CARL ZEISS MEDITEC AG - BR (AFX.DE) Stock Fundamental Analysis
FRA:AFX - Deutsche Boerse Ag - DE0005313704 - Common Stock - Currency: EUR
Overall AFX gets a fundamental rating of 5 out of 10. We evaluated AFX against 58 industry peers in the Health Care Equipment & Supplies industry. AFX has an average financial health and profitability rating. While showing a medium growth rate, AFX is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
In the past year AFX was profitable.
In the past year AFX had a positive cash flow from operations.
In the past 5 years AFX has always been profitable.
AFX had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 4.49%, AFX is in the better half of the industry, outperforming 70.69% of the companies in the same industry.
With a decent Return On Equity value of 7.51%, AFX is doing good in the industry, outperforming 63.79% of the companies in the same industry.
AFX has a Return On Invested Capital (4.74%) which is in line with its industry peers.
AFX had an Average Return On Invested Capital over the past 3 years of 9.30%. This is in line with the industry average of 8.02%.
The last Return On Invested Capital (4.74%) for AFX is well below the 3 year average (9.30%), which needs to be investigated, but indicates that AFX had better years and this may not be a problem.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.49% | ||
| ROE | 7.51% | ||
| ROIC | 4.74% |
ROA(3y)8.42%
ROA(5y)8.24%
ROE(3y)12.26%
ROE(5y)11.91%
ROIC(3y)9.3%
ROIC(5y)9.86%
1.3 Margins
AFX's Profit Margin of 7.19% is in line compared to the rest of the industry. AFX outperforms 58.62% of its industry peers.
AFX's Profit Margin has declined in the last couple of years.
With a Operating Margin value of 8.55%, AFX perfoms like the industry average, outperforming 53.45% of the companies in the same industry.
In the last couple of years the Operating Margin of AFX has declined.
AFX has a Gross Margin of 52.43%. This is comparable to the rest of the industry: AFX outperforms 44.83% of its industry peers.
AFX's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 8.55% | ||
| PM (TTM) | 7.19% | ||
| GM | 52.43% |
OM growth 3Y-25.26%
OM growth 5Y-12.3%
PM growth 3Y-15.52%
PM growth 5Y-4.6%
GM growth 3Y-3.56%
GM growth 5Y-1.56%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), AFX is creating some value.
Compared to 1 year ago, AFX has less shares outstanding
AFX has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, AFX has a worse debt to assets ratio.
2.2 Solvency
An Altman-Z score of 3.70 indicates that AFX is not in any danger for bankruptcy at the moment.
The Altman-Z score of AFX (3.70) is better than 72.41% of its industry peers.
The Debt to FCF ratio of AFX is 7.17, which is on the high side as it means it would take AFX, 7.17 years of fcf income to pay off all of its debts.
AFX has a Debt to FCF ratio of 7.17. This is comparable to the rest of the industry: AFX outperforms 55.17% of its industry peers.
AFX has a Debt/Equity ratio of 0.27. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of AFX (0.27) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.27 | ||
| Debt/FCF | 7.17 | ||
| Altman-Z | 3.7 |
ROIC/WACC0.7
WACC6.82%
2.3 Liquidity
AFX has a Current Ratio of 2.04. This indicates that AFX is financially healthy and has no problem in meeting its short term obligations.
AFX's Current ratio of 2.04 is fine compared to the rest of the industry. AFX outperforms 60.34% of its industry peers.
A Quick Ratio of 1.17 indicates that AFX should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.17, AFX is in line with its industry, outperforming 56.90% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.04 | ||
| Quick Ratio | 1.17 |
3. Growth
3.1 Past
The earnings per share for AFX have decreased strongly by -39.59% in the last year.
Measured over the past 5 years, AFX shows a small growth in Earnings Per Share. The EPS has been growing by 2.35% on average per year.
AFX shows a small growth in Revenue. In the last year, the Revenue has grown by 5.22%.
AFX shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.20% yearly.
EPS 1Y (TTM)-39.59%
EPS 3Y-8.8%
EPS 5Y2.35%
EPS Q2Q%0%
Revenue 1Y (TTM)5.22%
Revenue growth 3Y7.85%
Revenue growth 5Y7.2%
Sales Q2Q%18.62%
3.2 Future
AFX is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 17.27% yearly.
The Revenue is expected to grow by 7.63% on average over the next years.
EPS Next Y-5.11%
EPS Next 2Y9.71%
EPS Next 3Y14.71%
EPS Next 5Y17.27%
Revenue Next Year5.98%
Revenue Next 2Y6.42%
Revenue Next 3Y7.01%
Revenue Next 5Y7.63%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 30.28, AFX can be considered very expensive at the moment.
Based on the Price/Earnings ratio, AFX is valued a bit cheaper than 67.24% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.45. AFX is around the same levels.
AFX is valuated rather expensively with a Price/Forward Earnings ratio of 22.15.
Based on the Price/Forward Earnings ratio, AFX is valued a bit cheaper than 65.52% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of AFX to the average of the S&P500 Index (21.90), we can say AFX is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.28 | ||
| Fwd PE | 22.15 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of AFX indicates a somewhat cheap valuation: AFX is cheaper than 67.24% of the companies listed in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of AFX is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 57.79 | ||
| EV/EBITDA | 15.73 |
4.3 Compensation for Growth
A more expensive valuation may be justified as AFX's earnings are expected to grow with 14.71% in the coming years.
