(FME) Fresenius Medical Care - Overview
Sector: Healthcare | Industry: Medical Care Facilities | Exchange: XETRA (Germany) | Market Cap: 10.007m EUR | Total Return: -26.1% in 12m
Avg Turnover: 25.0M
EPS Trend: 98.8%
Qual. Beats: 0
Rev. Trend: 4.5%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Fresenius Medical Care AG (FME) is a vertically integrated healthcare provider specializing in treatments for end-stage renal disease (ESRD) and acute kidney failure. The company operates through two primary segments: Care Delivery, which manages a global network of outpatient dialysis clinics, and Care Enablement, which focuses on the development and manufacturing of dialysis equipment and renal pharmaceuticals.
The business model relies on a combination of service revenue from clinical treatments and product sales of hemodialysis machines and consumables. As a major player in the Health Care Facilities sector, the company faces high barriers to entry due to the specialized technical requirements of water treatment systems and the regulatory oversight governing outpatient surgical centers.
The company maintains a diverse distribution network, selling products to third-party hospitals and independent clinics while also supplying its own internal network of facilities. For a deeper look into the companys valuation metrics, investors may find it useful to explore the data on ValueRay. This integrated approach allows the firm to capture value across the entire renal care continuum, from manufacturing to patient bedside.
- U.S. Medicare reimbursement rates dictate core Care Delivery segment revenue margins
- Labor shortages and rising clinician wages pressure domestic outpatient clinic profitability
- GLP-1 drug adoption trends influence long-term demand for chronic dialysis treatments
- Global supply chain efficiencies determine manufacturing margins for the Care Enablement division
- Strategic restructuring and asset divestments drive multi-year operational margin expansion targets
| Net Income: 945.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA 0.45 > 1.0 |
| NWC/Revenue: 7.12% < 20% (prev 12.88%; Δ -5.76% < -1%) |
| CFO/TA 0.09 > 3% & CFO 2.75b > Net Income 945.1m |
| Net Debt (13.3b) to EBITDA (3.47b): 3.83 < 3 |
| Current Ratio: 1.20 > 1.5 & < 3 |
| Outstanding Shares: last quarter (275.3m) vs 12m ago -6.19% < -2% |
| Gross Margin: 25.96% > 18% (prev 0.24%; Δ 2.57k% > 0.5%) |
| Asset Turnover: 60.30% > 50% (prev 59.55%; Δ 0.76% > 0%) |
| Interest Coverage Ratio: 5.26 > 6 (EBITDA TTM 3.47b / Interest Expense TTM 382.0m) |
| A: 0.04 (Total Current Assets 8.11b - Total Current Liabilities 6.73b) / Total Assets 31.5b |
| B: 0.39 (Retained Earnings 12.3b / Total Assets 31.5b) |
| C: 0.06 (EBIT TTM 2.01b / Avg Total Assets 32.1b) |
| D: 0.65 (Book Value of Equity 11.2b / Total Liabilities 17.3b) |
| Altman-Z'' = 2.66 = A |
| DSRI: 1.04 (Receivables 3.72b/3.59b, Revenue 19.4b/19.5b) |
| GMI: 0.94 (GM 25.96% / 24.46%) |
| AQI: 1.19 (AQ_t 0.65 / AQ_t-1 0.54) |
| SGI: 0.99 (Revenue 19.4b / 19.5b) |
| TATA: -0.06 (NI 945.1m - CFO 2.75b) / TA 31.5b) |
| Beneish M = -2.99 (Cap -4..+1) = A |
As of May 27, 2026, the stock is trading at EUR 37.31 with a total of 675,116 shares traded.
Over the past week, the price has changed by +1.20%,
over one month by +0.13%,
over three months by -1.07% and
over the past year by -26.06%.
Fresenius Medical Care has no consensus analysts rating.
