CARL ZEISS MEDITEC AG - BR (1AFX.MI) Stock Fundamental Analysis

Europe • Euronext Milan • BIT:1AFX • DE0005313704

28.1 EUR
-0.74 (-2.57%)
Last: Jan 29, 2026, 07:00 PM
Fundamental Rating

5

Overall 1AFX gets a fundamental rating of 5 out of 10. We evaluated 1AFX against 68 industry peers in the Health Care Equipment & Supplies industry. 1AFX has an average financial health and profitability rating. 1AFX is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • In the past year 1AFX was profitable.
  • In the past year 1AFX had a positive cash flow from operations.
  • Each year in the past 5 years 1AFX has been profitable.
  • In the past 5 years 1AFX always reported a positive cash flow from operatings.
1AFX.MI Yearly Net Income VS EBIT VS OCF VS FCF1AFX.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M 200M 300M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 4.15%, 1AFX is in the better half of the industry, outperforming 60.29% of the companies in the same industry.
  • 1AFX's Return On Equity of 6.67% is in line compared to the rest of the industry. 1AFX outperforms 51.47% of its industry peers.
  • 1AFX has a Return On Invested Capital (5.79%) which is comparable to the rest of the industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for 1AFX is below the industry average of 9.62%.
Industry RankSector Rank
ROA 4.15%
ROE 6.67%
ROIC 5.79%
ROA(3y)6.33%
ROA(5y)7.85%
ROE(3y)9.62%
ROE(5y)11.54%
ROIC(3y)7.11%
ROIC(5y)9.66%
1AFX.MI Yearly ROA, ROE, ROIC1AFX.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10

1.3 Margins

  • Looking at the Profit Margin, with a value of 6.34%, 1AFX is in line with its industry, outperforming 52.94% of the companies in the same industry.
  • In the last couple of years the Profit Margin of 1AFX has declined.
  • 1AFX has a Operating Margin (10.03%) which is comparable to the rest of the industry.
  • In the last couple of years the Operating Margin of 1AFX has declined.
  • 1AFX has a Gross Margin of 52.76%. This is comparable to the rest of the industry: 1AFX outperforms 42.65% of its industry peers.
  • 1AFX's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 10.03%
PM (TTM) 6.34%
GM 52.76%
OM growth 3Y-21.67%
OM growth 5Y-5.49%
PM growth 3Y-25.69%
PM growth 5Y-7.11%
GM growth 3Y-3.8%
GM growth 5Y-1.12%
1AFX.MI Yearly Profit, Operating, Gross Margins1AFX.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40 50

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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so 1AFX is still creating some value.
  • Compared to 1 year ago, 1AFX has about the same amount of shares outstanding.
  • The number of shares outstanding for 1AFX has been reduced compared to 5 years ago.
  • 1AFX has a better debt/assets ratio than last year.
1AFX.MI Yearly Shares Outstanding1AFX.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M
1AFX.MI Yearly Total Debt VS Total Assets1AFX.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B

2.2 Solvency

  • 1AFX has an Altman-Z score of 2.95. This is not the best score and indicates that 1AFX is in the grey zone with still only limited risk for bankruptcy at the moment.
  • 1AFX's Altman-Z score of 2.95 is fine compared to the rest of the industry. 1AFX outperforms 63.24% of its industry peers.
  • 1AFX has a debt to FCF ratio of 4.41. This is a neutral value as 1AFX would need 4.41 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 4.41, 1AFX is in line with its industry, outperforming 55.88% of the companies in the same industry.
  • A Debt/Equity ratio of 0.27 indicates that 1AFX is not too dependend on debt financing.
  • 1AFX has a Debt to Equity ratio of 0.27. This is in the better half of the industry: 1AFX outperforms 63.24% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 4.41
Altman-Z 2.95
ROIC/WACC0.85
WACC6.83%
1AFX.MI Yearly LT Debt VS Equity VS FCF1AFX.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M 1B 1.5B 2B

2.3 Liquidity

  • 1AFX has a Current Ratio of 2.35. This indicates that 1AFX is financially healthy and has no problem in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 2.35, 1AFX is in the better half of the industry, outperforming 69.12% of the companies in the same industry.
  • 1AFX has a Quick Ratio of 1.44. This is a normal value and indicates that 1AFX is financially healthy and should not expect problems in meeting its short term obligations.
  • 1AFX has a better Quick ratio (1.44) than 72.06% of its industry peers.
Industry RankSector Rank
Current Ratio 2.35
Quick Ratio 1.44
1AFX.MI Yearly Current Assets VS Current Liabilites1AFX.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • 1AFX shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -19.90%.
  • 1AFX shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 3.32% yearly.
  • 1AFX shows a small growth in Revenue. In the last year, the Revenue has grown by 7.82%.
  • The Revenue has been growing by 10.78% on average over the past years. This is quite good.
EPS 1Y (TTM)-19.9%
EPS 3Y-21.2%
EPS 5Y3.32%
EPS Q2Q%-14.49%
Revenue 1Y (TTM)7.82%
Revenue growth 3Y5.39%
Revenue growth 5Y10.78%
Sales Q2Q%8.27%

