FMCQF (Fresenius Medical Care AG) Cyclically Adjusted PS Ratio: (As of Sep. 22, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FMCQF Fresenius Medical Care AG FMCQF
74 GF Score
Price $44.12
GF Value $48.15
Valuation Fairly Valued
! 3 Warning Signs
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What is Fresenius Medical Care AG Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Fresenius Medical Care AG  (OTCPK:FMCQF) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Fresenius Medical Care AG Cyclically Adjusted PS Ratio Related Terms


Fresenius Medical Care AG Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Fresenius Medical Care AG's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Fresenius Medical Care AG Cyclically Adjusted PS Ratio Chart

Fresenius Medical Care AG Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.01 0.45 0.56 0.59 0.59

Fresenius Medical Care AG Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.75 0.65 0.59 0.55 0.56

FMCQF vs HCA, THC, EHC: Cyclically Adjusted PS Ratio Comparison

For the Medical Care Facilities subindustry, Fresenius Medical Care AG's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Fresenius Medical Care AG Cyclically Adjusted PS Ratio vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Fresenius Medical Care AG's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Fresenius Medical Care AG's Cyclically Adjusted PS Ratio falls into.


FMCQF
74GF Score
Fresenius Medical Care AG FMCQF
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Fresenius Medical Care AG Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Fresenius Medical Care AG's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Fresenius Medical Care AG's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=21.053/131.3638*131.3638
=21.053

Current CPI (Jun. 2026) = 131.3638.

Fresenius Medical Care AG Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 15.329 101.017 19.934
201612 15.490 101.217 20.104
201703 15.802 101.417 20.468
201706 16.014 102.117 20.600
201709 16.563 102.717 21.182
201712 16.824 102.617 21.537
201803 15.893 102.917 20.286
201806 16.338 104.017 20.633
201809 15.358 104.718 19.266
201812 15.967 104.217 20.126
201903 15.302 104.217 19.288
201906 16.083 105.718 19.985
201909 16.299 106.018 20.196
201912 16.886 105.818 20.963
202003 16.587 105.718 20.611
202006 17.130 106.618 21.106
202009 17.592 105.818 21.839
202012 17.911 105.518 22.298
202103 17.307 107.518 21.145
202106 17.758 108.486 21.503
202109 17.861 109.435 21.440
202112 18.103 110.384 21.544
202203 17.410 113.968 20.067
202206 17.293 115.760 19.624
202209 17.495 118.818 19.342
202212 17.361 119.345 19.109
202303 17.202 122.402 18.461
202306 17.898 123.140 19.093
202309 18.302 124.195 19.358
202312 18.278 123.773 19.399
202403 17.476 125.038 18.360
202406 17.489 125.882 18.251
202409 17.822 126.198 18.552
202412 18.486 127.041 19.115
202503 17.510 127.779 18.001
202506 18.510 128.412 18.936
202509 19.543 129.255 19.862
202512 20.640 129.361 20.960
202603 19.604 131.258 19.620
202606 21.053 131.364 21.053

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Fresenius Medical Care AG (FMCQF) Overvalued in 2026?

Based on GuruFocus' analysis, Fresenius Medical Care AG stock appears to be undervalued. The current stock price of $44.12 is trading 8.4% below its estimated GF Value™ of $48.15. GuruFocus considers Fresenius Medical Care AG to be Fairly Valued.

Key valuation signals for FMCQF:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: $48.15 vs. price of $44.12 (8.4% below fair value)
  • GF Score™: 74/100 with 3 warning signs

No single metric tells the full story. See the FMCQF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Fresenius Medical Care AG Business Description

Address Else-Kroner-Strasse 1, Bad Homburg, HE, DEU, 61352
Fresenius Medical Care is the largest dialysis company in the world, treating nearly 300,000 patients from about 3,600 clinics worldwide as of December 2025. In addition to providing dialysis services, the firm is a leading supplier of dialysis products, including machines, dialyzers, and concentrates. Fresenius accounts for about 35% of the global dialysis products market, creating the world's only fully integrated dialysis business. Services account for about three-fourths of sales, while the balance is generated from medical technology products that enable dialysis treatments.
74GF Score

Get the complete analysis for FMCQF

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$44.12
Price
$48.15
GF Value