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Fresenius Medical Care AG & Co. KGaA
(XETRA:FME)
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Rating:64Neutral
Price Target:
€40.00
▼(-0.32% Downside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by improving financial performance (strong TTM revenue inflection and better operating margins) and a supportive valuation (moderate P/E with a ~3.35% dividend yield). These positives are tempered by mixed technicals (RSI below 50 and price below the 20-day average), along with only mid-level net margins and slightly softer recent free-cash-flow momentum.
Positive Factors
Recurring integrated demand
Dialysis treatments require multiple sessions each week, while consumables are needed for each session; combining clinics with products therefore creates recurring demand across internal and external customers. This integrated base can support durable revenue visibility over the next several quarters.
Negative Factors
Mid-level net profitability
Net margin of about 4.8% remains only mid-level and has been roughly flat versus 2025, while margins have varied across years. This leaves less earnings protection if operating conditions become less favorable over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring integrated demand
Dialysis treatments require multiple sessions each week, while consumables are needed for each session; combining clinics with products therefore creates recurring demand across internal and external customers. This integrated base can support durable revenue visibility over the next several quarters.
Read all positive factors
Fresenius Medical Care AG & Co. KGaA (FME) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€9.96B
Dividend Yield3.97%
Average Volume (3M)889.18K
Price to Earnings (P/E)11.3
Beta (1Y)0.43
Revenue Growth-0.47%
EPS Growth48.60%
CountryDE
Employees107,226
SectorGeneral
Sector StrengthN/A
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)3.32
Shares Outstanding268,564,640
10 Day Avg. Volume1,013,213
30 Day Avg. Volume889,177
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)0.89
Price to Sales (P/S)0.60
P/FCF Ratio6.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€37.40Price Target Upside-6.79% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering12
EPS Forecast (FY)4.08
Revenue Forecast (FY)€19.45B
Fresenius Medical Care AG & Co. KGaA Business Overview & Revenue Model
Company Description
Fresenius Medical Care AG & Co. KGaA operates as a premier international provider of comprehensive dialysis services and related care, with a significant presence in Germany, North America, and numerous other countries. The company delivers essent...
How the Company Makes Money
FME makes money primarily through two interconnected revenue streams: (1) dialysis treatment services and (2) dialysis products (equipment and consumables). In its dialysis services business, the company generates revenue by providing recurring di...
Fresenius Medical Care AG & Co. KGaA Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
63
Positive
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 19.43B | 19.63B | 19.34B | 19.45B | 19.40B | 17.62B |
| Gross Profit | 5.12B | 5.03B | 4.76B | 4.93B | 5.31B | 5.08B |
| EBITDA | 3.55B | 3.34B | 3.21B | 2.93B | 3.22B | 3.46B |
| Net Income | 937.80M | 978.00M | 537.91M | 499.00M | 673.40M | 969.31M |
Balance Sheet | ||||||
| Total Assets | 31.29B | 31.00B | 33.57B | 33.93B | 35.75B | 34.37B |
| Cash, Cash Equivalents and Short-Term Investments | 1.45B | 1.73B | 1.45B | 1.54B | 1.44B | 1.62B |
| Total Debt | 10.96B | 10.80B | 10.98B | 12.05B | 13.21B | 13.32B |
| Total Liabilities | 17.76B | 16.72B | 17.80B | 19.10B | 20.30B | 20.39B |
| Stockholders Equity | 12.56B | 13.31B | 14.58B | 13.62B | 15.45B | 13.98B |
Cash Flow | ||||||
| Free Cash Flow | 1.78B | 1.77B | 1.69B | 1.94B | 1.44B | 1.64B |
| Operating Cash Flow | 2.83B | 2.68B | 2.39B | 2.63B | 2.17B | 2.49B |
| Investing Cash Flow | -896.02M | -693.55M | -84.94M | -544.23M | -734.73M | -1.20B |
| Financing Cash Flow | -2.57B | -1.43B | -2.57B | -1.86B | -1.62B | -1.02B |
Fresenius Medical Care AG & Co. KGaA Technical Analysis
Negative
40.13
Price Trends
39.95
Negative
40.30
Negative
38.86
Negative
Market Momentum
-0.48
Positive
38.70
Neutral
15.91
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:FME, the sentiment is Negative. The current price of 40.13 is above the 20-day moving average (MA) of 39.22, above the 50-day MA of 39.95, and above the 200-day MA of 38.86, indicating a bearish trend. The MACD of -0.48 indicates Positive momentum. The RSI at 38.70 is Neutral, neither overbought nor oversold. The STOCH value of 15.91 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:FME.
Fresenius Medical Care AG & Co. KGaA Risk Analysis
Fresenius Medical Care AG & Co. KGaA disclosed 26 risk factors in its most recent earnings report. Fresenius Medical Care AG & Co. KGaA reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 2 New Risks
1.
We need to develop new internal functions to perform certain business services that Fresenius SE provided to us prior to the Conversion. Q4, 2023
2.
As a company with operations spanning 150 countries, we face specific risks from our global operations. Q4, 2023
Fresenius Medical Care AG & Co. KGaA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | €1.92B | 12.76 | 10.62% | 1.95% | 6.37% | 71.55% | |
66 Neutral | €23.62B | 15.40 | 7.89% | 2.48% | 5.30% | 35.29% | |
64 Neutral | €9.96B | 11.30 | 7.21% | 3.97% | -0.47% | 48.60% | |
64 Neutral | €244.63M | 8.47 | 11.54% | 0.78% | 2.94% | -14.28% | |
59 Neutral | €963.91M | 22.50 | 3.18% | 1.39% | 4.91% | 11.71% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | €1.54B | 43.42 | 4.19% | 1.69% | ― | ― |
* General Sector Average
DE:FME
Fresenius Medical Care AG & Co. KGaA
37.50
-8.18
-17.91%
DE:COP
CompuGroup Medical
29.20
5.88
25.21%
DE:DRW3
Draegerwerk AG & Co. KGaA
116.60
51.88
80.16%
DE:FRE
Fresenius SE & Co. KGaA
42.36
-4.40
-9.42%
DE:MED
MEDICLIN
5.15
1.91
58.71%
DE:RHK
RHON-KLINIKUM AG
14.40
2.79
24.02%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.