Operating Margin

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Price: 7.9 EUR 3.27% Market Closed

Market Cap: €3.3B

12.6%

Improving

by 1.9%

Operating Margin shows how much profit a company makes from its regular business activities after covering operating costs. It helps measure how efficiently the company turns sales into profit.

Operating Margin

12.6%

Operating Income

€303.4m

Revenue

€2.4B

Operating Margin shows how much profit a company makes from its regular business activities after covering operating costs. It helps measure how efficiently the company turns sales into profit.

Operating Margin

12.6%

Operating Income

€303.4m

Revenue

€2.4B

Peer Comparison

Country		Company	Market Cap	Operating Margin
DE	F	Fielmann Group AG XMUN:FIE	3.5B EUR	Loading...
CH		Avolta AG SIX:AVOL	7B CHF	Loading...
IN	L	Lenskart Solutions Ltd NSE:LENSKART	733B INR	Loading...
IN	B	Brainbees Solutions Ltd NSE:FIRSTCRY	131.1B INR	Loading...
ID		MAP Aktif Adiperkasa Tbk PT IDX:MAPA	19T IDR	Loading...
IN		Thangamayil Jewellery Ltd BSE:533158	98.1B INR	Loading...
IN		P N Gadgil Jewellers Ltd NSE:PNGJL	76B INR	Loading...
SE	H	Haypp Group AB (publ) STO:HAYPP	3.6B SEK	Loading...
HK		Eternal Beauty Holdings Ltd HKEX:6883	2.8B HKD	Loading...
JP		Intermestic Inc TSE:262A	55.6B JPY	Loading...
HK	P	Pitanium Ltd NASDAQ:PTNM	239.1m USD	Loading...

Market Distribution

Min	-61 459.6%
30th Percentile	0.7%
Median	4.5%
70th Percentile	9.8%
Max	94 540%

Other Profitability Ratios

Fielmann Group AG
Glance View

Market Cap

3.3B EUR

Industry

Retail

Fielmann Group AG originated from humble beginnings in Germany in 1972 when Günther Fielmann, an optometrist with a vision, recognized a market opportunity to revolutionize the eyewear industry. At that time, the eyewear market was dominated by expensive options, with few affordable, stylish frames available to the average consumer. Fielmann saw this as a gap and introduced a new business model that offered a wide variety of fashionable, affordable eyewear with transparent pricing. The company's retail model not only prioritized consumer choice but also personalized customer service, creating a loyal customer base and positioning itself as a formidable player in eyewear retail. The introduction of in-house designs further propelled Fielmann’s growth, allowing for greater control over quality and pricing while enhancing its brand appeal. Today, Fielmann Group AG continues to lead the optical retail industry across Europe, with its strategic focus on vertical integration and direct interaction with consumers. The company operates under the principle of offering eyewear at unbeatable prices without compromising quality. Fielmann achieves this through its vast network of stores and online platforms, where it sells a mix of its proprietary eyewear collections along with renowned third-party brands. Revenue primarily stems from the sale of eyewear products—frames, lenses, sunglasses—alongside optometric services such as eye tests, which enhance the customer service experience. This comprehensive approach not only drives impressive sales figures but also ensures a steady stream of repeat customers, reinforcing the company's market dominance. By continuously adapting to consumer needs and incorporating technology in its offerings, Fielmann maintains a competitive edge, securing its position as a leading and innovative force in the optical and eyewear industry.

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What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

The AI Assistant may sometimes provide inaccurate information.

Make your own investment decisions or consult a licensed financial advisor.

Fielmann Group AG
F:FIE1

Peer Comparison

Market Distribution

Other Profitability Ratios

Fielmann Group AG
Glance View

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Fielmann Group AG F:FIE1