Fresenius Medical Care (FMS) Financial Statements & Analysis

Fresenius Medical Care (FMS) Income Statement

Fresenius Medical Care reported revenue of EUR 19.63B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 1.5% from EUR 19.34B a year earlier. Net income was EUR 978.37M, up 81.9% year over year, a net margin of 5.0%. Gross margin was 25.6% and operating margin 9.3%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was EUR 4.86B, up 1.4% from the same quarter a year earlier.

Fresenius Medical Care Income Statement Analysis

Values in billions EUR

Income Statement Balance Sheet Cash Flow Ratios

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Fresenius Medical Care AG income statement - Annual data in billions EUR
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	19.63	19.34	19.45	19.40	17.62	17.86	17.48	16.55	17.78
Cost of Revenue	14.60	14.58	14.53	14.50	12.85	12.32	12.08	11.39	11.78
Gross Profit	5.03	4.76	4.93	4.89	4.77	5.54	5.40	5.16	6.00
Operating Expenses
Research & Development	0.16	0.18	0.23	0.23	0.22	0.19	0.17	0.13	0.13
Selling, General & Administrative	3.03	3.14	3.20	3.17	2.77	2.97	3.03	2.87	3.58
Operating Expenses	3.00	3.15	3.56	3.38	2.97	3.16	3.13	3.00	3.71
Operating Income	1.83	1.39	1.37	1.51	1.85	2.38	2.27	3.04	2.36
Other Income/Expense
Interest Income	0.07	0.07	0.09	0.07	0.07	0.04	0.06	0.15	0.05
Interest Expense	0.38	-0.41	0.42	0.36	-0.35	-0.41	0.49	0.45	0.42
Other Income/Expense	-0.31	-0.34	-0.34	-0.29	-0.28	-0.37	-0.43	-0.30	-0.36
Income
Income Before Tax	1.51	1.06	1.03	1.22	1.57	1.94	1.84	2.74	2.01
Income Tax Expense	0.32	0.32	0.30	0.32	0.35	0.50	0.40	0.51	0.45
Net Income	0.98	0.54	0.50	0.67	0.97	1.16	1.20	1.98	1.28
Net Income - Continuous Operations	0.98	0.54	0.50	0.67	0.97	1.16	1.20	1.98	1.28
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	2.62	2.35	3.21	3.42	2.80	3.26	3.92	2.91	3.00
EBIT	1.87	1.54	1.52	1.54	1.90	2.38	-	-	-
Depreciation & Amortization	1.50	0.81	1.75	1.84	0.89	0.88	1.59	0.72	0.74
Earnings Per Share
Basic EPS	3.00	2.00	1.00	1.00	3.00	4.00	1.00	3.00	2.00
Diluted EPS	2.00	1.00	1.00	1.00	2.00	4.00	1.00	3.00	2.00
Basic Shares Outstanding	0.29	0.29	0.59	1.17	0.29	0.29	0.89	0.61	0.61
Diluted Shares Outstanding	0.29	0.29	0.59	1.17	0.29	0.29	0.89	0.61	0.61

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Fresenius Medical Care Financial Statements

What was Fresenius Medical Care's revenue in fiscal 2025?

Fresenius Medical Care reported revenue of EUR 19.63B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 1.5% from EUR 19.34B a year earlier.

Is Fresenius Medical Care profitable?

Yes. Fresenius Medical Care earned net income of EUR 978.37M in fiscal 2025, a net margin of 5.0%. In fiscal 2024 it earned EUR 537.91M.

What is Fresenius Medical Care's operating margin?

Fresenius Medical Care's operating income was EUR 1.83B on revenue of EUR 19.63B in fiscal 2025, an operating margin of 9.3%, compared with 7.2% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition