FMS
Fresenius Medical Care AG
NYSEUSDEQUITY
Healthcare
DELAYED
Neutral
-13/100
Last price
22.42
▼ 0.23 (1.02%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
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Open
—
Prev close
22.65
Day high
22.65
Day low
22.42
Volume
652.47K
Market cap
$11.93B
P/E (TTM)
11.56
52W range
20.02 – 27.64
Trailing performance
Returnvs SPY
1W
+0.67%
-1.3%
1M
-1.06%
-2.2%
3M
-6.35%
-10.9%
6M
-1.45%
-19.6%
YTD
-5.88%
-20.1%
1Y
-16.19%
-32.6%
3Y
+4.09%
-78.2%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
10 more panels on FMS open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
0
Total on file
Fundamentals
Market cap$11.93B
Enterprise value$22.82B
Revenue (TTM)$19.43B
Gross profit$5.12B
EBITDA$2.72B
Net income$937.78M
EPS (TTM)$1.94
Free cash flow$2.02B
Total cash$1.06B
Total debt$10.98B
Book value / share$27.08
Shares outstanding532.22M
Float397.12M
Short % of float—
Dividend yield3.89%
Beta (5Y)0.81
Valuation & profitability ratios
Trailing P/E11.56
Forward P/E7.53
PEG ratio0.74
Price / sales—
Price / book0.83
EV / revenue1.18
EV / EBITDA8.39
Gross margin26.35%
Operating margin10.77%
Profit margin4.83%
Return on equity8.52%
Return on assets3.98%
Debt / equity81.13
Current ratio1.07
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $19.63B | $19.34B | $19.45B | $19.40B | +1.5% |
| Operating revenue | $19.63B | $19.34B | $19.45B | $19.40B | +1.5% |
| Cost of revenue | $14.60B | $14.58B | $14.53B | $14.50B | +0.1% |
| Gross profit | $5.03B | $4.76B | $4.93B | $4.89B | +5.7% |
| Research & development | $157.97M | $183.49M | $231.97M | $228.62M | -13.9% |
| Selling, general & admin | $3.03B | $3.14B | $3.20B | $3.17B | -3.5% |
| Total operating expense | $3.20B | $3.29B | $3.45B | $3.44B | -2.7% |
| Operating income | $1.83B | $1.47B | $1.48B | $1.45B | +24.5% |
| Net interest income | -$314.80M | -$335.47M | -$336.42M | -$292.48M | +6.2% |
| Pre-tax income | $1.51B | $1.06B | $1.03B | $1.22B | +43.1% |
| Tax provision | $320.97M | $316.06M | $300.56M | $324.95M | +1.6% |
| Net income | $978.37M | $537.91M | $499.00M | $673.40M | +81.9% |
| Net income to common | $978.37M | $537.91M | $499.00M | $673.40M | +81.9% |
| Basic EPS | 1.68 | 0.92 | 0.85 | 1.15 | +83.6% |
| Diluted EPS | 1.68 | 0.92 | 0.85 | 1.15 | +83.6% |
| EBIT | $1.90B | $1.46B | $1.46B | $1.58B | +29.6% |
| EBITDA | $3.40B | $3.21B | $3.21B | $3.42B | +6.0% |
| Basic shares | 582.38M | 586.83M | 586.83M | 586.49M | -0.8% |
| Diluted shares | 582.38M | 586.83M | 586.83M | 586.49M | -0.8% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $1.58B | $1.15B | $1.38B | $1.27B | +37.5% |
| Cash & short-term investments | $1.82B | $1.45B | $1.51B | $1.43B | +25.9% |
| Accounts receivable | $3.16B | $3.40B | $3.43B | $3.67B | -6.9% |
| Inventory | $2.14B | $2.07B | $2.18B | $2.30B | +3.5% |
| Total current assets | $7.90B | $7.92B | $8.70B | $8.20B | -0.3% |
| Property, plant & equipment | $6.50B | $7.26B | $7.45B | $8.34B | -10.5% |
| Goodwill & intangibles | $14.83B | $16.54B | $16.01B | $17.31B | -10.4% |
| Total assets | $31.00B | $33.57B | $33.93B | $35.75B | -7.6% |
| Total current liabilities | $6.25B | $5.66B | $6.11B | $6.47B | +10.3% |
| Current debt | $1.61B | $577.38M | $944.60M | $1.34B | +179.4% |