3.2 Future

  • Based on estimates for the next years, 1AFX will show a quite strong growth in Earnings Per Share. The EPS will grow by 19.64% on average per year.
  • 1AFX is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.21% yearly.
EPS Next Y20.35%
EPS Next 2Y21.07%
EPS Next 3Y21.31%
EPS Next 5Y19.64%
Revenue Next Year4.23%
Revenue Next 2Y5.18%
Revenue Next 3Y5.72%
Revenue Next 5Y6.21%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
1AFX.MI Yearly Revenue VS Estimates1AFX.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 500M 1B 1.5B 2B 2.5B
1AFX.MI Yearly EPS VS Estimates1AFX.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3

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6

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 17.45, the valuation of 1AFX can be described as rather expensive.
  • Based on the Price/Earnings ratio, 1AFX is valued cheaply inside the industry as 85.29% of the companies are valued more expensively.
  • 1AFX's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 28.25.
  • Based on the Price/Forward Earnings ratio of 14.50, the valuation of 1AFX can be described as correct.
  • 1AFX's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. 1AFX is cheaper than 77.94% of the companies in the same industry.
  • 1AFX's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.50.
Industry RankSector Rank
PE 17.45
Fwd PE 14.5
1AFX.MI Price Earnings VS Forward Price Earnings1AFX.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of 1AFX indicates a rather cheap valuation: 1AFX is cheaper than 85.29% of the companies listed in the same industry.
  • Based on the Price/Free Cash Flow ratio, 1AFX is valued cheaper than 80.88% of the companies in the same industry.
Industry RankSector Rank
P/FCF 18.86
EV/EBITDA 8.65
1AFX.MI Per share data1AFX.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

  • 1AFX's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • 1AFX's earnings are expected to grow with 21.31% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.86
PEG (5Y)5.25
EPS Next 2Y21.07%
EPS Next 3Y21.31%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. Dividend

5.1 Amount

  • 1AFX has a Yearly Dividend Yield of 1.96%.
  • Compared to an average industry Dividend Yield of 1.03, 1AFX pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, 1AFX has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.96%

5.2 History

  • The dividend of 1AFX decreases each year by -1.59%.
Dividend Growth(5Y)-1.59%
Div Incr YearsN/A
Div Non Decr YearsN/A

5.3 Sustainability

  • 1AFX pays out 37.19% of its income as dividend. This is a sustainable payout ratio.
DP37.19%
EPS Next 2Y21.07%
EPS Next 3Y21.31%
1AFX.MI Yearly Income VS Free CF VS Dividend1AFX.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50M 100M 150M 200M 250M
1AFX.MI Dividend Payout.1AFX.MI Dividend Payout, showing the Payout Ratio.1AFX.MI Dividend Payout.PayoutRetained Earnings

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CARL ZEISS MEDITEC AG - BR

BIT:1AFX (1/29/2026, 7:00:00 PM)

