Fresenius Medical Care AG (FMS) Operating Margin (2009 - 2026)
Fresenius Medical Care AG (FMS) posted quarterly Operating Margin of 6.21% for Q1 2026, down 58.0% year-over-year from 14.77% in Q1 2025, and down 47.04% quarter-over-quarter from 11.72% in Q4 2025.
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Fresenius Medical Care AG (FMS) Operating Margin (2009 - 2026) Analysis & Trends
Fresenius Medical Care AG's Operating Margin history runs 18 years deep, the most recent figure standing at 6.21% for Q1 2026.
- In Q1 2026, Operating Margin fell 58.0% year-over-year to 6.21%; the TTM figure through Mar 2026 stood at 9.2% (up 160.0% YoY), while the FY2025 annual figure was 9.31%, up 211.0% from the prior year.
- Operating Margin for Q1 2026 stood at 6.21%, down from 11.72% in the prior quarter.
- The five-year high for Operating Margin was 46.03% in Q4 2022, with the low at 5.09% in Q4 2024.
- The 5-year median for Operating Margin is 8.91% (2024), against an average of 12.27%.
- The sharpest annual moves came in 2022 and 2024: Operating Margin surged 4349 bps in 2022, then sank 3065 bps in 2024.
- Fresenius Medical Care AG's Operating Margin stood at 46.03% in 2022, then declined by 22 bps to 35.75% in 2023, then slumped by 86 bps to 5.09% in 2024, then soared by 130 bps to 11.72% in 2025, then slumped by 47 bps to 6.21% in 2026.
- Business Quant data shows FMS's Operating Margin at 6.21% in Q1 2026, 11.72% in Q4 2025, and 9.75% in Q3 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 90.36 Bn | 89.35 Bn | 15.19 Bn | -12.60% |
| 2 | Tenet Healthcare | 22.02 Bn | 19.85 Bn | 4.45 Bn | 26.67% |
| 3 | Encompass Health | 12.13 Bn | 11.99 Bn | 1.34 Bn | 2.10% |
| 4 | Davita | 11.78 Bn | 11.09 Bn | 1.16 Bn | 16.29% |
| 5 | Universal Health Services | 10.09 Bn | 9.95 Bn | 3.29 Bn | 11.14% |
| 6 | Ensign | 9.97 Bn | 9.65 Bn | 306.24 Mn | 8.50% |
| 7 | Chemed | 6.93 Bn | 6.89 Bn | 221.47 Mn | 13.25% |
| 8 | Pacs | 6.81 Bn | 6.64 Bn | 338.46 Mn | 7.66% |
| 9 | Concentra Group Holdings Parent | 4.32 Bn | 4.16 Bn | 192.10 Mn | 18.99% |
| 10 | Fresenius Medical Care AG | 2.18 Bn | 494.41 Mn | 1.52 Bn | 9.58% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 9.58% |
| Mar 31, 2026 | 10.13% |
| Dec 31, 2025 | 11.21% |
| Sep 30, 2025 | 9.75% |
| Jun 30, 2025 | 8.88% |
| Mar 31, 2025 | 9.36% |
| Dec 31, 2024 | 35.34% |
| Sep 30, 2024 | 9.72% |
| Jun 30, 2024 | 9.15% |
| Mar 31, 2024 | 8.53% |
| Dec 31, 2023 | 35.75% |
| Sep 30, 2023 | 6.57% |
| Jun 30, 2023 | 7.39% |
| Mar 31, 2023 | 5.55% |
| Dec 31, 2022 | 36.36% |
| Sep 30, 2022 | 9.25% |
| Jun 30, 2022 | 7.16% |
| Mar 31, 2022 | 7.64% |
| Dec 31, 2021 | 41.21% |
| Sep 30, 2021 | 11.55% |