Davita (DVA) Q1 FY2026 earnings: revenue $3.4 billion, up 6.0% on the year
Davita Inc. (DVA) reported revenue of $3.4 billion for Q1 FY2026, the quarter ended 31 March 2026, up 6.0% on the same quarter a year earlier. Net income was $198 million, up 21.2% on the year, and diluted earnings per share $2.87. The figures are the company's own, from the 10-Q it filed with the SEC on 5 May 2026.
Revenue
$3.4 billion
+6.0% on the year · -5.6% on the quarter
Q2 FY2024Q1 FY2026
Operating margin
14.1%
13.6% a year earlier
Q2 FY2024Q1 FY2026
Net income
$198 million
+21.2% on the year · -15.7% on the quarter
Q2 FY2024Q1 FY2026
Diluted EPS
$2.87
+43.5% on the year · -12.8% on the quarter
Q2 FY2024Q1 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 2 raised, 2 kept.
Revenue and operating income grew year on year: Revenue was $3.416 billion against $3.224 billion a year earlier and $3.620 billion in the fourth quarter. Operating income was $482 million, a 14.1% margin, against $439 million and 13.6% a year earlier.
Integrated kidney care swung to loss: Integrated kidney care had an operating loss of $19 million, against operating income of $46 million in the fourth quarter and a $29 million loss a year earlier. Its revenue was $116 million.
Treatment volume flat, normalized growth 0.1%: U.S. treatments totaled 7,029,525, or 91,650 a day, up 0.05% per day from the fourth quarter. Normalized non-acquired treatment growth against the first quarter of 2025 was 0.1%.
$ million except per share. Read moreFourth quarters are the year less the first three quarters. Free 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
Q1 FY2026
Q4 FY2025
Q1 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
321
541
180
-40.7%
+78.2%
Capital expenditure
102
145
143
-29.9%
-28.8%
Free cash flow
219
395
36.8
-44.6%
+495.4%
Free cash flow margin
6.4%
10.9%
1.1%
Cash from investing
-139
-163
-162
Cash from financing
-213
-415
-383
Depreciation and amortisation
178
180
176
-1.0%
+0.8%
Share-based compensation
28.2
38.4
29.8
-26.7%
-5.4%
Buybacks
196
274
510
-28.5%
-61.5%
Dividends paid
n/a
0.0
0.0
Diluted shares, weighted
69m
71m
81m
-3.3%
-15.3%
Shares outstanding at period end
64m
69m
77m
-6.3%
-16.9%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q1 FY2026
Q4 FY2025
Q1 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
-755
-651
-267
Non-controlling interest
279
277
261
+0.7%
+7.1%
Redeemable equity
1,525
1,532
1,667
-0.5%
-8.5%
Debt
10,626
10,273
9,738
+3.4%
+9.1%
Operating lease liabilities
2,162
2,176
2,161
-0.6%
+0.0%
Other liabilities
3,663
3,873
3,559
-5.4%
+2.9%
Total liabilities and equity
17,499
17,480
17,119
+0.1%
+2.2%
Fixed assets
2,755
2,813
2,901
-2.1%
-5.0%
Goodwill
7,582
7,545
7,416
+0.5%
+2.2%
Intangible assets
229
222
205
+3.1%
+11.6%
Investments
61.8
65.3
105
-5.4%
-40.9%
Cash and equivalents
644
676
439
-4.8%
+46.8%
Receivables
2,459
2,415
2,322
+1.8%
+5.9%
Inventory
142
161
151
-11.8%
-5.9%
Other assets
3,626
3,583
3,581
+1.2%
+1.3%
Total assets
17,499
17,480
17,119
+0.1%
+2.2%
Questions
What was Davita's revenue in Q1 FY2026?
Davita (DVA) reported revenue of $3.4 billion for Q1 FY2026, the quarter ended 31 March 2026, up 6.0% on the same quarter a year earlier.
How much did Davita earn in Q1 FY2026?
Net income for Q1 FY2026 was $198 million, up 21.2% on the year, and diluted earnings per share $2.87.
When did Davita report Q1 FY2026 results?
Davita filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 5 May 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 31 March 2026, filed 5 May 2026: the filing.