Carl Zeiss Meditec AG

BIT:1AFX Stock Report

Market Cap: €5.2b

Carl Zeiss Meditec Valuation

Is 1AFX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 1AFX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€88.66
Fair Value
32.4% undervalued intrinsic discount
16
Number of Analysts

Below Fair Value: 1AFX (€59.9) is trading below our estimate of fair value (€88.66)

Significantly Below Fair Value: 1AFX is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1AFX?

Key metric: As 1AFX is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 1AFX. This is calculated by dividing 1AFX's market cap by their current earnings.
What is 1AFX's PE Ratio?
PE Ratio33.3x
Earnings€157.03m
Market Cap€5.23b

Price to Earnings Ratio vs Peers

How does 1AFX's PE Ratio compare to its peers?

The above table shows the PE ratio for 1AFX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.8x
DIA DiaSorin
28.4x12.7%€5.3b
ELN EL.En
11.7x2.0%€723.1m
AMP Amplifon
27x13.1%€3.9b
IMD I.M.D. International Medical Devices
12.1xn/a€27.0m
1AFX Carl Zeiss Meditec
33.3x19.6%€5.2b

Price-To-Earnings vs Peers: 1AFX is expensive based on its Price-To-Earnings Ratio (33.3x) compared to the peer average (19.8x).

Price to Earnings Ratio vs Industry

How does 1AFX's PE Ratio compare vs other companies in the European Medical Equipment Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
1AFX 33.3xIndustry Avg. 30.5xNo. of Companies10PE01632486480+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 1AFX is expensive based on its Price-To-Earnings Ratio (33.3x) compared to the European Medical Equipment industry average (30.4x).

Price to Earnings Ratio vs Fair Ratio

What is 1AFX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

1AFX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio33.3x
Fair PE Ratio31.2x

Price-To-Earnings vs Fair Ratio: 1AFX is expensive based on its Price-To-Earnings Ratio (33.3x) compared to the estimated Fair Price-To-Earnings Ratio (31.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 1AFX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€59.90
€60.72
+1.4%
18.3%€86.50€41.00n/a16
Apr ’26€59.25
€60.59
+2.3%
17.7%€86.50€41.00n/a16
Mar ’26€59.95
€58.50
-2.4%
17.3%€86.50€41.00n/a15
Feb ’26€58.50
€59.17
+1.1%
18.3%€86.50€40.00n/a15
Jan ’26€45.86
€61.30
+33.7%
17.5%€86.50€40.00n/a15
Dec ’25€56.10
€67.13
+19.7%
13.3%€90.00€54.00n/a15
Nov ’25€57.55
€68.80
+19.5%
14.1%€90.00€54.00n/a15
Oct ’25€66.25
€70.00
+5.7%
13.5%€90.00€54.00n/a15
Sep ’25€66.45
€71.13
+7.0%
12.1%€90.00€56.00n/a15
Aug ’25€63.45
€75.07
+18.3%
14.9%€105.00€56.00n/a15
Jul ’25€66.20
€82.00
+23.9%
24.9%€140.00€56.00n/a15
Jun ’25€84.25
€103.87
+23.3%
19.6%€145.00€68.00n/a15
May ’25€99.10
€108.67
+9.7%
18.4%€150.00€70.00€60.8515
Apr ’25€116.15
€105.47
-9.2%
21.8%€150.00€59.00€59.2515
Mar ’25€116.05
€101.93
-12.2%
19.7%€140.00€59.00€59.9514
Feb ’25€101.55
€97.57
-3.9%
21.4%€140.00€52.00€58.5014
Jan ’25€98.68
€96.62
-2.1%
20.6%€140.00€52.00€45.8613
Dec ’24€84.08
€103.08
+22.6%
16.9%€140.00€74.00€56.1012
Nov ’24€80.08
€105.73
+32.0%
14.9%€140.00€87.00€57.5511
Oct ’24€82.72
€113.36
+37.0%
19.3%€175.00€87.00€66.2511
Sep ’24€91.58
€114.36
+24.9%
19.6%€175.00€87.00€66.4511
Aug ’24€103.80
€127.36
+22.7%
17.9%€175.00€90.00€63.4511
Jul ’24€99.02
€130.64
+31.9%
16.8%€175.00€90.00€66.2011
Jun ’24€108.80
€130.64
+20.1%
16.8%€175.00€90.00€84.2511
May ’24€121.55
€134.27
+10.5%
18.7%€175.00€90.00€99.1011
AnalystConsensusTarget
Consensus Narrative from 16 Analysts
€60.82
Fair Value
1.5% undervalued intrinsic discount
16
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/05/02 11:24
End of Day Share Price 2025/05/02 00:00
Earnings2024/12/31
Annual Earnings2024/09/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Carl Zeiss Meditec AG is covered by 32 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Samuel EnglandBerenberg
Scott BardoBerenberg
Julien OuaddourBofA Global Research