30 years of historical data (1996–2025) · Healthcare · Medical - Care Facilities
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
DaVita Inc. trades at 17.2x earnings, 30% above its 5-year average of 13.3x, sitting at the 54th percentile of its historical range. Compared to the Healthcare sector median P/E of 23.7x, the stock trades at a discount of 27%. On a free-cash-flow basis, the stock trades at 8.0x P/FCF, roughly in line with the 5-year average of 8.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $10.4B | $10.0B | $13.1B | $9.8B | $7.2B | $12.5B | $14.4B | $11.5B | $8.9B | $13.8B | $13.2B |
| Enterprise Value | $24.7B | $24.3B | $24.3B | $20.5B | $18.7B | $24.0B | $25.3B | $21.6B | $18.6B | $22.7B | $21.4B |
| P/E Ratio → | 17.23 | 12.53 | 13.94 | 14.12 | 13.08 | 12.78 | 18.37 | 14.24 | 11.24 | 20.82 | 14.97 |
| P/S Ratio | 0.77 | 0.73 | 1.02 | 0.80 | 0.62 | 1.08 | 1.25 | 1.01 | 0.78 | 1.27 | 0.89 |
| P/B Ratio | 11.89 | 8.64 | 6.24 | 3.56 | 3.22 | 5.28 | 4.97 | 3.30 | 1.76 | 2.34 | 2.26 |
| P/FCF | 7.97 | 7.64 | 8.90 | 6.55 | 7.45 | 9.70 | 11.04 | 8.84 | 11.31 | 13.79 | 11.60 |
| P/OCF | 5.54 | 5.31 | 6.45 | 4.74 | 4.57 | 6.48 | 7.27 | 5.57 | 5.01 | 7.25 | 6.70 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
DaVita Inc.'s enterprise value stands at 9.1x EBITDA, roughly in line with its 5-year average of 9.0x. The Healthcare sector median is 13.8x, placing the stock at a 34% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.78 | 1.90 | 1.69 | 1.61 | 2.07 | 2.19 | 1.90 | 1.64 | 2.08 | 1.45 |
| EV / EBITDA | 9.08 | 8.91 | 8.64 | 8.73 | 9.04 | 9.69 | 10.87 | 9.57 | 8.81 | 9.55 | 8.41 |
| EV / EBIT | 12.31 | 12.61 | 12.16 | 13.01 | 14.16 | 13.32 | 15.57 | 13.19 | 12.14 | 12.38 | 10.48 |
| EV / FCF | — | 18.54 | 16.59 | 13.75 | 19.49 | 18.63 | 19.37 | 16.55 | 23.77 | 22.60 | 18.82 |
Margins and return-on-capital ratios measuring operating efficiency
DaVita Inc. earns an operating margin of 14.7%. Operating margins have expanded from 13.2% to 14.7% over the past 3 years, signaling improving operational efficiency. Return on equity of 46.0% is exceptionally high. ROIC of 10.5% represents solid returns on invested capital.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 27.0% | 27.0% | 32.9% | 31.5% | 29.3% | 31.4% | 30.8% | 30.5% | 28.1% | 29.8% | 22.2% |
| Operating Margin | 14.7% | 14.7% | 16.3% | 13.2% | 11.5% | 15.5% | 14.7% | 14.4% | 13.4% | 16.7% | 13.8% |
| Net Profit Margin | 5.5% | 5.5% | 7.3% | 5.7% | 4.8% | 8.4% | 6.7% | 7.1% | 1.4% | 6.1% | 6.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 46.0% | 46.0% | 38.7% | 27.8% | 24.4% | 37.1% | 24.2% | 19.0% | 2.9% | 11.3% | 14.9% |
| ROA | 4.3% | 4.3% | 5.5% | 4.1% | 3.3% | 5.7% | 4.5% | 4.5% | 0.8% | 3.5% | 4.7% |
| ROIC | 10.5% | 10.5% | 11.7% | 8.8% | 7.3% | 9.8% | 9.3% | 8.7% | 7.7% | 9.4% | 10.9% |
| ROCE | 14.0% | 14.0% | 14.6% | 11.2% | 9.2% | 12.3% | 11.5% | 11.3% | 10.1% | 11.3% | 12.6% |
Solvency and debt-coverage ratios — lower is generally safer
DaVita Inc. carries a Debt/EBITDA ratio of 5.5x, which is highly leveraged (78% above the sector average of 3.1x). Net debt stands at $14.3B ($15.0B total debt minus $758M cash). Interest coverage of 3.7x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 12.99 | 12.99 | 5.77 | 4.05 | 5.31 | 5.05 | 3.86 | 3.19 | 2.01 | 1.58 | 1.56 |
