Comprehensive Stock Comparison
Compare DaVita Inc. (DVA) vs Fresenius Medical Care AG & Co. KGaA (FMS) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | DVA | 6.5% revenue growth vs FMS's 1.5% |
| Value | DVA | PEG 1.52 vs 1.94 |
| Quality / Margins | DVA | 5.5% net margin vs FMS's 5.0% |
| Stability / Safety | DVA | Beta 0.35 vs FMS's 0.40 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | DVA | +5.7% vs FMS's +0.2% |
| Efficiency (ROA) | DVA | 4.3% ROA vs FMS's 3.2%, ROIC 10.5% vs 5.6% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
DaVita is a leading provider of kidney dialysis services for patients with chronic kidney failure. It generates revenue primarily from operating outpatient dialysis centers — which provide the bulk of its income — along with related lab services, home-based dialysis, and integrated care arrangements. The company's scale and network of over 2,800 U.S. centers create significant barriers to entry and operational efficiencies in a capital-intensive, regulated healthcare segment.
Fresenius Medical Care is a global leader in dialysis care and products for patients with chronic kidney failure. It generates revenue through two main segments: dialysis services (about 75% of revenue) from its network of outpatient clinics and hospital contracts, and dialysis products (about 25%) including machines, dialyzers, and related supplies. The company's key advantage is its vertically integrated model—combining clinics, products, and services—which creates patient stickiness and economies of scale in the capital-intensive dialysis industry.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
DVA leads in 3 of 6 categories (Financial Metrics, Total Returns). FMS leads in 1 (Valuation Metrics). 1 tied.
Financial Metrics (TTM)
FMS and DVA operate at a comparable scale, with $19.6B and $13.6B in trailing revenue. Profitability is closely matched — net margins range from 5.5% (DVA) to 5.0% (FMS). On growth, DVA holds the edge at +9.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | DVADaVita Inc. | FMSFresenius Medical… |
|---|---|---|
| RevenueTrailing 12 months | $13.6B | $19.6B |
| EBITDAEarnings before interest/tax | $2.7B | $3.3B |
| Net IncomeAfter-tax profit | $747M | $978M |
| Free Cash FlowCash after capex | $1.3B | $1.2B |
| Gross MarginGross profit ÷ Revenue | +30.9% | +25.6% |
| Operating MarginEBIT ÷ Revenue | +14.9% | +9.3% |
| Net MarginNet income ÷ Revenue | +5.5% | +5.0% |
| FCF MarginFCF ÷ Revenue | +9.6% | +6.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | +9.9% | -0.3% |
| EPS Growth (YoY)Latest quarter vs prior year | -20.7% | +8.5% |
Valuation Metrics
At 11.8x trailing earnings, FMS trades at a 31% valuation discount to DVA's 17.2x P/E. Adjusting for growth (PEG ratio), FMS offers better value at 2.32x vs DVA's 2.38x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | DVADaVita Inc. | FMSFresenius Medical… |
|---|---|---|
| Market CapShares × price | $10.4B | $13.6B |
| Enterprise ValueMkt cap + debt − cash | $24.7B | $24.4B |
| Trailing P/EPrice ÷ TTM EPS | 17.23x | 11.84x |
| Forward P/EPrice ÷ next-FY EPS est. | 11.02x | 9.89x |
| PEG RatioP/E ÷ EPS growth rate | 2.38x | 2.32x |
| EV / EBITDAEnterprise value multiple | 9.08x | 6.33x |
| Price / SalesMarket cap ÷ Revenue | 0.77x | 0.59x |
| Price / BookPrice ÷ Book value/share | 11.89x | 0.81x |
| Price / FCFMarket cap ÷ FCF | 7.97x | — |
Profitability & Efficiency
DVA delivers a 64.5% return on equity — every $100 of shareholder capital generates $64 in annual profit, vs $7 for FMS. FMS carries lower financial leverage with a 0.76x debt-to-equity ratio, signaling a more conservative balance sheet compared to DVA's 12.99x.
| Metric | DVADaVita Inc. | FMSFresenius Medical… |
|---|---|---|
| ROE (TTM)Return on equity | +64.5% | +6.8% |
| ROA (TTM)Return on assets | +4.3% | +3.2% |
| ROICReturn on invested capital | +10.5% | +5.6% |
| ROCEReturn on capital employed | +14.0% | +6.9% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 5 |
| Debt / EquityFinancial leverage | 12.99x | 0.76x |
| Net DebtTotal debt minus cash | $14.3B | $9.2B |
| Cash & Equiv.Liquid assets | $758M | $1.6B |
| Total DebtShort + long-term debt | $15.0B | $10.8B |
| Interest CoverageEBIT ÷ Interest expense | 3.51x | 6.84x |
Total Returns (with DRIP)
A $10,000 investment in DVA five years ago would be worth $15,197 today (with dividends reinvested), compared to $7,718 for FMS. Over the past 12 months, DVA leads with a +5.7% total return vs FMS's +0.2%. The 3-year compound annual growth rate (CAGR) favors DVA at 23.9% vs FMS's 9.1% — a key indicator of consistent wealth creation.
