| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 85 | 15.1x | 17.3x | Top tier | |
Growth | 43 | 6.4% | 7.1% | Around median | |
Quality | 74 | 14.5% | 4.5% | Top tier | |
Safety | 41 | 4.5x | 2.6x | Around median | |
Capital Return | 77 | 1.15% | 0.06% | Top tier | |
Momentum | 75 | 39.5% | -1.6% | Top tier | |
Sentiment | 42 | 5 | 3 | Around median |
The floor: what the company is worth if growth stopped today
18% of today's price is what a buyer pays for growth that has not happened yet.
10-year US Treasury yield 4.96% as of 2026-10-22. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
DaVita operates a network that provides dialysis services, with the economics of its core business driven by the number of treatment sessions and the revenue generated per session, while reimbursement varies according to the payer mix between commercial insurance and government programs. Alongside its U.S. dialysis business, the company has international operations and an integrated kidney care business, IKC, which is growing by increasing the number of beneficiaries and contracts with Medicare Advantage plans and managing the total cost of care. It also closed a $200 million investment in July 2026 to acquire a minority stake in Elara Caring, aimed at providing home care services designed for dialysis patients, with an expected benefit in the low single-digit millions of dollars during fiscal year 2026.
In fiscal Q2 2026, revenue was $3.6 billion, net income was $265.4 million, and earnings per share were $4.02, compared with revenue of $3.4 billion, net income of $197.5 million, and earnings per share of $2.87 in fiscal Q1 2026. The company reported adjusted operating income of $579 million and free cash flow of $256 million; the available data did not include a figure for gross profit or its margin. In terms of the operating mix, international operations generated adjusted operating income of $25 million, while IKC generated about $40 million, supported by the timing of revenue recognition, whereas operating income from the U.S. dialysis business remained nearly flat year over year despite treatment growth.
Revenue for the twelve months ended in fiscal year 2026 was approximately $14.0 billion, net income was $847.5 million, and earnings per share were $12.82, compared with revenue of $13.6 billion, net income of $746.8 million, and earnings per share of $9.84 in fiscal year 2025. However, mix quality weighed on results within the quarter; revenue per treatment declined by about $2 sequentially due to a lower commercial insurance share, a reduced contribution from phosphate binders, and revenue timing that had been favorable in the previous quarter. The quarter therefore combined improved earnings and volume on one hand with clear pressure on margins and treatment economics on the other.
The average analyst price target is $235.67, within a wide range of $215 to $270, while the consensus recommendation is "Neutral"; the average is near the upper end of the 52-week range of $101 to $247.49, while the highest target exceeds that level. No reliable price-to-earnings ratio is available in the data, so the valuation assessment is based on the divergence in targets and the wide 52-week range, balancing earnings growth and improving treatment volumes against pressure from the commercial mix, margins, and financial leverage of 3.37 times.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
DaVita reported revenue of $3.6 billion, net income of $265.4 million, and earnings per share of $4.02 in fiscal Q2 2026. Adjusted operating income was $579 million, while free cash flow reached $256 million. The number of treatment sessions increased by 0.56% year over year, but revenue per treatment declined by about $2 compared with the previous quarter due to a weaker commercial mix and a lower contribution from phosphate binders.
On August 4, 2026, management reaffirmed its fiscal year 2026 guidance range, with a midpoint of $2.2 billion for adjusted operating income and $14.65 for adjusted earnings per share. It expects total treatment growth near the upper end of the 0.25% to 0.50% range, or approximately 0.50% to 0.75% after adjusting for the calendar effect. It also expects adjusted operating income in fiscal Q4 to be $50 million to $100 million higher than in fiscal Q3, with IKC timing being the largest driver.
The expiration of ACA plan subsidies led to lower enrollment in commercial insurance plans and the addition of new patients with a greater mix of government coverage. As a result, revenue per treatment declined by about $2 sequentially in fiscal Q2 2026, although revenue per treatment remained 3.6% higher year over year during the first half. Management estimates the negative mix impact at approximately $40 million in fiscal year 2026 and approximately $70 million in fiscal year 2027.
Automated analysis for informational purposes only — not investment advice.
The MOTheR trial showed that expanded HD using a medium cut-off filter was non-inferior to HDF according to a composite endpoint of mortality and major cardiovascular events. A new expanded HD filter from NIPRO received FDA approval, and DaVita secured enough supplies to meet physician demand and use with its existing machines. The company intends to begin broadly deploying the technology during the quarters following fiscal Q2 2026, but it does not expect the positive economic impact associated with improved mortality to begin before 2028.
DaVita repurchased 2.2 million shares during fiscal Q2 2026, followed by an additional 183 thousand shares after quarter-end, bringing year-to-date purchases as of the August 4, 2026 call to approximately $785 million. It also invested $200 million in a minority stake in Elara Caring during July 2026 and expects a benefit in the low single-digit millions of dollars from it in fiscal year 2026. At quarter-end, financial leverage was 3.37 times consolidated EBITDA, within the target range of 3 to 3.5 times, and debt expense was $152 million.
The consensus rating for DVA stock is "Neutral," and the average price target is $235.67. Estimates range from a low target of $215 to a high target of $270, revealing meaningful divergence in analyst valuations. The average target is near the upper end of the 52-week range of $101 to $247.49, while the data do not include a valid price-to-earnings ratio for an additional comparison.