DVADAVITA INC.
Services-Misc Health & Allied Services, NEC
- Revenue
- $13.6B
- 6.5% YoY
- Operating margin
- 15.0%
- 8.2% YoY
- EBITDA
- $2.8B
- 2.0% YoY
- Market cap
- $11.9B
- Employees
- —
- Net debt / EBITDA
- 3.7×
- $10.2B net debt
- AI in 10-K
- 1.9
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 2 of 7
- TSR below peersYes4 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$7M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo175% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo69% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyYes42% of assetsOver 40% of assets
- Shareholder dissentNo99% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo1.9 per 10K words · 54th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo3.7× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$11.9B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$35M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $11.6B | $11.6B | $12.1B | $12.8B | $13.6B | 6.5% |
| Operating income | $1.8B | $1.3B | $1.6B | $2.1B | $2.0B | 2.2% |
| Net income | $1.2B | $782M | $957M | $1.3B | $1.1B | 14% |
| Operating cash flow | $1.9B | $1.6B | $2.1B | $2.0B | $1.9B | 6.7% |
| Capex | $641M | $603M | $568M | $555M | $576M | 3.7% |
| Stock-based comp | $102M | $95M | $112M | $103M | $140M | 36% |
| Buybacks | $1.5B | $802M | $272M | $1.4B | $1.3B | 5.6% |
| Dividends | $0 | $0 | $0 | $0 | $0 |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $35M · 9
- Net
- −$35M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $18M | $19M | 97 | 113 |
| FY2024 | $22M | $21M | 127 | 95 |
| FY2023 | $7M | $5M | 89 | 93 |
| FY2022 | $3M | −$86M | 64 | 88 |
| FY2021 | $3M | −$13M | 97 | 110 |