Fresenius SE & CO. KGAA Detailed Consensus >> Group
Consensus as of: 2026-10-23

Please kindly note:

  1. Historic numbers have been restated in order to reflect the Vamed exit as well as portfolio adjustments at Fresenius Helios.
  2. The Corporate/Other segment now includes the former Vamed Hospital Services business (HES).
  3. The contribution from Fresenius Medical Care is reflected in the line “Result from investments (Equity method; FME: ~26% of net income)”
  4. Consensus estimates are before special items.

KPI[EUR m]Q3 2025Q1-Q3 2025FY 2025Q3 2026 E9M 2026 EFY 2026 EFY 2027 E
RevenueNumber of Estimates11111414
RevenueHighest5,885.017,493.023,868.425,249.3
RevenueConsensus (Mean)5,477.016,679.022,554.05,790.717,398.723,689.924,927.5
RevenueMedian5,794.717,402.723,695.024,928.0
RevenueLowest5,703.617,311.623,557.124,633.0
Organic revenue growth (in %)Number of Estimates1041010
Organic revenue growth (in %)Highest6.65.55.85.8
Organic revenue growth (in %)Consensus (Mean)6.06.07.05.65.35.45.1
Organic revenue growth (in %)Median5.65.45.55.1
Organic revenue growth (in %)Lowest4.75.14.54.4
EBITNumber of Estimates11111414
EBITHighest631.02,028.02,813.03,073.1
EBITConsensus (Mean)574.01,882.02,595.0618.52,015.52,766.62,963.7
EBITMedian619.02,016.02,761.42,956.6
EBITLowest601.01,998.02,735.62,890.0
EBIT margin (in %)Number of Estimates11111414
EBIT margin (in %)Highest10.911.611.812.2
EBIT margin (in %)Consensus (Mean)10.511.311.510.711.611.711.9
EBIT margin (in %)Median10.711.611.711.9
EBIT margin (in %)Lowest10.311.511.511.6
Net interestNumber of Estimates10101212
Net interestHighest-70.4-210.4-279.7-270.3
Net interestConsensus (Mean)-81.0-247.0-324.0-77.6-217.6-303.2-302.8
Net interestMedian-78.0-218.0-303.1-298.0
Net interestLowest-86.5-226.5-320.0-344.3
TaxesNumber of Estimates10101212
TaxesHighest-128.2-430.2-559.0-633.5
TaxesConsensus (Mean)-122.0-408.0-582.0-135.0-437.0-600.2-662.1
TaxesMedian-132.8-434.8-598.9-662.7
TaxesLowest-154.0-456.0-627.0-694.2
Tax rate in %Number of Estimates10101212
Tax rate in %Highest28.925.525.325.5
Tax rate in %Consensus (Mean)24.725.025.625.024.324.424.8
Tax rate in %Median24.624.224.325.0
Tax rate in %Lowest24.024.022.924.3
Core net income (from continuing operations)Number of Estimates10101212
Core net income (from continuing operations)Highest4141,3691,9032,083
Core net income (from continuing operations)Consensus (Mean)3711,2271,6894051,3601,8652,004
Core net income (from continuing operations)Median4091,3641,8641,999
Core net income (from continuing operations)Lowest3791,3341,8421,941
Non-controlling interest in continuing operationsNumber of Estimates991111
Non-controlling interest in continuing operationsHighest-12.3-37.3-46.0-45.0
Non-controlling interest in continuing operationsConsensus (Mean)-20.0-48.0-70.0-19.9-44.9-67.6-73.4
Non-controlling interest in continuing operationsMedian-20.0-45.0-70.8-77.7
Non-controlling interest in continuing operationsLowest-28.2-53.2-77.0-85.0
Core net income (from continuing operations; after minorities)Number of Estimates991111
Core net income (from continuing operations; after minorities)Highest396.41,326.41,829.81,999.5
Core net income (from continuing operations; after minorities)Consensus (Mean)351.01,179.01,619.0387.71,317.71,798.81,933.2
Core net income (from continuing operations; after minorities)Median390.01,320.01,795.71,930.8
Core net income (from continuing operations; after minorities)Lowest372.91,302.91,775.91,863.7
Core EPS (in EUR; from continuing operations; after minorities)Number of Estimates991111
Core EPS (in EUR; from continuing operations; after minorities)Highest0.702.353.253.55
Core EPS (in EUR; from continuing operations; after minorities)Consensus (Mean)0.622.092.870.692.343.183.43
Core EPS (in EUR; from continuing operations; after minorities)Median0.692.343.193.43
Core EPS (in EUR; from continuing operations; after minorities)Lowest0.662.313.123.31
Result from investments (Equity method; FME: 32% of net income)Number of Estimates991111
Result from investments (Equity method; FME: 32% of net income)Highest86.0274.0334.8334.3
Result from investments (Equity method; FME: 32% of net income)Consensus (Mean)110.0264.0376.070.8258.8303.1297.6
Result from investments (Equity method; FME: 32% of net income)Median68.5256.5315.5301.2
Result from investments (Equity method; FME: 32% of net income)Lowest64.0252.0223.0231.8
Net income attributable to FSENumber of Estimates991212
Net income attributable to FSEHighest470.11,588.12,154.22,290.9
Net income attributable to FSEConsensus (Mean)461.01,443.01,995.0458.61,576.62,098.92,226.8
Net income attributable to FSEMedian459.61,577.62,104.42,230.5
Net income attributable to FSELowest444.91,562.91,998.52,133.5
EPS (in EUR)Number of Estimates991212
EPS (in EUR)Highest0.832.813.824.06
EPS (in EUR)Consensus (Mean)0.822.563.540.812.793.723.95
EPS (in EUR)Median0.822.803.743.96
EPS (in EUR)Lowest0.792.773.553.79
Average number of ordinary shares (in million)Number of Estimates14141414
Average number of ordinary shares (in million)Highest563.24563.24566.70567.70
Average number of ordinary shares (in million)Consensus (Mean)563.24563.24563.24563.24563.24563.58563.68
Average number of ordinary shares (in million)Median563.24563.24563.24563.24
Average number of ordinary shares (in million)Lowest563.24563.24563.24563.24
Disclaimer

This document has been issued by Vara Research GmbH for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding revenues, earnings and business developments of the relevant company. The company did not participate in the compilation of the estimates and it does not endorse them. Such estimates and forecasts cannot be independently verified by reason of the subjective character. Vara Research GmbH gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.