Carl Zeiss Meditec AG AFX

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€100.90 +0.60 (0.60%)

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As of Apr 29, 2024 11:41am Delayed Price Open

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Company Report

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Carl Zeiss Starts 2024 on a Disappointing Note, With Weak Contributions From China and Americas

Keonhee Kim Apr 11, 2024

Carl Zeiss Meditec is one of the largest medical technology companies in the world and it operates in two segments: ophthalmic devices, or OPT, and microsurgery, or MCS.

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Price vs Fair Value

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AFX is trading within a range we consider fairly valued.

Price

€102.60

Apr 23, 2024

Fair Value

€47.00

Feb 9, 2024

Uncertainty

Medium

1-Star Price: €539.30
5-Star Price: €32.90
Economic Moat: Mpnwffr
Capital Allocation: Vplgtgp

Bulls Say, Bears Say

Bulls

Favorable industrywide trends, such as the aging population, an increasing prevalence of myopia, and a growing access to advanced healthcare across the globe, will act as tailwinds for Zeiss.

Bears

The US represents Zeiss’ second-largest market and the company’s limited portfolio of intraocular lenses and a weak presence in the surgical space in the region is further threatened by its competitors.

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Trading Information

Previous Close Price: €100.30
Day Range: €100.50–101.10
52-Week Range: €72.60–124.35
Bid/Ask: €100.80 / €101.00
Market Cap: €9.02 Bil
Volume/Avg: 11,128 / 133,236

Key Statistics

Price/Earnings (Normalized): 31.29
Price/Sales: 4.28
Dividend Yield (Trailing): 1.10%
Dividend Yield (Forward): 1.10%
Total Yield: 1.11%

Company Profile

Carl Zeiss Meditec is one of the largest medical technology companies in the world and it operates in two segments: Ophthalmic devices and Microsurgery. OPT, which made up 75% of sales in 2022, includes refractive lasers, surgical ophthalmic devices, equipment for ophthalmic diagnostics, as well as a portfolio of intraocular lenses and disposable medical instruments. With a low-teens share of the market, Zeiss is the second-largest player in the space. MCS is composed of implants, surgical instruments, and visualization devices used during neurosurgery, spine surgery, and otolaryngology surgery. With over 60% market share, Zeiss is the clear leader in the microsurgery space.

Sector: Healthcare
Industry: Medical Instruments & Supplies
Stock Style Box: Mid Growth
Total Number of Employees: 4,823
Website: https://www.zeiss.com

Competitors

Johnson & Johnson

JNJ

Valuation

Metric	AFX	JNJ
Price/Earnings (Normalized)	31.29	14.07
Price/Book Value	4.15	5.14
Price/Sales	4.28	4.12
Price/Cash Flow	23.81	18.53

Price/Earnings

AFX

JNJ

Financial Strength

Metric	AFX	JNJ
Quick Ratio	2.41	0.91
Current Ratio	3.40	1.16
Interest Coverage	22.05	18.88

Quick Ratio

AFX

JNJ

Profitability

Metric	AFX	JNJ
Return on Assets (Normalized)	—	13.98%
Return on Equity (Normalized)	—	35.02%
Return on Invested Capital (Normalized)	—	22.24%

Return on Assets

AFX

JNJ

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