FMS Stock Analysis: Fresenius Medical Care | NYSE
Medical Care Facilities | NYSE, USA | Market Cap: 12.470m USD | 12M Return: -3.2% | US3580291066 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 18.6M
EPS Trend: 99.0%
Qual. Beats: 1
Rev. Trend: 21.8%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Fresenius Medical Care AG is a global provider of dialysis care and related services for patients with renal disease, operating through two main segments: Care Delivery, which runs a network of outpatient dialysis clinics and provides hospital-based dialysis for ESRD and acute kidney failure patients, and Care Enablement, which supplies products and support services to clinics and home patients. The dialysis industry is characterized by vertically integrated players that combine direct patient care with the manufacturing of treatment equipment and consumables, a model that allows the company to serve chronic kidney disease patients across the full continuum of treatment.
On the products side, Fresenius Medical Care develops and manufactures a broad portfolio of renal care equipment and supplies, including hemodialysis machines, peritoneal dialysis cyclers, dialyzers, concentrates and solutions, bloodlines, water treatment systems, and renal pharmaceuticals. The company also pursues in-licensing and acquisition of renal drugs and operates adjacent businesses such as vascular specialty services, ambulatory surgery centers, nephrology practice management, and pharmacy services, distributing its products through direct sales forces, independent distributors, and dealers.
The company was incorporated in 1996 and is headquartered in Bad Homburg, Germany, with operations concentrated in Germany, the United States, and other international markets. Its customer base spans dialysis clinics, hospitals, and specialized treatment clinics, and its home-care offerings reflect the broader healthcare shift toward home-based treatment for chronic conditions.
- CMS bundled payment rate adjustments reshape US dialysis margins
- Care Enablement product mix shift drives segment margin expansion
- GLP-1 adoption introduces long-term ESRD patient volume uncertainty
| Net Income: 937.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA -0.89 > 1.0 |
| NWC/Revenue: 2.63% < 20% (prev 12.68%; Δ -10.05% < -1%) |
| CFO/TA 0.09 > 3% & CFO 2.80b > Net Income 937.8m |
| Net Debt (12.9b) to EBITDA (3.42b): 3.77 < 3 |
| Current Ratio: 1.07 > 1.5 & < 3 |
| Outstanding Shares: last quarter (539.2m) vs 12m ago -8.12% < -2% |
| Gross Margin: 26.36% > 18% (prev 24.67%; Δ 1.69% > 0.5%) |
| Asset Turnover: 62.08% > 50% (prev 62.38%; Δ -0.29% > 0%) |
| Interest Coverage Ratio: 4.88 > 6 (EBIT TTM 1.87b / Interest Expense TTM 383.0m) |
| A: 0.02 (Total Current Assets 7.69b - Total Current Liabilities 7.18b) / Total Assets 31.3b |
| B: 0.39 (Retained Earnings 12.1b / Total Assets 31.3b) |
| C: 0.06 (EBIT TTM 1.87b / Avg Total Assets 31.3b) |
| D: 0.71 (Book Value of Equity 12.6b / Total Liabilities 17.8b) |
| Altman-Z'' = 2.51 = A |
| DSRI: 1.08 (Receivables 3.47b/3.23b, Revenue 19.4b/19.5b) |
| GMI: 0.94 (GM 24.67% / 26.36%) |
| AQI: 1.03 (AQ_t 0.55 / AQ_t-1 0.53) |
| SGI: 1.00 (Revenue 19.4b / 19.5b) |
| TATA: -0.06 (NI 937.8m - CFO 2.80b) / TA 31.3b) |
| Beneish M = -3.01 (Cap -4..+1) = AA |
As of August 25, 2026, the stock is trading at USD 23.53 with a total of 510,820 shares traded. Over the past week, the price has changed by +0.13%, over one month by -4.31%, over three months by +9.04% and over the past year by -3.21%.
Current recommended Stop Loss: 22.90 (which is 2.7% or 1.3 ATR below the current price).
Fresenius Medical Care has received a consensus analysts rating of 3.00. Therefore, it is recommended to hold FMS.
