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FMS vs. THC: Fresenius Medical Care vs. Tenet Healthcare Stock Comparison

How do Fresenius Medical Care (FMS) and Tenet Healthcare (THC) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Fresenius Medical Care (FMS) and Tenet Healthcare (THC) both belong to the Health Care Providers & Services industry, though FMS is classified under Health Care Services while THC falls under Health Care Facilities.

Tenet Healthcare (THC) trades as ordinary local shares, while Fresenius Medical Care (FMS) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Fresenius Medical Care (FMS) and Tenet Healthcare (THC)
Profile ItemFMSTHC
NameFresenius Medical Care AG - Depositary ReceiptTenet Healthcare Corp.
Country/RegionGermanyUnited States
GICS SectorHealth CareHealth Care
GICS Industry GroupHealth Care Equipment & ServicesHealth Care Equipment & Services
GICS IndustryHealth Care Providers & ServicesHealth Care Providers & Services
GICS Sub-IndustryHealth Care ServicesHealth Care Facilities
Market Capitalization12.15 billion USD22.55 billion USD
CurrencyUSDUSD
ExchangeNYSENYSE
Listing DateSeptember 17, 1996March 17, 1980
Security TypeADRCommon Stock

Price Performance

Cumulative Growth

FMS
THC
GSPC
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Fresenius Medical Care (FMS) vs. Tenet Healthcare (THC), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Fresenius Medical Care (FMS) and Tenet Healthcare (THC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Fresenius Medical Care (FMS) and Tenet Healthcare (THC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Fresenius Medical Care (FMS) and Tenet Healthcare (THC)
MetricFMSTHC
Total Return (1Y)-0.71%43.40%
Total Return (3Y, Annualized)13.88%77.47%
Total Return (5Y, Annualized)-4.69%29.92%

Risk Profile

Drawdown History

FMS
THC
GSPC
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Fresenius Medical Care (FMS) vs. Tenet Healthcare (THC), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Fresenius Medical Care (FMS) and Tenet Healthcare (THC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Fresenius Medical Care (FMS) and Tenet Healthcare (THC)
MetricFMSTHC
Volatility (1Y, Annualized)30.61%43.80%
Beta (5Y)0.771.17
Max Drawdown (5Y)-62.33%-58.88%
Avg. Volume (3M)954.21K768.24K

Risk-Adjusted Performance

Risk-Return Positioning

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FMS and THC are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Fresenius Medical Care (FMS) and Tenet Healthcare (THC)
MetricFMSTHC
Sharpe Ratio (1Y)-0.160.89
Sortino Ratio (1Y)-0.211.71

Profitability

ROE (TTM)

Tenet Healthcare (THC) at 41.70% sits in the top ROE quartile, while Fresenius Medical Care (FMS) at 7.84% is closer to the peer norm — stronger capital efficiency for THC.

FMS

Health Care Equipment & Services industry group

7.84%

Max
47.61%
Q3
14.36%
FMS
7.84%
Median
5.45%
Q1
-10.67%
Min
-47.01%

THC

Health Care Equipment & Services industry group

41.70%

Max
47.61%
THC
41.70%
Q3
14.36%
Median
5.45%
Q1
-10.67%
Min
-47.01%
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Fresenius Medical Care (FMS) vs. Tenet Healthcare (THC): A comparison of their ROE against the Health Care Equipment & Services industry group benchmark.

Net Margin (TTM)

Tenet Healthcare (THC) at 13.09% retains a top-quartile share of revenue as profit, ahead of Fresenius Medical Care (FMS) at 4.22%, which keeps about the industry-typical share.

FMS

Health Care Equipment & Services industry group

4.22%

Max
29.35%
Q3
9.33%
FMS
4.22%
Median
2.18%
Q1
-6.29%
Min
-28.46%

THC

Health Care Equipment & Services industry group

13.09%

Max
29.35%
THC
13.09%
Q3
9.33%
Median
2.18%
Q1
-6.29%
Min
-28.46%
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Fresenius Medical Care (FMS) vs. Tenet Healthcare (THC): A comparison of their net margin against the Health Care Equipment & Services industry group benchmark.

