Filing Flows › Fresenius Medical Care AG (FMS) › Q4 2025 › vs Q4 2024
Fresenius Medical Care AG (FMS) Q4 2025 vs Q4 2024 (year over year)
Fresenius Medical Care AG's revenue fell $15.2M (-0.3%) from $5.1B in Q4 2024 to $5.1B in Q4 2025. Operating margin 11.7% against 5.1% (+6.6 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 Q4 2024, the increases inside each band.
Margins
| Q4 2025 | Q4 2024 | Change | |
|---|---|---|---|
| Operating margin | 11.7% | 5.1% | +6.6 pts |
| Net margin | 6.5% | 1.3% | +5.1 pts |
Every line
| Line | Q4 2025 | Q4 2024 | Change | % |
|---|---|---|---|---|
| Revenue | $5.1B | $5.1B | −$15.2M | -0.3% |
| Operating profit | $594M | $259M | $335M | +129% |
| Costs & expenses | $4.5B | $4.8B | −$350M | -7% |
| Pre-tax earnings | $508M | $179M | $329M | +184% |
| Other expense, net | $85.4M | $79.8M | $5.6M | +7% |
| Net earnings | $327M | $66.9M | $260M | +389% |
| Minority interests | $74.9M | $51.2M | $23.7M | +46% |
| Income tax | $106M | $61.0M | $45.4M | +75% |
| Depreciation & amortization | $361M | $392M | −$31.4M | -8% |
| Working capital & other | $314M | $373M | −$58.8M | -16% |
| Operating cash flow | $1.0B | $832M | $170M | +20% |
Questions
How much did Fresenius Medical Care AG's revenue grow year over year in Q4 2025?
Fresenius Medical Care AG's revenue fell $15.2M (-0.3%) from $5.1B in Q4 2024 to $5.1B in Q4 2025. Operating margin 11.7% against 5.1% (+6.6 pts).