What is FRESENIUS MED CARE AG's earnings per share (EPS)?

FRESENIUS MED CARE AG (FMCQF) reported diluted earnings per share of $3.94 for fiscal year 2025. This represents a 108.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

FRESENIUS MED CARE AG (FMCQF) Financials

FMCQF

FY2025 annual

Revenue $23.0B +15.1% YoY

Net Income $1.1B +106.2% YoY

EPS (Diluted) $3.94 +108.2% YoY

Operating Cash Flow $3.1B +27.4% YoY

Market Cap $11.7B as of Oct 16, 2026

Price / Sales 0.5x on $23.0B revenue, FY2025

Price / Earnings 10.2x on $1.1B net income, FY2025

Price / Book 0.7x on $15.6B equity, Q4 FY2025

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 16, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (20-F/6-K) Latest period FY2025, ended Dec 31, 2025 Reported Feb 24, 2026 Currency USD FYE December

Newest figures come from the 20-F for FY2025, filed Feb 24, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FMCQF SEC filings page.

FRESENIUS MED CARE AG (FMCQF) reported $23.0B in revenue for fiscal year 2025, up 15.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI FMCQF FY2016 2026-10-04

Moderate top-line growth converted into faster profit growth, while lower leverage coexisted with heavy reinvestment.

Revenue advanced 7.0% while operating income grew 13.4% from FY2015 to FY2016, indicating some operating leverage. Operating margin moved from 13.9% to 14.7%, reinforcing that costs did not rise as quickly as sales.

In FY2016, operating cash flow of $2.14B exceeded net income of $1.24B, so reported earnings were backed by cash rather than tied up entirely in accruals. Yet capital expenditures of $1.03B left free cash flow at $1.11B, showing that the model requires ongoing asset reinvestment to produce its residual cash.

Debt-to-equity fell from 0.8x in FY2015 to 0.7x in FY2016 as equity expanded and long-term debt declined, reducing financing dependence. At the same time, the current ratio slipped from 1.6x to 1.5x, leaving a tighter short-term cushion even as leverage improved.

Financial Health Signals

Financial health score not available

FRESENIUS MED CARE AG does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Altman Z-Score Distress

1.80

FRESENIUS MED CARE AG scores 1.80, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Strong

8/9

FRESENIUS MED CARE AG passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

2.74x

For every $1 of reported earnings, FRESENIUS MED CARE AG generates $2.74 in operating cash flow ($3.1B OCF vs $1.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

4.87x

FRESENIUS MED CARE AG earns $4.87 in operating income for every $1 of interest expense ($2.1B vs $440.4M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$5.9B

YoY+13.0%

QoQ+3.8%

5Y CAGR+2.0%

10Y CAGR-3.3%

FRESENIUS MED CARE AG generated $5.9B in revenue in Q4 2025. This represents an increase of 13.0% from the same quarter a year earlier. Against the prior quarter it is up 3.8%.

EBITDA

$1.1B

YoY+49.0%

QoQ+16.0%

5Y CAGR-2.3%

FRESENIUS MED CARE AG's EBITDA was $1.1B in Q4 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 49.0% from the same quarter a year earlier. Against the prior quarter it is up 16.0%.

Net Income

$383.9M

YoY+454.3%

QoQ+19.0%

5Y CAGR+12.1%

10Y CAGR+1.9%

FRESENIUS MED CARE AG reported $383.9M in net income in Q4 2025. This represents an increase of 454.3% from the same quarter a year earlier. Against the prior quarter it is up 19.0%.

EPS (Diluted)

$1.34

YoY+487.6%

QoQ+21.3%

5Y CAGR+12.4%

FRESENIUS MED CARE AG earned $1.34 per diluted share (EPS) in Q4 2025. This represents an increase of 487.6% from the same quarter a year earlier. Against the prior quarter it is up 21.3%.

Cash & Balance Sheet

Cash & Debt

$1.9B

YoY+53.6%

QoQ+27.3%

5Y CAGR+7.2%

10Y CAGR+13.1%

FRESENIUS MED CARE AG held $1.9B in cash against $6.7B in long-term debt as of Q4 2025.

Shares Outstanding

279M

YoY-4.8%

QoQ0.0%

FRESENIUS MED CARE AG had 279M shares outstanding in Q4 2025. This represents a decrease of 4.8% from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Margins & Returns

Gross Margin

27.4%

YoY+2.4pp

QoQ+2.0pp

5Y change-3.8pp

10Y change-37.9pp

FRESENIUS MED CARE AG's gross margin was 27.4% in Q4 2025, indicating the percentage of revenue retained after direct costs. This is up 2.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.0 percentage points.

