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Carl Zeiss Meditec AG (AFX.DE)

EUR29.16 -2.40 (-7.60%)
DE XETRA Healthcare Medical - Specialties
Address Göschwitzer Straße 51-52 7745
Jena, TH, DE
CEO Andreas Pecher
IPO 2000-03-22
ISIN DE0005313704

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Also trades on Deutsche Börse · AFX.DE (EUR) Other OTC · CZMWF (USD) Other OTC · CZMWY (USD)
Description

Carl Zeiss Meditec AG operates as a medical technology company in Germany, rest of Europe, North America, and Asia. It operates in two segments, Ophthalmology and Microsurgery. The Ophthalmology segment offers products and solutions for the diagnosis and treatment of chronic eye diseases, including slit lamps, refractometers, and tonometers; optical coherence tomography and fundus cameras for retina examination; functional glaucoma diagnostic devices (perimeters); surgical ophthalmology products comprising surgical microscopes, biometers, and phacoemulsification and vitrectomy equipment; intraocular lenses for cataract surgery; and systems and consumables for laser eye surgery that include the VISUMAX femtosecond laser, which enables minimally invasive correction of vision defects using lenticular extraction, as well as digital products for the storage, analysis, and sharing of clinical data. The Microsurgery segment provides products and solutions for minimally invasive surgical treatments, including surgical visualization, interoperative radiotherapy, interoperative pathology, special surgical instruments, and digital solutions, as well as the ZEISS Tumor Workflow, a cross-product workflow solution. It serves physicians in various fields and hospitals. The company was founded in 1846 and is headquartered in Jena, Germany. Carl Zeiss Meditec AG operates as a subsidiary of ZEISS Group.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
EUR29.16 -2.40 (-7.60%)
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Volume Profile
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Liquidity & share structure
Average Volume
216.3K
Beta
1.32
Float Shares
33.87M
Free Float %
38.7%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+12.36% +12.54% +9.37% +7.08% -34.16% -27.44% -56.42% -74.45% -79.28% -11.41% +12.36%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
29.16
DCF (Unlevered) 51.76 +77.5%
DCF (Levered) 31.44 +7.8%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 13% Bullish
Rating 2026-05 Change
Strong Buy 1 0
Buy 1 0
Hold 13 0
Sell 0 0
Strong Sell 1 0
Quality scores
Altman Z-Score
2.78
Grey zone
Piotroski F-Score
8 / 9
Strong
MOAT Score
6 / 10
Developing
Composite Rating
B+
Overall Score
3 / 5
Medium
DCF Score
4 / 5
High
ROE Score
3 / 5
Medium
ROA Score
4 / 5
High
D/E Score
2 / 5
Medium
P/E Score
2 / 5
Medium
P/Book Score
3 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Medical - Specialties: +8.3%
    +7.8% Q1'26: +102.0% (vs Q4'24)
  • EPS growth Medical - Specialties: +10.1%
    -19.9% Q1'26: -5.6% (vs Q4'24)
  • FCF margin FCF growth · Medical - Specialties: +51.3%
    +8.7% Q1'26: +9.0% (vs Q4'24)
  • EBIT margin Medical - Specialties: +12.6%
    +9.9% Q1'26: +3.7% (vs Q4'24)
  • ROIC Medical - Specialties: +6.6%
    +6.0% Q1'26: +3.6% (vs Q4'24)
  • Share dilution Medical - Specialties: 0.0%
    -1.5% Q1'26: +0.4% (vs Q4'24)
  • Debt / EBITDA Net debt/EBITDA · Medical - Specialties: -0.39×
    1.75× Q1'26: 1.36× (vs Q4'24)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (1.33) × ERP
WACC = 79% × Ke + 21% × Kd (4.4%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 51.32 Current price: 29.16
