Filing Flows › Fresenius Medical Care AG (FMS) › Q4 2025 › vs Q3 2025
Fresenius Medical Care AG (FMS) Q4 2025 vs Q3 2025 (quarter over quarter)
Fresenius Medical Care AG's revenue rose $185M (+4%) from $4.9B in Q3 2025 to $5.1B in Q4 2025. Operating margin 11.7% against 9.8% (+2.0 pts).
Fresenius Medical Care AG, Q4 2025: revenue $5.1B (-0.3% year over year), operating margin 11.7%, net earnings $327M, operating cash flow $1.0B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q4 2025 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 11.7% | 9.8% | +2.0 pts |
| Net margin | 6.5% | 5.6% | +0.8 pts |
Every line
| Line | Q4 2025 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $5.1B | $4.9B | $185M | +4% |
| Operating profit | $594M | $477M | $117M | +25% |
| Costs & expenses | $4.5B | $4.4B | $67.4M | +2% |
| Pre-tax earnings | $508M | $403M | $106M | +26% |
| Other expense, net | $85.4M | $73.9M | $11.5M | +15% |
| Net earnings | $327M | $275M | $52.3M | +19% |
| Minority interests | $74.9M | $52.5M | $22.4M | +43% |
| Income tax | $106M | $75.2M | $31.2M | +41% |
| Depreciation & amortization | $361M | $358M | $2.4M | +0.7% |
| Working capital & other | $314M | $109M | $205M | +189% |
| Operating cash flow | $1.0B | $742M | $260M | +35% |
Questions
How much did Fresenius Medical Care AG's revenue grow quarter over quarter in Q4 2025?
Fresenius Medical Care AG's revenue rose $185M (+4%) from $4.9B in Q3 2025 to $5.1B in Q4 2025. Operating margin 11.7% against 9.8% (+2.0 pts).