Fresenius Medical Care Q4 Revenue at €5.07B
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 24 2026
0mins
Should l Buy FMS?
Reports Q4 revenue EUR5.07B vs. EUR5.08B last year. "Fresenius Medical Care closed a milestone year marked by outstanding profitability gains. Over the past three years, we built a stronger and more resilient company, meeting all key financial and strategic aspects of the mid-term outlook that we had set for 2025. In 2025, we delivered revenue and operating income growth at the upper end of our outlook, overcoming a difficult market environment," said CEO Helen Giza. "Our operating income margin of 11.3% is well within the mid-term margin target band we established three years ago for 2025. The Group's step-up in profitability was the result of solid business growth, accelerated FME25+ efficiency gains, higher-than-expected benefits from TDAPA regulation and favorable reimbursement developments, with all segments making meaningful contributions. Looking ahead to 2026, we are set to build on the remarkable transformation of recent years and advance the execution of our FME Reignite strategy. For our patients, we are excited to expand access to high-volume hemodiafiltration in the U.S. with the large-scale rollout of our innovative 5008X CAREsystem. We expect to grow operating income by three to seven percent CAGR out to 2028 and to increase returns for our shareholders."
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy FMS?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on FMS
Wall Street analysts forecast FMS stock price to rise
2 Analyst Rating
0 Buy
1 Hold
1 Sell
Moderate Sell
Current: 23.470
Low
22.00
Averages
25.00
High
28.00
Current: 23.470
Low
22.00
Averages
25.00
High
28.00
About FMS
Fresenius Medical Care AG, formerly Fresenius Medical Care AG & Co. KGaA is a Germany-based kidney dialysis institute. The Company provides dialysis care and related services to persons suffering from end-stage renal disease (ESRD) and offers other extracorporeal therapies, as well as other healthcare services. It has two operating segments such as care delivery segment which consolidates the global health care services business and care enablement segment includes research and development (R&D), manufacturing, supply chain, and commercial operations. It develops and manufactures health care products, which includes dialysis and non-dialysis products. Such as hemodialysis machines, peritoneal cyclers, dialyzers, peritoneal solutions and granulates, bloodlines, renal pharmaceuticals, and systems for water treatment. Its non-dialysis products include acute cardiopulmonary and apheresis products. It owns, operates, or manages dialysis clinics sells products to other dialysis providers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Focus Graphite Launches $14.1M NRCan-Funded Program for High-Purity Graphite Production
- Program Launch: Focus Graphite has shipped a six-tonne bulk ore sample from its 100%-owned Lac Knife Graphite Project, officially commencing a NRCan-funded demonstration program aimed at producing approximately 500 kilograms of high-purity graphite concentrate to support downstream thermal purification and product validation.
- Technical Collaboration: SGS Canada will handle the crushing, blending, and metallurgical benchmarking of the sample, targeting the generation of high-grade graphite concentrate with approximately 95% graphitic carbon, with production expected to be completed and shipped to technology partner TMEC within 8 to 9 weeks.
- Strategic Importance: This initiative not only advances Canada's self-sufficiency in critical minerals but also provides essential support for downstream applications of graphite in batteries and defense, thereby strengthening national economic security.
- Future Outlook: Focus Graphite is evaluating multiple potential host facilities for the installation of its thermal purification demonstration plant, aiming to establish a complete supply chain pathway from resource to high-purity graphite product, further enhancing its competitive position in the market.
See More
Fresenius Medical Care Reports Q4 2025 Earnings and Future Outlook
- Earnings Highlights: Fresenius Medical Care reported a Q4 2025 Non-GAAP EPS of €1.44 and revenue of €5.07 billion, reflecting a slight year-over-year decline of 0.2%, indicating stability amid market fluctuations.
- Shareholder Return Plan: The proposed dividend for fiscal year 2025 is €1.49 per share, a 3% increase, representing 33% of adjusted net income, demonstrating the company's ongoing commitment to shareholders, alongside a €1.0 billion share buyback program currently underway.
- Divergent Business Performance: Care Delivery revenue decreased by 2% to €3.507 billion, but grew by 6% at constant currency, while Value-Based Care revenue surged by 32% to €637 million, reflecting success in new business areas.
- Future Outlook: Fresenius Medical Care expects revenue growth to be broadly flat in 2026, with operating income anticipated to remain in a mid-single-digit growth range, indicating a cautious approach to future growth while confirming its mid-teens operating income margin target for 2030.
See More
Fresenius Medical Care Q4 Earnings Preview
- Earnings Announcement Date: Fresenius Medical Care is set to release its Q4 2023 earnings on February 24 before market open, with consensus EPS estimate at $0.66, reflecting a 27.5% year-over-year decline, and revenue estimate at $5.72 billion, down 4.5% year-over-year.
