FRESENIUS MEDICAL CARE-ADR (FMS) Stock Fundamental Analysis
USA - NYSE:FMS - US3580291066 - ADR
26.75 USD
+0.14 (+0.53%)
26.75 USD
0 (0%)
FMS gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 101 industry peers in the Health Care Providers & Services industry. FMS has only an average score on both its financial health and profitability. FMS is valued quite cheap, while showing a decent growth score. This is a good combination! These ratings could make FMS a good candidate for value investing.
1. Profitability
1.1 Basic Checks
FMS had positive earnings in the past year.
FMS had a positive operating cash flow in the past year.
Each year in the past 5 years FMS has been profitable.
FMS had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With a Return On Assets value of 2.10%, FMS perfoms like the industry average, outperforming 56.44% of the companies in the same industry.
Looking at the Return On Equity, with a value of 4.95%, FMS is in the better half of the industry, outperforming 61.39% of the companies in the same industry.
FMS has a Return On Invested Capital (3.84%) which is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for FMS is significantly below the industry average of 9.20%.
The last Return On Invested Capital (3.84%) for FMS is above the 3 year average (3.14%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.1% | ||
| ROE | 4.95% | ||
| ROIC | 3.84% |
ROA(3y)1.65%
ROA(5y)2.29%
ROE(3y)4.06%
ROE(5y)6.04%
ROIC(3y)3.14%
ROIC(5y)4%
1.3 Margins
FMS has a Profit Margin of 3.36%. This is in the better half of the industry: FMS outperforms 67.33% of its industry peers.
FMS's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 7.15%, FMS is in the better half of the industry, outperforming 70.30% of the companies in the same industry.
In the last couple of years the Operating Margin of FMS has declined.
The Gross Margin of FMS (24.67%) is comparable to the rest of the industry.
In the last couple of years the Gross Margin of FMS has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 7.15% | ||
| PM (TTM) | 3.36% | ||
| GM | 24.67% |
OM growth 3Y-13.44%
OM growth 5Y-12.95%
PM growth 3Y-20.33%
PM growth 5Y-16.53%
GM growth 3Y-3.16%
GM growth 5Y-4.44%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), FMS is destroying value.
Compared to 1 year ago, FMS has about the same amount of shares outstanding.
Compared to 5 years ago, FMS has less shares outstanding
FMS has a better debt/assets ratio than last year.
2.2 Solvency
FMS has an Altman-Z score of 1.82. This is not the best score and indicates that FMS is in the grey zone with still only limited risk for bankruptcy at the moment.
FMS has a Altman-Z score (1.82) which is in line with its industry peers.
FMS has a debt to FCF ratio of 5.47. This is a neutral value as FMS would need 5.47 years to pay back of all of its debts.
FMS has a better Debt to FCF ratio (5.47) than 66.34% of its industry peers.
A Debt/Equity ratio of 0.71 indicates that FMS is somewhat dependend on debt financing.
FMS's Debt to Equity ratio of 0.71 is in line compared to the rest of the industry. FMS outperforms 49.51% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.71 | ||
| Debt/FCF | 5.47 | ||
| Altman-Z | 1.82 |
ROIC/WACC0.74
WACC5.21%
2.3 Liquidity
FMS has a Current Ratio of 1.44. This is a normal value and indicates that FMS is financially healthy and should not expect problems in meeting its short term obligations.
The Current ratio of FMS (1.44) is comparable to the rest of the industry.
A Quick Ratio of 1.08 indicates that FMS should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.08, FMS is doing worse than 65.35% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.44 | ||
| Quick Ratio | 1.08 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 17.17% over the past year.
The Earnings Per Share has been decreasing by -6.43% on average over the past years.
Looking at the last year, FMS shows a small growth in Revenue. The Revenue has grown by 0.53% in the last year.
The Revenue has been growing slightly by 2.04% on average over the past years.
