Intrinsic value of DaVita - DVA

Previous Close

$68.20

  Intrinsic Value

$98.42

stock screener

  Rating & Target

buy

+44%

Previous close

$68.20

 
Intrinsic value

$98.42

 
Up/down potential

+44%

 
Rating

buy

We calculate the intrinsic value of DVA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 11.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  6.90
  6.71
  6.54
  6.39
  6.25
  6.12
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.43
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
Revenue, $m
  11,627
  12,407
  13,219
  14,063
  14,941
  15,856
  16,809
  17,802
  18,838
  19,918
  21,046
  22,224
  23,454
  24,740
  26,085
  27,491
  28,962
  30,502
  32,114
  33,802
  35,571
  37,423
  39,364
  41,399
  43,531
  45,767
  48,112
  50,571
  53,149
  55,855
Variable operating expenses, $m
  9,395
  9,980
  10,589
  11,222
  11,881
  12,567
  13,282
  14,027
  14,804
  15,615
  15,788
  16,672
  17,595
  18,559
  19,568
  20,623
  21,727
  22,882
  24,091
  25,358
  26,684
  28,074
  29,530
  31,056
  32,656
  34,334
  36,093
  37,937
  39,872
  41,901
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  9,395
  9,980
  10,589
  11,222
  11,881
  12,567
  13,282
  14,027
  14,804
  15,615
  15,788
  16,672
  17,595
  18,559
  19,568
  20,623
  21,727
  22,882
  24,091
  25,358
  26,684
  28,074
  29,530
  31,056
  32,656
  34,334
  36,093
  37,937
  39,872
  41,901
Operating income, $m
  2,232
  2,427
  2,630
  2,841
  3,060
  3,289
  3,527
  3,775
  4,034
  4,304
  5,258
  5,552
  5,859
  6,181
  6,517
  6,868
  7,235
  7,620
  8,023
  8,445
  8,886
  9,349
  9,834
  10,342
  10,875
  11,434
  12,019
  12,634
  13,278
  13,954
EBITDA, $m
  3,453
  3,685
  3,926
  4,177
  4,438
  4,709
  4,992
  5,287
  5,595
  5,916
  6,251
  6,601
  6,966
  7,348
  7,747
  8,165
  8,602
  9,059
  9,538
  10,040
  10,565
  11,115
  11,692
  12,296
  12,929
  13,593
  14,290
  15,020
  15,786
  16,589
Interest expense (income), $m
  407
  504
  557
  612
  669
  729
  791
  856
  923
  994
  1,067
  1,143
  1,223
  1,306
  1,393
  1,484
  1,580
  1,679
  1,783
  1,892
  2,006
  2,126
  2,251
  2,382
  2,519
  2,663
  2,814
  2,972
  3,138
  3,312
  3,494
Earnings before tax, $m
  1,728
  1,870
  2,018
  2,171
  2,331
  2,497
  2,671
  2,852
  3,040
  3,237
  4,114
  4,329
  4,553
  4,787
  5,032
  5,288
  5,556
  5,837
  6,131
  6,438
  6,761
  7,098
  7,452
  7,823
  8,212
  8,620
  9,047
  9,496
  9,966
  10,459
Tax expense, $m
  467
  505
  545
  586
  629
  674
  721
  770
  821
  874
  1,111
  1,169
  1,229
  1,293
  1,359
  1,428
  1,500
  1,576
  1,655
  1,738
  1,825
  1,917
  2,012
  2,112
  2,217
  2,327
  2,443
  2,564
  2,691
  2,824
Net income, $m
  1,262
  1,365
  1,473
  1,585
  1,702
  1,823
  1,950
  2,082
  2,219
  2,363
  3,004
  3,160
  3,324
  3,495
  3,673
  3,860
  4,056
  4,261
  4,475
  4,700
  4,935
  5,182
  5,440
  5,711
  5,995
  6,292
  6,605
  6,932
  7,275
  7,635

