Siemens Healthineers AG

€44.66As of Sun 8 Nov 2026, 12:00 UTC

XETRA:SHLHealthcare

Country Germany

PE (Fwd) •••

TSR 9Y CAGR 5.24%

Div yield 2.24%

ROE 11.80%

Medical Devices

Beta (5Y) 0.89

PE TTM 22.67

TSR TTM (5.84%)

Mkt cap €49.71B

ROIC 7.76%

SE Grade™

Value

Quality

Moat

Consensus

Reference

€45

0.10%

(37.22%)

Hold 2|3|2|7|5

TTM

FYE 30 Sep EUR

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026

FY2027E

Trend

10Y

Peers

8.844

Revenue€B

9.644

10.18

10.76

11.09

11.26

11.51

12.11

12.50

13.13

13.44

9.346

3.60%

3.87%

3.24

Revenue growth%

19.81

20.14

17.58

18.44

16.45

16.25

18.70

19.03

20.28

18.25

14.79

18.70

18.57

4.97

Gross margin%

10.81

12.04

12.43

13.14

15.96

17.07

15.76

15.46

15.64

14.67

12.35

15.64

15.07

3.49

Operating margin%

15.08

16.33

15.02

14.91

14.14

16.64

17.87

16.46

17.64

14.89

3.75

16.64

15.70

19.68

Net margin%

8.96

10.48

8.78

7.46

5.82

8.21

5.81

4.48

1.89

4.64

16.39

4.64

6.64

22.38

P/E ratio (avg)x

22.54

23.01

23.93

24.32

23.28

24.73

24.75

21.18

18.89

17.52

30.46

21.18

23.15

15.34

EV/EBITx

18.60

20.66

21.60

22.68

25.14

29.52

34.41

34.68

37.99

36.52

11.19

34.68

27.33

21.99

FCF yield (avg)%

25.27

24.74

23.01

21.44

20.05

20.96

21.04

19.48

18.17

20.94

19.53

20.94

21.00

13.63

FCF margin%

19.84

18.83

16.83

19.72

20.51

18.04

20.64

20.69

18.72

21.66

19.10

20.64

19.78

0.647

FCF / Net incomex

2.199

2.324

2.515

2.382

2.259

1.940

2.020

2.186

2.370

2.084

1.297

2.084

2.229

22.27

ROIC%

17.19

19.42

16.66

13.92

14.54

14.30

12.77

13.00

13.02

10.92

24.57

13.00

14.11

23.87

Return on equity%

12.45

9.79

12.23

14.02

16.63

13.79

16.02

18.42

19.29

18.43

7.95

18.42

15.02

16.03

Return on assets%

6.66

6.86

8.16

11.12

8.97

7.02

8.57

6.90

5.49

7.81

22.89

7.02

7.42

7.25

EPS€

1.89

2.12

1.91

1.79

1.66

1.50

1.60

1.42

1.57

1.53

7.63

(1.59%)

(1.70%)

—

25.00

EPS growth%

22.92

20.71

20.63

23.15

25.26

27.34

24.87

22.47

21.48

20.85

7.21

22.47

22.70

2.05

Bookvalue per sh€

5.05

5.40

5.11

5.56

6.04

6.21

6.31

5.76

6.03

5.32

6.18

(2.51%)

1.06%

—

4.23

FCF per share€

3.26

3.36

3.50

3.78

3.92

4.10

4.29

4.79

4.60

5.16

5.25

5.67%

5.19%

—

6.58

Dividend per sh€

5.65

6.01

5.83

5.34

5.12

5.41

4.79

4.27

4.31

4.61

4.08

(2.07%)

(3.27%)

—

3.99

Div yield (avg)%

5.30

5.40

4.25

5.22

5.16

3.65

5.07

5.13

6.70

5.54

28.85

5.13

5.19

22.81

Payout ratio%

23.29

20.99

19.85

21.05

22.05

19.26

21.38

22.22

20.61

20.24

14.19

20.61

21.02

1.092

Shares (diluted)B

1.400

1.479

1.516

1.728

1.986

1.848

1.794

1.935

2.141

2.372

1.106

3.62%

5.11%

26.30

Buyback yield%

10.64

9.19

8.42

7.22

7.26

5.54

7.14

10.06

7.29

9.66

24.28

7.29

7.86

1.623

D/E ratiox

1.060

1.127

1.259

1.441

1.546

1.735

1.893

2.118

2.085

2.105

1.761

2.085

1.640

11.40

Enterprise value€B

10.69

10.86

10.67

11.04

10.86

12.65

14.81

14.77

16.61

19.28

3.023

12.16%

7.90%

4.177

LT debt€B

5.038

5.407

5.390

5.726

5.675

5.849

5.408

5.802

5.296

5.892

6.722

0.75%

2.03%

Peers (US$55.82B)

Cap (US$)

Sartorius Aktiengesell…

20.06B

81.76x

Fielmann Group AG

4.120B

17.23x

SCHOTT Pharma AG & Co.…

3.678B

24.17x

Edwards Lifesciences…

58.73B

57.98x

Capital

TTM

10Y

Leveragex

4.925

(0.081)

(0.075)

EBIT/Intx

3.090

0.197

0.199

Own earn%

(69.09)

(0.24)

3.75

Sh yield%

30.29

13.99

13.33

Owners

Insiders/Inst%

4.82

86.23

Short interest%

5.20

SBC / revenue%

5.84

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

Op margin range%

14–18

$1 testx

—

Incr. ROIC%

Siemens Healthineers AG, through its subsidiaries, develops, manufactures and sells diagnostic and therapeutic products and services to healthcare providers in Germany, the United States, Europe, the Americas, Asia Pacific and China. Its Imaging, Diagnostics, Varian and Advanced Therapies segments offer imaging systems, in-vitro diagnostics, cancer care technologies, image-guided therapy products and technical customer services.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

€13.44B

3.87%

1.00×

Cost of revenue

€9.168B

4.04%

1.02×

Operating expenses

€2.170B

3.73%

0.99×