Fresenius SE & CO. KGAA Detailed Consensus
Consensus as of: 2024-02-12

Please kindly note:

  1. The 2024 consensus estimates are slightly distorted due to different treatment (inclusion / exclusion) of the Eugin fertility services segment. The divesture was recently completed on 31st of January 2024. 
  2. The deconsolidation of Fresenius Medical Care was successfully completed as of November 30th, 2023 and FMC is accounted for at equity under IAS 28.
  3. Consensus estimates are before special items.

KPI[EUR m]Q4 2022FY 2022Q4 2023 EFY 2023 EFY 2024 E
Revenue ex FMENumber of Estimates141413
Revenue ex FMEHighest6,029.122,650.123,871.0
Revenue ex FMEConsensus (Mean)5,670.021,532.05,795.522,416.523,411.5
Revenue ex FMEMedian5,795.122,416.123,419.4
Revenue ex FMELowest5,585.022,206.022,756.5
Organic Revenue growth ex FME (in %)Number of Estimates888
Organic Revenue growth ex FME (in %)Highest6.06.76.3
Organic Revenue growth ex FME (in %)Consensus (Mean)4.04.54.05.65.1
Organic Revenue growth ex FME (in %)Median3.55.75.0
Organic Revenue growth ex FME (in %)Lowest1.53.74.3
EBIT ex FMENumber of Estimates141413
EBIT ex FMEHighest631.02,259.02,588.0
EBIT ex FMEConsensus (Mean)559.02,190.0590.72,218.72,458.6
EBIT ex FMEMedian594.22,222.22,421.0
EBIT ex FMELowest510.72,138.72,361.8
EBIT margin (in %)Number of Estimates141413
EBIT margin (in %)Highest10.710.010.9
EBIT margin (in %)Consensus (Mean)9.910.210.29.910.5
EBIT margin (in %)Median10.49.910.5
EBIT margin (in %)Lowest8.79.510.0
Net interest ex FMENumber of Estimates101010
Net interest ex FMEHighest-110.9-410.9-401.0
Net interest ex FMEConsensus (Mean)-80.0-241.0-124.8-424.8-447.4
Net interest ex FMEMedian-122.4-422.4-434.8
Net interest ex FMELowest-150.0-450.0-600.0
Taxes ex FMENumber of Estimates101010
Taxes ex FMEHighest-69.4-403.4-467.0
Taxes ex FMEConsensus (Mean)-111.0-437.0-117.1-451.1-503.2
Taxes ex FMEMedian-121.4-455.4-501.9
Taxes ex FMELowest-134.3-468.3-547.0
Non-controlling interest ex FMENumber of Estimates101010
Non-controlling interest ex FMEHighest-5.0-51.0-47.4
Non-controlling interest ex FMEConsensus (Mean)-6.0-78.0-18.9-64.9-69.4
Non-controlling interest ex FMEMedian-19.1-65.1-70.7
Non-controlling interest ex FMELowest-34.0-80.0-84.7
Group net income ex FMENumber of Estimates101010
Group net income ex FMEHighest378.11,326.11,526.6
Group net income ex FMEConsensus (Mean)362.01,434.0326.71,274.71,442.7
Group net income ex FMEMedian326.91,274.91,423.4
Group net income ex FMELowest215.41,163.41,367.1
Net income from operations deconsolidated (32% of FME net income, before special items)Number of Estimates998
Net income from operations deconsolidated (32% of FME net income, before special items)Highest92.0252.0285.0
Net income from operations deconsolidated (32% of FME net income, before special items)Consensus (Mean)83.0295.058.0218.0256.7
Net income from operations deconsolidated (32% of FME net income, before special items)Median62.3222.3258.2
Net income from operations deconsolidated (32% of FME net income, before special items)Lowest0.0160.0224.1
Net income attr. to FSENumber of Estimates998
Net income attr. to FSEHighest437.91,545.91,795.1
