vs
Side-by-side financial comparison of Brookfield Infrastructure Partners L.P. (BIP) and Fresenius Medical Care AG (FMS). Click either name above to swap in a different company.
Fresenius Medical Care AG is the larger business by last-quarter revenue ($5.5B vs $5.4B, roughly 1.0× Brookfield Infrastructure Partners L.P.). Fresenius Medical Care AG runs the higher net margin — 7.9% vs 4.6%, a 3.3% gap on every dollar of revenue. On growth, Brookfield Infrastructure Partners L.P. posted the faster year-over-year revenue change (5.7% vs -0.3%).
Brookfield Infrastructure Partners L.P. is a publicly traded limited partnership with corporate headquarters in Toronto, Canada, that engages in the acquisition and management of infrastructure assets on a global basis.
Fresenius Medical Care AG & Co. KGaA is a German healthcare company which provides kidney dialysis services through a network of 4,171 outpatient dialysis centers, serving 345,425 patients. The company primarily treats end-stage renal disease (ESRD), which requires patients to undergo dialysis 3 times per week for the rest of their lives.
BIP vs FMS — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.4B | $5.5B |
| Net Profit | $252.0M | $434.2M |
| Gross Margin | 26.4% | 27.4% |
| Operating Margin | 24.4% | 11.7% |
| Net Margin | 4.6% | 7.9% |
| Revenue YoY | 5.7% | -0.3% |
| Net Profit YoY | 37.0% | 240.4% |
| EPS (diluted) | $-0.03 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $5.5B | ||
| Q2 25 | $5.4B | — | ||
| Q4 24 | — | $5.5B | ||
| Q2 24 | $5.1B | — | ||
| Q2 23 | $4.3B | — | ||
| Q2 22 | $3.7B | — |
| Q4 25 | — | $434.2M | ||
| Q2 25 | $252.0M | — | ||
| Q4 24 | — | $127.6M | ||
| Q2 24 | $184.0M | — | ||
| Q2 23 | $773.0M | — | ||
| Q2 22 | $425.0M | — |
| Q4 25 | — | 27.4% | ||
| Q2 25 | 26.4% | — | ||
| Q4 24 | — | 25.0% | ||
| Q2 24 | 24.6% | — | ||
| Q2 23 | 22.9% | — | ||
| Q2 22 | 26.3% | — |
| Q4 25 | — | 11.7% | ||
| Q2 25 | 24.4% | — | ||
| Q4 24 | — | 5.1% | ||
| Q2 24 | 22.8% | — | ||
| Q2 23 | 20.4% | — | ||
| Q2 22 | 23.4% | — |
| Q4 25 | — | 7.9% | ||
| Q2 25 | 4.6% | — | ||
| Q4 24 | — | 2.3% | ||
| Q2 24 | 3.6% | — | ||
| Q2 23 | 18.2% | — | ||
| Q2 22 | 11.5% | — |
| Q4 25 | — | — | ||
| Q2 25 | $-0.03 | — | ||
| Q4 24 | — | — | ||
| Q2 24 | $-0.10 | — | ||
| Q2 23 | $0.38 | — | ||
| Q2 22 | $0.13 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.3B | $1.7B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $29.6B | $15.4B |
| Total Assets | $108.7B | $33.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.7B | ||
| Q2 25 | $2.3B | — | ||
| Q4 24 | — | $1.3B | ||
| Q2 24 | $1.3B | — | ||
| Q2 23 | $1.4B | — | ||
| Q2 22 | $1.3B | — |
| Q4 25 | — | $15.4B | ||
| Q2 25 | $29.6B | — | ||
| Q4 24 | — | $17.0B | ||
| Q2 24 | $30.1B | — | ||
| Q2 23 | $28.6B | — | ||
| Q2 22 | $26.0B | — |
| Q4 25 | — | $33.5B | ||
| Q2 25 | $108.7B | — | ||
| Q4 24 | — | $36.3B | ||
| Q2 24 | $100.9B | — | ||
| Q2 23 | $81.7B | — | ||
| Q2 22 | $73.9B | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.2B | $2.9B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 4.72× | 6.67× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.9B | ||
| Q2 25 | $1.2B | — | ||
| Q4 24 | — | $2.6B | ||
| Q2 24 | $1.1B | — | ||
| Q2 23 | $970.0M | — | ||
| Q2 22 | $734.0M | — |
| Q4 25 | — | 6.67× | ||
| Q2 25 | 4.72× | — | ||
| Q4 24 | — | 20.20× | ||
| Q2 24 | 5.74× | — | ||
| Q2 23 | 1.25× | — | ||
| Q2 22 | 1.73× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