- StrongBuy: 1
- Buy: 0
- Hold: 4
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 26 | 10.5% |
Market Cap EUR = 10.7b (12.5b USD * 0.8557 USD.EUR)
P/E Trailing = 12.0773
P/E Forward = 9.7371
P/S = 0.6419
P/B = 0.8508
P/EG = 0.8183
Revenue TTM = 19.4b EUR
EBIT TTM = 1.87b EUR
EBITDA TTM = 3.42b EUR
Long Term Debt = 5.82b EUR (from longTermDebt, last quarter)
Short Term Debt = 2.33b EUR (from shortTermDebt, last quarter)
Debt = 14.4b EUR (from shortLongTermDebtTotal, last quarter) + Leases 3.40b
Net Debt = 12.9b EUR (calculated: Debt 14.4b - CCE 1.45b)
Enterprise Value = 23.6b EUR (10.7b + Debt 14.4b - CCE 1.45b)
Interest Coverage Ratio = 4.88 (Ebit TTM 1.87b / Interest Expense TTM 383.0m)
EV/FCF = 13.32x (Enterprise Value 23.6b / FCF TTM 1.77b)
FCF Yield = 7.51% (FCF TTM 1.77b / Enterprise Value 23.6b)
FCF Margin = 9.11% (FCF TTM 1.77b / Revenue TTM 19.4b)
Net Margin = 4.83% (Net Income TTM 937.8m / Revenue TTM 19.4b)
Gross Margin = 26.36% ((Revenue TTM 19.4b - Cost of Revenue TTM 14.3b) / Revenue TTM)
Gross Margin QoQ = 26.95% (prev 25.57%)
Tobins Q-Ratio = 0.75 (Enterprise Value 23.6b / Total Assets 31.3b)
Interest Expense / Debt = 2.67% (Interest Expense 383.0m / Debt 14.4b)
Taxrate = 20.93% (314.2m / 1.50b)
NOPAT = 1.48b (EBIT 1.87b * (1 - 20.93%))
Current Ratio = 1.07 (Total Current Assets 7.69b / Total Current Liabilities 7.18b)
Debt / Equity = 1.14 (Debt 14.4b / totalStockholderEquity, last quarter 12.6b)
Debt / EBITDA = 3.77 (Net Debt 12.9b / EBITDA 3.42b)
Debt / FCF = 7.29 (Net Debt 12.9b / FCF TTM 1.77b)
Total Stockholder Equity = 13.3b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.00% (Net Income 937.8m / Total Assets 31.3b)
RoE = 7.07% (Net Income TTM 937.8m / Total Stockholder Equity 13.3b)
RoCE = 9.80% (EBIT 1.87b / Capital Employed (Equity 13.3b + L.T.Debt 5.82b))
RoIC = 5.80% (NOPAT 1.48b / Invested Capital 25.5b)
WACC = 3.79% (E(10.7b)/V(25.0b) * Re(6.06%) + D(14.4b)/V(25.0b) * Rd(2.67%) * (1-Tc(0.21)))
Discount Rate = 6.06% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -87.29 | Cagr: -29.23%
[DCF] Terminal Value 73.36% ; FCFF base≈1.88b ; Y1≈1.67b ; Y5≈1.39b
[DCF] Fair Price = 17.51 (EV 22.2b - Net Debt 12.9b = Equity 9.32b / Shares 532.2m; r=8.35% [WACC [floored]]; 5y FCF grow -13.56% → 2.50% )
EPS Correlation: 98.98 | EPS CAGR: 30.14% | SUE: 2.32 | # QB: 1
Revenue Correlation: 21.79 | Revenue CAGR: 0.14% | SUE: 0.29 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.50 | Chg30d=-11.26% | Revisions=-25% | Analysts=2
EPS current Year (2026-12-31): EPS=2.07 | Chg30d=-19.07% | Revisions=+0% | GrowthEPS=-3.4% | GrowthRev=-0.4%
EPS next Year (2027-12-31): EPS=3.14 | Chg30d=-6.98% | Revisions=-17% | GrowthEPS=+52.1% | GrowthRev=+3.4%
[Analyst] Revisions Ratio: -22% (up=2, down=4)