CARL ZEISS MEDITEC AG - BR (AFX.DE) Stock Fundamental Analysis
FRA:AFX • DE0005313704
26.36 EUR
-0.18 (-0.68%)
Last: Feb 25, 2026, 05:29 PM
Overall AFX gets a fundamental rating of 5 out of 10. We evaluated AFX against 65 industry peers in the Health Care Equipment & Supplies industry. AFX has only an average score on both its financial health and profitability. A decent growth rate in combination with a cheap valuation! Better keep an eye on AFX.
1. Profitability
1.1 Basic Checks
- AFX had positive earnings in the past year.
- AFX had a positive operating cash flow in the past year.
- AFX had positive earnings in each of the past 5 years.
- 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 4.15%, AFX is in the better half of the industry, outperforming 61.54% of the companies in the same industry.
- AFX has a Return On Equity (6.67%) which is in line with its industry peers.
- AFX has a Return On Invested Capital (5.79%) which is comparable to the rest of the industry.
- The Average Return On Invested Capital over the past 3 years for AFX is below the industry average of 9.73%.
| Industry Rank | Sector 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%
1.3 Margins
- AFX has a Profit Margin (6.34%) which is comparable to the rest of the industry.
- In the last couple of years the Profit Margin of AFX has declined.
- With a Operating Margin value of 10.03%, AFX perfoms like the industry average, outperforming 46.15% of the companies in the same industry.
- In the last couple of years the Operating Margin of AFX has declined.
- AFX's Gross Margin of 52.76% is on the low side compared to the rest of the industry. AFX is outperformed by 60.00% of its industry peers.
- In the last couple of years the Gross Margin of AFX has remained more or less at the same level.
| Industry Rank | Sector 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%
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.
- The number of shares outstanding for AFX remains at a similar level compared to 1 year ago.
- Compared to 5 years ago, AFX has less shares outstanding
- The debt/assets ratio for AFX has been reduced compared to a year ago.
2.2 Solvency
- An Altman-Z score of 2.89 indicates that AFX is not a great score, but indicates only limited risk for bankruptcy at the moment.
- AFX has a Altman-Z score of 2.89. This is comparable to the rest of the industry: AFX outperforms 53.85% of its industry peers.
- AFX has a debt to FCF ratio of 4.41. This is a neutral value as AFX would need 4.41 years to pay back of all of its debts.
- The Debt to FCF ratio of AFX (4.41) is comparable to the rest of the industry.
- AFX has a Debt/Equity ratio of 0.27. This is a healthy value indicating a solid balance between debt and equity.
- AFX has a Debt to Equity ratio of 0.27. This is comparable to the rest of the industry: AFX outperforms 60.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.27 | ||
| Debt/FCF | 4.41 | ||
| Altman-Z | 2.89 |
ROIC/WACC0.87
WACC6.68%
2.3 Liquidity
- A Current Ratio of 2.35 indicates that AFX has no problem at all paying its short term obligations.
- The Current ratio of AFX (2.35) is better than 67.69% of its industry peers.
- A Quick Ratio of 1.44 indicates that AFX should not have too much problems paying its short term obligations.
- Looking at the Quick ratio, with a value of 1.44, AFX is in the better half of the industry, outperforming 70.77% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.35 | ||
| Quick Ratio | 1.44 |
3. Growth
3.1 Past
- AFX shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -17.51%.
- AFX shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 3.28% yearly.
- 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
- Based on estimates for the next years, AFX will show a quite strong growth in Earnings Per Share. The EPS will grow by 16.66% on average per year.
- Based on estimates for the next years, AFX will show a small growth in Revenue. The Revenue will grow by 4.97% on average per year.
EPS Next Y20.35%
EPS Next 2Y21.07%
EPS Next 3Y21.31%
EPS Next 5Y16.66%
Revenue Next Year2.7%
Revenue Next 2Y4.1%
Revenue Next 3Y4.4%
Revenue Next 5Y4.97%
3.3 Evolution
- The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
- The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
- The Price/Earnings ratio is 18.05, which indicates a rather expensive current valuation of AFX.