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  20,256
  21,616
  23,029
  24,499
  26,030
  27,623
  29,283
  31,014
  32,818
  34,700
  36,665
  38,717
  40,861
  43,101
  45,444
  47,894
  50,457
  53,140
  55,948
  58,889
  61,970
  65,197
  68,579
  72,123
  75,839
  79,734
  83,819
  88,102
  92,595
  97,308
Adjusted assets (=assets-cash), $m
  20,256
  21,616
  23,029
  24,499
  26,030
  27,623
  29,283
  31,014
  32,818
  34,700
  36,665
  38,717
  40,861
  43,101
  45,444
  47,894
  50,457
  53,140
  55,948
  58,889
  61,970
  65,197
  68,579
  72,123
  75,839
  79,734
  83,819
  88,102
  92,595
  97,308
Revenue / Adjusted assets
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
  0.574
Average production assets, $m
  6,639
  7,085
  7,548
  8,030
  8,531
  9,054
  9,598
  10,165
  10,756
  11,373
  12,017
  12,690
  13,392
  14,127
  14,894
  15,697
  16,537
  17,417
  18,337
  19,301
  20,311
  21,369
  22,477
  23,639
  24,856
  26,133
  27,472
  28,876
  30,348
  31,893
Working capital, $m
  5,697
  6,080
  6,477
  6,891
  7,321
  7,769
  8,236
  8,723
  9,230
  9,760
  10,312
  10,890
  11,493
  12,123
  12,781
  13,471
  14,192
  14,946
  15,736
  16,563
  17,430
  18,337
  19,288
  20,285
  21,330
  22,426
  23,575
  24,780
  26,043
  27,369
Total debt, $m
  10,311
  11,333
  12,396
  13,502
  14,652
  15,851
  17,099
  18,400
  19,757
  21,173
  22,650
  24,193
  25,805
  27,490
  29,252
  31,094
  33,022
  35,039
  37,151
  39,363
  41,679
  44,106
  46,649
  49,315
  52,109
  55,038
  58,110
  61,331
  64,709
  68,253
Total liabilities, $m
  15,233
  16,255
  17,318
  18,424
  19,574
  20,773
  22,021
  23,322
  24,679
  26,095
  27,572
  29,115
  30,727
  32,412
  34,174
  36,016
  37,944
  39,961
  42,073
  44,285
  46,601
  49,028
  51,571
  54,237
  57,031
  59,960
  63,032
  66,253
  69,631
  73,175
Total equity, $m
  5,024
  5,361
  5,711
  6,076
  6,455
  6,851
  7,262
  7,691
  8,139
  8,606
  9,093
  9,602
  10,133
  10,689
  11,270
  11,878
  12,513
  13,179
  13,875
  14,605
  15,368
  16,169
  17,008
  17,887
  18,808
  19,774
  20,787
  21,849
  22,964
  24,132
Total liabilities and equity, $m
  20,257
  21,616
  23,029
  24,500
  26,029
  27,624
  29,283
  31,013
  32,818
  34,701
  36,665
  38,717
  40,860
  43,101
  45,444
  47,894
  50,457
  53,140
  55,948
  58,890
  61,969
  65,197
  68,579
  72,124
  75,839
  79,734
  83,819
  88,102
  92,595
  97,307
Debt-to-equity ratio
  2.050
  2.110
  2.170
  2.220
  2.270
  2.310
  2.350
  2.390
  2.430
  2.460
  2.490
  2.520
  2.550
  2.570
  2.600
  2.620
  2.640
  2.660
  2.680
  2.700
  2.710
  2.730
  2.740
  2.760
  2.770
  2.780
  2.800
  2.810
  2.820
  2.830
Adjusted equity ratio
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,262
  1,365
  1,473
  1,585
  1,702
  1,823
  1,950
  2,082
  2,219
  2,363
  3,004
  3,160
  3,324
  3,495
  3,673
  3,860
  4,056
  4,261
  4,475
  4,700
  4,935
  5,182
  5,440
  5,711
  5,995
  6,292
  6,605
  6,932
  7,275
  7,635
Depreciation, amort., depletion, $m
  1,221
  1,258
  1,296
  1,336
  1,377
  1,421
  1,466
  1,512
  1,561
  1,612
  993
  1,049
  1,107
  1,167
  1,231
  1,297
  1,367
  1,439
  1,515
  1,595
  1,679
  1,766
  1,858
  1,954
  2,054
  2,160
  2,270
  2,386
  2,508
  2,636
Funds from operations, $m
  2,483
  2,623
  2,769
  2,921
  3,079
  3,244
  3,415
  3,594
  3,781
  3,975
  3,997
  4,209
  4,430
  4,662
  4,904
  5,158
  5,423
  5,700
  5,991
  6,295
  6,614
  6,948
  7,298
  7,665