EPS 1Y (TTM)17.17%
EPS 3Y-1.97%
EPS 5Y-6.43%
EPS Q2Q%30%
Revenue 1Y (TTM)0.53%
Revenue growth 3Y3.15%
Revenue growth 5Y2.04%
Sales Q2Q%0.55%
3.2 Future
FMS is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 13.25% yearly.
Based on estimates for the next years, FMS will show a small growth in Revenue. The Revenue will grow by 3.89% on average per year.
EPS Next Y17.76%
EPS Next 2Y13.98%
EPS Next 3Y15.29%
EPS Next 5Y13.25%
Revenue Next Year1.28%
Revenue Next 2Y2.27%
Revenue Next 3Y3.09%
Revenue Next 5Y3.89%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 13.11, which indicates a correct valuation of FMS.
FMS's Price/Earnings ratio is rather cheap when compared to the industry. FMS is cheaper than 86.14% of the companies in the same industry.
When comparing the Price/Earnings ratio of FMS to the average of the S&P500 Index (27.86), we can say FMS is valued rather cheaply.
The Price/Forward Earnings ratio is 10.80, which indicates a very decent valuation of FMS.
86.14% of the companies in the same industry are more expensive than FMS, based on the Price/Forward Earnings ratio.
FMS is valuated cheaply when we compare the Price/Forward Earnings ratio to 23.32, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.11 | ||
| Fwd PE | 10.8 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of FMS indicates a rather cheap valuation: FMS is cheaper than 85.15% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, FMS is valued cheaper than 95.05% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.64 | ||
| EV/EBITDA | 7.22 |
4.3 Compensation for Growth
FMS's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as FMS's earnings are expected to grow with 15.29% in the coming years.
PEG (NY)0.74
PEG (5Y)N/A
EPS Next 2Y13.98%
EPS Next 3Y15.29%
5. Dividend
5.1 Amount
FMS has a Yearly Dividend Yield of 3.17%.
FMS's Dividend Yield is rather good when compared to the industry average which is at 2.45. FMS pays more dividend than 96.04% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.44, FMS pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.17% |
5.2 History
The dividend of FMS has a limited annual growth rate of 0.31%.
FMS has been paying a dividend for at least 10 years, so it has a reliable track record.
The dividend of FMS decreased in the last 3 years.
Dividend Growth(5Y)0.31%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
64.37% of the earnings are spent on dividend by FMS. This is not a sustainable payout ratio.
The dividend of FMS is growing, but earnings are growing more, so the dividend growth is sustainable.
DP64.37%
EPS Next 2Y13.98%
EPS Next 3Y15.29%
26.75
+0.14 (+0.53%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Providers & Services
Earnings (Last)
Earnings (Next)
Inst Owners43.16%
Inst Owner Change5.92%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap15.70B
Analysts67.2
Price Target29.49 (10.24%)
Short Float %0.36%
Short Ratio4.61
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.17% |
