SIEMENS HEALTHINEERS AG (SHL.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:SHL • DE000SHL1006

40.8 EUR
-0.6 (-1.45%)
Last: Feb 9, 2026, 05:35 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to SHL. SHL was compared to 63 industry peers in the Health Care Equipment & Supplies industry. While SHL is still in line with the averages on profitability rating, there are concerns on its financial health. SHL is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • In the past year SHL was profitable.
  • In the past year SHL had a positive cash flow from operations.
  • In the past 5 years SHL has always been profitable.
  • SHL had a positive operating cash flow in each of the past 5 years.
SHL.DE Yearly Net Income VS EBIT VS OCF VS FCFSHL.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B

1.2 Ratios

  • SHL has a better Return On Assets (4.83%) than 66.67% of its industry peers.
  • SHL's Return On Equity of 11.88% is fine compared to the rest of the industry. SHL outperforms 68.25% of its industry peers.
  • SHL has a Return On Invested Capital (7.66%) which is comparable to the rest of the industry.
  • The Average Return On Invested Capital over the past 3 years for SHL is below the industry average of 9.98%.
  • The last Return On Invested Capital (7.66%) for SHL is above the 3 year average (6.28%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 4.83%
ROE 11.88%
ROIC 7.66%
ROA(3y)4.09%
ROA(5y)4.11%
ROE(3y)10.3%
ROE(5y)10.39%
ROIC(3y)6.28%
ROIC(5y)6.22%
SHL.DE Yearly ROA, ROE, ROICSHL.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40 50

1.3 Margins

  • The Profit Margin of SHL (9.17%) is better than 68.25% of its industry peers.
  • SHL's Profit Margin has been stable in the last couple of years.
  • The Operating Margin of SHL (13.53%) is better than 61.90% of its industry peers.
  • SHL's Operating Margin has been stable in the last couple of years.
  • SHL has a Gross Margin of 38.63%. This is amonst the worse of the industry: SHL underperforms 80.95% of its industry peers.
  • SHL's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 13.53%
PM (TTM) 9.17%
GM 38.63%
OM growth 3Y0.16%
OM growth 5Y0.1%
PM growth 3Y-0.76%
PM growth 5Y-1.23%
GM growth 3Y1.02%
GM growth 5Y0.02%
SHL.DE Yearly Profit, Operating, Gross MarginsSHL.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • SHL has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • SHL has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for SHL has been increased compared to 5 years ago.
  • The debt/assets ratio for SHL has been reduced compared to a year ago.
SHL.DE Yearly Shares OutstandingSHL.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B
SHL.DE Yearly Total Debt VS Total AssetsSHL.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B

2.2 Solvency

  • SHL has an Altman-Z score of 1.97. This is not the best score and indicates that SHL is in the grey zone with still only limited risk for bankruptcy at the moment.
  • SHL's Altman-Z score of 1.97 is in line compared to the rest of the industry. SHL outperforms 41.27% of its industry peers.
  • The Debt to FCF ratio of SHL is 5.45, which is a neutral value as it means it would take SHL, 5.45 years of fcf income to pay off all of its debts.
  • SHL's Debt to FCF ratio of 5.45 is in line compared to the rest of the industry. SHL outperforms 53.97% of its industry peers.
  • A Debt/Equity ratio of 0.63 indicates that SHL is somewhat dependend on debt financing.
  • SHL has a worse Debt to Equity ratio (0.63) than 66.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.63
Debt/FCF 5.45
Altman-Z 1.97
ROIC/WACC1.19
WACC6.45%
SHL.DE Yearly LT Debt VS Equity VS FCFSHL.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

2.3 Liquidity

  • SHL has a Current Ratio of 1.11. This is a normal value and indicates that SHL is financially healthy and should not expect problems in meeting its short term obligations.
  • With a Current ratio value of 1.11, SHL is not doing good in the industry: 71.43% of the companies in the same industry are doing better.
  • A Quick Ratio of 0.79 indicates that SHL may have some problems paying its short term obligations.
  • SHL has a worse Quick ratio (0.79) than 71.43% of its industry peers.
Industry RankSector Rank
Current Ratio 1.11
Quick Ratio 0.79
SHL.DE Yearly Current Assets VS Current LiabilitesSHL.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. Growth