P/E Trailing = 11.3945
P/E Forward = 9.434
P/S = 0.5169
P/B = 0.7863
P/EG = 0.7927
Revenue TTM = 19.4b EUR
EBIT TTM = 2.01b EUR
EBITDA TTM = 3.47b EUR
Long Term Debt = 5.74b EUR (from longTermDebt, last quarter)
Short Term Debt = 2.39b EUR (from shortTermDebt, last quarter)
Debt = 14.5b EUR (from shortLongTermDebtTotal, last quarter) + Leases 3.49b
Net Debt = 13.3b EUR (calculated: Debt 14.5b - CCE 1.24b)
Enterprise Value = 23.3b EUR (10.0b + Debt 14.5b - CCE 1.24b)
Interest Coverage Ratio = 5.26 (Ebit TTM 2.01b / Interest Expense TTM 382.0m)
EV/FCF = 13.04x (Enterprise Value 23.3b / FCF TTM 1.79b)
FCF Yield = 7.67% (FCF TTM 1.79b / Enterprise Value 23.3b)
FCF Margin = 9.22% (FCF TTM 1.79b / Revenue TTM 19.4b)
Net Margin = 4.88% (Net Income TTM 945.1m / Revenue TTM 19.4b)
Gross Margin = 25.96% ((Revenue TTM 19.4b - Cost of Revenue TTM 14.3b) / Revenue TTM)
Gross Margin QoQ = 25.57% (prev 27.40%)
Tobins Q-Ratio = 0.74 (Enterprise Value 23.3b / Total Assets 31.5b)
Interest Expense / Debt = 2.63% (Interest Expense 382.0m / Debt 14.5b)
Taxrate = 20.65% (42.8m / 207.0m)
NOPAT = 1.59b (EBIT 2.01b * (1 - 20.65%))
Current Ratio = 1.20 (Total Current Assets 8.11b / Total Current Liabilities 6.73b)
Debt / Equity = 1.10 (Debt 14.5b / totalStockholderEquity, last quarter 13.2b)
Debt / EBITDA = 3.83 (Net Debt 13.3b / EBITDA 3.47b)
Debt / FCF = 7.44 (Net Debt 13.3b / FCF TTM 1.79b)
Total Stockholder Equity = 13.2b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.94% (Net Income 945.1m / Total Assets 31.5b)
RoE = 7.16% (Net Income TTM 945.1m / Total Stockholder Equity 13.2b)
RoCE = 10.61% (EBIT 2.01b / Capital Employed (Equity 13.2b + L.T.Debt 5.74b))
RoIC = 5.88% (NOPAT 1.59b / Invested Capital 27.1b)
WACC = 4.02% (E(10.0b)/V(24.5b) * Re(6.82%) + D(14.5b)/V(24.5b) * Rd(2.63%) * (1-Tc(0.21)))
Discount Rate = 6.82% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -73.03 | Cagr: -2.80%
[DCF] Terminal Value 76.00% ; FCFF base≈1.76b ; Y1≈1.83b ; Y5≈2.08b
[DCF] Fair Price = 70.02 (EV 32.1b - Net Debt 13.3b = Equity 18.8b / Shares 268.6m; r=8.35% [WACC [floored]]; 5y FCF grow 4.38% → 2.50% )
EPS Correlation: 98.85 | EPS CAGR: 30.66% | SUE: -0.09 | # QB: 0
Revenue Correlation: 4.55 | Revenue CAGR: 0.03% | SUE: -0.02 | # QB: 0
EPS current Quarter (2026-06-30): EPS=1.14 | Chg30d=+2.02% | Revisions=+0% | Analysts=3
EPS next Quarter (2026-09-30): EPS=1.13 | Chg30d=+0.25% | Revisions=+0% | Analysts=3
EPS current Year (2026-12-31): EPS=3.93 | Chg30d=-3.89% | Revisions=-54% | GrowthEPS=-8.1% | GrowthRev=-0.9%
EPS next Year (2027-12-31): EPS=4.42 | Chg30d=-1.65% | Revisions=-43% | GrowthEPS=+12.4% | GrowthRev=+3.9%
[Analyst] Revisions Ratio: -54%