DaVita

Health Care Health Care Services Denver, Colorado Last filing Feb 11, 2026 · FY2025

                    Revenue
                    FY2025
                
$13.6B
                    3y CAGR +5.5%
                    
                    P51
                    
                    +6.5%
                    
                    Net income
                    FY2025
                
$746.8M
                    Net margin +5.5%
                    
                    P27
                    
                    -20.2%
                    
                    Total assets
                    FY2025
                
$17.5B
                    ROA +4.3%
                    
                    P35
                    
                    +1.1%
                    
                    Operating cash flow
                    FY2025
                
$1.9B
                    FCF margin +9.6%
                    
                    P29
                    
                    -6.7%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

31 accounts · 10 years

Total assets $17.5B

Total liabilities $16.3B

Shareholders equity $-651.1M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	5.0%	6.2%	3.1%	2.1%	4.0%	2.8%	9.7%	2.8%	4.7%	8.5%
Short Term Investments	0.5%	0.7%	0.5%	1.1%	0.6%	0.5%	0.4%	0.3%	0.7%	3.9%
Accounts Receivable	17.7%	16.8%	16.4%	18.4%	16.8%	15.8%	15.8%	16.3%	15.8%	17.9%
Inventory	1.2%	1.0%	1.2%	0.9%	0.9%	1.0%	0.9%	0.9%	1.7%	1.5%
Prepaid Expenses	1.1%	1.0%	0.8%	0.7%	0.6%	0.7%	0.6%	1.0%	1.0%	1.2%
Total Current Assets	29.7%	29.2%	25.8%	27.2%	27.3%	27.3%	32.4%	73.9%	80.4%	37.2%
Property,Plant and Equipment	20.6%	22.9%	25.3%	28.0%	30.0%	30.5%	30.5%	29.8%	29.0%	29.7%
Operating Lease Assets	17.6%	18.7%	20.6%	23.0%	24.3%	24.8%	24.9%	—	—	—
Goodwill	55.3%	57.5%	58.6%	61.0%	60.6%	59.9%	59.6%	60.0%	60.8%	56.2%
Intangible Assets	1.6%	1.5%	1.7%	1.6%	1.5%	1.4%	1.2%	1.0%	1.0%	14.3%
Long Term Investments	1.2%	2.6%	4.5%	2.0%	2.1%	2.2%	2.1%	0.3%	0.3%	1.0%
Other Noncurrent Assets	1.8%	2.0%	2.2%	2.7%	1.2%	0.7%	1.0%	0.6%	0.4%	0.4%
Total Assets	128.1%	134.9%	139.2%	145.8%	147.4%	147.1%	152.0%	167.6%	174.2%	175.0%
Liabilities
Accounts Payable	5.1%	4.3%	4.2%	4.1%	3.5%	3.8%	3.5%	4.1%	4.7%	4.9%
Accrued Liabilities	6.0%	7.4%	7.3%	7.0%	6.9%	6.7%	7.5%	7.0%	7.0%	9.1%
Operating Lease Liabilities	3.1%	3.2%	3.2%	3.4%	3.4%	3.2%	3.0%	—	—	—
Other Current Liabilities	6.5%	7.3%	6.8%	6.9%	6.1%	7.0%	6.6%	5.2%	5.1%	8.0%
Total Current Liabilities	23.0%	23.2%	21.8%	22.6%	20.6%	21.4%	20.8%	42.9%	28.0%	25.2%
Operating Lease Liabilities Noncurrent	15.9%	17.2%	19.2%	21.6%	23.0%	23.7%	23.9%	—	—	—
Deferred Tax Liabilities	5.5%	5.2%	6.0%	6.7%	7.2%	7.0%	11.8%	6.8%	6.3%	12.8%
Other Noncurrent Liabilities	0.6%	1.3%	1.5%	0.9%	1.0%	1.3%	1.4%	4.0%	3.4%	4.3%
Total Liabilities	119.6%	118.6%	116.6%	126.6%	127.0%	122.0%	121.3%	123.4%	120.0%	120.6%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	0.0%	2.2%	4.2%	5.2%	4.7%	5.2%	6.6%	8.7%	9.6%	9.6%
Retained Earnings	-2.4%	12.0%	4.9%	1.5%	3.0%	7.4%	12.6%	24.1%	33.4%	34.7%
Treasury Stock	1.5%	10.8%	2.4%	6.8%	13.3%	12.5%	21.1%	10.1%	7.5%	10.0%
Accumulated Other Comprehensive Income	-0.9%	-2.4%	-0.4%	-0.6%	-1.2%	-0.6%	-0.4%	-0.3%	0.1%	-0.8%
Noncontrolling Interest	2.0%	2.1%	1.5%	1.4%	1.6%	1.6%	1.6%	1.8%	1.8%	1.9%
Total Stockholders Equity	-4.8%	0.9%	8.7%	6.1%	6.5%	12.0%	18.7%	32.5%	43.1%	43.4%
Total Liabilitiesand Equity	128.1%	134.9%	139.2%	145.8%	147.4%	147.1%	152.0%	167.6%	174.2%	175.0%

