DaVita Inc. (DVA) Financial Ratios
30 years of historical data (1996–2025) · Healthcare · Medical - Care Facilities
EV/EBITDA
↓
10.14
+13% vs avg
5yr avg: 9.00
30Y Low2.5·High18.0
P/FCF
↓
10.18
↑+27% vs avg
5yr avg: 8.05
30Y Low5.3·High23.9
P/B Ratio
↑
15.81
↑+194% vs avg
5yr avg: 5.39
30Y Low1.6·High23.1
ROE
↑
46.0%
↓+32% vs avg
5yr avg: 34.8%
30Y Low-34%·High81%
Debt/EBITDA
↑
5.52
+10% vs avg
5yr avg: 5.02
30Y Low0.2·High7.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
DVA Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
DaVita Inc. trades at 21.9x earnings, 66% above its 5-year average of 13.2x, sitting at the 79th percentile of its historical range. This is roughly in line with the Healthcare sector median P/E of 22.1x. On a free-cash-flow basis, the stock trades at 10.2x P/FCF, 27% above 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 | $13.3B | $10.0B | $13.1B | $9.8B | $7.2B | $12.5B | $14.4B | $11.5B | $8.9B | $13.8B | $13.2B |
| Enterprise Value | $27.6B | $24.3B | $24.3B | $20.5B | $18.7B | $24.0B | $25.3B | $21.6B | $18.6B | $22.7B | $21.4B |
| P/E Ratio → | 21.86 | 11.95 | 13.94 | 14.12 | 13.08 | 12.78 | 18.37 | 14.24 | 11.24 | 20.82 | 14.97 |
| P/S Ratio | 0.98 | 0.73 | 1.02 | 0.80 | 0.62 | 1.08 | 1.25 | 1.01 | 0.78 | 1.27 | 0.89 |
| P/B Ratio | 15.81 | 8.64 | 6.24 | 3.56 | 3.22 | 5.28 | 4.97 | 3.30 | 1.76 | 2.34 | 2.26 |
| P/FCF | 10.18 | 7.64 | 8.90 | 6.55 | 7.45 | 9.70 | 11.04 | 8.84 | 11.31 | 13.79 | 11.60 |
| P/OCF | 7.08 | 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
DVA EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
DaVita Inc.'s enterprise value stands at 10.1x EBITDA, 13% above its 5-year average of 9.0x. The Healthcare sector median is 14.2x, placing the stock at a 29% 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 | 10.14 | 8.91 | 8.64 | 8.73 | 9.04 | 9.69 | 10.87 | 9.57 | 8.81 | 9.55 | 8.41 |
| EV / EBIT | 13.75 | 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 |
DVA Profitability
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.
Margins
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% |
Return on Capital
| 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% |
DVA Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
DaVita Inc. carries a Debt/EBITDA ratio of 5.5x, which is highly leveraged (72% above the sector average of 3.2x). Net debt stands at $14.3B ($15.0B total debt minus $758M cash). Interest coverage of 3.5x 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 | 3.51 | 3.51 | 4.25 | 3.95 | 3.71 | 6.32 | 5.33 | 3.69 | 3.15 | 4.25 | 4.92 |
DVA Liquidity & Efficiency
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 |
DVA Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
DaVita Inc. returns 13.4% to shareholders annually primarily through share buybacks. The earnings yield of 4.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
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 | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.6% | 8.4% | 7.2% | 7.1% | 7.6% | 7.8% | 5.4% | 7.0% | 8.9% | 4.8% | 6.7% |
| FCF Yield | 9.8% | 13.1% | 11.2% | 15.3% | 13.4% | 10.3% | 9.1% | 11.3% | 8.8% | 7.2% | 8.6% |
| Buyback Yield | 13.4% | 17.9% | 10.6% | 2.8% | 11.2% | 12.8% | 10.1% | 20.7% | 13.1% | 5.8% | 8.3% |
| Total Shareholder Yield | 13.4% | 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 |
Peer Comparison
Compare DVA with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 DVAYou | $13B | 21.9 | 10.1 | 10.2 | 27.0% | 14.7% | 46.0% | 10.5% | 5.5 |
 FMS | $13B | 12.3 | 6.3 | 6.7 | 25.6% | 9.3% | 6.5% | 5.6% | 3.3 |
 FXNC | $265M | 15.0 | 6.7 | 12.6 | 74.0% | 19.6% | 10.0% | 7.7% | 1.9 |
 UNH | $364B | 30.3 | 17.9 | 22.6 | 18.5% | 4.2% | 11.8% | 9.2% | 3.4 |
 HUM | $43B | 36.7 | 22.9 | 115.5 | 14.5% | 1.1% | 7.0% | 4.1% | 5.7 |
 CNC | $30B | -4.5 | — | 7.0 | 12.2% | -3.9% | -28.7% | -21.6% | — |
 USPH | $964M | 44.6 | 13.2 | 15.8 | 20.1% | 10.3% | 2.0% | 5.6% | 4.1 |
 AMSF | $589M | 12.7 | 8.8 | 66.0 | 46.4% | 18.6% | 18.5% | 21.9% | 0.0 |
 PNTG | $1B | 39.8 | 26.7 | 44.2 | 12.9% | 5.4% | 8.6% | 5.6% | 7.6 |
 ADUS | $2B | 18.1 | 12.2 | 16.9 | 32.5% | 9.7% | 9.3% | 8.8% | 1.3 |
 BAX | $10B | -11.4 | 27.2 | 31.8 | 30.1% | -2.7% | -14.6% | -1.4% | 14.9 |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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DVA — Frequently Asked Questions
Quick answers to the most common questions about buying DVA stock.
What is DaVita Inc.'s P/E ratio?
DaVita Inc.'s current P/E ratio is 21.9x. The historical average is 24.7x. This places it at the 79th percentile of its historical range.
What is DaVita Inc.'s EV/EBITDA?
DaVita Inc.'s current EV/EBITDA is 10.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.9x.
What is DaVita Inc.'s ROE?
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%.
Is DVA stock overvalued?
Based on historical data, DaVita Inc. is trading at a P/E of 21.9x. This is at the 79th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are DaVita Inc.'s profit margins?
DaVita Inc. has 27.0% gross margin and 14.7% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does DaVita Inc. have?
DaVita Inc.'s Debt/EBITDA ratio is 5.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.