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Carl Zeiss Meditec AGXSWX:AFX 75 Intrinsic Value: Projected FCF is CHF24.14 as of Aug. 15, 2026, which is 100% below its 10-year median of 3.48. GuruFocus rates XSWX:AFX with a GF Score™ of 75/100 and a GF Value™ of CHF64.20. The stock has 3 warning signs investors should review. Among 401 Medical Devices & Instruments companies, Carl Zeiss Meditec AG ranks better than 65.84% on this metric.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.
The historical rank and industry rank for Carl Zeiss Meditec AG's Intrinsic Value: Projected FCF or its related term are showing as below:
XSWX:AFX'
s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 0.8 Med: 3.48 Max: 11.06
Current: 1.17
During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of Carl Zeiss Meditec AG was 11.06. The lowest was 0.80. And the median was 3.48.
XSWX:AFX's Price-to-Projected-FCF is ranked better than 65.84% of 401
companies
in the Medical Devices & Instruments industry
Industry Median: 1.5
vs XSWX:AFX: 1.17
Carl Zeiss Meditec AG (XSWX:AFX) Intrinsic Value: Projected FCF Explanation
The growth multiple is capped between 8.35 and 17.74.
Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.
Carl Zeiss Meditec AG's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as
Price-to-Intrinsic-Value-Projected-FCF
=
Share Price
/
Intrinsic Value: Projected FCF
=
28.14
/
27.326490164488
=
1.03
* 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 Intrinsic Value: Projected FCF Related Terms
Carl Zeiss Meditec AG Intrinsic Value: Projected FCF Historical Data
* Premium members only.
The historical data trend for Carl Zeiss Meditec AG's Intrinsic Value: Projected FCF 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 Intrinsic Value: Projected FCF Chart
XSWX:AFX vs ISRG, BDX, MDLN: Intrinsic Value: Projected FCF Comparison
For the Medical Instruments & Supplies subindustry, Carl Zeiss Meditec AG's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF 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 Price-to-Projected-FCF vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Carl Zeiss Meditec AG's Price-to-Projected-FCF distribution charts can be found below:
* The bar in red indicates where Carl Zeiss Meditec AG's Price-to-Projected-FCF falls into.
Carl Zeiss Meditec AG Intrinsic Value: Projected FCF Calculation
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.
The details of how we calculate the intrinsic value of stocks are described in detail here.
This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.
* 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.
What does a Intrinsic Value: Projected FCF of CHF24.14 mean?
Carl Zeiss Meditec AG (XSWX:AFX) has a Intrinsic Value: Projected FCF of CHF24.14 as of Aug. 15, 2026. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Carl Zeiss Meditec AG and its competitors. This is 594% above median its historical median of 3.48. Over the past decade, Carl Zeiss Meditec AG's Intrinsic Value: Projected FCF has ranged from 0.80 to 11.06. According to the industry distribution chart, Carl Zeiss Meditec AG ranks #137 out of 401 companies in the Medical Devices & Instruments industry, placing it in the top 34.2%.
Is Carl Zeiss Meditec AG's Intrinsic Value: Projected FCF too high?
Carl Zeiss Meditec AG's current Intrinsic Value: Projected FCF of CHF24.14 is 594% above median its 10-year median of 3.48. Over the past 10 years, this metric has ranged from a low of 0.80 to a high of 11.06. Based on the distribution chart, Carl Zeiss Meditec AG ranks #137 out of 401 companies in the Medical Devices & Instruments industry, which is above the industry midpoint. Overall, Carl Zeiss Meditec AG has a GF Score™ of 75/100, reflecting its overall financial health beyond just this single metric.
How does Carl Zeiss Meditec AG's Intrinsic Value: Projected FCF compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Carl Zeiss Meditec AG ranks #137 out of 401 companies for Intrinsic Value: Projected FCF. This puts Carl Zeiss Meditec AG in the upper half of its industry. The industry median Intrinsic Value: Projected FCF is 1.50. Historically, Carl Zeiss Meditec AG's own Intrinsic Value: Projected FCF has ranged from 0.80 to 11.06 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Intrinsic Value: Projected FCF for a Medical Devices & Instruments company?
The median Intrinsic Value: Projected FCF among Medical Devices & Instruments companies is 1.50, based on 401 companies in the industry. Companies in the top quartile (top 25%) have a Intrinsic Value: Projected FCF significantly above this median, while those in the bottom quartile fall well below. However, Intrinsic Value: Projected FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Intrinsic Value: Projected FCF mean?
A high Intrinsic Value: Projected FCF can signal that a stock is expensive relative to its fundamentals. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Carl Zeiss Meditec AG and its competitors. For the Medical Devices & Instruments industry, the median Intrinsic Value: Projected FCF is 1.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carl Zeiss Meditec AG's current Intrinsic Value: Projected FCF is CHF24.14, which is 594% above median its own 10-year median of 3.48. 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 Intrinsic Value: Projected FCF of CHF24.14. The stock's GF Value™ is CHF64.20, compared to a current price of CHF28.14 — trading 56.2% below its estimated fair value. The current Intrinsic Value: Projected FCF is CHF24.14, which is 594% above median its 10-year median of 3.48. Carl Zeiss Meditec AG's overall GF Score™ is 75/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Intrinsic Value: Projected FCF calculated?
Intrinsic Value: Projected FCF is calculated from a company's financial statements. For Carl Zeiss Meditec AG (XSWX:AFX), the current Intrinsic Value: Projected FCF is CHF24.14 as of Aug. 15, 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 CHF28.14 is trading 56.2% below its estimated GF Value™ of CHF64.20.
Key valuation signals for XSWX:AFX:
Intrinsic Value: Projected FCF: CHF24.14 (594% above median its 10-year median of 3.48)
GF Value™: CHF64.20 vs. price of CHF28.14 (56.2% below fair value)
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.
75GF Score
Get the complete analysis for XSWX:AFX
Intrinsic Value: Projected FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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