Filing Flows › Fresenius Medical Care AG (FMS) › Q3 2025 › vs Q3 2024
Fresenius Medical Care AG (FMS) Q3 2025 vs Q3 2024 (year over year)
Fresenius Medical Care AG's revenue rose $125M (+3%) from $4.8B in Q3 2024 to $4.9B in Q3 2025. The biggest changes: Insurance contracts +$138M (+32%); Healthcare services −$73.0M (-2%); Healthcare products +$60.0M (+6%). Operating margin 9.8% against 9.7% (+0.0 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 Q3 2024, the increases inside each band.
Margins
| Q3 2025 | Q3 2024 | Change | |
|---|---|---|---|
| Operating margin | 9.8% | 9.7% | +0.0 pts |
| Net margin | 5.6% | 4.5% | +1.2 pts |
Every line
| Line | Q3 2025 | Q3 2024 | Change | % |
|---|---|---|---|---|
| Healthcare services | $3.2B | $3.3B | −$73.0M | -2% |
| Healthcare products | $1.1B | $1.0B | $60.0M | +6% |
| Insurance contracts | $568M | $430M | $138M | +32% |
| Revenue | $4.9B | $4.8B | $125M | +3% |
| Operating profit | $477M | $463M | $13.8M | +3% |
| Costs & expenses | $4.4B | $4.3B | $111M | +3% |
| Pre-tax earnings | $403M | $381M | $22.0M | +6% |
| Other expense, net | $73.9M | $82.2M | −$8.2M | -10% |
| Net earnings | $275M | $213M | $61.8M | +29% |
| Minority interests | $52.5M | $51.0M | $1.6M | +3% |
| Income tax | $75.2M | $117M | −$41.3M | -35% |
| Depreciation & amortization | $358M | $372M | −$13.9M | -4% |
| Working capital & other | $109M | $400M | −$291M | -73% |
| Operating cash flow | $742M | $985M | −$243M | -25% |
Questions
How much did Fresenius Medical Care AG's revenue grow year over year in Q3 2025?
Fresenius Medical Care AG's revenue rose $125M (+3%) from $4.8B in Q3 2024 to $4.9B in Q3 2025.
What drove Fresenius Medical Care AG's revenue change in Q3 2025?
Insurance contracts +$138M (+32%); Healthcare services −$73.0M (-2%); Healthcare products +$60.0M (+6%).