Operating Margin

11.7%

YoY+6.6pp

QoQ+2.0pp

5Y change+1.2pp

10Y change+3.7pp

FRESENIUS MED CARE AG's operating margin was 11.7% in Q4 2025, reflecting core business profitability. This is up 6.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.0 percentage points.

Net Margin

6.5%

YoY+5.1pp

QoQ+0.8pp

5Y change+2.4pp

10Y change+2.6pp

FRESENIUS MED CARE AG's net profit margin was 6.5% in Q4 2025, showing the share of revenue converted to profit. This is up 5.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.8 percentage points.

Return on Equity

2.5%

YoY+2.0pp

QoQ+0.3pp

5Y change+0.9pp

10Y change-0.7pp

FRESENIUS MED CARE AG's quarterly ROE was 2.5% in Q4 2025: one quarter's net income over shareholder equity, not annualized. This is up 2.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.3 percentage points.

Capital Allocation

R&D Spending

$45.3M

YoY-12.5%

QoQ+2.3%

5Y CAGR-6.7%

10Y CAGR+1.3%

FRESENIUS MED CARE AG invested $45.3M in research and development in Q4 2025. This represents a decrease of 12.5% from the same quarter a year earlier. Against the prior quarter it is up 2.3%.

Share Buybacks

$16.3M

FRESENIUS MED CARE AG spent $16.3M on share buybacks in Q4 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

Not reported for Q4 2025.

FMCQF Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

FMCQF quarterly income statement

Metric	FY2520-F	FY2420-F	FY2320-F	FY2220-F	FY2120-F	FY2020-F	FY1920-F	FY1820-F	FY1720-F	FY1620-F	FY1520-F	FY1420-F	FY1320-F	FY1220-F	FY1120-F
Revenue	$23.0B+15.1%	$20.0B-7.0%	$21.5B+3.7%	$20.8B+4.1%	$19.9B-8.7%	$21.8B+11.3%	$19.6B+3.5%	$19.0B-11.3%	$21.4B+22.3%	$17.5B+4.2%	$16.8B+218.7%	$5.3B+5.9%	$5.0B-64.0%	$13.8B+9.8%	$12.6B
Cost of Revenue	$17.1B+13.5%	$15.1B-6.1%	$16.1B+3.6%	$15.5B+6.7%	$14.5B-3.5%	$15.1B+11.1%	$13.6B+3.9%	$13.1B-7.7%	$14.1B+22.4%	$11.6B+3.6%	$11.2B+3.0%	$10.8B+9.8%	$9.9B+7.3%	$9.2B+9.3%	$8.4B
Gross Profit	$5.9B+19.9%	$4.9B-9.6%	$5.4B-4.1%	$5.7B-1.1%	$5.7B-15.2%	$6.8B+11.8%	$6.1B+2.6%	$5.9B-18.4%	$7.2B+22.1%	$5.9B+5.4%	$5.6Bn/m	-$5.6Bn/m	-$4.9B-206.5%	$4.6B+10.8%	$4.2B
R&D Expenses	$185.4M-2.4%	$189.9M-26.0%	$256.6M+4.9%	$244.6M-2.1%	$249.9M+5.4%	$237.0M+25.6%	$188.6M+44.4%	$130.7M-2.1%	$133.4M-13.7%	$154.6M+11.1%	$139.1M+13.9%	$122.1M-2.9%	$125.8M+12.7%	$111.6M+0.7%	$110.8M
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$2.6B+11.0%	$2.4B+7.1%	$2.2B+11.1%	$2.0B
Operating Income	$2.1B+48.8%	$1.4B-4.9%	$1.5B-6.3%	$1.6B-22.9%	$2.1B-25.6%	$2.8B+10.6%	$2.5B-26.8%	$3.5B+22.5%	$2.8B+11.7%	$2.5B+10.0%	$2.3B+2.5%	$2.3B-0.1%	$2.3B+1.7%	$2.2B+6.9%	$2.1B
EBITDA	$3.9B+20.4%	$3.2B-6.0%	$3.5B-3.7%	$3.6B-8.9%	$3.9B-21.4%	$5.0B+15.4%	$4.3B+0.6%	$4.3B+15.7%	$3.7B+13.5%	$3.3B+8.9%	$3.0B+2.1%	$3.0B+1.7%	$2.9B+2.9%	$2.8B+7.2%	$2.6B
Interest Expense	$440.4M+8.2%	$407.1M-12.6%	$465.6M+21.2%	$384.1M-1.3%	$389.1M-21.8%	$497.8M-8.8%	$545.7M+8.8%	$501.7Mn/m	-$438.6Mn/m	-$383.5M-177.1%	$497.2M+0.4%	$495.4M+10.7%	$447.5M-4.9%	$470.5M+32.0%	$356.4M
Income Tax	$376.7M+15.1%	$327.1M-1.6%	$332.5M-4.4%	$347.6M-12.9%	$399.3M-34.8%	$612.2M+35.8%	$450.9M-23.0%	$585.5M+9.9%	$532.7M-19.3%	$660.0M+7.6%	$613.6M+5.1%	$583.6M-1.4%	$592.0M-2.2%	$605.1M+0.7%	$601.1M
Net Income	$1.1B+106.2%	$556.8M+0.9%	$552.0M-23.4%	$720.4M-34.3%	$1.1B-23.0%	$1.4B+5.7%	$1.3B-40.7%	$2.3B+47.6%	$1.5B+27.5%	$1.2B+16.4%	$1.0B-0.8%	$1.0B-5.8%	$1.1B-6.5%	$1.2B+10.8%	$1.1B
EPS (Basic)	$3.94+108.2%	$1.89+0.7%	$1.88-23.6%	$2.46-34.3%	$3.75-22.6%	$4.84+8.9%	$4.45-40.0%	$7.41+47.8%	$5.01+27.0%	$3.95+15.7%	$3.41-1.5%	$3.46-5.2%	$3.65-6.2%	$3.89+9.9%	$3.54
EPS (Diluted)	$3.94+108.2%	$1.89+0.7%	$1.88-23.6%	$2.46-34.3%	$3.75-22.6%	$4.84+8.9%	$4.45-39.8%	$7.39+47.7%	$5.00+27.1%	$3.94+15.8%	$3.40-1.5%	$3.45-5.5%	$3.65-5.7%	$3.87+10.3%	$3.51
Diluted Shares (Avg)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	303M+0.1%	303M-0.1%	303M+0.7%	301M

