Carl Zeiss Meditec AG

OTCPK:CZMW.F Stock Report

Market Cap: US$5.5b

Carl Zeiss Meditec Valuation

Is CZMW.F 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 CZMW.F when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CZMW.F ($61.22) is trading above our estimate of fair value ($61.11)

Significantly Below Fair Value: CZMW.F is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CZMW.F?

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

The above table shows the Price to Earnings ratio for CZMW.F. This is calculated by dividing CZMW.F's market cap by their current earnings.
What is CZMW.F's PE Ratio?
PE Ratio25.7x
Earnings€203.20m
Market Cap€5.23b

Price to Earnings Ratio vs Peers

How does CZMW.F's PE Ratio compare to its peers?

The above table shows the PE ratio for CZMW.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average76.3x
ITGR Integer Holdings
38.4x20.8%US$4.5b
MASI Masimo
109.7x29.6%US$8.6b
TFX Teleflex
37.5x22.8%US$8.9b
LIVN LivaNova
119.5x48.1%US$2.8b
CZMW.F Carl Zeiss Meditec
25.7x16.3%US$5.2b

Price-To-Earnings vs Peers: CZMW.F is good value based on its Price-To-Earnings Ratio (25.7x) compared to the peer average (76.3x).

Price to Earnings Ratio vs Industry

How does CZMW.F's PE Ratio compare vs other companies in the US Medical Equipment Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MHUA Meihua International Medical Technologies
1.3xn/aUS$12.37m
PAVM PAVmed
0.8x-77.8%US$11.86m
RTSL Rapid Therapeutic Science Laboratories
0.3xn/aUS$18.99k
UTRS Minerva Surgical
n/an/aUS$8.00
No more companies available in this PE range
CZMW.F 25.7xIndustry Avg. 37.2xNo. of Companies10PE020406080100+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CZMW.F is good value based on its Price-To-Earnings Ratio (25.7x) compared to the US Medical Equipment industry average (37.2x).

Price to Earnings Ratio vs Fair Ratio

What is CZMW.F'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.

CZMW.F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio25.7x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate CZMW.F's Price-To-Earnings Fair Ratio for valuation analysis.

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 CZMW.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$61.22
US$71.38
+16.6%
12.9%US$94.75US$56.85n/a15
Nov ’25US$64.71
US$74.39
+15.0%
14.1%US$97.32US$58.39n/a15
Oct ’25US$78.88
US$77.55
-1.7%
13.5%US$99.70US$59.82n/a15
Sep ’25n/a
US$78.36
0%
12.1%US$99.14US$61.69n/a15
Aug ’25US$65.88
US$81.25
+23.3%
14.9%US$113.65US$60.61n/a15
Jul ’25US$68.29
US$88.04
+28.9%
24.9%US$150.31US$60.12n/a15
Jun ’25US$92.90
US$112.69
+21.3%
19.6%US$157.32US$73.78n/a15
May ’25US$111.20
US$115.95
+4.3%
18.4%US$160.05US$74.69n/a15
Apr ’25US$118.26
US$114.82
-2.9%
21.8%US$163.31US$64.24n/a15
Mar ’25US$124.75
US$110.60
-11.3%
19.7%US$151.91US$64.02n/a14
Feb ’25US$109.50
US$106.18
-3.0%
21.4%US$152.36US$56.59n/a14
Jan ’25US$107.29
US$105.48
-1.7%
20.6%US$152.84US$56.77n/a13
Dec ’24n/a
US$112.11
0%
16.9%US$152.26US$80.48n/a12
Nov ’24US$82.38
US$111.72
+35.6%
14.9%US$147.93US$91.93US$64.7111
Oct ’24US$88.00
US$121.54
+38.1%
19.3%US$187.63US$93.28US$78.8811
Sep ’24n/a
US$124.35
0%
19.6%US$190.28US$94.60n/a11
Aug ’24US$115.62
US$141.75
+22.6%
17.9%US$194.77US$100.17US$65.8811
Jul ’24n/a
US$142.63
0%
16.8%US$191.07US$98.26US$68.2911
Jun ’24US$116.00
US$142.63
+23.0%
16.8%US$191.07US$98.26US$92.9011
May ’24US$137.25
US$147.29
+7.3%
18.7%US$191.97US$98.73US$111.2011
Apr ’24n/a
US$147.98
0%
22.9%US$205.72US$80.18US$118.2611
Mar ’24US$138.50
US$147.98
+6.8%
22.9%US$205.72US$80.18US$124.7511
Feb ’24US$139.25
US$147.05
+5.6%
24.7%US$210.42US$74.46US$109.5011
Jan ’24US$124.75
US$145.47
+16.6%
25.8%US$207.20US$73.32US$107.2910
Dec ’23US$132.88
US$144.19
+8.5%
24.9%US$201.49US$71.30n/a11
Nov ’23n/a
US$139.30
0%
25.3%US$192.65US$68.17US$82.3811

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

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