Fresenius Medical Care (FMS) AI Stock Analysis

• Market Cap: $12.47B
• Dividend Yield: 3.29%
• Average Volume (3M): 414.15K
• Price to Earnings (P/E): 15.5
• Beta (1Y): 0.44
• Revenue Growth: 4.09%
• EPS Growth: 13.17%
• Country: US
• Employees: 112,035
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Care Facilities
• EPS (TTM): 0.63
• Shares Outstanding: 586,826,900
• 10 Day Avg. Volume: 358,669
• 30 Day Avg. Volume: 414,149
• PEG Ratio: 3.12
• Price to Book (P/B): 0.88
• Price to Sales (P/S): 0.66
• P/FCF Ratio: 7.62
• Enterprise Value/Market Cap: 2.19
• Enterprise Value/Revenue: 1.39
• Enterprise Value/Gross Profit: 5.57
• Enterprise Value/Ebitda: 10.07
• 1Y Price Target: $28.00
• Price Target Upside: 29.45% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): 2.45
• Revenue Forecast (FY): $23.40B

• Rating: 65 Neutral
• Price Target: $26.00 ▲(20.20% Upside)

Fresenius Medical Care's overall score is driven by strong earnings call performance and fair valuation, offset by technical analysis indicating bearish trends and financial performance challenges. The company's strategic initiatives and share buyback program are positive, but operational and market challenges remain.

Positive Factors

Strong Organic Revenue Growth

The 10% organic revenue growth indicates robust demand for Fresenius Medical Care's products and services, enhancing its market position and supporting long-term revenue stability.

FME25+ Program Savings

The FME25+ program's sustainable savings improve operational efficiency and margin sustainability, enhancing long-term profitability and competitiveness.

Strategic Investment in Value-Based Care

The strategic investment in Interwell Health strengthens Fresenius' Value-Based Care segment, aligning with industry trends and potentially driving future growth.

Negative Factors

Declining Free Cash Flow

A decline in free cash flow suggests potential cash management issues, which could impact the company's ability to fund operations and growth initiatives.

U.S. Same-Market Treatment Growth

Minimal growth in U.S. same-market treatments indicates challenges in expanding patient base, potentially limiting revenue growth in a key market.

Foreign Exchange Rate Impact

Unfavorable foreign exchange impacts can reduce profitability and create financial volatility, affecting long-term financial performance.

Fresenius Medical Care 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 outpatient dialysis clinics; materials, training, and patient support services comprising clinical monitoring, follow-up assistance, and arranging for delivery of the supplies to the patient's residence; and dialysis services under contract to hospitals in the United States for the hospitalized end-stage renal disease (ESRD) patients and for patients suffering from acute kidney failure. The company also develops, manufactures, and distributes dialysis products, including polysulfone dialyzers, hemodialysis machines, peritoneal dialysis cyclers, peritoneal dialysis solutions, hemodialysis concentrates, solutions and granulates, bloodlines, renal pharmaceuticals, and systems for water treatment; and non-dialysis products, such as acute cardiopulmonary and apheresis products. In addition, it develops, acquires, and in-licenses renal pharmaceuticals; offers renal medications and supplies to patients at homes or to dialysis clinics; and provides vascular, cardiovascular, endovascular specialty, vascular care ambulatory surgery center, and physician nephrology and cardiology services. The company sells its products to dialysis clinics, hospitals, and specialized treatment clinics directly, as well as through local sales forces, independent distributors, dealers, and sales agents. As of February 23, 2022, it operated 4,171 outpatient dialysis clinics in approximately 150 countries. Fresenius Medical Care AG & Co. KGaA was incorporated in 1996 and is headquartered in Bad Homburg, Germany.