Metric	Q4'2520-F	Q3'256-K	Q2'256-K	Q1'256-K	Q4'2420-F	Q3'246-K	Q2'246-K	Q1'246-K
Revenue	$5.9B+13.0%	$5.7B+8.1%	$5.6B+10.5%	$5.3B+3.4%	$5.3B-4.6%	$5.3B+1.5%	$5.1B-3.1%	$5.1B-0.3%
Cost of Revenue	$4.3B+9.4%	$4.3B+6.1%	$4.2B+9.2%	$4.0B+4.2%	$3.9B-1.9%	$4.0B+2.7%	$3.9B-2.7%	$3.8B-0.9%
Gross Profit	$1.6B+23.9%	$1.5B+14.1%	$1.4B+14.4%	$1.3B+0.9%	$1.3B-11.9%	$1.3B-1.8%	$1.2B-4.4%	$1.3B+1.4%
R&D Expenses	$45.3M-12.5%	$44.3M-0.8%	$44.9M-8.1%	$46.9M-9.0%	$51.8M-29.0%	$44.6M-20.5%	$48.8M-21.8%	$51.6M-14.9%
Operating Income	$697.0M+160.1%	$559.2M+8.4%	$500.6M+10.0%	$357.8M+34.8%	$268.0M-43.4%	$515.7M+50.3%	$455.0M+16.8%	$265.5M-6.4%
EBITDA	$1.1B+49.0%	$978.4M+6.0%	$942.2M+8.4%	$783.5M-4.3%	$761.7M-19.3%	$923.4M+12.1%	$869.5M+0.7%	$818.4M+7.7%
Interest Expense	$105.4M+16.7%	$109.2M-1.1%	$113.7M+3.0%	$103.3M-7.8%	$90.4M-24.2%	$110.5M-8.3%	$110.4M-3.4%	$112.1M+8.9%
Income Tax	$124.9M+97.8%	$88.3M-32.0%	$92.1M-13.1%	$65.9M+54.6%	$63.1M-34.0%	$129.9M+38.7%	$106.1M+19.7%	$42.6M-11.9%
Net Income	$383.9M+454.3%	$322.5M+35.8%	$265.1M+32.4%	$163.3M+113.2%	$69.2M-66.7%	$237.4M+165.9%	$200.3M+30.7%	$76.6M-18.4%
EPS (Basic)	$1.34+487.6%	$1.10+35.6%	$0.91+32.2%	$0.56+116.8%	$0.23-67.8%	$0.81+165.1%	$0.69+30.8%	$0.26-17.9%
EPS (Diluted)	$1.34+487.6%	$1.10+35.6%	$0.91+32.2%	$0.56+116.8%	$0.23-67.8%	$0.81+165.1%	$0.69+30.8%	$0.26-17.9%

Not reported in any period shown, so not listed: SG&A Expenses, Diluted Shares (Avg).

