Fresenius Medical Care AG

BATS-CHIXE:FMED Stock Report

Market Cap: €12.4b

Fresenius Medical Care Valuation

Is FMED undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of FMED when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FMED (€42.41) is trading below our estimate of fair value (€137.04)

Significantly Below Fair Value: FMED is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FMED?

Key metric: As FMED is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for FMED. This is calculated by dividing FMED's market cap by their current earnings.
What is FMED's PE Ratio?
PE Ratio18.8x
Earnings€658.94m
Market Cap€12.40b

Price to Earnings Ratio vs Peers

How does FMED's PE Ratio compare to its peers?

The above table shows the PE ratio for FMED vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average27.7x
IDHC Integrated Diagnostics Holdings
14x23.7%US$229.9m
SN. Smith & Nephew
35.4x22.5%UK£8.6b
MDC Mediclinic International
21.9x10.7%UK£3.7b
CTEC ConvaTec Group
39.5x20.5%UK£4.8b
FMED Fresenius Medical Care
18.8x19.3%€12.4b

Price-To-Earnings vs Peers: FMED is good value based on its Price-To-Earnings Ratio (18.8x) compared to the peer average (29.6x).

Price to Earnings Ratio vs Industry

How does FMED's PE Ratio compare vs other companies in the European Healthcare Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies10PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: FMED is expensive based on its Price-To-Earnings Ratio (18.8x) compared to the European Healthcare industry average (18.6x).

Price to Earnings Ratio vs Fair Ratio

What is FMED's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FMED PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.8x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate FMED's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst FMED forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€42.41
€39.93
-5.8%
18.5%€60.00€29.00n/a18
Nov ’25n/a
€39.35
0%
18.5%€60.00€29.00n/a18
Oct ’25n/a
€38.85
0%
20.1%€60.00€26.00n/a18
Sep ’25n/a
€38.79
0%
20.1%€60.00€26.00n/a18
Aug ’25€36.02
€39.03
+8.4%
19.6%€60.00€26.00n/a18
Jul ’25€35.77
€39.97
+11.8%
18.2%€58.50€26.00n/a19
Jun ’25n/a
€39.92
0%
18.3%€58.50€26.00n/a19
May ’25€39.64
€39.16
-1.2%
18.5%€58.50€26.00n/a19
Apr ’25€35.53
€38.95
+9.6%
19.2%€58.50€26.00n/a19
Mar ’25n/a
€40.83
0%
25.8%€73.00€26.00n/a20
Feb ’25n/a
€40.68
0%
25.8%€71.00€24.00n/a20
Jan ’25n/a
€41.85
0%
26.1%€71.00€24.00n/a19
Dec ’24€36.69
€41.90
+14.2%
26.0%€71.00€24.00n/a19
Nov ’24€31.20
€43.21
+38.5%
21.6%€60.00€24.00n/a18
Oct ’24€40.94
€44.67
+9.1%
22.3%€67.00€24.00n/a18
Sep ’24€44.39
€44.51
+0.3%
22.3%€67.00€24.00n/a19
Aug ’24€47.50
€40.92
-13.8%
27.3%€67.00€21.00€36.0218
Jul ’24n/a
€38.16
0%
27.9%€67.00€21.00€35.7717
Jun ’24€40.46
€36.99
-8.6%
31.2%€67.00€17.40n/a17
May ’24€42.68
€35.90
-15.9%
32.2%€67.00€17.40€39.6416
Apr ’24€39.35
€34.08
-13.4%
33.2%€67.00€17.40€35.5316
Mar ’24€35.38
€33.39
-5.6%
34.9%€67.00€17.40n/a15
Feb ’24€34.63
€32.78
-5.3%
36.0%€67.00€17.10n/a15
Jan ’24€29.72
€34.12
+14.8%
33.3%€67.00€17.10n/a15
Dec ’23€30.35
€34.27
+12.9%
34.3%€67.00€17.10€36.6914
Nov ’23€27.34
€37.37
+36.7%
32.1%€67.00€17.10€31.2015

Analyst Forecast: Target price is lower than the current share price.

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