Carl Zeiss Meditec AG
XETRA:AFX

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Carl Zeiss Meditec AG Logo
Carl Zeiss Meditec AG
XETRA:AFX
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Price: 26.3 EUR -2.08% Market Closed
Market Cap: €2.4B

EV/EBIT

14.3
Current
47%
Cheaper
vs 3-y average of 27.3

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
14.3
=
Enterprise Value
€2.8B
/
EBIT
€196.5m

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
14.3
=
Enterprise Value
€2.8B
/
EBIT
€196.5m

Valuation Scenarios

Carl Zeiss Meditec AG is trading below its 3-year average

If EV/EBIT returns to its 3-Year Average (27.3), the stock would be worth €50.03 (90% upside from current price).

Statistics
Positive Scenarios
4/4
Maximum Downside
No Downside Scenarios
Maximum Upside
+106%
Average Upside
55%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 14.3 €26.3
0%
3-Year Average 27.3 €50.03
+90%
5-Year Average 29.5 €54.22
+106%
Industry Average 16.2 €29.74
+13%
Country Average 15.5 €28.55
+9%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
€2.8B
/
Jan 2026
€196.5m
=
14.3
Current
€2.8B
/
Sep 2026
€216.5m
=
13.1
Forward
€2.8B
/
Sep 2027
€269.7m
=
10.5
Forward
€2.8B
/
Sep 2028
€297.9m
=
9.5
Forward
€2.8B
/
Sep 2029
€357.6m
=
7.9
Forward
€2.8B
/
Sep 2030
€414.1m
=
6.8
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
DE
Carl Zeiss Meditec AG
XETRA:AFX
2.3B EUR 14.3 18.9
US
Intuitive Surgical Inc
NASDAQ:ISRG
171.2B USD 55.9 60
US
Abbott Laboratories
NYSE:ABT
158.3B USD 18.8 25.2
US
Stryker Corp
NYSE:SYK
125.3B USD 23.9 38.6
IE
Medtronic PLC
NYSE:MDT
106.9B USD 18.8 23.2
US
Boston Scientific Corp
NYSE:BSX
92B USD 25.3 31.8
DE
Siemens Healthineers AG
XETRA:SHL
40B EUR 15.1 18.9
US
Edwards Lifesciences Corp
NYSE:EW
48.9B USD 27.2 45.5
US
IDEXX Laboratories Inc
NASDAQ:IDXX
45.1B USD 33.3 42.6
US
Becton Dickinson and Co
NYSE:BDX
43.3B USD 16.6 24.7
US
Resmed Inc
NYSE:RMD
32B USD 16.8 21.6

Market Distribution

In line with most companies in Germany
Percentile
45th
Based on 2 187 companies
45th percentile
14.3
Low
0.1 — 10.6
Typical Range
10.6 — 23.1
High
23.1 —
Distribution Statistics
Germany
Min 0.1
30th Percentile 10.6
Median 15.5
70th Percentile 23.1
Max 672.9

Carl Zeiss Meditec AG
Glance View

Carl Zeiss Meditec AG stands as a beacon in the realm of medical technology, carving a niche through its innovative solutions in ophthalmology and microsurgery. Rooted in the prestigious legacy of the Zeiss Group, this company seamlessly fuses cutting-edge technology with practical medical applications. Its headquarters in Jena, Germany, serve as the crucible for pioneering research and development endeavors, channeling expertise into products that enhance both diagnostic and surgical capabilities. The heart of its operations revolves around creating technological marvels such as optical coherence tomography (OCT) instruments and surgical microscopes, which bring precision and enhanced clarity to the medical field. Through a well-executed blend of R&D and strategic acquisitions, Carl Zeiss Meditec consistently remains at the forefront of medical innovation, ensuring it meets the ever-evolving needs of the healthcare sector. Financially, the company thrives by selling its sophisticated medical devices directly to healthcare professionals, hospitals, and clinics worldwide. Rather than merely creating instruments, Carl Zeiss Meditec's business model is deeply entwined with providing comprehensive workflow solutions and service support, ensuring that medical practitioners extract maximum utility from their investments. By offering not just products but also extensive after-sales service and maintenance, the company builds sustained relationships with its clients, fostering a cycle of trust and repeat business. In addition, its engagement in training and support services enhances user competencies, ensuring the seamless integration of its technology into everyday medical practice and underscoring its commitment to elevating healthcare standards globally. Through this multifaceted approach, Carl Zeiss Meditec solidifies its position as an indispensable ally in the medical community, both as a supplier of state-of-the-art equipment and as a provider of essential healthcare solutions.

AFX Intrinsic Value
56.57 EUR
Undervaluation 54%
Intrinsic Value
Price €26.3
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