Fresenius Medical Care (FMS) Balance Sheet: Assets & Liabilities

Fresenius Medical Care (FMS) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Fresenius Medical Care reported total assets of EUR 31.00B and total liabilities of EUR 16.72B. Shareholders' equity was EUR 13.31B, down 8.7% from EUR 14.58B a year earlier. Total debt stood at EUR 7.30B against EUR 1.82B in cash and short-term investments, a net debt position of EUR 5.48B. That puts debt-to-equity at 0.55, compared with 0.75 a year earlier.

Fresenius Medical Care Balance Sheet Analysis

Values in billions EUR

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Fresenius Medical Care AG (FMS) - 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
Current Assets
Cash and Cash Equivalents	1.58	1.18	1.38	1.27	1.48	1.08	1.01	2.15	0.98
Short-Term Investments	0.24	0.16	0.14	0.19	0.16	0.18	0.16	0.12	0.02
Cash & Short-Term Investments	1.82	1.34	1.51	1.46	1.64	1.26	1.16	2.27	0.99
Accounts Receivable	3.16	3.41	3.43	3.72	3.41	3.62	3.59	3.43	3.50
Inventory	2.14	2.07	2.18	2.30	2.04	1.90	1.66	1.47	1.29
Other Current Assets	0.21	1.10	0.33	0.73	0.88	0.04	0.75	0.68	0.59
Total Current Assets	7.90	7.92	8.70	8.20	7.97	7.28	7.17	7.85	6.37
Non-Current Assets
Property, Plant & Equipment (Net)	6.50	7.26	7.45	8.34	8.55	8.19	8.52	3.84	3.49
Long-Term Investments	0.66	1.12	0.64	1.20	0.79	0.76	0.70	0.65	0.65
Goodwill	13.57	15.17	14.65	15.79	14.36	12.96	14.02	12.21	12.10
Intangible Assets	1.25	1.37	1.36	1.52	1.46	1.38	1.43	0.68	0.68
Other Non-Current Assets	0.22	0.72	0.22	0.70	1.24	0.65	1.11	1.02	0.73
Total Non-Current Assets	23.10	25.64	25.23	27.55	26.40	24.41	25.77	18.40	17.65
Total Assets	31.00	33.57	33.93	35.75	34.37	31.69	32.93	26.24	24.03
Current Liabilities
Accounts Payable	0.84	0.98	0.89	0.95	0.86	0.79	0.84	0.80	0.74
Short-Term Debt	1.61	1.22	0.94	2.02	1.26	1.01	3.26	2.50	1.65
Current Portion of Long-Term Debt	1.60	0.58	0.49	0.69	0.67	1.01	-	-	-
Accrued Liabilities	0.26	0.25	0.25	1.57	3.68	1.14	-	-	-
Deferred Revenue	0.11	0.08	0.09	0.11	0.52	0.61	0.03	0.00	0.28
Other Current Liabilities	1.44	3.09	1.85	3.13	0.14	1.70	2.83	2.90	2.47
Total Current Liabilities	6.25	5.66	6.11	6.47	7.26	6.06	7.06	6.27	5.30
Non-Current Liabilities
Long-Term Debt	5.69	9.76	6.96	11.18	6.65	6.80	10.52	5.05	5.79
Deferred Tax Liabilities	0.69	0.71	0.75	0.94	0.87	0.79	0.74	0.63	0.47
Other Non-Current Liabilities	0.06	1.63	0.06	1.72	2.40	0.81	1.38	1.40	1.63
Total Non-Current Liabilities	10.47	12.14	12.99	13.84	13.13	13.30	12.65	7.07	7.90
Total Liabilities	16.72	17.80	19.10	20.30	20.39	19.36	19.71	13.34	13.20
Stockholders' Equity
Common Stock	0.29	0.29	0.29	0.29	0.29	0.29	0.30	0.31	0.31
Retained Earnings	12.21	11.27	10.92	10.71	10.83	10.25	9.45	8.83	7.14
Accumulated Other Comprehensive Income	-1.68	-0.33	-0.98	-0.39	-1.31	-2.21	-1.04	-1.20	-1.49
Treasury Stock	0.59	-	-	-	-	-	-	-	-
Additional Paid-in Capital	3.08	3.35	3.38	3.37	2.89	2.87	3.24	3.82	3.86
Minority Interest	0.97	1.19	1.21	1.46	1.28	1.12	1.27	1.14	1.01
Shares Outstanding	0.28	0.29	0.29	0.29	0.29	-	-	-	-
Total Stockholders' Equity	13.31	14.58	13.62	13.99	13.98	12.33	11.96	11.76	9.82
Total Liabilities & Equity	31.00	33.57	33.93	35.75	34.37	31.69	32.93	26.24	24.03

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 Balance Sheet

How much debt does Fresenius Medical Care have?

Fresenius Medical Care had total debt of EUR 7.30B as of Dec 31, 2025, against EUR 1.82B in cash and short-term investments. Its debt-to-equity ratio was 0.55. Total debt was EUR 10.98B a year earlier.

What are Fresenius Medical Care's total assets?

Fresenius Medical Care reported total assets of EUR 31.00B as of Dec 31, 2025, down 7.6% from EUR 33.57B a year earlier. Total liabilities were EUR 16.72B.

What is Fresenius Medical Care's shareholders' equity?

Fresenius Medical Care's shareholders' equity was EUR 13.31B as of Dec 31, 2025, or about EUR 47.66 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition