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Fresenius Medical Care Corporation (FMS) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

HEALTHCARE · MEDICAL CARE FACILITIES · DATA UPDATED 2026-09-12

Fresenius Medical Care Corporation (FMS) operates in the MEDICAL CARE FACILITIES industry and is headquartered in Bad Homburg, Germany with about 107,226 employees. Its market capitalization is roughly $12 billion. In the fiscal year ended 2025-12-31, FMS reported €19.6B in revenue and €978M in net income.

Fresenius Medical Care AG provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

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FMS Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	€19.4B	€19.6B	€19.3B	€19.5B	€19.4B	€17.6B	€17.9B	€17.5B	€16.5B	€17.8B	€17.0B	€15.3B	€13.0B	€10.6B	€10.4B	€9.9B	€9.1B	€7.8B	€7.6B	€6.7B	€6.4B
Gross Profit	€5.1B	€5.0B	€4.8B	€4.9B	€4.9B	€4.8B	€5.5B	€5.4B	€5.2B	€6.0B	€5.5B	€4.9B	€4.1B	€3.4B	€3.5B	€3.5B	€3.1B	€2.7B	€2.6B	€2.3B	€2.2B
Gross Margin %	26.4%	25.6%	24.6%	25.3%	25.2%	27.1%	31.0%	30.9%	31.1%	33.8%	32.3%	31.9%	31.6%	32.4%	33.3%	35.3%	34.4%	34.1%	34.2%	34.5%	33.9%
Operating Income (EBIT)	€1.9B	€1.8B	€1.5B	€1.4B	€1.5B	€1.9B	€2.3B	€2.3B	€3.0B	€2.4B	€2.5B	€2.1B	€1.9B	€1.6B	€1.7B	€1.6B	€1.4B	€1.2B	€1.2B	€1.1B	€999M
Operating Margin %	9.7%	9.3%	7.6%	7.0%	7.8%	10.5%	12.9%	13.0%	18.4%	13.3%	14.7%	13.9%	14.2%	15.4%	16.1%	16.2%	16.0%	15.6%	15.8%	16.3%	15.5%
Net Income	€938M	€978M	€538M	€499M	€673M	€969M	€1.2B	€1.2B	€2.0B	€1.3B	€1.2B	€941M	€859M	€804M	€897M	€826M	€736M	€622M	€587M	€492M	€407M
Net Margin %	4.8%	5.0%	2.8%	2.6%	3.5%	5.5%	6.5%	6.9%	12.0%	7.2%	6.9%	6.2%	6.6%	7.6%	8.6%	8.4%	8.1%	7.9%	7.7%	7.4%	6.3%
EBITDA	€3.4B	€3.4B	€3.2B	€3.2B	€3.4B	€3.5B	€4.1B	€3.9B	€2.9B	€3.0B	€3.0B	€2.8B	€2.5B	€2.1B	€2.1B	€2.1B	€1.8B	€1.6B	€1.5B	€1.3B	€1.2B
Earnings Per Share (EPS)	€1.66	€1.68	€0.92	€0.85	€0.57	€0.83	€3.96	€1.35	€3.23	€2.08	€1.93	€1.54	€1.42	€1.32	€1.46	€1.35	€1.22	€1.04	€0.99	€0.83	€0.69
Shares Outstanding (M)	539M	582M	587M	587M	1,173M	1,172M	294M	887M	614M	615M	613M	610M	606M	609M	614M	610M	604M	597M	596M	594M	592M

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FMS Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	€4.9B	€4.6B	€5.1B	€4.9B	€4.8B	€4.9B	€5.1B	€4.8B
Gross Profit	€1.3B	€1.2B	€1.4B	€1.2B	€1.2B	€1.2B	€1.3B	€1.1B
Gross Margin %	27.0%	25.6%	27.4%	25.4%	25.3%	24.2%	25.0%	24.1%
Operating Income (EBIT)	€466M	€376M	€549M	€502M	€394M	€382M	€399M	€463M
Operating Margin %	9.6%	8.1%	10.8%	10.3%	8.2%	7.8%	7.8%	9.7%
Net Income	€218M	€118M	€327M	€275M	€225M	€151M	€67M	€213M
Net Margin %	4.5%	2.5%	6.5%	5.6%	4.7%	3.1%	1.3%	4.5%
EBITDA	€823M	€764M	€981M	€853M	€822M	€741M	€757M	€846M
Earnings Per Share (EPS)	€0.40	€0.21	€0.57	€0.47	€0.38	€0.26	€0.06	€0.18
Shares Outstanding (M)	539M	550M	572M	585M	587M	587M	1,174M	1,174M

