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Fresenius Medical Care AG & Co. KGaA (FME) fair value: what the stock is really worth

As of Nov 5, 2026: fair value (intrinsic value) of Fresenius Medical Care AG & Co. KGaA stock €39.20, price €42.32, that is 7.4% below the price, quality 64 out of 100. Rating: fairly valued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.

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Healthcare DE · ISIN DE0005785802

FM Fresenius Medical Care AG & Co. KGaA logo Some data Nov 4, 2026

Fresenius Medical Care AG & Co. KGaA

FME · XETRA
Fairly valued, in an uptrend

The stock costs about what our calculation considers fair.

Quality 64/100
Low debt
Generates free cash flow
3.5% dividend yield · Well covered
Ranks above peers (9/14)
Fair value €39.20 · Fairly valued (−7.4%)
Thin margins · 4.8% net margin (TTM)
Some data
Weak Growth (revenue 5y +1.9 %/yr in EUR)
Narrow moat 42/100 · thin data

Risks from the AI analysis

🚩Regulatory scrutiny and lawsuits could raise costs

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€56.85 €23.25 Fair Value €39.20 Sep 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.

How to read this chart

60‑month range €23.25 – €56.85 · fair‑value band €25.54 – €55.08 · the €42.32 price screens above the €39.20 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.

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Company profile

Fresenius Medical Care AG provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

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The company offers dialysis treatment and related laboratory and diagnostic services through a network of outpatient dialysis clinics; materials, training, and patient support services comprising clinical monitoring, follow-up assistance, and arranging for delivery of the supplies to the patient's residence; and dialysis services under contract to hospitals in the United States for the hospitalized end-stage renal disease (ESRD) patients and for patients suffering from acute kidney failure.

The company operates through Care Delivery and Care Enablement segments.

It also develops, manufactures, and distributes various health care products, including hemodialysis machines, peritoneal dialysis cyclers, peritoneal dialysis solutions, hemodialysis concentrates, solutions and granulates, bloodlines, renal pharmaceuticals, systems for water treatment, and acute cardiopulmonary and apheresis products.

In addition, the company develops, acquires, and in-licenses renal pharmaceuticals; offers renal medications and supplies to patients at homes or to dialysis clinics; and provides vascular specialty, ambulatory surgery center, physician nephrology practice management, pharmacy and other services.

The company sells its products to dialysis clinics, hospitals, and specialized treatment clinics, as well as through local sales forces, independent distributors, dealers, and sales agents. The company was incorporated in 1996 and is headquartered in Bad Homburg, Germany.

Stock analysis

Fresenius Medical Care AG & Co. KGaA (FME) currently trades at €42.32, while our model-based Fair Value estimate is €39.20, so the stock looks roughly fairly valued today (gap 7.9%).

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Valuation

Bull case: the DCF Models group reads highest at a median of €92.54 per share, and 20 of the 24 models we run sit above the €42.32 price.

Bear case: the Earnings-Based group reads lowest at €19.23, and 4 of the 24 models stay below the price. Data coverage for this calculation is medium.

Scenario range: €25.54 (bear) to €55.08 (bull), the price of €42.32 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 64/100 (solid quality), in the Healthcare sector.

Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.

Fresenius Medical Care AG & Co. KGaA reported revenue of €19.6B in FY2025 versus €17.6B in FY2021, a compound +2.7%/yr. Reported net income was €978M in FY2025, compounding +0.2%/yr from FY2021.

Key figures

Market cap €11.4B Large · P/E ratio 12.7 · P/S ratio 0.59 · EPS (TTM) €3.32 · Dividend yield 3.5% · Net margin 4.8% · Return on equity 8.5% · Return on assets (EBIT) 3.9%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 6% below its 52-week high and 27% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −4% fair-value upside, at −7%, FME screens richer than that median.