  8,049
  8,452
  8,875
  9,318
  9,783
  10,271
Change in working capital, $m
  368
  382
  398
  414
  430
  448
  467
  487
  507
  529
  553
  577
  603
  630
  659
  689
  721
  755
  790
  827
  866
  908
  951
  997
  1,045
  1,096
  1,149
  1,205
  1,264
  1,325
Cash from operations, $m
  2,115
  2,241
  2,372
  2,508
  2,649
  2,796
  2,948
  3,107
  3,273
  3,446
  3,444
  3,632
  3,828
  4,032
  4,245
  4,469
  4,702
  4,946
  5,201
  5,468
  5,747
  6,040
  6,347
  6,668
  7,004
  7,357
  7,726
  8,114
  8,520
  8,946
Maintenance CAPEX, $m
  -513
  -549
  -586
  -624
  -664
  -705
  -748
  -793
  -840
  -889
  -940
  -993
  -1,049
  -1,107
  -1,167
  -1,231
  -1,297
  -1,367
  -1,439
  -1,515
  -1,595
  -1,679
  -1,766
  -1,858
  -1,954
  -2,054
  -2,160
  -2,270
  -2,386
  -2,508
New CAPEX, $m
  -429
  -445
  -463
  -482
  -502
  -522
  -544
  -567
  -591
  -617
  -644
  -673
  -703
  -734
  -768
  -803
  -840
  -879
  -921
  -964
  -1,010
  -1,058
  -1,108
  -1,162
  -1,218
  -1,277
  -1,339
  -1,404
  -1,473
  -1,545
Cash from investing activities, $m
  -942
  -994
  -1,049
  -1,106
  -1,166
  -1,227
  -1,292
  -1,360
  -1,431
  -1,506
  -1,584
  -1,666
  -1,752
  -1,841
  -1,935
  -2,034
  -2,137
  -2,246
  -2,360
  -2,479
  -2,605
  -2,737
  -2,874
  -3,020
  -3,172
  -3,331
  -3,499
  -3,674
  -3,859
  -4,053
Free cash flow, $m
  1,173
  1,247
  1,323
  1,402
  1,484
  1,568
  1,656
  1,747
  1,842
  1,940
  1,860
  1,966
  2,076
  2,191
  2,310
  2,435
  2,564
  2,700
  2,841
  2,989
  3,143
  3,304
  3,472
  3,648
  3,833
  4,026
  4,228
  4,439
  4,661
  4,893
Issuance/(repayment) of debt, $m
  975
  1,022
  1,063
  1,106
  1,151
  1,198
  1,248
  1,301
  1,357
  1,416
  1,478
  1,543
  1,612
  1,685
  1,761
  1,842
  1,928
  2,017
  2,112
  2,212
  2,317
  2,427
  2,543
  2,665
  2,794
  2,929
  3,072
  3,221
  3,379
  3,544
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  975
  1,022
  1,063
  1,106
  1,151
  1,198
  1,248
  1,301
  1,357
  1,416
  1,478
  1,543
  1,612
  1,685
  1,761
  1,842
  1,928
  2,017
  2,112
  2,212
  2,317
  2,427
  2,543
  2,665
  2,794
  2,929
  3,072
  3,221
  3,379
  3,544
Total cash flow (excl. dividends), $m
  2,147
  2,269
  2,386
  2,508
  2,634
  2,767
  2,904
  3,048
  3,198
  3,355
  3,338
  3,509
  3,688
  3,876
  4,072
  4,277
  4,492
  4,717
  4,953
  5,200
  5,459
  5,731
  6,015
  6,314
  6,627
  6,955
  7,299
  7,660
  8,039
  8,437
Retained Cash Flow (-), $m
  -334
  -337
  -351
  -365
  -380
  -395
  -412
  -429
  -447
  -467
  -487
  -509
  -532
  -556
  -581
  -608
  -636
  -665
  -697
  -729
  -764
  -800
  -839
  -879
  -921
  -966
  -1,013
  -1,062
  -1,114
  -1,169
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  1,814
  1,932
  2,035
  2,143
  2,255
  2,371
  2,493
  2,619
  2,751
  2,888
  2,850
  3,000
  3,157
  3,320
  3,491
  3,669
  3,856
  4,052
  4,257
  4,471
  4,695
  4,930
  5,177
  5,435
  5,705
  5,989
  6,286
  6,598
  6,925
  7,268
Discount rate, %
  8.60
  9.03
  9.48
  9.96
  10.45
  10.98
  11.52
  12.10
  12.71
  13.34
  14.01
  14.71
  15.44
  16.22
  17.03
  17.88
  18.77
  19.71
  20.70
  21.73
  22.82
  23.96
  25.16
  26.42
  27.74
  29.12
  30.58
  32.11
  33.71
  35.40
PV of cash for distribution, $m
  1,670
  1,625
  1,551
  1,466
  1,372
  1,269
  1,162
  1,050
  937
  826
  674
  578
  488
  405
  330
  264
  207
  159
  119
  88
  63
  44
  30
  20
  13
  8
  5
  3
  2
  1
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

