FRESENIUS MEDICAL CARE-ADR (FMS) Fundamental Analysis & Valuation

NYSE:FMS • US3580291066

22.9 USD
-0.06 (-0.26%)
Last: Mar 11, 2026, 01:29 PM
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This FMS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to FMS. FMS was compared to 101 industry peers in the Health Care Providers & Services industry. There are concerns on the financial health of FMS while its profitability can be described as average. A decent growth rate in combination with a cheap valuation! Better keep an eye on FMS.


Dividend Valuation Growth Profitability Health

5

1. FMS Profitability Analysis

1.1 Basic Checks

  • FMS had positive earnings in the past year.
  • FMS had a positive operating cash flow in the past year.
  • Each year in the past 5 years FMS has been profitable.
  • Each year in the past 5 years FMS had a positive operating cash flow.
FMS Yearly Net Income VS EBIT VS OCF VS FCFFMS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

1.2 Ratios

  • FMS's Return On Assets of 3.16% is fine compared to the rest of the industry. FMS outperforms 66.34% of its industry peers.
  • FMS has a better Return On Equity (7.35%) than 64.36% of its industry peers.
  • With a Return On Invested Capital value of 5.30%, FMS perfoms like the industry average, outperforming 58.42% of the companies in the same industry.
  • FMS had an Average Return On Invested Capital over the past 3 years of 4.02%. This is below the industry average of 8.98%.
  • The 3 year average ROIC (4.02%) for FMS is below the current ROIC(5.30%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 3.16%
ROE 7.35%
ROIC 5.3%
ROA(3y)2.08%
ROA(5y)2.19%
ROE(3y)4.9%
ROE(5y)5.43%
ROIC(3y)4.02%
ROIC(5y)3.98%
FMS Yearly ROA, ROE, ROICFMS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • The Profit Margin of FMS (4.98%) is better than 79.21% of its industry peers.
  • FMS's Profit Margin has declined in the last couple of years.
  • FMS has a better Operating Margin (9.00%) than 77.23% of its industry peers.
  • FMS's Operating Margin has declined in the last couple of years.
  • FMS has a Gross Margin (25.62%) which is in line with its industry peers.
  • In the last couple of years the Gross Margin of FMS has declined.
Industry RankSector Rank
OM 9%
PM (TTM) 4.98%
GM 25.62%
OM growth 3Y10.69%
OM growth 5Y-6.44%
PM growth 3Y12.82%
PM growth 5Y-5.23%
GM growth 3Y0.52%
GM growth 5Y-3.74%
FMS Yearly Profit, Operating, Gross MarginsFMS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. FMS Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so FMS is still creating some value.
  • FMS has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, FMS has less shares outstanding
  • FMS has a worse debt/assets ratio than last year.
FMS Yearly Shares OutstandingFMS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M
FMS Yearly Total Debt VS Total AssetsFMS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B

2.2 Solvency

  • An Altman-Z score of 1.83 indicates that FMS is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • FMS has a Altman-Z score (1.83) which is comparable to the rest of the industry.
  • FMS has a debt to FCF ratio of 6.19. This is a slightly negative value and a sign of low solvency as FMS would need 6.19 years to pay back of all of its debts.
  • With a Debt to FCF ratio value of 6.19, FMS perfoms like the industry average, outperforming 55.45% of the companies in the same industry.
  • A Debt/Equity ratio of 0.65 indicates that FMS is somewhat dependend on debt financing.
  • FMS has a Debt to Equity ratio (0.65) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.65
Debt/FCF 6.19
Altman-Z 1.83
ROIC/WACC1.02
WACC5.22%
FMS Yearly LT Debt VS Equity VS FCFFMS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B

2.3 Liquidity

  • FMS has a Current Ratio of 1.26. This is a normal value and indicates that FMS is financially healthy and should not expect problems in meeting its short term obligations.
  • FMS has a Current ratio (1.26) which is comparable to the rest of the industry.
  • A Quick Ratio of 0.92 indicates that FMS may have some problems paying its short term obligations.
  • The Quick ratio of FMS (0.92) is worse than 70.30% of its industry peers.
Industry RankSector Rank
Current Ratio 1.26
Quick Ratio 0.92
FMS Yearly Current Assets VS Current LiabilitesFMS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. FMS Growth Analysis

3.1 Past

  • FMS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 32.00%, which is quite impressive.
  • FMS shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -1.51% yearly.
  • Looking at the last year, FMS shows a small growth in Revenue. The Revenue has grown by 1.51% in the last year.
  • Measured over the past years, FMS shows a small growth in Revenue. The Revenue has been growing by 1.91% on average per year.
EPS 1Y (TTM)32%
EPS 3Y11.44%
EPS 5Y-1.51%
EPS Q2Q%58.24%
Revenue 1Y (TTM)1.51%
Revenue growth 3Y0.39%
Revenue growth 5Y1.91%
Sales Q2Q%-0.29%