| Long-term debt | $5.69B | $6.26B | $6.96B | $7.17B | -9.1% |
| Total debt | $10.80B | $10.98B | $12.05B | $13.19B | -1.7% |
| Total liabilities | $16.72B | $17.80B | $19.10B | $20.30B | -6.1% |
| Retained earnings | $12.21B | $11.27B | $10.92B | $10.71B | +8.4% |
| Shareholder equity | $13.31B | $14.58B | $13.62B | $13.99B | -8.7% |
| Working capital | $1.65B | $2.26B | $2.59B | $1.74B | -26.9% |
| Net tangible assets | -$1.52B | -$1.96B | -$2.39B | -$3.32B | +22.8% |
| Shares issued | 293.41M | 293.41M | 293.41M | 293.41M | 0.0% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Net income | $1.19B | $740.87M | $732.46M | $894.33M | — | +60.8% |
| Depreciation & amortisation | $1.50B | $1.74B | $1.75B | $1.84B | — | -13.9% |
| Stock-based compensation | — | — | — | — | $0 | — |
| Change in working capital | $138.24M | $444.31M | $561.28M | -$128.07M | — | -68.9% |
| Operating cash flow | $2.68B | $2.39B | $2.63B | $2.17B | — | +12.4% |
| Capital expenditure | -$915.37M | -$699.36M | -$684.60M | -$723.99M | — | -30.9% |
| Investing cash flow | -$722.53M | -$84.94M | -$544.23M | -$734.73M | — | -750.6% |
| Share buybacks | -$585.28M | $0 | $0 | $0 | — | — |
| Dividends paid | -$422.51M | -$349.16M | -$328.62M | -$395.56M | — | -21.0% |
| Financing cash flow | -$1.40B | -$2.57B | -$1.86B | -$1.62B | — | +45.4% |
| Free cash flow | $1.77B | $1.69B | $1.94B | $1.44B | — | +4.7% |
| End cash position | $1.60B | $1.19B | $1.43B | $1.27B | — | +34.9% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $4.86B | $4.61B | $5.07B | $4.88B | $4.79B | +5.4% |
| Operating revenue | $4.86B | $4.61B | $5.07B | $4.88B | $4.79B | +5.4% |
| Cost of revenue | $3.55B | $3.43B | $3.68B | $3.64B | $3.58B | +3.4% |
| Gross profit | $1.31B | $1.18B | $1.39B | $1.24B | $1.21B | +11.1% |
| Research & development | $39.63M | $38.31M | $38.63M | $37.75M | $38.12M | +3.4% |
| Selling, general & admin | $736.01M | $748.94M | $784.62M | $705.44M | $791.98M | -1.7% |
| Total operating expense | $772.72M | $803.94M | $839.39M | $740.50M | $834.58M | -3.9% |
| Operating income | $537.27M | $375.56M | $548.98M | $501.72M | $379.78M | +43.1% |
| Net interest income | -$82.86M | -$78.68M | -$85.39M | -$73.94M | -$74.73M | -5.3% |
| Pre-tax income | $383.00M | $207.52M | $508.46M | $402.57M | $350.55M | +84.6% |
| Tax provision | $89.83M | $42.75M | $106.44M | $75.22M | $78.26M | +110.1% |
| Net income | $218.38M | $117.53M | $327.08M | $274.80M | $225.27M | +85.8% |
| Net income to common | $218.38M | $117.53M | $327.08M | $274.80M | $225.27M | +85.8% |
| Basic EPS | 0.41 | 0.22 | 0.57 | 0.47 | 0.39 | +88.4% |
| Diluted EPS | 0.41 | 0.22 | 0.57 | 0.47 | 0.39 | +88.4% |
| EBIT | $480.55M | $300.82M | $607.48M | $495.66M | $447.13M | +59.7% |
| EBITDA | $843.66M | $763.76M | $981.03M | $852.92M | $822.37M | +10.5% |
| Basic shares | 536.88M | 550.49M | 571.81M | 584.20M | 586.83M | -2.5% |
| Diluted shares | 536.88M | 550.49M | 571.81M | 584.20M | 586.83M | -2.5% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $1.06B | $1.24B | $1.58B | $1.26B | $1.72B | -14.4% |
| Cash & short-term investments | $1.45B | $1.62B | $1.82B | $1.81B | $2.19B | -10.7% |
| Accounts receivable | $3.35B | $3.58B | $3.16B | $3.24B | $3.20B | -6.5% |
| Inventory | $2.33B | $2.30B | $2.14B | $2.09B | $2.00B | +1.3% |