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FMS Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	€2.8B	€2.6B	€2.4B	€2.6B	€2.2B	€2.5B	€4.2B	€2.6B	€2.1B	€2.2B	€2.0B	€1.8B	€1.5B	€1.5B	€1.5B	€1.1B	€1.0B	€935M	€730M	€823M	€688M
Capital Expenditures (CapEx)	€1.0B	€879M	€699M	€685M	€1.4B	€1.7B	€2.1B	€2.2B	€2.1B	€1.8B	€1.9B	€1.7B	€1.5B	€542M	€511M	€1.8B	€394M	€401M	€494M	€398M	€354M
Free Cash Flow (FCF)	€1.8B	€1.7B	€1.7B	€1.9B	€756M	€806M	€2.1B	€329M	€2M	€407M	€93M	€66M	€7M	€932M	€1.0B	(€723M)	€635M	€534M	€236M	€425M	€334M
FCF Margin %	9.1%	8.6%	8.7%	10.0%	3.9%	4.6%	12.0%	1.9%	0.0%	2.3%	0.5%	0.4%	0.1%	8.8%	9.9%	-7.3%	7.0%	6.8%	3.1%	6.4%	5.2%
Dividends Paid	—	€406M	€349M	€329M	€396M	€392M	€351M	€355M	€325M	€294M	€264M	€241M	€261M	€214M	€205M	€217M	€174M	€209M	€181M	€129M	€116M

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FMS Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	€860M	€227M	€975M	€742M	€775M	€163M	€832M	€985M
Capital Expenditures (CapEx)	€240M	€190M	€410M	€192M	€154M	€146M	€241M	€165M
Free Cash Flow (FCF)	€620M	€37M	€564M	€549M	€621M	€17M	€591M	€819M
FCF Margin %	12.8%	0.8%	11.1%	11.2%	13.0%	0.4%	11.6%	17.2%
Dividends Paid	—	—	€2M	€423M	€423M	—	€349M	€349M

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FMS Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	€31.3B	€31.0B	€33.6B	€33.9B	€35.8B	€34.4B	€31.7B	€32.9B	€26.2B	€24.0B	€25.5B	€23.4B	€20.9B	€16.7B	€16.9B	€15.1B	€12.9B	€11.0B	€10.7B	€9.7B	€9.9B
Cash & Cash Equivalents	€1.1B	€1.6B	€1.2B	€1.4B	€1.3B	€1.5B	€1.1B	€1.0B	€2.1B	€978M	€709M	€503M	€524M	€496M	€520M	€353M	€393M	€210M	€159M	€168M	€120M
Total Liabilities	€17.8B	€16.7B	€17.8B	€19.1B	€20.3B	€20.4B	€19.4B	€19.7B	€13.3B	€13.2B	€14.5B	€13.8B	€12.6B	€9.9B	€9.9B	€8.9B	€7.2B	€6.3B	€6.3B	€5.9B	€6.1B
Total Debt (Short + Long-Term)	€8.2B	€7.9B	€7.5B	€8.5B	€9.2B	€9.2B	€8.5B	€9.7B	€7.5B	€7.4B	€8.1B	€7.9B	€9.5B	€8.2B	€8.2B	€6.8B	€5.0B	€5.4B	€5.4B	€4.9B	€5.5B
Total Shareholders' Equity	€12.6B	€14.3B	€14.6B	€13.6B	€14.0B	€12.7B	€12.3B	€12.0B	€11.8B	€9.8B	€10.0B	€9.6B	€7.8B	€6.7B	€6.8B	€6.1B	€5.5B	€4.7B	€4.3B	€3.8B	€3.7B

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive FMS viewer.

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OPCH · Option Care Health Inc — $4 billion
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