Pricing Log in Create free account
Saturday 17 October 2026 Export FMS’s income statement to Excel — free account

Fresenius Medical Care AG & Co. KGaA

FMS Healthcare Medical Care Facilities

Fresenius Medical Care AG & Co. KGaA’s revenue for fiscal 2025 (year ended December 2025) was $22.2 billion, up 6.13% from fiscal 2024. In the quarter to June 2026, revenue grew 3.89%, EPS grew 6.82%, free cash flow grew 1.57% and total debt rose 5.57%, each against the same quarter a year earlier. Dividend growth for three consecutive years.

22.17 0.04 +0.18%
Market cap
$11.8B
P/E
11.5×
Fwd P/E
12.5×
Dividend yield
3.93%
F-score
8/9
Altman Z
1.88
Beneish M
−2.77
Dividend safety
42/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.87%

Capital & Financial Ratios $m

Market Cap 11,780.00
Revenue 22,673.94
Net Income 1,355.88
Free Cash Flow 2,052.84
Net Debt 7,111.72
Current Ratio 1.07
Debt/Equity 0.56
P/E ratio 11.49
Fwd P/E 12.50
P/S ratio 0.52
P/B ratio 0.76
Past 5Y EPS Growth (3.41%) (below 0%: weak)
This Y EPS Growth (7.68%) (below 0%: weak)
Next Y EPS Growth 4.27%
Next Y revenue growth (39.05%) (below 0%: weak)
Next 5Y EPS Growth 3.48%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.8×, against a ten-year median of 1.4×; over the ten years it ranged from 0.8× in 2022 to 2.1× in 2018.
P/E against its own 10 years 10.84%
10-year low 10-year high
P/S against its own 10 years 6.45%
10-year low 10-year high
P/B against its own 10 years 17.03%
10-year low 10-year high
EV/Sales against its own 10 years 4.05%
10-year low 10-year high
EV/FCF against its own 10 years 15.33%
10-year low 10-year high

Dividends

Payout Ratio 0.45
Annual Dividend Rate 0.87
Annual Dividend Yield 3.93%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.87
0.87
2025 1.04
0.82
2024 0.64
0.64
2023 0.60
0.60
2022 0.71
0.71
2021 0.82
0.82
2020 0.72
0.72
2019 0.65
0.65
2018 0.62
0.62
2017 0.53
0.53
2016 0.45
0.45
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,783 1,746 2,314 1,685
Receivables 3,936 3,688 3,592 4,029
Inventory 2,359 2,238 2,422 2,711
Other 549 174 4 —
9,418 8,573 8,936 8,940
2023 2024 2025 Q'26
Payables 958 1,065 945 1,037
ST’ Debt 1,022 29 1,825 2,025
Other 3,759 3,587 3,476 4,334
6,615 6,125 7,066 8,345

Compound Annual Growth %

10y 5y 3y
Sales 2.87% 1.71% 2.81%
Cash Flow 4.46% (8.91%) 9.93%
Earnings 0.73% (3.61%) 15.98%
Book Value 4.41% 2.78% (0.24%)

Revenue $m

Mar Jun Sep Dec Year
’26 5,398 5,651 — — —
’25 5,143 5,440 5,710 5,915 22,207
’24 5,129 5,133 5,234 5,427 20,923
’23 5,050 5,261 5,373 5,371 21,055
’22 5,104 5,062 5,133 5,139 20,438
’21 5,076 5,205 5,237 5,326 20,845
’20 4,951 5,018 5,160 5,272 20,400
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 266 999 — — —
’25 172 893 898 1,070 3,033
’24 138 475 1,096 873 2,582
’23 153 1,101 825 767 2,845
’22 178 790 610 705 2,284
’21 250 1,110 787 799 2,945
’20 644 2,553 1,069 570 4,836
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 47 726 — — —
’25 22 715 664 615 2,017
’24 (2) 312 903 628 1,841
’23 3 929 680 511 2,122
’22 (1) 620 471 469 1,559
’21 35 867 583 479 1,963
’20 335 2,315 756 246 3,652
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.25 0.47 — — —
’25 0.26 0.44 0.55 0.66 1.90
’24 0.13 0.34 0.40 0.12 0.98
’23 0.16 0.26 0.16 0.34 0.92
’22 0.30 0.27 0.39 0.24 1.21
’21 0.51 0.45 0.55 0.45 1.96
’20 0.52 0.66 0.71 0.36 2.26
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 38.05 39.46 31.18 30.99 29.17 29.71 12.79 15.76 17.93 22.05

