Company Valuation: Fresenius Medical Care AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 16,742 8,970 11,138 12,957 11,384 10,654 - -
Change - -46.42% 24.17% 16.33% -12.14% -6.41% - -
Enterprise Value (EV) 1 28,580 20,909 21,898 22,760 20,580 19,469 19,343 18,727
Change - -26.84% 4.73% 3.94% -9.58% -5.4% -0.65% -3.18%
P/E Ratio 17.3x 13.3x 22.3x 24.1x 12.1x 13x 10.1x 8.75x
PBR 1.32x 0.64x 0.75x 0.82x 0.83x 0.82x 0.77x 0.74x
PEG - -0.4x -0.9x 3.15x 0.1x -1.4x 0.3x 0.6x
Capitalization / Revenue 0.95x 0.46x 0.57x 0.67x 0.58x 0.55x 0.53x 0.51x
EV / Revenue 1.62x 1.08x 1.13x 1.18x 1.05x 1x 0.96x 0.9x
EV / EBITDA 8.22x 6.24x 7.02x 7.26x 6.19x 5.61x 5.16x 4.78x
EV / EBIT 15.4x 13.8x 16x 16.4x 11.3x 10x 8.92x 8.03x
EV / FCF 17.2x 14.1x 11.2x 13.4x 11.5x 10.3x 11.4x 10.6x
FCF Yield 5.81% 7.08% 8.95% 7.47% 8.66% 9.66% 8.78% 9.39%
Dividend per Share 2 1.35 1.12 1.19 - 1.49 1.386 1.519 1.737
Rate of return 2.36% 3.66% 3.13% - 3.66% 3.49% 3.83% 4.38%
EPS 2 3.31 2.3 1.7 1.83 3.36 3.048 3.939 4.534
Distribution rate 40.8% 48.7% 70% - 44.3% 45.5% 38.6% 38.3%
Net sales 1 17,619 19,398 19,454 19,336 19,628 19,442 20,140 20,855
EBITDA 1 3,476 3,350 3,121 3,135 3,327 3,473 3,748 3,920
EBIT 1 1,852 1,512 1,369 1,392 1,827 1,942 2,169 2,333
Net income 1 969.3 673.4 499 538 978 836 1,071 1,219
Net Debt 1 11,838 11,939 10,760 9,803 9,196 8,815 8,689 8,073
Reference price 2 57.14 30.57 37.96 44.16 40.76 39.67 39.67 39.67
Nbr of stocks (in thousands) 292,994 293,413 293,413 293,413 279,289 268,565 - -
Announcement Date 2/22/22 2/21/23 2/20/24 2/25/25 2/24/26 - - -
1EUR in Million2EUR
Estimates

P/E Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.7x0.99x5.53x3.58% 11.98B
16.12x0.45x9.71x2.63% 128B
12.53x1.66x8.19x0.82% 83.97B
11.13x1.33x8.03x3.05% 24.18B
21.16x2.32x11.72x1.57% 22.56B
28.84x5.25x22.03x2.45% 19.82B
6.87x1.15x5.42x-.--% 14.92B
15.16x1.43x7.27x4.63% 14.54B
13.91x1.7x8.14x0.82% 13.09B
59.29x10.04x38.87x0.17% 10.26B
Average 19.77x 2.63x 12.49x 1.97% 34.35B
Weighted average by Cap. 16.60x 1.63x 10.44x 2%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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