FIE Stock Analysis: Fielmann Aktiengesellschaft | XETRA
Medical Instruments & Supplies | XETRA, Germany | Market Cap: 3.291m EUR | 12M Return: -24.5% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 2.70M
EPS Trend: 94.8%
Rev. Trend: 98.5%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality
Fielmann Group AG is a Germany-based vision care and audiology company that manufactures and sells optical products-including prescription glasses, frames, lenses, sunglasses, contact lenses, and ready-made reading aids-alongside hearing systems and personal protective equipment. It operates a multi-brand portfolio across multiple countries, serving customers through a combination of digital sales channels, brick-and-mortar retail stores, and an e-commerce platform (Befitting).
The company sits within the broader health care equipment and supplies industry, an area that benefits from long-term demographic tailwinds such as aging populations and rising incidence of vision and hearing impairment. Fielmanns vertically integrated business model-combining in-house manufacturing of eyewear with direct-to-consumer retail-helps it maintain competitive pricing and high store-level productivity, a key differentiator in the otherwise fragmented European optical retail market. The group is controlled by Korva SE and traces its origins to 1972 in Hamburg.
- US optical acquisitions accelerate international revenue growth
- German core market pressured by online optical competition
- Hearing aids segment expansion lifts group margin mix
| Net Income: 207.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA -0.61 > 1.0 |
| NWC/Revenue: 4.44% < 20% (prev -12.93%; Δ 17.37% < -1%) |
| CFO/TA 0.17 > 3% & CFO 464.7m > Net Income 207.5m |
| Net Debt (1.26b) to EBITDA (532.0m): 2.37 < 3 |
| Current Ratio: 1.19 > 1.5 & < 3 |
| Outstanding Shares: last quarter (84.4m) vs 12m ago 0.69% < -2% |
| Gross Margin: 27.23% > 18% (prev 80.23%; Δ -52.99% > 0.5%) |
| Asset Turnover: 97.56% > 50% (prev 98.27%; Δ -0.71% > 0%) |
| Interest Coverage Ratio: 7.56 > 6 (EBIT TTM 333.8m / Interest Expense TTM 44.1m) |
| A: 0.04 (Total Current Assets 676.4m - Total Current Liabilities 567.4m) / Total Assets 2.66b |
| B: 0.30 (Retained Earnings 807.5m / Total Assets 2.66b) |
| C: 0.13 (EBIT TTM 333.8m / Avg Total Assets 2.52b) |
| D: 0.60 (Book Value of Equity 998.2m / Total Liabilities 1.67b) |
| Altman-Z'' = 2.78 = A |
As of July 28, 2026, the stock is trading at EUR 40.30 with a total of 44,970 shares traded. Over the past week, the price has changed by +0.62%, over one month by -3.73%, over three months by -6.44% and over the past year by -24.49%.
Current recommended Stop Loss: 39.10 (which is 3% or 1.3 ATR below the current price).
Fielmann Aktiengesellschaft has no consensus analysts rating.
P/E Trailing = 16.0656
P/E Forward = 19.7628
P/S = 1.3469
P/B = 3.3523
P/EG = 3.2037
Revenue TTM = 2.46b EUR
EBIT TTM = 333.8m EUR
EBITDA TTM = 532.0m EUR
Long Term Debt = 278.8m EUR (from longTermDebt, last fiscal year)
Short Term Debt = 98.2m EUR (from shortTermDebt, last fiscal year)
Debt = 1.48b EUR (from shortLongTermDebtTotal, last fiscal year) + Leases 599.9m
Net Debt = 1.26b EUR (calculated: Debt 1.48b - CCE 222.5m)
Enterprise Value = 4.55b EUR (3.29b + Debt 1.48b - CCE 222.5m)
Interest Coverage Ratio = 7.56 (Ebit TTM 333.8m / Interest Expense TTM 44.1m)
EV/FCF = 12.93x (Enterprise Value 4.55b / FCF TTM 352.0m)
FCF Yield = 7.73% (FCF TTM 352.0m / Enterprise Value 4.55b)
FCF Margin = 14.34% (FCF TTM 352.0m / Revenue TTM 2.46b)
Net Margin = 8.45% (Net Income TTM 207.5m / Revenue TTM 2.46b)
Gross Margin = 27.23% ((Revenue TTM 2.46b - Cost of Revenue TTM 1.79b) / Revenue TTM)
Gross Margin QoQ = 81.13% (prev -135.7%)
Tobins Q-Ratio = 1.71 (Enterprise Value 4.55b / Total Assets 2.66b)
Interest Expense / Debt = 2.98% (Interest Expense 44.1m / Debt 1.48b)
Taxrate = 29.16% (86.1m / 295.2m)
NOPAT = 236.4m (EBIT 333.8m * (1 - 29.16%))
Current Ratio = 1.19 (Total Current Assets 676.4m / Total Current Liabilities 567.4m)
Debt / Equity = 1.49 (Debt 1.48b / totalStockholderEquity, last quarter 998.2m)
Debt / EBITDA = 2.37 (Net Debt 1.26b / EBITDA 532.0m)
Debt / FCF = 3.58 (Net Debt 1.26b / FCF TTM 352.0m)
Total Stockholder Equity = 977.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 8.24% (Net Income 207.5m / Total Assets 2.66b)
RoE = 21.23% (Net Income TTM 207.5m / Total Stockholder Equity 977.4m)
RoCE = 26.57% (EBIT 333.8m / Capital Employed (Equity 977.4m + L.T.Debt 278.8m))
RoIC = 11.40% (NOPAT 236.4m / Invested Capital 2.07b)
WACC = 4.85% (E(3.29b)/V(4.78b) * Re(6.08%) + D(1.48b)/V(4.78b) * Rd(2.98%) * (1-Tc(0.29)))
Discount Rate = 6.08% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -32.42 | Cagr: 0.05%
[DCF] Terminal Value 76.38% ; FCFF base≈342.2m ; Y1≈365.0m ; Y5≈436.3m
[DCF] Fair Price = 64.80 (EV 6.70b - Net Debt 1.26b = Equity 5.44b / Shares 84.0m; r=8.35% [WACC [floored]]; 5y FCF grow 7.52% → 2.50% )
EPS Correlation: 94.83 | EPS CAGR: 54.49% | SUE: N/A | # QB: 0
Revenue Correlation: 98.50 | Revenue CAGR: 11.34% | SUE: -0.15 | # QB: 0
EPS current Quarter (2026-03-31): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS next Quarter (2026-06-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS current Year (2025-12-31): EPS=2.39 | Chg30d=-0.28% | Revisions=+0% | GrowthEPS=+20.3% | GrowthRev=+8.0%
EPS next Year (2026-12-31): EPS=2.60 | Chg30d=-1.31% | Revisions=+25% | GrowthEPS=+0.1% | GrowthRev=+5.2%
[Analyst] Revisions Ratio: +25% (up=1, down=0)