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Side-by-side financial comparison of Fresenius Medical Care AG (FMS) and VIEMED HEALTHCARE, INC. (VMD). 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 $76.2M, roughly 71.9× VIEMED HEALTHCARE, INC.). Fresenius Medical Care AG runs the higher net margin — 7.9% vs 7.4%, a 0.5% gap on every dollar of revenue. On growth, VIEMED HEALTHCARE, INC. posted the faster year-over-year revenue change (25.5% vs -0.3%).
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.
Viemed Healthcare, Inc. is a medical technology firm specializing in respiratory care solutions. It develops, manufactures and distributes portable ventilators, respiratory therapy devices and related support services, catering to acute care, post-acute care and home care segments across North America, Europe and key Asia-Pacific markets for patients with respiratory conditions.
FMS vs VMD — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $5.5B | $76.2M |
| Net Profit | $434.2M | $5.6M |
| Gross Margin | 27.4% | 57.9% |
| Operating Margin | 11.7% | 11.0% |
| Net Margin | 7.9% | 7.4% |
| Revenue YoY | -0.3% | 25.5% |
| Net Profit YoY | 240.4% | 30.7% |
| EPS (diluted) | — | $0.14 |
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 | $76.2M | ||
| Q3 25 | — | $71.9M | ||
| Q2 25 | — | $63.1M | ||
| Q1 25 | — | $59.1M | ||
| Q4 24 | $5.5B | $60.7M | ||
| Q3 24 | — | $58.0M | ||
| Q2 24 | — | $55.0M | ||
| Q1 24 | — | $50.6M |
| Q4 25 | $434.2M | $5.6M | ||
| Q3 25 | — | $3.5M | ||
| Q2 25 | — | $3.2M | ||
| Q1 25 | — | $2.6M | ||
| Q4 24 | $127.6M | $4.3M | ||
| Q3 24 | — | $3.9M | ||
| Q2 24 | — | $1.5M | ||
| Q1 24 | — | $1.6M |
| Q4 25 | 27.4% | 57.9% | ||
| Q3 25 | — | 57.5% | ||
| Q2 25 | — | 58.3% | ||
| Q1 25 | — | 56.3% | ||
| Q4 24 | 25.0% | 59.5% | ||
| Q3 24 | — | 59.3% | ||
| Q2 24 | — | 59.8% | ||
| Q1 24 | — | 58.9% |
| Q4 25 | 11.7% | 11.0% | ||
| Q3 25 | — | 7.8% | ||
| Q2 25 | — | 8.1% | ||
| Q1 25 | — | 6.5% | ||
| Q4 24 | 5.1% | 10.6% | ||
| Q3 24 | — | 9.7% | ||
| Q2 24 | — | 6.6% | ||
| Q1 24 | — | 4.4% |
| Q4 25 | 7.9% | 7.4% | ||
| Q3 25 | — | 4.9% | ||
| Q2 25 | — | 5.0% | ||
| Q1 25 | — | 4.4% | ||
| Q4 24 | 2.3% | 7.1% | ||
| Q3 24 | — | 6.7% | ||
| Q2 24 | — | 2.7% | ||
| Q1 24 | — | 3.2% |
| Q4 25 | — | $0.14 | ||
| Q3 25 | — | $0.09 | ||
| Q2 25 | — | $0.08 | ||
| Q1 25 | — | $0.06 | ||
| Q4 24 | — | $0.10 | ||
| Q3 24 | — | $0.10 | ||
| Q2 24 | — | $0.04 | ||
| Q1 24 | — | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.7B | $13.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $15.4B | $141.5M |
| Total Assets | $33.5B | $199.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $13.5M | ||
| Q3 25 | — | $11.1M | ||
| Q2 25 | — | $20.0M | ||
| Q1 25 | — | $10.2M | ||
| Q4 24 | $1.3B | $17.5M | ||
| Q3 24 | — | $11.3M | ||
| Q2 24 | — | $8.8M | ||
| Q1 24 | — | $7.3M |
| Q4 25 | $15.4B | $141.5M | ||
| Q3 25 | — | $133.6M | ||
| Q2 25 | — | $139.7M | ||
| Q1 25 | — | $134.8M | ||
| Q4 24 | $17.0B | $131.4M | ||
| Q3 24 | — | $125.0M | ||
| Q2 24 | — | $119.4M | ||
| Q1 24 | — | $116.3M |
| Q4 25 | $33.5B | $199.2M | ||
| Q3 25 | — | $202.4M | ||
| Q2 25 | — | $184.6M | ||
| Q1 25 | — | $178.1M | ||
| Q4 24 | $36.3B | $177.1M | ||
| Q3 24 | — | $169.5M | ||
| Q2 24 | — | $163.9M | ||
| Q1 24 | — | $154.9M |
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 | $2.9B | $18.4M |
| Free Cash FlowOCF − Capex | — | $9.7M |
| FCF MarginFCF / Revenue | — | 12.7% |
| Capex IntensityCapex / Revenue | — | 11.5% |
| Cash ConversionOCF / Net Profit | 6.67× | 3.27× |
| TTM Free Cash FlowTrailing 4 quarters | — | $11.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.9B | $18.4M | ||
| Q3 25 | — | $18.4M | ||
| Q2 25 | — | $12.3M | ||
| Q1 25 | — | $2.9M | ||
| Q4 24 | $2.6B | $15.0M | ||
| Q3 24 | — | $12.7M | ||
| Q2 24 | — | $10.2M | ||
| Q1 24 | — | $1.2M |
| Q4 25 | — | $9.7M | ||
| Q3 25 | — | $10.7M | ||
| Q2 25 | — | $4.1M | ||
| Q1 25 | — | $-12.6M | ||
| Q4 24 | — | $3.2M | ||
| Q3 24 | — | $1.7M | ||
| Q2 24 | — | $1.2M | ||
| Q1 24 | — | $-4.8M |
| Q4 25 | — | 12.7% | ||
| Q3 25 | — | 14.9% | ||
| Q2 25 | — | 6.5% | ||
| Q1 25 | — | -21.4% | ||
| Q4 24 | — | 5.2% | ||
| Q3 24 | — | 3.0% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | -9.5% |
| Q4 25 | — | 11.5% | ||
| Q3 25 | — | 10.6% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 26.2% | ||
| Q4 24 | — | 19.5% | ||
| Q3 24 | — | 19.0% | ||
| Q2 24 | — | 16.3% | ||
| Q1 24 | — | 11.9% |
| Q4 25 | 6.67× | 3.27× | ||
| Q3 25 | — | 5.23× | ||
| Q2 25 | — | 3.88× | ||
| Q1 25 | — | 1.09× | ||
| Q4 24 | 20.20× | 3.47× | ||
| Q3 24 | — | 3.29× | ||
| Q2 24 | — | 6.94× | ||
| Q1 24 | — | 0.73× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
