Last updated
Revenue
R&D Expenses
Operating CF
Total Assets
Total Liabilities
Equity
Shares Out.
D/E Ratio
Dilution Watch
Financials
52W LOW $20.0252W HIGH $27.16
Volume
685.00 K
Value Traded
17.84 M
Short % Float
0.74%
Days to Cover
3.5
-0.82%Week
+0.51%1 Month
-12.33%3 Month
+0.02%6 Month
Cash Data
- Monthly Burn
- Burn Trend
- Dilution Risk
- SEC Filing
Key Stats
Market Cap
11.04 B
EPS (TTM)
1.92
P/E Ratio
11.71
Ent. Value
25.53 B
Total Shares
490.48 M
Float Shares
532.21 M
Insiders
0.00%
Institutions
8.09%
Upcoming Catalysts
FDA decisions, readouts and PDUFA dates · scored by probability of approval
| Catalyst | Drug / Treatment | Stage | Prob. of Approval | Description | Drug Type | Therapeutic Area | Source |
|---|---|---|---|---|---|---|---|
PDUFA 2026 | Example Drug Treatment for example condition requiring FDA review | Phase 3 | Small Molecule | Oncology | - |
PoA blends historical approval base rates, trial design score and FDA review track record.
FMS Catalyst Timeline
Dated clinical, regulatory and corporate events for Fresenius Medical Care AG
Catalyst Timeline
Dated clinical, regulatory & corporate events for Fresenius Medical Care AG
322Total events
8Upcoming
88Tier-1 (high impact)
2006 to 2026Coverage
Upcoming catalysts 2
Event history 50
●Late-BreakerPresentation
Late-breaking poster: GLP-1 Receptor Agonist Initiation and Mortality in Patients on Maintenance Hemodialysis
maintenance hemodialysissource ↗
●Poster PresentationPresentation
Poster: Calcium Control and Electrolyte Stability During Regional Citrate Anticoagulation Using a Fully Integrated CRRT System at ASN Kidney Week 2026
critically ill patients receiving CRRTsource ↗
▲Product LaunchmultiFiltratePROApprovedPost-Market
U.S. launch of multiFiltratePRO System
acute kidney injury (continuous renal replacement therapy)source ↗
▲FDA ApprovalCalrezdyApprovedFDA Decision
FDA approved Calrezdy (calcium chloride solution) for RCA in CKRT
calcium substitution for regional citrate anticoagulation during CVVHD/CVVHDFsource ↗
▲FDA ApprovalCienbyApprovedFDA Decision
FDA approved Cienby (sodium citrate solution) for RCA in CKRT
regional citrate anticoagulation during CVVHD/CVVHDFsource ↗
▲FDA ApprovalmultiFiltratePROApprovedFDA Decision
FDA cleared multiFiltratePRO System for CRRT in AKI
acute kidney injury (continuous renal replacement therapy)source ↗
▲PublicationPresentation
Publication of multinational real-world evidence study in JASN
kidney failuresource ↗
▲Quarterly UpdateCorporate
Q2 2026 financial results: operating income excl. special items grew 23% yoy
▲Product LaunchPost-Market
5008X CAREsystem available in 227 U.S. clinics with >600,000 treatments
renal diseasesource ↗
▲Enrollment MilestoneTrial
BEACON-US scientific research initiative early insights
renal diseasesource ↗
▼Program DiscontinuationTAVNEOSDiscontinuedCorporate
Recommended revocation of TAVNEOS marketing authorization
●Management ChangeCorporate
Cassie McLean appointed to Management Board as CEO of Care Delivery
●Enrollment UpdateTrial
BEACON-US data collection ongoing with early observations
kidney diseasesource ↗
▲Product LaunchTherapyWisePost-Market
Fresenius Medical Care introduces TherapyWise analytics for kidney replacement therapy
kidney replacement therapy in acute and hospital critical care settingssource ↗
▲Full ResultsClinical Data
International cohort study on HDF vs hemodialysis published in CJASN
kidney failuresource ↗
▲PublicationPresentation
International study on HDF and mortality in incident dialysis patients published in CJASN
kidney diseasesource ↗
▼Timing GuidancePresentation
One-time costs of ~€110 million from portfolio optimization expected in Q3 2026
▼Restructuring LayoffsCorporate
Exited around 100 U.S. dialysis clinics in 2026 optimization plan
●Quarterly UpdateCorporate