Analyst estimates 2026–2028

Powerpack
High 47.52 52.96 57.94 42.75 46.55 43.33 35.04 27.72 24.31 30.46
People
People Employees 109,319 114,000 112,658 120,659 125,364 122,909 1,235 1,358 1,384 1,488
Revenue/emp, $m 0.16 0.18 0.17 0.16 0.16 0.17 16.55 15.50 15.12 14.92
Income, $m
Income, $m Revenue 17,911 20,101 19,542 19,574 20,400 20,845 20,438 21,055 20,923 22,207
Gross margin, % 32.27 33.76 31.15 30.87 31.01 28.82 27.38 25.32 24.60 25.62
EBT 2,232 2,270 3,232 2,061 2,212 1,860 1,285 1,118 1,144 1,711
EBT margin, % 12.46 11.29 16.54 10.53 10.84 8.92 6.29 5.31 5.47 7.70
Net income 1,549 1,757 2,629 1,611 1,640 1,442 942 793 802 1,348
Depreciation 776 831 856 1,784 2,040 1,921 1,937 1,896 1,885 1,698
Per share, $
Per share, $ Revenue 29.29 32.78 31.87 32.33 34.69 35.58 34.85 35.88 35.66 38.13
Earnings 2.03 2.36 3.80 2.22 2.26 1.96 1.21 0.92 0.98 1.90
Cash flow 3.50 4.04 3.97 4.75 8.22 5.03 3.89 4.85 4.40 5.21
Capex (1.66) (1.55) (1.93) (2.06) (2.01) (1.68) (1.24) (1.23) (1.26) (1.75)
Free cash flow 1.84 2.49 2.04 2.69 6.21 3.35 2.66 3.62 3.14 3.46
Book value 18.74 19.96 24.85 24.47 23.95 28.23 27.75 27.35 29.08 27.75
Shares, m 611 613 613 605 588 586 586 587 587 582
Valuation, ×
Valuation, × P/E 20.96 22.27 8.46 16.67 18.47 16.56 13.43 23.10 22.87 12.47
P/S 1.45 1.60 1.02 1.14 1.20 0.91 0.46 0.59 0.64 0.62
P/B 2.26 2.62 1.30 1.51 1.74 1.15 0.58 0.78 0.78 0.86
EV/Sales 1.88 1.96 1.34 1.60 1.58 1.31 0.84 0.91 0.88 0.89
EV/FCF 29.90 25.81 20.97 19.25 8.82 13.96 10.97 9.07 9.97 9.83
Cash, $m
Cash, $m Operating cash flow 2,140 2,477 2,435 2,875 4,836 2,945 2,284 2,845 2,582 3,033
Capex (1,012) (951) (1,184) (1,247) (1,184) (982) (725) (723) (742) (1,017)
Free cash flow 1,128 1,527 1,251 1,628 3,652 1,963 1,559 2,122 1,841 2,017
Balance, $m
Balance, $m Working capital 2,277 1,214 1,864 177 1,274 840 1,829 2,803 2,448 1,871
Total debt 8,572 8,418 8,912 10,167 9,010 10,140 8,991 8,555 6,804 8,265
Net debt 7,824 7,313 6,378 9,038 7,775 8,387 7,649 6,772 5,058 5,950
Shareholders’ equity 11,457 12,239 15,237 14,815 14,086 16,539 16,277 16,047 17,063 16,160
Returns, %
Returns, % ROA 4.75 5.35 8.05 3.96 3.64 2.98 1.81 1.45 1.59 3.10
ROIC 8.55 8.54 10.37 6.66 7.53 5.49 4.16 4.06 4.26 5.84
ROE 11.33 12.21 17.04 8.94 9.20 7.49 4.32 3.34 3.52 6.66
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Fresenius Medical Care AG & Co. KGaA vs peers in Medical Care Facilities (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
THC Tenet Healthcare Corporation $22.2B 10.3× 6.4× +14.61% (above 0%: growing) +212.97% (above 0%: growing) −43.88% (below 0%: shrinking) 46.78% 24.85% Compare
