Mixed Results

Fresenius Medical Care reported Q4 2025 revenue of €5.07 billion, a -0.2 % year‑over‑year decline, while non‑GAAP EPS rose to €1.44, indicating stable earnings. The company proposed a fiscal‑year 2025 dividend of €1.49 per share, a 3 % increase from the prior year, amounting to 33 % of adjusted net income. A €1.0 billion share‑buyback program commenced, with the first tranche finished in December 2025. Segment results showed Care Delivery revenue falling 2 %, whereas Value‑Based Care revenue grew 32 %.