Yearly Dividend0.7
Dividend Growth(5Y)0.31%
DP64.37%
Div Incr Years2
Div Non Decr Years2
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)21.03%
Min EPS beat(2)14.89%
Max EPS beat(2)27.17%
EPS beat(4)4
Avg EPS beat(4)20.72%
Min EPS beat(4)14.89%
Max EPS beat(4)27.17%
EPS beat(8)7
Avg EPS beat(8)15.78%
EPS beat(12)10
Avg EPS beat(12)13.92%
EPS beat(16)12
Avg EPS beat(16)10.11%
Revenue beat(2)1
Avg Revenue beat(2)-0.3%
Min Revenue beat(2)-3.33%
Max Revenue beat(2)2.74%
Revenue beat(4)2
Avg Revenue beat(4)0.26%
Min Revenue beat(4)-4.4%
Max Revenue beat(4)6.05%
Revenue beat(8)3
Avg Revenue beat(8)-0.45%
Revenue beat(12)5
Avg Revenue beat(12)-0.49%
Revenue beat(16)6
Avg Revenue beat(16)-0.51%
PT rev (1m)-0.45%
PT rev (3m)0.26%
EPS NQ rev (1m)-0.93%
EPS NQ rev (3m)0.51%
EPS NY rev (1m)-0.11%
EPS NY rev (3m)3.28%
Revenue NQ rev (1m)-0.32%
Revenue NQ rev (3m)-1.87%
Revenue NY rev (1m)-0.26%
Revenue NY rev (3m)-0.88%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.11 | ||
| Fwd PE | 10.8 | ||
| P/S | 0.69 | ||
| P/FCF | 6.64 | ||
| P/OCF | 4.86 | ||
| P/B | 1.01 | ||
| P/tB | N/A | ||
| EV/EBITDA | 7.22 |
EPS(TTM)2.04
EY7.63%
EPS(NY)2.48
Fwd EY9.26%
FCF(TTM)4.03
FCFY15.06%
OCF(TTM)5.51
OCFY20.59%
SpS39.03
BVpS26.54
TBVpS-3.21
PEG (NY)0.74
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.1% | ||
| ROE | 4.95% | ||
| ROCE | 5.44% | ||
| ROIC | 3.84% | ||
| ROICexc | 4.19% | ||
| ROICexgc | 11.45% | ||
| OM | 7.15% | ||
| PM (TTM) | 3.36% | ||
| GM | 24.67% | ||
| FCFM | 10.32% |
ROA(3y)1.65%
ROA(5y)2.29%
ROE(3y)4.06%
ROE(5y)6.04%
ROIC(3y)3.14%
ROIC(5y)4%
ROICexc(3y)3.31%
ROICexc(5y)4.22%
ROICexgc(3y)8.52%
ROICexgc(5y)10.56%
ROCE(3y)4.51%
ROCE(5y)5.77%
ROICexcg growth 3Y-7.67%
ROICexcg growth 5Y-10.05%
ROICexc growth 3Y-10.35%
ROICexc growth 5Y-11.48%
OM growth 3Y-13.44%
OM growth 5Y-12.95%
PM growth 3Y-20.33%
PM growth 5Y-16.53%
GM growth 3Y-3.16%
GM growth 5Y-4.44%
F-Score6
Asset Turnover0.62
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.71 | ||
| Debt/FCF | 5.47 | ||
| Debt/EBITDA | 3.14 | ||
| Cap/Depr | 45.83% | ||
| Cap/Sales | 3.79% | ||
| Interest Coverage | 3.82 | ||
| Cash Conversion | 91.56% | ||
| Profit Quality | 307% | ||
| Current Ratio | 1.44 | ||
| Quick Ratio | 1.08 | ||
| Altman-Z | 1.82 |
F-Score6
WACC5.21%
ROIC/WACC0.74
Cap/Depr(3y)41.32%
Cap/Depr(5y)47.87%
Cap/Sales(3y)3.79%
Cap/Sales(5y)4.49%
Profit Quality(3y)300.36%
Profit Quality(5y)267.36%
High Growth Momentum
Growth
EPS 1Y (TTM)17.17%
EPS 3Y-1.97%
EPS 5Y-6.43%
EPS Q2Q%30%
EPS Next Y17.76%
EPS Next 2Y13.98%
EPS Next 3Y15.29%
EPS Next 5Y13.25%
Revenue 1Y (TTM)0.53%
Revenue growth 3Y3.15%
Revenue growth 5Y2.04%
Sales Q2Q%0.55%
Revenue Next Year1.28%
Revenue Next 2Y2.27%
Revenue Next 3Y3.09%
Revenue Next 5Y3.89%
EBIT growth 1Y2.71%
EBIT growth 3Y-10.72%
EBIT growth 5Y-11.17%
EBIT Next Year96.66%
EBIT Next 3Y30.5%
EBIT Next 5Y19.14%
FCF growth 1Y14.07%
FCF growth 3Y1.25%
FCF growth 5Y3.45%
OCF growth 1Y14.41%
OCF growth 3Y-1.4%
OCF growth 5Y-1.45%