Added to YB: 2025-09-26
Pitch date: 2025-08-10
FIE.DE [bullish]
Fielmann Group AG
-23.43%
current return
Author Info
No bio for this author
Company Info
Fielmann Group AG engages in vision care and audiology business in Germany, Switzerland, Austria, Spain, North America, and internationally.
Market Cap
EUR 4.4B
Pitch Price
EUR 55.70
Price Target
N/A
Dividend
2.21%
EV/EBITDA
9.19
P/E
25.53
EV/Sales
1.97
Sector
Specialty Retail
Category
value
Fielmann Group AG - $FIE.DE
FIE.DE: Family-owned optical retailer w/ 80% gross margins, 90%+ customer satisfaction, pricing 70% below brands via vertical integration. 30% ROIC mature stores fund US expansion. Targets €4bn revenue (+10% CAGR), 25% EBITDA margins by 2030. US margins 10% to 19% in 2025e via progressive lens mix, automation, optometrist utilization. Key risks: US execution, online disruption. 21% 5Y IRR at 20x rerating vs 8x EBITDA today.
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