Filing Flows › Davita (DVA) › Q4 2025
Davita (DVA) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 11, 2026
Davita (DVA) reported revenue of $3.6B for the fourth quarter 2025 (Q4 2025), +10% from a year earlier and +6% from the quarter before. Operating margin was 15.5%, net earnings $234M (6.5% of revenue).
Davita, Q4 2025: revenue $3.6B (+10% year over year), operating margin 15.5%, net earnings $234M, operating cash flow $541M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.6B | +6% | +10% |
| Operating profit | $561M | +11% | -0.8% |
| Net earnings | $234M | +56% | -10% |
| Operating cash flow | $541M | -36% | -1% |
| Free cash flow | $308M | — | +10% |
What changed
Revenue was $3.6B in Q4 2025, up 10% year over year and up 6% from the previous quarter.
Operating profit was $0.56B, a 15.5% margin (down 1.7 points year over year). Operating profit fell $4.3M even though revenue rose $0.33B versus a year earlier, so costs grew faster than sales. Total costs grew 12% against revenue growth of 10%. The fastest-growing cost line was General & admin (+14%). Net earnings were $0.23B, down 10% year over year. The effective tax rate was 18.8%.
Operating cash flow was $0.54B (down 1% year over year), 163% of net income including minority interests. Non-cash charges added back $0.19B of depreciation and amortization and $0.04B of share-based compensation. After maintenance capital expenditures, net ($0.10B) and distributions to noncontrolling interests ($0.09B) and development capital expenditures ($0.04B), free cash flow as the company reports it was $0.31B.
Questions
What was Davita's revenue in the fourth quarter 2025?
Davita (DVA) reported revenue of $3.6B for the fourth quarter 2025 (Q4 2025), +10% from a year earlier and +6% from the quarter before.
Was Davita profitable in the fourth quarter 2025?
Operating profit was $561M (15.5% of revenue) and net earnings $234M.
Source: Davita 10-K on SEC EDGAR.