DaVita Inc., formerly DaVita HealthCare Partners Inc., operates two divisions: DaVita Kidney Care (Kidney Care) and DaVita Medical Group (DMG). The Kidney Care division consists of its the United States dialysis and related lab services, its ancillary services and strategic initiatives, including its international operations, and its corporate administrative support. Its DMG division is a patient- and physician-focused integrated healthcare delivery and management company that provides medical services to members through capitation contracts. Its segments include U.S. dialysis and related lab services, DMG, and Other-Ancillary services and strategic initiatives. Its U.S. dialysis and related lab services line of business provide kidney dialysis services in the United States for patients suffering from chronic kidney failure, also known as end stage renal disease (ESRD). As of December 31, 2016, it had operated or provided administrative services to 154 outpatient dialysis centers.

FINANCIAL RATIOS  of  DaVita (DVA)

Valuation Ratios
P/E Ratio 15.1
Price to Sales 0.9
Price to Book 2.9
Price to Tangible Book
Price to Cash Flow 6.8
Price to Free Cash Flow 11.7
Growth Rates
Sales Growth Rate 7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 17.1%
Cap. Spend. - 3 Yr. Gr. Rate 6.1%
Financial Strength
Quick Ratio 7
Current Ratio 0
LT Debt to Equity 192.5%
Total Debt to Equity 196%
Interest Coverage 5
Management Effectiveness
Return On Assets 6.2%
Ret/ On Assets - 3 Yr. Avg. 4.9%
Return On Total Capital 6.3%
Ret/ On T. Cap. - 3 Yr. Avg. 4.6%
Return On Equity 18.5%
Return On Equity - 3 Yr. Avg. 13%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 27.8%
Gross Margin - 3 Yr. Avg. 28.4%
EBITDA Margin 17.7%
EBITDA Margin - 3 Yr. Avg. 16.1%
Operating Margin 12.8%
Oper. Margin - 3 Yr. Avg. 11.8%
Pre-Tax Margin 10.1%
Pre-Tax Margin - 3 Yr. Avg. 8.5%
Net Profit Margin 6%
Net Profit Margin - 3 Yr. Avg. 4.5%
Effective Tax Rate 30.6%
Eff/ Tax Rate - 3 Yr. Avg. 35.2%
Payout Ratio 0%

