DAVITA INC.

Listed Company

DVACIK 0000927066NYSELarge AcceleratedServices-Misc Health & Allied Services, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$13.64B

Net Income

$746.80M

Total Assets

$17.48B

Equity

$-651.08M

Shares Out

66.80M

Op. Cash Flow

$1.89B

Business

DaVita Inc. is a healthcare provider focused on comprehensive kidney care, delivering dialysis and related services across the kidney health continuum. It offers outpatient and inpatient dialysis, home dialysis support, specialized ESKD laboratory testing, transplant facilitation software, clinical research, management services and integrated care and disease‑management solutions. Its key business segments include U.S. dialysis services, U.S. integrated kidney care, international dialysis operations and other ancillary services, supported by corporate administrative functions. DaVita operates through a network of dialysis centers, hospital contracts, home‑based programs and payor and physician partnerships across the United States and multiple international markets.

Summary from filing dated 2025-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Dialysis patient service revenues	13,007	12,260	11,575	11,176	11,214
Other revenues	636	555	565	433	405
Total revenues	13,643	12,816	12,140	11,610	11,619
Patient care costs	9,243	8,599	8,320	8,210	7,972
General and administrative	1,674	1,538	1,474	1,355	1,195
Depreciation and amortization	715	724	745	733	681
Equity investment income, net	−33	−26	−28	−27	−27
Goodwill impairment charges	0	0	26	0	0
Gain on changes in ownership interests	0	−109	0	—	—
Total operating expenses	11,599	10,725	10,537	10,271	9,821
Operating income	2,044	2,090	1,603	1,339	1,797
Debt expense	−580	−470	−399	−357	−285
Debt extinguishment and modification costs	−14	−20	−8	0	—
Other loss, net	−103	−70	−19	−16	6
Income from continuing operations before income taxes	1,347	1,530	1,177	966	1,518
Income tax expense	293	280	220	198	307
Net income from continuing operations	1,054	1,251	957	768	1,212
Net income from discontinued operations, net of tax	25	0	0	13	0
Net income	1,079	1,251	957	782	1,212
Less: Net income attributable to noncontrolling interests	−332	−314	−265	−221	−233
Net income attributable to DaVita Inc.	747	936	692	560	978
Basic net income from continuing operations	9.72	11.02	7.62	5.88	9.3
Basic net income	10.06	11.02	7.62	6.03	9.3
Diluted net income from continuing operations	9.51	10.73	7.42	5.71	8.9
Diluted net income	9.84	10.73	7.42	5.85	8.9
Basic shares (in shares)	74	85	91	93	105
Diluted shares (in shares)	76	87	93	96	110
Net income from continuing operations	722	936	692	547	978
Net income from discontinued operations	25	0	0	13	0

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	676	795	380	244	462
Restricted cash and equivalents	81	85	85	95	93
Short-term investments	24	51	12	78	22
Accounts receivable	2,415	2,147	1,987	2,132	1,958
Inventories	161	135	143	109	107
Contract assets and other receivables	494	383	423	414	427
Prepaid and other current assets	156	123	103	79	73
Income tax receivable	50	28	6	5	26
Total current assets	4,058	3,746	3,138	3,155	3,168
Property and equipment, net of accumulated depreciation	2,813	2,941	3,074	3,256	3,480
Operating lease right-of-use assets	2,397	2,394	2,501	2,666	2,825
Intangible assets, net of accumulated amortization	222	197	203	183	178
Equity method and other investments	157	337	546	231	239
Long-term investments	41	34	48	44	50
Other long-term assets	247	262	271	316	137
Goodwill	7,545	7,375	7,113	7,077	7,046
Assets, Total	17,480	17,285	16,894	16,928	17,121
Accounts payable	696	547	515	480	402
Other liabilities	893	934	829	802	709
Accrued compensation and benefits	793	800	753	693	660
Current portion of operating lease liabilities	425	410	394	395	394
Current portion of long-term debt	109	271	123	231	179
Income tax payable	24	10	29	18	54
Due to Related Party	200	0	—	—	—
Total current liabilities	3,142	2,973	2,642	2,620	2,399
Long-term operating lease liabilities	2,176	2,210	2,330	2,503	2,673
Long-term debt	10,164	9,176	8,268	8,693	8,729
Other long-term liabilities	84	170	183	105	119
Deferred income taxes	757	665	726	783	831
Total liabilities	16,322	15,194	14,150	14,703	14,751
Noncontrolling interests subject to put provisions	1,532	1,695	1,499	1,349	1,435
Preferred Stock, Value, Issued	0	0	0	0	0
Common Stock, Value, Issued	69,000	90,000	89,000	90,000	97,000
Additional paid-in capital	0	286	510	607	540
Accumulated (deficit) earnings	−328	1,535	598	174	354
Treasury Stock, Value	−200	−1,389	0	—	—
Accumulated other comprehensive loss	−123	−311	−52	−69	−139
Total DaVita Inc. shareholders' equity (deficit)	−651	121	1,056	712	756
Noncontrolling interests not subject to put provisions	277	275	188	164	181
Total equity (deficit)	−374	396	1,244	876	936
Total liabilities and shareholders' equity	17,480	17,285	16,894	16,928	17,121
Preferred stock, par value (in usd per share)	0	0	0	0	0
Preferred stock, shares authorized (in shares)	5	5	5	5	5
Preferred stock, issued (in shares)	0	0	0	0	0
Common stock, par value (in usd per share)	0	0	0	0	0
Common stock, shares authorized (in shares)	450	450	450	450	450
Common stock, shares issued (in shares)	69	90	89	90	97

