Fielmann Aktiengesellschaft (FIE) Fair Value & Analysis
Healthcare · DE · Market cap €3.3B · ISIN DE0005772206
What is Fielmann Aktiengesellschaft really worth?
A solid business, trading 27% below our fair value of €53.39.
Strengths
Risks
For context
Fair value as of: Sep 1, 2026
From 26 valuation models · updated 4 days ago
Share price −6.6% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price is below even our cautious bear case (€40.04). The market is more pessimistic than our downside scenario.
- Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.
How to read this chart
60‑month range €25.43 – €57.65 · fair‑value band €40.04 – €66.73 · the €38.85 price screens below the €53.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 1, 2026.
Analysis
Fielmann Aktiengesellschaft (FIE) currently trades at €38.85, while our model-based Fair Value estimate is €53.39, implying the stock looks roughly 27.2% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of €59.75 per share, and 18 of the 26 models we run sit above the €38.85 price. Bear case: the Asset-Based group reads lowest at €7.83, and 8 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Fielmann Aktiengesellschaft generated revenue of €2.4B at a net margin of 8.4%. Revenue grew 1.3% year over year. It earns a return on equity of 21.5%. Net debt stands at €662M. Fundamentals as of Sep 1, 2026
Our scenario range runs from €40.04 (bear case) to €66.73 (bull case); at €38.85, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 34% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −46% fair-value upside, at 37%, FIE screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €0.7038 per share, which is 1.3 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: DCF Models (€59.75) versus Asset-Based (€7.83). Highest evidence: FCF DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 39
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Fielmann Group AG engages in vision care and audiology business in Germany, Switzerland, Austria, Spain, North America, and internationally.
Full company description
Fielmann Group AG engages in vision care and audiology business in Germany, Switzerland, Austria, Spain, North America, and internationally. The company manufactures and sells visual aids mainly glasses, eyewear frames and lenses, sunglasses, contact lenses, ready-made reading glasses, hearing systems and its accessories, as well as personal protective equipment. It also offers its products under the fielmann, Optika Clarus, Optica & Audiologia Universitaria, Medical optica audicion, Shopko Optical, and SVS VISION brand names. The company sells its products through digital sales, retail stores, as well as Befitting, an optical e-commerce platform. The company was formerly known as Fielmann Aktiengesellschaft and changed its name to Fielmann Group AG in July 2023. Fielmann Group AG was founded in 1972 and is headquartered in Hamburg, Germany. Fielmann Group AG operates as a subsidiary of Korva SE.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Fielmann Aktiengesellschaft reported revenue of €2.4B in FY2025 versus €1.7B in FY2021, a compound +9.8%/yr. Reported net income was €204M in FY2025, compounding +10.5%/yr from FY2021.
of which total revenue +6.3 % · buybacks/dilution +0.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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Peer Group
Medical Instruments & Supplies · 194 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Medical Instruments & Supplies median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Medical Instruments & Supplies stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Intuitive Surgical, Inc ISRG | $367.07 | $150.04 | −59% |
| EssilorLuxottica Société anonyme EL | €160.35 | €94.93 | −41% |
| Medline Inc MDLN | $36.59 | $30.15 | −18% |
| Becton, Dickinson and Company BDX | $187.12 | $100.46 | −46% |
| Alcon Inc ALC | $72.23 | $39.78 | −45% |
| ResMed Inc RMD | A$33.19 | A$26.23 | −21% |
| West Pharmaceutical Services, Inc WST | $337.47 | $141.58 | −58% |
| Sartorius Stedim Biotech S.A DIM | €197.70 | €48.88 | −75% |
| Straumann Holding STMN | CHF 97.38 | CHF 47.31 | −51% |
| Sartorius Aktiengesellschaft SRT3 | €253.50 | €63.30 | −75% |
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Frequently asked questions
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