As of June 30, 2026, 2,454,945 shares repurchased for EUR 94 million
▲Product LaunchPost-Market
5008X CAREsystem rollout in U.S. with around 100 clinics and >100,000 treatments
renal diseasesource ↗
▲Product LaunchPost-Market
Full U.S. commercial launch of 5008X CAREsystem underway
kidney diseasesource ↗
●Restructuring LayoffsCorporate
Optimization of U.S. dialysis clinic footprint: exited 64 of up to 100 clinics
▼Quarterly UpdateCorporate
Portfolio Optimization Program: assets under review may negatively impact 2025 revenue by EUR 1.5 billion if executed by end of 2025
▲Full ResultsClinical Data
Real-world hospitalization outcomes study published in CJASN
kidney failuresource ↗
▲PublicationPresentation
Real-world hospitalization outcomes study published in CJASN
kidney diseasesource ↗
◆Timing GuidancePresentation
Fresenius Medical Care expects USD 11 billion medical cost under management by end of 2025
●Debt Royalty FinancingCorporate
Fresenius Medical Care placed a bond with volume of 500 million euros, maturing November 2030, coupon 3.250%
◆Management ChangeCorporate
Tommy P. O'Connor appointed CEO of Interwell Health and VBC business segment leader
▲Partnership / LicenseCorporate
FME increases ownership stake in Interwell Health via share purchase agreement with non-physician investors
◆Management ChangeCorporate
Robert Sepucha to leave as CEO of Interwell Health at end of September 2025
▲Equity OfferingCorporate
Share buyback program of EUR 1 billion resolved, to commence in H2 2025
▲Product LaunchPost-Market
Second phase of U.S. commercialization begins; first wave clinics deployment
kidney diseasesource ↗
▲FDA Filing AcceptedRegulatory Filing
FDA 510(k) clearance for updated 5008X CAREsystem with additional features
kidney diseasesource ↗
●Debt Royalty FinancingCorporate
Fresenius Medical Care placed bonds with aggregate volume of 1.1 billion
Past FDA Catalysts and PDUFA Decisions
How FMS actually traded into and out of each decision
| Date | Drug | Catalyst | Stage | Reaction | Event Move % | Best Trade % |
|---|---|---|---|---|---|---|
| 2026-10-19 | Cienby (sodium ctirate) | PDUFA Date Approved | PDUFA |
Reaction: 30 trading days around the event · Event Move: close to close on decision day · Best Trade: peak run-up from entry 10 days before the decision
Drug Pipeline Intelligence
Pipeline Score
Pipeline Value
Valuation Signal
2
Drugs Scored
rNPV / MCap
Top Drug
Top 46%
Mid Cap(rank 303 of 657)
Percentile Rank
| Drug | Indication | Phase | PTRS | rNPV | Status | Enroll | Velocity | Design | Est. Completion | ML Signal | Last Change |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Difelikefalin Small moleculeNCT06593392 | Pruritus | Phase 2 | RECRUITING | 18 | Aug 15, 2029 | ||||||
| Difelikefalin Small moleculeCompletedNCT05885737 | Uremic Pruritus | Phase 3 | COMPLETED | 260 | Sep 25, 2024 | ||||||
| Difelikefalin Small moleculeCompletedNCT05885763 | End Stage Renal Disease on Hemodialysis | Phase 1 | COMPLETED | 30 | Oct 9, 2023 | ||||||
| Dialysis Small moleculeCompletedNCT05339139 | Acute Kidney Injury | Phase 3 | COMPLETED | 32 | Jun 30, 2025 | ||||||
| Patiromer for Small moleculeCompletedNCT05136664 | Hyperkalemia | Phase 3 | COMPLETED | 262 | Nov 18, 2025 |
Clinical Trial Results
Readouts, endpoints and source filings for every FMS program
Inside Trades
| Insider | Side | Shares | Price | Value | Date |
|---|---|---|---|---|---|
| John SmithCEO | Buy | 50,000 150,000 held | $45.50 | 01/10/2026 |
Hedge Fund 13F Activity
Hedge Funds invested in FMS
| Fund | % of Portfolio | Current MV | Shares Owned | Activity |
|---|---|---|---|---|
| INTEGRAL HEALTH ASSET MANAGEMENT, LLC | 0.8 % | 17.48 M | 775.00 K | 19.23% ( 125.00 K) |
FMS Institutional Ownership Trends
FMS Short Interest
Shares sold short, counted twice a month.
