Fresenius Medical Care AG (FMS) Free Cash Flow (2009 - 2025)
Fresenius Medical Care AG (FMS) posted Free Cash Flow of $1.7 billion for Q4 2025, up 90.73% on a QoQ basis from $866.6 million in Q3 2025, and up 45.24% year-over-year from $1.1 billion in Q4 2024.
Fresenius Medical Care AG (FMS) has 17 years of Free Cash Flow data on file, last reported at $1.7 billion in Q4 2025.
- In Q4 2025, Free Cash Flow rose 45.24% year-over-year to $1.7 billion; the TTM figure through Dec 2025 stood at $3.9 billion (up 16.8% YoY), while the FY2025 annual figure was $4.2 billion, up 26.99% from the prior year.
- Free Cash Flow rose to $1.7 billion in Q4 2025, from $866.6 million in the prior quarter.
- Across five years, Free Cash Flow topped out at $1.7 billion in Q4 2025 and bottomed at $278.1 million in Q1 2024.
- A 5-year average of $884.2 million and a median of $977.4 million in 2022 frame the typical range for Free Cash Flow.
- Annual changes were most pronounced in 2021 — Free Cash Flow sank 51.65% — and 2025, when it jumped 62.88%.
- Year by year, Free Cash Flow stood at $1.1 billion in 2021, then slipped by 23.75% to $818.2 million in 2022, then advanced by 25.97% to $1.0 billion in 2023, then grew by 10.41% to $1.1 billion in 2024, then surged by 45.24% to $1.7 billion in 2025.
- The last three Free Cash Flow figures came in at $1.7 billion (Q4 2025), $866.6 million (Q3 2025), and $1.0 billion (Q2 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 84.64 Bn | 87.02 Bn | 16.26 Bn | 895.00 Mn |
| 2 | Tenet Healthcare | 15.22 Bn | 14.39 Bn | 4.41 Bn | 1.46 Bn |
| 3 | Davita | 13.10 Bn | 13.96 Bn | 1.07 Bn | 218.81 Mn |
| 4 | Encompass Health | 10.50 Bn | 11.12 Bn | 1.34 Bn | 150.70 Mn |
| 5 | Ensign | 9.69 Bn | 9.09 Bn | 293.37 Mn | 90.18 Mn |
| 6 | Universal Health Services | 8.92 Bn | 8.88 Bn | 3.21 Bn | 184.47 Mn |
| 7 | Fresenius Medical Care AG | 7.31 Bn | 4.93 Bn | 22,843.10 Bn | 1.65 Bn |
| 8 | Chemed | 5.83 Bn | 5.81 Bn | 215.76 Mn | 71.10 Mn |
| 9 | Pacs | 5.76 Bn | 5.51 Bn | 345.96 Mn | 149.82 Mn |
| 10 | Option Care Health | 3.27 Bn | 3.09 Bn | 262.01 Mn | -21.16 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 1.65 Bn |
| Dec 31, 2025 | 1.65 Bn |
| Sep 30, 2025 | 866.64 Mn |
| Sep 30, 2025 | 866.64 Mn |
| Jun 30, 2025 | 1.04 Bn |
| Jun 30, 2025 | 1.04 Bn |
| Mar 31, 2025 | 320.82 Mn |
| Mar 31, 2025 | 320.82 Mn |
| Dec 31, 2024 | 1.14 Bn |
| Dec 31, 2024 | 1.14 Bn |
| Sep 30, 2024 | 1.27 Bn |
| Sep 30, 2024 | 1.27 Bn |
| Jun 30, 2024 | 640.75 Mn |
| Jun 30, 2024 | 640.75 Mn |
| Mar 31, 2024 | 278.11 Mn |
| Mar 31, 2024 | 278.11 Mn |
| Dec 31, 2023 | 1.03 Bn |
| Dec 31, 2023 | 1.03 Bn |
| Sep 30, 2023 | 973.20 Mn |
| Sep 30, 2023 | 973.20 Mn |
| Jun 30, 2023 | 1.27 Bn |
| Jun 30, 2023 | 1.27 Bn |
| Mar 31, 2023 | 304.83 Mn |
| Mar 31, 2023 | 304.83 Mn |
| Dec 31, 2022 | 818.24 Mn |
| Dec 31, 2022 | 818.24 Mn |
| Sep 30, 2022 | 821.74 Mn |
| Sep 30, 2022 | 821.74 Mn |
| Jun 30, 2022 | 981.69 Mn |
| Jun 30, 2022 | 981.69 Mn |
