Fresenius SE & Co KGaA (FSNUY) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Fresenius SE & Co KGaA $9.01, price $12.43, upside -27.5%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range $4.45 – $21.83 · fair‑value band $4.57 – $13.36 · the $12.43 price screens above the $9.01 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
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Fresenius SE & Co. KGaA, a health care company, provides products and services for chronically ill patients in North America, Europe, the Asia-Pacific, Latin America, and Africa. It operates through Fresenius Kabi and Fresenius Helios segments.
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Fresenius SE & Co. KGaA, a health care company, provides products and services for chronically ill patients in North America, Europe, the Asia-Pacific, Latin America, and Africa. It operates through Fresenius Kabi and Fresenius Helios segments. The Fresenius Kabi segment offers products for therapy and care of critically and chronically ill patients, including biopharmaceuticals, clinical nutrition, MedTech products, intravenously administered generic drugs, and IV fluids. It also provides biosimilar drugs; enteral and parenteral nutrition products; and medical technologies that include disposables, infusions pumps, apheresis machines, cell therapy devices, and other products. The Fresenius Helios segment operates hospitals, medical care centers, occupational health centers, prevention centers, and outpatient health centers, as well as provision of medical diagnostics. The company has a strategic collaboration with SAP SE and Avelios Medical GmbH for the development of a cloud-native, modular hospital information system that enables digitalization of clinical and administrative processes with AI integration. The company was formerly known as Fresenius SE and changed its name to Fresenius SE & Co. KGaA in January 2011. Fresenius SE & Co. KGaA was founded in 1912 and is based in Bad Homburg vor der Höhe, Germany.
Stock analysis
Fresenius SE & Co KGaA ADR (FSNUY) currently trades at $12.43, while our model-based Fair Value estimate is $9.01, 27.5% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $10.54 per share, and 4 of the 25 models we run sit above the $12.43 price.
Bear case: the Dividend Discount group reads lowest at $4.34, and 21 of the 25 models stay below the price. Evidence for this calculation is high.
Scenario range: $4.57 (bear) to $13.36 (bull), the price of $12.43 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 49/100 (below-average 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 SE & Co KGaA ADR reported revenue of €22.0B in FY2025 versus €37.5B in FY2021, a compound −12.5%/yr. Reported net income was €1.2B in FY2025, compounding −9.6%/yr from FY2021.
Key figures
Market cap $25.4B · P/E ratio 15.9 · P/S ratio 0.88 · EPS (TTM) $0.7800 · Dividend yield 2.7% · Net margin 5.5% · Return on equity 7.8% · Return on assets (EBIT) 4.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 43% below its 52-week high and 19% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 21% fair-value upside, at −27%, FSNUY screens richer than that median.
Fair Value models
Bear $4.57Fair Value $9.01Bull $13.36
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.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.Evidence ⓘEvidence = 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.
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
+0.6%
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.
−18.7%
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.
−9.5%
Start year 2020 (pandemic). Over 10 years: −2.3% a year
Revenue growth 23 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.
+4.8%
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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.
−27.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−30.2%
Dividend (yield on the price)2.7%
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.−30.2% vs −14.1%, 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.12% → 10%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 13.7%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more 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).
+36.7%
Yearly growth needed for the next five years to justify today's price.
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.
+5.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +33.8% a year for the price and +2.9% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (89 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
Compare Fresenius SE & Co KGaA ADR with another stock
Price, fair value, quality and upside side by side.
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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 · 246 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−21.0% · Below median
Profitability
Return on equity (TTM)7.8% · Above median
Return on assets3.3% · Below median
Net margin (TTM)6.4% · Above median
Operating margin (TTM)10.2% · Above median
Growth and dividend
Revenue growth2.0% · Below median
Dividend yield (TTM)2.7% · Above median
Balance sheet
Debt / equity0.48× · Above median
Valuation Multiplesvs Medical Care Facilities median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Fresenius SE & Co KGaA ADR Fair Value". https://www.fairvalue-calculator.com/stock/FSNUY
Frequently asked questions
Is Fresenius SE & Co KGaA (FSNUY) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of $9.01 versus a price of $12.43, about −27% upside (overvalued).
