FMS
Fresenius Medical Care AG
$24.75
▲ 2.8%Updated Today 12:18 PM ET
FMS at a glance — five pillars scored 0–100 from real filed financials.
Overall: Neutral · 53/100. A wider, greener shape means more pillars look healthy. Dividends scores 0 when a company pays none — that is a choice, not a flaw.
▼ Down 16.3% over the last 12 months
Market Cap
$11.79B
P/E
11.56x
Forward P/E (est.)
8.26x
ROE
7.2%
Revenue Growth
-0.7%
EPS Growth
55.7%
Profit Margin
4.9%
FCF Yield
33.1%
Debt / Equity
0.81x
ROIC
8.0%
Interest Coverage
4.87x
Current Ratio
1.26x
Dividend Yield
3.6%
Implied Growth (rev. DCF)
—
Rating Score
53/100
Fresenius Medical Care AG (FMS) is a large-cap company in the Health Care industry, part of the Health Care sector of the S&P 500, with a market value around $11.79B.
In its latest reported year it generated about $21.20B in revenue and $1.06B in net profit.
Our model rates FMS Neutral (53/100) on growth, profitability, financial health, and valuation. The summary below is built from its filed financials and current ratios and refreshes automatically.
Evidence of durable competitive advantage in the filed financials (10 years of history).
Some durable-advantage evidence, but not across the board — dig into which ingredient is weak and whether it's cyclical or structural.
29.1% average over the last 3 years
±2.2 pts around 31.0% across 7 years
grew in 6 of the last 9 year-over-year periods
positive in 10 of 10 years
8.0% latest fiscal year
A moat can't be proven by numbers alone — this scores the evidence a durable advantage leaves behind (pricing power, consistency, returns on capital), computed the same way for every stock. Pair it with the business overview before concluding anything.
Technical analysis reads price and volume to judge momentum and timing. It complements the fundamentals above — it does not replace them. Here is what FMS's chart says today, with each tool explained.
Trend — moving averages. A moving average is the average closing price over a window, which smooths out daily noise. FMS trades near $24.75, above its 50-day average ($22.32) and 200-day average ($23.56). Price above both averages, with the shorter one above the longer, is the textbook definition of an uptrend — momentum favours buyers.
Momentum — RSI. The Relative Strength Index runs 0–100 and measures how strong recent gains are versus losses. Above 70 is "overbought", below 30 "oversold". At 57 it is in neutral territory — neither stretched nor washed out.
MACD. MACD compares two moving averages to flag shifts in momentum. Its histogram is currently negative — short-term momentum is fading.
Volatility — ATR. Average True Range is the typical daily move. FMS's is $0.47 (~1.9% of price), so swings of about that size each day are normal — handy for setting a stop that isn't too tight.
Support & resistance. Over the last month FMS found buyers near $21.72 (support) and sellers near $24.00 (resistance); its 52-week range is $20.02–$28.21. A decisive break beyond either edge often marks the next move.
Volume. The latest session traded 0.4× the 20-day average — lighter than usual, so the move carries less conviction. Rising volume on up-days suggests real buying; on down-days, real selling.
Educational information to help you read a chart — not a recommendation or a forecast. It updates daily as the price and indicators change.
4Y CAGR
2.7%
Revenue moved from $17.90B in 2016 to $21.20B in 2025, a 1.9% compound annual growth rate. The most recent year declined 0.7% year over year. Shrinking revenue is worth a closer look — is it cyclical or structural?
Gross Margin
25.9%
Operating Margin
9.3%
Net Margin
5.0%
ROE
7.2%
Fresenius Medical Care AG keeps about 4.9% of each sales dollar as net profit, with a 25.9% gross margin and 9.3% operating margin. Return on equity is 7.2% and return on invested capital about 8.0%. Thin margins leave less cushion if costs rise.
Total Debt
$6.15B
Net Debt
$4.42B
Net Debt / EBITDA
2.24x
Debt / Equity
0.81x
Leverage: debt-to-equity is 0.8x, and operating profit covers interest about 4.9x, with a current ratio of 1.3x. That is a moderate, manageable debt load for most businesses. It carries roughly $6.15B of total debt against $1.73B of cash.
Operating CF
$2.90B
Free Cash Flow
$2.90B
FCF Margin
13.7%
In the latest year Fresenius Medical Care AG produced about $2.90B of operating cash flow and $2.90B of free cash flow after capital spending. That is a free-cash-flow yield of about 33.1% on today's price. Strong cash generation funds dividends, buybacks, and reinvestment.
Can the payout survive a bad year? Scored from filed cash flow, earnings coverage, and the raise/cut record.
The dividend is being paid, but coverage or consistency is thinner than an income investor should rely on without a closer look.
Dividend yield
3.6%
Total paid (latest FY)
$456.32M
History on record
8 years
dividend uses 16% of free cash flow
43% of net income paid out
total dividends increased 2 years in a row
payout was cut at least once in the last 8 years
Coverage uses the latest fiscal year as filed with the SEC; the streak counts total dollars paid (per-share figures can carry split artifacts). Educational information, not income advice.
