F 
Fresenius SE & Co KGaA FRE.DE · EUR
Health Care · Health Care Providers & Services · XETRA · 🇩🇪 Germany
DAX
52.46
-0.04%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€22.87bn
FY2016FY2025
Net income
€1.26bn
FY2016FY2025
Free cash flow
€1.20bn
FY2016FY2025
Shareholders' equity
€19.10bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €22.87bn | €21.83bn | €21.07bn | €21.33bn | €37.08bn | €36.28bn | €35.41bn | €33.53bn | €33.89bn | €29.08bn |
| Gross profit | €5.69bn | €5.38bn | €4.97bn | €5.20bn | €9.81bn | €10.32bn | €10.35bn | €9.83bn | €10.48bn | €9.13bn |
| Research and development | €633.0m | €641.0m | €608.0m | €614.0m | €774.0m | €751.0m | €645.0m | €673.0m | €558.0m | €500.0m |
| Operating income | €2.50bn | €1.84bn | €1.29bn | €2.00bn | €3.60bn | €4.38bn | €4.63bn | €3.85bn | €4.59bn | €4.33bn |
| Net income | €1.26bn | €471.0m | −€594.0m | €1.37bn | €1.82bn | €1.71bn | €1.88bn | €2.03bn | €1.81bn | €1.59bn |
| Diluted earnings per share | 2.24 | 0.84 | -1.05 | 2.46 | 3.26 | 3.08 | 3.39 | 3.63 | 3.25 | 2.91 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €41.40bn | €43.55bn | €45.28bn | €76.42bn | €71.96bn | €66.65bn | €67.01bn | €56.70bn | €53.13bn | €46.45bn |
| Cash and short-term investments | €1.58bn | €2.05bn | €2.56bn | €2.35bn | €2.75bn | €2.00bn | €1.79bn | €2.81bn | €1.65bn | €1.61bn |
| Total liabilities | €21.63bn | €23.26bn | €25.63bn | €44.20bn | €42.67bn | €40.62bn | €40.43bn | €31.70bn | €31.41bn | €24.84bn |
| Debt | €10.69bn | €13.28bn | €15.83bn | €27.76bn | €27.16bn | €25.91bn | €27.26bn | €19.13bn | €19.16bn | €14.90bn |
| Shareholders' equity | €19.10bn | €19.54bn | €19.00bn | €20.41bn | €19.00bn | €16.95bn | €16.78bn | €15.41bn | €13.66bn | €12.50bn |
| Shares outstanding | 563m | 563m | 563m | 558m | 558m | 555m | 555m | 559m | 558m | 547m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €2.69bn | €2.45bn | €4.46bn | €4.20bn | €5.08bn | €6.55bn | €4.26bn | €3.74bn | €3.94bn | €3.57bn |
| Capital spending | −€1.50bn | −€923.0m | −€1.13bn | −€1.92bn | −€2.05bn | −€2.41bn | −€2.46bn | −€3.22bn | −€8.11bn | −€1.63bn |
| Free cash flow | €1.20bn | €1.52bn | €3.32bn | €2.28bn | €3.03bn | €4.14bn | €1.80bn | €523.0m | −€4.17bn | €1.95bn |
| Dividends paid | −€684.0m | — | −€550.0m | −€890.0m | −€1.07bn | −€1.06bn | −€952.0m | −€416.0m | −€342.0m | −€300.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €5.95bn | €5.82bn | €6.16bn | €5.49bn | €5.58bn | €5.65bn | €5.63bn | €5.37bn |
| Gross profit | €1.55bn | €1.53bn | €1.52bn | €1.30bn | €1.46bn | €1.41bn | €1.42bn | €1.36bn |
| Operating income | €623.0m | €629.0m | €596.0m | €465.0m | €554.0m | €628.0m | €505.0m | €492.0m |
| Net income | €382.0m | €435.0m | €361.0m | €344.0m | €330.0m | €229.0m | €240.0m | €326.0m |
