DVA

DAVITA INC.

Ticker: DVAHealthcareHealth ServicesS&P 500
HQ DENVER, COCIK 927066FY end 12-31Book / share $-11.34Shares 67M
Revenue (FY)
$13.64B+6.46%
TTM $14.01B
Op. margin
14.98%-1.33%
TTM 15.19%
Net income
$1.08B-13.75%
TTM $1.19B
Operating cash
$1.89B-6.70%
TTM $2.19B
Free cash flow
$1.31B-10.63%
TTM $1.61B
Return on equity
-114.70%-887.76%
TTM -110.77%
Debt / equity
-15.78-93.77%
TTM -14.09
Shares outstanding
75.9M-13.05%
TTM 67.5M

The business

DaVita Inc. (NYSE: DVA) operates as a leading global healthcare provider specializing in kidney care services. The company maintains its corporate presence at davita.com and serves patients across the United States and internationally through a comprehensive platform addressing chronic kidney disease management and end-stage renal disease treatment.

The company's business is organized into three primary segments. The U.S. dialysis business represents approximately 86 percent of consolidated revenues and constitutes the largest operating division. As of December 31, 2025, DaVita operated 2,657 outpatient dialysis centers across 46 states and the District of Columbia, treating approximately 200,500 patients. The company provides hemodialysis services, peritoneal dialysis support, home hemodialysis services, hospital inpatient dialysis through contracts with approximately 740 hospitals, and specialized laboratory testing for end-stage renal disease patients. The U.S. dialysis business also generates revenue through medical director services and management fees for centers in which DaVita holds noncontrolling interests.

The U.S. integrated kidney care business provides disease management and care coordination services to approximately 75,400 patients through risk-based and value-based care arrangements, including participation in Medicare Advantage chronic special needs plans and the Center for Medicare and Medicaid Innovation's Comprehensive Kidney Care Contracting model. This segment focuses on managing patients across the kidney disease continuum from early-stage chronic kidney disease through end-stage renal disease and transplantation.

International operations comprise the third segment, with 585 outpatient dialysis centers located across 14 countries serving approximately 94,500 patients. Major international markets include Brazil, Colombia, Malaysia, Poland, and Chile.

Revenue sources for U.S. dialysis services include Medicare and Medicare Advantage plans accounting for 57 percent, commercial insurance representing 32 percent, and Medicaid and other government programs comprising 11 percent. The company employs a patient-centric care model emphasizing clinical quality, with consistent recognition as an industry leader in the Centers for Medicare and Medicaid Services Quality Incentive Program and Five-Star Quality Rating System. DaVita maintains relationships with approximately 5,200 nephrologists and operates through joint venture partnerships with physicians and healthcare organizations.

Sector
Healthcare
Industry
Health Services
HQ
DENVER, CO
FY end
12-31
CIK
927066
SIC
8090
Financial performance · annual
20132025
$-1.47B$2.95B$7.37B$11.80B$16.22B2013201420152016201720182019202020212022202320242025TTMTTMTTM

Ownership

Who holds DAVITA INC. — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

484
funds hold it
1 of 35
superinvestors hold it
$2.32B
fund-held value
18.3%
of shares held by funds
4
bond issues held by funds

Top fund holders

Fund% of fundValue
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%$226.77M
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.01%$184.69M
Invesco S&P 500 Equal Weight ETF
RSP · Invesco Exchange-Traded Fund Trust
0.19%$169.13M
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.09%$163.84M
Neuberger Quality Equity Fund
NBSRX · NEUBERGER BERMAN EQUITY FUNDS
2.93%$122.78M

Superinvestors in DAVITA INC.

Warren BuffettDECREASED -4.1%
Berkshire Hathaway
2.1%

Share of each manager's reported 13F portfolio.

Bonds held by funds

Funds report holding 4 issues of DAVITA INC.'s debt, $2.29B at fund-held market value — what funds hold, not the company's debt outstanding. Weighted-average coupon 5.15%, maturing 20302033.

IssueCouponMaturesFundsFund-held
DaVita, Inc.4.625%2030-06-01265$1.11B
DaVita Inc3.750%2031-02-15144$446.94M
DaVita Inc6.875%2032-09-01209$387.55M
DaVita Inc6.750%2033-07-15181$342.55M

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

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15 years of DAVITA INC.'s financials

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