Fresenius Medical Care AG & Co. KGaA
5-year stock timeline
Current price (XETRA): €37.09; below is a concise, fact‑focused 5‑year timeline (2020–2026) of the company, investor narrative, and the chart phases that materially moved the stock.
Key company events
During the COVID‑19 emergency in 2020, Fresenius Medical Care supplied CRRT equipment under FDA Emergency Use Authorization and mobilized machines to pandemic hotspots, materially affecting operations and demand patterns that year.
The company implemented a new global operating model effective January 1, 2023 and completed a legal conversion registered November 30, 2023, while its DOJ/SEC remediation obligations were fulfilled and expired in 2023, removing a major regulatory overhang.
FDA clearance for the 5008X hemodialysis system in 2024 and subsequent U.S. commercialization activity, together with the launch of the strategic program "FME Reignite" in 2025, marked major milestones for product-led growth.
Investor perception
Early in the pandemic, investors viewed the stock as a critical supplier in essential healthcare with defensive characteristics. Through 2022–2023, sentiment shifted toward a company undergoing structural transformation and compliance cleanup as the operating model and legal matters were executed.
From 2024–2025, the narrative moved toward innovation and commercialization as regulatory clearances and strategy announcements supported re‑rating toward growth‑oriented expectations.
Stock‑moving catalysts
Principal price drivers were pandemic-related demand and EUA activity in 2020, the 2023 operational reorganization and expiry of DOJ/SEC agreements, 2024 FDA approvals, and 2024–2025 commercialization and strategic updates—each producing noticeable sentiment and flow effects around results and guidance.
The appointment of Helen Giza as CEO effective December 6, 2022 was a material governance event that influenced investor confidence and messaging around the turnaround and growth focus.
Chart phases (technical)
The stock endured a sharp drawdown in March 2020 with the broader market but recovered into 2021, followed by a volatile sideways phase across 2021–2023 while structural changes and legal matters were worked through.
An upward re‑rating with renewed momentum appeared in 2024–2025 around clinical approvals and commercial rollouts, producing fresh highs within the 2024–2025 trading range and renewed investor interest.
Key risks and downside factors
Fresenius Medical Care operates in a competitive global renal-care market where it faces established publicly traded rivals like DaVita and Baxter, alongside regional device makers such as Nipro. Private and family-owned competitors like B. Braun hold meaningful positions across clinical services and product lines, particularly in Europe and select emerging markets. The company's risk profile centers on reimbursement and regulatory exposure, competitive pricing pressure, supply-chain and currency volatility, and the potential disruption from home-based dialysis technologies gaining adoption.
- Reimbursement and regulatory shifts in the US and EU pose material risks to revenue and margins.
- Intense competition from large listed peers like DaVita and Baxter, alongside regional manufacturers such as Nipro, is creating pricing pressure and eroding market share [6][1][14].
- A shift toward home and portable dialysis technologies threatens to reduce demand for traditional clinic-based services, forcing providers to invest heavily in R&D and capital reallocation to stay relevant.
- Supply-chain and foreign-exchange exposure across device components, alongside operational, litigation, and compliance risks embedded in clinical services.
Competitive landscape
Fresenius Medical Care dominates global renal dialysis—both products and services—competing against established dialysis operators and medical device companies in developed markets. DaVita, Baxter, and emerging players like Outset Medical form the public competitive set, while private operators including B. Braun and home-dialysis startups continue reshaping economics and forcing innovation. The company faces meaningful exposure to reimbursement shifts in key geographies, regulatory and compliance risk, the structural pivot toward home dialysis (where smaller, nimbler competitors have advantages), and the typical operational hazards—supply disruptions or product liability events—that can simultaneously pressure both service margins and device revenue.
| Company | Ticker |
|---|---|
| DaVita Inc. [web:5][web:16] | DVA.NYSE |
| Baxter International Inc. [web:11][web:19] | BAX.NYSE |
| Outset Medical, Inc. [web:1][web:14] | OM.NASDAQ |
Private competitors
- B. Braun Melsungen AG [web:4]
- AWAK Technologies (home‑dialysis innovator) [web:4]
- Strive Health (renal care services/startup) [web:6]
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Start Free TrialPerformance Figures of Fresenius Medical Care AG & Co. KGaA
Relative Performance vs Benchmarks
| Period | Fresenius Medical Care AG & Co. KGaA | vs DAX | vs S&P 500 (SPY) |
|---|---|---|---|
| 1M | -0.36% | -4.62% | -5.81% |
| 3M | -2.22% | -1.26% | -11.92% |
| 6M | -6.49% | -11.55% | -16.93% |
| 1Y | -24.72% | -28.90% | -53.87% |
| 3Y | -0.06% | -57.04% | -85.73% |
| 5Y | -34.76% | -96.12% | -126.06% |
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Start Free TrialHistorical valuation trends
How the company’s key valuation ratios (P/E, P/S, P/B and P/CF) have evolved over time compared to today.