Operating Margin (TTM)

Tenet Healthcare (THC) at 19.04% operates in the top operating margin quartile, ahead of Fresenius Medical Care (FMS) at 9.63%, which runs around its industry’s norm.

FMS

Health Care Equipment & Services industry group

9.63%

Max
35.43%
Q3
14.14%
FMS
9.63%
Median
6.81%
Q1
-0.28%
Min
-16.29%

THC

Health Care Equipment & Services industry group

19.04%

Max
35.43%
THC
19.04%
Q3
14.14%
Median
6.81%
Q1
-0.28%
Min
-16.29%
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Fresenius Medical Care (FMS) vs. Tenet Healthcare (THC): A comparison of their operating margin against the Health Care Equipment & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Fresenius Medical Care (FMS) and Tenet Healthcare (THC)
MetricFMSTHC
ROE (TTM)7.84%41.70%
ROA (TTM)3.94%8.68%
Net Margin (TTM)4.22%13.09%
Operating Margin (TTM)9.63%19.04%
Gross Margin (TTM)26.46%42.47%

Growth

Revenue Growth

Both Fresenius Medical Care (FMS) at 1.51% and Tenet Healthcare (THC) at 3.07% post bottom-quartile revenue growth versus peers, pointing to weaker demand or pricing momentum than typical rivals.

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Fresenius Medical Care (FMS) vs. Tenet Healthcare (THC): A comparison of their Revenue Growth across different time periods.

EPS Growth

Fresenius Medical Care (FMS) at 83.61% sits in the top EPS growth quartile, while Tenet Healthcare (THC) at -52.63% is in the bottom quartile, showing a clear gap in earnings momentum.

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Fresenius Medical Care (FMS) vs. Tenet Healthcare (THC): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Fresenius Medical Care (FMS) and Tenet Healthcare (THC)
MetricFMSTHC
Revenue Growth (YoY)1.51%3.07%
Revenue Growth (3Y CAGR)0.39%3.58%
EPS Growth (YoY)83.61%-52.63%
EPS Growth (3Y CAGR)13.47%59.88%

Financial Strength

Current Ratio (MRQ)

Tenet Healthcare (THC) at 1.59 keeps current ratio within its industry’s typical mid-range, while Fresenius Medical Care (FMS) at 0.99 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for FMS.

FMS

Health Care Equipment & Services industry group

0.99

Max
7.59
Q3
4.00
Median
1.98
Q1
1.37
FMS
0.99
Min
0.30

THC

Health Care Equipment & Services industry group

1.59

Max
7.59
Q3
4.00
Median
1.98
THC
1.59
Q1
1.37
Min
0.30
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Fresenius Medical Care (FMS) vs. Tenet Healthcare (THC): A comparison of their current ratio against the Health Care Equipment & Services industry group benchmark.

Debt / Equity (MRQ)

Fresenius Medical Care (FMS) at 0.79 carries an industry-typical debt-to-equity mix, while Tenet Healthcare (THC) at 1.38 uses more debt funding than most peers.

FMS

Health Care Equipment & Services industry group

0.79

Max
1.88
Q3
0.91
FMS
0.79
Median
0.58
Q1
0.16
Min
0.00

THC

Health Care Equipment & Services industry group

1.38

Max
1.88
THC
1.38
Q3
0.91
Median
0.58
Q1
0.16
Min
0.00
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Fresenius Medical Care (FMS) vs. Tenet Healthcare (THC): A comparison of their debt-to-equity ratio against the Health Care Equipment & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Fresenius Medical Care (FMS) and Tenet Healthcare (THC)
MetricFMSTHC
Current Ratio (MRQ)0.991.59
Debt / Equity (MRQ)0.791.38
Net Debt / EBITDA3.632.06

Dividends

Dividend Yield (TTM)

Tenet Healthcare (THC) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Fresenius Medical Care (FMS) reports a yield of 6.30%, ranking against industry peers normally.