FMCQF Balance Sheet

FMCQF quarterly balance sheet

Metric	FY2520-F	FY2420-F	FY2320-F	FY2220-F	FY2120-F	FY2020-F	FY1920-F	FY1820-F	FY1720-F	FY1620-F	FY1520-F	FY1420-F	FY1320-F	FY1220-F	FY1120-F
Total Assets	$36.4B+4.7%	$34.7B-7.4%	$37.5B-1.9%	$38.2B-1.7%	$38.9B+0.4%	$38.8B+4.8%	$37.0B+23.0%	$30.1B+4.1%	$28.9B+7.3%	$26.9B	N/A	$25.4B+9.8%	$23.1B+3.6%	$22.3B+14.3%	$19.5B
Current Assets	$9.3B+13.0%	$8.2B-14.8%	$9.6B+9.7%	$8.8B-2.7%	$9.0B+1.3%	$8.9B+10.6%	$8.0B-10.5%	$9.0B+17.3%	$7.7B+5.5%	$7.3B	N/A	$6.7B+6.9%	$6.3B+2.6%	$6.1B+7.6%	$5.7B
Cash & Equivalents	$1.9B+53.6%	$1.2B-21.3%	$1.6B+13.9%	$1.4B-18.7%	$1.7B+26.8%	$1.3B+16.9%	$1.1B-54.0%	$2.5B+109.0%	$1.2B+57.2%	$748.0M+36.5%	$548.1M-13.5%	$633.9M-7.2%	$682.8M-0.8%	$688.0M+50.5%	$457.3M
Short-Term Investments	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0n/m	$0n/m	$0n/m	$0
Inventory	$2.5B+17.4%	$2.1B-11.2%	$2.4B-1.9%	$2.5B+6.5%	$2.3B-0.5%	$2.3B+24.1%	$1.9B+11.1%	$1.7B+8.3%	$1.6B+10.0%	$1.4B	N/A	$1.1B+1.7%	$1.1B+5.8%	$1.0B+7.2%	$967.5M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	$3.8B+3.8%	$3.7B	N/A	N/A	N/A	$3.2B+5.5%	$3.0B+0.6%	$3.0B+7.9%	$2.8B
Long-Term Investments	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0n/m	$0n/m	$0n/m	$0
Goodwill	$15.9B+1.4%	$15.7B-3.1%	$16.2B-4.1%	$16.9B+3.9%	$16.3B+2.6%	$15.8B+0.7%	$15.7B+12.5%	$14.0B-3.9%	$14.6B+6.4%	$13.7B	N/A	$13.1B+12.2%	$11.7B+2.1%	$11.4B+24.3%	$9.2B
Total Liabilities	$19.6B+6.5%	$18.4B-12.8%	$21.1B-2.7%	$21.7B-5.9%	$23.1B-2.5%	$23.7B+7.0%	$22.1B+44.8%	$15.3B-3.7%	$15.9B+4.0%	$15.3B	N/A	$14.5B+11.9%	$13.0B+3.1%	$12.6B+13.9%	$11.1B
Current Liabilities	$7.3B+25.1%	$5.9B-13.3%	$6.8B-2.3%	$6.9B-15.8%	$8.2B+10.9%	$7.4B-6.5%	$7.9B+10.4%	$7.2B+12.7%	$6.4B+14.0%	$5.6B	N/A	$3.5B-2.2%	$3.6B+12.1%	$3.2B-25.6%	$4.3B
Non-Current Liabilities	$12.3B-2.2%	$12.6B-12.6%	$14.4B-2.9%	$14.8B-0.4%	$14.9B-8.7%	$16.3B+14.6%	$14.2B+75.3%	$8.1B-14.7%	$9.5B-1.7%	$9.7B	N/A	$11.1B+17.2%	$9.4B+0.1%	$9.4B+38.6%	$6.8B
Long-Term Debt	$6.7B+3.1%	$6.5B-15.8%	$7.7B+0.4%	$7.7B+2.0%	$7.5B-9.5%	$8.3B+14.7%	$7.3B+25.4%	$5.8B-17.0%	$7.0B-3.4%	$7.2B	N/A	$9.0B+16.4%	$7.7B-0.5%	$7.8B+41.7%	$5.5B
Total Equity	$15.6B+3.5%	$15.1B+0.1%	$15.1B+0.7%	$15.0B+4.1%	$14.4B+4.8%	$13.7B+2.2%	$13.4B-0.3%	$13.5B+14.1%	$11.8B+12.1%	$10.5B-1.1%	$10.6B+12.8%	$9.4B+2.3%	$9.2B+3.3%	$8.9B+13.2%	$7.9B
Retained Earnings	$14.3B+22.9%	$11.7B-3.5%	$12.1B+5.4%	$11.5B-6.5%	$12.3B-2.3%	$12.5B+18.2%	$10.6B+4.9%	$10.1B+17.9%	$8.6B+33.6%	$6.4B	N/A	$7.1B+11.4%	$6.4B+14.6%	$5.6B+19.7%	$4.6B

Metric	Q4'2520-F	Q3'256-K	Q2'256-K	Q1'256-K	Q4'2420-F	Q3'246-K	Q2'246-K	Q1'246-K
Total Assets	$36.4B+4.7%	$36.2B0.0%	$36.8B+1.4%	$35.3B-4.6%	$34.7B-7.4%	$36.2B-3.9%	$36.3B-4.9%	$37.1B-4.0%
Current Assets	$9.3B+13.0%	$9.2B+1.8%	$9.6B+2.9%	$8.6B-14.2%	$8.2B-14.8%	$9.0B-5.9%	$9.3B+2.1%	$10.0B+7.6%
Cash & Equivalents	$1.9B+53.6%	$1.5B-3.5%	$2.0B+72.9%	$1.2B-6.7%	$1.2B-21.3%	$1.5B-7.1%	$1.2B-21.4%	$1.2B-6.9%
Inventory	$2.5B+17.4%	$2.4B+4.6%	$2.3B-1.5%	$2.2B-6.2%	$2.1B-11.2%	$2.3B-4.0%	$2.4B-6.4%	$2.4B-5.5%
Goodwill	$15.9B+1.4%	$15.9B+0.5%	$16.0B+1.1%	$15.8B-0.2%	$15.7B-3.1%	$15.9B-2.8%	$15.9B-5.8%	$15.8B-5.9%
Total Liabilities	$19.6B+6.5%	$19.9B+0.9%	$20.0B-0.4%	$18.6B-10.2%	$18.4B-12.8%	$19.7B-7.6%	$20.0B-8.4%	$20.7B-6.0%
Current Liabilities	$7.3B+25.1%	$6.8B+3.0%	$6.7B+4.8%	$5.9B-12.2%	$5.9B-13.3%	$6.6B-6.3%	$6.4B-12.1%	$6.7B-5.2%
Non-Current Liabilities	$12.3B-2.2%	$13.2B-0.1%	$13.3B-2.8%	$12.7B-9.3%	$12.6B-12.6%	$13.2B-8.3%	$13.7B-6.5%	$14.0B-6.4%
Long-Term Debt	$6.7B+3.1%	$7.4B+6.8%	$7.4B+1.4%	$6.6B-12.3%	$6.5B-15.8%	$6.9B-9.6%	$7.3B-3.9%	$7.6B-5.0%
Total Equity	$15.6B+3.5%	$15.2B+0.1%	$15.6B+4.7%	$15.5B+3.4%	$15.1B+0.1%	$15.2B+2.4%	$14.9B+1.0%	$15.0B-0.2%
Retained Earnings	$14.3B+22.9%	$13.9B+12.5%	$13.3B+14.1%	$12.4B+4.1%	$11.7B-3.5%	$12.4B+8.5%	$11.6B+0.2%	$11.9B+0.9%

Not reported in any period shown, so not listed: Short-Term Investments, Accounts Receivable, Long-Term Investments.

