Cash Flow Statement
Growth Metrics

Fresenius Medical Care AG (FMS) Change in Inventory (2023 - 2025)

Fresenius Medical Care AG (FMS) posted Change in Inventory of -$68.7 million for Q4 2025, down 279.2% on a QoQ basis from -$18.1 million in Q2 2025, and down 166.95% year-over-year from $102.6 million in Q4 2024.

Fresenius Medical Care AG (FMS) has 3 years of Change in Inventory data on file, last reported at -$68.7 million in Q4 2025.

  • In Q4 2025, Change in Inventory fell 166.95% year-over-year to -$68.7 million; the TTM figure through Dec 2025 stood at -$58.9 million (down 150.52% YoY), while the FY2025 annual figure was -$289.8 million, down 351.15% from the prior year.
  • Change in Inventory declined to -$68.7 million in Q4 2025, from -$18.1 million in the prior quarter.
  • Across five years, Change in Inventory topped out at $102.6 million in Q4 2024 and bottomed at -$94.5 million in Q1 2023.
  • A 3-year average of -$5.3 million and a median of -$18.1 million in 2025 frame the typical range for Change in Inventory.
  • Annual changes were most pronounced in 2024 — Change in Inventory surged 127.01% — and 2025, when it plunged 166.95%.
  • Year by year, Change in Inventory stood at $45.2 million in 2023, then soared by 127.01% to $102.6 million in 2024, then slumped by 166.95% to -$68.7 million in 2025.
  • The last three Change in Inventory figures came in at -$68.7 million (Q4 2025), -$18.1 million (Q2 2025), and -$74.7 million (Q1 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Change in Inventory (Qtr)
1 HCA Healthcare 84.64 Bn 87.02 Bn 16.26 Bn -
2 Tenet Healthcare 15.22 Bn 14.39 Bn 4.41 Bn -
3 Davita 13.10 Bn 13.96 Bn 1.07 Bn -20.28 Mn
4 Encompass Health 10.50 Bn 11.12 Bn 1.34 Bn -
5 Ensign 9.69 Bn 9.09 Bn 293.37 Mn -
6 Universal Health Services 8.92 Bn 8.88 Bn 3.21 Bn -
7 Fresenius Medical Care AG 7.31 Bn 4.93 Bn 22,843.10 Bn -68.68 Mn
8 Chemed 5.83 Bn 5.81 Bn 215.76 Mn -335,000.00
9 Pacs 5.76 Bn 5.51 Bn 345.96 Mn -
10 Option Care Health 3.27 Bn 3.09 Bn 262.01 Mn -55.46 Mn

Historic Data

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DateValue
Dec 31, 2025 -68.68 Mn
Dec 31, 2025 -68.68 Mn
Jun 30, 2025 -18.11 Mn
Jun 30, 2025 -18.11 Mn
Mar 31, 2025 -74.68 Mn
Mar 31, 2025 -74.68 Mn
Dec 31, 2024 102.59 Mn
Dec 31, 2024 102.59 Mn
Sep 30, 2024 74.68 Mn
Sep 30, 2024 74.68 Mn
Jun 30, 2024 -16.15 Mn
Jun 30, 2024 -16.15 Mn
Mar 31, 2024 -44.54 Mn
Mar 31, 2024 -44.54 Mn
Dec 31, 2023 45.19 Mn
Dec 31, 2023 45.19 Mn
Sep 30, 2023 59.87 Mn
Sep 30, 2023 59.87 Mn
Jun 30, 2023 -23.96 Mn
Jun 30, 2023 -23.96 Mn
Mar 31, 2023 -94.45 Mn
Mar 31, 2023 -94.45 Mn