Filing Flows › Fresenius Medical Care AG (FMS) › Q3 2025
Fresenius Medical Care AG (FMS) Q3 2025 earnings results (third quarter 2025)
6-K filed Nov 4, 2025
Fresenius Medical Care AG (FMS) reported revenue of $4.9B for the third quarter 2025 (Q3 2025), +3% from a year earlier and +2% from the quarter before. Operating margin was 9.8%, net earnings $275M (5.6% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.9B | +2% | +3% |
| Operating profit | $477M | +12% | +3% |
| Net earnings | $275M | +22% | +29% |
| Operating cash flow | $742M | — | — |
| Free cash flow | $549M | — | — |
What changed
Revenue was €4.9B in Q3 2025, up 3% year over year and up 2% from the previous quarter. Healthcare services was the largest line at 66% of revenue. Insurance contracts added €0.14B year over year (up 32%), 110% of the total change. Healthcare services declined 2%.
Operating profit was €0.48B, a 9.8% margin (unchanged year over year). Of the extra revenue versus a year earlier, 11% reached operating profit, above the 10% margin then. Total costs grew 3% against revenue growth of 3%. Net earnings were €0.27B, up 29% year over year. The effective tax rate was 18.7%.
Operating cash flow was €0.74B, 227% of net income including minority interests. Working capital and other items added €0.41B. Capital expenditures of €0.19B left free cash flow of €0.55B.
Questions
What was Fresenius Medical Care AG's revenue in the third quarter 2025?
Fresenius Medical Care AG (FMS) reported revenue of $4.9B for the third quarter 2025 (Q3 2025), +3% from a year earlier and +2% from the quarter before.
Was Fresenius Medical Care AG profitable in the third quarter 2025?
Operating profit was $477M (9.8% of revenue) and net earnings $275M.