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Sep 2011
actual
Sep 2012
actual
Sep 2013
actual
Sep 2014
actual
Sep 2015
actual
Sep 2016
actual
Sep 2017
actual
Sep 2018
actual
Sep 2019
actual
Sep 2020
actual
Sep 2021
actual
Sep 2022
actual
Sep 2023
actual
Sep 2024
actual
Sep 2025
actual
Sep 2026
12 Rev. Ana.
10 EPS Ana.
Sep 2027
14 Rev. Ana.
12 EPS Ana.
Sep 2028
12 Rev. Ana.
12 EPS Ana.
Sep 2029
10 Rev. Ana.
9 EPS Ana.
Sep 2030
6 Rev. Ana.
5 EPS Ana.
Revenue
758.79M
est: 759.22M (-0.1%)
861.88M
est: 871.75M (-1.1%)
906.45M
est: 906.28M (+0.0%)
909.26M
est: 931.03M (-2.3%)
1.04B
est: 1.01B (+3.1%)
1.09B
est: 1.10B (-1.1%)
1.19B
est: 1.18B (+1.3%)
1.28B
est: 1.29B (-0.5%)
1.46B
est: 1.44B (+1.1%)
1.34B
est: 1.35B (-1.3%)
1.65B
est: 1.65B (-0.1%)
1.90B
est: 1.83B (+3.7%)
2.09B
est: 2.06B (+1.3%)
2.07B
est: 2.07B (-0.2%)
2.23B
est: 2.20B (+1.3%)
2.21B
2.11B – 2.29B
+0.4% YoY
2.33B
2.19B – 2.53B
+5.5% YoY
2.48B
2.47B – 2.49B
+6.3% YoY
2.66B
2.53B – 2.82B
+7.4% YoY
2.83B
2.68B – 3.00B
+6.2% YoY
EBITDA
127.06M
est: 102.28M (+24.2%)
136.96M
est: 128.60M (+6.5%)
167.67M
est: 128.29M (+30.7%)
134.48M
est: 178.55M (-24.7%)
133.88M
est: 134.32M (-0.3%)
165.15M
est: 105.20M (+57.0%)
214.47M
est: 160.43M (+33.7%)
212.52M
est: 241.41M (-12.0%)
285.88M
est: 212.52M (+34.5%)
266.41M
est: 231.68M (+15.0%)
409.21M
est: 262.68M (+55.8%)
482.36M
est: 280.18M (+72.2%)
502.77M
est: 450.93M (+11.5%)
403.06M
est: 450.22M (-10.5%)
346.89M
est: 480.87M (-27.9%)
483.04M
462.21M – 499.87M
+0.4% YoY
509.75M
479.45M – 552.26M
+5.5% YoY
542.06M
540.46M – 543.66M
+6.3% YoY
582.16M
552.18M – 616.93M
+7.4% YoY
618.47M
586.63M – 655.41M
+6.2% YoY
EBIT
108.12M
est: 96.60M (+11.9%)
122.26M
est: 118.96M (+2.8%)
149.68M
est: 127.77M (+17.1%)
117.48M
est: 137.56M (-14.6%)
104.50M
est: 132.13M (-20.9%)
145.56M
est: 141.64M (+2.8%)
191.25M
est: 165.81M (+15.3%)
181.84M
est: 198.66M (-8.5%)
238.07M
est: 220.21M (+8.1%)
206.61M
est: 252.43M (-18.2%)
348.42M
est: 286.21M (+21.7%)
413.08M
est: 305.27M (+35.3%)
427.81M
est: 355.87M (+20.2%)
270.29M
est: 355.35M (-23.9%)
220.52M
est: 379.50M (-41.9%)
381.21M
364.77M – 394.50M
+0.4% YoY
402.29M
378.38M – 435.84M
+5.5% YoY
427.79M
426.53M – 429.05M
+6.3% YoY
459.43M
435.78M – 486.88M
+7.4% YoY
488.09M
462.96M – 517.25M
+6.2% YoY
Net Income
72.27M
est: 61.17M (+18.2%)
71.87M
est: 76.82M (-6.4%)
93.51M
est: 74.75M (+25.1%)
74.95M
est: 96.05M (-22.0%)
62.30M
est: 82.10M (-24.1%)
98.33M
est: 67.57M (+45.5%)
134.45M
est: 105.64M (+27.3%)
126.46M
est: 147.70M (-14.4%)
159.76M
est: 141.27M (+13.1%)
122.39M
est: 152.37M (-19.7%)
236.28M
est: 172.76M (+36.8%)
293.91M
est: 184.27M (+59.5%)
290.40M
est: 261.22M (+11.2%)
178.73M
est: 155.88M (+14.7%)
141.21M
est: 153.27M (-7.9%)
131.98M
121.37M – 142.59M
-13.9% YoY
159.03M
94.70M – 208.38M
+20.5% YoY
188.52M
158.03M – 212.42M
+18.5% YoY
242.82M
226.57M – 261.67M
+28.8% YoY
279.05M
260.38M – 300.72M
+14.9% YoY
SGA
227.42M
est: 222.84M (+2.1%)
245.01M
est: 261.11M (-6.2%)
256.61M
est: 254.70M (+0.7%)