What is the fair value of FSNUY?
Our model-based fair value for Fresenius SE & Co KGaA ADR is $9.01 (as of Oct 3, 2026), built from audited fundamentals. The current price: $12.43.
What is the quality score of FSNUY?
Fresenius SE & Co KGaA ADR has a Quality Score of 49/100. 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 SE & Co KGaA (FSNUY)?
Our model-based price target is the fair value of $9.01 (as of Oct 3, 2026) from 25 valuation models. Cautious scenario $4.57, optimistic scenario $13.36. It is a calculation from audited fundamentals, not an analyst target.
What is the Fresenius SE & Co KGaA ADR stock forecast for 2026?
Our models put fair value at $9.01, about −27% upside versus a price of $12.43 (overvalued). Cautious scenario $4.57, optimistic scenario $13.36. The calculation is refreshed regularly with new filings.
What is the revenue of Fresenius SE & Co KGaA (FSNUY)?
Fresenius SE & Co KGaA ADR reported trailing-twelve-month revenue of about €23.0B (latest available figure, as of Oct 3, 2026).
Does Fresenius SE & Co KGaA ADR pay a dividend?
Fresenius SE & Co KGaA ADR currently shows a dividend yield of about 2.70% relative to its recent price (as of Oct 3, 2026).
What growth is priced into Fresenius SE & Co KGaA (FSNUY)?
For today's price to be fair in a discounted-cash-flow model, Fresenius SE & Co KGaA ADR would have to grow free cash flow by +36.7 % per year for five years (discount rate 8.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -9.5 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of FSNUY use?
Our models discount Fresenius SE & Co KGaA ADR at 8.8 %: a base by market capitalisation (large), damped by beta 0.83, country premium for USA. 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 SE & Co KGaA ADR that is +36.7 % per year a year over ten years, using the same discount rate (8.8 %) and the same formula as our fair value.
How much growth has Fresenius SE & Co KGaA (FSNUY) delivered so far?
Over the past 5 years revenue at Fresenius SE & Co KGaA ADR grew -9.5 % a year. The price currently implies +36.7 % 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 SE & Co KGaA (FSNUY) growing?
The median revenue growth in the sector is +5.2 % a year. That is the yardstick for the growth priced into Fresenius SE & Co KGaA ADR (+36.7 % 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 SE & Co KGaA (FSNUY)?
The free-cash-flow yield on the price is 1.16 %: that much free cash flow Fresenius SE & Co KGaA ADR produces per unit of market value. When it exceeds the discount rate of our models (8.8 %), 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 SE & Co KGaA (FSNUY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fresenius SE & Co KGaA ADR it is $9.01 per share (as of Oct 3, 2026), against a price of $12.43. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Fresenius SE & Co KGaA ADR stock overvalued or undervalued in 2026?
As of Oct 3, 2026, FSNUY trades above its calculated fair value: price $12.43, fair value $9.01, a gap of about −27% (overvalued). 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 FSNUY?
No. The price is what the market pays today ($12.43); the fair value is what the company's own numbers justify ($9.01). For Fresenius SE & Co KGaA ADR the two are $3.42 per share apart. That gap is exactly why we show both numbers side by side.
How much is Fresenius SE & Co KGaA ADR worth?
The market values Fresenius SE & Co KGaA ADR at about $25.4B (market capitalisation, as of Oct 3, 2026). Per share that is $12.43; our models calculate a fair value of $9.01 per share.
What do the bullish and bearish scenarios say about FSNUY?
Our models span a range for Fresenius SE & Co KGaA ADR: cautious scenario $4.57, base $9.01, optimistic $13.36 per share (as of Oct 3, 2026, price $12.43). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FSNUY?