0.74%
Short % of Float
of tradable shares sold short
4.0M
Shares Sold Short
+39.7% vs prior count
3.5 Moderate
Days to Cover
trading days of normal volume to buy every short share back
1.1M
Avg Daily Volume
the average used for days to cover
Options Data
Option Volume
Open Interest
Call OI
Put OI
Put-Call Ratio
OI 30-day avg
Today vs avg
Option Volume
Call Vol
Put Vol
Put-Call Ratio
Vol 30-day avg
Today vs avg
Option Chain Statistics
| Expiry | Call Vol | Put Vol | Vol P/C | Call OI | Put OI | OI P/C | IV Call | IV Call OI-Wtd | IV Call Vol-Wtd | IV Put | IV Put OI-Wtd | IV Put Vol-Wtd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-11-20 | ||||||||||||
Real-Time Option Chain
| Calls | Strike | Puts | ||||
|---|---|---|---|---|---|---|
| Last | Vol | OI | Last | Vol | OI | |
| No data available | ||||||
Calls vs Puts by Expiry
CallsPutsLog scale
Competitive positioning
How FMS ranks across every disease it competes in
Competitive Position is a premium feature
See how FMS ranks against every competitor across each disease it develops in: phase, best drug, trials and likelihood of approval.
Start free trialFMS News
-FMS
Oct 21, 2026Fresenius Medical Care Brings Kidney Care Innovation to Critical Care Patients with U.S. Launch of multiFiltratePRO™
Fresenius Medical Care announced the U.S. launch of the multiFiltratePRO System for patients with acute kidney injury. The FDA cleared the system, which integrates citrate and calcium pumps to simplify treatment. This innovation aims to enhance care for critically ill patients and reflects the company's commitment to advancing kidney care solutions.
Read more →-FMS
Oct 19, 2026Fresenius Medical Care presents new evidence and innovations advancing kidney care at ASN Kidney Week 2026
Fresenius Medical Care presented new research at ASN Kidney Week 2026, highlighting advancements in kidney care. Key findings include successful implementation of high-volume hemodiafiltration in the U.S. and the positive impact of GLP-1 receptor agonists on dialysis patient outcomes. The company emphasizes evidence-based care and innovative technologies to improve patient treatment.
Read more →-FMS
Oct 7, 2026Shervin J. Korangy appointed CEO of Fresenius Medical Care to lead the next phase of strategic development and long-term profitable growth
Fresenius Medical Care has appointed Shervin J. Korangy as CEO, effective October 12, 2026. He succeeds Helen Giza, who led the company through significant transformations, including the FME25+ program. Korangy aims to accelerate long-term growth and innovation while building on the company's strong foundation. His leadership experience in healthcare positions him well for this role.
Read more →-FMS
Sep 25, 2026Fresenius Medical Care Refines China Commercial Strategy with a Focus on Long-Term Growth and Market Leadership
Fresenius Medical Care has refined its commercial strategy in China to enhance long-term growth and market leadership. The new approach emphasizes a localized portfolio and innovation, with significant changes including the discontinuation of certain products. While these adjustments will incur one-time costs, the company remains optimistic about future growth in the region.
Read more →-FMS
Aug 27, 2026Fresenius Medical Care Announces Publication of a Multinational Real-World Evidence Study Associating High-Volume Hemodiafiltration with Lower Mortality Risk Than Conventional Hemodialysis
Fresenius Medical Care published a study demonstrating that high-volume hemodiafiltration (HDF) is associated with a 28% lower risk of all-cause mortality compared to conventional high-flux hemodialysis. The research analyzed nearly 20,000 patients across eight European countries and utilized advanced statistical methods to ensure reliability. This study adds to the growing evidence advocating for HDF as a standard treatment for kidney failure.
