DaVita Inc. (DVA) Key Metrics
DVA valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $11.95B
- Enterprise value
- $24.40B
- P/E (TTM)
- 15.8 10-yr median 14.2
- Forward P/E
- 10.0
- PEG ratio
- 0.45
- Price / sales
- 0.9 10-yr median 1.0
- Price / book
- 21.6 10-yr median 3.4
- EV / EBITDA
- 8.8 10-yr median 8.9
- Dividend yield
- —
- Beta
- 0.80
DVA key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsDVA valuation Price multiples at each fiscal year-end price.
DVA returns How much profit the business earns on the capital it uses.
DVA per-share figures Results divided by the shares outstanding at year-end.
DVA financial health Debt, liquidity and how easily interest is covered.
DVA efficiency & capital use Working capital cycle and where the cash goes.
DVA valuation history
DVA returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
DVA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
DVA cash returned to shareholders
DVA price vs earnings per share
DVA key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $10.01B | $13.05B | $9.76B | $7.16B | $12.51B | $14.40B | $11.54B | $8.87B | $13.82B | $13.15B |
| Enterprise value | $22.10B | $24.27B | $20.49B | $18.66B | $24.00B | $25.61B | $21.95B | $18.65B | $22.61B | $21.04B |
| P/E ratio | 13.4 | 13.9 | 14.1 | 12.8 | 12.8 | 18.6 | 14.2 | 55.6 | 20.8 | 15.0 |
| Price / sales | 0.7 | 1.0 | 0.8 | 0.6 | 1.1 | 1.2 | 1.0 | 0.8 | 1.3 | 0.9 |
| Price / book | 8.6 | 6.2 | 3.6 | 3.2 | 5.3 | 5.0 | 3.3 | 1.8 | 2.3 | 2.3 |
| Price / free cash flow | 7.6 | 8.9 | 6.5 | 7.4 | 9.7 | 11.0 | 8.8 | 11.3 | 13.8 | 11.6 |
| Price / operating cash flow | 5.3 | 6.5 | 4.7 | 4.6 | 6.5 | 7.3 | 5.6 | 5.0 | 7.2 | 6.7 |
| EV / sales | 1.6 | 1.9 | 1.7 | 1.6 | 2.1 | 2.2 | 1.9 | 1.6 | 2.1 | 1.4 |
| EV / EBITDA | 8.4 | 8.9 | 8.8 | 9.1 | 9.7 | 11.4 | 9.7 | 8.8 | 8.7 | 7.6 |
| EV / free cash flow | 16.9 | 16.6 | 13.7 | 19.4 | 18.6 | 19.6 | 16.8 | 23.8 | 22.6 | 18.6 |
| Earnings yield | 7.5% | 7.2% | 7.1% | 7.8% | 7.8% | 5.4% | 7.0% | 1.8% | 4.8% | 6.7% |
| Free cash flow yield | 13.1% | 11.2% | 15.3% | 13.4% | 10.3% | 9.1% | 11.3% | 8.8% | 7.2% | 8.6% |
| Dividend yield | — | — | — | 3.7% | 2.0% | 1.8% | 0.1% | 2.2% | 1.5% | 1.5% |
| Shareholder yield (dividends + buybacks) | 17.9% | 10.6% | 2.8% | 15.0% | 14.7% | 11.9% | 20.8% | 15.3% | 7.3% | 9.8% |
| Share price at fiscal year-end | $113.61 | $149.55 | $104.76 | $74.67 | $113.76 | $117.40 | $75.03 | $51.46 | $72.25 | $64.20 |
| Per share | ||||||||||
| Revenue per share | $154.86 | $146.84 | $130.28 | $121.15 | $105.68 | $94.20 | $74.04 | $66.17 | $56.84 | $71.96 |
| Earnings per share | $8.48 | $10.73 | $7.42 | $5.85 | $8.90 | $6.31 | $5.27 | $0.92 | $3.47 | $4.29 |
| Operating cash flow per share | $21.41 | $23.17 | $22.10 | $16.33 | $17.56 | $16.14 | $13.47 | $10.28 | $9.97 | $9.58 |
| Free cash flow per share | $14.88 | $16.80 | $16.00 | $10.03 | $11.73 | $10.64 | $8.49 | $4.55 | $5.24 | $5.54 |
| Cash per share | $8.88 | $9.69 | $4.20 | $3.36 | $4.40 | $2.81 | $7.24 | $1.89 | $2.88 | $5.97 |
| Book value per share | $13.15 | $23.96 | $29.44 | $23.22 | $21.56 | $23.62 | $22.75 | $29.20 | $30.82 | $28.42 |
| Tangible book value per share | −$75.01 | −$62.81 | −$49.07 | −$52.53 | −$44.14 | −$34.16 | −$22.26 | −$11.18 | −$4.32 | −$24.95 |
| Dividends per share | — | — | — | $2.80 | $2.22 | $2.06 | $0.07 | $1.14 | $1.11 | $0.94 |
| Capex per share | $6.54 | $6.36 | $6.10 | $6.30 | $5.83 | $5.50 | $4.98 | $5.73 | $4.73 | $4.05 |
| Debt per share | $146.13 | $138.26 | $119.30 | $123.36 | $108.92 | $94.30 | $74.90 | $58.61 | $48.79 | $44.47 |