FMS

Health Care Equipment & Services industry group

6.30%

FMS
6.30%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%

THC

Health Care Equipment & Services industry group

0.00%

THC
0.00%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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Fresenius Medical Care (FMS) vs. Tenet Healthcare (THC): A comparison of their dividend yield against the Health Care Equipment & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Tenet Healthcare (THC) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Fresenius Medical Care (FMS) reports a payout of 50.14%, ranking against industry peers normally.

FMS

Health Care Equipment & Services industry group

50.14%

FMS
50.14%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%

THC

Health Care Equipment & Services industry group

0.00%

THC
0.00%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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Fresenius Medical Care (FMS) vs. Tenet Healthcare (THC): A comparison of their payout ratio against the Health Care Equipment & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Fresenius Medical Care (FMS) and Tenet Healthcare (THC)
MetricFMSTHC
Dividend Yield (TTM)6.30%0.00%
Dividend Payout Ratio (TTM)50.14%0.00%

Valuation

P/E Ratio (TTM)

Both Fresenius Medical Care (FMS) at 13.53 and Tenet Healthcare (THC) at 8.26 sit in the cheaper earnings-multiple quartile for P/E ratio, with the market paying less for a dollar of trailing earnings than it pays for typical peers.

FMS

Health Care Equipment & Services industry group

13.53

Max
80.41
Q3
47.62
Median
29.93
Q1
21.19
FMS
13.53
Min
4.21

THC

Health Care Equipment & Services industry group

8.26

Max
80.41
Q3
47.62
Median
29.93
Q1
21.19
THC
8.26
Min
4.21
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Fresenius Medical Care (FMS) vs. Tenet Healthcare (THC): A comparison of their P/E ratio against the Health Care Equipment & Services industry group benchmark.

P/S Ratio (TTM)

Both Fresenius Medical Care (FMS) at 0.62 and Tenet Healthcare (THC) at 1.02 fetch a relatively low price per dollar of sales, landing in the cheaper P/S ratio quartile of their industries.

FMS

Health Care Equipment & Services industry group

0.62

Max
8.80
Q3
4.32
Median
2.13
Q1
1.10
FMS
0.62
Min
0.03

THC

Health Care Equipment & Services industry group

1.02

Max
8.80
Q3
4.32
Median
2.13
Q1
1.10
THC
1.02
Min
0.03
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Fresenius Medical Care (FMS) vs. Tenet Healthcare (THC): A comparison of their P/S ratio against the Health Care Equipment & Services industry group benchmark.

P/B Ratio (MRQ)

Fresenius Medical Care (FMS) at 0.85 sits in the lower P/B ratio quartile against book while Tenet Healthcare (THC) at 4.14 is valued near its industry’s middle — FMS is cheaper on assets, though weigh it against ROE and asset quality.

FMS

Health Care Equipment & Services industry group

0.85

Max
11.68
Q3
6.12
Median
3.00
Q1
1.73
FMS
0.85
Min
-1.31

THC

Health Care Equipment & Services industry group

4.14

Max
11.68
Q3
6.12
THC
4.14
Median
3.00
Q1
1.73
Min
-1.31
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Fresenius Medical Care (FMS) vs. Tenet Healthcare (THC): A comparison of their P/B ratio against the Health Care Equipment & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Fresenius Medical Care (FMS) and Tenet Healthcare (THC)
MetricFMSTHC
P/E Ratio (TTM)13.538.26
P/S Ratio (TTM)0.621.02
P/B Ratio (MRQ)0.854.14
Free Cash Flow Yield (TTM)12.29%8.99%