Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Carl Zeiss Meditec AG's annualizedNet Income for the quarter that ended in Dec. 2025 was CHF-18 Mil. Carl Zeiss Meditec AG's average total tangible assets for the quarter that ended in Dec. 2025 was CHF1,655 Mil. Therefore, Carl Zeiss Meditec AG's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was -1.11%.
The historical rank and industry rank for Carl Zeiss Meditec AG's Return-on-Tangible-Asset or its related term are showing as below:
XSWX:AFX'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 6.88 Med: 10.45 Max: 14.46
Current: 6.88
During the past 13 years, Carl Zeiss Meditec AG's highest Return-on-Tangible-Asset was 14.46%. The lowest was 6.88%. And the median was 10.45%.
XSWX:AFX's Return-on-Tangible-Asset is ranked better than 72.9% of 856
companies
in the Medical Devices & Instruments industry
Industry Median: 0.595
vs XSWX:AFX: 6.88
Carl Zeiss Meditec AG (XSWX:AFX) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Carl Zeiss Meditec AG Return-on-Tangible-Asset Related Terms
Carl Zeiss Meditec AG Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Carl Zeiss Meditec AG's Return-on-Tangible-Asset 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 Return-on-Tangible-Asset Chart
XSWX:AFX vs ISRG, BDX, MDLN: Return-on-Tangible-Asset Comparison
For the Medical Instruments & Supplies subindustry, Carl Zeiss Meditec AG's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Carl Zeiss Meditec AG's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Carl Zeiss Meditec AG's Return-on-Tangible-Asset 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of -1.11% mean?
Carl Zeiss Meditec AG (XSWX:AFX) has a Return-on-Tangible-Asset of -1.11% as of Dec. 2025. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Carl Zeiss Meditec AG and its competitors. Over the past decade, Carl Zeiss Meditec AG's Return-on-Tangible-Asset has ranged from 6.88 to 14.46. According to the industry distribution chart, Carl Zeiss Meditec AG ranks #232 out of 856 companies in the Medical Devices & Instruments industry, placing it in the top 27.1%.
Is Carl Zeiss Meditec AG's Return-on-Tangible-Asset too high?
Carl Zeiss Meditec AG's current Return-on-Tangible-Asset is -1.11%. Over the past 10 years, this metric has ranged from a low of 6.88 to a high of 14.46. Based on the distribution chart, Carl Zeiss Meditec AG ranks #232 out of 856 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 Return-on-Tangible-Asset compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Carl Zeiss Meditec AG ranks #232 out of 856 companies for Return-on-Tangible-Asset. This puts Carl Zeiss Meditec AG in the upper half of its industry. The industry median Return-on-Tangible-Asset is 0.60. Historically, Carl Zeiss Meditec AG's own Return-on-Tangible-Asset has ranged from 6.88 to 14.46 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 Return-on-Tangible-Asset for a Medical Devices & Instruments company?
The median Return-on-Tangible-Asset among Medical Devices & Instruments companies is 0.60, based on 856 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Carl Zeiss Meditec AG and its competitors. For the Medical Devices & Instruments industry, the median Return-on-Tangible-Asset is 0.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carl Zeiss Meditec AG's current Return-on-Tangible-Asset is -1.11%. 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 Return-on-Tangible-Asset is -1.11%. 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 Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Carl Zeiss Meditec AG (XSWX:AFX), the current Return-on-Tangible-Asset is -1.11% 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 60.7% below its estimated GF Value™ of CHF65.76.
GuruFocus considers Carl Zeiss Meditec AG to be Significantly Undervalued.
Key valuation signals for XSWX:AFX:
Return-on-Tangible-Asset: -1.11%
GF Value™: CHF65.76 vs. price of CHF25.86 (60.7% 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.
67GF Score
Get the complete analysis for XSWX:AFX
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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