| Shares outstanding | 88.1M | 87.3M | 93.2M | 95.8M | 109.9M | 122.6M | 153.8M | 172.4M | 191.3M | 204.9M |
| Change in shares outstanding | +0.9% | −6.3% | −2.8% | −12.8% | −10.3% | −20.3% | −10.8% | −9.9% | −6.6% | −5.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 46.0% | 38.7% | 27.8% | 24.4% | 37.1% | 24.2% | 19.0% | 2.9% | 11.3% | 14.9% |
| Return on invested capital (ROIC) | 11.8% | 12.8% | 9.6% | 7.7% | 10.3% | 9.2% | 8.8% | 7.8% | 9.8% | 10.5% |
| Return on assets (ROA) | 4.3% | 5.5% | 4.1% | 3.3% | 5.7% | 4.5% | 4.5% | 0.8% | 3.5% | 4.7% |
| Return on tangible assets | 7.7% | 9.6% | 7.2% | 5.8% | 9.9% | 7.8% | 7.8% | 1.3% | 5.4% | 11.3% |
| Free cash flow margin | 9.6% | 11.4% | 12.3% | 8.3% | 11.1% | 11.3% | 11.5% | 6.9% | 9.2% | 7.7% |
| Income quality (OCF / net income) | 2.53 | 2.16 | 2.98 | 2.79 | 1.97 | 2.56 | 2.56 | 11.11 | 2.87 | 2.23 |
| Financial health | ||||||||||
| Total debt | $12.87B | $12.07B | $11.12B | $11.82B | $11.98B | $11.56B | $11.52B | $10.10B | $9.34B | $9.11B |
| Cash & short-term investments | $782.0M | $846.0M | $391.7M | $321.8M | $484.2M | $345.1M | $1.11B | $326.0M | $551.8M | $1.22B |
| Net debt | $12.09B | $11.22B | $10.72B | $11.50B | $11.49B | $11.22B | $10.41B | $9.78B | $8.78B | $7.89B |
| Debt / equity | 11.11 | 5.77 | 4.05 | 5.31 | 5.05 | 3.99 | 3.29 | 2.01 | 1.58 | 1.56 |
| Debt / assets | 0.74 | 0.70 | 0.66 | 0.70 | 0.70 | 0.68 | 0.67 | 0.53 | 0.49 | 0.49 |
| Net debt / EBITDA | 4.58 | 4.12 | 4.62 | 5.59 | 4.63 | 4.98 | 4.62 | 4.60 | 3.37 | 2.86 |
| Current ratio | 1.29 | 1.26 | 1.19 | 1.20 | 1.32 | 1.27 | 1.56 | 1.72 | 2.88 | 1.48 |
| Quick ratio | 1.24 | 1.21 | 1.13 | 1.16 | 1.28 | 1.23 | 1.51 | 1.70 | 2.82 | 1.41 |
| Interest coverage | 3.7 | 4.4 | 4.0 | 3.8 | 6.3 | 5.6 | 3.7 | 3.1 | 4.2 | 4.9 |
| Working capital | $916.4M | $772.7M | $495.7M | $535.5M | $769.2M | $672.6M | $1.32B | $3.53B | $5.70B | $1.28B |
| Invested capital | $13.25B | $13.31B | $13.47B | $13.73B | $13.86B | $14.12B | $13.91B | $14.81B | $14.68B | $13.71B |
| Tangible asset value | −$6.61B | −$5.48B | −$4.57B | −$5.03B | −$4.85B | −$4.19B | −$3.42B | −$1.93B | −$826.7M | −$5.11B |
| Net current asset value | −$12.26B | −$11.45B | −$11.01B | −$11.55B | −$11.58B | −$10.94B | −$10.12B | −$5.65B | −$4.31B | −$8.94B |
| Graham number | $50.08 | $76.06 | $70.11 | $55.27 | $65.71 | $57.91 | $51.95 | $24.65 | $49.04 | $52.40 |
| Graham net-net per share | −$150.28 | −$141.89 | −$127.44 | −$129.54 | −$112.82 | −$96.73 | −$71.00 | −$69.04 | −$56.47 | −$47.96 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $267.9M | $244.0M | $253.1M | $11.4M | $196.4M | $211.5M | $192.4M |
| Share buybacks (net) | $1.79B | $1.39B | $272.2M | $802.2M | $1.60B | $1.46B | $2.38B | $1.16B | $802.9M | $1.10B |
| Dividend payout ratio | — | — | — | 47.8% | 24.9% | 32.7% | 1.4% | 123.2% | 31.9% | 21.9% |
| Dividends + buybacks / free cash flow | 136.8% | 94.5% | 18.3% | 111.3% | 142.9% | 131.3% | 183.4% | 173.1% | 101.2% | 113.7% |
| Capex / revenue | 4.2% | 4.3% | 4.7% | 5.2% | 5.5% | 5.8% | 6.7% | 8.7% | 8.3% | 5.6% |
| Capex / operating cash flow | 30.5% | 27.5% | 27.6% | 38.6% | 33.2% | 34.1% | 37.0% | 55.7% | 47.5% | 42.2% |
| Capex / depreciation | 0.81 | 0.77 | 0.76 | 0.82 | 0.94 | 1.07 | 1.25 | 1.67 | 1.16 | 1.15 |
| Stock-based compensation / revenue | 1.0% | 0.8% | 0.9% | 0.8% | 0.9% | 0.8% | 0.6% | 0.6% | 0.3% | 0.3% |