3.1 Past

  • SHL shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 7.17%.
  • Measured over the past years, SHL shows a quite strong growth in Earnings Per Share. The EPS has been growing by 11.29% on average per year.
  • The Revenue has been growing slightly by 4.53% in the past year.
  • The Revenue has been growing by 10.08% on average over the past years. This is quite good.
EPS 1Y (TTM)7.17%
EPS 3Y1.29%
EPS 5Y11.29%
EPS Q2Q%1.49%
Revenue 1Y (TTM)4.53%
Revenue growth 3Y2.49%
Revenue growth 5Y10.08%
Sales Q2Q%-0.11%

3.2 Future

  • Based on estimates for the next years, SHL will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.85% on average per year.
  • The Revenue is expected to grow by 5.74% on average over the next years.
EPS Next Y-0.73%
EPS Next 2Y5.79%
EPS Next 3Y8.53%
EPS Next 5Y9.85%
Revenue Next Year2.83%
Revenue Next 2Y4.53%
Revenue Next 3Y5.13%
Revenue Next 5Y5.74%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
SHL.DE Yearly Revenue VS EstimatesSHL.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10B 20B 30B
SHL.DE Yearly EPS VS EstimatesSHL.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3

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Find the best growth stocksShow best growing peers

5

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 17.07, SHL is valued on the expensive side.
  • Based on the Price/Earnings ratio, SHL is valued cheaply inside the industry as 87.30% of the companies are valued more expensively.
  • When comparing the Price/Earnings ratio of SHL to the average of the S&P500 Index (28.06), we can say SHL is valued slightly cheaper.
  • With a Price/Forward Earnings ratio of 17.20, SHL is valued on the expensive side.
  • Based on the Price/Forward Earnings ratio, SHL is valued a bit cheaper than 69.84% of the companies in the same industry.
  • SHL is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 27.86, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 17.07
Fwd PE 17.2
SHL.DE Price Earnings VS Forward Price EarningsSHL.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, SHL is valued a bit cheaper than the industry average as 66.67% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, SHL is valued cheaper than 85.71% of the companies in the same industry.
Industry RankSector Rank
P/FCF 16.96
EV/EBITDA 13.15
SHL.DE Per share dataSHL.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15 20

4.3 Compensation for Growth

  • SHL has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.51
EPS Next 2Y5.79%
EPS Next 3Y8.53%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • SHL has a Yearly Dividend Yield of 2.35%. Purely for dividend investing, there may be better candidates out there.
  • SHL's Dividend Yield is rather good when compared to the industry average which is at 0.97. SHL pays more dividend than 84.13% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.80, SHL pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.35%

5.2 History

  • The dividend of SHL has a limited annual growth rate of 4.38%.
Dividend Growth(5Y)4.38%
Div Incr Years0
Div Non Decr Years6
SHL.DE Yearly Dividends per shareSHL.DE Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8

5.3 Sustainability

  • SHL pays out 49.72% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • SHL's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP49.72%
EPS Next 2Y5.79%
EPS Next 3Y8.53%
SHL.DE Yearly Income VS Free CF VS DividendSHL.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B 2.5B
SHL.DE Dividend Payout.SHL.DE Dividend Payout, showing the Payout Ratio.SHL.DE Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

SIEMENS HEALTHINEERS AG

FRA:SHL (2/9/2026, 5:35:15 PM)

