Fresenius SE & CO. KGAA Detailed Consensus
Consensus as of: 2024-09-25

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: 32% of net income)”
  4. Consensus estimates are before special items.

KPI[EUR m]FY 2023FY 2024 EFY 2025 E
RevenueNumber of Estimates99
RevenueHighest21,613.823,046.3
RevenueConsensus (Mean)20,307.021,314.222,497.4
RevenueMedian21,450.022,646.0
RevenueLowest20,228.721,161.0
Organic revenue growth (in %)Number of Estimates66
Organic revenue growth (in %)Highest6.85.9
Organic revenue growth (in %)Consensus (Mean)6.16.45.5
Organic revenue growth (in %)Median6.45.4
Organic revenue growth (in %)Lowest5.64.8
EBITNumber of Estimates99
EBITHighest2,593.92,880.1
EBITConsensus (Mean)2,266.02,501.22,730.8
EBITMedian2,499.12,764.4
EBITLowest2,420.72,502.3
EBIT margin (in %)Number of Estimates99
EBIT margin (in %)Highest12.012.5
EBIT margin (in %)Consensus (Mean)11.211.712.1
EBIT margin (in %)Median11.812.2
EBIT margin (in %)Lowest11.511.5
Net interestNumber of Estimates99
Net interestHighest-381.0-353.0
Net interestConsensus (Mean)-396.0-420.7-394.3
Net interestMedian-429.1-390.0
Net interestLowest-433.9-440.0
TaxesNumber of Estimates99
TaxesHighest-406.2-512.4
TaxesConsensus (Mean)-504.0-522.4-586.3
TaxesMedian-533.3-609.6
TaxesLowest-562.6-626.4
Tax rate in %Number of Estimates99
Tax rate in %Highest27.226.0
Tax rate in %Consensus (Mean)27.025.125.1
Tax rate in %Median25.525.5
Tax rate in %Lowest19.321.4
Core net income (from continuing operations)Number of Estimates99
Core net income (from continuing operations)Highest2,0402,149
Core net income (from continuing operations)Consensus (Mean)1,3661,6161,811
Core net income (from continuing operations)Median1,5661,790
Core net income (from continuing operations)Lowest1,4951,652
Non-controlling interest in continuing operationsNumber of Estimates78
Non-controlling interest in continuing operationsHighest-60.0-60.0
Non-controlling interest in continuing operationsConsensus (Mean)-66.0-73.1-77.9
Non-controlling interest in continuing operationsMedian-74.9-80.2
Non-controlling interest in continuing operationsLowest-80.0-86.3
Core net income (from continuing operations; after minorities)Number of Estimates78
Core net income (from continuing operations; after minorities)Highest1,619.01,801.2
Core net income (from continuing operations; after minorities)Consensus (Mean)1,300.01,499.51,691.0
Core net income (from continuing operations; after minorities)Median1,491.51,709.3
Core net income (from continuing operations; after minorities)Lowest1,431.51,569.0
Core EPS (in EUR; from continuing operations; after minorities)Number of Estimates78
Core EPS (in EUR; from continuing operations; after minorities)Highest2.873.20
Core EPS (in EUR; from continuing operations; after minorities)Consensus (Mean)2.312.663.00
Core EPS (in EUR; from continuing operations; after minorities)Median2.653.03
Core EPS (in EUR; from continuing operations; after minorities)Lowest2.542.79
Result from investments (Equity method; FME: 32% of net income)Number of Estimates77
Result from investments (Equity method; FME: 32% of net income)Highest299.2413.4
Result from investments (Equity method; FME: 32% of net income)Consensus (Mean)243.0237.2314.4
Result from investments (Equity method; FME: 32% of net income)Median259.0318.2
Result from investments (Equity method; FME: 32% of net income)Lowest151.0241.1
Net income attributable to FSENumber of Estimates88
Net income attributable to FSEHighest1,878.02,118.7
Net income attributable to FSEConsensus (Mean)1,543.01,735.52,010.7