EHC Encompass Health Corporation $12.6B 20.6× 16.8× +9.58% (above 0%: growing) +9.93% (above 0%: growing) −45.01% (below 0%: shrinking) 100.00% 17.85% Compare
DVA DaVita Inc. $12.1B 15.0× 13.1× +5.17% (above 0%: growing) +56.49% (above 0%: growing) +49.36% (above 0%: growing) 32.70% 16.29% Compare
FMS Fresenius Medical Care AG & Co. KGaA $11.8B 11.5× 12.5× +3.89% (above 0%: growing) +6.82% (above 0%: growing) +1.57% (above 0%: growing) 26.95% 9.58%
UHS Universal Health Services, Inc. $11.0B 7.5× 6.1× +8.27% (above 0%: growing) +9.47% (above 0%: growing) −23.78% (below 0%: shrinking) 90.87% 11.14% Compare
ENSG The Ensign Group, Inc. $10.4B 26.9× 24.1× +17.33% (above 0%: growing) +16.22% (above 0%: growing) +12.24% (above 0%: growing) 16.65% 8.50% Compare
PACS PACS Group, Inc. $7.6B 27.6× 16.8× +9.07% (above 0%: growing) +45.45% (above 0%: growing) +220.51% (above 0%: growing) 17.07% 7.66% Compare
CHE Chemed Corporation $6.7B 25.7× 20.4× +8.80% (above 0%: growing) +42.78% (above 0%: growing) −43.51% (below 0%: shrinking) 32.90% 13.25% Compare
CON Concentra Group Holdings Parent, Inc. $5.0B 24.9× 17.0× +10.03% (above 0%: growing) +45.71% (above 0%: growing) +91.62% (above 0%: growing) 31.70% 18.99% Compare
Median of peers $10.7B 22.7× 16.8× +9.33% +44.12% −5.77% 32.80% 14.77%

All 55 Medical Care Facilities stocks →

Fresenius Medical Care AG & Co. KGaA (FMS) key facts

  • Strength: Fresenius Medical Care AG & Co. KGaA’s revenue for fiscal 2025 (year ended December 2025) was $22.2 billion, up 6.13% from fiscal 2024.
  • Strength: Net income was $1.3 billion, or $1.90 per share (basic), a net margin of 4.98%.
  • Fresenius Medical Care AG & Co. KGaA (FMS) is a Medical Care Facilities company in the Healthcare sector, traded in the US as an ADR.
  • As of October 16, 2026, FMS traded at $22.17, a market capitalization of $11.8 billion.
  • At that price the stock trades at 11.5× trailing-twelve-month earnings and 0.5× sales; its P/E is higher than 11% of its own readings over the past ten years.
  • Fresenius Medical Care AG & Co. KGaA pays an annual dividend of $0.87 per share, a yield of 3.93%, with a payout ratio of 45.2%.
  • Return on equity was 6.66% and debt-to-equity 0.56.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 1.88 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Fresenius Medical Care AG & Co. KGaA (FMS) Latest News

No news at this impact. Lower the threshold for more.
stockrow.com/FMS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com