AFX:XETRCarl Zeiss Meditec AG Analysis
Data as of 2026-06-21 - not real-time
€24.94
Latest Price
7/10Risk
Risk Level: Medium
Executive Summary
Technical outlook: The stock is trading at €24.94, well below its 20‑day (≈25.78) and 50‑day (≈26.15) SMAs and far under the 200‑day SMA (≈34.11), signaling a bearish trend. The MACD histogram is negative and the RSI sits at 42, indicating limited upside momentum. Volume is increasing, but the 30‑day volatility is high at ~54%, and the price is hovering just above the nearest support (€24.40) with resistance near €27.02.
Fundamental backdrop: Revenue fell 6.4% YoY to €2.17 bn and operating margins have slipped to 4.9%, while the forward EPS (≈€1.86) suggests modest earnings recovery. The DCF‑derived fair value of €6.89 is dramatically lower than the current price, implying the market may be overvaluing the stock. Nonetheless, the dividend yield of 2.21% with a 44% payout ratio appears sustainable given free cash flow of €88 m, and analysts rate the stock as a "hold" with a median target of €29, indicating ~16% upside from today.
Fundamental backdrop: Revenue fell 6.4% YoY to €2.17 bn and operating margins have slipped to 4.9%, while the forward EPS (≈€1.86) suggests modest earnings recovery. The DCF‑derived fair value of €6.89 is dramatically lower than the current price, implying the market may be overvaluing the stock. Nonetheless, the dividend yield of 2.21% with a 44% payout ratio appears sustainable given free cash flow of €88 m, and analysts rate the stock as a "hold" with a median target of €29, indicating ~16% upside from today.
Market Outlook
Short Term
< 1 yearNeutral
Model confidence: 5/10
Key Factors
- Bearish technical positioning below key moving averages
- High short‑term volatility and proximity to support level
- Attractive dividend yield providing downside cushion
Medium Term
1–3 yearsNeutral
Model confidence: 6/10
Key Factors
- Analyst median target price (~€29) suggests modest upside
- Forward earnings improvement and lower forward PE vs industry
- Continued revenue pressure but stable cash flow supporting dividend
Long Term
> 3 yearsPositive
Model confidence: 7/10
Key Factors
- Strategic position in ophthalmology and microsurgery with growth potential
- Sustainable dividend and low debt‑to‑equity (≈27.6%)
- Diversified geographic exposure reducing single‑market risk
Key Metrics & Analysis
Financial Health
Revenue Growth-6.40%
Profit Margin4.38%
P/E Ratio18.2
ROE4.54%
ROA2.74%
Debt/Equity27.56
P/B Ratio1.0
Op. Cash Flow€300.3M
Free Cash Flow€88.2M
Industry P/E24.1
Technical Analysis
TrendBearish
RSI42.3
Support€24.40
Resistance€27.02
MA 20€25.78
MA 50€26.15
MA 200€34.11
MACDBearish
VolumeIncreasing
Fear & Greed Index91.46
Valuation
Fair Value€6.89
Target Price€30.05
Upside/Downside20.50%
GradeOvervalued
TypeValue
Dividend Yield2.21%
Risk Assessment
Beta0.13
Volatility54.31%
Sector RiskMedium
Reg. RiskHigh
Geo RiskMedium
Currency RiskMedium
Liquidity RiskLow
Similar Tickers
This analysis may contain inaccuracies and is provided for informational and research purposes only. It is not personal investment advice, a recommendation, or an instruction to buy, sell, or hold any asset.