Fresenius Medical Care AG (FMS) Financial Statements
Fresenius Medical Care financial statements at a glance
Fresenius Medical Care reported revenue of 19.63 billion EUR for fiscal year 2025 (ended December 31, 2025), up 1.5% from fiscal year 2024. Net income was 978.37 million EUR, a net margin of 5.0%, and diluted earnings per share were 1.68 EUR.
At the end of fiscal year 2025 it had total assets of 31.00 billion EUR, total liabilities of 16.72 billion EUR and shareholders' equity of 13.31 billion EUR, with cash and short-term investments of 1.82 billion EUR and total debt of 10.80 billion EUR.
Its operations brought in 2.68 billion EUR of cash; capital spending was 915.37 million EUR, leaving free cash flow of 1.77 billion EUR.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in EUR; latest fiscal year ended December 31, 2025.
Fresenius Medical Care AG
Income Statement
Annual • EUR
Fresenius Medical Care key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | 19.6B EUR | 19.3B EUR | 19.5B EUR | 19.4B EUR | 17.6B EUR |
| Gross profit | 5.0B EUR | 4.8B EUR | 4.9B EUR | 4.9B EUR | 4.8B EUR |
| Operating income | 1.8B EUR | 1.5B EUR | 1.5B EUR | 1.5B EUR | 1.9B EUR |
| Net income | 978.4M EUR | 537.9M EUR | 499.0M EUR | 673.4M EUR | 969.3M EUR |
| Diluted EPS | 1.68 EUR | 0.92 EUR | 0.85 EUR | 1.15 EUR | 1.66 EUR |
| Total assets | 31.0B EUR | 33.6B EUR | 33.9B EUR | 35.8B EUR | 34.4B EUR |
| Total liabilities | 16.7B EUR | 17.8B EUR | 19.1B EUR | 20.3B EUR | 20.4B EUR |
| Shareholders' equity | 13.3B EUR | 14.6B EUR | 13.6B EUR | 14.0B EUR | 12.7B EUR |
| Cash and short-term investments | 1.8B EUR | 1.4B EUR | 1.5B EUR | 1.4B EUR | 1.6B EUR |
| Total debt | 10.8B EUR | 11.0B EUR | 12.1B EUR | 13.2B EUR | 13.3B EUR |
| Operating cash flow | 2.7B EUR | 2.4B EUR | 2.6B EUR | 2.2B EUR | 2.5B EUR |
| Capital spending | 915.4M EUR | 699.4M EUR | 684.6M EUR | 724.0M EUR | 854.4M EUR |
| Free cash flow | 1.8B EUR | 1.7B EUR | 1.9B EUR | 1.4B EUR | 1.6B EUR |
In EUR. Fiscal years as reported by the company; statements on this page go back to fiscal year 2020.
Questions and answers
What was Fresenius Medical Care's revenue in fiscal year 2025?
19.63 billion EUR, up 1.5% from 19.34 billion EUR in fiscal year 2024.
How much profit does Fresenius Medical Care make?
Fresenius Medical Care reported net income of 978.37 million EUR for fiscal year 2025 (5.0% of revenue); operating income was 1.83 billion EUR.
How much cash and debt does Fresenius Medical Care have?
At the end of fiscal year 2025: cash and short-term investments of 1.82 billion EUR and total debt of 10.80 billion EUR.
What is Fresenius Medical Care's free cash flow?
1.77 billion EUR in fiscal year 2025 (operating cash flow of 2.68 billion EUR minus capital spending of 915.37 million EUR).