P/E
11.56x
P/S
0.56x
P/B
0.89x
EV / EBITDA
4.56x
FMS trades at 11.6x trailing earnings (about 8.3x on estimated forward earnings), 0.6x sales, and 0.9x book value. That is an undemanding multiple — potentially cheap if the business is stable.
Where FMS sits versus its Health Care sector peers in the S&P 500.
Bands show the middle half (25th–75th percentile) of the 83 Health Care companies in the S&P 500 — the peer-relative anchor professional comps analysis uses. Context only — not investment advice.
How FMS stacks up against its Health Care peers — valuation, profitability, and growth versus the sector median.
In the Health Care sector (324 S&P 500 companies), FMS ranks #39 of 324 by our overall rating. It trades at a discount versus the sector on earnings (11.6x P/E vs. 25.4x median) with a lower return on equity (7.2% vs. 14.1%) and slower revenue growth (-0.7% vs. 7.6%).
P/E vs sector
11.6x
median 25.4x
ROE vs sector
7.2%
median 14.1%
Growth vs sector
-0.7%
median 7.6%
Sector rank
#39
of 324 by rating
Valuation vs. quality map
The sweet spot is upper-left: more profitable (higher ROE) for a lower P/E. Dashed lines mark the sector median.
Peers are the closest Health Care companies by sub-industry and size. Sector median is across all 324 S&P 500 names in the sector. Educational, not a recommendation.
Project revenue → earnings → price. Edit the assumptions to build your own case.
2030 price target (Base Case)
$0.00 – $0.00
vs. $24.75 today · expected CAGR -6% – 5%
| Metric | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|
| Revenue | $21.83B | $22.49B | $23.16B | $23.86B | $24.57B |
| Net income | $1.09B | $1.12B | $1.16B | $1.19B | $1.23B |
| EPS | $2.29 | $2.36 | $2.43 | $2.50 | $2.58 |
| Share price (low) | $16.04 | $16.52 | $17.01 | $17.52 | $18.05 |
| Share price (high) | $27.49 | $28.31 | $29.16 | $30.04 | $30.94 |
| CAGR (low–high) | -35% / 11% | -18% / 7% | -12% / 6% | -8% / 5% | -6% / 5% |
Educational model on sample fundamentals — not a forecast or investment advice. Outputs are only as good as your assumptions.
The case for FMS:
- Healthy free-cash-flow yield (~33.1%) funds buybacks and dividends.
- Pays a 3.6% dividend on top of any price gains.
The case against FMS:
- Revenue growth is slow/negative (-0.7%), limiting the upside engine.
- Thin net margins (4.9%) leave little room for error.
Growth risk — sluggish revenue (-0.7%) leaves little margin for execution missteps.
Margin risk — thin profitability (4.9%) is vulnerable to cost or pricing pressure.
Market risk — sector rotation, the economic cycle, and broad sentiment move the stock regardless of fundamentals.
On balance, the picture is mixed: Fresenius Medical Care AG is a large-cap health care business with shrinking revenue, with modest profitability, and a heavier debt load to watch. It trades at 11.6x earnings, which our model scores Neutral (53/100). Weigh this against your own goals and time horizon — this is educational information, not a recommendation.
Analyst Ratings
What 28 Wall Street analysts covering FMS recommend (July 2026). Consensus is a useful sanity check — not a substitute for your own homework.
Analysts have turned more cautious over the last three months (-16 pts of buy ratings).
Latest SEC Filings
FMS's most recent filings, straight from SEC EDGAR. Annual and quarterly reports are the deep dives; 8-Ks flag material events the moment they happen.
In the Idea Lab
FMS — frequently asked questions
Is FMS a good stock to buy?
We don't give buy or sell advice. Our model rates Fresenius Medical Care AG Neutral (53/100) based on its growth, profitability, financial health, and valuation — use that as a research starting point and make your own decision.
What is FMS's rating on The Stocks School?
Fresenius Medical Care AG currently scores 53/100 (Neutral) on our transparent model, which weighs real fundamentals: growth, margins, returns on capital, balance-sheet strength, and valuation.
How our ratings work →Where does FMS's data come from?
Live price data plus real fundamentals and 5-year financials pulled directly from Fresenius Medical Care AG's SEC filings — refreshed automatically, not hand-entered.
How is the 5-year projection for FMS calculated?
It's a scenario model: it grows revenue at an assumed rate, applies a profit margin and a valuation multiple, and shows the resulting share-price range. The assumptions are yours to change — it's a tool for thinking, not a prediction.
Is this FMS analysis financial advice?
No. Everything on this page is educational research, not financial advice or a recommendation to buy or sell FMS. Always do your own research and consider a licensed professional.
Data notice. Fundamentals and financial statements are sourced from company filings (SEC EDGAR) and market-data providers; prices and market caps refresh on trading days and may be delayed. Ratings, projections, technical signals, and written summaries are model- or rule-generated for education and may simplify or lag the latest filings.
Not advice. Nothing on this page is investment advice or a recommendation to buy, hold, or sell any security. Do your own research and consult a licensed financial professional before investing.