How the Company Makes Money

Fresenius Medical Care generates revenue primarily through two key segments: the production of dialysis products and the operation of dialysis clinics. In the products segment, the company sells dialysis machines, consumables, and other related medical devices to hospitals and clinics, which provides a steady revenue stream from both domestic and international markets. The services segment, which constitutes a significant portion of revenue, involves operating a global network of outpatient dialysis clinics, where patients receive treatments. The company is compensated for these services through reimbursement from public and private health insurance plans, which varies by region. Additionally, FMS benefits from strategic partnerships with healthcare providers and payers that enhance its service offerings and patient access, further contributing to its earnings. Continuous innovation in product development and a focus on improving patient outcomes also play crucial roles in maintaining competitive advantages and driving revenue growth.

Fresenius Medical Care Financial Statement Overview

Summary

Fresenius Medical Care demonstrates stable profitability and improved leverage, but faces challenges in sustaining revenue growth and managing cash flows effectively. The company shows potential for operational improvements and better cash management to enhance financial health.

Income Statement

Fresenius Medical Care shows a stable gross profit margin around 25%, indicating consistent cost management. The net profit margin has improved slightly to 3.36% in TTM, reflecting better profitability. However, revenue growth has been volatile, with a significant 64% increase in TTM, which may not be sustainable. EBIT and EBITDA margins are stable, but lower than historical highs, suggesting room for operational efficiency improvements.

Balance Sheet

The company's debt-to-equity ratio has improved to 0.83 in TTM, indicating better leverage management. Return on equity has increased to 4.7%, showing improved profitability from equity. The equity ratio is stable, suggesting a balanced asset financing structure. However, the overall leverage remains relatively high, posing potential risks in volatile markets.

Cash Flow

Operating cash flow is strong, but free cash flow has declined by 13.18% in TTM, indicating potential cash management issues. The operating cash flow to net income ratio is below 1, suggesting that not all earnings are translating into cash flow. The free cash flow to net income ratio is healthy at 0.84, indicating good cash conversion from profits.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	19.64B	19.34B	19.45B	19.40B	17.62B	17.86B
Gross Profit	4.91B	4.76B	4.93B	4.89B	4.77B	5.54B
EBITDA	2.72B	3.21B	3.21B	3.42B	3.55B	4.13B
Net Income	718.20M	537.91M	499.00M	673.40M	969.31M	1.16B
Balance Sheet
Total Assets	30.89B	33.57B	33.93B	35.75B	34.37B	31.69B
Cash, Cash Equivalents and Short-Term Investments	1.26B	1.34B	1.56B	1.46B	1.64B	1.26B
Total Debt	10.47B	11.00B	12.08B	13.21B	13.32B	12.38B
Total Liabilities	16.98B	17.80B	19.10B	20.30B	20.39B	19.36B
Stockholders Equity	12.95B	14.58B	13.62B	13.99B	12.70B	11.22B
Cash Flow
Free Cash Flow	1.78B	1.69B	1.94B	1.44B	1.64B	3.18B
Operating Cash Flow	2.51B	2.39B	2.63B	2.17B	2.49B	4.23B
Investing Cash Flow	-423.49M	-84.94M	-544.23M	-734.73M	-1.20B	-1.33B
Financing Cash Flow	-2.16B	-2.57B	-1.86B	-1.62B	-1.02B	-2.66B

Fresenius Medical Care Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 21.63
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FMS, the sentiment is Negative. The current price of 21.63 is below the 20-day moving average (MA) of 23.38, below the 50-day MA of 23.49, and below the 200-day MA of 25.56, indicating a bearish trend. The MACD of -0.42 indicates Positive momentum. The RSI at 33.49 is Neutral, neither overbought nor oversold. The STOCH value of 18.44 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FMS.

