Comprehensive Stock Comparison
Compare DaVita Inc. (DVA) vs HCA Healthcare, Inc. (HCA) 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 | HCA | 7.1% revenue growth vs DVA's 6.5% |
| Value | DVA | Lower P/E (11.0x vs 17.5x) |
| Quality / Margins | HCA | 9.0% net margin vs DVA's 5.5% |
| Stability / Safety | HCA | Beta 0.29 vs DVA's 0.35 |
| Dividends | HCA | 0.6% yield; 5-year raise streak; DVA pays no meaningful dividend |
| Momentum (1Y) | HCA | +73.9% vs DVA's +5.7% |
| Efficiency (ROA) | HCA | 11.2% ROA vs DVA's 4.3%, ROIC 19.9% vs 10.5% |
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.
HCA Healthcare is one of the largest for-profit hospital operators in the United States, providing comprehensive medical and surgical services through its network of acute care hospitals and outpatient facilities. It generates revenue primarily from patient services — including inpatient hospital stays, outpatient procedures, and emergency care — with the vast majority coming from government programs like Medicare and Medicaid alongside private insurance reimbursements. The company's scale advantage — operating over 180 hospitals concentrated in high-growth markets — creates significant purchasing power with suppliers and negotiating leverage with payers.
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
HCA leads in 4 of 6 categories (Financial Metrics, Profitability & Efficiency). DVA leads in 1 (Valuation Metrics). 1 tied.
Financial Metrics (TTM)
HCA is the larger business by revenue, generating $75.6B annually — 5.5x DVA's $13.6B. Profitability is closely matched — net margins range from 9.0% (HCA) to 5.5% (DVA). On growth, DVA holds the edge at +9.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | DVADaVita Inc. | HCAHCA Healthcare, I… |
|---|---|---|
| RevenueTrailing 12 months | $13.6B | $75.6B |
| EBITDAEarnings before interest/tax | $2.7B | $15.5B |
| Net IncomeAfter-tax profit | $747M | $6.8B |
| Free Cash FlowCash after capex | $1.3B | $7.7B |
| Gross MarginGross profit ÷ Revenue | +30.9% | +41.5% |
| Operating MarginEBIT ÷ Revenue | +14.9% | +15.8% |
| Net MarginNet income ÷ Revenue | +5.5% | +9.0% |
| FCF MarginFCF ÷ Revenue | +9.6% | +10.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +9.9% | +6.7% |
| EPS Growth (YoY)Latest quarter vs prior year | -20.7% | +44.6% |
Valuation Metrics
At 17.2x trailing earnings, DVA trades at a 8% valuation discount to HCA's 18.7x P/E. Adjusting for growth (PEG ratio), HCA offers better value at 0.89x vs DVA's 2.38x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | DVADaVita Inc. | HCAHCA Healthcare, I… |
|---|---|---|
| Market CapShares × price | $10.4B | $118.5B |
| Enterprise ValueMkt cap + debt − cash | $24.7B | $167.6B |
| Trailing P/EPrice ÷ TTM EPS | 17.23x | 18.66x |
| Forward P/EPrice ÷ next-FY EPS est. | 11.02x | 17.50x |
| PEG RatioP/E ÷ EPS growth rate | 2.38x | 0.89x |
| EV / EBITDAEnterprise value multiple | 9.08x | 10.82x |
| Price / SalesMarket cap ÷ Revenue | 0.77x | 1.57x |
| Price / BookPrice ÷ Book value/share | 11.89x | — |
| Price / FCFMarket cap ÷ FCF | 7.97x | 15.40x |
Profitability & Efficiency
On the Piotroski fundamental quality scale (0–9), HCA scores 7/9 vs DVA's 5/9, reflecting strong financial health.
| Metric | DVADaVita Inc. | HCAHCA Healthcare, I… |
|---|---|---|
| ROE (TTM)Return on equity | +64.5% | — |
| ROA (TTM)Return on assets | +4.3% | +11.2% |
| ROICReturn on invested capital | +10.5% | +19.9% |
| ROCEReturn on capital employed | +14.0% | +27.0% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 7 |
| Debt / EquityFinancial leverage | 12.99x | — |
| Net DebtTotal debt minus cash | $14.3B | $49.2B |
| Cash & Equiv.Liquid assets | $758M | $1.0B |
| Total DebtShort + long-term debt | $15.0B | $50.2B |
| Interest CoverageEBIT ÷ Interest expense | 3.51x | 5.37x |
Total Returns (with DRIP)
A $10,000 investment in HCA five years ago would be worth $30,878 today (with dividends reinvested), compared to $15,197 for DVA. Over the past 12 months, HCA leads with a +73.9% total return vs DVA's +5.7%. The 3-year compound annual growth rate (CAGR) favors HCA at 30.2% vs DVA's 23.9% — a key indicator of consistent wealth creation.
| Metric | DVADaVita Inc. | HCAHCA Healthcare, I… |
|---|---|---|
| YTD ReturnYear-to-date | +36.5% | +12.6% |
| 1-Year ReturnPast 12 months | +5.7% | +73.9% |
| 3-Year ReturnCumulative with dividends | +90.0% | +120.8% |
| 5-Year ReturnCumulative with dividends | +52.0% | +208.8% |
| 10-Year ReturnCumulative with dividends | +136.9% | +688.3% |
| CAGR (3Y)Annualised 3-year return | +23.9% | +30.2% |
Risk & Volatility
HCA is the less volatile stock with a 0.29 beta — it tends to amplify market swings less than DVA's 0.35 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 HCA's 95.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | DVADaVita Inc. | HCAHCA Healthcare, I… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.35x | 0.29x |
| 52-Week HighHighest price in past year | $157.91 | $552.90 |
| 52-Week LowLowest price in past year | $101.00 | $295.00 |
| % of 52W HighCurrent price vs 52-week peak | +99.0% | +95.8% |
| RSI (14)Momentum oscillator 0–100 | 71.1 | 56.0 |
| Avg Volume (50D)Average daily shares traded | 961K | 879K |
Analyst Outlook
Wall Street rates DVA as "Hold" and HCA as "Buy". Consensus price targets imply 7.9% upside for DVA (target: $169) vs -1.1% for HCA (target: $524). HCA is the only dividend payer here at 0.56% yield — a key consideration for income-focused portfolios.
