Comprehensive Stock Comparison
Compare Enhabit, Inc. (EHAB) vs Fresenius Medical Care AG & Co. KGaA (FMS) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | FMS | 1.5% revenue growth vs EHAB's -1.1% |
| Value | FMS | Lower P/E (9.9x vs 22.5x) |
| Quality / Margins | FMS | 5.0% net margin vs EHAB's -1.1% |
| Stability / Safety | FMS | Beta 0.40 vs EHAB's 0.56, lower leverage |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | EHAB | +62.6% vs FMS's +0.2% |
| Efficiency (ROA) | FMS | 3.2% ROA vs EHAB's -1.0%, ROIC 5.6% vs -7.3% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Enhabit operates a network of home health and hospice care agencies across the United States, providing skilled nursing, therapy services, and end-of-life care to patients in their homes. The company generates revenue primarily from Medicare reimbursements — which account for the vast majority of its income — along with payments from Medicaid, private insurers, and patients. Its competitive advantage lies in its extensive geographic footprint across 34 states, which creates referral network effects and operational scale in a fragmented industry.
Fresenius Medical Care is a global leader in dialysis care and products for patients with chronic kidney failure. It generates revenue through two main segments: dialysis services (about 75% of revenue) from its network of outpatient clinics and hospital contracts, and dialysis products (about 25%) including machines, dialyzers, and related supplies. The company's key advantage is its vertically integrated model—combining clinics, products, and services—which creates patient stickiness and economies of scale in the capital-intensive dialysis industry.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
FMS leads in 5 of 6 categories — strongest in Financial Metrics and Valuation Metrics. 1 category is tied.
Financial Metrics (TTM)
FMS is the larger business by revenue, generating $19.6B annually — 18.7x EHAB's $1.0B. FMS is the more profitable business, keeping 5.0% of every revenue dollar as net income compared to EHAB's -1.1%. On growth, EHAB holds the edge at +3.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | EHABEnhabit, Inc. | FMSFresenius Medical… |
|---|---|---|
| RevenueTrailing 12 months | $1.0B | $19.6B |
| EBITDAEarnings before interest/tax | $34M | $3.3B |
| Net IncomeAfter-tax profit | -$12M | $978M |
| Free Cash FlowCash after capex | $58M | $1.2B |
| Gross MarginGross profit ÷ Revenue | +48.4% | +25.6% |
| Operating MarginEBIT ÷ Revenue | +0.8% | +9.3% |
| Net MarginNet income ÷ Revenue | -1.1% | +5.0% |
| FCF MarginFCF ÷ Revenue | +5.5% | +6.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | +3.9% | -0.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +110.0% | +8.5% |
Valuation Metrics
| Metric | EHABEnhabit, Inc. | FMSFresenius Medical… |
|---|---|---|
| Market CapShares × price | $686M | $13.6B |
| Enterprise ValueMkt cap + debt − cash | $1.2B | $24.4B |
| Trailing P/EPrice ÷ TTM EPS | -4.38x | 11.84x |
| Forward P/EPrice ÷ next-FY EPS est. | 22.50x | 9.89x |
| PEG RatioP/E ÷ EPS growth rate | — | 2.32x |
| EV / EBITDAEnterprise value multiple | — | 6.33x |
| Price / SalesMarket cap ÷ Revenue | 0.66x | 0.59x |
| Price / BookPrice ÷ Book value/share | 1.23x | 0.81x |
| Price / FCFMarket cap ÷ FCF | 14.47x | — |
Profitability & Efficiency
FMS delivers a 6.8% return on equity — every $100 of shareholder capital generates $7 in annual profit, vs $-2 for EHAB. FMS carries lower financial leverage with a 0.76x debt-to-equity ratio, signaling a more conservative balance sheet compared to EHAB's 1.03x. On the Piotroski fundamental quality scale (0–9), FMS scores 5/9 vs EHAB's 4/9, reflecting solid financial health.
| Metric | EHABEnhabit, Inc. | FMSFresenius Medical… |
|---|---|---|
| ROE (TTM)Return on equity | -2.0% | +6.8% |
| ROA (TTM)Return on assets | -1.0% | +3.2% |
| ROICReturn on invested capital | -7.3% | +5.6% |
| ROCEReturn on capital employed | -9.6% | +6.9% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 5 |
| Debt / EquityFinancial leverage | 1.03x | 0.76x |
| Net DebtTotal debt minus cash | $541M | $9.2B |
| Cash & Equiv.Liquid assets | $28M | $1.6B |
| Total DebtShort + long-term debt | $570M | $10.8B |
| Interest CoverageEBIT ÷ Interest expense | 0.93x | 6.84x |
Total Returns (with DRIP)
A $10,000 investment in FMS five years ago would be worth $7,718 today (with dividends reinvested), compared to $5,444 for EHAB. Over the past 12 months, EHAB leads with a +62.6% total return vs FMS's +0.2%. The 3-year compound annual growth rate (CAGR) favors FMS at 9.1% vs EHAB's -3.9% — a key indicator of consistent wealth creation.
