Zeiss Challenged by Market Developments in 2026, but Strong Long-Term Fundamentals Intact
Carl Zeiss Meditec is one of the largest medical technology companies in the world. It operates in two segments: ophthalmology and microsurgery.
Carl Zeiss Meditec AG AFX
Bulls Say, Bears Say
Bulls
Favorable industrywide trends, such as the aging population, increasing prevalence of myopia, and growing access to advanced healthcare across the globe, will act as tailwinds for Zeiss.
Bears
The US is Zeiss’ second-largest market. The company’s limited portfolio of intraocular lenses and weak presence in the surgical space here are further threatened by competitors.
Trading Information
- Previous Close Price
- €34.40
- Day Range
- €34.08–35.02
- 52-Week Range
- €22.62–46.54
- Bid/Ask
- €0.00 / €0.00
- Shares Outstanding
- 87.54M
- Market Cap
- €3.01B
- Volume/Avg
- 93,006 / 176,367
Key Statistics
- Price/Earnings (Normalized)
- 22.42
- Price/Sales
- 1.38
- Dividend Yield (Trailing)
- 1.60%
- Dividend Yield (Forward)
- 1.60%
- Dividend Payment Schedule
- Mar
- Total Yield
- 1.60%
Company Profile
Carl Zeiss Meditec is one of the largest visioncare technology companies in the world. Its ophthalmology segment, which made up about 75% of sales in 2025, includes refractive lasers, surgical ophthalmic devices, equipment for ophthalmic diagnostics, intraocular lenses, and disposable medical instruments. With a low-teens share of the market, Zeiss is the second-largest player in the space. The microsurgery segment is composed of implants, surgical instruments, and visualization devices used during neurosurgery, spine surgery, and otolaryngology surgery. With over 60% share, Zeiss is the clear leader in this market.
- Sector
- Healthcare
- Industry
- Medical Instruments & Supplies
- Stock Style Box
- Mid Core
- Total Number of Employees
- 5,798
- Website
- https://www.zeiss.com
Competitors
Valuation
Metric | AFX | BLCO | JNJ |
|---|---|---|---|
Price/Earnings (Normalized) | 22.42 | 47.47 | 26.62 |
Price/Book Value | 1.42 | 1.17 | 8.37 |
Price/Sales | 1.38 | 1.39 | 6.98 |
Price/Cash Flow | 12.23 | 12.32 | 32.21 |
Price/Earnings
AFX
BLCO
JNJ
Financial Strength
Metric | AFX | BLCO | JNJ |
|---|---|---|---|
Quick Ratio | 1.40 | 0.85 | 0.65 |
Current Ratio | 2.34 | 1.56 | 1.02 |
Interest Coverage | 7.20 | 0.96 | 18.14 |
Quick Ratio
AFX
BLCO
JNJ
Profitability
Metric | AFX | BLCO | JNJ |
|---|---|---|---|
Return on Assets (Normalized) | — | 2.35% | 13.13% |
Return on Equity (Normalized) | — | 5.08% | 31.88% |
Return on Invested Capital (Normalized) | — | 5.19% | 20.08% |
Return on Assets
AFX
BLCO
JNJ
Medical Instruments & Supplies Industry Comparables
1-Day Chart | Name | Price | Morningstar Rating for Stocks | Capital Allocation | Economic Moat | Market Cap |
|---|---|---|---|---|---|---|
| Intuitive Surgical Inc ISRG | LOCK|sWmnB%Nt | LOCK|dht | $152B | |||
| Becton Dickinson & Co BDX | LOCK|t<< | LOCK|gGc@ | $59B | |||
| Medline Inc Ordinary Shares - Class A MDLN | LOCK|%h^^VK> | LOCK|h^cQt | $35B | |||
| Alcon Inc ALC | LOCK|yX@?Sm | LOCK|!<??& | $35B | |||
| ResMed Inc RMD | LOCK|^sMPqDT | LOCK|xBmP | $34B | |||
| West Pharmaceutical Services Inc WST | LOCK|pmvwFW> | LOCK|LP | $29B | |||
| Solventum Corp SOLV | LOCK|M#@hhml | LOCK|M!T | $15B | |||
| Baxter International Inc BAX | LOCK|%c | LOCK|d%MS% | $13B | |||
| The Cooper Companies Inc COO | LOCK|h!n><Xx | LOCK|P>$K% | $12B | |||
| Align Technology Inc ALGN | LOCK|KW%w?%? | LOCK|>YqrK | $12B |
United States