Key Ratios
Key ratios for the Fresenius Group are shown in the summary below. Fresenius SE has published consolidated financial statements based on US GAAP accounting standards since fiscal 2002. As from fiscal year 2005 Fresenius prepares and publishes consolidated financial statements according to IFRS. Since our largest subsidiary Fresenius Medical Care reports on the basis of US GAAP, we continue to present our practice and therefore prepare and publish a set of US GAAP consolidated financial statements in addition to the statutory reporting to IFRS. Some of the key figures and ratios listed can also be found in our 10-Year Summary.
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Profitability ratios
EBITDA margin (%):
EBITDA / Sales
| 2009 | 20081 | 2007 | 2006 | 2005 |
| 18.5 | 17.9 | 17.9 | 17.1 | 16.3 |
EBIT margin (%):
EBIT / Sales
| 2009 | 20081 | 2007 | 2006 | 2005 |
| 14.5 | 14.0 | 14.2 | 13.4 | 12.3 |
Return on Equity (ROE) (%):
Net income / Shareholders’ Equity
| 2009 | 20081 | 2007 | 20062 | 20053 |
| 12.0 | 10.5 | 12.0 | 10.4 | 11.4 |
2 2006: Pro forma Renal Care Group, excluding first quarter 2006 earnings of divested US dialysis clinics
3 2005: Balance sheet adjusted for acquisition of HELIOS Kliniken
Return on Operation Assets (ROOA) (%):
EBIT x 100 / Operating Assets (average)
 | Total assets |
- | Deferred tax assets |
- | Trade accounts payable |
- | Payments received on account |
= | Operating Assets |
| 2009 | 20081 | 2007 | 20062 | 20053 |
| 10.5 | 9.8 | 11.4 | 10.4 | 11.7 |
1 2008: Pro forma APP Pharmaceuticals and excluding special items from the acquisition
2 2006: Pro forma Renal Care Group, excluding earnings from the divestiture of US dialysis clinics as well as their first quarter 2006 earnings
3 2005: Balance sheet adjusted for acquisition of HELIOS Kliniken
Return on Invested Capital (ROIC) (%):
EBIT - taxes / Invested Capital
| Total assets |
+ | Amortization of goodwill (accumulated) |
- | Deferred tax assets |
- | Cash an cash equivalents |
- | Trade accounts payable |
- | Accruals (without pension accruals) |
- | other liabilities not bearing interest |
= | Invested Capital |
| 2009 | 20081 | 2007 | 20062 | 20053 |
| 8.2 | 7.3 | 8.4 | 7.4 | 8.0 |
1 2008: Pro forma APP Pharmaceuticals and excluding special items from the acquisition
2 2006: Pro forma Renal Care Group, excluding earnings from the divestiture of US dialysis clinics as well as their first quarter 2006 earnings
3 2005: Balance sheet adjusted for acquisition of HELIOS Kliniken
Operating Cashflow as % of Sales:
Operating Cashflow / Sales
| 2009 | 2008 | 2007 | 2006 | 2005 |
| 11.0 | 8.7 | 11.4 | 9.8 | 9.9 |
Debt ratios
Debt / EBITDA
| 2009 | 20081 | 2007 | 2006 | 20052 |
| 3.2 | 3.8 | 2.8 | 3.1 | 2.5 |
2 Including EBITDA of HELIOS of the fiscal year 2005
Net Debt / EBITDA
| 2009 | 20081 | 2007 | 2006 | 20052 |
| 3.0 | 3.6 | 2.6 | 3.0 | 2.3 |
2 Including EBITDA of HELIOS of the fiscal year 2005
EBITDA / Interest
| 2009 | 20081 | 2007 | 2006 | 2005 |
| 4.5 | 4.0 | 5.5 | 4.6 | 6.3 |
Balance Sheet ratios
Equity ratio (%):
(Shareholders’ equity including minority interest / Balance sheet total) x 100
| 2009 | 2008 | 2007 | 2006 | 2005 |
| 37 | 34 | 40 | 38 | 44 |
Other (%):
Depreciation and Amortization / Sales
| 2009 | 20081 | 2007 | 2006 | 2005 |
| 4.0 | 3.9 | 3.7 | 3.7 | 4.1 |
1 2008: Pro forma APP Pharmaceuticals and excluding special items from the acquisition
* since January 1, 2002 amortization of Goodwill according to SFAS 142.