Fresenius Medical Care AG (FMS) Free Cash Flow (2009 - 2025)

Fresenius Medical Care AG (FMS) recorded quarterly Free Cash Flow of $1.7 billion in Q4 2025, up 90.67% quarter-over-quarter from $866.9 million in Q3 2025, and up 45.24% on a YoY basis from $1.1 billion in Q4 2024.

Fresenius Medical Care AG (FMS) Free Cash Flow (2009 - 2025) Analysis & Trends

Fresenius Medical Care AG's Free Cash Flow history runs 17 years deep, the most recent figure standing at $1.7 billion for 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 was $1.7 billion for Q4 2025 at Fresenius Medical Care AG, up from $866.9 million in the prior quarter.
  • In the past five years, Free Cash Flow ranged from a high of $1.7 billion in Q4 2025 to a low of $278.1 million in Q1 2024.
  • Historically, Free Cash Flow has averaged $884.2 million across 5 years, with a median of $977.4 million in 2022.
  • The sharpest annual moves came in 2021 and 2025: Free Cash Flow tumbled 51.65% in 2021, then soared 62.88% in 2025.
  • A 5-year view of Free Cash Flow shows it 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), $866.9 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 83.85 Bn 86.23 Bn 16.26 Bn 895.00 Mn
2 Tenet Healthcare 14.98 Bn 14.15 Bn 4.41 Bn 1.46 Bn
3 Davita 13.99 Bn 14.84 Bn 1.07 Bn 218.81 Mn
4 Encompass Health 9.72 Bn 10.34 Bn 1.34 Bn 150.70 Mn
5 Ensign 8.90 Bn 8.31 Bn 293.37 Mn 90.18 Mn
6 Universal Health Services 8.59 Bn 8.55 Bn 3.21 Bn 184.47 Mn
7 Fresenius Medical Care AG 7.67 Bn 5.29 Bn -4.26 Bn 1.65 Bn
8 Chemed 5.97 Bn 5.96 Bn 215.76 Mn 71.10 Mn
9 Pacs 5.74 Bn 5.50 Bn 345.96 Mn 149.82 Mn
10 Concentra Group Holdings Parent 3.59 Bn 3.54 Bn 170.47 Mn 9.93 Mn

Historic Data

Download Data
DateValue
Dec 31, 2025 1.65 Bn
Dec 31, 2025 1.65 Bn
Sep 30, 2025 866.92 Mn
Sep 30, 2025 866.92 Mn
Jun 30, 2025 1.04 Bn
Jun 30, 2025 1.04 Bn
Mar 31, 2025 320.64 Mn
Mar 31, 2025 320.64 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