# DaVita Inc. (DVA) — Stock CV

DaVita Inc. is a $11.4B healthcare company. Revenue grew 6.4% over the last year, it keeps 6¢ of every dollar of sales as profit, and its net debt equals ~5.9 years of free cash flow. It trades at 13.5× earnings — around the middle of its own history.

> DaVita is one of the largest providers of dialysis services in the United States, boasting a market share of about 35%. The firm operates over 3,200 facilities worldwide, mostly in the US, and treats about 300,000 patients annually.

## Identity

- **Ticker**: DVA
- **Sector**: Healthcare
- **Industry**: Services-Misc Health & Allied Services, Nec
- **Headquarters**: DENVER, CO
- **Employees**: 78 000
- **Website**: https://www.davita.com
- **Market cap**: $11.4B
- **Last price**: $179.25
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $14.0B
- **Net income**: $847M
- **Free cash flow**: $1.61B
- **Net debt**: $9.57B
- **P/E**: 13.5
- **Revenue growth (YoY)**: 6.4%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 87 |
| Growth | 30 |
| Profitability | 70 |
| Health | 22 |
| Quality | 90 |
| Moat | 50 |

## Qualifications (beginner checklist) — 8 of 10 passed

- [x] Revenue growing — +6.4% YoY
- [x] Profitable — $847M TTM
- [x] Profit growing — +19.1% YoY
- [x] Generates cash — $1.61B TTM
- [ ] Debt under control — ~5.9y of cash flow to repay
- [x] Established company — $11.4B market cap
- [x] Not printing shares — -38.1% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — health score 22/100
- [x] Valuation not extreme — P/E 13.5

## Experience (career milestones)

- **FY2021** — Best year on record: $978M net income
- **2017** — It acquired WellHealth Quality Care
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $10B: $14.7B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2016** — It acquired the Everett Clinic Medical Group, a 20-site physicians practice with 315,000 patients in…
- **2014** — DaVita acquired Colorado Springs Health Partners, with 600 employees and 110,000 patients
- **2012** — DaVita acquired Healthcare Partners for $4.42 billion
- **2005** — The company acquired Gambro Healthcare
- **2000** — The company was renamed DaVita Inc
- **Feb 27, 1998** — The company acquired Renal Treatment Centers for $1.3 billion in stock
- **1995** — The company became a public company via an initial public offering, raising $107 million
- **1994** — 70% of the company was acquired by DLJ Merchant Banking Partners in a leveraged buyout for $75.5…
- **1979** — The company was founded in 1979 as Medical Ambulatory Care, Inc., a subsidiary of National Medical Enterprises, Inc

## Strengths

- None stand out in the data.

## Watch-outs

- Net debt equals ~5.9 years of free cash flow

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $11.6B | $978M | $1.29B |
| FY2022 | $11.6B | $560M | $961M |
| FY2023 | $12.1B | $692M | $1.49B |
| FY2024 | $12.8B | $936M | $1.47B |
| FY2025 | $13.6B | $747M | $1.31B |

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Source: https://stockcv.com/DVA — derived from company filings; may be delayed or incomplete. Information, not investment advice.