PEG (NY)N/A
PEG (5Y)12.91
EPS Next 2Y9.71%
EPS Next 3Y14.71%
5. Dividend
5.1 Amount
AFX has a Yearly Dividend Yield of 1.06%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 2.07, AFX pays a bit more dividend than its industry peers.
With a Dividend Yield of 1.06, AFX pays less dividend than the S&P500 average, which is at 2.42.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.06% |
5.2 History
On average, the dividend of AFX grows each year by 15.07%, which is quite nice.
Dividend Growth(5Y)15.07%
Div Incr Years1
Div Non Decr Years4
5.3 Sustainability
AFX pays out 33.69% of its income as dividend. This is a sustainable payout ratio.
The dividend of AFX is growing around the same rate as the earnings are growing. If this keeps up the dividend growth is sustainable.
DP33.69%
EPS Next 2Y9.71%
EPS Next 3Y14.71%
FRA:AFX (7/4/2025, 7:00:00 PM)
53.6
-0.25 (-0.46%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners21.46%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap4.79B
Analysts71.82
Price Target67.29 (25.54%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.06% |
Yearly Dividend1.11
Dividend Growth(5Y)15.07%
DP33.69%
Div Incr Years1
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-11.71%
Min EPS beat(2)-36.67%
Max EPS beat(2)13.25%
EPS beat(4)2
Avg EPS beat(4)-5.53%
Min EPS beat(4)-36.67%
Max EPS beat(4)37.18%
EPS beat(8)6
Avg EPS beat(8)8.89%
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)2
Avg Revenue beat(2)2.29%
Min Revenue beat(2)0.82%
Max Revenue beat(2)3.76%
Revenue beat(4)3
Avg Revenue beat(4)0.58%
Min Revenue beat(4)-2.4%
Max Revenue beat(4)3.76%
Revenue beat(8)5
Avg Revenue beat(8)-0.67%
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)5.98%
PT rev (3m)7.68%
EPS NQ rev (1m)0%
EPS NQ rev (3m)3.18%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.28%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.05%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.41%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.28 | ||
| Fwd PE | 22.15 | ||
| P/S | 2.21 | ||
| P/FCF | 57.79 | ||
| P/OCF | 24.51 | ||
| P/B | 2.31 | ||
| P/tB | 12.36 | ||
| EV/EBITDA | 15.73 |
EPS(TTM)1.77
EY3.3%
EPS(NY)2.42
Fwd EY4.51%
FCF(TTM)0.93
FCFY1.73%
OCF(TTM)2.19
OCFY4.08%
SpS24.26
BVpS23.21
TBVpS4.34
PEG (NY)N/A
PEG (5Y)12.91
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.49% | ||
| ROE | 7.51% | ||
| ROCE | 6.52% | ||
| ROIC | 4.74% | ||
| ROICexc | 4.83% | ||
| ROICexgc | 12.2% | ||
| OM | 8.55% | ||
| PM (TTM) | 7.19% | ||
| GM | 52.43% | ||
| FCFM | 3.82% |
ROA(3y)8.42%
ROA(5y)8.24%
ROE(3y)12.26%
ROE(5y)11.91%
ROIC(3y)9.3%
ROIC(5y)9.86%
ROICexc(3y)9.4%
ROICexc(5y)9.95%
ROICexgc(3y)15.11%
ROICexgc(5y)14.88%
ROCE(3y)12.78%
ROCE(5y)13.55%
ROICexcg growth 3Y-11.32%
ROICexcg growth 5Y-4.98%
ROICexc growth 3Y-28.53%
ROICexc growth 5Y-15.45%
OM growth 3Y-25.26%
OM growth 5Y-12.3%
PM growth 3Y-15.52%
PM growth 5Y-4.6%
GM growth 3Y-3.56%
GM growth 5Y-1.56%
F-Score4
Asset Turnover0.62
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.27 | ||
| Debt/FCF | 7.17 | ||
| Debt/EBITDA | 1.68 | ||
| Cap/Depr | 73.33% | ||
| Cap/Sales | 5.19% | ||
| Interest Coverage | 13.7 | ||
| Cash Conversion | 57.69% | ||
| Profit Quality | 53.21% | ||
| Current Ratio | 2.04 | ||
| Quick Ratio | 1.17 | ||
| Altman-Z | 3.7 |
F-Score4
WACC6.82%
ROIC/WACC0.7
Cap/Depr(3y)128.62%
Cap/Depr(5y)113.53%
Cap/Sales(3y)5.71%
Cap/Sales(5y)4.9%
Profit Quality(3y)45.51%
Profit Quality(5y)74.23%
High Growth Momentum
Growth
EPS 1Y (TTM)-39.59%
EPS 3Y-8.8%
EPS 5Y2.35%
EPS Q2Q%0%
EPS Next Y-5.11%
EPS Next 2Y9.71%
EPS Next 3Y14.71%
EPS Next 5Y17.27%
Revenue 1Y (TTM)5.22%
Revenue growth 3Y7.85%
Revenue growth 5Y7.2%
Sales Q2Q%18.62%
Revenue Next Year5.98%
Revenue Next 2Y6.42%
Revenue Next 3Y7.01%
Revenue Next 5Y7.63%
EBIT growth 1Y-40.66%
EBIT growth 3Y-19.39%
EBIT growth 5Y-5.98%
EBIT Next Year68.13%
EBIT Next 3Y30.52%
EBIT Next 5Y22.37%
FCF growth 1Y-30.57%
FCF growth 3Y-31.55%
FCF growth 5Y-11.27%
OCF growth 1Y-1.41%
OCF growth 3Y-11.98%
OCF growth 5Y2.4%