267.92M
est: 263.61M (+1.6%)
297.14M
est: 293.27M (+1.3%)
301.81M
est: 322.28M (-6.4%)
337.65M
est: 324.25M (+4.1%)
353.65M
est: 370.93M (-4.7%)
393.91M
est: 395.04M (-0.3%)
349.16M
est: 375.71M (-7.1%)
363.98M
est: 425.98M (-14.6%)
438.06M
est: 454.36M (-3.6%)
504.06M
est: 515.18M (-2.2%)
569.21M
est: 514.38M (+10.7%)
626.52M
est: 549.40M (+14.0%)
551.87M
528.07M – 571.10M
+0.4% YoY
582.39M
547.77M – 630.96M
+5.5% YoY
619.30M
617.48M – 621.13M
+6.3% YoY
665.11M
630.87M – 704.84M
+7.4% YoY
706.60M
670.22M – 748.81M
+6.2% YoY
EPS
0.82
est: 0.83 (-1.0%)
0.88
est: 0.91 (-3.1%)
1.13
est: 1.13 (+0.3%)
0.92
est: 1.01 (-9.0%)
0.77
est: 0.97 (-20.5%)
1.21
est: 1.18 (+2.3%)
1.57
est: 1.44 (+9.3%)
1.41
est: 1.48 (-4.5%)
1.79
est: 1.97 (-9.0%)
1.37
est: 1.28 (+7.2%)
2.64
est: 2.78 (-4.9%)
3.29
est: 2.84 (+16.0%)
3.25
est: 2.93 (+11.0%)
2.01
est: 1.84 (+9.1%)
1.61
est: 1.74 (-7.6%)
1.49
1.39 – 1.63
-14.3% YoY
1.88
1.08 – 2.38
+26.3% YoY
2.24
1.81 – 2.43
+19.1% YoY
2.77
2.59 – 2.99
+23.6% YoY
3.19
2.97 – 3.44
+14.9% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-11 B+ 3/5 4/5 3/5 4/5 2/5 2/5 3/5
2026-05-08 B+ 3/5 4/5 3/5 4/5 2/5 2/5 4/5
2026-05-07 B+ 3/5 4/5 3/5 4/5 2/5 2/5 4/5
2026-05-06 B+ 3/5 4/5 3/5 4/5 2/5 2/5 4/5
2026-05-05 B+ 3/5 4/5 3/5 4/5 2/5 2/5 3/5
2026-05-04 B+ 3/5 4/5 3/5 4/5 2/5 2/5 3/5
2026-04-30 B+ 3/5 4/5 3/5 4/5 2/5 2/5 3/5
2026-04-29 B+ 3/5 4/5 3/5 4/5 2/5 2/5 3/5
2026-04-28 B+ 3/5 4/5 3/5 4/5 2/5 2/5 3/5
2026-04-27 B+ 3/5 4/5 3/5 4/5 2/5 2/5 3/5
2026-04-24 B+ 3/5 4/5 3/5 5/5 1/5 2/5 3/5
2026-04-23 B+ 3/5 4/5 3/5 5/5 1/5 2/5 3/5
2026-04-22 B+ 3/5 4/5 3/5 5/5 1/5 2/5 3/5
2026-04-21 B+ 3/5 4/5 3/5 5/5 1/5 2/5 3/5
2026-04-20 B+ 3/5 4/5 3/5 5/5 1/5 2/5 3/5
2026-04-17 B+ 3/5 4/5 3/5 5/5 1/5 2/5 3/5
2026-04-16 B+ 3/5 4/5 3/5 5/5 1/5 2/5 3/5
2026-04-15 B+ 3/5 4/5 3/5 5/5 1/5 2/5 3/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
124.19M
OE per share TTM
1.42
Owner's Yield
5.55%
Maintenance CapEx ratio
4.85%
Maint CapEx / Avg PPE
13.4%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
38.1K
Shares Outstanding
87.54M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Justus Felix Wehmer Chief Financial Officer & Member of the Management Board 661.0K male
Christian Munster Head of Global Regulatory & Clinical Affairs, CoCe Site Jena & Emp. Rep. Member of Supervisory Board 41.0K
Euan S. Thomson President of Ophthalmic Devices and Head of the Ophthalmic Devices Strategic & Digital Business Unit
Eva-Maria Heine Chief Human Resources Officer
Magnus Reibenspiess Head of the Microsurgery Strategic Business Unit - ZEISS Medical Technology male
Sebastian Frericks Director of Investor Relations male
Stefanie Spanagel Chief Operating Officer
Andreas Pecher Interim Chairman of the Management Board & Interim CEO male
Steven C. Schallhorn Chief Medical Officer for Global Ophthalmic Devices male
Andrew Chang Head of Sales for Ophthalmic Devices & President of Carl Zeiss Meditec, Inc. male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits