Zacks Investment Research·Jun 23, 2026
DVA vs. FMS: Which Dialysis Leader Is Better Positioned Now?DaVita and Fresenius Medical Care are taking different paths in kidney care, but which stock offers stronger upside now? Let's dive in.
Fresenius Medical Care AG & Co. KGaA(FMS)Earnings, Financials & Key Ratios
FMS•NYSE
$24.20
12.6× P/E·Price updated Jul 7, 2026
AboutFresenius Medical Care AG & Co. KGaA provides dialysis care and related dialysis care services in Germany, North America, and internationally. It 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 also develops, manufactures, and distributes dialysis products, including polysulfone dialyzers, hemodialysis machines, peritoneal dialysis cyclers, peritoneal dialysis solutions, hemodialysis concentrates, solutions and granulates, bloodlines, renal pharmaceuticals, and systems for water treatment; and non-dialysis products, such as acute cardiopulmonary and apheresis products. In addition, it develops, acquires, and in-licenses renal pharmaceuticals; offers renal medications and supplies to patients at homes or to dialysis clinics; and provides vascular, cardiovascular, endovascular specialty, vascular care ambulatory surgery center, and physician nephrology and cardiology services. The company sells its products to dialysis clinics, hospitals, and specialized treatment clinics directly, as well as through local sales forces, independent distributors, dealers, and sales agents. As of February 23, 2022, it operated 4,171 outpatient dialysis clinics in approximately 150 countries. Fresenius Medical Care AG & Co. KGaA was incorporated in 1996 and is headquartered in Bad Homburg, Germany.Show more
- Revenue$19.63B+1.5%
- EBITDA$3.27B+4.4%
- Net Income$978M+81.8%
- EPS (Diluted)1.68+82.6%
- Gross Margin25.62%+4.2%
- EBITDA Margin16.67%+2.8%
- Operating Margin9.31%+29.3%
- Net Margin4.98%+79.1%
- ROE6.51%+85.1%
FMS Price & Volume
Fresenius Medical Care AG & Co. KGaA (FMS) stock price & volume — 10-year historical chart
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Stagnant Revenue Growth Pressures Operational Margin Stability
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Decelerating
Profitability:Strained
Financial:Adequate
Cash Flow:Mixed
Primary Risk:Regulatory reimbursement and labor
Key Thesis Takeaways
- Fresenius Medical Care faces a challenging outlook characterized by stagnant volume growth and persistent margin compression, as evidenced by a 5.5% revenue contraction in 2026Q1.
- The company's reliance on government reimbursement rates limits pricing power, while significant goodwill of $13.8 billion poses long-term valuation risks.
- Investors should monitor the sustainability of shareholder returns, given that $347.3 million in share repurchases in 2026Q1 significantly exceeded the $36.8 million in free cash flow generated during the same period.
Verdict Logic
the company's reliance on balance sheet liquidity to fund $347.3 million in buybacks despite generating only $36.8 million in free cash flow suggests unsustainable capital allocation practices.
