F 
Fresenius Medical Care FME.DE · EUR
Health Care · Health Care Providers & Services · XETRA · 🇩🇪 Germany
DAX
40.97
-2.98%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€19.63bn
FY2016FY2025
Net income
€978.0m
FY2016FY2025
Free cash flow
€1.77bn
FY2016FY2025
Shareholders' equity
€13.31bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €19.63bn | €19.34bn | €19.45bn | €19.40bn | €17.62bn | €17.86bn | €17.48bn | €16.55bn | €17.78bn | €17.03bn |
| Gross profit | €5.03bn | €4.76bn | €4.93bn | €5.31bn | €5.08bn | €5.54bn | €5.40bn | €5.16bn | €6.00bn | €5.50bn |
| Research and development | €158.0m | €183.5m | €232.0m | €228.6m | €221.0m | €194.0m | €168.0m | €134.0m | €131.0m | €154.0m |
| Operating income | €1.83bn | €1.39bn | €1.37bn | €1.54bn | €301.3m | €529.0m | €710.0m | €3.04bn | €2.36bn | €2.51bn |
| Net income | €978.0m | €537.9m | €499.0m | €673.4m | €969.3m | €1.16bn | €1.20bn | €1.98bn | €1.28bn | €1.18bn |
| Diluted earnings per share | 3.42 | 1.83 | 1.70 | 2.30 | 3.31 | 3.98 | 4.01 | 6.46 | 4.17 | 3.86 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €31.00bn | €33.57bn | €33.93bn | €35.75bn | €34.37bn | €31.69bn | €32.94bn | €26.24bn | €24.02bn | €25.61bn |
| Cash and short-term investments | €1.73bn | €1.45bn | €1.54bn | €1.44bn | €1.62bn | €1.24bn | €1.14bn | €2.15bn | €978.0m | €961.8m |
| Total liabilities | €16.72bn | €17.80bn | €19.10bn | €20.30bn | €20.39bn | €19.36bn | €19.71bn | €13.34bn | €13.20bn | €14.72bn |
| Debt | €10.80bn | €10.98bn | €12.05bn | €13.21bn | €13.32bn | €12.38bn | €13.78bn | €7.68bn | €7.56bn | €8.25bn |
| Shareholders' equity | €13.31bn | €14.58bn | €13.62bn | €15.45bn | €13.98bn | €12.33bn | €13.23bn | €12.90bn | €10.83bn | €10.89bn |
| Shares outstanding | 286m | 293m | 293m | 293m | 293m | 293m | 299m | 307m | 307m | 306m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €2.68bn | €2.39bn | €2.63bn | €2.17bn | €2.49bn | €4.23bn | €2.57bn | €2.06bn | €2.19bn | €2.03bn |
| Capital spending | −€915.4m | −€699.4m | −€684.6m | −€1.41bn | −€1.68bn | −€2.09bn | −€2.24bn | −€2.06bn | −€1.78bn | −€1.94bn |
| Free cash flow | €1.77bn | €1.69bn | €1.94bn | €756.0m | €806.0m | €2.15bn | €329.0m | €2.0m | €407.0m | €93.2m |
| Dividends paid | −€422.5m | −€349.2m | −€328.6m | −€395.6m | −€392.5m | −€351.2m | −€354.6m | −€324.8m | −€294.0m | −€263.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €4.86bn | €4.61bn | €5.07bn | €4.88bn | €4.79bn | €4.88bn | €5.08bn | €4.76bn |
| Gross profit | €1.31bn | €1.18bn | €1.39bn | €1.24bn | €1.21bn | €1.18bn | €1.27bn | €1.15bn |
| Operating income | €534.0m | €501.3m | €565.0m | €476.5m | €425.3m | €331.4m | €259.4m | €462.0m |
| Net income | €218.0m | €118.0m | €327.0m | €274.8m | €225.3m | €151.2m | €66.9m | €213.0m |
| Diluted earnings per share | 0.81 | 0.44 | 1.14 | 0.96 | 0.79 | 0.53 | 0.23 | 0.73 |
| Cash from operations | €860.0m | €226.0m | €1.00bn | €741.0m | €774.0m | €162.0m | €832.0m | €984.0m |
| Capital spending | −€240.0m | −€190.0m | −€423.0m | −€192.0m | −€154.0m | −€145.0m | −€240.0m | −€159.0m |
| Free cash flow | €620.0m | €36.0m | €578.0m | €549.0m | €620.0m | €17.0m | €592.0m | €825.0m |
| Total assets | €31.29bn | €31.47bn | €31.00bn | €30.89bn | €31.29bn | €32.74bn | €33.57bn | €32.51bn |
| Cash and short-term investments | €1.45bn | €1.24bn | €1.73bn | €1.81bn | €2.19bn | €1.49bn | €1.45bn | €1.37bn |
| Debt | €8.15bn | €8.13bn | €11.38bn | €10.47bn | €11.02bn | €10.82bn | €10.98bn | €11.20bn |
| Shareholders' equity | €12.56bn | €13.24bn | €13.31bn | €12.95bn | €13.27bn | €14.37bn | €14.58bn | €13.62bn |
Financial ratios
Data as of 3 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 25.6% | 24.6% | 25.3% | 27.4% | 28.8% | 31.0% |
| Operating margin | 9.3% | 7.2% | 7.0% | 7.9% | 1.7% | 3.0% |
| Net margin | 5.0% | 2.8% | 2.6% | 3.5% | 5.5% | 6.5% |
| Return on equity | 7.3% | 3.7% | 3.7% | 4.4% | 6.9% | 9.4% |
| Return on assets | 3.2% | 1.6% | 1.5% | 1.9% | 2.8% | 3.7% |
| Free cash flow yield | 31.8% | 26.6% | 28.6% | 30.8% | 36.0% | 54.6% |
| Revenue growth | 1.5% | -0.6% | 0.3% | 10.1% | -1.3% | 2.2% |
| Earnings growth | 81.8% | 7.8% | -25.9% | -30.5% | -16.8% | -3.0% |
| Current ratio | 1.26x | 1.40x | 1.42x | 1.27x | 1.10x | 1.18x |
| Debt to equity | 0.59x | 0.51x | 0.63x | 0.60x | 0.66x | 0.69x |
| Equity ratio | 42.9% | 43.4% | 40.1% | 43.2% | 40.7% | 38.9% |
| Interest coverage | 4.74x | 3.42x | 3.22x | 4.27x | 0.85x | 1.29x |
| R&D as a share of sales | 0.8% | 0.9% | 1.2% | 1.2% | 1.3% | 1.1% |
| Buybacks as a share of market value | 2.6% | 0.0% | 0.0% | -0.1% | -0.0% | 2.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.4% | 1.9% | 2.5% |
| Operating income | 5.9% | 28.1% | -1.5% |
| Net income | 13.2% | -3.4% | 0.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 25.1% | 25.7% | 27.0% | 29.2% |
| Operating margin | 8.3% | 7.9% | 6.1% | 9.0% |
| Net margin | 3.9% | 3.5% | 4.3% | 5.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 11.9 | 24.1 | 22.3 | 13.3 | 17.3 | 17.1 | 16.4 | 8.8 | 21.1 | 20.8 |
| Price to sales | 0.6 | 0.7 | 0.6 | 0.5 | 0.9 | 1.1 | 1.1 | 1.1 | 1.5 | 1.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 28 years. Last went ex-dividend on 22 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.49 | 1.44 | 1.19 | 1.12 | 1.35 | 2.69 | 1.20 | 1.17 |
- 3-for-1 split · 18 Jun 2007
- 1-to-1 reverse split · 30 Aug 1999
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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