(FIE) Fielmann Aktiengesellschaft - Overview
Sector: Healthcare | Industry: Medical Instruments & Supplies | Exchange: XETRA (Germany) | Market Cap: 3.686m EUR | Total Return: -20% in 12m
Avg Turnover: 2.32M
EPS Trend: 94.8%
Rev. Trend: 99.2%
Qual. Beats: 0
Warnings
Beneish M-Score -1.05 > -1.5 - likely earnings manipulation
Tailwinds
No distinct edge detected
Fielmann Group AG is a Germany-based omnichannel provider specializing in vision care and audiology. The company operates an integrated business model that encompasses the design, manufacturing, and retail distribution of corrective eyewear, contact lenses, and hearing aid systems across Europe and North America.
Operating within the Health Care Equipment sector, Fielmann utilizes a multi-brand strategy, including its eponymous retail chain and acquired entities like Shopko Optical and SVS Vision. This vertical integration allows the company to control the supply chain from production to the final consumer interface, a common structural advantage in the high-volume optical retail industry.
The firm maintains a diverse distribution network consisting of physical retail stores and digital e-commerce platforms to capture market share in both traditional and online segments. You can explore further valuation metrics and performance data for this company on ValueRay.
- Aggressive North American expansion through Shopko and SVS Vision acquisitions
- German market dominance faces margin pressure from rising labor costs
- Omni-channel sales growth balances retail footprint with e-commerce integration
- Expansion of audiology services diversifies revenue beyond traditional eyewear
- Vertical integration of lens manufacturing mitigates global supply chain volatility
| Net Income: 203.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA -0.61 > 1.0 |
| NWC/Revenue: 4.48% < 20% (prev -13.30%; Δ 17.78% < -1%) |
| CFO/TA 0.17 > 3% & CFO 464.7m > Net Income 203.7m |
| Net Debt (1.21b) to EBITDA (553.4m): 2.18 < 3 |
| Current Ratio: 1.19 > 1.5 & < 3 |
| Outstanding Shares: last quarter (84.0m) vs 12m ago -0.04% < -2% |
| Gross Margin: 26.94% > 18% (prev 0.80%; Δ 2.61k% > 0.5%) |
| Asset Turnover: 96.76% > 50% (prev 95.57%; Δ 1.18% > 0%) |
| Interest Coverage Ratio: 7.41 > 6 (EBITDA TTM 553.4m / Interest Expense TTM 43.7m) |
| 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 323.5m / Avg Total Assets 2.52b) |
| D: 0.53 (Book Value of Equity 891.1m / Total Liabilities 1.67b) |
| Altman-Z'' = 2.68 = A |
| DSRI: 1.28 (Receivables 192.6m/140.2m, Revenue 2.44b/2.26b) |
| GMI: 2.97 (GM 26.94% / 80.02%) |
| AQI: 1.02 (AQ_t 0.35 / AQ_t-1 0.35) |
| SGI: 1.08 (Revenue 2.44b / 2.26b) |
| TATA: -0.10 (NI 203.7m - CFO 464.7m) / TA 2.66b) |
| Beneish M = -1.05 (Cap -4..+1) = D |
As of May 27, 2026, the stock is trading at EUR 43.90 with a total of 25,270 shares traded.
Over the past week, the price has changed by +0.46%,
over one month by -1.46%,
over three months by -4.98% and
over the past year by -20.04%.
Fielmann Aktiengesellschaft has no consensus analysts rating.
P/E Trailing = 20.2304
P/E Forward = 19.7628
P/S = 1.5084
P/B = 3.8581
P/EG = 3.2037
Revenue TTM = 2.44b EUR
EBIT TTM = 323.5m EUR
EBITDA TTM = 553.4m EUR
Long Term Debt = unknown (none)
Short Term Debt = 98.2m EUR (from shortTermDebt, last fiscal year)
Debt = 1.43b EUR (from shortLongTermDebtTotal, last fiscal year) + Leases 548.7m
Net Debt = 1.21b EUR (calculated: Debt 1.43b - CCE 226.9m)
Enterprise Value = 4.89b EUR (3.69b + Debt 1.43b - CCE 226.9m)
Interest Coverage Ratio = 7.41 (Ebit TTM 323.5m / Interest Expense TTM 43.7m)
EV/FCF = 13.90x (Enterprise Value 4.89b / FCF TTM 352.0m)
FCF Yield = 7.20% (FCF TTM 352.0m / Enterprise Value 4.89b)
FCF Margin = 14.45% (FCF TTM 352.0m / Revenue TTM 2.44b)
Net Margin = 8.37% (Net Income TTM 203.7m / Revenue TTM 2.44b)
Gross Margin = 26.94% ((Revenue TTM 2.44b - Cost of Revenue TTM 1.78b) / Revenue TTM)
Gross Margin QoQ = -135.7% (prev 79.48%)
Tobins Q-Ratio = 1.84 (Enterprise Value 4.89b / Total Assets 2.66b)
Interest Expense / Debt = 3.05% (Interest Expense 43.7m / Debt 1.43b)
Taxrate = 24.41% (15.7m / 64.2m)
NOPAT = 244.6m (EBIT 323.5m * (1 - 24.41%))
Current Ratio = 1.19 (Total Current Assets 676.4m / Total Current Liabilities 567.4m)
Debt / Equity = 1.46 (Debt 1.43b / totalStockholderEquity, last fiscal year 981.8m)
Debt / EBITDA = 2.18 (Net Debt 1.21b / EBITDA 553.4m)
Debt / FCF = 3.43 (Net Debt 1.21b / FCF TTM 352.0m)
Total Stockholder Equity = 938.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 8.09% (Net Income 203.7m / Total Assets 2.66b)
RoE = 21.71% (Net Income TTM 203.7m / Total Stockholder Equity 938.3m)
RoCE = 15.43% (EBIT 323.5m / Capital Employed (Total Assets 2.66b - Current Liab 567.4m))
RoIC = 11.14% (NOPAT 244.6m / Invested Capital 2.20b)
WACC = 5.22% (E(3.69b)/V(5.12b) * Re(6.36%) + D(1.43b)/V(5.12b) * Rd(3.05%) * (1-Tc(0.24)))
Discount Rate = 6.36% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -11.11 | Cagr: 0.36%
[DCF] Terminal Value 76.38% ; FCFF base≈342.2m ; Y1≈365.0m ; Y5≈436.3m
[DCF] Fair Price = 65.46 (EV 6.70b - Net Debt 1.21b = Equity 5.50b / 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: 99.23 | Revenue CAGR: 12.09% | SUE: -0.13 | # QB: 0
EPS current Year (2026-12-31): EPS=2.58 | Chg30d=-3.72% | Revisions=-20% | GrowthEPS=-0.9% | GrowthRev=+5.4%
EPS next Year (2027-12-31): EPS=2.91 | Chg30d=-2.01% | Revisions=-20% | GrowthEPS=+13.0% | GrowthRev=+5.2%
[Analyst] Revisions Ratio: -20%