Care Delivery was Fresenius Medical Care AG’s largest segment in fiscal 2025, bringing in $13.74B of $19.63B (70%).
| Segments [axis] | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Care Delivery | $15.59B | $14.75B | $14.00B | $13.74B | |||||||
| North America | — | — | — | — | |||||||
| Care Enablement | $5.35B | $5.35B | $5.56B | $5.48B | |||||||
| Emea | — | — | — | — | |||||||
| Value-Based Care | — | $1.28B | $1.75B | $2.25B | |||||||
| Asia-Pacific | — | — | — | — | |||||||
| Asia Pacific | — | — | — | — | |||||||
| Latin America | — | — | — | — | |||||||
| Corporate | — | — | — | — | |||||||
| Inter-Segment Eliminations | -$1.55B | -$1.92B | -$1.98B | -$1.83B | |||||||
| Total | $19.40B | $19.45B | $19.34B | $19.63B |
Fresenius Medical Care AG brought in $19.63B from its four segments in fiscal 2025, the year ended December 31, 2025. That was up 1.5% from $19.34B in fiscal 2024. Care Delivery was the largest at $13.74B (70.0%), ahead of Care Enablement at $5.48B (27.9%) and Value-Based Care at $2.25B (11.5%).
Compared with fiscal 2024, Value-Based Care grew fastest, up 28.2% to $2.25B, while Care Delivery fell the most, down 1.9% to $13.74B.
Fresenius Medical Care AG began breaking out Value-Based Care in fiscal 2023, when it brought in $1.28B. The total is net of Inter-Segment Eliminations, which took $1.83B off revenue in fiscal 2025.
Healthcare Services was Fresenius Medical Care AG’s largest revenue line in fiscal 2025, bringing in $13.10B of $19.63B (67%).
| Products and services [axis] | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Healthcare Services | — | $14.17B | $13.47B | $13.10B | |
| Health Care Services | $15.42B | — | — | — | |
| Healthcare Products | — | $4.06B | $4.25B | $4.41B | |
| Health Care Products | $3.98B | — | — | — | |
| Insurance Contracts | — | $1.23B | $1.61B | $2.12B | |
| Total | $19.40B | $19.45B | $19.34B | $19.63B |
Fresenius Medical Care AG brought in $19.63B from its three revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 1.5% from $19.34B in fiscal 2024. Healthcare Services was the largest at $13.10B (66.7%), ahead of Healthcare Products at $4.41B (22.5%) and Insurance Contracts at $2.12B (10.8%).
Compared with fiscal 2024, Insurance Contracts grew fastest, up 31.1% to $2.12B, while Healthcare Services fell the most, down 2.8% to $13.10B.
Fresenius Medical Care AG began breaking out Healthcare Services in fiscal 2023, Healthcare Products in fiscal 2023 and Insurance Contracts in fiscal 2023. Fresenius Medical Care AG stopped reporting Health Care Services ($15.42B in fiscal 2022) and Health Care Products ($3.98B in fiscal 2022) as separate revenue lines.
Rest Of The World was Fresenius Medical Care AG’s largest region in fiscal 2025, bringing in $19.13B of $19.63B (97%).
| Geography | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Rest Of The World | $5.53B | $18.97B | $18.86B | $19.13B | |||||
| United States | $13.38B | — | — | — | |||||
| North America | — | — | — | — | |||||
| Germany | $487.28M | $484.24M | $478.96M | $494.57M | |||||
| Total | $19.40B | $19.45B | $19.34B | $19.63B |
Fresenius Medical Care AG brought in $19.63B from its two regions in fiscal 2025, the year ended December 31, 2025. That was up 1.5% from $19.34B in fiscal 2024. Rest Of The World was the largest at $19.13B (97.5%), ahead of Germany at $494.57M (2.5%).
Compared with fiscal 2024, Germany grew 3.3% to $494.57M and Rest Of The World grew 1.5% to $19.13B.
Fresenius Medical Care AG stopped reporting United States as a separate region after fiscal 2022, when it brought in $13.38B.
Fresenius Medical Care AG (FMS) reports its revenue by segments [axis], by products and services [axis] and by geography. In fiscal 2025, Care Delivery was its largest segment, bringing in $13.74B (70.0% of the total), followed by Care Enablement at $5.48B (27.9%).
Care Delivery was Fresenius Medical Care AG's largest segment in fiscal 2025, bringing in $13.74B, or 70.0% of the $19.63B total across its four segments.
Healthcare Services was Fresenius Medical Care AG's largest revenue line in fiscal 2025, bringing in $13.10B, or 66.7% of the $19.63B total across its three revenue lines.
Rest Of The World was Fresenius Medical Care AG's largest region in fiscal 2025, bringing in $19.13B, or 97.5% of the $19.63B total across its two regions.
Among Fresenius Medical Care AG's segments that make up at least 2% of revenue, Value-Based Care grew fastest in fiscal 2025, up 28.2% from $1.75B to $2.25B.
Every figure comes from Fresenius Medical Care AG's annual financial filings, as reported. Each line keeps the name Fresenius Medical Care AG gives it, and years follow its fiscal calendar.
Fresenius Medical Care AG's revenue by segments [axis] goes back to fiscal 2015, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.