Fresenius Medical Care AG (FMS)
NYSE: FMS · Real-Time Price · USD
22.74
-0.21 (-0.92%)
At close: Nov 10, 2026, 4:00 PM EST
22.74
0.00 (0.00%)
After-hours: Nov 10, 2026, 4:10 PM EST
Fresenius Medical Care AG Cash Flow Statement
Financials in millions EUR. Fiscal year is January - December.
Millions EUR. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 822.76 | 978.37 | 537.91 | 499 | 673.41 | 969.31 |
Depreciation & Amortization | 1,364 | 1,400 | 1,483 | 1,613 | 1,720 | 1,585 |
Other Amortization | 63.24 | 63.24 | 52.7 | - | - | - |
Loss (Gain) From Sale of Assets | 15.41 | 123.24 | -12.17 | -12.9 | -99.27 | 44.09 |
Asset Writedown & Restructuring Costs | 205.18 | 37 | 206.72 | 139.24 | 118.23 | 38.31 |
Loss (Gain) on Equity Investments | -59.92 | -181.37 | -134.88 | -121.79 | -66.56 | -92.18 |
Other Operating Activities | 58.39 | 122.12 | -191.3 | -48.76 | -50.5 | 42.37 |
Change in Accounts Receivable | 18.31 | -69.06 | -73.48 | -151.84 | -46.68 | -163.2 |
Change in Inventory | -308.25 | -248.66 | 107.9 | -13.14 | -204.31 | -48.53 |
Change in Accounts Payable | 233.56 | 12.45 | 155.59 | 108.48 | -356.79 | -363.96 |
Change in Income Taxes | 366.78 | 236.61 | 482.27 | 472.08 | 325.68 | 313.71 |
Change in Other Net Operating Assets | 106.77 | 206.9 | -227.97 | 145.7 | 154.03 | 164.2 |
Operating Cash Flow | 2,886 | 2,681 | 2,386 | 2,629 | 2,167 | 2,489 |
Operating Cash Flow Growth | 14.95% | 12.36% | -9.23% | 21.29% | -12.94% | -41.19% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -1,091 | -915.37 | -699.36 | -684.6 | -723.99 | -854.36 |
Sale of Property, Plant & Equipment | 17.51 | 16.7 | 14.1 | 16.14 | 36.21 | 24.42 |
Cash Acquisitions | -14.75 | -15.3 | -0.18 | -3.14 | 10.53 | -324.81 |
Divestitures | 61.39 | 202.14 | 629.75 | 172.2 | 60.16 | 52.44 |
Sale (Purchase) of Intangibles | -4.67 | -4.67 | -8.54 | -26.37 | -46.35 | -32.36 |
Investment in Securities | -36.38 | -6.03 | -20.71 | -18.46 | -71.28 | -61.58 |
Investing Cash Flow | -1,068 | -722.53 | -84.94 | -544.23 | -734.73 | -1,196 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | - | 156.46 | 84.81 | 65.34 | 717.09 | 1,804 |
Long-Term Debt Issued | - | 1,623 | 61.51 | 417.88 | 1,082 | 1,244 |
Total Debt Issued | 1,225 | 1,779 | 146.33 | 483.21 | 1,799 | 3,048 |
Short-Term Debt Repaid | - | -140.81 | -540.5 | -244.98 | -1,302 | -627.25 |
Long-Term Debt Repaid | - | -1,489 | -1,534 | -1,497 | -1,520 | -2,780 |
Lease Payments | -624.69 | -649.04 | -676.51 | -727.37 | -775.15 | -696.95 |
Total Debt Repaid | -1,304 | -1,629 | -2,075 | -1,742 | -2,822 | -3,407 |
Net Debt Issued (Repaid) | -79.29 | 149.58 | -1,928 | -1,259 | -1,023 | -358.9 |
Issuance of Common Stock | - | - | - | - | 20.15 | 6.51 |
Repurchase of Common Stock | -1,210 | -585.29 | - | - | - | - |
Common Dividends Paid | -400.16 | -422.52 | -349.16 | -328.62 | -395.56 | -392.46 |
Other Financing Activities | -288.8 | -544.99 | -291.89 | -270.75 | -218.91 | -279.54 |
Financing Cash Flow | -1,979 | -1,403 | -2,569 | -1,859 | -1,617 | -1,024 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | 3.75 | -141.48 | 26.2 | -72.61 | -23.16 | 131.23 |
Net Cash Flow | -156.73 | 413.79 | -241.9 | 153.44 | -207.87 | 400.12 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 1,795 | 1,766 | 1,687 | 1,944 | 1,443 | 1,635 |
Free Cash Flow Growth | 0.96% | 4.67% | -13.24% | 34.70% | -11.73% | -48.60% |
Free Cash Flow Margin | 9.21% | 9.00% | 8.72% | 9.99% | 7.44% | 9.28% |
Free Cash Flow Per Share | 6.57 | 6.06 | 5.75 | 6.63 | 4.92 | 5.58 |
Levered Free Cash Flow | 1,493 | 1,556 | 2,031 | 1,312 | 1,023 | 1,697 |
Unlevered Free Cash Flow | 1,735 | 1,797 | 2,286 | 1,578 | 1,248 | 1,918 |
Free Cash Flow After Leases | 1,170 | 1,117 | 1,010 | 1,217 | 668.24 | 938.18 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 354.68 | 359.98 | 381.23 | 394.54 | 350.68 | 341.63 |
Cash Income Tax Paid | 247.4 | 225.75 | 444.59 | 410.13 | 334.62 | 345.05 |
Change in Working Capital | 417.17 | 138.24 | 444.31 | 561.28 | -128.07 | -97.77 |