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Carl Zeiss Meditec AGXSWX:AFX -0.48%78 Debt-to-Equity is 0.29 as of Sep. 2025, which is 480% above its 10-year median of 0.05. GuruFocus rates XSWX:AFX with a GF Score™ of 78/100 and a GF Value™ of CHF71.65. The stock has 4 warning signs investors should review. Among 698 Medical Devices & Instruments companies, Carl Zeiss Meditec AG ranks better than 79.51% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Carl Zeiss Meditec AG's Debt-to-Equity or its related term are showing as below:
XSWX:AFX'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0 Med: 0.05 Max: 0.11
Current: 0.06
During the past 13 years, the highest Debt-to-Equity Ratio of Carl Zeiss Meditec AG was 0.11. The lowest was 0.00. And the median was 0.05.
XSWX:AFX's Debt-to-Equity is ranked better than 79.51% of 698
companies
in the Medical Devices & Instruments industry
Industry Median: 0.24
vs XSWX:AFX: 0.06
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Carl Zeiss Meditec AG Debt-to-Equity Related Terms
Carl Zeiss Meditec AG Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Carl Zeiss Meditec AG's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
XSWX:AFX vs ISRG, BDX, RMD: Debt-to-Equity Comparison
For the Medical Instruments & Supplies subindustry, Carl Zeiss Meditec AG's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Carl Zeiss Meditec AG Debt-to-Equity vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Carl Zeiss Meditec AG's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Carl Zeiss Meditec AG's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Carl Zeiss Meditec AG (XSWX:AFX) has a Debt-to-Equity of 0.29 as of Sep. 2025. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Carl Zeiss Meditec AG and its competitors. This is 480% above median its historical median of 0.05. According to the industry distribution chart, Carl Zeiss Meditec AG ranks #143 out of 698 companies in the Medical Devices & Instruments industry, placing it in the top 20.5%.
Is Carl Zeiss Meditec AG's Debt-to-Equity too high?
Carl Zeiss Meditec AG's current Debt-to-Equity of 0.29 is 480% above median its 10-year median of 0.05. The Medical Devices & Instruments industry median Debt-to-Equity is 0.24. Carl Zeiss Meditec AG's value of 0.29 is 20.8% above this industry median. Based on the distribution chart, Carl Zeiss Meditec AG ranks #143 out of 698 companies in the Medical Devices & Instruments industry, which is in the top quartile — a strong position relative to peers. Overall, Carl Zeiss Meditec AG has a GF Score™ of 78/100, reflecting its overall financial health beyond just this single metric.
How does Carl Zeiss Meditec AG's Debt-to-Equity compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Carl Zeiss Meditec AG ranks #143 out of 698 companies for Debt-to-Equity. This places Carl Zeiss Meditec AG in the top 21% of its industry — outperforming the majority of peers. The industry median Debt-to-Equity is 0.24. Carl Zeiss Meditec AG's value of 0.29 is 20.8% above this benchmark. While the company's 10-year median is 0.05 vs. the industry median of 0.24, Carl Zeiss Meditec AG has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Medical Devices & Instruments company?
The median Debt-to-Equity among Medical Devices & Instruments companies is 0.24, based on 698 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Carl Zeiss Meditec AG's current Debt-to-Equity of 0.29 is 20.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Carl Zeiss Meditec AG and its competitors. For the Medical Devices & Instruments industry, the median Debt-to-Equity is 0.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carl Zeiss Meditec AG's current Debt-to-Equity is 0.29, which is 480% above median its own 10-year median of 0.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Carl Zeiss Meditec AG stock overvalued right now?
Carl Zeiss Meditec AG (XSWX:AFX) has a current Debt-to-Equity of 0.29. The stock's GF Value™ is CHF71.65, compared to a current price of CHF29.22 — trading 59.2% below its estimated fair value. The current Debt-to-Equity is 0.29, which is 480% above median its 10-year median of 0.05 and 20.8% above the Medical Devices & Instruments industry median of 0.24. Carl Zeiss Meditec AG's overall GF Score™ is 78/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Carl Zeiss Meditec AG (XSWX:AFX), the current Debt-to-Equity is 0.29 as of Sep. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Carl Zeiss Meditec AG (XSWX:AFX) Overvalued in 2026?
Based on GuruFocus' analysis, Carl Zeiss Meditec AG stock appears to be undervalued.
The current stock price of CHF29.22 is trading 59.2% below its estimated GF Value™ of CHF71.65.
Key valuation signals for XSWX:AFX:
Debt-to-Equity: 0.29 (480% above median its 10-year median of 0.05)
GF Value™: CHF71.65 vs. price of CHF29.22 (59.2% below fair value)
Industry Position: 20.8% above the Medical Devices & Instruments median (#143 of 698)
No single metric tells the full story. See the XSWX:AFX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Carl Zeiss Meditec is one of the largest visioncare technology companies in the world, and it operates in two segments: ophthalmic devices and microsurgery. OPT, which made up about 75% of sales in 2025, includes refractive lasers, surgical ophthalmic devices, equipment for ophthalmic diagnostics, as well as a portfolio of intraocular lenses and disposable medical instruments. With a low-teens share of the market, Zeiss is the second-largest player in the space. MCS is composed of implants, surgical instruments, and visualization devices used during neurosurgery, spine surgery, and otolaryngology surgery. With over 60% market share, Zeiss is the clear leader in the microsurgery space.
78GF Score
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