Net income attributable to FSEMedian1,720.92,036.8
Net income attributable to FSELowest1,644.41,895.9
EPS (in EUR)Number of Estimates88
EPS (in EUR)Highest3.353.77
EPS (in EUR)Consensus (Mean)2.743.083.57
EPS (in EUR)Median3.063.62
EPS (in EUR)Lowest2.913.37
Average number of ordinary shares (in million)Number of Estimates88
Average number of ordinary shares (in million)Highest564.20564.20
Average number of ordinary shares (in million)Consensus (Mean)563.24563.36563.36
Average number of ordinary shares (in million)Median563.24563.24
Average number of ordinary shares (in million)Lowest563.24563.24
Fresenius Kabi, revenueNumber of Estimates99
Fresenius Kabi, revenueHighest8,659.09,234.0
Fresenius Kabi, revenueConsensus (Mean)8,009.08,463.79,003.2
Fresenius Kabi, revenueMedian8,480.49,029.4
Fresenius Kabi, revenueLowest8,185.08,743.7
Fresenius Kabi, organic revenue growth (in %)Number of Estimates88
Fresenius Kabi, organic revenue growth (in %)Highest8.96.9
Fresenius Kabi, organic revenue growth (in %)Consensus (Mean)7.08.46.5
Fresenius Kabi, organic revenue growth (in %)Median8.36.5
Fresenius Kabi, organic revenue growth (in %)Lowest7.55.8
thereof Medtech, revenueNumber of Estimates88
thereof Medtech, revenueHighest1,615.71,761.1
thereof Medtech, revenueConsensus (Mean)1,510.01,586.81,708.5
thereof Medtech, revenueMedian1,596.31,724.2
thereof Medtech, revenueLowest1,520.01,565.6
thereof Nutrition, revenueNumber of Estimates88
thereof Nutrition, revenueHighest2,494.22,670.6
thereof Nutrition, revenueConsensus (Mean)2,304.02,407.62,564.4
thereof Nutrition, revenueMedian2,396.22,551.4
thereof Nutrition, revenueLowest2,340.02,471.1
thereof Biopharma, revenueNumber of Estimates88
thereof Biopharma, revenueHighest620.7790.7
thereof Biopharma, revenueConsensus (Mean)363.0582.8722.0
thereof Biopharma, revenueMedian593.0730.9
thereof Biopharma, revenueLowest471.9589.9
Subtotal Growth Vectors, revenueNumber of Estimates88
Subtotal Growth Vectors, revenueHighest4,700.05,157.0
Subtotal Growth Vectors, revenueConsensus (Mean)4,177.04,577.24,994.9
Subtotal Growth Vectors, revenueMedian4,575.74,993.1
Subtotal Growth Vectors, revenueLowest4,435.04,806.2
Pharma (IV Drugs & Fluids), revenueNumber of Estimates88
Pharma (IV Drugs & Fluids), revenueHighest3,958.04,098.0
Pharma (IV Drugs & Fluids), revenueConsensus (Mean)3,832.03,904.54,033.4
Pharma (IV Drugs & Fluids), revenueMedian3,914.84,043.1
Pharma (IV Drugs & Fluids), revenueLowest3,750.03,937.5
Fresenius Kabi, EBITNumber of Estimates99
Fresenius Kabi, EBITHighest1,340.31,509.2
Fresenius Kabi, EBITConsensus (Mean)1,145.01,310.71,438.9
Fresenius Kabi, EBITMedian1,313.61,450.0
Fresenius Kabi, EBITLowest1,256.41,306.2
Fresenius Kabi, EBIT marginNumber of Estimates99
Fresenius Kabi, EBIT marginHighest16.016.6
Fresenius Kabi, EBIT marginConsensus (Mean)14.315.516.0
Fresenius Kabi, EBIT marginMedian15.516.1
Fresenius Kabi, EBIT marginLowest15.114.7
thereof Growth Vectors, EBITNumber of Estimates88
thereof Growth Vectors, EBITHighest635.2764.1
thereof Growth Vectors, EBITConsensus (Mean)390.0552.6656.9
thereof Growth Vectors, EBITMedian552.9663.9
thereof Growth Vectors, EBITLowest487.6539.4
thereof Growth Vectors, EBIT margin (in %)Number of Estimates88
thereof Growth Vectors, EBIT margin (in %)Highest13.915.3
thereof Growth Vectors, EBIT margin (in %)Consensus (Mean)9.312.113.1
thereof Growth Vectors, EBIT margin (in %)Median11.913.0
thereof Growth Vectors, EBIT margin (in %)Lowest11.011.0
thereof Pharma (IV Drugs & Fluids), EBIT Number of Estimates88
thereof Pharma (IV Drugs & Fluids), EBIT Highest842.9885.0
thereof Pharma (IV Drugs & Fluids), EBIT Consensus (Mean)792.0803.0826.3
thereof Pharma (IV Drugs & Fluids), EBIT Median803.2820.4
thereof Pharma (IV Drugs & Fluids), EBIT Lowest768.8787.5
thereof Pharma (IV Drugs & Fluids), EBIT margin (in %)Number of Estimates88
thereof Pharma (IV Drugs & Fluids), EBIT margin (in %)Highest21.321.6
thereof Pharma (IV Drugs & Fluids), EBIT margin (in %)Consensus (Mean)20.720.620.5
thereof Pharma (IV Drugs & Fluids), EBIT margin (in %)Median20.620.3
thereof Pharma (IV Drugs & Fluids), EBIT margin (in %)Lowest20.119.7
thereof Corporate, EBITNumber of Estimates77
thereof Corporate, EBITHighest-37.7-20.0
thereof Corporate, EBITConsensus (Mean)-37.0-54.7-49.4
thereof Corporate, EBITMedian-50.0-40.4
thereof Corporate, EBITLowest-110.2-99.3
Fresenius Helios, revenueNumber of Estimates99
Fresenius Helios, revenueHighest12,724.913,446.3
Fresenius Helios, revenueConsensus (Mean)11,952.012,584.813,206.4
Fresenius Helios, revenueMedian12,641.013,205.9
Fresenius Helios, revenueLowest12,207.012,672.5
Fresenius Helios, organic revenue growth (in %)Number of Estimates88
Fresenius Helios, organic revenue growth (in %)Highest5.85.6
Fresenius Helios, organic revenue growth (in %)Consensus (Mean)5.05.44.9
Fresenius Helios, organic revenue growth (in %)Median5.45.0
Fresenius Helios, organic revenue growth (in %)Lowest5.04.2
Helios Germany, revenueNumber of Estimates77
Helios Germany, revenueHighest7,597.78,064.7
Helios Germany, revenueConsensus (Mean)7,279.07,561.07,874.1
Helios Germany, revenueMedian7,562.97,832.1
Helios Germany, revenueLowest7,530.87,797.3
Helios Spain, revenueNumber of Estimates77
Helios Spain, revenueHighest5,150.65,514.2
Helios Spain, revenueConsensus (Mean)4,672.05,065.25,377.0
Helios Spain, revenueMedian5,101.05,382.4
Helios Spain, revenueLowest4,960.85,159.2
Fresenius Helios, EBITNumber of Estimates99
Fresenius Helios, EBITHighest1,365.21,470.3
Fresenius Helios, EBITConsensus (Mean)1,190.01,323.51,407.6
Fresenius Helios, EBITMedian1,319.01,435.0
Fresenius Helios, EBITLowest1,283.01,290.5
Fresenius Helios, EBIT margin (in %)Number of Estimates99
Fresenius Helios, EBIT margin (in %)Highest10.810.9
Fresenius Helios, EBIT margin (in %)Consensus (Mean)10.010.510.7
Fresenius Helios, EBIT margin (in %)Median10.610.8
Fresenius Helios, EBIT margin (in %)Lowest10.19.8
Helios Germany, EBITNumber of Estimates77
Helios Germany, EBITHighest766.2829.3
Helios Germany, EBITConsensus (Mean)630.0710.9739.2
Helios Germany, EBITMedian709.4750.6
Helios Germany, EBITLowest680.7610.6
Helios Spain, EBITNumber of Estimates77
Helios Spain, EBITHighest648.7710.8
Helios Spain, EBITConsensus (Mean)564.0625.3673.4
Helios Spain, EBITMedian622.4668.8
Helios Spain, EBITLowest615.0644.9
Helios Corporate, EBITNumber of Estimates77
Helios Corporate, EBITHighest-2.00.0
Helios Corporate, EBITConsensus (Mean)-4.0-6.4-6.0
Helios Corporate, EBITMedian-4.1-4.2
Helios Corporate, EBITLowest-16.0-15.0
Corporate/Other, revenueNumber of Estimates88
Corporate/Other, revenueHighest378.0499.0
Corporate/Other, revenueConsensus (Mean)346.0330.6374.0
Corporate/Other, revenueMedian344.7367.1
Corporate/Other, revenueLowest219.8320.0
Corporate/Other, EBITNumber of Estimates99
Corporate/Other, EBITHighest-102.2-15.0
Corporate/Other, EBITConsensus (Mean)-69.0-133.1-115.7
Corporate/Other, EBITMedian-130.0-125.0
Corporate/Other, EBITLowest-170.0-166.0
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.