Fresenius Medical Care Corporation (FMS) Fair Value & Analysis
Healthcare · US · Market cap $12.7B · ISIN US3580291066
What is Fresenius Medical Care Corporation really worth?
Fresenius Medical Care Corporation
FMS · US
A solid business, trading 52% below our fair value of $46.42.
Strengths
Risks
For context
Fair value as of: Aug 19, 2026
From 26 valuation models · updated 17 days ago
Fair value updated Aug 19, 2026, revised from $46.23 to $46.42 (+0.4%) since Aug 13, 2026. Share price −6.4% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price is below even our cautious bear case ($27.85). The market is more pessimistic than our downside scenario.
- Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range ($27.85 to $58.02) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.
How to read this chart
60‑month range $11.33 – $36.37 · fair‑value band $27.85 – $58.02 · the $22.47 price screens below the $46.42 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.
Analysis
Fresenius Medical Care Corporation (FMS) currently trades at $22.47, while our model-based Fair Value estimate is $46.42, implying the stock looks roughly 51.6% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Healthcare sector. Bull case: the Growth DCF group reads highest at a median of $40.71 per share, and 21 of the 26 models we run sit above the $22.47 price. Bear case: the Earnings-Based group reads lowest at $9.62, and 5 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Fresenius Medical Care Corporation generated revenue of $19.4B at a net margin of 4.9%. Revenue declined 5.5% year over year. It earns a return on equity of 7.9%. Net debt stands at $9.2B. Fundamentals as of Aug 19, 2026
Our scenario range runs from $27.85 (bear case) to $58.02 (bull case); at $22.47, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 19% below its 52-week high and 17% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −9% fair-value upside, at 107%, FMS screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $0.2775 per share, which is 0.6 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: Growth DCF ($40.71) versus Earnings-Based ($9.62). Highest evidence: FCF DCF (79).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 60 · Market factors (momentum, volatility) 49
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Fresenius Medical Care AG provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.
Full company description
Fresenius Medical Care AG provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally. The company offers dialysis treatment and related laboratory and diagnostic services through a network of outpatient dialysis clinics; materials, training, and patient support services comprising clinical monitoring, follow-up assistance, and arranging for delivery of the supplies to the patient's residence; and dialysis services under contract to hospitals in the United States for the hospitalized end-stage renal disease (ESRD) patients and for patients suffering from acute kidney failure. The company operates through Care Delivery and Care Enablement segments. It also develops, manufactures, and distributes various health care products, including hemodialysis machines, peritoneal dialysis cyclers, peritoneal dialysis solutions, hemodialysis concentrates, solutions and granulates, bloodlines, renal pharmaceuticals, systems for water treatment, and acute cardiopulmonary and apheresis products. In addition, the company develops, acquires, and in-licenses renal pharmaceuticals; offers renal medications and supplies to patients at homes or to dialysis clinics; and provides vascular specialty, ambulatory surgery center, physician nephrology practice management, pharmacy and other services. The company sells its products to dialysis clinics, hospitals, and specialized treatment clinics, as well as through local sales forces, independent distributors, dealers, and sales agents. The company was incorporated in 1996 and is headquartered in Bad Homburg, Germany.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Fresenius Medical Care Corporation reported revenue of €19.6B in FY2025 versus €17.6B in FY2021, a compound +2.7%/yr. Reported net income was €978M in FY2025, compounding +0.2%/yr from FY2021.
of which total revenue +2.9 % · buybacks/dilution +0.5 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Fresenius Medical Care Announces Publication of a Multinational Real-World Evidence Study Associating High-Volume Hemodiafiltration with Low
- Fresenius Medical Care (FMS) Q2 2026 Earnings Call Transcript
- FMS Q2 Earnings Rise on Care Delivery, Revenues Miss, Margins Expand
- Fresenius Medical Care (XTRA:FME) Expands BEACON US To Build Its Case For HVHDF
Peer Group
Medical Care Facilities · 256 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Medical Care Facilities median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| HCA Healthcare, Inc HCA | $417.82 | $547.67 | +31% |
| Fresenius SE FRE | €45.25 | €32.15 | −29% |
| Dr. Sulaiman Al Habib Medical Services Group 4013 | 241.00 SAR | 112.37 SAR | −53% |
| IHH Healthcare Berhad, an investment holding company, Q0F | 2.67 SGD | 1.44 SGD | −46% |
| Tenet Healthcare Corporation THC | $266.80 | $330.25 | +24% |
| DaVita Inc DVA | $180.68 | $186.49 | +3% |
| Apollo Hospitals Enterprise Limited APOLLOHOSP | ₹8,818 | ₹2,955 | −66% |
| Aier Eye Hospital Group 300015 | ¥8.25 | ¥7.67 | −7% |
| Max Healthcare Institute Limited MAXHEALTH | ₹1,005 | ₹284.87 | −72% |
| Encompass Health Corporation EHC | $120.31 | $109.77 | −9% |
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