FMS Growth Metrics
Fresenius Medical Care AG & Co. KGaA (FMS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years2.52%
5 Years1.91%
3 Years0.39%
TTM-0.69%
Profit CAGR
10 Years0.38%
5 Years-3.43%
3 Years13.25%
TTM53.2%
EPS CAGR
10 Years0.68%
5 Years5.1%
3 Years43.38%
TTM146.27%
Return on Capital
10 Years8.85%
5 Years5.82%
3 Years5.58%
Last Year6.94%
FMS Recent Earnings
Fresenius Medical Care AG & Co. KGaA (FMS) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
May 5, 2026Metric
Actual
Est
EPS
$0.53-10.2%
$0.59
Rev
$5.4B-0.1%
$5.4B
Q1 2026
Feb 24, 2026Metric
Actual
Est
EPS
$0.83+28.3%
$0.65
Rev
$6.0B+5.3%
$5.7B
Q4 2025
Nov 4, 2025Metric
Actual
Est
EPS
$0.64+8.5%
$0.59
Rev
$5.7B+19.2%
$4.8B
Q3 2025
Aug 5, 2025Metric
Actual
Est
EPS
$0.52+4.0%
$0.50
Rev
$5.6B+13.4%
$5.0B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 5, 2026 | $0.53vs $0.59-10.2% | $5.4Bvs $5.4B-0.1% |
| Q1 2026 | Feb 24, 2026 | $0.83vs $0.65+28.3% | $6.0Bvs $5.7B+5.3% |
| Q4 2025 | Nov 4, 2025 | $0.64vs $0.59+8.5% | $5.7Bvs $4.8B+19.2% |
| Q3 2025 | Aug 5, 2025 | $0.52vs $0.50+4.0% | $5.6Bvs $5.0B+13.4% |
Based on last 12 quarters of dataView full earnings history →
Latest FMS News
Recent stock market news and headlines for Fresenius Medical Care AG & Co. KGaA (FMS)
Newsfile Corp·Jun 22, 2026
Focus Graphite Announces SEDAR+ Filing of the NI 43-101 Technical Report with the Updated Mineral Resource for the Lac Tetepisca ProjectOne of the Largest Identified Graphite Deposits Globally with 120.2 Mt Indicated at 10.27% Cg and 24.1 Mt Inferred at 9.88% Cg, Containing 14.7 Mt of In-Situ Graphite Ottawa, Ontario--(Newsfile Corp. - June 22, 2026) - Focus Graphite Inc. (TSXV: FMS) (OTCQB: FCSMF) (FSE: FKC0) ("Focus" or the "Company"), a Canadian developer of high-grade flake graphite deposits and advanced graphite materials for battery, defence, and industrial applications, is pleased to announce that it has filed the report on SEDAR+ for the upgraded mineral resource estimate ("MRE") on its 100%-owned Lac Tetepisca Project (the "Project") in Quebec. The Project lies within the Nitassinan (ancestral land) of the Pessamit Innu First Nation of Betsiamites, Quebec.
Peers Comparison
Key metrics vs top competitors for Fresenius Medical Care AG & Co. KGaA (FMS)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $24.20 | $13.32B | 12.61 | 1.51% | 4.98% | 6.51% | 3.29% | |
| $234.31 | $15.04B | 24.64 | 6.46% | 5.65% | 59.11% | — | |
| $29.30 | $264.9M | 14.95 | 27.11% | 18.05% | 11.51% | — | |
| $74.90 | $1.46B | -7.70 | -43.89% | -284.18% | -87% | — | |
| $22.86 | $11.8B | -13.06 | 5.72% | -9.7% | -16.5% | — | |
| $4.58 | $2.55M | -2.87 | — | — | — | — |
Compare FMS vs Peers
Fresenius Medical Care AG & Co. KGaA (FMS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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FMS Frequently Asked Questions
Fresenius Medical Care AG & Co. KGaA (FMS) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Fresenius Medical Care AG & Co. KGaA's revenue?
Fresenius Medical Care AG & Co. KGaA (FMS) reported $19.36B in revenue for fiscal year 2025. This represents a 548% increase from $2.99B in 1998.
How fast is Fresenius Medical Care AG & Co. KGaA growing?
Fresenius Medical Care AG & Co. KGaA (FMS) grew revenue by 1.5% over the past year. Growth has been modest.
Is FMS profitable?
Yes, Fresenius Medical Care AG & Co. KGaA (FMS) is profitable, generating $947.0M in net income for fiscal year 2025 (5.0% net margin).
Dividend & Returns
Does FMS pay dividends?
Yes, Fresenius Medical Care AG & Co. KGaA (FMS) pays a dividend with a yield of 3.29%. This makes it attractive for income-focused investors.
What is FMS's return on equity?
Fresenius Medical Care AG & Co. KGaA (FMS) has a return on equity (ROE) of 6.5%. This is below average, suggesting room for improvement.
What is Fresenius Medical Care AG & Co. KGaA's free cash flow?
Fresenius Medical Care AG & Co. KGaA (FMS) generated $1.77B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.