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Side-by-side financial comparison of DaVita (DVA) and Vistra Corp. (VST). Click either name above to swap in a different company.
Vistra Corp. is the larger business by last-quarter revenue ($4.8B vs $3.6B, roughly 1.3× DaVita). DaVita runs the higher net margin — 6.5% vs 4.8%, a 1.6% gap on every dollar of revenue. On growth, Vistra Corp. posted the faster year-over-year revenue change (31.2% vs 12.3%). Over the past eight quarters, Vistra Corp.'s revenue compounded faster (23.3% CAGR vs 6.6%).
DaVita Inc. is an American company that provides kidney dialysis services through a network of 2,675 outpatient centers in the United States, serving 200,800 patients, and 367 outpatient centers in 11 other countries serving 49,400 patients. The company primarily treats end-stage renal disease (ESRD), which requires patients to undergo kidney dialysis, often 3 times per week for the rest of their lives unless they receive a kidney transplant via organ donation.
Vistra may refer to either of two companies:Vistra, a corporate services company based in Hong Kong Vistra Corp, an energy company based in Texas
DVA vs VST — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.6B | $4.8B |
| Net Profit | $234.2M | $233.0M |
| Gross Margin | — | — |
| Operating Margin | 15.5% | 9.9% |
| Net Margin | 6.5% | 4.8% |
| Revenue YoY | 12.3% | 31.2% |
| Net Profit YoY | 43.8% | -47.2% |
| EPS (diluted) | $3.22 | $0.55 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.6B | $4.8B | ||
| Q3 25 | $3.4B | $4.8B | ||
| Q2 25 | $3.4B | $3.8B | ||
| Q1 25 | $3.2B | $4.3B | ||
| Q4 24 | $3.3B | $3.7B | ||
| Q3 24 | $3.3B | $4.3B | ||
| Q2 24 | $3.2B | $3.6B |
| Q1 26 | $234.2M | — | ||
| Q4 25 | $234.2M | $233.0M | ||
| Q3 25 | $150.3M | $652.0M | ||
| Q2 25 | $199.3M | $327.0M | ||
| Q1 25 | $162.9M | $-268.0M | ||
| Q4 24 | $259.3M | $441.0M | ||
| Q3 24 | $214.7M | $1.9B | ||
| Q2 24 | $222.7M | $365.0M |
| Q1 26 | 15.5% | — | ||
| Q4 25 | 15.5% | 9.9% | ||
| Q3 25 | 14.8% | 21.7% | ||
| Q2 25 | 15.9% | 13.7% | ||
| Q1 25 | 13.6% | -2.8% | ||
| Q4 24 | 17.2% | 16.4% | ||
| Q3 24 | 16.4% | 59.6% | ||
| Q2 24 | 15.9% | 22.5% |
| Q1 26 | 6.5% | — | ||
| Q4 25 | 6.5% | 4.8% | ||
| Q3 25 | 4.4% | 13.6% | ||
| Q2 25 | 5.9% | 8.7% | ||
| Q1 25 | 5.1% | -6.3% | ||
| Q4 24 | 7.9% | 12.0% | ||
| Q3 24 | 6.6% | 43.5% | ||
| Q2 24 | 7.0% | 10.1% |
| Q1 26 | $3.22 | — | ||
| Q4 25 | $3.22 | $0.55 | ||
| Q3 25 | $2.04 | $1.75 | ||
| Q2 25 | $2.58 | $0.81 | ||
| Q1 25 | $2.00 | $-0.93 | ||
| Q4 24 | $3.08 | $1.09 | ||
| Q3 24 | $2.50 | $5.25 | ||
| Q2 24 | $2.50 | $0.90 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $700.7M | $785.0M |
| Total DebtLower is stronger | $10.2B | $15.8B |
| Stockholders' EquityBook value | $-651.1M | $5.1B |
| Total Assets | $17.5B | $41.5B |