| Total current assets | $7.69B | $8.11B | $7.90B | $7.82B | $8.14B | -5.2% |
| Property, plant & equipment | $6.43B | $6.44B | $6.50B | $6.40B | $6.50B | -0.2% |
| Goodwill & intangibles | $15.25B | $15.10B | $14.83B | $14.84B | $14.87B | +1.0% |
| Total assets | $31.29B | $31.47B | $31.00B | $30.89B | $31.29B | -0.6% |
| Total current liabilities | $7.18B | $6.73B | $6.25B | $5.76B | $5.66B | +6.7% |
| Current debt | $1.74B | $1.80B | $1.61B | $543.25M | $1.01B | -3.0% |
| Long-term debt | $5.82B | $5.74B | $5.69B | $6.32B | $6.33B | +1.4% |
| Total debt | $10.96B | $11.03B | $10.80B | $10.47B | $11.02B | -0.6% |
| Total liabilities | $17.76B | $17.26B | $16.72B | $16.98B | $16.96B | +2.9% |
| Retained earnings | $12.09B | $12.30B | $12.21B | $11.84B | $11.29B | -1.7% |
| Shareholder equity | $12.56B | $13.24B | $13.31B | $12.95B | $13.27B | -5.2% |
| Working capital | $511.74M | $1.38B | $1.65B | $2.06B | $2.48B | -62.9% |
| Net tangible assets | -$2.69B | -$1.86B | -$1.52B | -$1.89B | -$1.60B | -44.6% |
| Shares issued | 266.11M | 293.41M | 293.41M | 293.41M | 293.41M | -9.3% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Net income | $293.17M | $164.76M | $402.02M | $327.34M | $272.30M | +77.9% |
| Depreciation & amortisation | $363.11M | $462.94M | $373.55M | $357.26M | $375.24M | -21.6% |
| Change in working capital | $297.16M | -$358.04M | $152.90M | $88.50M | $281.86M | +183.0% |
| Operating cash flow | $860.30M | $226.89M | $1.00B | $741.56M | $774.93M | +279.2% |
| Capital expenditure | -$240.40M | -$190.07M | -$423.01M | -$192.21M | -$154.38M | -26.5% |
| Investing cash flow | -$270.76M | -$169.48M | -$418.23M | -$54.01M | -$142.05M | -59.8% |
| Share buybacks | -$144.64M | -$347.33M | -$434.17M | -$151.12M | $0 | +58.4% |
| Dividends paid | — | — | $0 | $0 | — | — |
| Financing cash flow | -$769.53M | — | — | — | — | — |
| Free cash flow | $619.90M | $36.82M | $578.67M | $549.35M | $620.55M | +1,583.6% |
| End cash position | $1.06B | $1.24B | $1.60B | $1.26B | $1.72B | -14.4% |
Options analytics
Put / call volume
45.83
Put-heavy session
Put / call open interest
—
Positioning, not flow
Max pain
20.00
-10.8% from spot
ATM implied vol
0.8%
Nearest strike to spot
Skew (10% OTM)
+237.8%
Puts bid over calls
Call volume
6
Contracts, this expiry
Put volume
275
Contracts, this expiry
Heaviest call OI
12.50
0 contracts
Heaviest put OI
20.00
5 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | 0.50 | 0.57 | +13.1% |
| Mar 2026 | 0.50 | 0.46 | -8.6% |
| Dec 2025 | 0.55 | 0.72 | +30.0% |
| Sep 2025 | 0.50 | 0.55 | +9.1% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 0.50 | 2 | $4.93B | +0.8% |
| Next quarter | 0.55 | 2 | $5.14B | +1.4% |
| Current year | 2.07 | 4 | $19.48B | -0.7% |
| Next year | 2.65 | 5 | $20.11B | +3.2% |
Analyst targets & ownership
Mean target$23.42
High target$36.97
Low target$16.81
Implied upside4.47%
Analyst count7
ConsensusHOLD
Strong buy / Buy1 / 0
Hold3
Sell / Strong sell1 / 2
Held by insiders0.00%
Held by institutions9.86%
Institutions holding272
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
22.46
-0.19% from price
SMA 20
22.47
-0.20% from price
SMA 50
23.23
-3.48% from price
SMA 100
23.11
-2.97% from price
SMA 200
23.02
-2.59% from price
EMA 12
