Davita (DVA) FY2020 results: revenue $11.6 billion, up 1.4% on the year
Davita Inc. (DVA) reported revenue of $11.6 billion for fiscal 2020, the year ended 31 December 2020, up 1.4% on the year before. Net income was $774 million, down 4.6%, and diluted earnings per share $6.31. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2021.
Revenue
$11.6 billion
+1.4% on the year
FY2016FY2020
Operating margin
14.7%
14.4% a year earlier
FY2016FY2020
Net income
$774 million
-4.6% on the year
FY2016FY2020
Diluted EPS
$6.31
+19.7% on the year
FY2016FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
11,551
11,388
11,405
+1.4%
Operating income
1,695
1,643
1,526
+3.1%
Operating margin
14.7%
14.4%
13.4%
Interest expense
283
420
462
-32.6%
Pre-tax income
1,318
1,195
1,048
+10.3%
Income tax
314
280
258
+12.3%
Effective tax rate
23.8%
23.4%
24.6%
Net income
774
811
159
-4.6%
Net margin
6.7%
7.1%
1.4%
Diluted EPS
$6.31
$5.27
$0.92
+19.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,979
2,072
1,772
-4.5%
Capital expenditure
675
767
987
-12.0%
Free cash flow
1,304
1,306
785
-0.1%
Free cash flow margin
11.3%
11.5%
6.9%
Cash from investing
-825
2,995
-1,006
Cash from financing
-1,847
-4,696
-625
Depreciation and amortisation
617
601
575
+2.6%
Share-based compensation
91.5
67.8
73.1
+34.8%
Buybacks
1,458
2,384
1,162
-38.8%
Dividends paid
0.0
0.0
0.0
Diluted shares, weighted
123m
154m
172m
-20.3%
Shares outstanding at period end
110m
126m
166m
-12.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,384
2,133
3,703
-35.1%
Non-controlling interest
183
186
205
-1.4%
Redeemable equity
1,330
1,180
1,125
+12.7%
Debt
8,086
8,108
10,102
-0.3%
Operating lease liabilities
2,739
2,724
0.0
+0.5%
Other liabilities
3,267
2,980
3,975
+9.6%
Total liabilities and equity
16,989
17,311
19,110
-1.9%
Fixed assets
3,522
3,473
3,394
+1.4%
Goodwill
6,919
6,788
6,842
+1.9%
Intangible assets
167
136
119
+22.8%
Investments
52.3
48.1
38.4
+8.7%
Cash and equivalents
325
1,102
323
-70.5%
Receivables
1,824
1,796
1,859
+1.6%
Inventory
112
97.9
107
+14.0%
Other assets
4,068
3,871
6,428
+5.1%
Total assets
16,989
17,311
19,110
-1.9%
10-K for the year ended 31 December 2020, filed 12 February 2021: the filing.