Fresenius SE & Co KGaA ADR trades at a price-to-earnings ratio of 15.9 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $9.01 is built from several models across several years. Other multiples: PEG 0.7, P/B 1.2, P/S 1.0, EV/EBITDA 10.0.
What is the PEG ratio of FSNUY?
The PEG ratio of Fresenius SE & Co KGaA ADR is 0.71 (P/E divided by earnings growth, as of Oct 3, 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 SE & Co KGaA (FSNUY)?
Balance-sheet figures for Fresenius SE & Co KGaA ADR (as of Oct 3, 2026): return on equity 7.8%, debt of 0.48 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is FSNUY from its 52-week high?
Fresenius SE & Co KGaA ADR trades at $12.43, about 43% below its 52-week high of $21.83 and 19% above the low of $10.40 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $9.01 is for.
Which stocks are comparable to Fresenius SE & Co KGaA ADR?
From the same area (Healthcare) we also value HCA Healthcare, Inc, Dr. Sulaiman Al Habib Medical Services Group, Tenet Healthcare Corporation, IHH Healthcare Berhad, an investment holding company,, 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 SE & Co KGaA ADR stock attractive at the current price?
The data as of Oct 3, 2026: price $12.43, calculated fair value $9.01 (−27%), Quality Score 49/100, from 25 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 FSNUY calculated?
We run Fresenius SE & Co KGaA ADR through 25 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 $9.01, 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 14.5 % above its aggregate fair value. Fresenius SE & Co KGaA ADR 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 SE & Co KGaA (FSNUY)?
The closing price on Oct 2, 2026 was $12.43. Our model-based fair value is $9.01, about −27% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fresenius SE & Co KGaA ADR right now?
The model range is unusually wide ($4.57 to $13.36). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Fresenius SE & Co KGaA (FSNUY) come from?
Earnings per share at Fresenius SE & Co KGaA ADR grew −17.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share −15.6 %, EBIT margin −4.8 %, tax rate +0.2 %, residual (interest, one-offs) +1.9 %. 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 SE & Co KGaA ADR
How large is the market capitalisation of Fresenius SE & Co KGaA (FSNUY)?
The market capitalisation of Fresenius SE & Co KGaA ADR is $25.4B. 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 SE & Co KGaA (FSNUY)?
The price-to-sales ratio of Fresenius SE & Co KGaA ADR is 0.88 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Fresenius SE & Co KGaA (FSNUY)?
Earnings per share at Fresenius SE & Co KGaA ADR are $0.7800 (price ÷ EPS = P/E 15.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Fresenius SE & Co KGaA (FSNUY)?
The dividend yield of Fresenius SE & Co KGaA ADR is 2.7% (payout 43.0%). 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 SE & Co KGaA (FSNUY)?
The net margin of Fresenius SE & Co KGaA ADR is 5.5% (fiscal year 2025). 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 SE & Co KGaA (FSNUY)?
The return on equity (ROE) of Fresenius SE & Co KGaA ADR is 7.8% (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 SE & Co KGaA (FSNUY)?
On an EBIT basis the return on assets of Fresenius SE & Co KGaA ADR is 4.4% (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 SE & Co KGaA (FSNUY)?
The operating margin of Fresenius SE & Co KGaA ADR is 10.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fresenius SE & Co KGaA (FSNUY)?
Revenue at Fresenius SE & Co KGaA ADR is growing +2.0% versus a year earlier (3y avg −18.7%). 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 SE & Co KGaA (FSNUY)?
Earnings per share at Fresenius SE & Co KGaA ADR are growing +90.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Fresenius SE & Co KGaA (FSNUY) carry?
The net debt of Fresenius SE & Co KGaA ADR is €10.3B (fiscal year 2025, ≈ 9.0 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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Broad data
Oct 3, 2026