Fresenius Medical Care AG & Co. KGaA (FMS) vs HCA Healthcare, Inc. (HCA)

Fresenius Medical Care AG & Co. KGaA and HCA Healthcare, Inc. are both Medical Care Facilities companies. HCA Healthcare, Inc. is the larger, with a market value of $101.4B against $11.8B — 8.6× the size. Fresenius Medical Care AG & Co. KGaA trades at the lower P/E: 11.5× against 15.3×. HCA Healthcare, Inc. grew revenue faster over the last twelve months: 7.31% against 6.74%. HCA Healthcare, Inc. has the higher net margin (8.77% vs 4.78%) and the higher return on invested capital (16.7% vs 5.78%). Both pay a dividend; Fresenius Medical Care AG & Co. KGaA yields more (3.93% vs 0.67%). Across the 22 metrics below, Fresenius Medical Care AG & Co. KGaA leads on 13 and HCA Healthcare, Inc. on 9.

Valuation

Metric FMS HCA Medical Care Facilities median
P/E 11.49 15.32 20.56
P/S 0.52 1.29 0.85
P/B 0.76 n/m 2.84
Price to free cash flow 5.80 16.83 13.73
EV/EBITDA 4.88 9.44 10.21
EV/Sales 0.84 1.92 1.32
Earnings yield 8.71% 6.53% 2.25%
Free cash flow yield 17.25% 5.94% 4.16%

Profitability

Metric FMS HCA Medical Care Facilities median
Gross margin 26.32% 85.26% 30.78%
Operating margin 9.31% 15.56% 5.74%
Net margin 4.78% 8.77% 2.32%
Free cash flow margin 9.05% 7.69% 5.46%
Return on equity 6.77% (307.62%) 8.76%
Return on assets 3.01% 11.14% 2.18%
Return on invested capital 5.78% 16.68% 5.01%

Growth

Metric FMS HCA Medical Care Facilities median
Revenue growth (TTM) 6.74% 7.31% 7.12%
EPS growth (last fiscal year) 93.88% 28.77% 17.46%
Revenue growth, 5-year CAGR 1.71% 7.97% 9.58%
Net income growth, 5-year CAGR (3.61%) 12.56% 0.00%

Health

Metric FMS HCA Medical Care Facilities median
Debt to equity 0.56 (15.49) 0.37
Current ratio 1.07 0.99 1.20
Net debt to EBITDA 1.58 2.91 1.07

Dividend

Metric FMS HCA Medical Care Facilities median
Dividend yield 3.93% 0.67% 0.63%
Payout ratio 0.45 0.10 0.13

Size

Metric FMS HCA Medical Care Facilities median
Market cap 11.78b 101.43b 1.47b

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