DVA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the DVA stock intrinsic value calculation we used $10876.634 million for the last fiscal year's total revenue generated by DaVita. The default revenue input number comes from 0001 income statement of DaVita. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our DVA stock valuation model: a) initial revenue growth rate of 6.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.6%, whose default value for DVA is calculated based on our internal credit rating of DaVita, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of DaVita.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of DVA stock the variable cost ratio is equal to 81.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for DVA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for DaVita.

Corporate tax rate of 27% is the nominal tax rate for DaVita. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the DVA stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for DVA are equal to 57.1%.

Life of production assets of 12.1 years is the average useful life of capital assets used in DaVita operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for DVA is equal to 49%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $4690.029 million for DaVita - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 166.9 million for DaVita is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of DaVita at the current share price and the inputted number of shares is $11.4 billion.

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COMPANY NEWS

▶ Do You Know What DaVita Incs (NYSE:DVA) P/E Ratio Means?   [Nov-13-18 02:32PM  Simply Wall St.]
▶ DaVita HealthCare: 3Q Earnings Snapshot   [04:13PM  Associated Press]
▶ DaVita Inc. 3rd Quarter 2018 Results   [04:01PM  PR Newswire]
▶ Stocks Rally On Election Results: Prop 8 Fail Boosts DaVita   [09:40AM  Investor's Business Daily]
▶ DaVita Q3 Earnings Preview   [07:17AM  Benzinga]
▶ DaVita Named to Dow Jones Sustainability World Index   [Oct-24-18 06:00AM  PR Newswire]
▶ This Denver company has spent the most money in the country opposing a ballot issue   [Oct-15-18 08:54AM  American City Business Journals]
▶ Top 5 Predictable Companies in Warren Buffett's Portfolio   [Oct-05-18 06:48PM  GuruFocus.com]
▶ DaVita Celebrates Recent Awards   [Oct-04-18 12:00PM  PR Newswire]
▶ Health company to pay $270M over improper billing practices   [Oct-01-18 08:42PM  Associated Press]
▶ DaVita settles medical retail fraud case with feds for $270 million   [04:00PM  American City Business Journals]
▶ DaVita 'deeply relieved' after California governor vetoes dialysis bill   [01:21PM  American City Business Journals]
▶ DaVita Responds to Senate Bill 1156 Veto   [09:40AM  PR Newswire]
▶ DaVita 'Well-Suited' to Drive Change in Health Care, CEO Says   [Sep-24-18 02:15PM  Bloomberg Video]
▶ DaVita Labs to open 150,000-square-foot DeLand campus, add 100+ jobs   [Sep-13-18 06:06PM  American City Business Journals]
▶ California dialysis bill could have big bottom-line impact for DaVita   [Aug-31-18 03:24PM  American City Business Journals]
▶ Wall Street in Red Thursday Morning   [Aug-30-18 03:53PM  GuruFocus.com]
▶ Nasdaq at Record High Wednesday   [Aug-29-18 01:18PM  GuruFocus.com]
▶ Heres how a Denver direct primary-care provider is spending its new $165M raise   [Aug-24-18 02:16PM  American City Business Journals]
▶ DaVita outsourcing most of pharmacy division   [09:18AM  American City Business Journals]
▶ DaVita HealthCare: 2Q Earnings Snapshot   [04:30PM  Associated Press]
▶ DaVita Inc. 2nd Quarter 2018 Results   [04:01PM  PR Newswire]
▶ DaVita Inc. divests pharmacy assets to Walgreens   [Jul-30-18 01:28PM  American City Business Journals]
▶ DaVita Recognized for Veteran Outreach   [06:00AM  PR Newswire]

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