Net income attr. to FSEConsensus (Mean)445.01,729.0382.51,488.41,714.2
Net income attr. to FSEMedian390.51,498.51,712.0
Net income attr. to FSELowest304.81,407.31,638.0
EPS (in EUR)Number of Estimates998
EPS (in EUR)Highest0.782.753.20
EPS (in EUR)Consensus (Mean)0.793.080.682.653.05
EPS (in EUR)Median0.702.673.04
EPS (in EUR)Lowest0.532.502.91
Average number of ordinary shares (in million)Number of Estimates202014
Average number of ordinary shares (in million)Highest563.24563.24566.26
Average number of ordinary shares (in million)Consensus (Mean)563.24561.26563.24563.24563.29
Average number of ordinary shares (in million)Median563.24563.24563.24
Average number of ordinary shares (in million)Lowest563.24563.24561.26
Fresenius Kabi, revenueNumber of Estimates131312
Fresenius Kabi, revenueHighest2,114.68,127.68,691.0
Fresenius Kabi, revenueConsensus (Mean)2,036.07,850.02,042.18,055.18,484.5
Fresenius Kabi, revenueMedian2,053.08,066.08,491.2
Fresenius Kabi, revenueLowest1,951.07,964.08,149.5
Fresenius Kabi, organic revenue growth (in %)Number of Estimates91010
Fresenius Kabi, organic revenue growth (in %)Highest7.37.47.4
Fresenius Kabi, organic revenue growth (in %)Consensus (Mean)7.03.05.06.86.1
Fresenius Kabi, organic revenue growth (in %)Median5.16.86.3
Fresenius Kabi, organic revenue growth (in %)Lowest1.05.55.0
thereof Medtech, revenueNumber of Estimates10109
thereof Medtech, revenueHighest416.51,528.51,651.1
thereof Medtech, revenueConsensus (Mean)387.01,442.0394.71,506.71,589.0
thereof Medtech, revenueMedian392.21,504.21,582.9
thereof Medtech, revenueLowest365.71,477.71,510.0
thereof Nutrition, revenueNumber of Estimates10109
thereof Nutrition, revenueHighest607.62,410.62,536.8
thereof Nutrition, revenueConsensus (Mean)567.02,374.0571.32,374.32,481.7
thereof Nutrition, revenueMedian571.22,374.22,499.6
thereof Nutrition, revenueLowest528.32,331.32,297.1
thereof Biopharma, revenueNumber of Estimates10109
thereof Biopharma, revenueHighest113.1378.1550.0
thereof Biopharma, revenueConsensus (Mean)72.0188.091.9356.9494.4
thereof Biopharma, revenueMedian101.6366.6499.4
thereof Biopharma, revenueLowest19.0284.0407.6
Subtotal Growth Vectors, revenueNumber of Estimates10109
Subtotal Growth Vectors, revenueHighest1,095.24,275.24,701.6
Subtotal Growth Vectors, revenueConsensus (Mean)1,026.04,005.01,057.94,237.94,565.1
Subtotal Growth Vectors, revenueMedian1,051.84,231.84,580.0
Subtotal Growth Vectors, revenueLowest1,021.84,201.84,409.9
Pharma (IV Drugs & Fluids), revenueNumber of Estimates10109
Pharma (IV Drugs & Fluids), revenueHighest1,047.83,880.83,981.1
Pharma (IV Drugs & Fluids), revenueConsensus (Mean)1,010.03,845.0976.83,809.83,886.0
Pharma (IV Drugs & Fluids), revenueMedian965.03,798.03,898.9
Pharma (IV Drugs & Fluids), revenueLowest919.93,752.93,750.0
Fresenius Kabi, EBITNumber of Estimates131312
Fresenius Kabi, EBITHighest299.71,162.71,315.0
Fresenius Kabi, EBITConsensus (Mean)236.01,080.0282.01,145.01,239.7
Fresenius Kabi, EBITMedian280.11,143.11,237.1
Fresenius Kabi, EBITLowest267.31,130.31,156.1
Fresenius Kabi, EBIT marginNumber of Estimates131312
Fresenius Kabi, EBIT marginHighest15.014.515.4