| Debt / EquityLower = less leverage | — | 3.11× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $700.7M | — | ||
| Q4 25 | $700.7M | $785.0M | ||
| Q3 25 | $736.5M | $602.0M | ||
| Q2 25 | $739.4M | $458.0M | ||
| Q1 25 | $511.9M | $561.0M | ||
| Q4 24 | $846.0M | $1.2B | ||
| Q3 24 | $1.1B | $905.0M | ||
| Q2 24 | $437.2M | $1.6B |
| Q1 26 | $10.2B | — | ||
| Q4 25 | $10.2B | $15.8B | ||
| Q3 25 | $10.2B | $15.8B | ||
| Q2 25 | $10.1B | $15.5B | ||
| Q1 25 | $9.6B | $15.4B | ||
| Q4 24 | $9.2B | $15.4B | ||
| Q3 24 | $9.3B | $13.9B | ||
| Q2 24 | $8.5B | $13.9B |
| Q1 26 | $-651.1M | — | ||
| Q4 25 | $-651.1M | $5.1B | ||
| Q3 25 | $-571.9M | $5.2B | ||
| Q2 25 | $-369.6M | $4.8B | ||
| Q1 25 | $-267.1M | $4.8B | ||
| Q4 24 | $121.1M | $5.6B | ||
| Q3 24 | $386.7M | $5.4B | ||
| Q2 24 | $632.9M | $5.6B |
| Q1 26 | $17.5B | — | ||
| Q4 25 | $17.5B | $41.5B | ||
| Q3 25 | $17.6B | $38.0B | ||
| Q2 25 | $17.5B | $38.1B | ||
| Q1 25 | $17.1B | $38.2B | ||
| Q4 24 | $17.3B | $37.8B | ||
| Q3 24 | $17.5B | $37.9B | ||
| Q2 24 | $17.0B | $39.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.11× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.20× | ||
| Q4 24 | 75.76× | 2.77× | ||
| Q3 24 | 23.95× | 2.56× | ||
| Q2 24 | 13.35× | 2.49× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $1.4B |
| Free Cash FlowOCF − Capex | — | $596.0M |
| FCF MarginFCF / Revenue | — | 12.4% |
| Capex IntensityCapex / Revenue | — | 17.4% |
| Cash ConversionOCF / Net Profit | — | 6.15× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $540.7M | $1.4B | ||
| Q3 25 | $841.5M | $1.5B | ||
| Q2 25 | $324.2M | $572.0M | ||
| Q1 25 | $180.0M | $599.0M | ||
| Q4 24 | $547.6M | $1.4B | ||
| Q3 24 | $810.4M | $1.7B | ||
| Q2 24 | $798.8M | $1.2B |
| Q1 26 | — | — | ||
| Q4 25 | $395.3M | $596.0M | ||
| Q3 25 | $675.4M | $1.0B | ||
| Q2 25 | $203.1M | $-118.0M | ||
| Q1 25 | $36.8M | $-169.0M | ||
| Q4 24 | $377.0M | $923.0M | ||
| Q3 24 | $671.4M | $1.0B | ||
| Q2 24 | $674.1M | $698.0M |
| Q1 26 | — | — | ||
| Q4 25 | 10.9% | 12.4% | ||
| Q3 25 | 19.7% | 21.1% | ||
| Q2 25 | 6.0% | -3.1% | ||
| Q1 25 | 1.1% | -4.0% | ||
| Q4 24 | 11.4% | 25.2% | ||
| Q3 24 | 20.6% | 23.4% | ||
| Q2 24 | 21.2% | 19.4% |
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 17.4% | ||
| Q3 25 | 4.9% | 9.6% | ||
| Q2 25 | 3.6% | 18.4% | ||
| Q1 25 | 4.4% | 18.1% | ||
| Q4 24 | 5.2% | 11.7% | ||
| Q3 24 | 4.3% | 15.8% | ||
| Q2 24 | 3.9% | 13.8% |
| Q1 26 | — | — | ||
| Q4 25 | 2.31× | 6.15× | ||
| Q3 25 | 5.60× | 2.25× | ||
| Q2 25 | 1.63× | 1.75× | ||
| Q1 25 | 1.10× | — | ||
| Q4 24 | 2.11× | 3.07× | ||
| Q3 24 | 3.77× | 0.90× | ||
| Q2 24 | 3.59× | 3.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DVA
Segment breakdown not available.
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
