Fresenius Medical Care AG I

FME.DE

Quality scores

Data as of Sep 5, 2026

8 / 9

Strong

8/9 — SOLID fundamentals (high quality).

PassROA > 0 — ROA last year = 3.16 %
PassFCF > 0 — FCF last year = 1,765.63 mill.
PassFCF > net income (accrual quality) — FCF 1,765.63 vs. net income 978.37 (mill.)
PassRising ROA — ROA 3.16 % vs. prior year 1.60 %

PassLower long-term leverage — long-term debt/assets 0.18 vs. prior 0.19
FailRising current ratio (more liquidity) — Current ratio 1.26 vs. prior 1.40
PassNo dilution (shares do not grow) — Shares 279.29 mill. vs. prior 293.41 mill.

Z-Score (original)

1.83

Grey zone

Z''-Score (non-manufacturing)

6.13

Safe zone

Ratio	Value
X1 — Working capital / Total assets	0.05
X2 — Retained earnings / Total assets	0.39
X3 — EBIT / Total assets	0.06
X4 — Market cap / Total liabilities	0.64
X4 — Book equity / Total liabilities	0.80
X5 — Sales / Total assets	0.63