Added to YB: 2026-02-16
Pitch date: 2026-02-12
AFX.DE [bullish]
Carl Zeiss Meditec AG
+4.81%
current return
Author Info
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Company Info
Carl Zeiss Meditec AG operates as a medical technology company in Germany, rest of Europe, North America, and Asia.
Market Cap
EUR 2.4B
Pitch Price
EUR 25.76
Price Target
50.00 (+85%)
Dividend
2.03%
EV/EBITDA
9.67
P/E
16.81
EV/Sales
1.30
Sector
Health Care Equipment and Supplies
Category
turnaround
Carl Zeiss Meditec: A Wounded Enterprise With an Unbreakable Foundation
AFX.DE: Medtech co w/ inalienable foundation ownership, #2 in ophthalmology globally. Down 60% from 2021 peak to €28 (P/E 17x vs 10yr avg 43x). FY24/25: €2.2B rev (+8%), but EBIT margin compressed to 10% vs 16-20% target. Q1 FY25/26 profit warning: EBITA collapsed to €8M. Risks: 2 CEO exits in 7mo, China IOL tender pricing pressure (42% rev APAC). Tailwinds: order backlog +18%, FCF €204M, DORC acquisition adds recurring rev, aging demographics. Balance sheet solid. Extreme overselling may present entry point if margins recover & mgmt stabilizes.
Read full article (8 min)