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

FRA:AFX • DE0005313704

27 EUR
-0.18 (-0.66%)
Last: Feb 19, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to AFX. AFX was compared to 67 industry peers in the Health Care Equipment & Supplies industry. AFX has an average financial health and profitability rating. AFX may be a bit undervalued, certainly considering the very reasonable score on growth


Dividend Valuation Growth Profitability Health

4

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.
  • 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.
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

  • With a decent Return On Assets value of 4.15%, AFX is doing good in the industry, outperforming 61.19% of the companies in the same industry.
  • AFX has a Return On Equity of 6.67%. This is comparable to the rest of the industry: AFX outperforms 47.76% of its industry peers.
  • The Return On Invested Capital of AFX (5.79%) is comparable to the rest of the industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for AFX is below the industry average of 9.66%.
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 of 6.34%. This is comparable to the rest of the industry: AFX outperforms 52.24% of its industry peers.
  • AFX's Profit Margin has declined in the last couple of years.
  • AFX's Operating Margin of 10.03% is in line compared to the rest of the industry. AFX outperforms 46.27% of its industry peers.
  • In the last couple of years the Operating Margin of AFX has declined.
  • Looking at the Gross Margin, with a value of 52.76%, AFX is in line with its industry, outperforming 40.30% of the companies in the same industry.
  • 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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ROAROEROICOperating and Profit MarginShow most profitable peers

6

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 about the same amount of shares outstanding.
  • The number of shares outstanding for AFX has been reduced compared to 5 years ago.
  • The debt/assets ratio for AFX has been reduced compared to a year ago.
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

  • AFX has an Altman-Z score of 2.91. 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.
  • With a Altman-Z score value of 2.91, AFX perfoms like the industry average, outperforming 58.21% of the companies in the same industry.
  • 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 56.72% 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 comparable to the rest of the industry: AFX outperforms 58.21% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 4.41
Altman-Z 2.91
ROIC/WACC0.86
WACC6.72%
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

  • A Current Ratio of 2.35 indicates that AFX has no problem at all paying its short term obligations.
  • AFX's Current ratio of 2.35 is fine compared to the rest of the industry. AFX outperforms 67.16% of its industry peers.
  • A Quick Ratio of 1.44 indicates that AFX should not have too much problems paying its short term obligations.
  • The Quick ratio of AFX (1.44) is better than 70.15% 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. Growth

3.1 Past

  • AFX shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -19.90%.
  • 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 7.82% 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)-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

  • AFX is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 16.66% yearly.
  • The Revenue is expected to grow by 4.97% on average over the next years.
EPS Next Y20.35%
EPS Next 2Y21.07%
EPS Next 3Y21.31%
EPS Next 5Y16.66%
Revenue Next Year4.23%
Revenue Next 2Y5.18%
Revenue Next 3Y5.72%
Revenue Next 5Y4.97%

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.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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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Find the best growth stocksShow best growing peers

8

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 16.77 indicates a correct valuation of AFX.
  • Based on the Price/Earnings ratio, AFX is valued cheaper than 88.06% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of AFX to the average of the S&P500 Index (27.09), we can say AFX is valued slightly cheaper.
  • The Price/Forward Earnings ratio is 11.44, which indicates a very decent valuation of AFX.
  • Based on the Price/Forward Earnings ratio, AFX is valued cheaper than 85.07% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 27.98. AFX is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 16.77
Fwd PE 11.44
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

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of AFX indicates a rather cheap valuation: AFX is cheaper than 85.07% of the companies listed in the same industry.
  • Based on the Price/Free Cash Flow ratio, AFX is valued cheaper than 83.58% of the companies in the same industry.
Industry RankSector Rank
P/FCF 18.12
EV/EBITDA 8.41
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

  • AFX's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • A more expensive valuation may be justified as AFX's earnings are expected to grow with 21.31% in the coming years.
PEG (NY)0.82
PEG (5Y)5.11
EPS Next 2Y21.07%
EPS Next 3Y21.31%

More info and screens

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

4

5. Dividend

5.1 Amount

  • AFX has a Yearly Dividend Yield of 2.16%. Purely for dividend investing, there may be better candidates out there.
  • In the last 3 months the price of AFX has falen by -37.73%. 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 1.14.
  • AFX's Dividend Yield is comparable with the S&P500 average which is at 1.85.
Industry RankSector Rank
Dividend Yield 2.16%

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 2Y21.07%
EPS Next 3Y21.31%
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

More info and screens

Find the best dividend stocksShow peers with best dividend

CARL ZEISS MEDITEC AG - BR

FRA:AFX (2/19/2026, 7:00:00 PM)

27

-0.18 (-0.66%)

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 Owners25.21%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap2.41B
Revenue(TTM)2.23B
Net Income(TTM)141.22M
Analysts66.96
Price Target41.46 (53.56%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.16%
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 RankSector Rank
PE 16.77
Fwd PE 11.44
P/S 1.08
P/FCF 18.12
P/OCF 11.51
P/B 1.14
P/tB 4.99
EV/EBITDA 8.41
EPS(TTM)1.61
EY5.96%
EPS(NY)2.36
Fwd EY8.74%
FCF(TTM)1.49
FCFY5.52%
OCF(TTM)2.35
OCFY8.69%
SpS24.91
BVpS23.66
TBVpS5.41
PEG (NY)0.82
PEG (5Y)5.11
Graham Number29.28
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 2.91
F-Score6
WACC6.72%
ROIC/WACC0.86
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 5Y16.66%
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 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 8 / 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 16.77 and the Price/Book (PB) ratio is 1.14.


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%.