| Diluted earnings per share | 0.68 | 0.77 | 0.64 | 0.61 | 0.59 | 0.41 | 0.43 | 0.58 |
| Cash from operations | €458.0m | €405.0m | €1.34bn | €756.0m | €418.0m | €56.0m | €958.0m | €779.0m |
| Capital spending | −€254.0m | −€246.0m | −€725.0m | −€292.0m | −€211.0m | −€179.0m | −€296.0m | −€288.0m |
| Free cash flow | €204.0m | €159.0m | €619.0m | €464.0m | €207.0m | −€123.0m | €662.0m | €491.0m |
| Total assets | €41.84bn | €42.37bn | €41.40bn | €42.46bn | €41.32bn | €43.21bn | €43.55bn | €42.37bn |
| Cash and short-term investments | €1.28bn | €2.06bn | €1.58bn | €2.36bn | €1.39bn | €2.53bn | €2.05bn | €1.49bn |
| Debt | €10.19bn | €10.68bn | €12.10bn | €13.54bn | €12.85bn | €13.63bn | €13.58bn | €13.32bn |
| Shareholders' equity | €19.70bn | €19.78bn | €19.10bn | €18.62bn | €18.28bn | €19.41bn | €19.54bn | €18.83bn |
Financial ratios
Data as of 23 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 24.9% | 24.6% | 23.6% | 24.4% | 26.5% | 28.4% |
| Operating margin | 10.9% | 8.4% | 6.1% | 9.4% | 9.7% | 12.1% |
| Net margin | 5.5% | 2.2% | -2.8% | 6.4% | 4.9% | 4.7% |
| Return on equity | 6.6% | 2.4% | -3.1% | 6.7% | 9.6% | 10.1% |
| Return on assets | 3.1% | 1.1% | -1.3% | 1.8% | 2.5% | 2.6% |
| Free cash flow yield | 16.4% | 13.2% | 21.8% | 24.1% | 28.1% | 35.5% |
| Revenue growth | 4.8% | 3.6% | -1.2% | -42.5% | 2.2% | 2.5% |
| Earnings growth | 168.4% | -179.3% | -143.3% | -24.5% | 6.5% | -9.3% |
| Current ratio | 1.32x | 1.27x | 1.34x | 1.34x | 1.16x | 1.19x |
| Debt to equity | 0.56x | 0.63x | 0.74x | 1.08x | 1.68x | 1.21x |
| Equity ratio | 46.2% | 44.9% | 42.0% | 26.7% | 26.4% | 25.4% |
| Interest coverage | 5.70x | 3.38x | 2.50x | 5.89x | 5.70x | 5.83x |
| R&D as a share of sales | 2.8% | 2.9% | 2.9% | 2.9% | 2.1% | 2.1% |
| Buybacks as a share of market value | 0.0% | 0.0% | -1.0% | 0.1% | -0.6% | 0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.4% | -8.8% | -1.9% |
| Operating income | 7.6% | -10.6% | -4.3% |
| Net income | -2.7% | -5.8% | -0.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 24.8% | 24.4% | 25.8% | 28.0% |
| Operating margin | 9.7% | 8.8% | 9.7% | 11.5% |
| Net margin | 3.9% | 2.9% | 3.8% | 4.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 21.8 | 40.1 | -26.6 | 10.7 | 10.9 | 12.3 | 14.8 | 11.7 | 20.0 | 25.5 |
| Price to sales | 1.2 | 0.9 | 0.8 | 0.7 | 0.5 | 0.6 | 0.8 | 0.7 | 1.1 | 1.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 25 May 2026.
| FY2026 | FY2025 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.05 | 1.00 | 0.92 | 0.66 | 1.76 | 0.84 | 0.80 | 0.75 |
- 3-for-1 split · 4 Aug 2014
- 3-for-1 split · 2 Feb 2007
- 2-for-1 split · 11 Jun 2001
- 1-to-1 reverse split · 13 Sept 1999
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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