DaVita Inc (DVA) is undervalued and HCA Healthcare Inc (HCA) is undervalued.
Against our estimates of intrinsic value, DVA trades at the wider discount: a margin of safety of +35%, against +35% for HCA.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.0% (average of 3 methods) values the shares at $284.80; the price of $183.72 is 35% below that value, and 83% of that value comes from beyond year five.
Leak Score 56/100 on 2 of 12 signals
Discounting its cash flows at 8.7% (average of 3 methods) values the shares at $669.90; the price of $438.12 is 35% below that value, and 77% of that value comes from beyond year five.
Leak Score 100/100 on 7 of 12 signals
| Metric | DVA | HCA |
|---|---|---|
| Verdict | Undervalued | Undervalued |
| Price | $183.72 | $438.12 |
| Intrinsic value | $284.80 | $669.90 |
| Margin of safety | +35% | +35% |
| Leak Score | 56/100 (2/12) | 100/100 (7/12) |
| Market cap | $11.7B | $94.9B |
| Revenue growth, 5 years | 3.4% | 8.0% |
| Operating margin | 14.9% | 15.5% |
| Net margin | 5.9% | 8.8% |
| Return on equity | 635.3% | — |
| P/E | 15.5x | 14.7x |
| Forward P/E | 10.8x | 13.7x |
| Dividend yield | — | 0.6% |