3.2 Future

  • FMS is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 9.03% yearly.
  • Based on estimates for the next years, FMS will show a small growth in Revenue. The Revenue will grow by 3.69% on average per year.
EPS Next Y-6.53%
EPS Next 2Y2.07%
EPS Next 3Y6.69%
EPS Next 5Y9.03%
Revenue Next Year0.74%
Revenue Next 2Y2.42%
Revenue Next 3Y2.64%
Revenue Next 5Y3.69%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
FMS Yearly Revenue VS EstimatesFMS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 5B 10B 15B 20B 25B
FMS Yearly EPS VS EstimatesFMS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 1 2 3

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7

4. FMS Valuation Analysis

4.1 Price/Earnings Ratio

  • FMS is valuated reasonably with a Price/Earnings ratio of 9.42.
  • FMS's Price/Earnings ratio is rather cheap when compared to the industry. FMS is cheaper than 93.07% of the companies in the same industry.
  • FMS is valuated cheaply when we compare the Price/Earnings ratio to 26.25, which is the current average of the S&P500 Index.
  • FMS is valuated reasonably with a Price/Forward Earnings ratio of 10.07.
  • 90.10% of the companies in the same industry are more expensive than FMS, based on the Price/Forward Earnings ratio.
  • FMS's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 24.39.
Industry RankSector Rank
PE 9.42
Fwd PE 10.07
FMS Price Earnings VS Forward Price EarningsFMS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, FMS is valued cheaper than 91.09% of the companies in the same industry.
  • FMS's Price/Free Cash Flow ratio is rather cheap when compared to the industry. FMS is cheaper than 91.09% of the companies in the same industry.
Industry RankSector Rank
P/FCF 6.62
EV/EBITDA 6.08
FMS Per share dataFMS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y2.07%
EPS Next 3Y6.69%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. FMS Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 3.63%, FMS has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 0.49, FMS pays a better dividend. On top of this FMS pays more dividend than 98.02% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.82, FMS pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.63%

5.2 History

  • The dividend of FMS has a limited annual growth rate of 4.43%.
  • FMS has been paying a dividend for at least 10 years, so it has a reliable track record.
  • The dividend of FMS decreased in the last 3 years.
Dividend Growth(5Y)4.43%
Div Incr Years2
Div Non Decr Years2
FMS Yearly Dividends per shareFMS Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2

5.3 Sustainability

  • FMS pays out 43.19% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • FMS's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP43.19%
EPS Next 2Y2.07%
EPS Next 3Y6.69%
FMS Yearly Income VS Free CF VS DividendFMS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B
FMS Dividend Payout.FMS Dividend Payout, showing the Payout Ratio.FMS Dividend Payout.PayoutRetained Earnings

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FMS Fundamentals: All Metrics, Ratios and Statistics

FRESENIUS MEDICAL CARE-ADR

NYSE:FMS (3/11/2026, 1:29:44 PM)

