B
$8.6B
$12.4B
P/E
12.8×
12.8×
14.1×
13.9×
11.5×
11.3×
EV / revenue
1.8×
1.4×
1.5×
1.7×
1.4×
1.6×
EV / EBITDA
8.6×
7.7×
7.7×
7.8×
6.7×
8.0×
Price / free cash flow
9.7×
7.4×
6.5×
8.9×
6.6×
7.7×
Free-cash-flow yield
10.3%
13.4%
15.3%
11.2%
15.2%
13.0%
Price / book
16.6×
10.0×
9.2×
107.8×
–
–
Dividend yield
–
–
–
–
–
–
Fundamentals checklist ● 7 Good · ● 6 Average · ● 2 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−5.7%Good
Free-cash-flow yield13.0%Good
Risk models
Altman Z score1.3×Bad
Piotroski F-Score6 of 9Average
Growth
EPS growth (3y)18.9%Good
Free-cash-flow growth (3y)10.9%Average
Revenue growth (3y)5.5%Average
Growth consistency100%Good
Balance sheet
Current ratio1.5×Average
Net debt / EBITDA3.6×Bad
Interest coverno interest costGood
Valuation
Fair value vs price2.7×Good
EBIT / EV yield9.4%Good
Profitability
Return on invested capital18.1%Average
Operating margin15.2%Average
Red flags
Negative equity — Book equity is negative
XStocksXray
Davita Inc. (DVA)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
11,619
11,610
12,140
12,816
13,643
14,010
Gross profit
–
–
–
–
–
–
Operating income
1,797
1,339
1,603
2,090
2,044
2,128
Net income
1,212
782
957
1,251
1,079
1,179
Diluted EPS ($)
8.90
5.85
7.42
10.73
9.84
16.57
Free cash flow
1,289
961
1,491
1,467
1,311
1,610
Gross margin
–
–
–
–
–
–
Operating margin
15.5%
11.5%
13.2%
16.3%
15.0%
15.2%
Net margin
10.4%
6.7%
7.9%
9.8%
7.9%
8.4%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
17,121
16,928
16,894
17,285
17,480
17,709
Cash
462
244
380
795
676
669
Total debt
8,908
8,924
8,392
9,447
10,273
10,781
Equity
756
712
1,056
121
-651
-765
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.