Carl Zeiss Meditec AGXSWX:AFX 79 Gross Margin % is 48.63% as of Dec. 2025, which is 13% below its 10-year median of 55.65. GuruFocus rates XSWX:AFX with a GF Score™ of 79/100 and a GF Value™ of CHF67.74 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 805 Medical Devices & Instruments companies, Carl Zeiss Meditec AG ranks better than 50.19% on this metric.
XSWX:AFX's Gross Margin % is ranked better than 50.19% of 805
companies
in the Medical Devices & Instruments industry
Industry Median: 52.07
vs XSWX:AFX: 52.18
Carl Zeiss Meditec AG had a gross margin of 48.63% for the quarter that ended in Dec. 2025 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Carl Zeiss Meditec AG was -1.80% per year.
Carl Zeiss Meditec AG (XSWX:AFX) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Carl Zeiss Meditec AG had a gross margin of 48.63% for the quarter that ended in Dec. 2025 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Carl Zeiss Meditec AG Gross Margin % Related Terms
Carl Zeiss Meditec AG Gross Margin % Historical Data
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The historical data trend for Carl Zeiss Meditec AG's Gross Margin % 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, MDLN: Gross Margin % Comparison
For the Medical Instruments & Supplies subindustry, Carl Zeiss Meditec AG's Gross Margin %, along with its competitors' market caps and Gross Margin % 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 Gross Margin % vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Carl Zeiss Meditec AG's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Carl Zeiss Meditec AG's Gross Margin % 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.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Carl Zeiss Meditec AG (XSWX:AFX) has a Gross Margin % of 48.63% as of Dec. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on Carl Zeiss Meditec AG and its competitors. This is 13% below median its historical median of 55.65. Over the past decade, Carl Zeiss Meditec AG's Gross Margin % has ranged from 52.18 to 59.26. According to the industry distribution chart, Carl Zeiss Meditec AG ranks #401 out of 805 companies in the Medical Devices & Instruments industry, placing it in the top 49.8%.
Is Carl Zeiss Meditec AG's Gross Margin % too high?
Carl Zeiss Meditec AG's current Gross Margin % of 48.63% is 13% below median its 10-year median of 55.65. Over the past 10 years, this metric has ranged from a low of 52.18 to a high of 59.26. The Medical Devices & Instruments industry median Gross Margin % is 52.07. Carl Zeiss Meditec AG's value of 48.63% is 6.6% below this industry median. Based on the distribution chart, Carl Zeiss Meditec AG ranks #401 out of 805 companies in the Medical Devices & Instruments industry, which is above the industry midpoint. Overall, Carl Zeiss Meditec AG has a GF Score™ of 79/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Carl Zeiss Meditec AG's Gross Margin % compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Carl Zeiss Meditec AG ranks #401 out of 805 companies for Gross Margin %. This puts Carl Zeiss Meditec AG in the upper half of its industry. The industry median Gross Margin % is 52.07. Carl Zeiss Meditec AG's value of 48.63% is 6.6% below this benchmark. Historically, Carl Zeiss Meditec AG's own Gross Margin % has ranged from 52.18 to 59.26 over the past decade. While the company's 10-year median is 55.65 vs. the industry median of 52.07, Carl Zeiss Meditec AG has consistently been below 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 Gross Margin % for a Medical Devices & Instruments company?
The median Gross Margin % among Medical Devices & Instruments companies is 52.07, based on 805 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Carl Zeiss Meditec AG's current Gross Margin % of 48.63% is 6.6% 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 Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Carl Zeiss Meditec AG and its competitors. For the Medical Devices & Instruments industry, the median Gross Margin % is 52.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carl Zeiss Meditec AG's current Gross Margin % is 48.63%, which is 13% below median its own 10-year median of 55.65. 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 CHF67.74, compared to a current price of CHF24.80 — trading 63.4% below its estimated fair value. The current Gross Margin % is 48.63%, which is 13% below median its 10-year median of 55.65 and 6.6% below the Medical Devices & Instruments industry median of 52.07. Carl Zeiss Meditec AG's overall GF Score™ is 79/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Carl Zeiss Meditec AG (XSWX:AFX), the current Gross Margin % is 48.63% as of Dec. 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 CHF24.80 is trading 63.4% below its estimated GF Value™ of CHF67.74.
GuruFocus considers Carl Zeiss Meditec AG to be Significantly Undervalued.
Key valuation signals for XSWX:AFX:
Gross Margin %: 48.63% (13% below median its 10-year median of 55.65)
GF Value™: CHF67.74 vs. price of CHF24.80 (63.4% below fair value)
Industry Position: 6.6% below the Medical Devices & Instruments median (#401 of 805)
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.
79GF Score
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