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Fresenius Medical Care AG vs Progyny: FMS and PGNY compared
Fresenius Medical Care AG is the larger company: $9.9B of revenue in its latest quarter (Q3 2026) against $341M for Progyny (Q3 2026). Progyny is growing faster (+9% against +1% a year earlier). Progyny is more profitable, with an operating margin of 10.3% against 3.9%.
Where the money goes: FMS and PGNY
Fresenius Medical Care AG (FMS) · Q3 2026
Fresenius Medical Care AG, Q3 2026: revenue $9.9B (+1% year over year), operating margin 3.9%, net earnings $160M. The chart follows the revenue to costs, profit and cash.
Progyny (PGNY) · Q3 2026
Progyny, Q3 2026: revenue $341M (+9% year over year), operating margin 10.3%, net earnings $26.3M, operating cash flow $56.6M. The chart follows the revenue to costs, profit and cash.
| Fresenius Medical Care AG (FMS) | Progyny (PGNY) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $9.9B | $341M |
| Revenue growth, Y/Y | +1% | +9% |
| Gross margin | — | 24.5% |
| Operating margin | 3.9% | 10.3% |
| Net earnings | $160M | $26.3M |
| Net margin | 1.6% | 7.7% |
| Operating cash flow | — | $56.6M |
| Free cash flow | — | $47.2M |
| Market value | — | $2.8B |
| P/E | — | 31.1× |
| Analysts’ mean target | — | $34.83 |
Where the revenue comes from
Fresenius Medical Care AG
- 2 a), 14: $4.9B (50%)
- Healthcare services: $3.3B (34%)
- Healthcare products: $1.1B (11%)
- Insurance contracts: $504M (5%)
Progyny
- Fertility benefits services revenue: $223M (65%)
- Pharmacy benefits services revenue: $118M (35%)
Questions
Which is bigger, Fresenius Medical Care AG or Progyny?
Fresenius Medical Care AG is the larger company: $9.9B of revenue in its latest quarter (Q3 2026) against $341M for Progyny (Q3 2026).
Is Fresenius Medical Care AG or Progyny growing faster?
Progyny is growing faster (+9% against +1% a year earlier).
Which is more profitable, Fresenius Medical Care AG or Progyny?
Progyny is more profitable, with an operating margin of 10.3% against 3.9%.
More: Fresenius Medical Care AG earnings · how Fresenius Medical Care AG makes money · Progyny earnings · how Progyny makes money
From the companies' latest 10-Q, 10-K or earnings release (6-K filed Nov 3, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.