Carl Zeiss Meditec AGXSWX:AFX 78 3-Year ROIIC % is -23.21 as of Sep. 2025. GuruFocus rates XSWX:AFX with a GF Score™ of 78/100 and a GF Value™ of CHF68.94 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 800 Medical Devices & Instruments companies, Carl Zeiss Meditec AG ranks worse than 70.75% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Carl Zeiss Meditec AG's 3-Year ROIIC % for the quarter that ended in Sep. 2025 was -23.21%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Carl Zeiss Meditec AG's 3-Year ROIIC % or its related term are showing as below:
XSWX:AFX's 3-Year ROIIC % is ranked worse than 70.75% of 800
companies
in the Medical Devices & Instruments industry
Industry Median: 1.455
vs XSWX:AFX: -23.21
Carl Zeiss Meditec AG (XSWX:AFX) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Carl Zeiss Meditec AG 3-Year ROIIC % Related Terms
Carl Zeiss Meditec AG 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Carl Zeiss Meditec AG's 3-Year ROIIC % 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: 3-Year ROIIC % Comparison
For the Medical Instruments & Supplies subindustry, Carl Zeiss Meditec AG's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Carl Zeiss Meditec AG's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Carl Zeiss Meditec AG's 3-Year ROIIC % 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Carl Zeiss Meditec AG (XSWX:AFX) has a 3-Year ROIIC % of -23.21 as of Sep. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Carl Zeiss Meditec AG and its competitors. According to the industry distribution chart, Carl Zeiss Meditec AG ranks #566 out of 800 companies in the Medical Devices & Instruments industry, placing it in the top 70.7%.
Is Carl Zeiss Meditec AG's 3-Year ROIIC % too high?
Carl Zeiss Meditec AG's current 3-Year ROIIC % is -23.21. Based on the distribution chart, Carl Zeiss Meditec AG ranks #566 out of 800 companies in the Medical Devices & Instruments industry, which is below the industry midpoint. Overall, Carl Zeiss Meditec AG has a GF Score™ of 78/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Carl Zeiss Meditec AG's 3-Year ROIIC % compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Carl Zeiss Meditec AG ranks #566 out of 800 companies for 3-Year ROIIC %. This places Carl Zeiss Meditec AG in the lower half of its industry. The industry median 3-Year ROIIC % is 1.46. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for a Medical Devices & Instruments company?
The median 3-Year ROIIC % among Medical Devices & Instruments companies is 1.46, based on 800 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % 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 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Carl Zeiss Meditec AG and its competitors. For the Medical Devices & Instruments industry, the median 3-Year ROIIC % is 1.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carl Zeiss Meditec AG's current 3-Year ROIIC % is -23.21. 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 CHF68.94, compared to a current price of CHF25.10 — trading 63.6% below its estimated fair value. The current 3-Year ROIIC % is -23.21. 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 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Carl Zeiss Meditec AG (XSWX:AFX), the current 3-Year ROIIC % is -23.21 as of Sep. 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 CHF25.10 is trading 63.6% below its estimated GF Value™ of CHF68.94.
GuruFocus considers Carl Zeiss Meditec AG to be Significantly Undervalued.
Key valuation signals for XSWX:AFX:
3-Year ROIIC %: -23.21
GF Value™: CHF68.94 vs. price of CHF25.10 (63.6% 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.
78GF Score
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