Narrow-moat Fresenius SE held an investor event on its Helios caregiving segment in which it mildly raised near- and intermediate-term guidance for that segment. However, that mildly improved outlook was not material enough to change our EUR 50 fair value estimate, and shares remain significantly undervalued, in our opinion.
Underlying demographic trends and international expansion opportunities should keep Fresenius’ dialysis services and related medical product growth in positive territory as the pandemic recedes.
Until the US achieves universal affordable coverage, policy risks around reimbursement for dialysis services may continue to add risk to the story.
|
Metric
|
FRE
|
ICUI
|
DVA
|
|---|---|---|---|
Price/Earnings (Normalized) | 6.31 | 19.73 | 15.03 |
Price/Book Value | 0.83 | 1.39 | 13.07 |
Price/Sales | 0.59 | 1.26 | 1.04 |
Price/Cash Flow | 13.74 | 10.46 | 6.42 |
|
Metric
|
FRE
|
ICUI
|
DVA
|
|---|---|---|---|
Quick Ratio | 0.60 | 0.92 | 1.30 |
Current Ratio | 1.35 | 2.61 | 1.43 |
Interest Coverage | 2.85 | −0.05 | 4.36 |
|
Metric
|
FRE
|
ICUI
|
DVA
|
|---|---|---|---|
Return on Assets (Normalized) | 2.43% | 3.32% | 6.99% |
Return on Equity (Normalized) | 7.80% | 6.94% | 118.17% |
Return on Invested Capital (Normalized) | 4.23% | 5.84% | 10.75% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
| HCA Healthcare Inc
HCA
| Gdsylpbf | Ntgptc | $85.5 Bil | |||
| Fresenius SE & Co KGaA
FSNUF
| — | Jdwz | $17.4 Bil | |||
| Fresenius SE & Co KGaA ADR
FSNUY
| — | Hvgt | $17.4 Bil | |||
| Tenet Healthcare Corp
THC
| Mdqtmll | Pvhvc | $13.3 Bil | |||
| Universal Health Services Inc Class B
UHS
| — | Blzfbt | $12.4 Bil | |||
| DaVita Inc
DVA
| Mlxgjzss | Mgqyxj | $12.1 Bil | |||
| Bangkok Dusit Medical Services PCL ADR
BDUUY
| — | Htyr | $11.5 Bil | |||
| Bangkok Dusit Medical Services PCL Units Non-Voting Depository Receipt
BDUUF
| — | Qhcj | $11.5 Bil | |||
| Fresenius Medical Care AG ADR
FMS
| Yqxrn | Bpwgp | $11.4 Bil | |||
| AMN Healthcare Services Inc
AMN
| Qtbyjdzp | Hsgvrn | $1.9 Bil |
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