Financials Carl Zeiss Meditec AG London S.E.

Equities

0DHC

DE0005313704

Advanced Medical Equipment & Technology

Market Closed - London S.E. 16:30:00 13/05/2024 BST 5-day change 1st Jan Change
93.22 EUR -2.31% Intraday chart for Carl Zeiss Meditec AG -6.60% -5.46%

Valuation

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 9,355 9,660 14,852 9,610 7,407 8,318 - -
Enterprise Value (EV) 1 8,678 8,952 14,016 8,823 6,683 8,762 8,776 8,642
P/E ratio 58.4 x 78.8 x 62.9 x 32.7 x 25.5 x 32.8 x 25.7 x 22.4 x
Yield 0.62% 0.46% 0.54% 1.02% 1.33% 1.13% 1.31% 1.48%
Capitalization / Revenue 6.41 x 7.23 x 9.02 x 5.05 x 3.55 x 3.74 x 3.27 x 3.01 x
EV / Revenue 5.95 x 6.7 x 8.51 x 4.64 x 3.2 x 3.94 x 3.45 x 3.13 x
EV / EBITDA 27.3 x 37.6 x 32.2 x 18.9 x 15.8 x 19.9 x 15.5 x 13.4 x
EV / FCF 36.7 x 67 x 42.1 x 60.7 x 48.8 x 39.5 x 30.3 x 26.1 x
FCF Yield 2.73% 1.49% 2.37% 1.65% 2.05% 2.53% 3.3% 3.83%
Price to Book 6.69 x 6.75 x 8.95 x 4.77 x 3.43 x 3.61 x 3.31 x 3.01 x
Nbr of stocks (in thousands) 89,441 89,441 89,441 89,441 89,441 89,441 - -
Reference price 2 104.6 108.0 166.0 107.4 82.82 93.00 93.00 93.00
Announcement Date 06/12/19 12/12/20 10/12/21 09/12/22 12/12/23 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,459 1,335 1,647 1,903 2,089 2,225 2,546 2,760
EBITDA 1 318.1 238 435.2 466.6 422.2 440.2 566.9 643.9
EBIT 1 235 177.6 373.6 396.9 348.1 341.1 467.6 538.4
Operating Margin 16.1% 13.3% 22.69% 20.86% 16.66% 15.33% 18.37% 19.51%
Earnings before Tax (EBT) 1 229.9 178.7 339 403.5 412.6 362.9 454.4 525.1
Net income 1 159.8 122.4 236.3 293.9 290.4 251.1 319.4 366.1
Net margin 10.95% 9.16% 14.35% 15.45% 13.9% 11.28% 12.54% 13.27%
EPS 2 1.790 1.370 2.640 3.290 3.250 2.837 3.618 4.153
Free Cash Flow 1 236.6 133.5 332.5 145.4 137 222 289.9 331
FCF margin 16.21% 10% 20.19% 7.64% 6.56% 9.98% 11.39% 11.99%
FCF Conversion (EBITDA) 74.37% 56.11% 76.41% 31.16% 32.45% 50.43% 51.13% 51.4%
FCF Conversion (Net income) 148.1% 109.12% 140.74% 49.47% 47.18% 88.42% 90.77% 90.4%
Dividend per Share 2 0.6500 0.5000 0.9000 1.100 1.100 1.047 1.223 1.373
Announcement Date 06/12/19 12/12/20 10/12/21 09/12/22 12/12/23 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: September 2020 S1 2021 S1 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 Q1 2025 Q2 2025 Q3
Net sales 1 714.9 767.4 410.2 445.2 855.4 477.5 569.9 470.3 504.2 974.5 535.1 579.7 475 472.1 947.2 582.9 700.2 - - - -
EBITDA 1 - - - - - - - - 101.9 - - - - - 133.6 137.7 198.5 330 - - -
EBIT 1 105.3 162.7 - 102.9 177.3 98.58 121 63.1 83.62 - 101 103.2 46 49 95 100 - 278 - - -
Operating Margin 14.73% 21.2% - 23.11% 20.73% 20.64% 21.23% 13.42% 16.58% - 18.88% 17.81% 9.68% 10.38% 10.03% 17.16% - - - - -
Earnings before Tax (EBT) 1 96.1 - - 120.1 - 88.33 141 - 90.71 - 132.3 116.5 54.7 67.34 - 113.7 162 - - - -
Net income 1 - - - 90.73 - 62.53 102.7 - 62 - 92.15 85.2 37.4 46.48 - 79.2 113.3 - - - -
Net margin - - - 20.38% - 13.1% 18.02% - 12.3% - 17.22% 14.7% 7.87% 9.84% - 13.59% 16.18% - - - -
EPS 2 - 1.120 0.4200 1.020 - 0.7000 1.150 0.5700 0.6900 - 1.030 0.9600 0.4200 0.5200 - 0.8841 1.245 - - - -
Dividend per Share 2 - - - - - - 1.100 - - - - 1.100 - - - - 1.027 - - - -
Announcement Date 11/05/20 28/05/21 11/02/22 13/05/22 13/05/22 05/08/22 09/12/22 14/02/23 15/05/23 15/05/23 06/08/23 12/12/23 14/02/24 07/05/24 07/05/24 - - - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - 444 458 324
Net Cash position 1 678 707 835 787 725 - - -
Leverage (Debt/EBITDA) - - - - - 1.009 x 0.808 x 0.5035 x
Free Cash Flow 1 237 134 333 145 137 222 290 331
ROE (net income / shareholders' equity) 11.9% 8.65% 15.3% 16% 13.4% 11.4% 13% 13.9%
ROA (Net income/ Total Assets) 8.67% 6.07% 10.7% 11.3% 9.92% 7.46% 8.15% 8.84%
Assets 1 1,842 2,016 2,205 2,609 2,928 3,366 3,917 4,143
Book Value Per Share 2 15.60 16.00 18.60 22.50 24.10 25.70 28.10 30.90
Cash Flow per Share 2 2.460 2.000 4.050 2.100 2.800 5.090 4.260 4.780
Capex 1 20.3 45 30.1 82 114 91.3 106 111
Capex / Sales 1.39% 3.37% 1.83% 4.31% 5.45% 4.1% 4.16% 4.02%
Announcement Date 06/12/19 12/12/20 10/12/21 09/12/22 12/12/23 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
15
Last Close Price
93 EUR
Average target price
107.3 EUR
Spread / Average Target
+15.34%
Consensus
  1. Stock Market
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  5. Financials Carl Zeiss Meditec AG