Fielmann AG (DE:FIE)
XETRA:FIE
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Fielmann
(XETRA:FIE)
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Rating:64Neutral
Price Target:
€45.00
▼(-5.56% Downside)
Action:Reiterated
Date:05/03/26
The score is driven primarily by solid financial performance (strong revenue momentum, profitability, and cash generation), tempered by leverage and margin/cash-conversion volatility. Technicals are a material drag due to a weak trend and negative momentum despite oversold signals, while valuation is neutral-to-supportive with a mid-range P/E and moderate dividend yield.
Positive Factors
Revenue Growth
A meaningful rebound in top-line to €2,435M in 2025 signals durable demand recovery and successful market penetration. Sustained revenue momentum supports scale advantages in procurement, distribution and omnichannel mix, underpinning multi-quarter earnings resilience and investment capacity.
Negative Factors
Higher Leverage
Leverage near 0.9 reduces balance-sheet flexibility compared with prior lower-debt periods. In a capital-intensive retail model, elevated leverage can constrain funding for new stores or M&A, increase interest exposure and limit resilience against prolonged sales shocks over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
A meaningful rebound in top-line to €2,435M in 2025 signals durable demand recovery and successful market penetration. Sustained revenue momentum supports scale advantages in procurement, distribution and omnichannel mix, underpinning multi-quarter earnings resilience and investment capacity.
Read all positive factors
Fielmann (FIE) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€3.65B
Dividend Yield2.69%
Average Volume (3M)63.96K
Price to Earnings (P/E)17.9
Beta (1Y)0.78
Revenue Growth7.56%
EPS Growth33.98%
CountryDE
Employees20,221
SectorGeneral
Sector StrengthN/A
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)1.56
Shares Outstanding84,000,000
10 Day Avg. Volume37,023
30 Day Avg. Volume63,960
Financial Highlights & Ratios
PEG Ratio0.52
Price to Book (P/B)3.72
Price to Sales (P/S)1.50
P/FCF Ratio10.39
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€58.75Price Target Upside23.29% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)2.64
Revenue Forecast (FY)€2.56B
Fielmann Business Overview & Revenue Model
Company Description
Through its subsidiaries, Fielmann Aktiengesellschaft focuses on investing in and managing businesses within the optics and hearing aid sectors. It produces and distributes an extensive array of visual aids, such as spectacles, frames, lenses, sun...
How the Company Makes Money
Fielmann primarily makes money by selling eyewear products and associated services through its omnichannel retail model (physical stores and e-commerce). Key revenue streams include: (1) Prescription eyeglasses: sales of frames and ophthalmic lens...
Fielmann Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
67
Positive
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.79B | 2.44B | 2.26B | 1.97B | 1.76B | 1.68B |
| Gross Profit | 1.44B | 656.10M | 1.81B | 1.57B | 1.38B | 1.34B |
| EBITDA | 341.88M | 553.35M | 475.73M | 399.17M | 346.99M | 389.78M |
| Net Income | 130.32M | 203.73M | 152.11M | 127.64M | 103.66M | 136.85M |
Balance Sheet | ||||||
| Total Assets | 2.39B | 2.66B | 2.37B | 1.99B | 1.77B | 1.74B |
| Cash, Cash Equivalents and Short-Term Investments | 287.03M | 226.87M | 101.68M | 81.83M | 149.87M | 235.54M |
| Total Debt | 548.74M | 884.03M | 873.85M | 592.15M | 505.66M | 458.26M |
| Total Liabilities | 1.42B | 1.67B | 1.46B | 1.06B | 909.10M | 863.09M |
| Stockholders Equity | 957.51M | 981.78M | 899.13M | 867.65M | 804.22M | 819.83M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 352.02M | 327.41M | 196.00M | 182.69M | 260.15M |
| Operating Cash Flow | 0.00 | 464.74M | 410.09M | 282.79M | 268.08M | 346.69M |
| Investing Cash Flow | 0.00 | -116.53M | -331.17M | -143.25M | -159.85M | -74.85M |
| Financing Cash Flow | 0.00 | -223.63M | -44.27M | -132.00M | -209.22M | -201.22M |
Fielmann Technical Analysis
Negative
47.65
Price Trends
43.90
Negative
43.62
Negative
45.02
Negative
Market Momentum
0.13
Negative
48.81
Neutral
49.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:FIE, the sentiment is Negative. The current price of 47.65 is above the 20-day moving average (MA) of 43.64, above the 50-day MA of 43.90, and above the 200-day MA of 45.02, indicating a bearish trend. The MACD of 0.13 indicates Negative momentum. The RSI at 48.81 is Neutral, neither overbought nor oversold. The STOCH value of 49.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:FIE.
Fielmann Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | €2.68B | 11.58 | 15.61% | 3.86% | -2.71% | 9.98% | |
66 Neutral | €2.23B | 15.51 | 6.69% | 1.50% | -0.06% | -38.81% | |
64 Neutral | €3.65B | 17.86 | 22.07% | 2.69% | 7.56% | 33.98% | |
62 Neutral | €2.69B | 31.70 | 8.03% | 1.97% | -5.40% | -8.25% | |
57 Neutral | €6.30B | 53.81 | 4.22% | ― | 20.20% | -56.58% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
DE:FIE
Fielmann
43.45
-7.73
-15.10%
DE:BIJ
Bijou Brigitte Modische Accessoires
53.80
14.38
36.49%
DE:AFX
Carl Zeiss Meditec
24.94
-28.85
-53.63%
DE:BOSS
Hugo Boss
38.80
1.48
3.97%
DE:JEN
Jenoptik
46.96
28.63
156.19%
DE:ZAL
Zalando
24.25
-2.00
-7.62%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.