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German leading optical retail chain selling eyeglasses, contact lenses and hearing aids across Europe.
German leading optical retail chain selling eyeglasses, contact lenses and hearing aids across Europe.
Sells glasses and lenses directly from its own stores, partly from its own factory and direct sourcing, which lets it price low and win volume in prescription eyewear. Hearing aids are fitted and sold in the same shops. The founding Fielmann family keeps the majority.
In one line: A German Warby Parker/LensCrafters hybrid, but much larger scale in Europe.
Moat: narrow (scale, brand, distribution). Largest European optical retail network with low-cost, vertically integrated model, but a competitive, mature retail category.
Headquarters: Hamburg, Germany · Founded: 1972 · Employees: 23,832
Size Fielmann (FIE.DE) is a Germany Health Care company (Medical Specialties) with a market value of $4.12B, the 81st largest of 205 Germany companies the cockpit tracks. Shares closed at €43.70 on 6 Nov 2026.
Performance Over six months the shares gained 2.8%, against +16.9% for the median peer and +2.6% for the Germany market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 2.9% over the last twelve months (peer median +4.3%); the operating margin is 14.0% (peer median 11.3%).
Valuation It trades at 17.8× forward earnings against a peer median of 20.4× (5th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -17 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.5 points above its cost of capital (5.4% WACC).
Next results Next results expected around 12 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €2.47B | €2.44B | €2.27B | €1.97B | €1.76B |
| Revenue growth | — | +7% | +15% | +12% | — |
| Gross profit | €702M | €656M | €563M | €478M | €504M |
| EBITDA | €576M | €553M | €468M | €384M | €413M |
| Net income | €212M | €204M | €152M | €125M | €104M |
| Free cash flow | €304M | €352M | €304M | €185M | €155M |
| Capital expenditure | €120M | €116M | €82.7M | €86.8M | €85.4M |
| Total debt | n/a | €884M | €882M | €652M | €566M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Fielmann FIE.DE | $4.12B | +3% | +3% | 14% | 17.8× | -5.3% |
| EssilorLuxottica EL.PA | $101B | +12% | +8% | 12% | 26.6× | 19.4% |
| Warby Parker WRBY | $3.15B | -14% | +11% | 0% | 57.8× | n/a |
| Amplifon AMP.MI | $3.72B | +13% | 0% | 9% | 18.1× | 9.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | FIE.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +17.6% | +8.1% | 4th highest of 21 |
| 6-month return | +2.8% | +16.9% | 9th lowest of 21 |
| Distance from 52-week high | -8.9% | -22.1% | 3rd highest of 21 |
| Revenue growth (TTM) | +2.9% | +4.3% | 9th lowest of 20 |
| Operating margin | 14.0% | 11.3% | 6th highest of 20 |
| Forward P/E | 17.8× | 20.4× | 5th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -5.3% | 11.6% | 2nd least demanding of 17 |
| Growth delivered (Del g) | +11.3% | +7.7% | 4th highest of 17 |
| Hurdle (Req g minus delivered) | -16.6 pp | +2.3 pp | least demanding of 17 |
| ROIC minus cost of capital | +8.5 pp | -1.4 pp | highest of 19 |
| EV / EBITDA | 7.5× | 13.3× | cheapest of 12 |
| Net debt / EBITDA | 1.1× | 0.5× | 7th least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Fielmann FIE.DE | Germany | $4.12B | +3% | +3% | 14% | 17.8× | -5.3% | +11.3% |
| CareDx CDNA | United States | $4.13B | +260% | +39% | 1% | 53.2× | n/a | n/a |
| Tecan TECN.SW | Switzerland | $4.05B | +91% | -4% | 1% | 40.1× | 46.9% | +3.8% |
| Envista NVST | United States | $4.04B | +4% | +12% | 11% | 15.6× | 6.8% | +7.1% |
| Jiangsu Yuyue Medical Equipment & Supply 002223.SZ | China | $4.26B | -1% | -1% | 13% | 20.4× | 5.1% | +3.4% |
| Integer ITGR | United States | $4.30B | +44% | 0% | 9% | 18.8× | 19.6% | +11.5% |
| ICU Medical ICUI | United States | $4.30B | +36% | -9% | 7% | 19.5× | 22.1% | +11.9% |
| Pulse Biosciences PLSE | United States | $3.87B | +179% | n/a | -7,008% | n/a | n/a | n/a |
| Intco Medical Technology 300677.SZ | China | $4.40B | -20% | +33% | 20% | 14.7× | -4.7% | -6.4% |
| Stevanato STVN | United States | $3.70B | -26% | +12% | 18% | 19.3× | 10.6% | +12.1% |
| Sotera Health SHC | United States | $4.57B | +1% | +7% | 37% | 15.4× | 13.7% | +7.3% |
| SCHOTT Pharma AG & Co. KGaA 1SXP.DE | Germany | $3.67B | +31% | +4% | 15% | 22.1× | 11.7% | +11.0% |
| Shandong Weigao Blood Purification Products 603014.SS | China | $3.63B | -3% | +4% | n/a | 20.4× | -1.2% | +8.1% |
| MiniMed MMED | United States | $4.70B | +44% | +14% | 14% | 25.5× | n/a | n/a |
| Andon Health 002432.SZ | China | $3.60B | -29% | -30% | -26% | 15.0× | -7.7% | -7.4% |
| iRay Technology 688301.SS | China | $3.54B | -8% | +58% | 24% | 27.5× | n/a | n/a |
| Carl Zeiss Meditec AFX.DE | Germany | $3.51B | +40% | 0% | 8% | 26.8× | 13.7% | +10.8% |
| Ambu A/S AMBU-B.CO | Denmark | $3.42B | +40% | +5% | 11% | 28.1× | 12.6% | +11.1% |
| Lepu Medical Technology (Beijing) 300003.SZ | China | $3.42B | -12% | -1% | 13% | 26.3× | 9.6% | -4.2% |
| MGI Tech 688114.SS | China | $3.42B | +9% | +2% | -7% | n/a | 46.5% | -0.1% |
| LivaNova LIVN | United States | $4.96B | +25% | +12% | 13% | 19.9× | 11.5% | +8.2% |