Fresenius Medical Care
FMS · NYSEServices-Misc Health & Allied Services, NEC
Net income was $1.2B. Operating cash flow of $2.1B less capital expenditure of $1B left free cash flow of $1.1B. Net debt was $7.1B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 |
|---|---|---|---|---|---|
| Revenue | – | $5B | $5.3B | – | – |
| Cost of revenue | $9.2B | $9.9B | $10.8B | $11.4B | $12.1B |
| Gross profit | $4.6B | $4.7B | $5B | $5.3B | $5.8B |
| Research & development | $112M | $126M | $122M | $140M | $162M |
| Selling, general & admin | $2.2B | $2.4B | $2.6B | $2.9B | $3B |
| Operating income | $2.2B | $2.3B | $2.3B | $2.3B | $2.6B |
| Net interest incomeBanks | $426M | $409M | – | – | – |
| Interest expense | $471M | $448M | $495M | $508M | $452M |
| Pre-tax income | $1.9B | $1.8B | $1.8B | $1.9B | $2.2B |
| Income tax | $605M | $592M | $584M | $622M | $683M |
| Net income | $1.2B | $1.1B | $1B | $1B | $1.2B |
| Diluted EPS | 3.87 | 3.65 | 3.45 | 3.38 | 4.06 |
| Diluted shares | 303M | 303M | 303M | 305M | 306M |
Balance sheet
| Fiscal year | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 |
|---|---|---|---|---|---|
| Cash & equivalents | $688M | $683M | $634M | $550M | $747M |
| Receivables | $3B | $3B | $3.2B | $3.3B | $3.5B |
| Inventory | $1B | $1.1B | $1.1B | $1.3B | $1.4B |
| Current assets | $6.1B | $6.3B | $6.7B | $6.8B | $7.3B |
| Net PP&E | $2.9B | $3.1B | $3.3B | $3.4B | $3.8B |
| Goodwill | $11.4B | $11.7B | $13.1B | $13B | $13.7B |
| Total assets | $22.3B | $23.1B | $25.4B | $25.4B | $26.9B |
| Payables | $622M | $543M | $573M | $628M | $607M |
| Current liabilities | $3.2B | $3.6B | $3.5B | $4.1B | $5B |
| Short-term debt | $122M | $159M | $138M | $128M | $606M |
| Long-term debt | $7.8B | $7.7B | $9B | $7.9B | $7.2B |
| Total liabilities | $12.6B | $13B | $14.5B | $13.8B | $14.2B |
| Shareholders' equity | $8.9B | $9.2B | $9.4B | $9.9B | $10.8B |
Cash flow
| Fiscal year | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 |
|---|---|---|---|---|---|
| Operating cash flow | $2B | $2B | $1.9B | $2B | $2.1B |
| Capital expenditure | $675M | $748M | $932M | $953M | $1B |
| Free cash flow | $1.4B | $1.3B | $930M | $1B | $1.1B |
| Depreciation & amortisation | $603M | $648M | $699M | $717M | $776M |
| Stock-based compensation | $2M | $14M | $6M | $7M | $26M |
| Acquisitions | $1.9B | −$496M | −$1.8B | −$317M | −$578M |
| Dividends paid | $272M | −$296M | −$318M | −$263M | −$277M |
| Dividend per share | – | – | 0.77 | 0.78 | 0.80 |
Key ratios
| Fiscal year | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | – | 5.9% | – | – |
| Operating income growth (YoY) | – | 1.7% | −0.1% | 3.2% | 13.4% |
| EPS growth (YoY) | – | −5.7% | −5.5% | −2.0% | 20.1% |
| Gross margin | – | 95.3% | 94.9% | – | – |
| Operating margin | – | 45.4% | 42.8% | – | – |
| Net margin | – | 22.3% | 19.9% | – | – |
| Return on equityBlank when equity is negative | 13.3% | 12.0% | 11.1% | 10.4% | 11.5% |
| ROCEEBIT ÷ (assets − current liabilities) | 11.6% | 11.5% | 10.3% | 11.0% | 12.0% |
| Free cash flow margin | – | 25.9% | 17.7% | – | – |
| Cash conversion (CFO ÷ net income) | 1.72x | 1.83x | 1.78x | 1.90x | 1.72x |
| Receivable days | – | 223 | 222 | – | – |
| Inventory days | 41 | 41 | 38 | 43 | 42 |
| Payable days | 25 | 20 | 19 | 20 | 18 |
| Interest cover | 4.72x | 5.04x | 4.55x | 4.58x | 5.83x |
| Debt ÷ equity | 0.88x | 0.86x | 0.97x | 0.81x | 0.72x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $7.2B | $7.2B | $8.5B | $7.4B | $7.1B |
| Current ratio | 1.93x | 1.77x | 1.93x | 1.63x | 1.45x |
Recent filings
More in Services-Misc Health & Allied Services, Nec
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.