- AFX's Price/Earnings ratio is a bit cheaper when compared to the industry. AFX is cheaper than 80.00% of the companies in the same industry.
- AFX's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.98.
- A Price/Forward Earnings ratio of 11.17 indicates a reasonable valuation of AFX.
- Based on the Price/Forward Earnings ratio, AFX is valued cheaper than 84.62% of the companies in the same industry.
- Compared to an average S&P500 Price/Forward Earnings ratio of 28.01, AFX is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.05 | ||
| Fwd PE | 11.17 |
4.2 Price Multiples
- 84.62% of the companies in the same industry are more expensive than AFX, based on the Enterprise Value to EBITDA ratio.
- Based on the Price/Free Cash Flow ratio, AFX is valued cheaply inside the industry as 83.08% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 17.69 | ||
| EV/EBITDA | 8.25 |
4.3 Compensation for Growth
- AFX's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
- AFX's earnings are expected to grow with 21.31% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.89
PEG (5Y)5.5
EPS Next 2Y21.07%
EPS Next 3Y21.31%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 2.04%, AFX has a reasonable but not impressive dividend return.
- The stock price of AFX dropped by -40.82% 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 1.14.
- AFX's Dividend Yield is comparable with the S&P500 average which is at 1.81.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.04% |
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
5.3 Sustainability
- 37.19% of the earnings are spent on dividend by AFX. This is a low number and sustainable payout ratio.
DP37.19%
EPS Next 2Y21.07%
EPS Next 3Y21.31%
FRA:AFX (2/25/2026, 5:29:59 PM)
26.36
-0.18 (-0.68%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)02-12 2026-02-12/dmh
Earnings (Next)05-11 2026-05-11
Inst Owners25.21%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap2.36B
Revenue(TTM)2.20B
Net Income(TTM)141.22M
Analysts66.96
Price Target41.46 (57.28%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.04% |
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)-16.71%
PT rev (3m)-25.37%
EPS NQ rev (1m)-17.33%
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-6.39%
Revenue NQ rev (1m)-0.03%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-1.47%
Revenue NY rev (3m)-2.15%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.05 | ||
| Fwd PE | 11.17 | ||
| P/S | 1.06 | ||
| P/FCF | 17.69 | ||
| P/OCF | 11.23 | ||
| P/B | 1.11 | ||
| P/tB | 4.87 | ||
| EV/EBITDA | 8.25 |
EPS(TTM)1.46
EY5.54%
EPS(NY)2.36
Fwd EY8.95%
FCF(TTM)1.49
FCFY5.65%
OCF(TTM)2.35
OCFY8.9%
SpS24.91
BVpS23.66
TBVpS5.41
PEG (NY)0.89
PEG (5Y)5.5
Graham Number27.88
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 2.89 |
F-Score6
WACC6.68%
ROIC/WACC0.87
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 Y20.35%
EPS Next 2Y21.07%
EPS Next 3Y21.31%
EPS Next 5Y16.66%
Revenue 1Y (TTM)5.89%
Revenue growth 3Y5.39%
Revenue growth 5Y10.78%
Sales Q2Q%-4.79%
Revenue Next Year2.7%
Revenue Next 2Y4.1%
Revenue Next 3Y4.4%
Revenue Next 5Y4.97%
EBIT growth 1Y14.86%
EBIT growth 3Y-17.44%
EBIT growth 5Y4.69%
EBIT Next Year66.85%
EBIT Next 3Y28.21%
EBIT Next 5Y16.12%
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 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 7 / 10 to CARL ZEISS MEDITEC AG - BR (AFX.DE). This can be considered as Undervalued.
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 18.05 and the Price/Book (PB) ratio is 1.11.
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%.