Fresenius Medical Care AG & Co. KGaA

FMSNYSEHealthcare● Active

$21.84

$-0.19(-0.86%)

Market Cap$11.7B

P/E Ratio—

52W High$29.07

52W Low$20.02

Avg Volume711K

Open$21.98

Beta0.81

Free Cash Flow Financials Revenue

Fresenius Medical Care AG & Co. KGaA (FMS) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

FMS · free cash flow · updated Jun 8, 2026

Core FCF metrics

FMS · FCF · TTM · margin & CAGR

Free cash flow was $1.70B for FY2025 (fiscal year ending 2025-12-31), up 0.5% year-over-year The FCF margin was 8.6%. Five-year CAGR stands at -11.8%.

FY2025 Free Cash Flow$1.70B▲ +0.5% YoY

Trailing 12M (TTM)$1.77Btrailing 4 quarters sum

FCF Margin8.6%$1.70B ÷ revenue

3-Year CAGR+5.5%FY2022 → FY2025

5-Year CAGR-11.8%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

FMS · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$2.58B(879M)$1.70B▲ +0.5%8.6%

FY2024$2.39B(699M)$1.69B▼ 13.2%8.7%

FY2023$2.63B(685M)$1.94B▲ +34.7%10.0%

FY2022$2.17B(724M)$1.44B▼ 11.7%7.4%

FY2021$2.49B(854M)$1.64B▼ 48.6%9.3%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

FMS · P/FCF · FCF yield · FCF per share

Fresenius Medical Care AG & Co. KGaA (FMS) trades at a FCF yield of 17.54% and a price-to-free-cash-flow ratio of 7.2x. FCF per share stands at $3.04, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

17.54%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$3.04

TTM FCF ÷ Shares Outstanding

Price / FCF

x7.2

Share Price ÷ FCF per Share

EV / FCF (TTM)

x11.2

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

FMS · cash flow statement · operating / investing / financing

For FY2025, Fresenius Medical Care AG & Co. KGaA generated $2.58B in operating cash flow and spent 879M in capital expenditures, yielding $1.70B in free cash flow.

Operating Activities

+$2.58B

Cash from core business operations

2025-12-31

Investing Activities

−$666.2M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$1.38B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($2.58B) − |CapEx| (879M) = FCF ($1.70B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

FMS vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Fresenius Medical Care AG & Co. KGaAYOU

FMS

$1.70B+0.5%8.6%

UnitedHealth Group Incorporated

UNH

$16.07B-22.4%3.6%

82%

Eli Lilly and Company

LLY

$8.97B+2065.6%13.8%

46%

Healthcare · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Fresenius Medical Care AG & Co. KGaA (FMS) reported free cash flow of $1.70B for FY2025 (fiscal year ending 2025-12-31), up 0.5% year-over-year. The FCF margin was 8.6%.

Based on available data, Fresenius Medical Care AG & Co. KGaA has maintained positive free cash flow for at least 14 fiscal year(s). FCF peaked at $3.18B in FY2020. The 5-year CAGR stands at -11.8%.

Fresenius Medical Care AG & Co. KGaA's FCF yield is 17.54% and price-to-FCF ratio is 7.2x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

FMS free cash flow · 8 questions

Fresenius Medical Care AG & Co. KGaA free cash flow was $1.70B for FY2025, up 0.5% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $1.77B.

FMS free cash flowFMS FCFFMS FCF 2025FMS free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Fresenius Medical Care AG & Co. KGaA · Fresenius Medical Care AG & Co. KGaA SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026