Read more →-FMS
Aug 3, 2026Fresenius Medical Care accelerates income growth to 23% in the second quarter of 2026 while advancing its strategic agenda
Fresenius Medical Care reported a 23% increase in operating income for Q2 2026, driven by strong organic revenue growth across all segments. The company successfully rolled out its innovative 5008X CAREsystem in 227 U.S. clinics, performing over 600,000 treatments. Despite a 3% decrease in reported net income, the firm reaffirmed its outlook for the fiscal year 2026.
Read more →-FMS
Aug 3, 2026Fresenius Medical Care appoints Cassie McLean as new Management Board Member for Care Delivery
Fresenius Medical Care has appointed Cassie McLean as a new Management Board member, effective August 1, 2026. She will serve as CEO of Care Delivery, succeeding Craig Cordola. McLean, who joined the company in 2025, is expected to enhance operational performance and accountability in the global clinic business. Her prior experience includes leadership roles at Monte Nido and DaVita Kidney Care.
Read more →-FMS
Jul 29, 2026Fresenius Medical Care announces BEACON-US, generating real-world evidence supporting high-volume hemodiafiltration for U.S. dialysis patients
Fresenius Medical Care has launched the BEACON-US initiative to evaluate high-volume hemodiafiltration (HVHDF) in U.S. dialysis patients. The initiative aims to gather real-world evidence on clinical outcomes and patient experiences. Early data indicates that HVHDF may lead to fewer hospitalizations and improved patient experiences, aligning with international studies.
Read more →-FMS
Jul 20, 2026Fresenius Medical Care introduces TherapyWise™ analytics for kidney replacement therapy
Fresenius Medical Care has launched TherapyWise™, a cloud-based analytics platform designed for kidney replacement therapy in acute care settings. Integrated with the NxStage® System One™ and NxView™ 4.0, it aggregates therapy data to identify trends and improve workflow. The platform aims to enhance oversight and quality of kidney replacement therapy programs.
Read more →-FMS
May 28, 2026Fresenius Medical Care AG ("FME") disclosed on May 26, 2026, to conduct the next share buyback program. The program is scheduled to commence on May 28, 2026, and to be
Fresenius Medical Care AG announced a share buyback program set to commence on May 28, 2026, allowing for the repurchase of up to 29,341,344 shares within a total budget of EUR 1 billion over the next twelve months. The program, authorized during the General Meeting on May 21, 2026, includes provisions for the cancellation of most repurchased shares to reduce share capital. A credit institution will manage the transactions independently, adhering to regulatory guidelines. This initiative aims to enhance shareholder value and reflects the company's confidence in its market position.
Read more →-FMS
May 21, 2026Fresenius Medical Care Annual General Meeting: Strengthening performance and advancing innovation in kidney care
Fresenius Medical Care held its Annual General Meeting, highlighting a strong financial performance with an organic revenue growth of 8%. Shareholders approved a dividend of EUR 1.49 per share, and the company announced the successful completion of a EUR 1 billion share buyback program. The introduction of the 5008X CAREsystem marks a significant advancement in kidney care, with full commercial launch planned for 2026. Management emphasized their commitment to sustainable value creation and adaptability in a volatile market landscape.
Read more →-FMS
May 5, 2026▼ -10.9%on this news
Fresenius Medical Care delivers strong operating income growth in Q1 2026 while advancing the U.S. rollout of 5008X CAREsystems at speed
Fresenius Medical Care reported strong operational performance in Q1 2026, achieving organic revenue growth and increased profitability alongside the successful rollout of the 5008X CAREsystem. Despite these advancements, the company faced a 6% revenue decline and a 14% decrease in operating income due to significant regulatory and market challenges. The FME Reignite strategy continues to foster long-term growth, while the company undertakes measures to optimize U.S. dialysis clinic operations. Management remains committed to maintaining operational stability and shareholder value.
Read more →-FMS
Apr 14, 2026Fresenius Medical Care AG Hof (Saale) ISIN: DE0005785802 // WKN: 578580 ISIN: US3580291066 // CUSIP: 358029106 Invitation to the Annual General Meeting We hereby invite our shareholders to the Annual General Meeting of F
Fresenius Medical Care AG has announced its Annual General Meeting scheduled for May 21, 2026, in Frankfurt. Shareholders will find available documents regarding the meeting on the company's website. The board approved the financial statements and proposed a dividend of EUR 1.49 per share, reflecting a robust distributable profit. Additionally, the company plans to renew its share buyback authorization for treasury shares over the next five years.
