# Fresenius Medical Care AG American (FMS) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Healthcare / Health Care Equipment & Supplies. Price $22.66, market value $12.1 billion.

## Valuation
- **P/E (trailing): 11.8×** (5-yr avg 16.0×, 3-yr avg 19.7×). Fresenius Medical Care AG American trades at 11.8× trailing earnings, well below its own five-year average of 16.0×: cheap by its own standards. The Healthcare median in the September 2026 study was 28.5×. Forward P/E is 6.2×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.07**. A PEG of 0.07 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 0.6×**. Each dollar of revenue is priced at 0.6×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 0.8×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 6.1×**. Enterprise value is 6.1× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 14.8%** (5-yr avg 14.4%). Free cash flow equals 14.8% of the market value, in line with its five-year average of 14.4%. Above 5% is generally attractive.
- **Earnings yield: 8.5%**. The inverse of the P/E: 8.5% of the price is earned each year.

## Profitability
- **Gross margin: 26.4%**. Fresenius Medical Care AG American keeps 26.4% of revenue after the direct cost of what it sells.
- **Operating margin: 10.1%**. 10.1% of revenue is left after running the business.
- **Net margin: 5.0%**. 5.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 7.4%**. 7.4% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 7.0%**. Return on all capital, debt included, is 7.0%.
- **Return on assets: 3.0%**. Each dollar of assets produces 3.0% of profit.

## Growth
- **Revenue growth (1 yr): 1.5%** (3-yr 0.4%/yr). Revenue grew 1.5% over the last year.
- **EPS growth (1 yr): 83.6%** (3-yr 13.5%/yr, 5-yr -13.0%/yr). Earnings per share rose 83.6%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 6.9%/yr**. Free cash flow has compounded at 6.9% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 0.81**. Debt is 0.81 times equity, moderate leverage.
- **Net debt / EBITDA: 2.6×**. It would take 2.6 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 5.1×**. Operating profit covers interest 5.1× over, a safe margin.
- **Current ratio: 1.26** (quick 0.92). Current assets cover the next year's liabilities 1.26 times.
- **Altman Z-score: 1.93**. A Z-score of 1.93 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 8/9**. 8 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 3.85%** ($0.87 per share, trailing). Fresenius Medical Care AG American yields 3.85%, an income-level yield.
- **Payout ratio: 43%**. 43% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 2**. 2 straight years of increases.
- **Dividend growth (5 yr): 2.9%/yr** (1-yr 28.5%). The dividend has grown 2.9% a year over five years.
- **Shareholder yield: 12.8%**. Dividends plus net buybacks return 12.8% of the market value a year.

## Analyst view
- **Analyst consensus: hold** (7 analysts). 7 analysts cover Fresenius Medical Care AG American; the consensus is hold, with an average price target of $25.80 (+14% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -3.0%** (YTD -1.0%, 3-mo 2.9%). The shares are down 3.0% over twelve months including dividends.
- **From 52-week high: -18.0%** (13.2% above the low). Trading 18% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 35**. An RSI of 35 is neutral.
- **Beta (1 yr): 0.29** (volatility 29%). Beta of 0.29 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=FMS · Page: https://foliofundamentals.com/stocks/fms

Not investment advice.