- Historical Performance: Over the past two years, Fresenius has beaten EPS estimates 100% of the time and revenue estimates 88% of the time, indicating a strong track record of exceeding financial forecasts and maintaining investor confidence.
- Estimate Revision Trends: In the last three months, EPS estimates saw one upward revision with no downward adjustments, while revenue estimates experienced two upward and two downward revisions, suggesting mixed market sentiment regarding the company's future performance.
- Market Confidence Issues: Despite its historical performance, there is low confidence in Fresenius Medical Care's ability to accelerate growth, which may limit potential upside in its stock price.
See More
Glaukos Corp (GKOS) Projects FY25 Sales of $507 Million, Shares Drop 12.1%
- Glaukos Sales Projection: Glaukos Corp anticipates FY25 sales of $507 million, yet its shares fell 12.1% in pre-market trading, indicating market concerns about its growth outlook despite the positive sales forecast.
- Briacell's Sharp Decline: Briacell Therapeutics' announcement of a $30 million public offering led to a staggering 53.1% drop in its stock price during pre-market trading, reflecting investor apprehension regarding the financing strategy.
- Trip.com Investigation Impact: Trip.com Group confirmed it is under investigation by China's SAMR for potential anti-monopoly violations, resulting in a 9.3% decline in its pre-market stock price, which may adversely affect its market performance and investor confidence.
- Pearson Trading Update: Pearson PLC's trading update for 2025 caused its shares to drop 7.2% in pre-market trading, indicating a cautious market sentiment regarding its future performance.
See More
Focus Graphite Develops Low-Cost AI Technology to Enhance Lac Tetepisca Project Economics
- Technological Innovation: Focus Graphite has successfully developed and validated a low-cost AI-enabled in situ graphite flake size characterization technology, directly integrated into the geometallurgical model of the Lac Tetepisca Project, thereby enhancing resource valuation accuracy and mining planning efficiency.
- Economic Benefits: Preliminary results indicate an inverse relationship between graphite grade and flake size, supporting the potential for a lower cut-off grade, which is expected to positively impact project economics, particularly in the upcoming mineral resource estimate.
- Sample Processing Progress: Approximately 300 samples are currently being processed to support the mineral resource estimate update anticipated in Q1 2026, ensuring the effectiveness and reliability of the new technology.
- Sustainability Strategy: The application of this technology not only enhances selective mining but also complements Focus's ESG initiatives by promoting low-emission, chemical-free purification technologies, ensuring a sustainable supply chain from mine to market.
See More
Fresenius Medical Continues Buyback Program with €415 Million Target in Second Tranche
- Continuation of Buyback Program: Fresenius Medical Care announced the continuation of its €1 billion share buyback program, with the second tranche targeting approximately €415 million from January 12 to May 8, aimed at enhancing shareholder value and boosting market confidence.
- Successful Completion of First Tranche: The first tranche was completed ahead of schedule on December 29, demonstrating the company's confidence in its stock value and laying a solid foundation for subsequent buybacks, which are expected to further enhance shareholder returns.
- Positive Market Reaction: Fresenius Medical's shares rose by 0.82% to €39.33 on XETRA, reflecting investor optimism regarding the buyback program, which may bolster market expectations for the company's future performance.
- Diverse Use of Repurchased Shares: The repurchased shares will primarily be canceled, with a portion potentially allocated for incentive-based compensation plans, which not only helps improve earnings per share but also enhances employee motivation and loyalty.
See More
Focus Graphite Launches $14.1M NRCan-Funded Program for High-Purity Graphite Production
- Program Launch: Focus Graphite has shipped a six-tonne bulk ore sample from its 100%-owned Lac Knife Graphite Project, officially commencing a NRCan-funded demonstration program aimed at producing approximately 500 kilograms of high-purity graphite concentrate to support downstream thermal purification and product validation.
- Technical Collaboration: SGS Canada will handle the crushing, blending, and metallurgical benchmarking of the sample, targeting the generation of high-grade graphite concentrate with approximately 95% graphitic carbon, with production expected to be completed and shipped to technology partner TMEC within 8 to 9 weeks.
- Strategic Importance: This initiative not only advances Canada's self-sufficiency in critical minerals but also provides essential support for downstream applications of graphite in batteries and defense, thereby strengthening national economic security.
- Future Outlook: Focus Graphite is evaluating multiple potential host facilities for the installation of its thermal purification demonstration plant, aiming to establish a complete supply chain pathway from resource to high-purity graphite product, further enhancing its competitive position in the market.