FMCQF Cash Flow Statement

FMCQF quarterly cash flow statement

Metric	FY2520-F	FY2420-F	FY2320-F	FY2220-F	FY2120-F	FY2020-F	FY1920-F	FY1820-F	FY1720-F	FY1620-F	FY1520-F	FY1420-F	FY1320-F	FY1220-F	FY1120-F
Operating Cash Flow	$3.1B+27.4%	$2.5B-15.1%	$2.9B+25.4%	$2.3B-17.7%	$2.8B-45.6%	$5.2B+79.6%	$2.9B+22.0%	$2.4B-10.4%	$2.6B+29.3%	$2.0B+6.3%	$1.9B+3.1%	$1.9B-8.5%	$2.0B-0.2%	$2.0B+41.0%	$1.4B
Depreciation & Amortization	$1.8B-2.4%	$1.8B-6.9%	$1.9B-1.5%	$2.0B+7.0%	$1.8B-15.9%	$2.2B+22.1%	$1.8B+115.4%	$830.4M-6.1%	$884.2M+19.4%	$740.3M+5.2%	$703.8M+0.6%	$699.3M+7.9%	$648.2M+7.5%	$602.9M+8.2%	$557.3M
Stock-Based Compensation	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$6.3M-53.6%	$13.6M+489.5%	$2.3M-11.4%	$2.6M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	$1.3B+4.3%	$1.2B+6.7%	$1.1B+15.6%	-$981.9M+5.3%	$932.7M+0.1%	$931.6M+24.6%	$747.9M+10.8%	$675.3M+13.0%	$597.9M
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	$1.6B+40.7%	$1.2B-23.3%	$1.5B+41.9%	$1.1B+7.2%	$985.7M+6.0%	$929.8M-27.7%	$1.3B-5.6%	$1.4B+60.7%	$848.6M
Investing Cash Flow	-$848.0Mn/m	-$87.9Mn/m	-$602.0Mn/m	-$786.0Mn/m	-$1.4Bn/m	-$1.6Bn/m	-$3.7Bn/m	-$280.7Mn/m	-$1.2Bn/m	-$1.3Bn/m	-$979.4Mn/m	-$2.7Bn/m	-$1.2Bn/m	-$2.3Bn/m	-$2.3B
Financing Cash Flow	-$1.6Bn/m	-$2.7Bn/m	-$2.1Bn/m	-$1.7Bn/m	-$1.2Bn/m	-$3.3Bn/m	-$523.9Mn/m	-$781.0Mn/m	-$960.1Mn/m	-$548.4Mn/m	-$985.4M-222.4%	$805.0Mn/m	-$808.0M-272.5%	$468.3M-41.0%	$793.2M
Dividends Paid	$495.9M+37.2%	$361.4M-0.6%	$363.5M-14.1%	$423.2M-4.7%	$444.2M+3.4%	$429.5M+7.9%	$398.1M+7.0%	$372.1M+5.3%	$353.4M+37.1%	$257.7M+0.2%	$257.1Mn/m	-$317.9Mn/m	-$296.1M-209.0%	$271.7M-3.2%	$280.6M
Share Buybacks	$687.8M	N/A	N/A	N/A	N/A	$447.6M-32.3%	$661.6M+1451.6%	$42.6M-38.8%	$69.7M	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'2520-F	Q3'256-K	Q2'256-K	Q1'256-K	Q4'2420-F	Q3'246-K	Q2'246-K	Q1'246-K
Operating Cash Flow	$1.2B+36.6%	$870.2M-20.7%	$912.1M+92.5%	$175.8M+28.0%	$860.9M+8.2%	$1.1B+36.5%	$473.9M-56.9%	$137.4M-11.5%
Depreciation & Amortization	$438.4M-11.2%	$419.2M+2.8%	$441.7M+6.5%	$425.8M-23.0%	$493.7M+4.8%	$407.7M-15.2%	$414.5M-12.6%	$553.0M+16.2%
Investing Cash Flow	-$490.8Mn/m	-$63.4Mn/m	-$167.2M-148.4%	-$116.9Mn/m	-$123.4Mn/m	-$245.1Mn/m	$345.5Mn/m	-$73.8Mn/m
Financing Cash Flow	-$244.6Mn/m	-$1.3Bn/m	$93.2Mn/m	-$149.8Mn/m	-$999.1Mn/m	-$531.7Mn/m	-$896.9Mn/m	-$312.6M-14375.0%
Dividends Paid	$0n/m	$0n/m	N/A	N/A	$0n/m	$0n/m	N/A	N/A
Share Buybacks	-$16.3M	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow.