Fresenius Medical Care Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ENSG	78 Outperform	$10.29B	31.60	16.98%	0.14%	18.61%	35.76%
UHS	76 Outperform	$12.45B	9.47	19.97%	0.35%	10.21%	39.58%
THC	74 Outperform	$17.15B	13.80	34.51%	―	-0.56%	-53.50%
FMS	65 Neutral	$12.47B	15.52	5.31%	3.29%	4.09%	13.17%
EHC	64 Neutral	$10.08B	18.94	24.94%	0.65%	11.13%	27.53%
DVA	59 Neutral	$7.33B	10.90	―	―	5.14%	4.37%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Fresenius Medical Care Corporate Events

Fresenius Medical Care Accelerates Second Tranche of €1 Billion Share Buyback

On January 9, 2026, Fresenius Medical Care AG announced it will continue its EUR 1 billion share buyback program, originally unveiled in June 2025, by launching a second tranche after completing the first tranche ahead of schedule on December 29, 2025. Under the new tranche, the company plans to repurchase approximately EUR 415 million of its own shares on the stock exchange between January 12 and May 8, 2026, with the intention of predominantly redeeming the shares and using a smaller portion for incentive-based compensation, thereby accelerating completion of the overall buyback authorized by shareholders at the May 20, 2021 Annual General Meeting.

The most recent analyst rating on (FMS) stock is a Hold with a $28.00 price target. To see the full list of analyst forecasts on Fresenius Medical Care stock, see the FMS Stock Forecast page.

Fresenius Medical Care Appoints New Global Chief Medical Officer

Fresenius Medical Care announced the appointment of Charles Hugh-Jones as the new Global Chief Medical Officer, effective January 1, 2026, succeeding Franklin W. Maddux who will retire by the end of the year. This transition is part of a strategic move to strengthen the company’s leadership in renal care, with Hugh-Jones bringing extensive experience from his previous roles in major pharmaceutical companies. The appointment is expected to enhance Fresenius Medical Care’s position in the industry and support its ongoing efforts to innovate and improve patient care.

The most recent analyst rating on (FMS) stock is a Hold with a $28.00 price target. To see the full list of analyst forecasts on Fresenius Medical Care stock, see the FMS Stock Forecast page.

Fresenius Medical Care Issues €500 Million Bond to Strengthen Financial Position

On November 17, 2025, Fresenius Medical Care successfully placed a €500 million bond maturing in November 2030 with a coupon of 3.250%, resulting in a yield of 3.334%. The proceeds are intended for general corporate purposes, including refinancing existing financial liabilities. This strategic financial move under Fresenius Medical Care’s Debt Issuance Program is expected to enhance the company’s financial flexibility and support its ongoing operations, further solidifying its position in the renal care industry.

The most recent analyst rating on (FMS) stock is a Hold with a $28.00 price target. To see the full list of analyst forecasts on Fresenius Medical Care stock, see the FMS Stock Forecast page.

Fresenius Medical Care Reports Strong Q3 2025 Results and Strategic Progress

On November 4, 2025, Fresenius Medical Care announced its third-quarter results, highlighting a 28% growth in operating income and a 10% increase in organic revenue. The company reported significant progress in its FME Reignite strategy, achieving substantial savings and advancing its share buyback program. Despite divestments affecting revenue, the company confirmed its full-year outlook, indicating a positive trajectory in financial performance and strategic initiatives.

The most recent analyst rating on (FMS) stock is a Sell with a $22.00 price target. To see the full list of analyst forecasts on Fresenius Medical Care stock, see the FMS Stock Forecast page.

Fresenius Medical Care Unveils New Value-Based Care Segment in Q3 2025 Report

Fresenius Medical Care AG released its interim financial report for the three and nine months ended September 30, 2025. The company has restructured its operations by introducing a new Value-Based Care segment as of June 1, 2025, to enhance its focus on value-based kidney care. This strategic move is expected to improve the company’s market positioning by aligning its internal management reporting with recent changes. The report highlights the company’s financial condition and results of operations, providing insights into its performance and strategic direction.

The most recent analyst rating on (FMS) stock is a Sell with a $22.00 price target. To see the full list of analyst forecasts on Fresenius Medical Care stock, see the FMS Stock Forecast page.