Carl Zeiss Meditec AG

OTCPK:CZMW.F Stock Report

Market Cap: US$4.4b

Carl Zeiss Meditec Valuation

Is CZMW.F undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 ($50.46) is trading below our estimate of fair value ($77.26)

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

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 Ratio23.4x
Earnings€178.73m
Market Cap€4.18b

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 Average49.2x
ITGR Integer Holdings
37.9x21.4%US$4.6b
LIVN LivaNova
109.1x48.2%US$2.7b
TFX Teleflex
33.7x22.8%US$8.3b
CNMD CONMED
16.3x13.8%US$2.2b
CZMW.F Carl Zeiss Meditec
23.4x16.1%US$4.2b

Price-To-Earnings vs Peers: CZMW.F is good value based on its Price-To-Earnings Ratio (23.4x) compared to the peer average (51.3x).

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
BDMD Baird Medical Investment Holdings
4.4xn/aUS$54.03m
MHUA Meihua International Medical Technologies
0.8xn/aUS$12.80m
PAVM PAVmed
0.5x-90.0%US$7.47m
RTSL Rapid Therapeutic Science Laboratories
0.3xn/aUS$18.99k
No more companies available in this PE range
CZMW.F 23.4xIndustry Avg. 36.0xNo. of Companies8PE020406080100+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CZMW.F is good value based on its Price-To-Earnings Ratio (23.4x) compared to the US Medical Equipment industry average (35.7x).

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 Ratio23.4x
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$50.46
US$64.29
+27.4%
17.5%US$90.72US$41.95n/a15
Dec ’25n/a
US$70.46
0%
13.3%US$94.46US$56.68n/a15
Nov ’25US$64.71
US$74.39
+15.0%
14.1%US$97.32US$58.39n/a15
Oct ’25US$78.88
US$77.79
-1.4%
13.5%US$100.01US$60.01n/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

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 01:16
End of Day Share Price 2024/12/16 00:00
Earnings2024/09/30
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 here.

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 .

Analyst Sources

Carl Zeiss Meditec AG is covered by 32 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Pierre-Yves GauthierAlphaValue
Samuel EnglandBerenberg
Scott BardoBerenberg