Income Statement

Revenue, expense, and profitability

17 accounts · 10 years

Revenue $13.6B

Operating income $2.0B

Net income $746.8M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	85.0%	83.7%	86.8%	88.5%	84.5%	85.3%	85.6%	86.6%	83.3%	81.0%
Expenses Selling,General and Administrative	12.3%	12.0%	12.1%	11.7%	10.3%	10.8%	9.7%	10.0%	9.8%	10.0%
Expenses Depreciation and Amortization	5.2%	5.6%	6.1%	6.2%	5.7%	5.3%	5.3%	5.0%	5.0%	4.6%
Expenses Share Based Compensation	1.0%	0.8%	0.9%	0.8%	0.9%	0.8%	0.6%	0.6%	0.3%	0.4%
Expenses Operating Expenses	85.0%	83.7%	86.8%	88.5%	84.5%	85.3%	85.6%	86.6%	83.3%	81.0%
Other Income Expense Operating Income	15.0%	16.3%	13.2%	11.5%	15.5%	14.7%	14.4%	13.4%	16.7%	19.0%
Other Income Expense Interest Expense	4.0%	3.4%	3.1%	2.9%	2.3%	2.4%	3.7%	4.1%	3.7%	3.7%
Other Income Expense Other Income/expense	-0.8%	-0.5%	-0.2%	-0.1%	0.1%	0.1%	0.3%	0.1%	0.2%	0.1%
Other Income Expense Income Before Tax	9.9%	11.9%	9.7%	8.3%	13.1%	11.4%	10.5%	9.2%	12.9%	15.2%
Income Tax Income Tax Expense	2.1%	2.2%	1.8%	1.7%	2.6%	2.7%	2.5%	2.3%	3.0%	4.0%
net Income net Income	5.5%	7.3%	5.7%	4.8%	8.4%	6.7%	7.1%	1.4%	6.1%	8.2%
net Income Comprehensive Income	6.9%	5.3%	5.8%	5.4%	7.8%	6.5%	7.0%	1.0%	7.0%	7.9%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	0.5%	0.7%	0.7%	0.8%	0.9%	1.0%	1.3%	1.5%	1.7%	1.9%
Earnings Per Share Weighted Average Shares Diluted	0.6%	0.7%	0.8%	0.8%	0.9%	1.1%	1.4%	1.5%	1.8%	1.9%

