FMS on NYSE

Fresenius Medical Care

Logo: Fresenius Medical Care, Public domain, via Wikimedia Commons4

German medical supply and dialysis company

Fresenius Medical Care AG & Co. KGaA is a German healthcare company which provides kidney dialysis services through a network of 4,171 outpatient dialysis centers, serving 345,425 patients.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

19.6BRevenue, fiscal 20255
1.2BNet income, fiscal 20255
1975Founded1

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  • TickerFMS on NYSE1
  • Industryhealth care, medical technology industry, pharmaceutical industry1
  • HeadquartersBad Homburg vor der Höhe1
  • Websitefmcna.com
  • Legal formAG & Co. KGaA1
  • Listed onFrankfurt Stock Exchange (FME), New York Stock Exchange (FMS)1
  • Business addressElse-Kroener Strasse 1, Bad Homburg, 2M 613526
  • Filer categoryLarge accelerated filer6

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Fresenius Medical Care AG & Co. KGaA is a German healthcare company which provides kidney dialysis services through a network of 4,171 outpatient dialysis centers, serving 345,425 patients. The company primarily treats end-stage renal disease (ESRD), which requires patients to undergo dialysis 3 times per week for the rest of their lives.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from. Figures are in EUR, the currency the company reports in.

Key numbers, fiscal 2025

9.3%Operating margin5
6.1%Net margin5
1.5%Revenue growth, 20255
8.3%Return on equity5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Health Care Services brought in 67% of the revenue Fresenius Medical Care broke down this way in fiscal 2025.

  1. Health Care Services13.1B EUR567%down 3% from 2024
  2. Health Care Products4.4B EUR522%up 4% from 2024
  3. Insurance contracts issued [member]2.1B EUR511%up 31% from 2024
Products and services by year
Products and services202320242025
Health Care Services14.2B EUR13.5B EUR13.1B EUR
Health Care Products4.1B EUR4.3B EUR4.4B EUR
Insurance contracts issued [member]1.2B EUR1.6B EUR2.1B EUR

Business segments

Reportable segments [member] brought in 48% of the revenue Fresenius Medical Care broke down this way in fiscal 2025.

  1. Reportable segments [member]19.6B EUR548%up 2% from 2024
  2. Care Delivery13.7B EUR533%down 2% from 2024
  3. Care Enablement5.5B EUR513%down 1% from 2024
  4. Value-Based Care2.2B EUR55%up 28% from 2024
Business segments by year
Business segments202320242025
Reportable segments [member]19.5B EUR19.3B EUR19.6B EUR
Care Delivery14.7B EUR14.0B EUR13.7B EUR
Care Enablement5.3B EUR5.6B EUR5.5B EUR
Value-Based Care1.3B EUR1.8B EUR2.2B EUR

Regions

Foreign countries [member] brought in 57% of the revenue Fresenius Medical Care broke down this way in fiscal 2025.

  1. Foreign countries [member]19.1B EUR557%up 1% from 2024
  2. United States14.2B EUR542%up 4% from 2024
  3. Germany494.6M EUR51%up 3% from 2024
Regions by year
Regions202320242025
Foreign countries [member]19.0B EUR18.9B EUR19.1B EUR
United States13.5B EUR13.7B EUR14.2B EUR
Germany484.2M EUR479.0M EUR494.6M EUR

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs94¢18.4B EUR
  • Profit6¢1.2B EUR

Out of 19.6B EUR in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Kept or used elsewhere100¢2.7B EUR

Out of 2.7B EUR of cash from operations.5

Financial statements

Revenue7891011519.6B EUR in 2025+19% since 2018
05.0B EUR10.0B EUR15.0B EUR20.0B EUR2018: 16.5B EUR16.5B EUR20182019: 17.5B EUR17.5B EUR2019+6%2020: 17.9B EUR17.9B EUR2020+2%2021: 17.6B EUR17.6B EUR2021−1%2022: 19.4B EUR19.4B EUR2022+10%2023: 19.5B EUR19.5B EUR2023+0%2024: 19.3B EUR19.3B EUR2024−1%2025: 19.6B EUR19.6B EUR2025+2%
Gross profit7895.3B EUR in 2022+3% since 2018
02.0B EUR4.0B EUR6.0B EUR2018: 5.2B EUR5.2B EUR20182019: 5.4B EUR5.4B EUR2019+5%2020: 5.5B EUR5.5B EUR2020+3%2021: 5.1B EUR5.1B EUR2021−8%2022: 5.3B EUR5.3B EUR2022+5%
Operating income789101151.8B EUR in 2025−40% since 2018
01.0B EUR2.0B EUR3.0B EUR4.0B EUR2018: 3.0B EUR3.0B EUR20182019: 2.3B EUR2.3B EUR2019−25%2020: 2.3B EUR2.3B EUR2020+2%2021: 1.9B EUR1.9B EUR2021−20%2022: 1.5B EUR1.5B EUR2022−18%2023: 1.4B EUR1.4B EUR2023−9%2024: 1.4B EUR1.4B EUR2024+2%2025: 1.8B EUR1.8B EUR2025+31%
Net income789101151.2B EUR in 2025−46% since 2018
01.0B EUR2.0B EUR3.0B EUR2018: 2.2B EUR2.2B EUR20182019: 1.4B EUR1.4B EUR2019−35%2020: 1.4B EUR1.4B EUR2020−0%2021: 1.2B EUR1.2B EUR2021−15%2022: 894.3M EUR894.3M EUR2022−27%2023: 732.5M EUR732.5M EUR2023−18%2024: 740.9M EUR740.9M EUR2024+1%2025: 1.2B EUR1.2B EUR2025+61%