See More
Fresenius Medical Care Reports Q4 2025 Earnings and Future Outlook
- Earnings Highlights: Fresenius Medical Care reported a Q4 2025 Non-GAAP EPS of €1.44 and revenue of €5.07 billion, reflecting a slight year-over-year decline of 0.2%, indicating stability amid market fluctuations.
- Shareholder Return Plan: The proposed dividend for fiscal year 2025 is €1.49 per share, a 3% increase, representing 33% of adjusted net income, demonstrating the company's ongoing commitment to shareholders, alongside a €1.0 billion share buyback program currently underway.
- Divergent Business Performance: Care Delivery revenue decreased by 2% to €3.507 billion, but grew by 6% at constant currency, while Value-Based Care revenue surged by 32% to €637 million, reflecting success in new business areas.
- Future Outlook: Fresenius Medical Care expects revenue growth to be broadly flat in 2026, with operating income anticipated to remain in a mid-single-digit growth range, indicating a cautious approach to future growth while confirming its mid-teens operating income margin target for 2030.
See More
Fresenius Medical Care Q4 Earnings Preview
- Earnings Announcement Date: Fresenius Medical Care is set to release its Q4 2023 earnings on February 24 before market open, with consensus EPS estimate at $0.66, reflecting a 27.5% year-over-year decline, and revenue estimate at $5.72 billion, down 4.5% year-over-year.
- Historical Performance: Over the past two years, Fresenius has beaten EPS estimates 100% of the time and revenue estimates 88% of the time, indicating a strong track record of exceeding financial forecasts and maintaining investor confidence.
- Estimate Revision Trends: In the last three months, EPS estimates saw one upward revision with no downward adjustments, while revenue estimates experienced two upward and two downward revisions, suggesting mixed market sentiment regarding the company's future performance.
- Market Confidence Issues: Despite its historical performance, there is low confidence in Fresenius Medical Care's ability to accelerate growth, which may limit potential upside in its stock price.
See More
Glaukos Corp (GKOS) Projects FY25 Sales of $507 Million, Shares Drop 12.1%
- Glaukos Sales Projection: Glaukos Corp anticipates FY25 sales of $507 million, yet its shares fell 12.1% in pre-market trading, indicating market concerns about its growth outlook despite the positive sales forecast.
- Briacell's Sharp Decline: Briacell Therapeutics' announcement of a $30 million public offering led to a staggering 53.1% drop in its stock price during pre-market trading, reflecting investor apprehension regarding the financing strategy.
- Trip.com Investigation Impact: Trip.com Group confirmed it is under investigation by China's SAMR for potential anti-monopoly violations, resulting in a 9.3% decline in its pre-market stock price, which may adversely affect its market performance and investor confidence.
- Pearson Trading Update: Pearson PLC's trading update for 2025 caused its shares to drop 7.2% in pre-market trading, indicating a cautious market sentiment regarding its future performance.
See More
Focus Graphite Develops Low-Cost AI Technology to Enhance Lac Tetepisca Project Economics
- Technological Innovation: Focus Graphite has successfully developed and validated a low-cost AI-enabled in situ graphite flake size characterization technology, directly integrated into the geometallurgical model of the Lac Tetepisca Project, thereby enhancing resource valuation accuracy and mining planning efficiency.
- Economic Benefits: Preliminary results indicate an inverse relationship between graphite grade and flake size, supporting the potential for a lower cut-off grade, which is expected to positively impact project economics, particularly in the upcoming mineral resource estimate.
- Sample Processing Progress: Approximately 300 samples are currently being processed to support the mineral resource estimate update anticipated in Q1 2026, ensuring the effectiveness and reliability of the new technology.
- Sustainability Strategy: The application of this technology not only enhances selective mining but also complements Focus's ESG initiatives by promoting low-emission, chemical-free purification technologies, ensuring a sustainable supply chain from mine to market.
See More
Fresenius Medical Continues Buyback Program with €415 Million Target in Second Tranche
- Continuation of Buyback Program: Fresenius Medical Care announced the continuation of its €1 billion share buyback program, with the second tranche targeting approximately €415 million from January 12 to May 8, aimed at enhancing shareholder value and boosting market confidence.
- Successful Completion of First Tranche: The first tranche was completed ahead of schedule on December 29, demonstrating the company's confidence in its stock value and laying a solid foundation for subsequent buybacks, which are expected to further enhance shareholder returns.
- Positive Market Reaction: Fresenius Medical's shares rose by 0.82% to €39.33 on XETRA, reflecting investor optimism regarding the buyback program, which may bolster market expectations for the company's future performance.
- Diverse Use of Repurchased Shares: The repurchased shares will primarily be canceled, with a portion potentially allocated for incentive-based compensation plans, which not only helps improve earnings per share but also enhances employee motivation and loyalty.
See More
