CARL ZEISS MEDITEC AG - BR (AFX.DE) Stock Fundamental Analysis
Europe • Frankfurt Stock Exchange • FRA:AFX • DE0005313704
28.04 EUR
-0.16 (-0.57%)
Last: Feb 11, 2026, 09:59 AM
Overall AFX gets a fundamental rating of 5 out of 10. We evaluated AFX against 63 industry peers in the Health Care Equipment & Supplies industry. AFX has an average financial health and profitability rating. AFX is valued quite cheap, while showing a decent growth score. This is a good combination!
1. Profitability
1.1 Basic Checks
- In the past year AFX was profitable.
- AFX had a positive operating cash flow in the past year.
- AFX had positive earnings in each of the past 5 years.
- Each year in the past 5 years AFX had a positive operating cash flow.
1.2 Ratios
- AFX has a better Return On Assets (4.15%) than 63.49% of its industry peers.
- With a Return On Equity value of 6.67%, AFX perfoms like the industry average, outperforming 52.38% 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 52.38% of its industry peers.
- AFX had an Average Return On Invested Capital over the past 3 years of 7.11%. This is below the industry average of 9.98%.
| 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
- The Profit Margin of AFX (6.34%) is comparable to the rest of the industry.
- In the last couple of years the Profit Margin of AFX has declined.
- AFX has a Operating Margin (10.03%) which is comparable to the rest of the industry.
- AFX's Operating Margin has declined in the last couple of years.
- Looking at the Gross Margin, with a value of 52.76%, AFX is in line with its industry, outperforming 41.27% of the companies in the same industry.
- AFX's Gross Margin has been stable in the last couple of years.
| 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
- AFX has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
- AFX has about the same amout of shares outstanding than it did 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
- AFX has an Altman-Z score of 2.95. This is not the best score and indicates that AFX is in the grey zone with still only limited risk for bankruptcy at the moment.
- AFX's Altman-Z score of 2.95 is fine compared to the rest of the industry. AFX outperforms 61.90% 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.
- Looking at the Debt to FCF ratio, with a value of 4.41, AFX is in line with its industry, outperforming 57.14% 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's Debt to Equity ratio of 0.27 is fine compared to the rest of the industry. AFX outperforms 60.32% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.27 | ||
| Debt/FCF | 4.41 | ||
| Altman-Z | 2.95 |
ROIC/WACC0.87
WACC6.67%
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.
- The Current ratio of AFX (2.35) is better than 69.84% of its industry peers.
- AFX has a Quick Ratio of 1.44. This is a normal value and indicates that AFX is financially healthy and should not expect problems in meeting its short term obligations.
- AFX has a Quick ratio of 1.44. This is in the better half of the industry: AFX outperforms 73.02% of its industry peers.
| 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 -19.90%.
- The Earnings Per Share has been growing slightly by 3.28% on average over the past years.
- AFX 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 5Y3.28%
EPS Q2Q%N/A
Revenue 1Y (TTM)7.82%
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 19.64% on average per year.
- AFX 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.
- 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.
4. Valuation
4.1 Price/Earnings Ratio
- AFX is valuated rather expensively with a Price/Earnings ratio of 17.42.
- Compared to the rest of the industry, the Price/Earnings ratio of AFX indicates a rather cheap valuation: AFX is cheaper than 88.89% of the companies listed in the same industry.
- AFX's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 28.03.
- With a Price/Forward Earnings ratio of 11.88, the valuation of AFX can be described as very reasonable.
- 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.
- Compared to an average S&P500 Price/Forward Earnings ratio of 27.97, AFX is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.42 | ||
| Fwd PE | 11.88 |
4.2 Price Multiples
- AFX's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. AFX is cheaper than 85.71% of the companies in the same industry.
- Based on the Price/Free Cash Flow ratio, AFX is valued cheaply inside the industry as 80.95% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 18.82 | ||
| EV/EBITDA | 8.68 |
4.3 Compensation for Growth
- The 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)0.86
PEG (5Y)5.31
EPS Next 2Y21.07%
EPS Next 3Y21.31%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 2.01%, AFX has a reasonable but not impressive dividend return.
- In the last 3 months the price of AFX has falen by -33.93%. A price decline artificially increases the dividend yield. It may be a sign investors do not expect the dividend to last.
- Compared to an average industry Dividend Yield of 0.97, AFX pays a bit more dividend than its industry peers.
- Compared to an average S&P500 Dividend Yield of 1.80, AFX has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.01% |
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
- AFX 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%
FRA:AFX (2/11/2026, 9:59:57 AM)
28.04
-0.16 (-0.57%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)12-11 2025-12-11/amc
Earnings (Next)02-12 2026-02-12
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 Target41.46 (47.86%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.01% |
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)-18.94%
PT rev (3m)-25.37%
EPS NQ rev (1m)-30.35%
EPS NQ rev (3m)N/A
EPS NY rev (1m)-3.32%
EPS NY rev (3m)-6.39%
Revenue NQ rev (1m)-0.03%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.69%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.42 | ||
| Fwd PE | 11.88 | ||
| P/S | 1.13 | ||
| P/FCF | 18.82 | ||
| P/OCF | 11.95 | ||
| P/B | 1.18 | ||
| P/tB | 5.18 | ||
| EV/EBITDA | 8.68 |
EPS(TTM)1.61
EY5.74%
EPS(NY)2.36
Fwd EY8.42%
FCF(TTM)1.49
FCFY5.31%
OCF(TTM)2.35
OCFY8.37%
SpS24.91
BVpS23.66
TBVpS5.41
PEG (NY)0.86
PEG (5Y)5.31
Graham Number29.28
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 | 2.95 |
F-Score6
WACC6.67%
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)-19.9%
EPS 3Y-21.2%
EPS 5Y3.28%
EPS Q2Q%N/A
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%-4.79%
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 / 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 17.42 and the Price/Book (PB) ratio is 1.18.
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%.