EssilorLuxottica S. A. (EL) Fair Value & Analysis
Healthcare · FR · Market cap €78.8B · ISIN FR0000121667
What is EssilorLuxottica S. A. really worth?
A solid business, but trading 58% above our fair value of €94.93.
As of Sep 1, 2026, the fair value of EssilorLuxottica S. A. is €94.93 per share against a price of €149.80, so the fair value sits 37% below the price. A model estimate blended from multiple valuation models, recalculated regularly.
Strengths
Risks
For context
Fair value as of: Sep 1, 2026
From 26 valuation models · updated 5 days ago
Share price −12.6% 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 sits above even our optimistic bull case (€126.01). The favourable scenario is already priced in.
- Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (€67.19 to €126.01) leaves room in how you read the outcome.
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 €124.24 – €313.30 · fair‑value band €67.19 – €126.01 · the €149.80 price screens above the €94.93 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
EssilorLuxottica S. A. (EL) currently trades at €149.80, while our model-based Fair Value estimate is €94.93, implying the stock looks roughly 57.8% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of €142.69 per share, and 7 of the 26 models we run sit above the €149.80 price. Bear case: the Dividend Discount group reads lowest at €19.16, and 19 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, EssilorLuxottica S. A. generated revenue of €28.5B at a net margin of 8.1%. Revenue grew 9.4% year over year. It earns a return on equity of 6.1%. Net debt stands at €13.5B. Fundamentals as of Sep 1, 2026
Our scenario range runs from €67.19 (bear case) to €126.01 (bull case); at €149.80, the current price sits above 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 53% 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%, EL 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 €0.6754 per share, which is 0.7 % 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 (€142.69) versus Dividend Discount (€19.16). Highest evidence: FCF DCF (77).
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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) 29
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
EssilorLuxottica Société anonyme designs, manufactures, and distributes ophthalmic lenses, frames, sunglasses, and instruments and equipment in North America, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific.
Full company description
EssilorLuxottica Société anonyme designs, manufactures, and distributes ophthalmic lenses, frames, sunglasses, and instruments and equipment in North America, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific. It offers lens, eyewear, contact lenses, reading glasses under Essilor, Varilux, Crizal, Eyezen, Stellest, Xperio, Transitions, Ray-Ban, Oakley, Barberini, KODAK Lens, Nikon, Shamir Optical, eyexpert, iWear, Humanware, Optifog, Persol, Oliver Peoples, Vogue Eyewear, Arnette, Alain Mikli, Costa, Bliz, Native Eyewear and Bolon, and Foster Grant brands. The company also provides vision assessment, eye pathology diagnosis and treatment, finishing equipment, fitting parameter measurement, small tools, and consumables. In addition, it offers SPECTRALIS, a multimodal imaging platform for diagnosis and treatment; RetinAI; Espansione Group; Cellview Imaging; ANTERION, a multidisciplinary all-in-one anterior segment imaging solution for measurements; apparel, footwear and accessories; and high-tech equipment for optical surfacing, polishing, measuring, coating, and finishing, as well as consumables, tools, and services under the Satisloh brand. Further, the company designs, develops, markets, and maintains diagnostics, refraction, lens edging and mounting instruments for opticians and prescription laboratories, and measurement; and optometry instruments for eyecare professionals, schools, occupational medicine centers, military, and other institutions. It sells its products to independent opticians, distributors, third-party e-commerce platforms, and large retail chains in the eyecare and eyewear industry; and consumers through the network of brick and mortar retail networks and its online channels. The company was formerly known as Essilor International Société Anonyme and changed its name to EssilorLuxottica Société anonyme in October 2018. EssilorLuxottica Société anonyme was founded in 1849 and is headquartered in Paris, France.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
EssilorLuxottica S. A. reported revenue of €28.5B in FY2025 versus €19.8B in FY2021, a compound +9.5%/yr. Reported net income was €2.3B in FY2025, compounding +12.4%/yr from FY2021.
of which total revenue +17.0 % · buybacks/dilution −8.0 %
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).
EL screens 58% overvalued. Compare with Intuitive Surgical, Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- EssilorLuxottica: Disclosure of Share Capital and Voting Rights Outstanding as of July 31, 2026
- EssilorLuxottica: Disclosure of transactions in own shares
- EssilorLuxottica's Five Million-Share Buyback Has a Dilution Catch
- EssilorLuxottica (ENXTPA:EL) Stock Could Be Trading At A Discount Following Its 39% Slump
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
What the price implies (reverse DCF)
The inverse question: what free-cash-flow growth must EssilorLuxottica S. A. deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.
The price demands less growth than the company recently delivered: even a weaker business would justify the price. Ranking of the largest stocks →
Context: sector, industry, market
- Is the Health Care sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: French Stocks
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.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
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 | $366.70 | $150.04 | −59% |
| Medline Inc MDLN | $36.59 | $30.15 | −18% |
| Becton, Dickinson and Company BDX | $187.12 | $100.46 | −46% |
| Alcon Inc ALC | $70.50 | $39.78 | −44% |
| 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 | €237.20 | €63.30 | −73% |
| Coloplast A/S COLOB | kr 435.80 | kr 382.22 | −12% |
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