Fresenius Medical Care AG & Co. KGaA (FMS) Revenue History
Annual and quarterly revenue from 1998 to present
FMS Revenue Over Time (1998–2025)
FMS Revenue Growth History
22 of 27 years with positive growth- FY1998 revenue growth
- N/A
- FY1999 revenue growth
- +27.7%
- FY2000 revenue growth
- +17.2%
- FY2001 revenue growth
- +22.1%
- FY2002 revenue growth
- -11.3%
- FY2003 revenue growth
- -9.4%
- FY2004 revenue growth
- +4.7%
- FY2005 revenue growth
- +24.4%
- FY2006 revenue growth
- +12.6%
- FY2007 revenue growth
- +3.5%
- FY2008 revenue growth
- +14.3%
- FY2009 revenue growth
- +3.0%
- FY2010 revenue growth
- +15.4%
- FY2011 revenue growth
- +8.9%
- FY2012 revenue growth
- +5.7%
- FY2013 revenue growth
- +1.4%
- FY2014 revenue growth
- +23.1%
- FY2015 revenue growth
- +17.6%
- FY2016 revenue growth
- +11.2%
- FY2017 revenue growth
- +4.4%
- FY2018 revenue growth
- -7.0%
- FY2019 revenue growth
- +5.6%
- FY2020 revenue growth
- +2.2%
- FY2021 revenue growth
- -1.3%
- FY2022 revenue growth
- +10.1%
- FY2023 revenue growth
- +0.3%
- FY2024 revenue growth
- -0.6%
- FY2025 revenue growth
- +1.5%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $4.61B | -5.5% |
| Q4 2025 | $5.07B | -0.3% |
| Q3 2025 | $4.88B | +2.6% |
| Q2 2025 | $4.79B | +0.5% |
| Q1 2025 | $4.88B | +3.3% |
| Q4 2024 | $5.08B | +1.9% |
| Q3 2024 | $4.76B | -3.6% |
| Q2 2024 | $4.77B | -1.2% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
FMS's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
FMS Revenue Analysis (1998–2025)
Current Revenue & Growth
As of June 22, 2026, Fresenius Medical Care AG & Co. KGaA (FMS) generated trailing twelve-month (TTM) revenue of $19.36 billion, reflecting moderate decline in growth of -5.5% year-over-year. The most recent quarter (Q1 2026) recorded $4.61 billion in revenue, down 9.0% sequentially.
Historical Growth Trajectory
FMS's 5-year compound annual growth rate (CAGR) stands at +1.9%, indicating moderate growth over time. The 3-year CAGR of +0.4% is below the 5-year average, signalling a growth deceleration in recent years. Fresenius Medical Care AG & Co. KGaA's highest annual revenue of $19.63 billion was recorded in 2025, an all-time high.
Revenue by Segment
FMS's revenue is primarily driven by Health Care Services (75%), and Health Care Products (25%). With over half of revenue concentrated in Health Care Services, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Healthcare sector peers — including DVA (+6.7% YoY), FXNC, and NKTR (-36.2% YoY) — FMS has outperformed the peer group in revenue growth. Compare FMS vs DVA →
FMS Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| FMSCurrent | $19.4B | -5.5% | +1.9% | 9.3% | |
 DVA | $13.6B | +6.7% | +3.4% | 14.7% | |
 FXNC | $112M | - | - | 19.6% | |
 NKTR | $55M | -36.2% | -18.4% | -236.8% | |
 BAX | $11.2B | +5.1% | -0.7% | -2.7% |
FMS Historical Revenue Data (1998–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $19.63B | +1.5% | $5.03B | 25.6% | $1.83B | 9.3% |
| 2024 | $19.34B | -0.6% | $4.76B | 24.6% | $1.39B | 7.2% |
| 2023 | $19.45B | +0.3% | $4.93B | 25.3% | $1.37B | 7.0% |
| 2022 | $19.40B | +10.1% | $4.89B | 25.2% | $1.51B | 7.8% |
| 2021 | $17.62B | -1.3% | $4.77B | 27.1% | $1.85B | 10.5% |
| 2020 | $17.86B | +2.2% | $5.54B | 31.0% | $2.30B | 12.9% |
| 2019 | $17.48B | +5.6% | $5.40B | 30.9% | $2.27B | 13.0% |
| 2018 | $16.55B | -7.0% | $5.16B | 31.2% | $3.04B | 18.4% |
| 2017 | $17.78B | +4.4% | $6.00B | 33.8% | $2.36B | 13.3% |
| 2016 | $17.03B | +11.2% | $5.50B | 32.3% | $2.51B | 14.7% |
| 2015 | $15.31B | +17.6% | $4.88B | 31.8% | $2.13B | 13.9% |
| 2014 | $13.02B | +23.1% | $4.11B | 31.6% | $1.85B | 14.2% |
| 2013 | $10.58B | +1.4% | $3.43B | 32.4% | $1.63B | 15.4% |
| 2012 | $10.43B | +5.7% | $3.48B | 33.3% | $1.68B | 16.1% |
| 2011 | $9.87B | +8.9% | $3.49B | 35.3% | $1.60B | 16.2% |
Full Stock Analysis
Deep dive into FMS consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
28+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
FMS — Frequently Asked Questions
Quick answers to the most common questions about buying FMS stock.
Is FMS's revenue growth accelerating or slowing?
FMS revenue is declining -5.5% year-over-year. TTM revenue fell to $19.4B, contrasting with the 5-year CAGR of +1.9%. The reversal reflects either macro headwinds or company-specific challenges.
What is FMS's revenue history from 1998 to 2026?
Fresenius Medical Care AG & Co. KGaA (FMS) revenue history spans 1998 to 2026. TTM revenue as of 2026 is $19.4B, growing at -5.5% YoY. The 5-year CAGR is +1.9%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is FMS's long-term revenue growth rate (CAGR)?
Fresenius Medical Care AG & Co. KGaA's 5-year revenue CAGR of +1.9% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -5.5% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for FMS.
Why does FMS's quarterly revenue fluctuate?
FMS quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Fresenius Medical Care AG & Co. KGaA's revenue data from 1998 to 2026 shows full historical quarterly detail on this page.
How is FMS's revenue distributed by segment?
FMS reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does FMS's revenue compare to industry peers?
Fresenius Medical Care AG & Co. KGaA (FMS) with TTM revenue of $19.4B and -5.5% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.