Fresenius Medical Care AG (FMS) Operating Margin (2009 - 2026)
Fresenius Medical Care AG (FMS) posted Operating Margin of 7.78% for the quarter ended Sep 30, 2026, down 1.97 percentage points from 9.75% a year earlier and down 1.80 percentage points from the prior quarter.
Fresenius Medical Care AG (FMS) Operating Margin (2009 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Operating Margin at Fresenius Medical Care AG was 6.92%, down 0.75 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at 9.31%, up 2.11 percentage points from the prior year.
- Annual Operating Margin shows a five-year change of -3.59 percentage points (years ended Dec 2020 to Dec 2025).
- In prior years, Fresenius Medical Care AG's Operating Margin was 7.20% in the year ended Dec 31, 2024 (+0.16 pp), 7.04% in the year ended Dec 31, 2023 (-0.75 pp), 7.79% in the year ended Dec 31, 2022 (-2.72 pp) and 10.51% in the year ended Dec 31, 2021 (-2.39 pp).
- Quarterly Operating Margin has run from a low of 5.09% in the quarter ended Dec 31, 2024 to a high of 9.75% in the quarter ended Sep 30, 2025 over five years.
- On a year-over-year basis, Operating Margin increased in three of the last seven quarters, with an average year-over-year change of -0.54 percentage points.
- The strongest year-over-year quarter for Operating Margin in the past five years was the quarter ended Sep 30, 2024, with a gain of 3.15 percentage points; the weakest was the quarter ended Mar 31, 2022, with a drop of 3.62 percentage points.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 108.20 Bn | 104.30 Bn | - | - |
| 2 | Natera | 46.17 Bn | 41.80 Bn | 513.47 Mn | -8.60% |
| 3 | Labcorp Holdings | 29.69 Bn | 27.77 Bn | 1.11 Bn | 10.55% |
| 4 | Quest Diagnostics | 28.14 Bn | 25.91 Bn | 1.04 Bn | 15.47% |
| 5 | Tenet Healthcare | 23.04 Bn | 12.35 Bn | - | 31.08% |
| 6 | Guardant Health | 21.32 Bn | 16.94 Bn | 236.15 Mn | -36.78% |
| 7 | Tempus AI | 14.79 Bn | 11.95 Bn | 266.70 Mn | -13.82% |
| 8 | BrightSpring Health Services | 14.35 Bn | 12.11 Bn | 518.55 Mn | 3.81% |
| 9 | Encompass Health | 13.83 Bn | 13.46 Bn | - | - |
| 10 | Fresenius Medical Care AG | 6.62 Bn | -983.94 Mn | 1.47 Bn | 7.78% |
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 7.78% |
| Jun 30, 2026 | 9.58% |
| Mar 31, 2026 | 6.21% |
| Sep 30, 2025 | 9.75% |
| Jun 30, 2025 | 8.88% |
| Mar 31, 2025 | 6.79% |
| Dec 31, 2024 | 5.09% |
| Sep 30, 2024 | 9.72% |
| Jun 30, 2024 | 8.91% |
| Mar 31, 2024 | 5.21% |
| Dec 31, 2023 | 8.57% |
| Sep 30, 2023 | 6.57% |
| Jun 30, 2023 | 7.39% |
| Mar 31, 2023 | 5.55% |
| Dec 31, 2022 | 7.04% |
| Sep 30, 2022 | 9.25% |
| Jun 30, 2022 | 7.16% |
| Mar 31, 2022 | 7.64% |
| Dec 31, 2021 | 9.67% |
| Sep 30, 2021 | 11.36% |
Fresenius Medical Care AG Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=FMS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "FMS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=FMS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();