| SG&A / revenue | 12.3% | 12.0% | 12.1% | 11.7% | 10.3% | 10.8% | 9.7% | 10.0% | 9.8% | 10.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 73.4 | 70.4 | 74.7 | 78.0 | 76.2 | 75.0 | 75.4 | 72.6 | 75.8 | 56.7 |
| Days of inventory on hand | 5.4 | 5.9 | 5.5 | 4.8 | 5.0 | 4.8 | 4.7 | 6.4 | 8.3 | 8.6 |
| Days payables outstanding | 22.8 | 22.5 | 21.8 | 19.6 | 19.1 | 19.1 | 20.0 | 21.7 | 24.6 | 25.2 |
| Cash conversion cycle (days) | 56.1 | 53.8 | 58.4 | 63.2 | 62.0 | 60.6 | 60.1 | 57.3 | 59.5 | 40.0 |
| Receivables turnover | 4.97 | 5.18 | 4.89 | 4.68 | 4.79 | 4.87 | 4.84 | 5.03 | 4.81 | 6.44 |
| Payables turnover | 16.02 | 16.20 | 16.73 | 18.62 | 19.07 | 19.06 | 18.25 | 16.86 | 14.81 | 14.47 |
| Inventory turnover | 67.47 | 61.93 | 65.97 | 75.82 | 72.79 | 76.24 | 77.09 | 56.68 | 44.08 | 42.41 |
| Asset turnover | 0.78 | 0.75 | 0.72 | 0.68 | 0.68 | 0.67 | 0.63 | 0.60 | 0.58 | 0.79 |
| Average receivables | $2.74B | $2.47B | $2.48B | $2.48B | $2.42B | $2.37B | $2.35B | $2.27B | $2.26B | $2.29B |
| Average payables | $621.7M | $530.9M | $497.2M | $440.9M | $418.2M | $419.0M | $433.6M | $486.2M | $515.8M | $513.7M |
| Average inventory | $147.6M | $138.8M | $126.1M | $108.3M | $109.5M | $104.8M | $102.7M | $144.6M | $173.3M | $175.2M |
| Intangibles / total assets | 44.4% | 43.8% | 43.3% | 42.9% | 42.2% | 41.7% | 40.0% | 36.4% | 35.5% | 58.3% |
Computed from DVA's annual financial statements (latest annual report filed February 11, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
DVA valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), DaVita traded at 13.4 times earnings, against a 10-year median of 14.2. Based on the latest twelve months, the trailing P/E is 15.8 and the forward P/E is 10.0. DaVita earned a return on equity of 46.0% and a return on invested capital of 11.8% in fiscal 2025. It ended the year with $12.9 billion of debt and $782.0 million in cash and short-term investments, net debt of $12.1 billion. It returned $1.8 billion to shareholders: $0 in dividends and $1.8 billion in share buybacks, 137% of free cash flow. The share count fell 57.0% from 204.9M to 88.1M over 9 years.
See the DVA income statement, the DVA chart for price history, or the DVA stock overview for the latest quote and news.
DVA key metrics FAQ
What is DaVita's P/E ratio?
DaVita's trailing P/E ratio is 15.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 10.0. At the end of fiscal 2025 it was 13.4, compared with a 10-year median of 14.2.
What is DaVita's EV/EBITDA?
DaVita's enterprise value was 8.4 times EBITDA at the end of fiscal 2025 (enterprise value $22.1 billion, EBITDA $2.6 billion); the current EV/EBITDA is 8.8.
What is DaVita's return on equity?
DaVita's return on equity (ROE) was 46.0% in fiscal 2025: net income of $746.8 million on average shareholders' equity of $1.6 billion.
What is DaVita's ROIC?
DaVita's return on invested capital was 11.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does DaVita have?
DaVita had total debt of $12.9 billion at the end of fiscal 2025, a debt-to-equity ratio of 11.11 and $12.1 billion of net debt (4.58 times EBITDA).
Does DaVita buy back its shares?
Yes. DaVita spent $1.8 billion on net share repurchases in fiscal 2025 Shares outstanding changed +0.9% over the year, to 88.1M..
What is DaVita's free cash flow yield?
DaVita generated $1.3 billion of free cash flow in fiscal 2025, a free cash flow yield of 13.1% on its market value at year-end ($10.0 billion).
What is DaVita's current ratio?
DaVita's current ratio was 1.29 at the end of fiscal 2025: current assets were 1.29 times current liabilities.