| Metric | EHABEnhabit, Inc. | FMSFresenius Medical… |
|---|---|---|
| YTD ReturnYear-to-date | +49.7% | -0.2% |
| 1-Year ReturnPast 12 months | +62.6% | +0.2% |
| 3-Year ReturnCumulative with dividends | -11.3% | +29.7% |
| 5-Year ReturnCumulative with dividends | -45.6% | -22.8% |
| 10-Year ReturnCumulative with dividends | -45.6% | -28.5% |
| CAGR (3Y)Annualised 3-year return | -3.9% | +9.1% |
Risk & Volatility
FMS is the less volatile stock with a 0.40 beta — it tends to amplify market swings less than EHAB's 0.56 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. EHAB currently trades 99.8% from its 52-week high vs FMS's 77.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | EHABEnhabit, Inc. | FMSFresenius Medical… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.56x | 0.40x |
| 52-Week HighHighest price in past year | $13.64 | $30.46 |
| 52-Week LowLowest price in past year | $6.47 | $20.95 |
| % of 52W HighCurrent price vs 52-week peak | +99.8% | +77.0% |
| RSI (14)Momentum oscillator 0–100 | 84.1 | 49.0 |
| Avg Volume (50D)Average daily shares traded | 419K | 518K |
Analyst Outlook
Wall Street rates EHAB as "Hold" and FMS as "Hold". Consensus price targets imply 19.4% upside for FMS (target: $28) vs -0.6% for EHAB (target: $14).
| Metric | EHABEnhabit, Inc. | FMSFresenius Medical… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $13.53 | $28.00 |
| # AnalystsCovering analysts | 11 | 18 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 0 | 3 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Jun 22 | Feb 26 | Change |
|---|---|---|---|
| Enhabit, Inc. (EHAB) | 100 | 43.08 | -56.9% |
| Fresenius Medical C… (FMS) | 100 | 90 | -10.0% |
Fresenius Medical C… (FMS) returned -23% over 5 years vs Enhabit, Inc. (EHAB)'s -46%.
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Enhabit, Inc. (EHAB) | $1.1B | $1.0B | -4.0% |
| Fresenius Medical C… (FMS) | $17.0B | $19.6B | +15.3% |
Fresenius Medical Care AG & Co. KGaA's revenue grew from $17.0B (2016) to $19.6B (2025) — a 1.6% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Enhabit, Inc. (EHAB) | 7.0% | -15.1% | -317.0% |
| Fresenius Medical C… (FMS) | 6.9% | 5.0% | -28.2% |
Fresenius Medical Care AG & Co. KGaA's net margin went from 7% (2016) to 5% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Fresenius Medical C… (FMS) | 25.3 | 14.2 | -43.9% |
Fresenius Medical Care AG & Co. KGaA has traded in a 10x–39x P/E range over 9 years; current trailing P/E is ~12x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Enhabit, Inc. (EHAB) | 19.23 | -3.11 | -116.2% |
| Fresenius Medical C… (FMS) | 1.87 | 1.68 | -10.2% |
Fresenius Medical Care AG & Co. KGaA's EPS grew from $1.87 (2016) to $1.68 (2025) — a -1% CAGR.
Chart 6Free Cash Flow — 5 Years
Enhabit, Inc. generated $47M FCF in 2024 (-60% vs 2021). Fresenius Medical Care AG & Co. KGaA generated $0M FCF in 2025 (-100% vs 2021).
EHAB vs FMS: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is EHAB or FMS a better buy right now?
Fresenius Medical Care AG & Co. KGaA (FMS) offers the better valuation at 11.8x trailing P/E (9.9x forward), making it the more compelling value choice. Analysts rate Enhabit, Inc. (EHAB) a "Hold" — based on 11 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — EHAB or FMS?
On forward P/E, Fresenius Medical Care AG & Co. KGaA is actually cheaper at 9.9x.
03Which is the better long-term investment — EHAB or FMS?
Over the past 5 years, Fresenius Medical Care AG & Co. KGaA (FMS) delivered a total return of -22.8%, compared to -45.6% for Enhabit, Inc. (EHAB). A $10,000 investment in FMS five years ago would be worth approximately $8K today (assuming dividends reinvested). Over 10 years, the gap is even starker: FMS returned -28.5% versus EHAB's -45.6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — EHAB or FMS?
By beta (market sensitivity over 5 years), Fresenius Medical Care AG & Co. KGaA (FMS) is the lower-risk stock at 0.40β versus Enhabit, Inc.'s 0.56β — meaning EHAB is approximately 41% more volatile than FMS relative to the S&P 500. On balance sheet safety, Fresenius Medical Care AG & Co. KGaA (FMS) carries a lower debt/equity ratio of 76% versus 103% for Enhabit, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — EHAB or FMS?
Fresenius Medical Care AG & Co. KGaA (FMS) is the more profitable company, earning 5.0% net margin versus -15.1% for Enhabit, Inc. — meaning it keeps 5.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: FMS leads at 9.3% versus -11.1% for EHAB. At the gross margin level — before operating expenses — EHAB leads at 48.7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is EHAB or FMS more undervalued right now?
On forward earnings alone, Fresenius Medical Care AG & Co. KGaA (FMS) trades at 9.9x forward P/E versus 22.5x for Enhabit, Inc. — 12.6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for FMS: 19.4% to $28.00.
07Which pays a better dividend — EHAB or FMS?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is EHAB or FMS better for a retirement portfolio?
For long-horizon retirement investors, Fresenius Medical Care AG & Co. KGaA (FMS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.40)). Both have compounded well over 10 years (FMS: -28.5%, EHAB: -45.6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between EHAB and FMS?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: EHAB is a small-cap quality compounder stock; FMS is a mid-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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