Every line of the income statement in the latest annual report, as filed.5

Period ending2025-12-312024-12-312023-12-31
Healthcare services13.1B EUR13.5B EUR14.2B EUR
Healthcare products4.4B EUR4.3B EUR4.1B EUR
Insurance contracts2.1B EUR1.6B EUR1.2B EUR
Revenue19.6B EUR19.3B EUR19.5B EUR
Healthcare services10.1B EUR10.6B EUR11.0B EUR
Healthcare products2.4B EUR2.4B EUR2.3B EUR
Insurance contracts2.1B EUR1.6B EUR1.2B EUR
Costs of revenue14.6B EUR14.6B EUR14.5B EUR
Selling, general and administrative3.0B EUR3.1B EUR3.2B EUR
Research and development158.0M EUR183.5M EUR232.0M EUR
Income from equity method investees-181.4M EUR-134.9M EUR-121.8M EUR
Other operating income-528.1M EUR-760.1M EUR-515.2M EUR
Other operating expense720.7M EUR932.9M EUR764.3M EUR
Operating income1.8B EUR1.4B EUR1.4B EUR
Interest income-69.6M EUR-71.6M EUR-88.2M EUR
Interest expense384.4M EUR407.0M EUR424.6M EUR
Income before income taxes1.5B EUR1.1B EUR1.0B EUR
Income tax expense321.0M EUR316.1M EUR300.6M EUR
Net income1.2B EUR740.9M EUR732.5M EUR
Net income attributable to noncontrolling interests212.9M EUR203.0M EUR233.5M EUR
Net income attributable to shareholders of FME AG978.4M EUR537.9M EUR499.0M EUR
Basic earnings per share3.36 EUR1.83 EUR1.70 EUR
Diluted earnings per share3.36 EUR1.83 EUR1.70 EUR

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How it started

History

In 1996, Fresenius SE & Co. KGaA merged its dialysis business into W.R. Grace's National Medical Care to form Fresenius Medical Care.

In 2000, the company pleaded guilty to billing Medicare for unnecessary medical tests and to paying kickbacks for lab business and paid a $486 million fine.

In February 2012, the company acquired Liberty Dialysis Holding, which added 201 clinics, for $1.5 billion.

In March 2012, Rice Powell was appointed CEO.

In 2013, the company acquired Shiel Medical Laboratory, expanding services to New York City metro area. In December 2017, the company sold this business to Quest Diagnostics.

From Wikipedia’s article on Fresenius Medical Care, shared under CC BY-SA 4.0.3

Leadership

Who has led Fresenius Medical Care, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Helen Giza2022–now
19801990200020102020

Products and brands

  • renal dialysis

Listed on Wikidata.1

Subsidiaries and ownership

Parent company

Subsidiaries

  • Fresenius Medical Care - ČR, s.r.o.

From Wikidata.1

Employees over time

  • 2020125,3641

Former names

  • Fresenius Medical Care AG & Co. KGaADec 20, 2005 to Nov 21, 20236

Timeline

  1. 2022New chief executive Helen Giza becomes CEO1
  2. 1975Founded Founded1

Recent filings

  1. Oct 7, 20266-K
  2. Sep 25, 20266-K
  3. Aug 27, 20266-K
  4. Aug 24, 2026SCHEDULE 13D/A
  5. Aug 4, 20266-K
  6. Aug 3, 20266-K
  7. Aug 3, 20266-K
  8. Aug 3, 20266-K
  9. Jul 29, 20266-K
  10. Jul 28, 2026SCHEDULE 13G
  11. Jun 29, 202611-K
  12. May 28, 2026SD
  13. May 28, 20266-K
  14. May 26, 20266-K
  15. May 5, 20266-K

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

The numbers on this page point here. Each one links to the record it came from.

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