Fresenius Medical Care Expects Flat Revenue Growth in 2026
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 05 2026
0mins
In 2026, Fresenius Medical Care expects revenue growth to be broadly flat compared to prior year. The company expects operating income to remain on a consistent level, with a range between a positive and negative mid-single digit percent growth rate compared to prior year. The expected growth rates for 2026 are at constant currency and excluding special items in operating income. The 2025 basis for the revenue outlook is EUR19.628B and for the operating income outlook is EUR2.212B.
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Analyst Views on FMS
Wall Street analysts forecast FMS stock price to rise
2 Analyst Rating
0 Buy
1 Hold
1 Sell
Moderate Sell
Current: 22.500
Low
22.00
Averages
25.00
High
28.00
Current: 22.500
Low
22.00
Averages
25.00
High
28.00
About FMS
Fresenius Medical Care AG, formerly Fresenius Medical Care AG & Co. KGaA is a Germany-based kidney dialysis institute. The Company provides dialysis care and related services to persons suffering from end-stage renal disease (ESRD) and offers other extracorporeal therapies, as well as other healthcare services. It has two operating segments such as care delivery segment which consolidates the global health care services business and care enablement segment includes research and development (R&D), manufacturing, supply chain, and commercial operations. It develops and manufactures health care products, which includes dialysis and non-dialysis products. Such as hemodialysis machines, peritoneal cyclers, dialyzers, peritoneal solutions and granulates, bloodlines, renal pharmaceuticals, and systems for water treatment. Its non-dialysis products include acute cardiopulmonary and apheresis products. It owns, operates, or manages dialysis clinics sells products to other dialysis providers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Market Structural Shift: As Western governments intensify efforts to diversify battery mineral supply chains, China's share of global graphite production is projected to decline to below 30% by 2035, presenting strategic opportunities for Focus Graphite, particularly in the rapidly growing North American market.
- Technological Innovation: The company plans to incorporate AI-enabled in-situ graphite flake characterization technology in future resource updates, which is expected to accelerate and reduce the cost of analyzing flake size distribution, thereby enhancing pricing power and competitive advantage in the battery market.
- Environmental Impact Assessment: Dolomitic marble identified within the Lac Tetepisca project may offer acid buffering potential for future tailings storage facilities, with further metallurgical and environmental studies ongoing to ensure the project's sustainable development.
See More
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- Oversold Signal: Fresenius Medical Care's stock price fell to $20.02 per share on Tuesday, resulting in an RSI of 27.2, indicating an oversold condition that may attract bullish investors looking for buying opportunities.
- Market Comparison: In contrast, the current RSI of the S&P 500 ETF (SPY) stands at 71.6, highlighting the stark difference in market conditions and potentially drawing investor attention to FMS's situation.
- Historical Performance: FMS's 52-week low is $20.02, with a high of $30.46, and the last trade was at $20.19, indicating that the stock is hovering at a low level, which may present potential rebound opportunities for investors.
- Investor Sentiment: While the stock is currently at a low price, investors should carefully assess market sentiment and technical indicators to determine whether to enter at this time, avoiding further downside risks.
See More
Fresenius Medical Care Q1 2026 Financial Results
- Non-GAAP EPS: Fresenius Medical Care reported a non-GAAP EPS of €0.91 for Q1 2026, despite a 5.5% year-over-year revenue decline to €4.61 billion, indicating resilience in profitability amidst challenging conditions.
- Significant Cash Flow Growth: Operating cash flow surged by 39% to €227 million in Q1 2026, improving the margin from 3.3% in 2025 to 4.9%, reflecting enhanced cash management and operational efficiency.
- Substantial Free Cash Flow Increase: Free cash flow rose by 94% to €40 million in Q1 2026, with the margin increasing from 0.4% to 0.9%, providing greater flexibility for future investments and debt management.
- Slight Debt Increase: Total net debt and lease liabilities slightly increased to €9.79 billion from €9.753 billion in 2025; however, the company confirmed its outlook for 2026 revenue growth to remain broadly flat, demonstrating confidence in future performance.
See More
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- Market Reaction: European stocks are expected to open mostly lower on Tuesday as the fragile ceasefire between the U.S. and Iran appears close to collapse, with Germany's DAX and France's CAC 40 down 0.4% each, and Italy's FTSE MIB down 0.1%, indicating investor sensitivity to geopolitical risks.
- Oil Price Volatility: Oil prices surged on Monday as traders assessed Middle East developments, reflecting concerns over the potential for prolonged conflict to lead to a global recession, although prices declined overnight.
- U.S. Warning: President Trump warned Iran in a Fox News interview that it would be
See More
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- Earnings Announcement Date: Fresenius Medical Care is set to announce its Q1 2023 earnings on May 5 before market open, with consensus EPS estimate at €0.59, reflecting a significant 29.8% year-over-year decline, which could impact investor sentiment.
- Revenue Expectations: The revenue estimate for Q1 stands at €5.42 billion, representing an 11.0% year-over-year increase, indicating resilience in the company's market position despite the pressure on EPS.
- Historical Performance Review: Over the past two years, Fresenius has beaten EPS estimates 100% of the time and revenue estimates 88% of the time, showcasing the company's stability and reliability in financial performance.
- Estimate Revision Dynamics: In the last three months, EPS estimates saw one upward and one downward revision, while revenue estimates experienced no upward revisions and three downward adjustments, reflecting a cautious market outlook on the company's future performance.
See More
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- Product Background: Symvess received FDA approval in 2024 for extremity vascular trauma, and this move allows Humacyte to directly manage product development and regulatory matters in international markets.
- Financial Arrangement: Under the amended agreement, Humacyte will pay Fresenius low-single-digit royalties on overseas net sales after a two-year royalty-free period, supporting potential revenue growth for the company.
- Market Potential: The regained rights will enable Humacyte to respond more flexibly to international market demands, particularly in the Middle East, where it recently secured a $1.48 million purchase commitment for Symvess from Saudi Arabia, further enhancing its competitive position.
See More