| Metric | DVADaVita Inc. | FMSFresenius Medical… |
|---|---|---|
| YTD ReturnYear-to-date | +36.5% | -0.2% |
| 1-Year ReturnPast 12 months | +5.7% | +0.2% |
| 3-Year ReturnCumulative with dividends | +90.0% | +29.7% |
| 5-Year ReturnCumulative with dividends | +52.0% | -22.8% |
| 10-Year ReturnCumulative with dividends | +136.9% | -28.5% |
| CAGR (3Y)Annualised 3-year return | +23.9% | +9.1% |
Risk & Volatility
DVA is the less volatile stock with a 0.35 beta — it tends to amplify market swings less than FMS's 0.40 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. DVA currently trades 99.0% from its 52-week high vs FMS's 77.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | DVADaVita Inc. | FMSFresenius Medical… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.35x | 0.40x |
| 52-Week HighHighest price in past year | $157.91 | $30.46 |
| 52-Week LowLowest price in past year | $101.00 | $20.95 |
| % of 52W HighCurrent price vs 52-week peak | +99.0% | +77.0% |
| RSI (14)Momentum oscillator 0–100 | 71.1 | 49.0 |
| Avg Volume (50D)Average daily shares traded | 961K | 518K |
Analyst Outlook
Wall Street rates DVA as "Hold" and FMS as "Hold". Consensus price targets imply 19.4% upside for FMS (target: $28) vs 7.9% for DVA (target: $169).
| Metric | DVADaVita Inc. | FMSFresenius Medical… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $168.67 | $28.00 |
| # AnalystsCovering analysts | 23 | 18 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 3 | 3 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +17.2% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| DaVita Inc. (DVA) | 100 | 135.22 | +35.2% |
| Fresenius Medical C… (FMS) | 100 | 56.36 | -43.6% |
DaVita Inc. (DVA) returned +52% over 5 years vs Fresenius Medical C… (FMS)'s -23%. A $10,000 investment in DVA 5 years ago would be worth $15,197 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| DaVita Inc. (DVA) | $14.7B | $13.6B | -7.5% |
| Fresenius Medical C… (FMS) | $17.0B | $19.6B | +15.3% |
DaVita Inc.'s revenue grew from $14.7B (2016) to $13.6B (2025) — a -0.9% CAGR. Fresenius Medical Care AG & Co. KGaA's revenue grew from $17.0B (2016) to $19.6B (2025) — a 1.6% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| DaVita Inc. (DVA) | 6.0% | 5.5% | -8.3% |
| Fresenius Medical C… (FMS) | 6.9% | 5.0% | -28.2% |
DaVita Inc.'s net margin went from 6% (2016) to 5% (2025). Fresenius Medical Care AG & Co. KGaA's net margin went from 7% (2016) to 5% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| DaVita Inc. (DVA) | 20.8 | 12.5 | -39.9% |
| Fresenius Medical C… (FMS) | 25.3 | 14.2 | -43.9% |
DaVita Inc. has traded in a 11x–21x P/E range over 9 years; current trailing P/E is ~17x. Fresenius Medical Care AG & Co. KGaA has traded in a 10x–39x P/E range over 9 years; current trailing P/E is ~12x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| DaVita Inc. (DVA) | 4.29 | 9.07 | +111.4% |
| Fresenius Medical C… (FMS) | 1.87 | 1.68 | -10.2% |
DaVita Inc.'s EPS grew from $4.29 (2016) to $9.07 (2025) — a 9% CAGR. Fresenius Medical Care AG & Co. KGaA's EPS grew from $1.87 (2016) to $1.68 (2025) — a -1% CAGR.
Chart 6Free Cash Flow — 5 Years
DaVita Inc. generated $1B FCF in 2025 (+2% vs 2021). Fresenius Medical Care AG & Co. KGaA generated $0M FCF in 2025 (-100% vs 2021).
DVA vs FMS: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is DVA or FMS a better buy right now?
Fresenius Medical Care AG & Co. KGaA (FMS) offers the better valuation at 11.8x trailing P/E (9.9x forward), making it the more compelling value choice. Analysts rate DaVita Inc. (DVA) a "Hold" — based on 23 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — DVA or FMS?
On trailing P/E, Fresenius Medical Care AG & Co. KGaA (FMS) is the cheapest at 11.8x versus DaVita Inc. at 17.2x. On forward P/E, Fresenius Medical Care AG & Co. KGaA is actually cheaper at 9.9x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: DaVita Inc. wins at 1.52x versus Fresenius Medical Care AG & Co. KGaA's 1.94x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — DVA or FMS?
Over the past 5 years, DaVita Inc. (DVA) delivered a total return of +52.0%, compared to -22.8% for Fresenius Medical Care AG & Co. KGaA (FMS). A $10,000 investment in DVA five years ago would be worth approximately $15K today (assuming dividends reinvested). Over 10 years, the gap is even starker: DVA returned +136.9% versus FMS's -28.5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — DVA or FMS?
By beta (market sensitivity over 5 years), DaVita Inc. (DVA) is the lower-risk stock at 0.35β versus Fresenius Medical Care AG & Co. KGaA's 0.40β — meaning FMS is approximately 16% more volatile than DVA relative to the S&P 500. On balance sheet safety, Fresenius Medical Care AG & Co. KGaA (FMS) carries a lower debt/equity ratio of 76% versus 13% for DaVita Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — DVA or FMS?
DaVita Inc. (DVA) is the more profitable company, earning 5.5% net margin versus 5.0% for Fresenius Medical Care AG & Co. KGaA — meaning it keeps 5.5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: DVA leads at 14.7% versus 9.3% for FMS. At the gross margin level — before operating expenses — DVA leads at 27.0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is DVA or FMS more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, DaVita Inc. (DVA) is the more undervalued stock at a PEG of 1.52x versus Fresenius Medical Care AG & Co. KGaA's 1.94x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Fresenius Medical Care AG & Co. KGaA (FMS) trades at 9.9x forward P/E versus 11.0x for DaVita Inc. — 1.1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for FMS: 19.4% to $28.00.
07Which pays a better dividend — DVA or FMS?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is DVA or FMS better for a retirement portfolio?
For long-horizon retirement investors, DaVita Inc. (DVA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.35), +136.9% 10Y return). Both have compounded well over 10 years (DVA: +136.9%, FMS: -28.5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between DVA and FMS?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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