CARL ZEISS MEDITEC AG - BR (AFX.DE) Fundamental Analysis & Valuation

FRA:AFX • DE0005313704

Current stock price

23.54 EUR
-0.08 (-0.34%)
Last:

This AFX.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. AFX.DE Profitability Analysis

1.1 Basic Checks

  • AFX had positive earnings in the past year.
  • In the past year AFX had a positive cash flow from operations.
  • In the past 5 years AFX has always been profitable.
  • In the past 5 years AFX always reported a positive cash flow from operatings.
AFX.DE Yearly Net Income VS EBIT VS OCF VS FCFAFX.DE 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

  • The Return On Assets of AFX (4.15%) is better than 65.08% of its industry peers.
  • Looking at the Return On Equity, with a value of 6.67%, AFX is in line with its industry, outperforming 50.79% of the companies in the same industry.
  • AFX's Return On Invested Capital of 5.79% is in line compared to the rest of the industry. AFX outperforms 55.56% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for AFX is below the industry average of 9.72%.
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%
AFX.DE Yearly ROA, ROE, ROICAFX.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10

1.3 Margins

  • AFX has a Profit Margin (6.34%) which is in line with its industry peers.
  • AFX's Profit Margin has declined in the last couple of years.
  • AFX has a Operating Margin (10.03%) which is in line with its industry peers.
  • In the last couple of years the Operating Margin of AFX has declined.
  • AFX has a Gross Margin (52.76%) which is in line with its industry peers.
  • AFX'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%
AFX.DE Yearly Profit, Operating, Gross MarginsAFX.DE 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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6

2. AFX.DE Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), AFX is creating some value.
  • AFX has about the same amout of shares outstanding than it did 1 year ago.
  • AFX has less shares outstanding than it did 5 years ago.
  • AFX has a better debt/assets ratio than last year.
AFX.DE Yearly Shares OutstandingAFX.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M
AFX.DE Yearly Total Debt VS Total AssetsAFX.DE 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

  • An Altman-Z score of 2.76 indicates that AFX is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 2.76, AFX is in line with its industry, outperforming 55.56% of the companies in the same industry.
  • The Debt to FCF ratio of AFX is 4.41, which is a neutral value as it means it would take AFX, 4.41 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 4.41, AFX is in the better half of the industry, outperforming 61.90% of the companies in the same industry.
  • A Debt/Equity ratio of 0.27 indicates that AFX is not too dependend on debt financing.
  • AFX has a Debt to Equity ratio of 0.27. This is in the better half of the industry: AFX outperforms 63.49% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 4.41
Altman-Z 2.76
ROIC/WACC0.89
WACC6.52%
AFX.DE Yearly LT Debt VS Equity VS FCFAFX.DE 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

  • AFX has a Current Ratio of 2.35. This indicates that AFX is financially healthy and has no problem in meeting its short term obligations.
  • AFX has a better Current ratio (2.35) than 68.25% of its industry peers.
  • A Quick Ratio of 1.44 indicates that AFX should not have too much problems paying its short term obligations.
  • AFX's Quick ratio of 1.44 is fine compared to the rest of the industry. AFX outperforms 68.25% of its industry peers.
Industry RankSector Rank
Current Ratio 2.35
Quick Ratio 1.44
AFX.DE Yearly Current Assets VS Current LiabilitesAFX.DE 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. AFX.DE Growth Analysis

3.1 Past

  • AFX shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -17.51%.
  • Measured over the past 5 years, AFX shows a small growth in Earnings Per Share. The EPS has been growing by 3.28% on average per year.
  • The Revenue has been growing slightly by 5.89% in the past year.
  • The Revenue has been growing by 10.78% on average over the past years. This is quite good.
EPS 1Y (TTM)-17.51%
EPS 3Y-21.2%
EPS 5Y3.28%
EPS Q2Q%-83.33%
Revenue 1Y (TTM)5.89%
Revenue growth 3Y5.39%
Revenue growth 5Y10.78%
Sales Q2Q%-4.79%

3.2 Future

  • The Earnings Per Share is expected to grow by 14.94% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 5.17% on average over the next years.
EPS Next Y1.24%
EPS Next 2Y12.96%
EPS Next 3Y14.01%
EPS Next 5Y14.94%
Revenue Next Year2.21%
Revenue Next 2Y3.76%
Revenue Next 3Y4.34%
Revenue Next 5Y5.17%

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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
AFX.DE Yearly Revenue VS EstimatesAFX.DE 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
AFX.DE Yearly EPS VS EstimatesAFX.DE 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. AFX.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 16.12, which indicates a correct valuation of AFX.
  • Based on the Price/Earnings ratio, AFX is valued cheaply inside the industry as 88.89% of the companies are valued more expensively.
  • AFX's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 25.71.
  • A Price/Forward Earnings ratio of 11.46 indicates a reasonable valuation of AFX.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of AFX indicates a rather cheap valuation: AFX is cheaper than 85.71% of the companies listed in the same industry.
  • AFX's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 23.83.
Industry RankSector Rank
PE 16.12
Fwd PE 11.46
AFX.DE Price Earnings VS Forward Price EarningsAFX.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, AFX is valued cheaply inside the industry as 87.30% of the companies are valued more expensively.
  • 84.13% of the companies in the same industry are more expensive than AFX, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 15.8
EV/EBITDA 7.5
AFX.DE Per share dataAFX.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • AFX's earnings are expected to grow with 14.01% in the coming years. This may justify a more expensive valuation.
PEG (NY)12.96
PEG (5Y)4.91
EPS Next 2Y12.96%
EPS Next 3Y14.01%

