CHE vs DVA: Chemed and DaVita HealthCare Partners compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- DaVita HealthCare Partners is the larger company, worth $11.5B, about 1.7 times Chemed.
- Chemed grew revenue faster over the last year (+8.8% vs +5.2%).
- DaVita HealthCare Partners keeps more of each dollar of revenue as operating profit (15.2% vs 13.5%).
- On earnings, DaVita HealthCare Partners is the cheaper stock (17.3x vs 27.9x).
- Chemed's price assumes faster free cash flow growth: about 6% a year, against -6% for DaVita HealthCare Partners (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | CHE | DVA |
|---|---|---|
| Market cap | $6.8B | $11.5B |
| Share price | $499.82 | $179.25 |
| Revenue (last fiscal year) | $2.5B | $13.6B |
| Free cash flow (last fiscal year) | $325M | $1.3B |
| Revenue growth, last year | +8.8% | +5.2% |
| Revenue growth per year, last 5 fiscal years | +4.3% | +4.1% |
| Operating margin | 13.5% | 15.2% |
| Net margin | 10.6% | 6.0% |
| Return on equity | 33.1% | — |
| P/E (trailing) | 27.9x | 17.3x |
| Price / free cash flow | 20.9x | 8.80x |
| EV / EBITDA | 15.7x | 8.69x |
| FCF growth the price implies | 5.6% | -5.9% |
| Dividend yield | 0.46% | — |
| Debt / equity | 0.90x | — |
| Fundamental grade | C | C |
| Superinvestors holding it | 3 | 3 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Chemed
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $2.1B | $250M | 16.0% |
| 2022 | $2.1B | $253M | 16.1% |
| 2023 | $2.3B | $273M | 15.0% |
| 2024 | $2.4B | $368M | 15.1% |
| 2025 | $2.5B | $325M | 13.4% |
DaVita HealthCare Partners
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $11.6B | $1.3B | 15.5% |
| 2022 | $11.6B | $961M | 11.5% |
| 2023 | $12.1B | $1.5B | 13.2% |
| 2024 | $12.8B | $1.5B | 16.3% |
| 2025 | $13.6B | $1.3B | 15.0% |
Where the revenue comes from
Chemed · by segments, 2025
VITAS$1.6B64%
Roto-Rooter$900M36%
DaVita HealthCare Partners · by segments, 2025
U S Dialysis$11.7B86%
Other - Ancillary services$1.9B14%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open CHE in InvestinglyQuestions
Which is bigger, Chemed or DaVita HealthCare Partners?
DaVita HealthCare Partners (DVA), at $11.5B against $6.8B.
Is CHE or DVA cheaper?
By trailing P/E, DaVita HealthCare Partners (17.3x) is cheaper than Chemed (27.9x). A lower multiple can also mean the market expects less growth.
Which grows faster, CHE or DVA?
Chemed: revenue grew +8.8% over the last year, against +5.2%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.