The Moat Index

DAVITA INC.

DVA · Healthcare · $16.2B mkt cap · FY2025 filings · Not rated ·

Not rated

/ 100
Not rated

We don't have enough comparable filing data to score DVA on every filter, so we don't publish a composite. Missing: pricingPower.

20 years of fundamentals

The business, in plain English

Across the filed record, revenue grew from $9.7B (FY2016) to $13.6B (FY2025) — about 3.8% a year compounded over 9 years.

It earned 17.9% on invested capital in FY2025, with a median of 11.5% across 18 filed years. The Returns on Capital filter above scores it 70/100.

The balance sheet carried $10.3B of total debt in FY2025 against $879.2M of owner earnings — roughly 11.7 years of owner earnings to retire it all. Balance-Sheet Safety scores it 12/100.

The share count fell 33.9% between FY2008 and FY2025 — management has been retiring shares, which concentrates each remaining owner's claim. Capital Discipline scores it 58/100.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

FY2006–FY2025 · 20 fiscal years, normalized from DVA’s SEC filings

RevenueSales, as filed$13.6B FY2025
$0$5B$10B2006201320202025
Gross marginRevenue kept after cost of goods

Not disclosed in DVA’s filings for these years — we don’t estimate it.

Return on invested capitalOperating profit on the capital employed17.9% FY2025
0%10%20%2006201320202025
Owner earningsCash an owner could take out$879.2M FY2025
$0$500M$1B2006201320202025

Gaps in a line mean that item isn’t in DVA’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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DAVITA INC. (DVA) Moat Score — The Moat Index · Buy Like Buffett