40.8

-0.6 (-1.45%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)02-05
Earnings (Next)05-07
Inst Owners12.21%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap46.02B
Revenue(TTM)23.38B
Net Income(TTM)2.14B
Analysts78.57
Price Target56.29 (37.97%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.35%
Yearly Dividend0.95
Dividend Growth(5Y)4.38%
DP49.72%
Div Incr Years0
Div Non Decr Years6
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)4.69%
Min EPS beat(2)-3.98%
Max EPS beat(2)13.36%
EPS beat(4)2
Avg EPS beat(4)3.9%
Min EPS beat(4)-3.98%
Max EPS beat(4)13.36%
EPS beat(8)5
Avg EPS beat(8)4.19%
EPS beat(12)7
Avg EPS beat(12)2.71%
EPS beat(16)10
Avg EPS beat(16)2.88%
Revenue beat(2)0
Avg Revenue beat(2)-2.43%
Min Revenue beat(2)-4.1%
Max Revenue beat(2)-0.77%
Revenue beat(4)2
Avg Revenue beat(4)-0.83%
Min Revenue beat(4)-4.1%
Max Revenue beat(4)1.29%
Revenue beat(8)2
Avg Revenue beat(8)-1.21%
Revenue beat(12)3
Avg Revenue beat(12)-0.98%
Revenue beat(16)7
Avg Revenue beat(16)-0.37%
PT rev (1m)-0.56%
PT rev (3m)-7.13%
EPS NQ rev (1m)-5.14%
EPS NQ rev (3m)-14.9%
EPS NY rev (1m)-0.41%
EPS NY rev (3m)-7.04%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.58%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.34%
Valuation
Industry RankSector Rank
PE 17.07
Fwd PE 17.2
P/S 1.97
P/FCF 16.96
P/OCF 13.03
P/B 2.55
P/tB N/A
EV/EBITDA 13.15
EPS(TTM)2.39
EY5.86%
EPS(NY)2.37
Fwd EY5.81%
FCF(TTM)2.41
FCFY5.9%
OCF(TTM)3.13
OCFY7.67%
SpS20.72
BVpS15.99
TBVpS-4.95
PEG (NY)N/A
PEG (5Y)1.51
Graham Number29.33
Profitability
Industry RankSector Rank
ROA 4.83%
ROE 11.88%
ROCE 9.97%
ROIC 7.66%
ROICexc 8.32%
ROICexgc 43.55%
OM 13.53%
PM (TTM) 9.17%
GM 38.63%
FCFM 11.61%
ROA(3y)4.09%
ROA(5y)4.11%
ROE(3y)10.3%
ROE(5y)10.39%
ROIC(3y)6.28%
ROIC(5y)6.22%
ROICexc(3y)6.75%
ROICexc(5y)6.62%
ROICexgc(3y)33.94%
ROICexgc(5y)34.43%
ROCE(3y)8.18%
ROCE(5y)8.09%
ROICexgc growth 3Y11.98%
ROICexgc growth 5Y11.06%
ROICexc growth 3Y9.08%
ROICexc growth 5Y-1.26%
OM growth 3Y0.16%
OM growth 5Y0.1%
PM growth 3Y-0.76%
PM growth 5Y-1.23%
GM growth 3Y1.02%
GM growth 5Y0.02%
F-Score8
Asset Turnover0.53
Health
Industry RankSector Rank
Debt/Equity 0.63
Debt/FCF 5.45
Debt/EBITDA 2.54
Cap/Depr 63.12%
Cap/Sales 3.5%
Interest Coverage 7.04
Cash Conversion 79.21%
Profit Quality 126.59%
Current Ratio 1.11
Quick Ratio 0.79
Altman-Z 1.97
F-Score8
WACC6.45%
ROIC/WACC1.19
Cap/Depr(3y)57.95%
Cap/Depr(5y)60.43%
Cap/Sales(3y)3.49%
Cap/Sales(5y)3.63%
Profit Quality(3y)107.05%
Profit Quality(5y)106.62%
High Growth Momentum
Growth
EPS 1Y (TTM)7.17%
EPS 3Y1.29%
EPS 5Y11.29%
EPS Q2Q%1.49%
EPS Next Y-0.73%
EPS Next 2Y5.79%
EPS Next 3Y8.53%
EPS Next 5Y9.85%
Revenue 1Y (TTM)4.53%
Revenue growth 3Y2.49%
Revenue growth 5Y10.08%
Sales Q2Q%-0.11%
Revenue Next Year2.83%
Revenue Next 2Y4.53%
Revenue Next 3Y5.13%
Revenue Next 5Y5.74%
EBIT growth 1Y12.56%
EBIT growth 3Y2.65%
EBIT growth 5Y10.19%
EBIT Next Year34.58%
EBIT Next 3Y17.72%
EBIT Next 5Y14.4%
FCF growth 1Y27.42%
FCF growth 3Y18%
FCF growth 5Y14.63%
OCF growth 1Y24.98%
OCF growth 3Y12.15%
OCF growth 5Y12.87%

SIEMENS HEALTHINEERS AG / SHL.DE FAQ

What is the fundamental rating for SHL stock?

ChartMill assigns a fundamental rating of 5 / 10 to SHL.DE.


Can you provide the valuation status for SIEMENS HEALTHINEERS AG?

ChartMill assigns a valuation rating of 5 / 10 to SIEMENS HEALTHINEERS AG (SHL.DE). This can be considered as Fairly Valued.


Can you provide the profitability details for SIEMENS HEALTHINEERS AG?

SIEMENS HEALTHINEERS AG (SHL.DE) has a profitability rating of 6 / 10.


Can you provide the PE and PB ratios for SHL stock?

The Price/Earnings (PE) ratio for SIEMENS HEALTHINEERS AG (SHL.DE) is 17.07 and the Price/Book (PB) ratio is 2.55.


How financially healthy is SIEMENS HEALTHINEERS AG?

The financial health rating of SIEMENS HEALTHINEERS AG (SHL.DE) is 3 / 10.