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Fresenius SE & Co. KGaA
(XETRA:FRE5EN)
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Rating:66Neutral
Price Target:
€51.00
▲(16.44% Upside)
Action:Reiterated
Date:08/10/26
The score is driven primarily by improved fundamentals: a clear profitability recovery and meaningful deleveraging strengthen the financial profile. Offsetting this, free cash flow is positive but weakening and cash conversion is relatively soft, reducing confidence in the durability of the recovery. Technicals are supportive with strong trend/momentum, but stretched RSI/Stoch readings add near-term risk, while valuation is reasonable rather than compelling.
Positive Factors
Recurring, sticky revenue
Fresenius’s core dialysis and hospital services generate recurring, payer-reimbursed treatment fees and repeat product sales. This creates predictable cash flows and patient stickiness, sustaining revenue visibility over months and supporting long-term service scale and cross-selling of products to care sites.
Negative Factors
Weakening free cash flow
Although FCF is positive, the decline and weak cash conversion versus net income reduce internal funding flexibility. Persistently lower FCF limits capacity for debt reduction, reinvestment or dividend growth and raises sensitivity to working capital swings or higher capex requirements over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring, sticky revenue
Fresenius’s core dialysis and hospital services generate recurring, payer-reimbursed treatment fees and repeat product sales. This creates predictable cash flows and patient stickiness, sustaining revenue visibility over months and supporting long-term service scale and cross-selling of products to care sites.
Read all positive factors
Fresenius SE & Co. KGaA (FRE5EN) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€26.25B
Dividend Yield2.23%
Average Volume (3M)750.62K
Price to Earnings (P/E)17.1
Beta (1Y)0.86
Revenue Growth5.30%
EPS Growth35.29%
CountryDE
Employees178,486
SectorGeneral
Sector StrengthN/A
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)2.75
Shares Outstanding563,237,300
10 Day Avg. Volume787,875
30 Day Avg. Volume750,621
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)1.44
Price to Sales (P/S)1.21
P/FCF Ratio23.03
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€55.28Price Target Upside26.22% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)3.61
Revenue Forecast (FY)€23.73B
Fresenius SE & Co. KGaA Business Overview & Revenue Model
Company Description
Fresenius SE & Co. KGaA operates as a diverse healthcare enterprise, supplying a comprehensive array of products and services primarily focused on dialysis, hospital management, and outpatient medical care. Its activities are structured across fou...
How the Company Makes Money
Fresenius makes money primarily by selling healthcare services and healthcare products through its operating businesses. A major revenue stream comes from providing dialysis treatment and related care to patients, where Fresenius earns fees (typic...
Fresenius SE & Co. KGaA Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
71
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 23.41B | 22.87B | 21.83B | 21.07B | 21.33B | 37.08B |
| Gross Profit | 5.91B | 5.69B | 5.38B | 4.97B | 5.20B | 9.81B |
| EBITDA | 3.64B | 3.75B | 3.13B | 2.69B | 3.09B | 6.93B |
| Net Income | 1.52B | 1.26B | 471.00M | -594.00M | 1.37B | 1.82B |
Balance Sheet | ||||||
| Total Assets | 41.84B | 41.40B | 43.55B | 45.28B | 76.42B | 71.96B |
| Cash, Cash Equivalents and Short-Term Investments | 1.28B | 1.58B | 2.05B | 2.56B | 2.35B | 2.75B |
| Total Debt | 11.42B | 11.93B | 13.58B | 15.83B | 27.76B | 27.16B |
| Total Liabilities | 21.45B | 21.63B | 23.26B | 25.63B | 44.20B | 42.67B |
| Stockholders Equity | 19.70B | 19.10B | 19.54B | 19.00B | 20.41B | 19.00B |
Cash Flow | ||||||
| Free Cash Flow | 1.45B | 1.20B | 1.52B | 3.32B | 2.28B | 3.03B |
| Operating Cash Flow | 2.96B | 2.69B | 2.45B | 4.46B | 4.20B | 5.08B |
| Investing Cash Flow | -774.00M | -942.00M | -510.00M | -3.19B | -2.61B | -2.82B |
| Financing Cash Flow | -2.17B | -2.42B | -2.18B | -1.38B | -1.60B | -1.45B |
Fresenius SE & Co. KGaA Technical Analysis
Positive
43.80
Price Trends
42.83
Positive
41.24
Positive
44.11
Positive
Market Momentum
1.24
Positive
63.93
Neutral
28.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:FRE5EN, the sentiment is Positive. The current price of 43.8 is below the 20-day moving average (MA) of 45.71, above the 50-day MA of 42.83, and below the 200-day MA of 44.11, indicating a bullish trend. The MACD of 1.24 indicates Positive momentum. The RSI at 63.93 is Neutral, neither overbought nor oversold. The STOCH value of 28.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:FRE5EN.
Fresenius SE & Co. KGaA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | €239.88M | 8.31 | 11.54% | 0.94% | 2.94% | -14.28% | |
72 Outperform | €1.77B | 12.12 | 10.62% | 2.35% | 6.37% | 71.55% | |
66 Neutral | €26.25B | 17.12 | 7.89% | 2.40% | 5.30% | 35.29% | |
64 Neutral | €10.82B | 12.33 | 7.21% | 3.44% | -0.47% | 48.60% | |
60 Neutral | €1.41B | 43.42 | 4.19% | 1.82% | ― | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | €990.69M | 23.13 | 3.04% | 1.55% | 4.91% | 11.71% |
* General Sector Average
DE:FRE5EN
Fresenius SE & Co. KGaA
47.08
0.80
1.72%
DE:COP
CompuGroup Medical
26.80
3.64
15.70%
DE:DRW3
Draegerwerk AG & Co. KGaA
110.80
43.16
63.80%
DE:FME
Fresenius Medical Care AG & Co. KGaA
40.93
-0.99
-2.37%
DE:MED
MEDICLIN
5.05
1.96
63.64%
DE:RHK
RHON-KLINIKUM AG
14.80
3.09
26.40%
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.