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

4

5. AFX.DE Dividend Analysis

5.1 Amount

  • AFX has a Yearly Dividend Yield of 2.33%.
  • In the last 3 months the price of AFX has falen by -41.79%. A price decline artificially increases the dividend yield. It may be a sign investors do not expect the dividend to last.
  • AFX's Dividend Yield is a higher than the industry average which is at 1.11.
  • AFX's Dividend Yield is a higher than the S&P500 average which is at 1.91.
Industry RankSector Rank
Dividend Yield 2.33%

5.2 History

  • The dividend of AFX decreases each year by -1.59%.
Dividend Growth(5Y)-1.59%
Div Incr Years1
Div Non Decr Years4
AFX.DE Yearly Dividends per shareAFX.DE Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8 1

5.3 Sustainability

  • AFX pays out 37.19% of its income as dividend. This is a sustainable payout ratio.
DP37.19%
EPS Next 2Y12.96%
EPS Next 3Y14.01%
AFX.DE Yearly Income VS Free CF VS DividendAFX.DE 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
AFX.DE Dividend Payout.AFX.DE Dividend Payout, showing the Payout Ratio.AFX.DE Dividend Payout.PayoutRetained Earnings

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AFX.DE Fundamentals: All Metrics, Ratios and Statistics

CARL ZEISS MEDITEC AG - BR

FRA:AFX (3/16/2026, 5:29:54 PM)

23.54

-0.08 (-0.34%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)02-12
Earnings (Next)05-11
Inst Owners24.4%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap2.11B
Revenue(TTM)2.20B
Net Income(TTM)141.22M
Analysts66.09
Price Target37.68 (60.07%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.33%
Yearly Dividend0.6
Dividend Growth(5Y)-1.59%
DP37.19%
Div Incr Years1
Div Non Decr Years4
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)-9.12%
PT rev (3m)-32.18%
EPS NQ rev (1m)0%
EPS NQ rev (3m)N/A
EPS NY rev (1m)-15.87%
EPS NY rev (3m)-20.77%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-1.94%
Revenue NY rev (3m)-2.58%
Valuation
Industry RankSector Rank
PE 16.12
Fwd PE 11.46
P/S 0.95
P/FCF 15.8
P/OCF 10.03
P/B 0.99
P/tB 4.35
EV/EBITDA 7.5
EPS(TTM)1.46
EY6.2%
EPS(NY)2.05
Fwd EY8.73%
FCF(TTM)1.49
FCFY6.33%
OCF(TTM)2.35
OCFY9.97%
SpS24.91
BVpS23.66
TBVpS5.41
PEG (NY)12.96
PEG (5Y)4.91
Graham Number27.88
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 5Y5.55%
ROICexc growth 3Y-23.03%
ROICexc growth 5Y-5.34%
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 2.76
F-Score6
WACC6.52%
ROIC/WACC0.89
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)-17.51%
EPS 3Y-21.2%
EPS 5Y3.28%
EPS Q2Q%-83.33%
EPS Next Y1.24%
EPS Next 2Y12.96%
EPS Next 3Y14.01%
EPS Next 5Y14.94%
Revenue 1Y (TTM)5.89%
Revenue growth 3Y5.39%
Revenue growth 5Y10.78%
Sales Q2Q%-4.79%
Revenue Next Year2.21%
Revenue Next 2Y3.76%
Revenue Next 3Y4.34%
Revenue Next 5Y5.17%
EBIT growth 1Y14.86%
EBIT growth 3Y-17.44%
EBIT growth 5Y4.69%
EBIT Next Year51.32%
EBIT Next 3Y23.17%
EBIT Next 5Y16.25%
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 / AFX.DE Fundamental Analysis FAQ

What is the fundamental rating for AFX stock?

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


What is the valuation status of CARL ZEISS MEDITEC AG - BR (AFX.DE) stock?

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


Can you provide the profitability details for CARL ZEISS MEDITEC AG - BR?

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


What are the PE and PB ratios of CARL ZEISS MEDITEC AG - BR (AFX.DE) stock?

The Price/Earnings (PE) ratio for CARL ZEISS MEDITEC AG - BR (AFX.DE) is 16.12 and the Price/Book (PB) ratio is 0.99.


Is the dividend of CARL ZEISS MEDITEC AG - BR sustainable?

The dividend rating of CARL ZEISS MEDITEC AG - BR (AFX.DE) is 4 / 10 and the dividend payout ratio is 37.19%.