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 10 years

Operating cash flow $1.9B

Investing cash flow $-654.9M

Financing cash flow $-1.4B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	5.5%	7.3%	5.7%	4.8%	8.4%	6.7%	7.1%	1.4%	6.1%	8.2%
Operating Activities Depreciation and Amortization	5.2%	5.6%	6.1%	6.2%	5.7%	5.3%	5.3%	5.0%	5.0%	4.6%
Operating Activities Stock Based Compensation	1.0%	0.8%	0.9%	0.8%	0.9%	0.8%	0.6%	0.6%	0.3%	0.4%
Operating Activities Deferred Income Taxes	0.6%	-0.5%	-0.3%	-0.7%	0.5%	2.1%	0.4%	2.4%	-3.6%	0.5%
Operating Activities Changes In Operating Assets and Liabilities	2.6%	0.1%	-0.9%	2.0%	0.9%	0.6%	-0.1%	-0.2%	1.9%	1.3%
Operating Activities net Cash From Operating Activities	13.8%	15.8%	17.0%	13.5%	16.6%	17.1%	18.2%	15.5%	17.6%	18.4%
Investing Activities Capital Expenditures	4.2%	4.3%	4.7%	5.2%	5.5%	5.8%	6.7%	8.7%	8.3%	7.7%
Investing Activities Business Acquisitions	0.9%	1.9%	0.2%	0.5%	1.6%	1.6%	0.9%	1.6%	7.4%	5.3%
Investing Activities Proceeds From Sale of Investments	0.3%	0.2%	0.8%	0.6%	0.1%	0.0%	0.0%	0.1%	0.1%	0.2%
Investing Activities Other Investing Activities	0.2%	0.0%	2.3%	0.3%	0.1%	0.2%	0.1%	0.2%	0.0%	0.3%
Investing Activities net Cash From Investing Activities	-4.8%	-6.0%	-6.4%	-5.4%	-6.8%	-7.1%	26.3%	-8.8%	-12.5%	-11.2%
Financing Activities Proceeds From Debt	41.1%	51.7%	20.3%	20.6%	13.9%	35.0%	338.3%	525.5%	468.8%	485.6%
Financing Activities Repurchase of Common Stock	9.6%	10.8%	2.2%	6.9%	13.2%	12.6%	20.9%	10.2%	7.4%	10.3%
Financing Activities Dividends Paid	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—	—
Financing Activities Proceeds From Stock Issuance	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Financing Activities Tax Withholding On Stock Based Compensation	0.3%	1.0%	0.5%	0.5%	—	—	—	—	—	—
Financing Activities Other Financing Activities	0.0%	0.0%	0.4%	0.0%	0.0%	0.0%	-23.0%	-11.6%	-8.5%	-11.5%
Financing Activities net Cash From Financing Activities	-10.1%	-6.4%	-9.6%	-9.7%	-9.3%	-16.0%	-41.2%	-5.5%	-7.0%	-12.6%
Cash Reconciliation Effect of Exchange Rate On Cash	5.6%	6.9%	3.8%	2.9%	4.8%	4.3%	10.6%	3.6%	0.0%	0.0%
Cash Reconciliation net Change In Cash	-0.9%	3.2%	1.0%	-1.9%	0.5%	-6.1%	3.2%	1.2%	-2.0%	-5.4%
Cash Reconciliation Cash At Beginning of Period	5.6%	6.9%	3.8%	2.9%	4.8%	4.3%	10.6%	3.6%	4.8%	6.4%
Cash Reconciliation Cash At End of Period	5.6%	6.9%	3.8%	2.9%	4.8%	4.3%	10.6%	3.6%	4.8%	6.4%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+15.0%	+16.3%	+13.2%	+11.5%	+15.5%	+14.7%	+14.4%	+13.4%	+16.7%	+19.0%
Operating margin	+15.0%	+16.3%	+13.2%	+11.5%	+15.5%	+14.7%	+14.4%	+13.4%	+16.7%	+19.0%
Net margin	+5.5%	+7.3%	+5.7%	+4.8%	+8.4%	+6.7%	+7.1%	+1.4%	+6.1%	+8.2%
FCF margin	+9.6%	+11.4%	+12.3%	+8.3%	+11.1%	+11.3%	+11.5%	+6.9%	+9.3%	+10.7%
Growth
Revenue CAGR (3y)	+5.5%	+3.3%	+1.7%	+0.6%	+0.6%	+2.0%	+2.1%	—	—	—
Returns
ROE	-114.7%	+773.1%	+65.5%	+78.7%	+129.5%	+55.9%	+38.0%	+4.3%	+14.1%	+18.9%
ROA	+4.3%	+5.4%	+4.1%	+3.3%	+5.7%	+4.6%	+4.7%	+0.8%	+3.5%	+4.7%
ROIC	—	—	—	—	—	—	—	—	—	—
Liquidity
Current ratio	1.29x	1.26x	1.19x	1.20x	1.32x	1.27x	1.56x	1.72x	2.88x	1.48x
Quick ratio	0.98x	0.99x	0.90x	0.91x	1.01x	0.87x	1.22x	0.45x	0.73x	1.05x
Leverage
D/E	-25.07x	125.44x	13.40x	20.64x	19.52x	10.19x	6.47x	3.80x	2.78x	2.78x
Interest coverage	3.79x	4.80x	4.29x	3.95x	6.73x	5.99x	3.92x	3.30x	4.46x	5.15x
Efficiency
Asset turnover	0.78x	0.74x	0.72x	0.69x	0.68x	0.68x	0.66x	0.60x	0.57x	0.57x
Cash conversion cycle	+48d	+47d	+47d	+54d	+51d	+46d	+46d	+46d	+44d	+50d

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DaVita

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