FMCQF Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

FMCQF quarterly financial ratios

Metric	FY2520-F	FY2420-F	FY2320-F	FY2220-F	FY2120-F	FY2020-F	FY1920-F	FY1820-F	FY1720-F	FY1620-F	FY1520-F	FY1420-F	FY1320-F	FY1220-F	FY1120-F
Gross Margin	25.6%+1.0pp	24.6%-0.7pp	25.3%-2.1pp	27.4%-1.4pp	28.8%-2.2pp	31.0%+0.1pp	30.9%-0.3pp	31.1%-2.7pp	33.8%-0.1pp	33.9%+0.4pp	33.5%	-105.8%	-98.6%-131.9pp	33.3%+0.3pp	33.0%
Operating Margin	9.3%+2.1pp	7.2%+0.2pp	7.0%-0.7pp	7.8%-2.7pp	10.5%-2.4pp	12.9%-0.1pp	13.0%-5.4pp	18.4%+5.1pp	13.3%-1.3pp	14.5%+0.8pp	13.8%-29.1pp	42.8%-2.6pp	45.4%+29.3pp	16.1%-0.4pp	16.5%
Net Margin	5.0%+2.2pp	2.8%+0.2pp	2.6%-0.9pp	3.5%-2.0pp	5.5%-1.0pp	6.5%-0.3pp	6.9%-5.1pp	12.0%+4.8pp	7.2%+0.3pp	6.9%+0.7pp	6.2%-13.7pp	19.9%-2.5pp	22.3%+13.7pp	8.6%+0.1pp	8.5%
Return on Equity	7.3%+3.7pp	3.7%0.0pp	3.7%-1.1pp	4.8%-2.8pp	7.6%-2.7pp	10.4%+0.4pp	10.0%-6.8pp	16.9%+3.8pp	13.0%+1.6pp	11.5%+1.7pp	9.7%-1.3pp	11.1%-0.9pp	12.0%-1.3pp	13.3%-0.3pp	13.6%
Return on Assets	3.2%+1.6pp	1.6%+0.1pp	1.5%-0.4pp	1.9%-0.9pp	2.8%-0.9pp	3.7%0.0pp	3.6%-3.9pp	7.5%+2.2pp	5.3%+0.8pp	4.5%	N/A	4.1%-0.7pp	4.8%-0.5pp	5.3%-0.2pp	5.5%
Current Ratio	1.26-0.1x	1.400.0x	1.42+0.2x	1.27+0.2x	1.10-0.1x	1.20+0.2x	1.01-0.2x	1.250.0x	1.20-0.1x	1.30	N/A	1.93+0.2x	1.77-0.2x	1.93+0.6x	1.34
Debt-to-Equity	0.430.0x	0.43-0.1x	0.510.0x	0.510.0x	0.52-0.1x	0.61+0.1x	0.54+0.1x	0.43-0.2x	0.59-0.1x	0.68	N/A	0.95+0.1x	0.840.0x	0.87+0.2x	0.70
Liabilities-to-Equity	1.260.0x	1.22-0.2x	1.400.0x	1.45-0.2x	1.61-0.1x	1.73+0.1x	1.65+0.5x	1.13-0.2x	1.34-0.1x	1.45	N/A	1.54+0.1x	1.410.0x	1.410.0x	1.40
Asset Turnover	0.63+0.1x	0.580.0x	0.570.0x	0.540.0x	0.51-0.1x	0.560.0x	0.53-0.1x	0.63-0.1x	0.74+0.1x	0.65	N/A	0.210.0x	0.21-0.4x	0.620.0x	0.64
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	8.3%+2.2pp	6.1%-0.9pp	7.0%+1.0pp	6.0%+0.2pp	5.9%-11.8pp	17.7%-8.2pp	25.9%+16.0pp	9.9%+3.1pp	6.8%

Metric	Q4'2520-F	Q3'256-K	Q2'256-K	Q1'256-K	Q4'2420-F	Q3'246-K	Q2'246-K	Q1'246-K
Gross Margin	27.4%+2.4pp	25.4%+1.4pp	25.3%+0.9pp	24.3%-0.6pp	25.0%-2.1pp	24.1%-0.8pp	24.5%-0.3pp	24.8%+0.4pp
Operating Margin	11.7%+6.6pp	9.8%0.0pp	8.9%0.0pp	6.8%+1.6pp	5.1%-3.5pp	9.7%+3.1pp	8.9%+1.5pp	5.2%-0.3pp
Net Margin	6.5%+5.1pp	5.6%+1.2pp	4.7%+0.8pp	3.1%+1.6pp	1.3%-2.4pp	4.5%+2.8pp	3.9%+1.0pp	1.5%-0.3pp
Return on Equity	2.5%+2.0pp	2.1%+0.6pp	1.7%+0.4pp	1.1%+0.5pp	0.5%-0.9pp	1.6%+1.0pp	1.3%+0.3pp	0.5%-0.1pp
Return on Assets	1.1%+0.9pp	0.9%+0.2pp	0.7%+0.2pp	0.5%+0.3pp	0.2%-0.3pp	0.7%+0.4pp	0.5%+0.1pp	0.2%0.0pp
Current Ratio	1.26-0.1x	1.360.0x	1.440.0x	1.460.0x	1.400.0x	1.370.0x	1.46+0.2x	1.50+0.2x
Debt-to-Equity	0.430.0x	0.490.0x	0.480.0x	0.43-0.1x	0.43-0.1x	0.46-0.1x	0.490.0x	0.500.0x
Liabilities-to-Equity	1.260.0x	1.310.0x	1.28-0.1x	1.20-0.2x	1.22-0.2x	1.30-0.1x	1.34-0.1x	1.38-0.1x
Asset Turnover	0.160.0x	0.160.0x	0.150.0x	0.150.0x	0.150.0x	0.150.0x	0.140.0x	0.140.0x

Not reported in any period shown, so not listed: FCF Margin.