| Debt / EBITDA | 5.52 | 5.52 | 4.29 | 4.73 | 5.71 | 4.83 | 4.81 | 4.95 | 4.77 | 3.93 | 3.59 |
| Net Debt / Equity | — | 12.34 | 5.39 | 3.91 | 5.20 | 4.86 | 3.75 | 2.88 | 1.94 | 1.50 | 1.41 |
| Net Debt / EBITDA | 5.24 | 5.24 | 4.01 | 4.57 | 5.59 | 4.65 | 4.67 | 4.46 | 4.62 | 3.72 | 3.23 |
| Debt / FCF | — | 10.90 | 7.69 | 7.20 | 12.05 | 8.93 | 8.33 | 7.71 | 12.47 | 8.81 | 7.23 |
| Interest Coverage | 3.66 | 3.66 | 4.44 | 4.02 | 3.75 | 6.30 | 5.57 | 3.70 | 3.13 | 4.21 | 4.90 |
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.29x means DaVita Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.19x to 1.29x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.29 | 1.29 | 1.26 | 1.19 | 1.20 | 1.32 | 1.27 | 1.56 | 1.72 | 2.88 | 1.48 |
| Quick Ratio | 1.24 | 1.24 | 1.21 | 1.13 | 1.16 | 1.28 | 1.23 | 1.51 | 1.70 | 2.82 | 1.41 |
| Cash Ratio | 0.25 | 0.25 | 0.28 | 0.15 | 0.12 | 0.20 | 0.14 | 0.47 | 0.07 | 0.18 | 0.37 |
| Asset Turnover | — | 0.78 | 0.74 | 0.72 | 0.69 | 0.68 | 0.68 | 0.66 | 0.60 | 0.57 | 0.79 |
| Inventory Turnover | 62.00 | 62.00 | 63.90 | 58.14 | 75.23 | 74.21 | 71.57 | 80.80 | 76.32 | 42.02 | 45.08 |
| Days Sales Outstanding | — | 79.16 | 72.85 | 72.64 | 80.19 | 75.73 | 77.07 | 73.88 | 76.71 | 72.60 | 44.36 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
DaVita Inc. returns 17.2% to shareholders annually primarily through share buybacks. The earnings yield of 5.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.8% | 8.0% | 7.2% | 7.1% | 7.6% | 7.8% | 5.4% | 7.0% | 8.9% | 4.8% | 6.7% |
| FCF Yield | 12.5% | 13.1% | 11.2% | 15.3% | 13.4% | 10.3% | 9.1% | 11.3% | 8.8% | 7.2% | 8.6% |
| Buyback Yield | 17.2% | 17.9% | 10.6% | 2.8% | 11.2% | 12.8% | 10.1% | 20.7% | 13.1% | 5.8% | 8.3% |
| Total Shareholder Yield | 17.2% | 17.9% | 10.6% | 2.8% | 11.2% | 12.8% | 10.1% | 20.7% | 13.1% | 5.8% | 8.3% |
| Shares Outstanding | — | $88M | $87M | $93M | $96M | $110M | $123M | $154M | $172M | $191M | $205M |
Compare DVA with 3 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| DVAYou | $10B | 17.2 | 9.1 | 8.0 | 27.0% | 14.7% | 46.0% | 10.5% | 5.5 |
| FMS | $14B | 11.8 | 6.3 | — | 25.6% | 9.3% | 6.5% | 5.6% | 3.3 |
| TOI | $219M | -4.1 | — | — | 13.7% | -15.3% | -213.4% | -40.9% | — |
| CCM | $167M | -0.0 | — | — | -20.6% | -138.6% | -18.3% | -7.7% | — |
| Healthcare Median | — | 23.7 | 13.8 | 18.8 | 65.8% | -6.3% | -37.3% | -15.0% | 3.1 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonDaVita Inc.'s current P/E ratio is 17.2x. The historical average is 24.7x. This places it at the 54th percentile of its historical range.
DaVita Inc.'s current EV/EBITDA is 9.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.9x.
DaVita Inc.'s return on equity (ROE) is 46.0%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 22.1%.
Based on historical data, DaVita Inc. is trading at a P/E of 17.2x. This is at the 54th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
DaVita Inc. has 27.0% gross margin and 14.7% operating margin. Operating margin between 10-20% is typical for established companies.
DaVita Inc.'s Debt/EBITDA ratio is 5.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.