FMCQF (Fresenius Medical Care AG) Cyclically Adjusted PS Ratio: (As of Aug. 08, 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 $51.44
GF Value $47.64
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 1.05 0.50 0.58 0.64 0.58

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 0.70 0.63 0.58 0.54 0.55

FMCQF vs HCA, THC, DVA: 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)
=20.86/131.3638*131.3638
=20.860

Current CPI (Jun. 2026) = 131.3638.

Fresenius Medical Care AG Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 15.449 101.017 20.090
201612 15.136 101.217 19.644
201703 15.784 101.417 20.445
201706 16.266 102.117 20.925
201709 16.856 102.717 21.557
201712 16.840 102.617 21.557
201803 15.996 102.917 20.417
201806 15.996 104.017 20.201
201809 15.449 104.718 19.380
201812 15.940 104.217 20.092
201903 15.227 104.217 19.193
201906 16.179 105.718 20.104
201909 16.145 106.018 20.005
201912 17.004 105.818 21.109
202003 16.637 105.718 20.673
202006 17.532 106.618 21.601
202009 17.739 105.818 22.022
202012 18.279 105.518 22.756
202103 17.105 107.518 20.899
202106 17.770 108.486 21.517
202109 17.825 109.435 21.397
202112 17.921 110.384 21.327
202203 17.092 113.968 19.701
202206 17.153 115.760 19.465
202209 17.197 118.818 19.013
202212 18.040 119.345 19.857
202303 17.166 122.402 18.423
202306 17.816 123.140 19.006
202309 17.955 124.195 18.991
202312 18.538 123.773 19.675
202403 17.502 125.038 18.387
202406 17.486 125.882 18.248
202409 18.006 126.198 18.743
202412 18.146 127.041 18.763
202503 17.986 127.779 18.491
202506 18.836 128.412 19.269
202509 19.628 129.255 19.948
202512 20.767 129.361 21.089
202603 19.372 131.258 19.388
202606 20.860 131.364 20.860

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 overvalued. The current stock price of $51.44 is trading 8% above its estimated GF Value™ of $47.64. GuruFocus considers Fresenius Medical Care AG to be Fairly Valued.

Key valuation signals for FMCQF:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: $47.64 vs. price of $51.44 (8% above 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.

$51.44
Price
$47.64
GF Value