Filing Flows › Fresenius Medical Care AG (FMS) › Q3 2025 › vs Q2 2025
Fresenius Medical Care AG (FMS) Q3 2025 vs Q2 2025 (quarter over quarter)
Fresenius Medical Care AG's revenue rose $93.1M (+2%) from $4.8B in Q2 2025 to $4.9B in Q3 2025. The biggest changes: Insurance contracts +$79.3M (+16%); Healthcare products +$19.5M (+2%); Healthcare services −$5.7M (-0.2%). Operating margin 9.8% against 8.9% (+0.9 pts).
Fresenius Medical Care AG, Q3 2025: revenue $4.9B (+3% year over year), operating margin 9.8%, net earnings $275M, operating cash flow $742M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q3 2025 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 9.8% | 8.9% | +0.9 pts |
| Net margin | 5.6% | 4.7% | +0.9 pts |
Every line
| Line | Q3 2025 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Healthcare services | $3.2B | $3.2B | −$5.7M | -0.2% |
| Healthcare products | $1.1B | $1.1B | $19.5M | +2% |
| Insurance contracts | $568M | $488M | $79.3M | +16% |
| Revenue | $4.9B | $4.8B | $93.1M | +2% |
| Operating profit | $477M | $425M | $51.2M | +12% |
| Costs & expenses | $4.4B | $4.4B | $41.9M | +1% |
| Pre-tax earnings | $403M | $351M | $52.0M | +15% |
| Other expense, net | $73.9M | $74.7M | −$792K | -1% |
| Net earnings | $275M | $225M | $49.5M | +22% |
| Minority interests | $52.5M | $47.0M | $5.5M | +12% |
| Income tax | $75.2M | $78.3M | −$3.0M | -4% |
| Depreciation & amortization | $358M | $362M | −$3.8M | -1% |
| Working capital & other | $109M | $188M | −$79.1M | -42% |
| Operating cash flow | $742M | $775M | −$33.4M | -4% |
Questions
How much did Fresenius Medical Care AG's revenue grow quarter over quarter in Q3 2025?
Fresenius Medical Care AG's revenue rose $93.1M (+2%) from $4.8B in Q2 2025 to $4.9B in Q3 2025.
What drove Fresenius Medical Care AG's revenue change in Q3 2025?
Insurance contracts +$79.3M (+16%); Healthcare products +$19.5M (+2%); Healthcare services −$5.7M (-0.2%).