Carl Zeiss Meditec AG (XSWX:AFX) Forward PE Ratio Explanation
The Forward PE Ratio of a company is often used to compare current earnings to estimated future earnings, as well as gaining a clearer picture of what earnings will look like without charges and other accounting adjustments. If earnings are expected to grow in the future, the Forward PE Ratio will be lower than the current PE Ratio. This measure is also used to compare one company to another with a forward-looking focus.
Trailing PE Ratio relies on what is already done. It uses the current share price and divides by the total EPS (Basic) over the past 12 months. PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than PE Ratio .
Carl Zeiss Meditec AG Forward PE Ratio Related Terms
Carl Zeiss Meditec AG Forward PE Ratio Historical Data
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The historical data trend for Carl Zeiss Meditec AG's Forward PE Ratio 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.
Carl Zeiss Meditec AG Forward PE Ratio Chart
Carl Zeiss Meditec AG Annual Data
Trend
2016-09
2018-09
2019-09
2020-09
2021-09
2022-09
Forward PE Ratio
25.06
39.53
38.61
68.03
47.85
56.82
Carl Zeiss Meditec AG Quarterly Data
2016-09
2016-12
2017-03
2017-06
2017-12
2018-03
2018-06
2018-09
2018-12
2019-03
2019-06
2019-09
2020-03
2020-06
2020-09
2020-12
2021-03
2021-06
2021-09
2021-12
2022-03
2022-06
2022-09
2022-12
2023-03
Forward PE Ratio
25.06
23.04
30.03
30.30
28.25
31.35
35.34
39.53
38.31
41.15
41.15
38.61
55.87
52.91
68.03
68.49
53.48
48.54
47.85
60.98
58.14
53.19
56.82
54.64
48.08
XSWX:AFX vs ISRG, BDX, MDLN: Forward PE Ratio Comparison
For the Medical Instruments & Supplies subindustry, Carl Zeiss Meditec AG's Forward PE Ratio, along with its competitors' market caps and Forward PE Ratio 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 Forward PE Ratio vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Carl Zeiss Meditec AG's Forward PE Ratio distribution charts can be found below:
* The bar in red indicates where Carl Zeiss Meditec AG's Forward PE Ratio falls into.
Carl Zeiss Meditec AG Forward PE Ratio Calculation
It's a measure of the price-to-earnings ratio (PE Ratio) using forecasted earnings for the calculation. While the earnings used are just an estimate and are not as reliable as current earnings data, there is still benefit in estimated P/E analysis. The forecasted earnings used in the formula can either be for the next 12 months or for the next full-year fiscal period.
Carl Zeiss Meditec AG (XSWX:AFX) has a Forward PE Ratio of 18.42 as of Jul. 04, 2026. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Carl Zeiss Meditec AG and its competitors. According to the industry distribution chart, Carl Zeiss Meditec AG ranks #182 out of 392 companies in the Medical Devices & Instruments industry, placing it in the top 46.4%.
Is Carl Zeiss Meditec AG's Forward PE Ratio too high?
Carl Zeiss Meditec AG's current Forward PE Ratio is 18.42. The Medical Devices & Instruments industry median Forward PE Ratio is 19.24. Carl Zeiss Meditec AG's value of 18.42 is 4.3% below this industry median. Based on the distribution chart, Carl Zeiss Meditec AG ranks #182 out of 392 companies in the Medical Devices & Instruments industry, which is above the industry midpoint. Overall, Carl Zeiss Meditec AG has a GF Score™ of 67/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Carl Zeiss Meditec AG's Forward PE Ratio compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Carl Zeiss Meditec AG ranks #182 out of 392 companies for Forward PE Ratio. This puts Carl Zeiss Meditec AG in the upper half of its industry. The industry median Forward PE Ratio is 19.24. Carl Zeiss Meditec AG's value of 18.42 is 4.3% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Forward PE Ratio for a Medical Devices & Instruments company?
The median Forward PE Ratio among Medical Devices & Instruments companies is 19.24, based on 392 companies in the industry. Companies in the top quartile (top 25%) have a Forward PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Forward PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Carl Zeiss Meditec AG's current Forward PE Ratio of 18.42 is 4.3% below 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 Forward PE Ratio mean?
A high Forward PE Ratio can signal that a stock is expensive relative to its fundamentals. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Carl Zeiss Meditec AG and its competitors. For the Medical Devices & Instruments industry, the median Forward PE Ratio is 19.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carl Zeiss Meditec AG's current Forward PE Ratio is 18.42. 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?
Based on GuruFocus' analysis, Carl Zeiss Meditec AG (XSWX:AFX) is currently considered Significantly Undervalued. The stock's GF Value™ is CHF65.76, compared to a current price of CHF25.86 — trading 60.7% below its estimated fair value. The current Forward PE Ratio is 18.42 and 4.3% below the Medical Devices & Instruments industry median of 19.24. Carl Zeiss Meditec AG's overall GF Score™ is 67/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Forward PE Ratio calculated?
Forward PE Ratio is calculated from a company's financial statements. For Carl Zeiss Meditec AG (XSWX:AFX), the current Forward PE Ratio is 18.42 as of Jul. 04, 2026. 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 CHF25.86 is trading 60.7% below its estimated GF Value™ of CHF65.76.
GuruFocus considers Carl Zeiss Meditec AG to be Significantly Undervalued.
Key valuation signals for XSWX:AFX:
Forward PE Ratio: 18.42
GF Value™: CHF65.76 vs. price of CHF25.86 (60.7% below fair value)
Industry Position: 4.3% below the Medical Devices & Instruments median (#182 of 392)
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.
67GF Score
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