Fresenius Medical Care AG & Co. KGaA (NYSE:FMS) Releases Earnings Results

Fresenius Medical Care AG & Co. KGaA (NYSE:FMS) announced its quarterly earnings data on Tuesday. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.16, Zacks reports. The company had revenue of $5.95 billion for the quarter, compared to analyst estimates of $4.80 billion. Fresenius Medical Care AG & Co. KGaA had a return on equity of 8.71% and a net margin of 5.03%.

Here are the key takeaways from Fresenius Medical Care AG & Co. KGaA’s conference call:

• Fresenius Medical Care reported an exceptional Q4 and full-year 2025, with Q4 organic revenue growth of 8%, adjusted operating income up 53%, Q4 margin of 13.9% and EPS growth of 68%, hitting the upper end of its 2025 outlook.
• The company generated strong cash flow (EUR 2.7bn in 2025), accelerated its EUR 1bn share buyback (repurchasing ~EUR 586m in 2025 plus additional tranches), raised the dividend and reduced net leverage to 2.5x.
• Under the new FME Reignite strategy Fresenius carved out Value Based Care and began a large-scale U.S. rollout of the 5008X machine (targeting ~20% of owned clinics in 2026, training >7,200 staff and transitioning ~36,000 patients); management calls this a long‑term growth and outcome driver but expects rollout-related OpEx headwinds in 2026.
• Value Based Care is now a separate segment that generated >EUR 2bn revenue in 2025 and reached break‑even for the year (Q4 operating income of EUR 29m), a material improvement from prior loss-making years.
• Management warned of near-term regulatory and phasing headwinds into 2026: strong 2025 tailwinds from TDAPA/phosphate binder and catheter-related payments (around EUR 220m + ~EUR 90m) will partly phase out, and China procurement/regulatory pressures imply a EUR 150–200m regulatory headwind for 2026 and a group margin outlook of 10.5%–12%.

Fresenius Medical Care AG & Co. KGaA Price Performance

NYSE:FMS traded up $0.59 during mid-day trading on Thursday, reaching $23.24. 282,770 shares of the company were exchanged, compared to its average volume of 681,344. Fresenius Medical Care AG & Co. KGaA has a 12 month low of $20.94 and a 12 month high of $30.46. The company has a fifty day moving average of $23.30 and a 200 day moving average of $24.46. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.45. The stock has a market cap of $13.47 billion, a PE ratio of 12.16, a PEG ratio of 0.72 and a beta of 0.90.

Analyst Upgrades and Downgrades

FMS has been the subject of several research reports. Erste Group Bank cut Fresenius Medical Care AG & Co. KGaA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Weiss Ratings cut shares of Fresenius Medical Care AG & Co. KGaA from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 5th. The Goldman Sachs Group downgraded shares of Fresenius Medical Care AG & Co. KGaA from a “buy” rating to a “neutral” rating in a report on Tuesday, January 20th. Wall Street Zen raised shares of Fresenius Medical Care AG & Co. KGaA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 20th. Finally, Zacks Research lowered shares of Fresenius Medical Care AG & Co. KGaA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $28.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. CIBC Private Wealth Group LLC increased its stake in shares of Fresenius Medical Care AG & Co. KGaA by 398.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,380 shares of the company’s stock valued at $36,000 after buying an additional 1,103 shares during the period. Arax Advisory Partners increased its position in Fresenius Medical Care AG & Co. KGaA by 121.6% in the fourth quarter. Arax Advisory Partners now owns 1,613 shares of the company’s stock worth $38,000 after purchasing an additional 885 shares during the period. Kestra Advisory Services LLC bought a new stake in Fresenius Medical Care AG & Co. KGaA during the 4th quarter worth about $48,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Fresenius Medical Care AG & Co. KGaA during the 4th quarter valued at about $58,000. Finally, Group One Trading LLC bought a new position in shares of Fresenius Medical Care AG & Co. KGaA in the 3rd quarter valued at about $74,000. Institutional investors and hedge funds own 8.37% of the company’s stock.

Fresenius Medical Care AG & Co. KGaA Company Profile

Fresenius Medical Care AG & Co KGaA is the world’s largest integrated provider of products and services for individuals with renal diseases. The company’s primary business activities encompass the operation of dialysis clinics and the manufacture and distribution of dialysis equipment, dialysis machines, dialyzers, consumables and related therapies. Through its global network of clinics, Fresenius Medical Care delivers comprehensive kidney care, including hemodialysis and peritoneal dialysis treatments, patient education and support services.

In its products segment, the company designs and produces dialysis machines, water treatment systems and disposables such as high‐flux dialyzers and bloodlines.