22.9

-0.06 (-0.26%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Providers & Services
Earnings (Last)02-24
Earnings (Next)05-05
Inst Owners44.27%
Inst Owner Change6.19%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap13.44B
Revenue(TTM)19.63B
Net Income(TTM)978.37M
Analysts65.93
Price Target27.2 (18.78%)
Short Float %0.45%
Short Ratio3.12
Dividend
Industry RankSector Rank
Dividend Yield 3.63%
Yearly Dividend0.83
Dividend Growth(5Y)4.43%
DP43.19%
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)24.86%
Min EPS beat(2)14.16%
Max EPS beat(2)35.55%
EPS beat(4)4
Avg EPS beat(4)22.94%
Min EPS beat(4)14.16%
Max EPS beat(4)35.55%
EPS beat(8)8
Avg EPS beat(8)21.57%
EPS beat(12)10
Avg EPS beat(12)16.05%
EPS beat(16)12
Avg EPS beat(16)12.94%
Revenue beat(2)1
Avg Revenue beat(2)0.93%
Min Revenue beat(2)-1.71%
Max Revenue beat(2)3.58%
Revenue beat(4)2
Avg Revenue beat(4)0.32%
Min Revenue beat(4)-3.33%
Max Revenue beat(4)3.58%
Revenue beat(8)4
Avg Revenue beat(8)-0.14%
Revenue beat(12)5
Avg Revenue beat(12)-0.25%
Revenue beat(16)7
Avg Revenue beat(16)-0.28%
PT rev (1m)0.14%
PT rev (3m)-2.47%
EPS NQ rev (1m)9.36%
EPS NQ rev (3m)64.04%
EPS NY rev (1m)-5.37%
EPS NY rev (3m)-5.24%
Revenue NQ rev (1m)-4.78%
Revenue NQ rev (3m)-4.07%
Revenue NY rev (1m)-2.09%
Revenue NY rev (3m)-2.06%
Valuation
Industry RankSector Rank
PE 9.42
Fwd PE 10.07
P/S 0.59
P/FCF 6.62
P/OCF 4.31
P/B 0.87
P/tB N/A
EV/EBITDA 6.08
EPS(TTM)2.43
EY10.61%
EPS(NY)2.27
Fwd EY9.93%
FCF(TTM)3.46
FCFY15.1%
OCF(TTM)5.32
OCFY23.22%
SpS38.94
BVpS26.4
TBVpS-3.01
PEG (NY)N/A
PEG (5Y)N/A
Graham Number37.99
Profitability
Industry RankSector Rank
ROA 3.16%
ROE 7.35%
ROCE 7.13%
ROIC 5.3%
ROICexc 5.78%
ROICexgc 16.63%
OM 9%
PM (TTM) 4.98%
GM 25.62%
FCFM 8.88%
ROA(3y)2.08%
ROA(5y)2.19%
ROE(3y)4.9%
ROE(5y)5.43%
ROIC(3y)4.02%
ROIC(5y)3.98%
ROICexc(3y)4.29%
ROICexc(5y)4.23%
ROICexgc(3y)11.55%
ROICexgc(5y)11.07%
ROCE(3y)5.42%
ROCE(5y)5.44%
ROICexgc growth 3Y23.76%
ROICexgc growth 5Y-0.49%
ROICexc growth 3Y19.48%
ROICexc growth 5Y-3.49%
OM growth 3Y10.69%
OM growth 5Y-6.44%
PM growth 3Y12.82%
PM growth 5Y-5.23%
GM growth 3Y0.52%
GM growth 5Y-3.74%
F-Score8
Asset Turnover0.63
Health
Industry RankSector Rank
Debt/Equity 0.65
Debt/FCF 6.19
Debt/EBITDA 2.64
Cap/Depr 62.47%
Cap/Sales 4.78%
Interest Coverage 4.9
Cash Conversion 82.09%
Profit Quality 178.22%
Current Ratio 1.26
Quick Ratio 0.92
Altman-Z 1.83
F-Score8
WACC5.22%
ROIC/WACC1.02
Cap/Depr(3y)48.17%
Cap/Depr(5y)48.21%
Cap/Sales(3y)4.06%
Cap/Sales(5y)4.23%
Profit Quality(3y)290.62%
Profit Quality(5y)248.93%
High Growth Momentum
Growth
EPS 1Y (TTM)32%
EPS 3Y11.44%
EPS 5Y-1.51%
EPS Q2Q%58.24%
EPS Next Y-6.53%
EPS Next 2Y2.07%
EPS Next 3Y6.69%
EPS Next 5Y9.03%
Revenue 1Y (TTM)1.51%
Revenue growth 3Y0.39%
Revenue growth 5Y1.91%
Sales Q2Q%-0.29%
Revenue Next Year0.74%
Revenue Next 2Y2.42%
Revenue Next 3Y2.64%
Revenue Next 5Y3.69%
EBIT growth 1Y39.46%
EBIT growth 3Y11.12%
EBIT growth 5Y-4.66%
EBIT Next Year72.47%
EBIT Next 3Y24.27%
EBIT Next 5Y15.34%
FCF growth 1Y4.8%
FCF growth 3Y7.67%
FCF growth 5Y-11.14%
OCF growth 1Y12.36%
OCF growth 3Y7.35%
OCF growth 5Y-8.73%

FRESENIUS MEDICAL CARE-ADR / FMS FAQ

What is the fundamental rating for FMS stock?

ChartMill assigns a fundamental rating of 5 / 10 to FMS.


Can you provide the valuation status for FRESENIUS MEDICAL CARE-ADR?

ChartMill assigns a valuation rating of 7 / 10 to FRESENIUS MEDICAL CARE-ADR (FMS). This can be considered as Undervalued.


What is the profitability of FMS stock?

FRESENIUS MEDICAL CARE-ADR (FMS) has a profitability rating of 5 / 10.


What is the expected EPS growth for FRESENIUS MEDICAL CARE-ADR (FMS) stock?

The Earnings per Share (EPS) of FRESENIUS MEDICAL CARE-ADR (FMS) is expected to decline by -6.53% in the next year.


Is the dividend of FRESENIUS MEDICAL CARE-ADR sustainable?

The dividend rating of FRESENIUS MEDICAL CARE-ADR (FMS) is 6 / 10 and the dividend payout ratio is 43.19%.