Fresenius Medical Care AG & Co. KGaA (DE:FME)
XETRA:FME
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Fresenius Medical Care AG & Co. KGaA
(XETRA:FME)
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Rating:57Neutral
Price Target:
€39.00
▲(0.80% Upside)
Action:Reiterated
Date:05/09/26
The score is held back primarily by weak technicals (price below all major moving averages with negative MACD and sub-50 RSI). Financial performance is steady with improving leverage and strong free cash flow, providing support, while valuation is neutral overall with a solid dividend yield offset by a mid-to-high P/E.
Positive Factors
Strong free cash flow generation
Sustained free cash flow near €1.8B and operating cash flow strength provide durable funding for capex, dividends, debt reduction, and strategic investments. High cash conversion (~65% of net income) supports financial flexibility across business cycles and cushions reimbursement pressures.
Negative Factors
Stagnant top‑line growth
A flat-to-declining revenue trend constrains long‑term operating leverage and scale benefits, forcing reliance on cost control, price/reimbursement improvements, or M&A to drive growth. Over 2–6 months this structural weak top‑line limits upside potential and strategic flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow generation
Sustained free cash flow near €1.8B and operating cash flow strength provide durable funding for capex, dividends, debt reduction, and strategic investments. High cash conversion (~65% of net income) supports financial flexibility across business cycles and cushions reimbursement pressures.
Read all positive factors
Fresenius Medical Care AG & Co. KGaA (FME) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€10.00B
Dividend Yield3.54%
Average Volume (3M)529.60K
Price to Earnings (P/E)22.5
Beta (1Y)0.56
Revenue Growth-0.69%
EPS Growth55.62%
CountryDE
Employees112,035
SectorGeneral
Sector StrengthN/A
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)3.28
Shares Outstanding268,564,640
10 Day Avg. Volume492,004
30 Day Avg. Volume529,597
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)0.89
Price to Sales (P/S)0.60
P/FCF Ratio6.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€38.19Price Target Upside-1.29% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering11
EPS Forecast (FY)4.01
Revenue Forecast (FY)€19.31B
Fresenius Medical Care AG & Co. KGaA Business Overview & Revenue Model
Company Description
Fresenius Medical Care AG & Co. KGaA provides dialysis care and related dialysis care services in Germany, North America, and internationally. It offers dialysis treatment and related laboratory and diagnostic services through a network of outpati...
How the Company Makes Money
FME primarily makes money through two broad, complementary business activities: (1) providing dialysis and related clinical services to patients, and (2) selling dialysis products to dialysis providers and healthcare systems. On the services side,...
Fresenius Medical Care AG & Co. KGaA Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
63
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 19.36B | 19.63B | 19.34B | 19.45B | 19.40B | 17.62B |
| Gross Profit | 5.02B | 5.03B | 4.76B | 4.93B | 5.31B | 5.08B |
| EBITDA | 3.47B | 3.34B | 3.21B | 2.93B | 3.22B | 3.42B |
| Net Income | 945.07M | 978.00M | 537.91M | 499.00M | 673.40M | 969.31M |
Balance Sheet | ||||||
| Total Assets | 31.47B | 31.00B | 33.57B | 33.93B | 35.75B | 34.37B |
| Cash, Cash Equivalents and Short-Term Investments | 1.24B | 1.73B | 1.45B | 1.54B | 1.44B | 1.62B |
| Total Debt | 11.03B | 13.70B | 10.98B | 12.05B | 13.21B | 13.32B |
| Total Liabilities | 17.26B | 16.72B | 17.80B | 19.10B | 20.30B | 20.39B |
| Stockholders Equity | 13.24B | 13.31B | 14.58B | 13.62B | 15.45B | 13.98B |
Cash Flow | ||||||
| Free Cash Flow | 1.79B | 1.77B | 1.69B | 1.94B | 1.44B | 1.64B |
| Operating Cash Flow | 2.75B | 2.68B | 2.39B | 2.63B | 2.17B | 2.49B |
| Investing Cash Flow | -767.31M | -693.55M | -84.94M | -544.23M | -734.73M | -1.20B |
| Financing Cash Flow | -1.72B | -1.43B | -2.57B | -1.86B | -1.62B | -1.02B |
Fresenius Medical Care AG & Co. KGaA Technical Analysis
Positive
38.69
Price Trends
37.08
Positive
37.38
Negative
39.30
Negative
Market Momentum
0.05
Negative
54.26
Neutral
37.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:FME, the sentiment is Positive. The current price of 38.69 is above the 20-day moving average (MA) of 36.32, above the 50-day MA of 37.08, and below the 200-day MA of 39.30, indicating a neutral trend. The MACD of 0.05 indicates Negative momentum. The RSI at 54.26 is Neutral, neither overbought nor oversold. The STOCH value of 37.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:FME.
Fresenius Medical Care AG & Co. KGaA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | €56.52B | 17.72 | 8.77% | 1.82% | -1.69% | -10.15% | |
66 Neutral | €2.37B | 36.10 | 6.69% | 1.50% | -0.06% | -38.81% | |
61 Neutral | €39.19B | 20.17 | 11.59% | 2.13% | -0.33% | 0.15% | |
57 Neutral | €10.00B | 22.49 | 7.16% | 3.54% | -0.69% | 55.62% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | €37.73B | 3.50 | -7.52% | 0.31% | -2.87% | 33.72% | |
49 Neutral | €14.58B | 65.09 | 6.05% | 0.30% | 3.20% | 70.35% |
* General Sector Average
DE:FME
Fresenius Medical Care AG & Co. KGaA
37.31
-11.96
-24.27%
DE:BAYN
Bayer
37.82
13.22
53.75%
DE:AFX
Carl Zeiss Meditec
26.40
-30.57
-53.66%
DE:MRK
Merck KGaA
128.35
15.27
13.50%
DE:SRT3
Sartorius
233.00
14.55
6.66%
DE:SHL
Siemens Healthineers AG
34.62
-11.37
-24.73%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.