Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.7B | $10.9B | $11.4B | $11.4B | $11.6B | $11.6B | $11.6B | $12.1B | $12.8B | $13.6B |
| Revenue growth | — | 1.6% | 4.9% | -0.1% | 1.4% | 0.6% | -0.1% | 4.6% | 5.6% | 6.5% |
| Operating income | $2.03B | $1.81B | $1.53B | $1.64B | $1.69B | $1.80B | $1.34B | $1.60B | $2.09B | $2.04B |
| Operating margin | 19.0% | 16.7% | 13.4% | 14.4% | 14.7% | 15.5% | 11.5% | 13.2% | 16.3% | 15.0% |
| Net income | $880M | $664M | $159M | $811M | $774M | $978M | $560M | $692M | $936M | $747M |
| Net margin | 8.2% | 6.1% | 1.4% | 7.1% | 6.7% | 8.4% | 4.8% | 5.7% | 7.3% | 5.5% |
| EPS (diluted) | $4.29 | $3.47 | $0.92 | $5.27 | $6.31 | $8.90 | $5.85 | $7.42 | $10.73 | $9.84 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.97B | $1.91B | $1.77B | $2.07B | $1.98B | $1.93B | $1.56B | $2.06B | $2.02B | $1.89B |
| Capital expenditures | $829M | $905M | $987M | $767M | $675M | $641M | $603M | $568M | $555M | $576M |
| Free cash flow | $1.14B | $1.01B | $785M | $1.31B | $1.30B | $1.29B | $961M | $1.49B | $1.47B | $1.31B |
| Share buybacks | $1.10B | $803M | $1.16B | $2.38B | $1.46B | $1.54B | $802M | $272M | $1.39B | $1.31B |
| Dividends paid | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $675M | $508M | $323M | $1.10B | $325M | $462M | $244M | $380M | $795M | $676M |
| Total assets | $18.8B | $19.0B | $19.1B | $17.3B | $17.0B | $17.1B | $16.9B | $16.9B | $17.3B | $17.5B |
| Total liabilities | $12.9B | $13.1B | $14.1B | $13.8B | $14.1B | $14.8B | $14.7B | $14.2B | $15.2B | $16.3B |
| Shareholders' equity | $4.65B | $4.69B | $3.70B | $2.13B | $1.38B | $756M | $712M | $1.06B | $121M | -$651M |
| Retained earnings | $3.71B | $3.63B | $2.74B | $1.43B | $853M | $354M | $174M | $598M | $1.53B | -$328M |
| Shares (wtd avg diluted) | 205M | 191M | 172M | 154M | 123M | 110M | 95.8M | 93.2M | 87.3M | 75.9M |
Every figure is extracted from DAVITA INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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