Fair Value models

Bear €25.54 Fair Value €39.20 Bull €55.08
Price €42.32 · Downside -7.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€1.55 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCF €74.47 €122.40 €196.51 79
Growth DCF €76.88 €120.61 €184.80 77
Residual Income €41.40 €44.01 €49.00 76
All 24 models by family
DCF Models
FCF DCF €74.47 €122.40 €196.51 79
Owner Earnings €70.11 €115.70 €186.21 75
5Y Revenue Exit €54.26 €89.49 €133.21 72
5Y EBITDA Exit €90.50 €155.67 €230.16 74
5Y P/E Exit €50.40 €82.44 €114.86 70
10Y Revenue Exit €58.71 €92.54 €135.52 66
10Y EBITDA Exit €84.00 €138.88 €209.45 67
10Y P/E Exit €58.14 €87.61 €121.52 64
Earnings-Based
Graham-Dodd €24.76 €67.87 €89.04 65
Lynch FV €13.46 €19.23 €25.00 61
PEG = 1.0 €13.46 €19.23 €25.00 57
EPV €41.05 €50.95 €59.73 74
Dividend Discount
Gordon GGM €15.08 €32.81 €54.96 65
DDM Multi-Stage €15.08 €24.07 €34.02 66
Multiples
P/E Multiple €60.09 €80.11 €100.14 63
P/S Multiple €46.43 €61.91 €77.38 58
EV/EBIT €42.19 €71.28 €100.36 64
EV/EBITDA €84.01 €127.03 €170.06 66
EV/Revenue €17.21 €43.90 €70.59 50
Growth DCF
Growth DCF €76.88 €120.61 €184.80 77
Rev-Margin DCF €54.26 €90.30 €130.60 72
Economic Profit
Residual Income €41.40 €44.01 €49.00 76
ROIC Compounder €41.05 €51.72 €68.95 72
Growth Earnings
Growth-Adj P/E €47.44 €67.77 €88.10 67

The fair value above starts from this blend and is adjusted for a year distorted by one-off effects.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 64/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 34
How much profit the company makes from its sales and capital
Quality Growth 56
Are margins and returns getting better?
Cashflow 63
Do the profits arrive as real cash?
Financial strength 44
Debt, balance sheet and risk of trouble
Investment 95
Does it invest with discipline instead of growing at any price?
Low Volatility 73
How calm the share price moves, does not count
Price momentum 46
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 58
Distance to the 52-week high, does not count
New shares 100
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 40/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
+1.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.9%
Start year 2020 (pandemic). Over 10 years: +2.5% a year
Revenue growth 28 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.0%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
≈ +32.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +28.6%
Dividend (yield on the price)3.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−3.2% vs 0.8%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.3% → 9%
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 1.80 per share, median 7.95 in 2015 to 2018). It measures the recovery from the trough, not lasting growth.
⚠ Rate on operating basis: 2025 sits 83% above its own trend.

Growth Forecast

Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−6.5%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −8.5% a year for the price and +0.3% for the forecasts.
Forecast 2026 (sales)−0.6%
Forecast 2027 (sales)+3.5%
Projected 2028 (sales)+3.3%
Projected 2029 (sales)+3.1%
Projected 2030 (sales)+2.9%

Watch FME, get fair value alerts →

Note from the team Oct 11, 2026
AI conclusion: Thin evidence across categories yields only limited signals of durable advantage, with the main weakness being persistently low ROE and net margins that restrict profitability visibility.
Main risk: Ongoing FTC investigations, antitrust claims, wage lawsuits and reimbursement rule changes such as TDAPA could increase compliance expenses or limit revenue from US operations.
Bull case: By deepening its data and artificial intelligence capabilities the company could strengthen differentiation against rivals and navigate regulatory demands more efficiently through better clinical outcomes.
Bear case: Intensified competition from named rivals combined with regulatory actions could erode margins and force costly adjustments to its integrated product-service model.
Fresenius Medical Care is transitioning to new CEO Shervin Korangy effective mid-October after Helen Giza steps down. The company is simultaneously refining its China commercial approach with a more localized portfolio while rolling out advanced dialysis systems like the 5008X in the US. Does the leadership change accelerate progress on these strategic moves or risk disrupting ongoing execution?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Care Facilities · 236 stocks

Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 64 · Top 25%
Fair Value upside −7.4% · Below median
Profitability
Return on equity (12 months) 8.5% · Above median
Return on assets 3.2% · Below median
Net margin (12 months) 4.8% · Below median
Operating margin (12 months) 10.8% · Above median
Growth and dividend
Revenue growth (quarter YoY) 1.4% · Below median
Dividend yield (12 months) 3.5% · Above median
Balance sheet
Debt / equity 0.43× · Above median

Valuation Multiplesvs Medical Care Facilities median · lower = cheaper

P/E (12 months) 12.7× · Cheapest 25%
P/B 0.85× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months) 0.59× · Cheapest 25%
Price / free cash flow 6.4× · Cheapest 25%
EV/EBITDA 5.7× · Cheapest 25%
PEG 0.75× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)23 · sector 35
FUTURE (revenue growth)7 · sector 29
PAST (return on equity)34 · sector 32
HEALTH (low debt)79 · sector 90
DIVIDEND (yield)70 · sector 40