Fresenius Kabi, EBIT marginConsensus (Mean)11.613.813.814.214.6
Fresenius Kabi, EBIT marginMedian13.714.214.6
Fresenius Kabi, EBIT marginLowest13.014.013.9
thereof Growth Vectors, EBITNumber of Estimates10109
thereof Growth Vectors, EBITHighest102.0390.0596.1
thereof Growth Vectors, EBITConsensus (Mean)60.0339.093.5382.0455.2
thereof Growth Vectors, EBITMedian93.7382.6450.2
thereof Growth Vectors, EBITLowest80.9368.9387.3
thereof Growth Vectors, EBIT margin (in %)Number of Estimates10109
thereof Growth Vectors, EBIT margin (in %)Highest9.49.113.0
thereof Growth Vectors, EBIT margin (in %)Consensus (Mean)5.98.58.89.010.0
thereof Growth Vectors, EBIT margin (in %)Median8.99.09.7
thereof Growth Vectors, EBIT margin (in %)Lowest7.78.78.5
thereof Pharma (IV Drugs & Fluids), EBIT Number of Estimates10109
thereof Pharma (IV Drugs & Fluids), EBIT Highest201.2804.2864.9
thereof Pharma (IV Drugs & Fluids), EBIT Consensus (Mean)190.0769.0191.0793.6807.7
thereof Pharma (IV Drugs & Fluids), EBIT Median189.3792.3802.0
thereof Pharma (IV Drugs & Fluids), EBIT Lowest183.2782.3762.7
thereof Pharma (IV Drugs & Fluids), EBIT margin (in %)Number of Estimates10109
thereof Pharma (IV Drugs & Fluids), EBIT margin (in %)Highest20.621.121.7
thereof Pharma (IV Drugs & Fluids), EBIT margin (in %)Consensus (Mean)18.820.019.620.820.8
thereof Pharma (IV Drugs & Fluids), EBIT margin (in %)Median19.720.920.7
thereof Pharma (IV Drugs & Fluids), EBIT margin (in %)Lowest18.420.519.5
thereof Corporate, EBITNumber of Estimates998
thereof Corporate, EBITHighest6.0-22.00.0
thereof Corporate, EBITConsensus (Mean)-14.0-28.0-5.3-33.3-37.8
thereof Corporate, EBITMedian-5.6-33.6-34.6
thereof Corporate, EBITLowest-15.0-43.0-101.8
Fresenius Helios, revenueNumber of Estimates131312
Fresenius Helios, revenueHighest3,301.012,433.012,995.1
Fresenius Helios, revenueConsensus (Mean)3,031.011,716.03,186.112,318.112,746.9
Fresenius Helios, revenueMedian3,169.812,301.812,724.4
Fresenius Helios, revenueLowest3,124.812,256.812,523.2
Fresenius Helios, organic revenue growth (in %)Number of Estimates91010
Fresenius Helios, organic revenue growth (in %)Highest8.96.16.2
Fresenius Helios, organic revenue growth (in %)Consensus (Mean)5.06.05.05.44.6
Fresenius Helios, organic revenue growth (in %)Median5.15.54.6
Fresenius Helios, organic revenue growth (in %)Lowest2.24.33.4
Helios Germany, revenueNumber of Estimates111110
Helios Germany, revenueHighest1,871.87,322.87,729.6
Helios Germany, revenueConsensus (Mean)1,749.07,021.01,831.67,282.67,583.5
Helios Germany, revenueMedian1,823.97,274.97,575.7
Helios Germany, revenueLowest1,801.77,252.77,412.5
Helios Spain, revenueNumber of Estimates111110
Helios Spain, revenueHighest1,332.94,813.95,088.0
Helios Spain, revenueConsensus (Mean)1,214.04,441.01,278.74,759.75,012.2
Helios Spain, revenueMedian1,275.04,756.04,993.4
Helios Spain, revenueLowest1,226.04,707.04,976.0
Helios Fertility, revenueNumber of Estimates11119
Helios Fertility, revenueHighest97.2295.2318.9
Helios Fertility, revenueConsensus (Mean)66.0250.075.1273.1173.3
Helios Fertility, revenueMedian74.0272.0274.0
Helios Fertility, revenueLowest55.0253.00.0
