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Side-by-side financial comparison of Expedia Group (EXPE) 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 $3.5B, roughly 1.5× Expedia Group). Fresenius Medical Care AG runs the higher net margin — 7.9% vs 5.8%, a 2.2% gap on every dollar of revenue. On growth, Expedia Group posted the faster year-over-year revenue change (18.7% vs -0.3%).

Expedia Inc. is an online travel agency owned by Expedia Group, based in Seattle. The website and mobile app can be used to book airline tickets, hotel reservations, car rentals, cruise ships, activities and vacation rentals. Expedia.com was launched on October 22, 1996 by Microsoft.

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.

EXPE vs FMS — Head-to-Head

Bigger by revenue
FMS
FMS
1.5× larger
FMS
$5.5B
$3.5B
EXPE
Growing faster (revenue YoY)
EXPE
EXPE
+19.0% gap
EXPE
18.7%
-0.3%
FMS
Higher net margin
FMS
FMS
2.2% more per $
FMS
7.9%
5.8%
EXPE

Income Statement — Q1 FY2026 vs Q4 FY2025

Metric
EXPE
EXPE
FMS
FMS
Revenue
$3.5B
$5.5B
Net Profit
$205.0M
$434.2M
Gross Margin
27.4%
Operating Margin
11.8%
11.7%
Net Margin
5.8%
7.9%
Revenue YoY
18.7%
-0.3%
Net Profit YoY
202.5%
240.4%
EPS (diluted)
$1.56

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.

Revenue
EXPE
EXPE
FMS
FMS
Q1 26
$3.5B
Q4 25
$3.5B
$5.5B
Q3 25
$4.4B
Q2 25
$3.8B
Q1 25
$3.0B
Q4 24
$3.2B
$5.5B
Q3 24
$4.1B
Q2 24
$3.6B
Net Profit
EXPE
EXPE
FMS
FMS
Q1 26
$205.0M
Q4 25
$205.0M
$434.2M
Q3 25
$959.0M
Q2 25
$330.0M
Q1 25
$-200.0M
Q4 24
$299.0M
$127.6M
Q3 24
$684.0M
Q2 24
$386.0M
Gross Margin
EXPE
EXPE
FMS
FMS
Q1 26
Q4 25
27.4%
Q3 25
Q2 25
Q1 25
Q4 24
25.0%
Q3 24
Q2 24
Operating Margin
EXPE
EXPE
FMS
FMS
Q1 26
11.8%
Q4 25
11.8%
11.7%
Q3 25
23.5%
Q2 25
12.8%
Q1 25
-2.3%
Q4 24
6.8%
5.1%
Q3 24
18.8%
Q2 24
12.7%
Net Margin
EXPE
EXPE
FMS
FMS
Q1 26
5.8%
Q4 25
5.8%
7.9%
Q3 25
21.7%
Q2 25
8.7%
Q1 25
-6.7%
Q4 24
9.4%
2.3%
Q3 24
16.8%
Q2 24
10.8%
EPS (diluted)
EXPE
EXPE
FMS
FMS
Q1 26
$1.56
Q4 25
$1.56
Q3 25
$7.33
Q2 25
$2.48
Q1 25
$-1.56
Q4 24
$2.10
Q3 24
$5.04
Q2 24
$2.80

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
EXPE
EXPE
FMS
FMS
Cash + ST InvestmentsLiquidity on hand
$5.7B
$1.7B
Total DebtLower is stronger
$6.2B
Stockholders' EquityBook value
$1.3B
$15.4B
Total Assets
$24.5B
$33.5B
Debt / EquityLower = less leverage
4.80×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
EXPE
EXPE
FMS
FMS
Q1 26
$5.7B
Q4 25
$5.7B
$1.7B
Q3 25
$6.2B
Q2 25
$6.7B
Q1 25
$6.1B
Q4 24
$4.5B
$1.3B
Q3 24
$4.9B
Q2 24
$6.3B
Total Debt
EXPE
EXPE
FMS
FMS
Q1 26
$6.2B
Q4 25
$6.2B
Q3 25
$6.2B
Q2 25
$6.2B
Q1 25
$6.2B
Q4 24
$6.3B
Q3 24
$6.3B
Q2 24
$6.3B
Stockholders' Equity
EXPE
EXPE
FMS
FMS
Q1 26
$1.3B
Q4 25
$1.3B
$15.4B
Q3 25
$1.3B
Q2 25
$836.0M
Q1 25
$1.1B
Q4 24
$1.6B
$17.0B
Q3 24
$1.3B
Q2 24
$889.0M
Total Assets
EXPE
EXPE
FMS
FMS
Q1 26
$24.5B
Q4 25
$24.5B
$33.5B
Q3 25
$25.1B
Q2 25
$27.0B
Q1 25
$26.1B
Q4 24
$22.4B
$36.3B
Q3 24
$23.4B
Q2 24
$25.9B
Debt / Equity
EXPE
EXPE
FMS
FMS
Q1 26
4.80×
Q4 25
4.80×
Q3 25
4.65×
Q2 25
7.43×
Q1 25
5.79×
Q4 24
4.02×
Q3 24
4.74×
Q2 24
7.04×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
EXPE
EXPE
FMS
FMS
Operating Cash FlowLast quarter
$2.9B
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
6.67×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
EXPE
EXPE
FMS
FMS
Q1 26
Q4 25
$304.0M
$2.9B
Q3 25
$-497.0M
Q2 25
$1.1B
Q1 25
$3.0B
Q4 24
$198.0M
$2.6B
Q3 24
$-1.5B
Q2 24
$1.5B
Free Cash Flow
EXPE
EXPE
FMS
FMS
Q1 26
Q4 25
$119.0M
Q3 25
$-686.0M
Q2 25
$921.0M
Q1 25
$2.8B
Q4 24
$7.0M
Q3 24
$-1.7B
Q2 24
$1.3B
FCF Margin
EXPE
EXPE
FMS
FMS
Q1 26
Q4 25
3.4%
Q3 25
-15.5%
Q2 25
24.3%
Q1 25
92.2%
Q4 24
0.2%
Q3 24
-41.6%
Q2 24
36.7%
Capex Intensity
EXPE
EXPE
FMS
FMS
Q1 26
Q4 25
5.2%
Q3 25
4.3%
Q2 25
5.3%
Q1 25
6.6%
Q4 24
6.0%
Q3 24
4.8%
Q2 24
5.5%
Cash Conversion
EXPE
EXPE
FMS
FMS
Q1 26
Q4 25
1.48×
6.67×
Q3 25
-0.52×
Q2 25
3.40×
Q1 25
Q4 24
0.66×
20.20×
Q3 24
-2.18×
Q2 24
3.89×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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