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Universal Health Services, Inc UHS $196.46 $447.22 +128% vs FME
Aier Eye Hospital Group 300015 ¥8.99 ¥10.88 +21% vs FME
DaVita Inc DVA $192.66 $218.90 +14% vs FME
HCA Healthcare, Inc HCA $510.70 $547.34 +7% vs FME
Tenet Healthcare Corporation THC $292.25 $279.20 −4% vs FME
The Ensign Group ENSG $188.31 $140.09 −26% vs FME
Encompass Health Corporation EHC $141.03 $94.81 −33% vs FME
Fresenius SE FRE €51.87 €34.56 −33% vs FME
Apollo Hospitals Enterprise Limited APOLLOHOSP ₹8,371 ₹5,234 −37% vs FME
Dr. Sulaiman Al Habib Medical Services Group 4013 215.80 SAR 109.45 SAR −49% vs FME

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Fresenius Medical Care AG & Co. KGaA: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Fresenius Medical Care AG & Co. KGaA Fair Value". https://www.fairvalue-calculator.com/stock/FME

Frequently asked questions

Is Fresenius Medical Care AG & Co. KGaA (FME) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of €39.20 versus a price of €42.32, about 7% lower (fairly valued).
What is the fair value of FME?
Our model-based fair value for Fresenius Medical Care AG & Co. KGaA is €39.20 (as of Nov 4, 2026), built from audited fundamentals. The current price: €42.32.
What is the quality score of FME?
Fresenius Medical Care AG & Co. KGaA has a Quality Score of 64/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Fresenius Medical Care AG & Co. KGaA (FME)?
Our model-based price target is the fair value of €39.20 (as of Nov 4, 2026) from 24 valuation models. Cautious scenario €25.54, optimistic scenario €55.08. It is a calculation from audited fundamentals, not an analyst target.
What is the Fresenius Medical Care AG & Co. KGaA stock forecast for 2026?
Our models put fair value at €39.20, about 7% lower versus a price of €42.32 (fairly valued). Cautious scenario €25.54, optimistic scenario €55.08. The calculation is refreshed regularly with new filings.
What is the revenue of Fresenius Medical Care AG & Co. KGaA (FME)?
Fresenius Medical Care AG & Co. KGaA reported trailing-twelve-month revenue of about €19.4B (latest available figure, as of Nov 4, 2026).
Does Fresenius Medical Care AG & Co. KGaA pay a dividend?
Fresenius Medical Care AG & Co. KGaA currently shows a dividend yield of 3.52% relative to its recent price (as of Nov 4, 2026).
What growth is priced into Fresenius Medical Care AG & Co. KGaA (FME)?
For today's price to be fair in a discounted-cash-flow model, Fresenius Medical Care AG & Co. KGaA would have to grow free cash flow by -6.5 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.9 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of FME use?
Our models discount Fresenius Medical Care AG & Co. KGaA at 8.5 %: a base by market capitalisation (large), damped by beta 0.79, country premium for Germany. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Fresenius Medical Care AG & Co. KGaA that is -6.5 % per year a year over ten years, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has Fresenius Medical Care AG & Co. KGaA (FME) delivered so far?
Over the past 5 years revenue at Fresenius Medical Care AG & Co. KGaA grew +1.9 % a year. The price currently implies -6.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Fresenius Medical Care AG & Co. KGaA (FME) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into Fresenius Medical Care AG & Co. KGaA (-6.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Fresenius Medical Care AG & Co. KGaA (FME)?
The free-cash-flow yield on the price is 15.54 %: that much free cash flow Fresenius Medical Care AG & Co. KGaA produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Fresenius Medical Care AG & Co. KGaA (FME)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fresenius Medical Care AG & Co. KGaA it is €39.20 per share (as of Nov 4, 2026), against a price of €42.32. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Fresenius Medical Care AG & Co. KGaA stock overvalued or undervalued in 2026?
As of Nov 4, 2026, FME trades above its calculated fair value: price €42.32, fair value €39.20, a gap of about −7% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FME?
No. The price is what the market pays today (€42.32); the fair value is what the company's own numbers justify (€39.20). For Fresenius Medical Care AG & Co. KGaA the two are €3.12 per share apart. That gap is exactly why we show both numbers side by side.
How much is Fresenius Medical Care AG & Co. KGaA worth?
The market values Fresenius Medical Care AG & Co. KGaA at about €11.4B (market capitalisation, as of Nov 4, 2026). Per share that is €42.32; our models calculate a fair value of €39.20 per share.
What do the bullish and bearish scenarios say about FME?
Our models span a range for Fresenius Medical Care AG & Co. KGaA: cautious scenario €25.54, base €39.20, optimistic €55.08 per share (as of Nov 4, 2026, price €42.32). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FME?
Fresenius Medical Care AG & Co. KGaA trades at a price-to-earnings ratio of 12.7 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €39.20 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 17.3. Other multiples: PEG 0.8, P/B 0.9, P/S 0.6, EV/EBITDA 5.7.
What is the PEG ratio of FME?
The PEG ratio of Fresenius Medical Care AG & Co. KGaA is 0.75 (P/E divided by earnings growth, as of Nov 4, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Fresenius Medical Care AG & Co. KGaA (FME)?
Balance-sheet figures for Fresenius Medical Care AG & Co. KGaA (as of Nov 4, 2026): return on equity 8.5%, debt of 0.43 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is FME from its 52-week high?
Fresenius Medical Care AG & Co. KGaA trades at €42.32, about 6% below its 52-week high of €44.86 and 27% above the low of €33.39 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of €39.20 is for.
Which stocks are comparable to Fresenius Medical Care AG & Co. KGaA?
From the same area (Healthcare) we also value HCA Healthcare, Inc, Fresenius SE, Tenet Healthcare Corporation, Dr. Sulaiman Al Habib Medical Services Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Fresenius Medical Care AG & Co. KGaA stock attractive at the current price?
The data as of Nov 4, 2026: price €42.32, calculated fair value €39.20 (−7%), Quality Score 64/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FME calculated?
We run Fresenius Medical Care AG & Co. KGaA through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €39.20, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Fresenius Medical Care AG & Co. KGaA itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Fresenius Medical Care AG & Co. KGaA (FME)?
The closing price on Nov 5, 2026 was €42.32. Our model-based fair value is €39.20, about 7% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fresenius Medical Care AG & Co. KGaA right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (€25.54 to €55.08) leaves room in how you read the outcome.
Where does the earnings growth of Fresenius Medical Care AG & Co. KGaA (FME) come from?
Earnings per share at Fresenius Medical Care AG & Co. KGaA grew −3.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.3 %, EBIT margin −6.4 %, tax rate +0.8 %, residual (interest, one-offs) −1.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Fresenius Medical Care AG & Co. KGaA