Read more →-FMS
Feb 24, 2026▼ -7.8%on this news
Fresenius Medical Care published Report on Form 20-F for fiscal year 2025
Fresenius Medical Care has filed its Annual Report on Form 20-F for the fiscal year 2025 with the SEC. The report is available on the company's website and provides complete audited financial statements. Fresenius Medical Care remains a global leader in providing products and services for patients with renal diseases, serving approximately 292,000 patients through its dialysis clinics worldwide. The release also includes warnings about potential risks that could affect future performance.
Read more →-FMS
Jan 9, 2026Fresenius Medical Care AG is continuing its share buyback program in an accelerated manner
Fresenius Medical Care AG has announced the continuation of its share buyback program, initially launched in June 2025, by initiating a second tranche. The company plans to repurchase shares worth approximately EUR 415 million from January 12, 2026, to May 8, 2026, with the aim of completing the program earlier than anticipated. This strategic move follows the earlier-than-expected completion of the first tranche in December 2025, reflecting the company's strong commitment to enhancing shareholder value.
Read more →-FMS
Dec 10, 2025Fresenius Medical Care appoints Charles Hugh-Jones as Global Chief Medical Officer and member of the Management Board
Fresenius Medical Care has appointed Charles Hugh-Jones as the new Global Chief Medical Officer, effective January 1, 2026. He succeeds Franklin W. Maddux, who is retiring. Hugh-Jones has extensive experience in the medical field, having previously served as CEO of Volastra Therapeutics and held senior leadership roles at Allergan, Pfizer, and Sanofi. His appointment is seen as a positive step for Fresenius Medical Care as it aims to advance its leadership in kidney care and introduces innovative treatment solutions.
Read more →-FMS
Nov 17, 2025Fresenius Medical Care places bond with a volume of 500 million
Fresenius Medical Care has successfully placed a bond valued at 500 million, with a maturity date in November 2030 and a coupon rate of 3.250%. The funds raised will be allocated towards general corporate purposes, including the refinancing of existing financial liabilities. The bond is part of the company's Debt Issuance Program and has been submitted for trading on the Luxembourg Stock Exchange. However, the announcement includes advisory notes on potential risks and restrictions regarding the bond's sale in certain countries.
Read more →-FMS
Nov 4, 2025▼ -7.8%on this news
Fresenius Medical Care further accelerates organic revenue development
Fresenius Medical Care reported a significant 28% increase in operating income for Q3 2025, highlighting positive momentum in their financial performance. The company's comprehensive FME Reignite strategy has advanced, contributing to a 10% organic growth across all three operating segments. Despite some negative impact from portfolio optimization divestitures, overall revenue showed a growth of 3% year-over-year. The organization also commenced a share buyback program, further indicating its commitment to returning value to shareholders.
Read more →-FMS
Oct 1, 2025Fresenius Medical Care appoints Joseph Turk as new Management Board Member for Care Enablement
Fresenius Medical Care has announced the appointment of Joseph Turk as the new Chief Executive Officer of the Care Enablement segment, effective January 1, 2026. This decision follows the planned retirement of Dr. Katarzyna Mazur-Hofs, who has led the segment since its inception. Turk, who has been with Fresenius since 2019, is expected to leverage his extensive experience to foster innovation and support the company's strategic initiatives. The appointment marks a transitional phase for the organization as it continues its operational enhancement strategies.
Read more →-FMS
Sep 18, 2025Fresenius Medical Care advances its FME Reignite strategy by increasing ownership in its Value-Based Care asset and appointing a new leader for the operating segment
Fresenius Medical Care has announced strategic advancements in its Value-Based Care (VBC) segment, including a significant investment and leadership changes. The company increased its ownership stake in Interwell Health, which reported a revenue growth of 23.5% in the first half of the year. Tommy P. O'Connor will take over as CEO of Interwell Health, bringing extensive leadership experience to reinforce the company's focus on improving kidney care outcomes. These developments are part of Fresenius' FME Reignite strategy aimed at enhancing care quality while reducing costs.
Read more →About Fresenius Medical Care AG
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