Macroeconomic conditionspositive · 4 filings
“For example, staffing and labor costs have increased during the year, due to, among other factors, the continuation of inflationary conditions.”10-Q · May 5, 2026 ↗
DaVita Inc.
DVA
Market read
DaVita Inc.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 7 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.
What changed
- Revenue increased 6.0% versus the comparable filing period.
Company-1.0% todayVolume comparison unavailable
Market group0 of 7 activeNo Coherent Theme · unavailable
Disclosed network0 of 6 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- Second-quarter U.S. dialysis patient care costs per treatment declined from the first quarter because of seasonal payroll-tax effects, productivity, and lower pharmaceutical costs.
- Staffing and labor costs have increased during the year, attributed in the filing to the continuation of inflationary conditions.
Invalidation: The isolated read changes if DVA's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 7 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.
Evidence that supports
- Revenue increased 6.0% versus the comparable filing period.
- Net income increased 21.2% versus the comparable filing period.
- Operating cash flow covered net income at 1.62x, improving versus the comparable period.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- Second-quarter U.S. dialysis patient care costs per treatment declined from the first quarter because of seasonal payroll-tax effects, productivity, and lower pharmaceutical costs.
- Staffing and labor costs have increased during the year, attributed in the filing to the continuation of inflationary conditions.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations601
Usable filing statements131
Verified relationships8
Evidence supporting the case
- Latest annual revenue changed +6.5% year over year.
- Operating cash flow covered net income at 2.53x in the latest annual period.
- Macroeconomic conditions has repeated favorable evidence across 4 filings.
- Input and raw-material costs has repeated favorable evidence across 3 filings.
- Labor availability and costs has repeated favorable evidence across 3 filings.
Evidence challenging the case
- Operating margin changed -1.3 percentage points in the latest annual period.
- Net margin changed -1.8 percentage points in the latest annual period.
Questions before a position
- P/E is 17% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 48% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
181.386m+17.2%12m+32.7%24m+22.0%
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$11.6B+0.6%$8.90-10.3%
2022-12-31$11.6B-0.1%$5.85-12.8%
2023-12-31$12.1B+4.6%$7.42-2.8%
2024-12-31$12.8B+5.6%$10.73-6.3%
2025-12-31$13.6B+6.5%$9.84-13.0%
What management says matters
Persistent and emerging business drivers
Input and raw-material costspositive · 3 filings
“For example, staffing and labor costs have increased during the year, due to, among other factors, the continuation of inflationary conditions.”10-Q · May 5, 2026 ↗
Labor availability and costspositive · 3 filings
“For example, staffing and labor costs have increased during the year, due to, among other factors, the continuation of inflationary conditions.”10-Q · May 5, 2026 ↗
Restructuring and cost reductionsmixed · 3 filings
“27 Other income (loss), net Other income for the first quarter of 2026 compared to loss for the fourth quarter of 2025 was impacted by equity investment losses in the fourth quarter of 2025 at Mozarc Medical Holding LLC (Mozarc) which included impairment and…”10-Q · May 5, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.0× · EV/sales 1.0×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
181.38-1.0% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for DVA. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
Fundamentals strengthened in the latest filing
10-Q filed 2026-05-05 against the comparable filing from 2025-05-12.
OperationsconstructiveEvidence score +2
liquidityconstructiveEvidence score +1
valuationmixed
What improved
- Revenue increased 6.0% versus the comparable filing period.
- Net income increased 21.2% versus the comparable filing period.
- Operating cash flow covered net income at 1.62x, improving versus the comparable period.
What weakened
No thresholded deterioration was identified.
Filing receipts
“Debt expense for the three months ended March 31, 2026 compared to the three months ended March 31, 2025 increased primarily due to an increase in our long-term debt balance related to the issuance of the 6.75% senior notes due 2033 in the second quarter of 2025, partially offset by decreased weighted average effective interest rates.”
“Free cash flow during the three months ended March 31, 2026 increased as compared to the three months ended March 31, 2025 primarily due to an increase in net cash provided by operating activities, as described above, and decreases in capital expenditures.”
“U.S. dialysis average patient service revenue per treatment for the three months ended March 31, 2026 increased compared to the three months ended March 31, 2025 primarily driven by an increase in average reimbursement rates from normal annual increases, including Medicare base rate, and other normal fluctuations.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind DVA
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
JYNTFiling-linked namepartnerFeb 11, 2026 ▾
“" Risk Factors " under the headings " Our business is subject to a complex set of governmental laws, regulations and other requirements...;" "If the number or percentage of patients with higher-paying commercial insurance declines...;" " If we are unable to n…”
FMSFresenius Medical Care AGcompetitorFeb 11, 2026 ▾
“Some competitors, including our largest competitor, Fresenius Medical Care, also manufacture their own supplies and equipment, in addition to owning and operating outpatient dialysis centers worldwide, which may, among other things, provide cost advantages to…”
Depended on by
MDTMedtronic plcpartnerJun 18, 2026 ▾
“This sale was part of an agreement between Medtronic and DaVita to form a new, independent kidney care-focused medical device company (“Mozarc Medical” or "Mozarc") with equal equity ownership.”
Filing peers
No filing peers are available for this name yet.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 3 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
DVA is currently a Follower in the organic co-movement group No Coherent Theme. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for DVA; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.