How large is the market capitalisation of Fresenius Medical Care AG & Co. KGaA (FME)?
The market capitalisation of Fresenius Medical Care AG & Co. KGaA is €11.4B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Fresenius Medical Care AG & Co. KGaA (FME)?
The price-to-sales ratio of Fresenius Medical Care AG & Co. KGaA is 0.59 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Fresenius Medical Care AG & Co. KGaA (FME)?
Earnings per share at Fresenius Medical Care AG & Co. KGaA are €3.32 (price ÷ EPS = P/E 12.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Fresenius Medical Care AG & Co. KGaA (FME)?
The dividend yield of Fresenius Medical Care AG & Co. KGaA is 3.5% (payout 44.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Fresenius Medical Care AG & Co. KGaA (FME)?
The net margin of Fresenius Medical Care AG & Co. KGaA is 4.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Fresenius Medical Care AG & Co. KGaA (FME)?
The return on equity (ROE) of Fresenius Medical Care AG & Co. KGaA is 8.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Fresenius Medical Care AG & Co. KGaA (FME)?
On an EBIT basis the return on assets of Fresenius Medical Care AG & Co. KGaA is 3.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Fresenius Medical Care AG & Co. KGaA (FME)?
The operating margin of Fresenius Medical Care AG & Co. KGaA is 10.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fresenius Medical Care AG & Co. KGaA (FME)?
Revenue at Fresenius Medical Care AG & Co. KGaA is growing +1.4% versus a year earlier (3y avg +0.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Fresenius Medical Care AG & Co. KGaA (FME)?
Earnings per share at Fresenius Medical Care AG & Co. KGaA are growing +5.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Fresenius Medical Care AG & Co. KGaA (FME) carry?
The net debt of Fresenius Medical Care AG & Co. KGaA is €12.1B (fiscal year 2025, ≈ 6.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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