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	715	724	745	733	681
Impairment charges	0	0	26	0	0
Loss on extinguishment of debt	12	13	7	—	—
Stock-based compensation expense	140	103	112	95	102
Deferred income taxes	87	−58	−39	−76	60
Equity investment loss, net	134	116	65	9	5
Other non-cash (gains) and losses, net	−18	13	−9	22	11
Accounts receivable	−211	−30	172	−148	−138
Inventories	−20	18	−32	−757,000	6
Other current assets	−124	37	−43	28	129
Other long-term assets	−40	−67	−6	−51	−26
Accounts payable	128	2	27	87	−30
Accrued compensation and benefits	−24	15	56	35	−17
Other current liabilities	−30	47	27	90	−94
Income taxes	50	−44	2	−24	37
Other long-term liabilities	7	−7	−8	−16	−7
Net Cash Provided by (Used in) Operating Activities, Total	1,887	2,022	2,059	1,565	1,931
Additions of property and equipment	−576	−555	−568	−603	−641
Acquisitions	−117	−246	−26	57	—
Proceeds from asset and business sales	34	26	31	118	61
Purchase of debt investments held-to-maturity	−16	−15	−37	−130	−31
Purchase of other debt and equity investments	−6	−9	−10	−4	−3
Proceeds from debt investments held-to-maturity	45	23	100	71	16
Proceeds from sale of other debt and equity investments	7	5	10	4	12
Purchase of equity method investments	−27	−5	−276	−32	−14
Distributions from equity method investments	2	7	5	4	3
Net Cash Provided by (Used in) Investing Activities, Total	−655	−771	−772	−630	−785
Borrowings	5,612	6,624	2,468	2,393	1,615
Payments on long-term debt	−4,789	−5,515	−3,021	−2,404	−861
Deferred and debt related financing costs	−54	−51	−70	—	—
Purchase Of Treasury Stock From Related Party	−485	0	0	—	—
Purchase of treasury stock	−1,308	−1,386	−272	−802	−1,539
Distributions to noncontrolling interests	−324	−337	−281	−268	−244
Net proceeds from issuance of common stock under employee stock plans	23	20	17	19	—
Payment, Tax Withholding, Share-Based Payment Arrangement	−35	−134	−65	−56	—
Contributions from noncontrolling interests	7	14	15	15	32
Proceeds from sales of additional noncontrolling interests	4	860,000	51	4	3
Purchases of noncontrolling interests	−26	−54	−13	−21	−20
Net cash used in financing activities	−1,375	−817	−1,170	−1,121	−1,083
Effect of exchange rate changes on cash, cash equivalents and restricted cash	21	−18	9	−29	−10
Less: Net increase (decrease) in cash, cash equivalents and restricted cash	−122	415	126	−216	53

Filings

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