28.1

-0.74 (-2.57%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)12-11
Earnings (Next)02-10
Inst Owners25.21%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap2.51B
Revenue(TTM)2.23B
Net Income(TTM)141.22M
Analysts71.82
Price Target49.99 (77.9%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.96%
Yearly Dividend0.6
Dividend Growth(5Y)-1.59%
DP37.19%
Div Incr YearsN/A
Div Non Decr YearsN/A
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-21.46%
Min EPS beat(2)-33.88%
Max EPS beat(2)-9.05%
EPS beat(4)1
Avg EPS beat(4)-16.59%
Min EPS beat(4)-36.67%
Max EPS beat(4)13.25%
EPS beat(8)4
Avg EPS beat(8)-3.62%
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)0.89%
Min Revenue beat(2)-1.14%
Max Revenue beat(2)2.92%
Revenue beat(4)3
Avg Revenue beat(4)1.59%
Min Revenue beat(4)-1.14%
Max Revenue beat(4)3.76%
Revenue beat(8)5
Avg Revenue beat(8)-0.32%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-10.6%
PT rev (3m)-10.6%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-9.83%
EPS NY rev (3m)-9.83%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.81%
Revenue NY rev (3m)-0.81%
Valuation
Industry RankSector Rank
PE 17.45
Fwd PE 14.5
P/S 1.13
P/FCF 18.86
P/OCF 11.98
P/B 1.19
P/tB 5.19
EV/EBITDA 8.65
EPS(TTM)1.61
EY5.73%
EPS(NY)1.94
Fwd EY6.9%
FCF(TTM)1.49
FCFY5.3%
OCF(TTM)2.35
OCFY8.35%
SpS24.91
BVpS23.66
TBVpS5.41
PEG (NY)0.86
PEG (5Y)5.25
Graham Number29.28
Profitability
Industry RankSector Rank
ROA 4.15%
ROE 6.67%
ROCE 7.81%
ROIC 5.79%
ROICexc 5.89%
ROICexgc 14.08%
OM 10.03%
PM (TTM) 6.34%
GM 52.76%
FCFM 5.98%
ROA(3y)6.33%
ROA(5y)7.85%
ROE(3y)9.62%
ROE(5y)11.54%
ROIC(3y)7.11%
ROIC(5y)9.66%
ROICexc(3y)7.22%
ROICexc(5y)9.75%
ROICexgc(3y)13.97%
ROICexgc(5y)15.82%
ROCE(3y)9.59%
ROCE(5y)13.04%
ROICexgc growth 3Y-8.4%
ROICexgc growth 5Y5.81%
ROICexc growth 3Y-23.03%
ROICexc growth 5Y-5.18%
OM growth 3Y-21.67%
OM growth 5Y-5.49%
PM growth 3Y-25.69%
PM growth 5Y-7.11%
GM growth 3Y-3.8%
GM growth 5Y-1.12%
F-Score6
Asset Turnover0.65
Health
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 4.41
Debt/EBITDA 1.61
Cap/Depr 60.61%
Cap/Sales 3.44%
Interest Coverage 10.38
Cash Conversion 60%
Profit Quality 94.37%
Current Ratio 2.35
Quick Ratio 1.44
Altman-Z 2.95
F-Score6
WACC6.83%
ROIC/WACC0.85
Cap/Depr(3y)109.66%
Cap/Depr(5y)110.76%
Cap/Sales(3y)5.42%
Cap/Sales(5y)4.92%
Profit Quality(3y)64.92%
Profit Quality(5y)71.29%
High Growth Momentum
Growth
EPS 1Y (TTM)-19.9%
EPS 3Y-21.2%
EPS 5Y3.32%
EPS Q2Q%-14.49%
EPS Next Y20.35%
EPS Next 2Y21.07%
EPS Next 3Y21.31%
EPS Next 5Y19.64%
Revenue 1Y (TTM)7.82%
Revenue growth 3Y5.39%
Revenue growth 5Y10.78%
Sales Q2Q%8.27%
Revenue Next Year4.23%
Revenue Next 2Y5.18%
Revenue Next 3Y5.72%
Revenue Next 5Y6.21%
EBIT growth 1Y14.86%
EBIT growth 3Y-17.44%
EBIT growth 5Y4.69%
EBIT Next Year66.85%
EBIT Next 3Y28.21%
EBIT Next 5Y26.13%
FCF growth 1Y40.11%
FCF growth 3Y7.85%
FCF growth 5Y-0.04%
OCF growth 1Y-15.15%
OCF growth 3Y3.7%
OCF growth 5Y3.29%

CARL ZEISS MEDITEC AG - BR / 1AFX.MI FAQ

What is the ChartMill fundamental rating of CARL ZEISS MEDITEC AG - BR (1AFX.MI) stock?

ChartMill assigns a fundamental rating of 5 / 10 to 1AFX.MI.


What is the valuation status for 1AFX stock?

ChartMill assigns a valuation rating of 6 / 10 to CARL ZEISS MEDITEC AG - BR (1AFX.MI). This can be considered as Fairly Valued.


How profitable is CARL ZEISS MEDITEC AG - BR (1AFX.MI) stock?

CARL ZEISS MEDITEC AG - BR (1AFX.MI) has a profitability rating of 4 / 10.


Can you provide the PE and PB ratios for 1AFX stock?

The Price/Earnings (PE) ratio for CARL ZEISS MEDITEC AG - BR (1AFX.MI) is 17.45 and the Price/Book (PB) ratio is 1.19.


What is the expected EPS growth for CARL ZEISS MEDITEC AG - BR (1AFX.MI) stock?

The Earnings per Share (EPS) of CARL ZEISS MEDITEC AG - BR (1AFX.MI) is expected to grow by 20.35% in the next year.