Davita (DVA) Q2 FY2026 earnings: revenue $3.6 billion, up 5.2% on the year

Davita Inc. (DVA) reported revenue of $3.6 billion for Q2 FY2026, the quarter ended 30 June 2026, up 5.2% on the same quarter a year earlier. Net income was $265 million, up 33.1% on the year, and diluted earnings per share $4.02. The figures are the company's own, from the 10-Q it filed with the SEC on 4 August 2026.

Revenue

$3.6 billion

+5.2% on the year · +4.1% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

16.3%

15.9% a year earlier

Q3 FY2024Q2 FY2026

Net income

$265 million

+33.1% on the year · +34.4% on the quarter

Q3 FY2024Q2 FY2026

Diluted EPS

$4.02

+55.8% on the year · +40.1% on the quarter

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 2 kept.

Revenue, operating income and EPS rose: Revenue was $3.554 billion, operating income $579 million and diluted EPS $4.02, against $3.416 billion, $482 million and $2.87 in the first quarter of 2026.
Treatments per day rose 1.09%: U.S. treatments were 7,226,600, averaging 92,649 a day, up 1.09% per day from the first quarter. Treatment days were 78.0, against 76.7 in the first quarter.
Revenue per treatment eased sequentially: Revenue per treatment was $415.87, against $417.59 in the first quarter, a decrease of $1.72. Year to date it was $416.71, up $14.33 from $402.38.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	3,554	3,416	3,380	+4.1%	+5.2%
Operating income	579	482	538	+20.2%	+7.7%
Operating margin	16.3%	14.1%	15.9%
Pre-tax income	435	341	369	+27.5%	+17.9%
Income tax	91.8	66.2	93.7	+38.7%	-2.0%
Effective tax rate	21.1%	19.4%	25.4%
Net income	265	198	199	+34.4%	+33.1%
Net margin	7.5%	5.8%	5.9%
Diluted EPS	$4.02	$2.87	$2.58	+40.1%	+55.8%

$ million except per share.

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	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	490	321	324	+52.7%	+51.1%
Capital expenditure	170	102	121	+66.5%	+40.2%
Free cash flow	320	219	203	+46.4%	+57.6%
Free cash flow margin	9.0%	6.4%	6.0%
Cash from investing	-194	-139	-67.2
Cash from financing	-270	-213	4.4
Depreciation and amortisation	168	178	175	-5.6%	-3.9%
Share-based compensation	26.0	28.2	32.8	-7.6%	-20.7%
Buybacks	181	196	284	-7.6%	-36.0%
Dividends paid	n/a	n/a	0.0
Diluted shares, weighted	66m	69m	77m	-4.0%	-14.6%
Shares outstanding at period end	64m	64m	74m	-0.4%	-13.8%

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	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	-765	-755	-370
Non-controlling interest	283	279	262	+1.4%	+8.2%
Redeemable equity	1,561	1,525	1,661	+2.4%	-6.0%
Debt	10,781	10,626	10,261	+1.5%	+5.1%
Operating lease liabilities	2,186	2,162	2,125	+1.1%	+2.9%
Other liabilities	3,663	3,663	3,554	+0.0%	+3.1%
Total liabilities and equity	17,709	17,499	17,493	+1.2%	+1.2%
Fixed assets	2,749	2,755	2,854	-0.2%	-3.7%
Goodwill	7,591	7,582	7,466	+0.1%	+1.7%
Intangible assets	229	229	212	-0.1%	+8.1%
Investments	58.3	61.8	69.7	-5.7%	-16.4%
Cash and equivalents	669	644	708	+3.8%	-5.6%
Receivables	2,467	2,459	2,441	+0.3%	+1.1%
Inventory	152	142	146	+7.0%	+3.6%
Other assets	3,795	3,626	3,595	+4.6%	+5.5%
Total assets	17,709	17,499	17,493	+1.2%	+1.2%

Questions

What was Davita's revenue in Q2 FY2026?

Davita (DVA) reported revenue of $3.6 billion for Q2 FY2026, the quarter ended 30 June 2026, up 5.2% on the same quarter a year earlier.

How much did Davita earn in Q2 FY2026?

Net income for Q2 FY2026 was $265 million, up 33.1% on the year, and diluted earnings per share $4.02.

When did Davita report Q2 FY2026 results?

Davita filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 4 August 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2,944	2,818	2,927	2,949	2,917	2,873	3,000	3,121	3,146	3,071	3,187	3,264	3,295	3,224	3,380	3,420	3,620	3,416	3,554	3,578
Operating income	389	338	433	312	256	312	405	496	390	484	506	535	565	439	538	506	561	482	579	499
Operating margin	13%	12%	15%	11%	9%	11%	14%	16%	12%	16%	16%	16%	17%	14%	16%	15%	16%	14%	16%	14%
Pre-tax income	315	263	349	207	147	215	295	378	289	372	371	373	414	286	369	309	383	341	435	359
Tax rate	21%	22%	18%	21%	23%	20%	17%	18%	20%	18%	19%	21%	16%	19%	25%	22%	20%	19%	21%	25%
Net income	187	162	225	105	68.1	116	179	247	151	240	223	215	259	163	199	150	234	198	265	223
Net margin	6%	6%	8%	4%	2%	4%	6%	8%	5%	8%	7%	7%	8%	5%	6%	4%	6%	6%	7%	6%
Diluted EPS	$1.81	$1.61	$2.30	$1.13	$0.74	$1.25	$1.91	$2.62	$1.62	$2.65	$2.50	$2.50	$3.09	$2.00	$2.58	$2.04	$3.29	$2.87	$4.02	$3.40
Operating cash flow	530	322	188	711	344	463	450	661	485	-135	799	810	548	180	324	842	541	321	490	519
Capital expenditure	190	123	142	144	194	148	124	137	159	121	125	139	171	143	121	166	145	102	170	159
Free cash flow	340	199	45.8	567	150	315	326	524	326	-256	674	671	377	36.8	203	675	395	219	320	359
Buybacks	656	236	381	185	0.0	0.0	0.0	0.0	272	251	362	408	365	510	284	240	274	196	181	73.0
Dividends paid	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	0.0	0.0	n/a	n/a	n/a
Shares outstanding	97m	95m	92m	90m	90m	91m	91m	91m	89m	90m	85m	83m	81m	77m	74m	71m	69m	64m	64m	63m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* 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 30 June 2026, filed 4 August 2026: the filing.