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Fielmann
(XETRA:FIE)
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Rating:69Neutral
Price Target:
€46.00
▲(16.75% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by solid financial performance (strong 2025 revenue rebound, improving net margin, and healthy free cash flow), supported by reasonable valuation and a strong dividend yield. Technicals are more mixed, with only modest positive momentum and signs of near-term stretch, which tempers the overall rating.
Positive Factors
Strong Revenue Recovery
The sharp 2025 revenue rebound indicates renewed customer demand across eyewear and hearing care. Continued growth in these recurring, needs-based categories can support scale benefits and strengthen Fielmann’s market position over the next several quarters.
Negative Factors
Elevated Leverage
Higher leverage reduces financial flexibility if consumer demand or operating profitability weakens. Although equity increased and returns are strong, debt growth could constrain investment capacity or make future cash flows more sensitive to business volatility.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Recovery
The sharp 2025 revenue rebound indicates renewed customer demand across eyewear and hearing care. Continued growth in these recurring, needs-based categories can support scale benefits and strengthen Fielmann’s market position over the next several quarters.
Read all positive factors
Fielmann (FIE) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€3.25B
Dividend Yield3.54%
Average Volume (3M)63.96K
Price to Earnings (P/E)16.0
Beta (1Y)0.83
Revenue Growth2.89%
EPS Growth24.89%
CountryDE
Employees18,571
SectorGeneral
Sector StrengthN/A
IndustrySpecialty Retail
Share Statistics
EPS (TTM)2.47
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
€56.00Price Target Upside42.13% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)2.52
Revenue Forecast (FY)€2.54B
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 generates revenue through retail sales and professional services in two main categories: (1) eyewear and optical products and (2) hearing-care products and services. In eyewear, the company earns money from selling prescription ...
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 | 2.46B | 2.44B | 2.26B | 1.97B | 1.76B | 1.68B |
| Gross Profit | 668.72M | 656.10M | 1.81B | 1.57B | 1.38B | 1.34B |
| EBITDA | 532.00M | 553.35M | 475.73M | 399.17M | 346.99M | 389.78M |
| Net Income | 207.47M | 203.73M | 152.11M | 127.64M | 103.66M | 136.85M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 2.66B | 2.37B | 1.99B | 1.77B | 1.74B |
| Cash, Cash Equivalents and Short-Term Investments | 222.47M | 226.87M | 101.68M | 81.83M | 149.87M | 235.54M |
| Total Debt | 0.00 | 884.03M | 873.85M | 592.15M | 505.66M | 458.26M |
| Total Liabilities | -998.19M | 1.67B | 1.46B | 1.06B | 909.10M | 863.09M |
| Stockholders Equity | 998.19M | 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
39.40
Price Trends
40.91
Negative
41.69
Negative
41.66
Negative
Market Momentum
-0.44
Positive
43.45
Neutral
31.60
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 39.4 is below the 20-day moving average (MA) of 40.76, below the 50-day MA of 40.91, and below the 200-day MA of 41.66, indicating a bearish trend. The MACD of -0.44 indicates Positive momentum. The RSI at 43.45 is Neutral, neither overbought nor oversold. The STOCH value of 31.60 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | €2.80B | 19.27 | 5.52% | 1.98% | -0.06% | -38.81% | |
71 Outperform | €2.58B | 12.19 | 14.07% | 0.11% | -4.64% | -1.35% | |
69 Neutral | €3.25B | 16.01 | 21.23% | 3.55% | 2.89% | 24.89% | |
67 Neutral | €2.24B | 26.46 | 8.03% | 1.02% | -2.11% | 12.80% | |
59 Neutral | €5.70B | 64.86 | 3.47% | ― | 23.48% | -63.82% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
DE:FIE
Fielmann
39.55
-12.66
-24.25%
DE:BIJ
Bijou Brigitte Modische Accessoires
47.80
13.28
38.48%
DE:AFX
Carl Zeiss Meditec
32.18
-10.28
-24.22%
DE:BOSS
Hugo Boss
38.50
-3.89
-9.18%
DE:JEN
Jenoptik
40.22
23.08
134.64%
DE:ZAL
Zalando
24.00
-0.27
-1.11%
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.