Where FRESENIUS MED CARE AG Ranks

Frequently Asked Questions

What is FRESENIUS MED CARE AG's annual revenue?

FRESENIUS MED CARE AG (FMCQF) reported $23.0B in total revenue for fiscal year 2025. This represents a 15.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is FRESENIUS MED CARE AG's revenue growing?

FRESENIUS MED CARE AG (FMCQF) revenue grew by 15.1% year-over-year, from $20.0B to $23.0B in fiscal year 2025.

Is FRESENIUS MED CARE AG profitable?

Yes, FRESENIUS MED CARE AG (FMCQF) reported a net income of $1.1B in fiscal year 2025, with a net profit margin of 5.0%.

What is FRESENIUS MED CARE AG's EBITDA?

FRESENIUS MED CARE AG (FMCQF) had EBITDA of $3.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does FRESENIUS MED CARE AG have?

As of fiscal year 2025, FRESENIUS MED CARE AG (FMCQF) had $1.9B in cash and equivalents against $6.7B in long-term debt.

What is FRESENIUS MED CARE AG's gross margin?

FRESENIUS MED CARE AG (FMCQF) had a gross margin of 25.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is FRESENIUS MED CARE AG's operating margin?

FRESENIUS MED CARE AG (FMCQF) had an operating margin of 9.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is FRESENIUS MED CARE AG's net profit margin?

FRESENIUS MED CARE AG (FMCQF) had a net profit margin of 5.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is FRESENIUS MED CARE AG's return on equity (ROE)?

FRESENIUS MED CARE AG (FMCQF) has a return on equity of 7.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is FRESENIUS MED CARE AG's operating cash flow?

FRESENIUS MED CARE AG (FMCQF) generated $3.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are FRESENIUS MED CARE AG's total assets?

FRESENIUS MED CARE AG (FMCQF) had $36.4B in total assets as of fiscal year 2025, including both current and long-term assets.

How much does FRESENIUS MED CARE AG spend on research and development?

FRESENIUS MED CARE AG (FMCQF) invested $185.4M in research and development during fiscal year 2025.

Does FRESENIUS MED CARE AG buy back shares?

Yes, FRESENIUS MED CARE AG (FMCQF) spent $687.8M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does FRESENIUS MED CARE AG have outstanding?

FRESENIUS MED CARE AG (FMCQF) had 279M shares outstanding as of fiscal year 2025.

What is FRESENIUS MED CARE AG's current ratio?

FRESENIUS MED CARE AG (FMCQF) had a current ratio of 1.26 as of fiscal year 2025, which is considered adequate.

What is FRESENIUS MED CARE AG's debt-to-equity ratio?

FRESENIUS MED CARE AG (FMCQF) had a debt-to-equity ratio of 0.43 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.

What is FRESENIUS MED CARE AG's liabilities-to-equity ratio?

FRESENIUS MED CARE AG (FMCQF) had a liabilities-to-equity ratio of 1.26 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.

What is FRESENIUS MED CARE AG's return on assets (ROA)?

FRESENIUS MED CARE AG (FMCQF) had a return on assets of 3.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is FRESENIUS MED CARE AG's P/E ratio?

FRESENIUS MED CARE AG (FMCQF) trades at 10.2x earnings, its market capitalization divided by $1.1B net income, FY2025. The market capitalization is $11.7B as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is FRESENIUS MED CARE AG's price-to-sales ratio?

FRESENIUS MED CARE AG (FMCQF) trades at 0.5x sales, its market capitalization divided by $23.0B revenue, FY2025. The market capitalization is $11.7B as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is FRESENIUS MED CARE AG's Altman Z-Score?

FRESENIUS MED CARE AG (FMCQF) has an Altman Z-Score of 1.80, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is FRESENIUS MED CARE AG's Piotroski F-Score?

FRESENIUS MED CARE AG (FMCQF) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are FRESENIUS MED CARE AG's earnings high quality?

FRESENIUS MED CARE AG (FMCQF) has an earnings quality ratio of 2.74x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can FRESENIUS MED CARE AG cover its interest payments?

FRESENIUS MED CARE AG (FMCQF) has an interest coverage ratio of 4.87x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.