企業概要
DaVita Inc. is a premier provider of kidney dialysis services dedicated to patients suffering from chronic kidney failure throughout the United States. The enterprise operates a network of outpatient dialysis centers that deliver essential lab services and offers hemodialysis treatments across outpatient, hospital inpatient, and home-based settings. This organization functions within the Healthcare sector, specifically categorized under the Medical Care Facilities industry, which implies a critical role in sustaining patient health through essential medical infrastructure. With a total market capitalization of $10.07B and annual revenue reaching $13.64B, the company employs a workforce of 78,000 individuals. These valuation figures indicate a substantial scale of operations, reflecting the significant capital requirements and extensive service delivery network necessary to manage chronic care for a large patient population in a regulated medical environment.
財務健全性
The company reported trailing twelve-month revenue of $13.64B, generating net income of $721.80M and EBITDA of $2.75B. The substantial disparity between the total revenue of $13.64B and the net income of $721.80M reveals a cost structure where approximately 94.5% of revenue is consumed by operating expenses, highlighting the capital-intensive nature of running dialysis centers. Free cash flow stands at $1.05B, which signifies a robust capacity to generate cash after capital expenditures, thereby providing the firm with significant financial flexibility for operational adjustments or debt servicing. Gross margin is recorded at 32.3%, indicating the portion of revenue remaining after deducting the direct costs of providing dialysis services. Operating margin sits at 15.2%, reflecting efficiency in managing overhead costs relative to revenue, while profit margin is 5.5%, showing the final profitability after all expenses including interest and taxes. Total cash holdings amount to $700.74M, which contrasts sharply against total debt of $12.87B, resulting in a debt-to-equity ratio of 1111.35 that suggests a highly leveraged balance sheet. The current ratio is 1.29, indicating that for every dollar of current liabilities, the company holds $1.29 in current assets, which suggests adequate but tight short-term liquidity. Return on Equity reaches 64.8% and Return on Assets is 7.3%, metrics that collectively reveal high management effectiveness in utilizing shareholder equity and total assets to generate earnings despite the heavy debt load.
バリュエーション評価
The trailing twelve-month P/E ratio is 15.84, whereas the forward P/E ratio is 9.19, implying that the market expects earnings growth in the future that is high enough to justify a significant contraction in the valuation multiple. The price-to-book ratio is -15.86, a negative figure that indicates the market values the company at a level far below its book value, likely reflecting concerns regarding the high debt burden or specific accounting adjustments for the healthcare facility industry. Price-to-sales ratio stands at 0.74 and EV/EBITDA is 8.74, suggesting that the company trades at a discount relative to its sales and earnings before interest, taxes, depreciation, and amortization compared to typical peers in the medical care sector. The 52-week high is $159.42 and the 52-week low is $101.00, placing the current trading price contextually within a range where the stock has experienced significant volatility over the past year. With a beta of 0.92, the stock exhibits price volatility that closely mirrors the broader market, indicating it is neither significantly more nor less volatile than the overall market index.
Growth & Income
Revenue growth year-over-year is 9.9% and earnings growth year-over-year is 6.5%, demonstrating that earnings are growing at a slower pace than revenue, which implies that profitability per dollar of sales is facing pressure or that revenue expansion is occurring faster than the ability to convert that revenue into net profit. The dividend yield is N/A and the payout ratio is 0.0%, indicating that the company currently does not distribute cash to shareholders. Instead of paying dividends, the firm retains all earnings, effectively reinvesting profits back into the business to fund operations, pay down debt, or pursue organic growth initiatives within the dialysis market. The overall growth and income profile presents a scenario of moderate top-line expansion accompanied by slower earnings acceleration, combined with a capital allocation strategy focused entirely on retention rather than shareholder distributions.