Fresenius Helios, EBITNumber of Estimates131312
Fresenius Helios, EBITHighest385.01,246.01,316.6
Fresenius Helios, EBITConsensus (Mean)354.01,185.0344.51,205.51,280.9
Fresenius Helios, EBITMedian356.91,217.91,284.1
Fresenius Helios, EBITLowest252.41,113.41,228.9
Fresenius Helios, EBIT margin (in %)Number of Estimates131312
Fresenius Helios, EBIT margin (in %)Highest11.910.110.4
Fresenius Helios, EBIT margin (in %)Consensus (Mean)11.710.110.89.810.1
Fresenius Helios, EBIT margin (in %)Median11.39.910.1
Fresenius Helios, EBIT margin (in %)Lowest8.09.19.6
Helios Germany, EBITNumber of Estimates111110
Helios Germany, EBITHighest188.2654.2700.0
Helios Germany, EBITConsensus (Mean)174.0623.0167.6633.6674.3
Helios Germany, EBITMedian173.8639.8674.2
Helios Germany, EBITLowest144.4610.4652.3
Helios Spain, EBITNumber of Estimates111110
Helios Spain, EBITHighest207.5599.5628.5
Helios Spain, EBITConsensus (Mean)172.0556.0168.4560.4603.4
Helios Spain, EBITMedian175.8567.8609.5
Helios Spain, EBITLowest105.4497.4574.7
Helios Fertility, EBITNumber of Estimates10108
Helios Fertility, EBITHighest8.124.134.5
Helios Fertility, EBITConsensus (Mean)6.021.06.422.414.8
Helios Fertility, EBITMedian6.622.615.6
Helios Fertility, EBITLowest4.020.00.0
Helios Corporate, EBITNumber of Estimates10109
Helios Corporate, EBITHighest3.0-10.00.0
Helios Corporate, EBITConsensus (Mean)2.0-15.0-3.0-16.0-13.6
Helios Corporate, EBITMedian-3.3-16.3-16.5
Helios Corporate, EBITLowest-7.0-20.0-20.6
Fresenius Vamed, revenueNumber of Estimates131312
Fresenius Vamed, revenueHighest800.22,561.22,677.0
Fresenius Vamed, revenueConsensus (Mean)712.02,359.0700.32,461.32,565.3
Fresenius Vamed, revenueMedian713.92,474.92,559.5
Fresenius Vamed, revenueLowest621.62,382.62,430.0
Fresenius Vamed, organic revenue growth (in %)Number of Estimates91010
Fresenius Vamed, organic revenue growth (in %)Highest12.48.67.0
Fresenius Vamed, organic revenue growth (in %)Consensus (Mean)-5.02.00.34.74.4
Fresenius Vamed, organic revenue growth (in %)Median2.35.14.6
Fresenius Vamed, organic revenue growth (in %)Lowest-11.90.72.0
Fresenius Vamed, EBITNumber of Estimates131312
Fresenius Vamed, EBITHighest22.7-14.391.7
Fresenius Vamed, EBITConsensus (Mean)-9.020.013.9-23.140.9
Fresenius Vamed, EBITMedian14.7-22.338.2
Fresenius Vamed, EBITLowest7.9-29.10.2
Fresenius Vamed, EBIT margin (in %)Number of Estimates131312
Fresenius Vamed, EBIT margin (in %)Highest3.2-0.63.5
Fresenius Vamed, EBIT margin (in %)Consensus (Mean)-1.30.82.0-0.91.6
Fresenius Vamed, EBIT margin (in %)Median2.0-0.91.5
Fresenius Vamed, EBIT margin (in %)Lowest1.3-1.20.0
Corporate/Other, revenueNumber of Estimates131312
Corporate/Other, revenueHighest-37.0-370.0-287.1
Corporate/Other, revenueConsensus (Mean)-133.0-483.0-91.7-424.7-418.2
Corporate/Other, revenueMedian-77.6-410.6-419.5
Corporate/Other, revenueLowest-160.0-493.0-480.0
Corporate/Other, EBITNumber of Estimates111110
Corporate/Other, EBITHighest-21.0-80.0-80.0
Corporate/Other, EBITConsensus (Mean)-24.0-98.0-38.4-97.4-116.5
Corporate/Other, EBITMedian-38.0-97.0-112.5
Corporate/Other, EBITLowest-91.0-150.0-158.8
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.