22.46
-0.20% from price
EMA 26
22.64
-0.99% from price
EMA 50
22.91
-2.13% from price
RSI (14)
45.9
Neutral
MACD (12,26,9)
-0.18
Hist 0.05
ATR (14)
0.39
1.74% of price
Realised vol 30D
19.8%
Annualised
Bollinger upper
23.01
20, 2σ
Bollinger lower
21.92
20, 2σ
50 / 200 cross
Golden
23.23 vs 23.02
Trend bias
Below 200
-2.59%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
0.22
Less volatile than market
Correlation to SPY
0.10
Largely independent
Realised vol 30D
19.8%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-26.3%
Peak to trough
Max drawdown 5Y
-64.5%
Peak to trough
ATR 14
0.39
1.74% of price
Beta (reported)
0.81
5Y monthly, from filing
Short interest
Shares short
2.75M
Prior 2.77M
Change vs prior
-0.6%
Shorts covering
% of float
—
—
% of shares out
0.52%
Against total outstanding
Days to cover
4.5
Liquid
Float
397.12M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Aug 6, 26 | Bernstein | MAINTAINED | Market Perform | Market Perform |
| Sep 2, 25 | UBS | DOWNGRADE | Neutral | Sell |
| May 12, 25 | Truist Securities | MAINTAINED | Hold | Hold |
| Jan 6, 25 | Truist Securities | MAINTAINED | Hold | Hold |
| Oct 7, 24 | Truist Securities | MAINTAINED | Hold | Hold |
| Jul 31, 24 | Truist Securities | MAINTAINED | Hold | Hold |
| May 15, 24 | Truist Securities | MAINTAINED | Hold | Hold |
| Nov 24, 23 | HSBC | UPGRADE | Reduce | Hold |
| Oct 11, 23 | Truist Securities | MAINTAINED | Hold | Hold |
| Jul 13, 23 | Truist Securities | MAINTAINED | Hold | Hold |
| May 10, 23 | Truist Securities | MAINTAINED | Hold | Hold |
| Apr 13, 23 | Truist Securities | MAINTAINED | — | Hold |
Dividends & splits
Forward rate$0.87 / yr
Forward yield3.89%
5-year avg yield3.15%
Payout ratio45.01%
Ex-dividend dateMay 22, 2026
Next pay dateJun 8, 2026
Last split2:1
Split dateDec 4, 2012
SEC filings
Corporate Changes & Voting Matters
6-K · 2026-09-25
Corporate Changes & Voting Matters
6-K · 2026-08-27
Corporate Changes & Voting Matters
6-K · 2026-08-04
Corporate Changes & Voting Matters
6-K · 2026-08-03
Corporate Changes & Voting Matters
6-K · 2026-07-29
Annual report of employee stock purchase
11-K · 2026-06-29
Specialized Disclosure Report filed pursuant to Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to the use of conflict minerals (Rule 13p-1)
SD · 2026-05-28
Corporate Changes & Voting Matters
6-K · 2026-05-26
Headlines
European Equities Traded in the US as American Depositary Receipts Lower in Tuesday Trading
MT Newswires · 8d ago
Fresenius Medical Care Reshapes China Portfolio for Long-Term Growth
Zacks · 8d ago
Berenberg Downgrades Fresenius Medical Care to Hold From Buy, Cuts Price Target to $24 From $34.50
MT Newswires · 8d ago
Fresenius Medical Care Plans to Exit China Peritoneal Dialysis Business
MT Newswires · 12d ago
Fresenius Medical Care Refines China Commercial Strategy with a Focus on Long-Term Growth and Market Leadership
PR Newswire · 12d ago
FDA Slams Fresenius Over Leaking Dialysis Bags, Warns of Potentially Life-Threatening Risk
Benzinga · 29d ago
Can Fresenius Medical's 5008X Rollout Drive the Next Growth Phase?
Zacks · 34d ago
Reasons to Retain Fresenius Medical Stock in Your Portfolio for Now
Zacks · 34d ago
PRIVATE STRATEGY · BY QUALIFICATION
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