Carl Zeiss Meditec AGXSWX:AFX 69 Owner Earnings per Share (TTM) is 0.00 as of Dec. 2025. GuruFocus rates XSWX:AFX with a GF Score™ of 69/100 and a GF Value™ of CHF64.87 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 312 Medical Devices & Instruments companies, Carl Zeiss Meditec AG ranks worse than 320512.5% on this metric.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
Carl Zeiss Meditec AG does not have enough data to calculate Owner Earnings per Share (TTM), so as Price-to-Owner-Earnings ratio.
The historical rank and industry rank for Carl Zeiss Meditec AG's Owner Earnings per Share (TTM) or its related term are showing as below:
XSWX:AFX's Price-to-Owner-Earnings is not ranked *
in the Medical Devices & Instruments industry.
Industry Median: 24.695 * Ranked among companies with meaningful Price-to-Owner-Earnings only.
Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.
Note: GuruFocus' Change In Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.
Carl Zeiss Meditec AG Owner Earnings per Share (TTM) Related Terms
Carl Zeiss Meditec AG Owner Earnings per Share (TTM) Historical Data
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The historical data trend for Carl Zeiss Meditec AG's Owner Earnings per Share (TTM) 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 Owner Earnings per Share (TTM) Chart
XSWX:AFX vs ISRG, BDX, MDLN: Owner Earnings per Share (TTM) Comparison
For the Medical Instruments & Supplies subindustry, Carl Zeiss Meditec AG's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings 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-Owner-Earnings vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Carl Zeiss Meditec AG's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Carl Zeiss Meditec AG's Price-to-Owner-Earnings falls into.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
What does a Owner Earnings per Share (TTM) of 0.00 mean?
Carl Zeiss Meditec AG (XSWX:AFX) has a Owner Earnings per Share (TTM) of 0.00 as of Dec. 2025. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Carl Zeiss Meditec AG. Over the past decade, Carl Zeiss Meditec AG's Owner Earnings per Share (TTM) has ranged from 18.41 to 120.26. According to the industry distribution chart, Carl Zeiss Meditec AG ranks #999999 out of 312 companies in the Medical Devices & Instruments industry.
Is Carl Zeiss Meditec AG's Owner Earnings per Share (TTM) too high?
Carl Zeiss Meditec AG's current Owner Earnings per Share (TTM) is 0.00. Over the past 10 years, this metric has ranged from a low of 18.41 to a high of 120.26. Based on the distribution chart, Carl Zeiss Meditec AG ranks #999999 out of 312 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, Carl Zeiss Meditec AG has a GF Score™ of 69/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Carl Zeiss Meditec AG's Owner Earnings per Share (TTM) compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Carl Zeiss Meditec AG ranks #999999 out of 312 companies for Owner Earnings per Share (TTM). This places Carl Zeiss Meditec AG in the lower half of its industry. The industry median Owner Earnings per Share (TTM) is 24.70. Historically, Carl Zeiss Meditec AG's own Owner Earnings per Share (TTM) has ranged from 18.41 to 120.26 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 Owner Earnings per Share (TTM) for a Medical Devices & Instruments company?
The median Owner Earnings per Share (TTM) among Medical Devices & Instruments companies is 24.70, based on 312 companies in the industry. Companies in the top quartile (top 25%) have a Owner Earnings per Share (TTM) significantly above this median, while those in the bottom quartile fall well below. However, Owner Earnings per Share (TTM) 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 Owner Earnings per Share (TTM) mean?
A high Owner Earnings per Share (TTM) can signal that a stock is expensive relative to its fundamentals. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Carl Zeiss Meditec AG. For the Medical Devices & Instruments industry, the median Owner Earnings per Share (TTM) is 24.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carl Zeiss Meditec AG's current Owner Earnings per Share (TTM) is 0.00. 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 CHF64.87, compared to a current price of CHF25.86 — trading 60.1% below its estimated fair value. The current Owner Earnings per Share (TTM) is 0.00. Carl Zeiss Meditec AG's overall GF Score™ is 69/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Owner Earnings per Share (TTM) calculated?
Owner Earnings per Share (TTM) is calculated from a company's financial statements. For Carl Zeiss Meditec AG (XSWX:AFX), the current Owner Earnings per Share (TTM) is 0.00 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 CHF25.86 is trading 60.1% below its estimated GF Value™ of CHF64.87.
GuruFocus considers Carl Zeiss Meditec AG to be Significantly Undervalued.
Key valuation signals for XSWX:AFX:
Owner Earnings per Share (TTM): 0.00
GF Value™: CHF64.87 vs. price of CHF25.86 (60.1% 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.
69GF Score
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