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The historical rank and industry rank for Carl Zeiss Meditec AG's Price-to-Tangible-Book or its related term are showing as below:
XSWX:AFX'
s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 3.67 Med: 7.63 Max: 17.68
Current: 5.48
During the past 13 years, Carl Zeiss Meditec AG's highest Price to Tangible Book Ratio was 17.68. The lowest was 3.67. And the median was 7.63.
XSWX:AFX's Price-to-Tangible-Book is ranked worse than 75.39% of 703
companies
in the Medical Devices & Instruments industry
Industry Median: 2.6
vs XSWX:AFX: 5.48
Some businesses have very light assets, such as software companies or insurance agencies. The Price-to-Book Ratio does not work well for these companies. Some companies even have negative equity, so the Price-to-Book Ratio cannot be applied to them.
Carl Zeiss Meditec AG Price-to-Tangible-Book Related Terms
Carl Zeiss Meditec AG Price-to-Tangible-Book Historical Data
* Premium members only.
The historical data trend for Carl Zeiss Meditec AG's Price-to-Tangible-Book 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 Price-to-Tangible-Book Chart
XSWX:AFX vs ISRG, BDX, RMD: Price-to-Tangible-Book Comparison
For the Medical Instruments & Supplies subindustry, Carl Zeiss Meditec AG's Price-to-Tangible-Book, along with its competitors' market caps and Price-to-Tangible-Book 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-Tangible-Book vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Carl Zeiss Meditec AG's Price-to-Tangible-Book distribution charts can be found below:
* The bar in red indicates where Carl Zeiss Meditec AG's Price-to-Tangible-Book 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called PB Ratio. The difference between Price-to-Tangible-Book Ratio and PB Ratio is that book value other than intangibles are used in the calculation.
Carl Zeiss Meditec AG (XSWX:AFX) has a Price-to-Tangible-Book of 5.68 as of Sep. 13, 2026. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on Carl Zeiss Meditec AG and its competitors. According to the industry distribution chart, Carl Zeiss Meditec AG ranks #530 out of 703 companies in the Medical Devices & Instruments industry, placing it in the top 75.4%.
Is Carl Zeiss Meditec AG's Price-to-Tangible-Book too high?
Carl Zeiss Meditec AG's current Price-to-Tangible-Book is 5.68. The Medical Devices & Instruments industry median Price-to-Tangible-Book is 2.60. Carl Zeiss Meditec AG's value of 5.68 is 118.5% above this industry median. Based on the distribution chart, Carl Zeiss Meditec AG ranks #530 out of 703 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 78/100, reflecting its overall financial health beyond just this single metric.
How does Carl Zeiss Meditec AG's Price-to-Tangible-Book compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Carl Zeiss Meditec AG ranks #530 out of 703 companies for Price-to-Tangible-Book. This places Carl Zeiss Meditec AG in the lower half of its industry. The industry median Price-to-Tangible-Book is 2.60. Carl Zeiss Meditec AG's value of 5.68 is 118.5% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Price-to-Tangible-Book for a Medical Devices & Instruments company?
The median Price-to-Tangible-Book among Medical Devices & Instruments companies is 2.60, based on 703 companies in the industry. Companies in the top quartile (top 25%) have a Price-to-Tangible-Book significantly above this median, while those in the bottom quartile fall well below. However, Price-to-Tangible-Book should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Carl Zeiss Meditec AG's current Price-to-Tangible-Book of 5.68 is 118.5% 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 Price-to-Tangible-Book mean?
A high Price-to-Tangible-Book can signal that a stock is expensive relative to its fundamentals. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on Carl Zeiss Meditec AG and its competitors. For the Medical Devices & Instruments industry, the median Price-to-Tangible-Book is 2.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carl Zeiss Meditec AG's current Price-to-Tangible-Book is 5.68. 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 Price-to-Tangible-Book of 5.68. The stock's GF Value™ is CHF71.65, compared to a current price of CHF29.36 — trading 59% below its estimated fair value. The current Price-to-Tangible-Book is 5.68 and 118.5% above the Medical Devices & Instruments industry median of 2.60. 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 Price-to-Tangible-Book calculated?
Price-to-Tangible-Book is calculated from a company's financial statements. For Carl Zeiss Meditec AG (XSWX:AFX), the current Price-to-Tangible-Book is 5.68 as of Sep. 13, 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 CHF29.36 is trading 59% below its estimated GF Value™ of CHF71.65.
Key valuation signals for XSWX:AFX:
Price-to-Tangible-Book: 5.68
GF Value™: CHF71.65 vs. price of CHF29.36 (59% below fair value)
Industry Position: 118.5% above the Medical Devices & Instruments median (#530 of 703)
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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