Fresenius - Public Comps and Valuation Multiples

Fresenius Overview

About Fresenius

Fresenius SE is a healthcare holding company based in Germany. The company owns a minority stake in dialysis service provider and equipment manufacturer Fresenius Medical Care. The Kabi segment manufactures intravenous drugs, nutrition products, infusion and transfusion therapies, and related pumps. The Helios segment operates private hospitals primarily in Germany and Spain.

Founded

1912

HQ

Employees

179.9K+

Website

fresenius.com

Sectors

Hospitals & Clinics
Medical Supplies
Drug Development & Therapeutics
BioTech

Financials

LTM Revenue $26.2B

LTM EBITDA $4.4B

EV

$45.5B

Valuation Multiples

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Fresenius Financials

As of September 2025, Fresenius reported last 12-month revenue of $26.2B and EBITDA of $4.4B.

In the same period, Fresenius generated $6.8B in LTM gross profit and $1.8B in net income.

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Fresenius P&L

In the most recent fiscal year, Fresenius reported revenue of $25.5B and EBITDA of $3.7B.

Fresenius expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$26.2B	XXX	$25.5B	XXX	XXX	XXX
Gross Profit	$6.8B	XXX	$6.3B	XXX	XXX	XXX
Gross Margin	26%	XXX	25%	XXX	XXX	XXX
EBITDA	$4.4B	XXX	$3.7B	XXX	XXX	XXX
EBITDA Margin	17%	XXX	14%	XXX	XXX	XXX
EBIT	$3.0B	XXX	$2.1B	XXX	XXX	XXX
EBIT Margin	11%	XXX	8%	XXX	XXX	XXX
Net Profit	$1.8B	XXX	$549M	XXX	XXX	XXX
Net Margin	7%	XXX	2%	XXX	XXX	XXX
Net Debt	XXX	XXX	$11.7B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Fresenius including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $26.2B. EBITDA for the last twelve months was $4.4B. In the most recent fiscal year, Fresenius achieved $25.5B in revenue and $3.7B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$26.2B	Analyst estimates available to subscribers	$25.5B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$6.8B	Analyst estimates available to subscribers	$6.3B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	26.1% gross margin	Analyst estimates available to subscribers	24.6% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$4.4B	Analyst estimates available to subscribers	$3.7B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	16.7% EBITDA margin	Analyst estimates available to subscribers	14.4% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$3.0B	Analyst estimates available to subscribers	$2.1B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	11.5% EBIT margin	Analyst estimates available to subscribers	8.2% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$1.8B	Analyst estimates available to subscribers	$549M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	6.7% net profit margin	Analyst estimates available to subscribers	2.2% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$11.7B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Fresenius

This financial data table provides comprehensive performance metrics for Fresenius, a company based in Germany. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Fresenius generated $26.2B in revenue over the last twelve months.
The company achieved $4.4B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $6.8B.
Net income over the last twelve months reached $1.8B.

Fiscal Year Performance

In the most recent fiscal year, Fresenius reported $25.5B in total revenue.
Fiscal year EBITDA was $3.7B.
The company maintained a gross profit margin of 24.6% in the most recent fiscal year.
EBITDA margin for the fiscal year was 14.4%.
Net profit margin reached 2.2% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Fresenius. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Fresenius Stock Performance

Fresenius has current market cap of EUR 27.6B (or $32.2B), and EV of EUR 39.1B (or $45.5B).

Market Cap Evolution

Fresenius Stock Data

As of October 28, 2025, Fresenius's stock price is EUR 49 (or $57).

See Fresenius trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$45.5B	$32.2B	XXX	XXX	XXX	XXX	$3.87

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Fresenius Valuation Multiples

Fresenius's trades at 1.8x EV/Revenue multiple, and 12.4x EV/EBITDA.

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Fresenius Financial Valuation Multiples

As of October 28, 2025, Fresenius has market cap of $32.2B and EV of $45.5B.

Equity research analysts estimate Fresenius's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Fresenius has a P/E ratio of 18.3x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$32.2B	XXX	$32.2B	XXX	XXX	XXX
EV (current)	$45.5B	XXX	$45.5B	XXX	XXX	XXX
EV/Revenue	1.7x	XXX	1.8x	XXX	XXX	XXX
EV/EBITDA	10.4x	XXX	12.4x	XXX	XXX	XXX
EV/EBIT	15.2x	XXX	21.9x	XXX	XXX	XXX
EV/Gross Profit	6.7x	XXX	n/a	XXX	XXX	XXX
P/E	18.3x	XXX	58.6x	XXX	XXX	XXX
EV/FCF	23.6x	XXX	25.6x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Fresenius Margins & Growth Rates

Fresenius's last 12 month revenue growth is 5%

Fresenius's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $23K for the same period.

Fresenius's rule of 40 is 17% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Fresenius's rule of X is 30% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Fresenius Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	5%	XXX	4%	XXX	XXX	XXX
EBITDA Margin	17%	XXX	14%	XXX	XXX	XXX
EBITDA Growth	9%	XXX	18%	XXX	XXX	XXX
Rule of 40	17%	XXX	20%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	30%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$23K	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	3%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	3%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	16%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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