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 11,199 - -
Change - -46.42% 24.17% 16.33% -12.14% -1.62% - -
Enterprise Value (EV) 1 28,580 20,909 21,898 22,760 20,580 20,147 20,040 19,473
Change - -26.84% 4.73% 3.94% -9.58% -2.1% -0.53% -2.83%
P/E 17.3x 13.3x 22.3x 24.1x 12.1x 14x 10.7x 9.32x
PBR 1.32x 0.64x 0.75x 0.82x 0.83x 0.87x 0.82x 0.78x
PEG - -0.4x -0.9x 3.15x 0.1x -1.4x 0.4x 0.6x
Capitalization / Revenue 0.95x 0.46x 0.57x 0.67x 0.58x 0.58x 0.56x 0.54x
EV / Revenue 1.62x 1.08x 1.13x 1.18x 1.05x 1.04x 0.99x 0.93x
EV / EBITDA 8.22x 6.24x 7.02x 7.26x 6.19x 5.8x 5.34x 4.96x
EV / EBIT 15.4x 13.8x 16x 16.4x 11.3x 10.4x 9.24x 8.33x
EV / FCF 17.2x 14.1x 11.2x 13.4x 11.5x 11.6x 11.8x 11.1x
FCF Yield 5.81% 7.08% 8.95% 7.47% 8.66% 8.61% 8.47% 9.03%
Dividend per Share 2 1.35 1.12 1.19 - 1.49 1.382 1.521 1.748
Rate of return 2.36% 3.66% 3.13% - 3.66% 3.28% 3.61% 4.15%
EPS 2 3.31 2.3 1.7 1.83 3.36 3.015 3.929 4.519
Distribution rate 40.8% 48.7% 70% - 44.3% 45.8% 38.7% 38.7%
Net sales 1 17,619 19,398 19,454 19,336 19,628 19,462 20,167 20,895
EBITDA 1 3,476 3,350 3,121 3,135 3,327 3,474 3,750 3,927
EBIT 1 1,852 1,512 1,369 1,392 1,827 1,942 2,169 2,338
Net income 1 969.3 673.4 499 538 978 839.2 1,068 1,215
Net Debt 1 11,838 11,939 10,760 9,803 9,196 8,948 8,841 8,274
Reference price 2 57.14 30.57 37.96 44.16 40.76 42.12 42.12 42.12
Nbr of stocks (in thousands) 292,994 293,413 293,413 293,413 279,289 265,882 - -
Announcement Date 22/2/22 21/2/23 20/2/24 25/2/25 24/2/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.06x1.04x5.82x3.26% 12.9B
16.94x0.47x10.12x2.5% 135B
12.06x1.62x8x0.85% 80.66B
12.26x1.42x8.57x2.77% 26.44B
21.43x2.34x11.82x1.56% 22.8B
29.16x5.37x22.66x2.39% 19.96B
7.28x1.19x5.61x-.--% 15.82B
16.05x1.5x7.66x4.37% 15.63B
15.9x1.83x8.77x0.72% 14.92B
55.23x9.25x34.89x0.19% 11.06B
Average 20.04x 2.60x 12.39x 1.86% 35.57B
Weighted average by Cap. 17.03x 1.62x 10.58x 1.93%

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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