| Metric | DVADaVita Inc. | HCAHCA Healthcare, I… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $168.67 | $523.92 |
| # AnalystsCovering analysts | 23 | 46 |
| Dividend YieldAnnual dividend ÷ price | — | +0.6% |
| Dividend StreakConsecutive years of raises | 3 | 5 |
| Dividend / ShareAnnual DPS | — | $2.94 |
| Buyback YieldShare repurchases ÷ mkt cap | +17.2% | +8.5% |
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% |
| HCA Healthcare, Inc. (HCA) | 100 | 367.9 | +267.9% |
HCA Healthcare, Inc. (HCA) returned +209% over 5 years vs DaVita Inc. (DVA)'s +52%. A $10,000 investment in HCA 5 years ago would be worth $30,878 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| DaVita Inc. (DVA) | $14.7B | $13.6B | -7.5% |
| HCA Healthcare, Inc. (HCA) | $41.5B | $75.6B | +82.2% |
DaVita Inc.'s revenue grew from $14.7B (2016) to $13.6B (2025) — a -0.9% CAGR. HCA Healthcare, Inc.'s revenue grew from $41.5B (2016) to $75.6B (2025) — a 6.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| DaVita Inc. (DVA) | 6.0% | 5.5% | -8.3% |
| HCA Healthcare, Inc. (HCA) | 7.0% | 9.0% | +28.8% |
DaVita Inc.'s net margin went from 6% (2016) to 5% (2025). HCA Healthcare, Inc.'s net margin went from 7% (2016) to 9% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| DaVita Inc. (DVA) | 20.8 | 12.5 | -39.9% |
| HCA Healthcare, Inc. (HCA) | 14.8 | 16.5 | +11.5% |
DaVita Inc. has traded in a 11x–21x P/E range over 9 years; current trailing P/E is ~17x. HCA Healthcare, Inc. has traded in a 12x–17x P/E range over 9 years; current trailing P/E is ~19x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| DaVita Inc. (DVA) | 4.29 | 9.07 | +111.4% |
| HCA Healthcare, Inc. (HCA) | 7.3 | 28.38 | +288.8% |
DaVita Inc.'s EPS grew from $4.29 (2016) to $9.07 (2025) — a 9% CAGR. HCA Healthcare, Inc.'s EPS grew from $7.30 (2016) to $28.38 (2025) — a 16% CAGR.
Chart 6Free Cash Flow — 5 Years
DaVita Inc. generated $1B FCF in 2025 (+2% vs 2021). HCA Healthcare, Inc. generated $8B FCF in 2025 (+43% vs 2021).
DVA vs HCA: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is DVA or HCA a better buy right now?
DaVita Inc. (DVA) offers the better valuation at 17.2x trailing P/E (11.0x forward), making it the more compelling value choice. Analysts rate HCA Healthcare, Inc. (HCA) a "Buy" — based on 46 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 HCA?
On trailing P/E, DaVita Inc. (DVA) is the cheapest at 17.2x versus HCA Healthcare, Inc. at 18.7x. On forward P/E, DaVita Inc. is actually cheaper at 11.0x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: HCA Healthcare, Inc. wins at 0.83x versus DaVita Inc.'s 1.52x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — DVA or HCA?
Over the past 5 years, HCA Healthcare, Inc. (HCA) delivered a total return of +208.8%, compared to +52.0% for DaVita Inc. (DVA). A $10,000 investment in HCA five years ago would be worth approximately $31K today (assuming dividends reinvested). Over 10 years, the gap is even starker: HCA returned +688.3% versus DVA's +136.9%. 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 HCA?
By beta (market sensitivity over 5 years), HCA Healthcare, Inc. (HCA) is the lower-risk stock at 0.29β versus DaVita Inc.'s 0.35β — meaning DVA is approximately 18% more volatile than HCA relative to the S&P 500.
05Which has better profit margins — DVA or HCA?
HCA Healthcare, Inc. (HCA) is the more profitable company, earning 9.0% net margin versus 5.5% for DaVita Inc. — meaning it keeps 9.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: HCA leads at 15.8% versus 14.7% for DVA. At the gross margin level — before operating expenses — HCA leads at 41.5%, 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 HCA 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, HCA Healthcare, Inc. (HCA) is the more undervalued stock at a PEG of 0.83x versus DaVita Inc.'s 1.52x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, DaVita Inc. (DVA) trades at 11.0x forward P/E versus 17.5x for HCA Healthcare, Inc. — 6.5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for DVA: 7.9% to $168.67.
07Which pays a better dividend — DVA or HCA?
In this comparison, HCA (0.6% yield) pays a dividend. DVA does not pay a meaningful dividend and should not be held primarily for income.
08Is DVA or HCA better for a retirement portfolio?
For long-horizon retirement investors, HCA Healthcare, Inc. (HCA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.29), 0.6% yield, +688.3% 10Y return). Both have compounded well over 10 years (HCA: +688.3%, DVA: +136.9%), 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 HCA?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: DVA is a mid-cap deep-value stock; HCA is a mid-cap quality compounder stock. HCA pays a dividend while DVA does not, making them suitable for different income and tax situations. 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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