CARL ZEISS MEDITEC AG - BR (AFX.DE) Stock Fundamental Analysis
Europe - FRA:AFX - DE0005313704 - Common Stock
45.2 EUR
+1.12 (+2.54%)
AFX gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 59 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.
Each year in the past 5 years AFX has been profitable.
AFX had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
AFX has a better Return On Assets (4.49%) than 66.10% of its industry peers.
The Return On Equity of AFX (7.51%) is better than 64.41% of its industry peers.
AFX's Return On Invested Capital of 4.74% is in line compared to the rest of the industry. AFX outperforms 50.85% of its industry peers.
The Average Return On Invested Capital over the past 3 years for AFX is in line with the industry average of 8.90%.
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 has a Profit Margin (7.19%) which is in line with its industry peers.
In the last couple of years the Profit Margin of AFX has declined.
AFX's Operating Margin of 8.55% is in line compared to the rest of the industry. AFX outperforms 50.85% of its industry peers.
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 45.76% of its industry peers.
In the last couple of years the Gross Margin of AFX has declined.
| 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
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so AFX is still creating some value.
AFX has less shares outstanding than it did 1 year ago.
AFX has less shares outstanding than it did 5 years ago.
AFX has a worse debt/assets ratio than last year.
2.2 Solvency
AFX has an Altman-Z score of 3.32. This indicates that AFX is financially healthy and has little risk of bankruptcy at the moment.
AFX's Altman-Z score of 3.32 is fine compared to the rest of the industry. AFX outperforms 64.41% of its industry peers.
AFX has a debt to FCF ratio of 7.17. This is a slightly negative value and a sign of low solvency as AFX would need 7.17 years to pay back of all of its debts.
AFX has a Debt to FCF ratio (7.17) which is comparable to the rest of the industry.
A Debt/Equity ratio of 0.27 indicates that AFX is not too dependend on debt financing.
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 | 3.32 |
ROIC/WACC0.7
WACC6.8%
2.3 Liquidity
A Current Ratio of 2.04 indicates that AFX has no problem at all paying its short term obligations.
Looking at the Current ratio, with a value of 2.04, AFX is in line with its industry, outperforming 59.32% of the companies in the same industry.
AFX has a Quick Ratio of 1.17. This is a normal value and indicates that AFX is financially healthy and should not expect problems in meeting its short term obligations.
AFX's Quick ratio of 1.17 is in line compared to the rest of the industry. AFX outperforms 55.93% of its industry peers.
| 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 -25.00% 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 5.50%.
Measured over the past years, AFX shows a small growth in Revenue. The Revenue has been growing by 7.20% on average per year.
EPS 1Y (TTM)-25%
EPS 3Y-8.8%
EPS 5Y2.35%
EPS Q2Q%-15.79%
Revenue 1Y (TTM)5.5%
Revenue growth 3Y7.85%
Revenue growth 5Y7.2%
Sales Q2Q%1.92%
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 14.24% yearly.
Based on estimates for the next years, AFX will show a small growth in Revenue. The Revenue will grow by 6.71% on average per year.
EPS Next Y-10.07%
EPS Next 2Y5.58%
EPS Next 3Y10.88%
EPS Next 5Y14.24%
Revenue Next Year6.27%
Revenue Next 2Y5.68%
Revenue Next 3Y6.17%
Revenue Next 5Y6.71%
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 stable.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 26.43, which means the current valuation is very expensive for AFX.
Compared to the rest of the industry, the Price/Earnings ratio of AFX indicates a somewhat cheap valuation: AFX is cheaper than 69.49% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 27.20. AFX is around the same levels.
AFX is valuated rather expensively with a Price/Forward Earnings ratio of 20.17.
67.80% of the companies in the same industry are more expensive than AFX, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 22.70. AFX is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.43 | ||
| Fwd PE | 20.17 |
4.2 Price Multiples
AFX's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. AFX is cheaper than 71.19% of the companies in the same industry.
AFX's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 48.73 | ||
| EV/EBITDA | 13.16 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)11.27
EPS Next 2Y5.58%
EPS Next 3Y10.88%
5. Dividend
5.1 Amount
AFX has a Yearly Dividend Yield of 1.41%. Purely for dividend investing, there may be better candidates out there.
The stock price of AFX dropped by -21.11% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
AFX's Dividend Yield is a higher than the industry average which is at 2.30.
With a Dividend Yield of 1.41, AFX pays less dividend than the S&P500 average, which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.41% |
5.2 History
The dividend of AFX is nicely growing with an annual growth rate of 15.07%!
Dividend Growth(5Y)15.07%
Div Incr Years1
Div Non Decr Years4
5.3 Sustainability
33.69% of the earnings are spent on dividend by AFX. This is a low number and sustainable payout ratio.
The dividend of AFX is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP33.69%
EPS Next 2Y5.58%
EPS Next 3Y10.88%
FRA:AFX (9/18/2025, 2:10:12 PM)
45.2
+1.12 (+2.54%)
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 Cap4.04B
Analysts72.73
Price Target55.42 (22.61%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.41% |
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)-15.88%
PT rev (3m)-17.64%
EPS NQ rev (1m)-4.88%
EPS NQ rev (3m)-15.53%
EPS NY rev (1m)-5.23%
EPS NY rev (3m)-5.23%
Revenue NQ rev (1m)-0.2%
Revenue NQ rev (3m)-2.4%
Revenue NY rev (1m)-0.54%
Revenue NY rev (3m)0.27%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.43 | ||
| Fwd PE | 20.17 | ||
| P/S | 1.86 | ||
| P/FCF | 48.73 | ||
| P/OCF | 20.67 | ||
| P/B | 1.95 | ||
| P/tB | 10.42 | ||
| EV/EBITDA | 13.16 |
EPS(TTM)1.71
EY3.78%
EPS(NY)2.24
Fwd EY4.96%
FCF(TTM)0.93
FCFY2.05%
OCF(TTM)2.19
OCFY4.84%
SpS24.26
BVpS23.21
TBVpS4.34
PEG (NY)N/A
PEG (5Y)11.27
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 | 3.32 |
F-Score4
WACC6.8%
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)-25%
EPS 3Y-8.8%
EPS 5Y2.35%
EPS Q2Q%-15.79%
EPS Next Y-10.07%
EPS Next 2Y5.58%
EPS Next 3Y10.88%
EPS Next 5Y14.24%
Revenue 1Y (TTM)5.5%
Revenue growth 3Y7.85%
Revenue growth 5Y7.2%
Sales Q2Q%1.92%
Revenue Next Year6.27%
Revenue Next 2Y5.68%
Revenue Next 3Y6.17%
Revenue Next 5Y6.71%
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 5Y20.62%
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%