| Period | P/E Ratio | P/S Ratio | P/B Ratio | P/CF Ratio |
|---|---|---|---|---|
| Current | 10.8 | 0.5 | 0.8 | 3.7 |
| 1Y ago | 24.8 | 0.8 | 1.1 | 6.3 |
| 3Y ago | 15.5 | 0.6 | 0.9 | 5.5 |
| 5Y ago | 17.2 | 1.1 | 1.6 | 5.0 |
Frequently Asked Questions
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What are the key metrics for FME.XETRA?
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What are the key risks when investing in FME.XETRA?
- Reimbursement and regulatory shifts in the US and EU pose material risks to revenue and margins.
- Intense competition from large listed peers like DaVita and Baxter, alongside regional manufacturers such as Nipro, is creating pricing pressure and eroding market share [web:6][web:1][web:14].
- A shift toward home and portable dialysis technologies threatens to reduce demand for traditional clinic-based services, forcing providers to invest heavily in R&D and capital reallocation to stay relevant.
- Supply-chain and foreign-exchange exposure across device components, alongside operational, litigation, and compliance risks embedded in clinical services.
Who are the main competitors of Fresenius Medical Care AG & Co. KGaA?
- DaVita Inc. [web:5][web:16] (DVA.NYSE)
- Baxter International Inc. [web:11][web:19] (BAX.NYSE)
- Outset Medical, Inc. [web:1][web:14] (OM.NASDAQ)
When does Fresenius Medical Care AG & Co. KGaA report earnings?
Key Metrics
Valuation Metrics
Profitability Metrics
Growth Metrics
Dividend history
Long-term record of paid dividends (amount per share and dividend yield at the time of payment).
| Year | Dividend | Yield at payment | Avg. yield |
|---|---|---|---|
| 2026 | 1.49 EUR | 3.84% | 1.91% |
| 2025 | 1.44 EUR | 2.74% | |
| 2024 | 1.19 EUR | 2.85% | |
| 2023 | 1.12 EUR | 2.54% | |
| 2022 | 1.35 EUR | 2.39% | |
| 2021 | 1.34 EUR | 1.98% | |
| 2020 | 1.20 EUR | 1.65% | |
| 2020 | 1.20 EUR | 1.64% | |
| 2019 | 1.17 EUR | 1.65% | |
| 2018 | 1.06 EUR | 1.20% | |
| 2017 | 0.96 EUR | 1.12% | |
| 2016 | 0.80 EUR | 1.08% | |
| 2015 | 0.78 EUR | 0.98% | |
| 2014 | 0.77 EUR | 1.60% | |
| 2013 | 0.75 EUR | 1.42% |
Earnings history & estimates
Historical earnings performance shows how consistently the company meets or exceeds analyst expectations. Forward estimates provide insight into expected profitability and growth trajectory.
Historical earnings performance
Upcoming earnings report
Analyst estimates for upcoming periods
Key financial figures
Selected income statement, balance sheet and cash flow figures. Annual and quarterly, based on reported IFRS/GAAP financials.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | 19.63B | 19.34B | 19.45B | 19.40B | 17.62B |
| Operating income (EBIT) | 1.84B | 1.39B | 1.37B | 1.54B | 301.32M |
| Net income | 978.00M | 537.91M | 499.00M | 673.40M | 969.31M |
| Free cash flow | 1.77B | 1.69B | 1.94B | 756.00M | 806.00M |
| Total assets | 31.00B | 33.57B | 33.93B | 35.75B | 34.37B |
| Equity | 13.31B | 14.58B | 13.62B | 15.45B | 13.98B |
| Net debt | 12.10B | 9.83B | 10.65B | 11.94B | 11.84B |
PWP Leeway UG (haftungsbeschränkt)