| Mar 31, 2022 | 357.69 Mn |
| Mar 31, 2022 | 357.69 Mn |
| Dec 31, 2021 | 1.07 Bn |
| Dec 31, 2021 | 1.07 Bn |
| Sep 30, 2021 | 1.03 Bn |
| Sep 30, 2021 | 1.03 Bn |
| Jun 30, 2021 | 1.35 Bn |
| Jun 30, 2021 | 1.35 Bn |
| Mar 31, 2021 | 466.39 Mn |
| Mar 31, 2021 | 466.39 Mn |
| Dec 31, 2020 | 1.06 Bn |
| Dec 31, 2020 | 1.06 Bn |
| Sep 30, 2020 | 1.16 Bn |
| Sep 30, 2020 | 1.16 Bn |
| Jun 30, 2020 | 2.79 Bn |
| Jun 30, 2020 | 2.79 Bn |
| Mar 31, 2020 | 956.09 Mn |
| Mar 31, 2020 | 956.09 Mn |
| Dec 31, 2019 | 1.23 Bn |
| Dec 31, 2019 | 1.23 Bn |
| Sep 30, 2019 | 1.29 Bn |
| Sep 30, 2019 | 1.29 Bn |
| Jun 30, 2019 | 1.29 Bn |
| Jun 30, 2019 | 1.29 Bn |
| Mar 31, 2019 | 314.67 Mn |
| Mar 31, 2019 | 314.67 Mn |
| Dec 31, 2018 | 1.17 Bn |
| Dec 31, 2018 | 1.17 Bn |
| Sep 30, 2018 | 2.27 Bn |
| Sep 30, 2018 | 2.27 Bn |
| Jun 30, 2018 | 1.07 Bn |
| Jun 30, 2018 | 1.07 Bn |
| Mar 31, 2018 | -327.15 Mn |
| Mar 31, 2018 | -327.15 Mn |
| Dec 31, 2017 | -368.54 Mn |
| Dec 31, 2017 | -368.54 Mn |
| Sep 30, 2017 | 987.05 Mn |
| Sep 30, 2017 | 987.05 Mn |
| Jun 30, 2017 | 1.20 Bn |
| Jun 30, 2017 | 1.20 Bn |
| Mar 31, 2017 | 391,157.75 |
| Mar 31, 2017 | 391,157.75 |
| Dec 31, 2016 | 1.13 Bn |
| Dec 31, 2016 | 1.13 Bn |
| Sep 30, 2016 | 679.76 Mn |
| Sep 30, 2016 | 679.76 Mn |
| Jun 30, 2016 | 938.37 Mn |
| Jun 30, 2016 | 938.37 Mn |
| Mar 31, 2016 | 430.37 Mn |
| Mar 31, 2016 | 430.37 Mn |
| Dec 31, 2015 | 854.00 Mn |
| Dec 31, 2015 | 854.00 Mn |
| Sep 30, 2015 | 808.87 Mn |
| Sep 30, 2015 | 808.87 Mn |
| Jun 30, 2015 | 835.50 Mn |
| Jun 30, 2015 | 835.50 Mn |
| Mar 31, 2015 | 414.70 Mn |
| Mar 31, 2015 | 414.70 Mn |
| Dec 31, 2014 | 1.52 Bn |
| Dec 31, 2014 | 1.52 Bn |
| Sep 30, 2014 | -353.42 Mn |
| Sep 30, 2014 | -353.42 Mn |
| Jun 30, 2014 | 668.94 Mn |
| Jun 30, 2014 | 668.94 Mn |
| Mar 31, 2014 | 311.93 Mn |
| Mar 31, 2014 | 311.93 Mn |
| Dec 31, 2013 | 1.34 Bn |
| Dec 31, 2013 | 1.34 Bn |
| Sep 30, 2013 | 784.32 Mn |
| Sep 30, 2013 | 784.32 Mn |
| Jun 30, 2013 | 711.40 Mn |
| Jun 30, 2013 | 711.40 Mn |
| Mar 31, 2013 | 462.78 Mn |
| Mar 31, 2013 | 462.78 Mn |
| Dec 31, 2012 | 1.25 Bn |
| Dec 31, 2012 | 1.25 Bn |
| Sep 30, 2012 | 707.95 Mn |
| Sep 30, 2012 | 707.95 Mn |
| Jun 30, 2012 | 603.79 Mn |
| Jun 30, 2012 | 603.79 Mn |
| Mar 31, 2012 | 605.60 Mn |
| Mar 31, 2012 | 605.60 Mn |
| Dec 31, 2011 | -497.68 Mn |
| Dec 31, 2011 | -497.68 Mn |
| Sep 30, 2011 | 621.36 Mn |
| Sep 30, 2011 | 621.36 Mn |
| Jun 30, 2011 | 432.46 Mn |
| Jun 30, 2011 | 432.46 Mn |
| Mar 31, 2011 | 292.49 Mn |
| Mar 31, 2011 | 292.49 Mn |
| Dec 31, 2010 | 172,936.00 |
| Dec 31, 2010 | 172,936.00 |
| Sep 30, 2010 | 262,258.00 |
| Sep 30, 2010 | 262,258.00 |
| Jun 30, 2010 | 870.10 Mn |
| Jun 30, 2010 | 870.10 Mn |
| Mar 31, 2010 | 455.00 |
| Mar 31, 2010 | 455.00 |
| Dec 31, 2009 | 284,623.00 |
| Dec 31, 2009 | 284,623.00 |
| Sep 30, 2009 | 304,345.00 |
| Sep 30, 2009 | 304,345.00 |
| Jun 30, 2009 | 281.00 Mn |
| Jun 30, 2009 | 281.00 Mn |
| Mar 31, 2009 | 156.00 Mn |
| Mar 31, 2009 | 156.00 Mn |