SIEMENS HEALTHINEERS AG (SHL.DE) Fundamental Analysis & Valuation

FRA:SHL • DE000SHL1006

Current stock price

35.94 EUR
-0.05 (-0.14%)
Last:

This SHL.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. SHL.DE Profitability Analysis

1.1 Basic Checks

  • In the past year SHL was profitable.
  • SHL had a positive operating cash flow in the past year.
  • Each year in the past 5 years SHL has been profitable.
  • Each year in the past 5 years SHL had a positive operating cash flow.
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 Return On Assets of 4.79%. This is in the better half of the industry: SHL outperforms 63.49% of its industry peers.
  • SHL's Return On Equity of 11.50% is fine compared to the rest of the industry. SHL outperforms 71.43% of its industry peers.
  • With a decent Return On Invested Capital value of 7.88%, SHL is doing good in the industry, outperforming 63.49% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for SHL is below the industry average of 10.21%.
  • The 3 year average ROIC (6.28%) for SHL is below the current ROIC(7.88%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.79%
ROE 11.5%
ROIC 7.88%
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

  • SHL's Profit Margin of 9.10% is fine compared to the rest of the industry. SHL outperforms 65.08% of its industry peers.
  • SHL's Profit Margin has been stable in the last couple of years.
  • SHL's Operating Margin of 13.49% is in line compared to the rest of the industry. SHL outperforms 58.73% of its industry peers.
  • SHL's Operating Margin has been stable in the last couple of years.
  • SHL has a Gross Margin of 38.44%. 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 13.49%
PM (TTM) 9.1%
GM 38.44%
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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3

2. SHL.DE Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so SHL is still creating some value.
  • The number of shares outstanding for SHL has been reduced compared to 1 year ago.
  • SHL has more shares outstanding than it did 5 years ago.
  • SHL has a better debt/assets ratio than last year.
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 1.83. 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.
  • Looking at the Altman-Z score, with a value of 1.83, SHL is doing worse than 65.08% of the companies in the same industry.
  • The Debt to FCF ratio of SHL is 6.56, which is on the high side as it means it would take SHL, 6.56 years of fcf income to pay off all of its debts.
  • SHL has a Debt to FCF ratio of 6.56. This is comparable to the rest of the industry: SHL outperforms 50.79% of its industry peers.
  • SHL has a Debt/Equity ratio of 0.53. This is a neutral value indicating SHL is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.53, SHL is doing worse than 60.32% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.53
Debt/FCF 6.56
Altman-Z 1.83
ROIC/WACC1.28
WACC6.17%
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

  • A Current Ratio of 1.04 indicates that SHL should not have too much problems paying its short term obligations.
  • With a Current ratio value of 1.04, SHL is not doing good in the industry: 74.60% of the companies in the same industry are doing better.
  • SHL has a Quick Ratio of 1.04. This is a bad value and indicates that SHL is not financially healthy enough and could expect problems in meeting its short term obligations.
  • SHL's Quick ratio of 0.72 is on the low side compared to the rest of the industry. SHL is outperformed by 71.43% of its industry peers.
Industry RankSector Rank
Current Ratio 1.04
Quick Ratio 0.72
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

4

3. SHL.DE Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 1.33% over the past year.
  • The Earnings Per Share has been growing by 11.29% on average over the past years. This is quite good.
  • The Revenue has been growing slightly by 2.76% 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)1.33%
EPS 3Y1.29%
EPS 5Y11.29%
EPS Q2Q%-21.57%
Revenue 1Y (TTM)2.76%
Revenue growth 3Y2.49%
Revenue growth 5Y10.08%
Sales Q2Q%-1.46%

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 8.69% on average per year.
  • Based on estimates for the next years, SHL will show a small growth in Revenue. The Revenue will grow by 5.34% on average per year.
EPS Next Y-3.37%
EPS Next 2Y4.49%
EPS Next 3Y7.62%
EPS Next 5Y8.69%
Revenue Next Year1.77%
Revenue Next 2Y3.91%
Revenue Next 3Y4.63%
Revenue Next 5Y5.34%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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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6

4. SHL.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 15.76 indicates a correct valuation of SHL.
  • SHL's Price/Earnings ratio is rather cheap when compared to the industry. SHL is cheaper than 88.89% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 26.21. SHL is valued slightly cheaper when compared to this.
  • Based on the Price/Forward Earnings ratio of 13.77, the valuation of SHL can be described as correct.
  • Based on the Price/Forward Earnings ratio, SHL is valued a bit cheaper than 79.37% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 23.10. SHL is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 15.76
Fwd PE 13.77
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

  • 69.84% of the companies in the same industry are more expensive than SHL, based on the Enterprise Value to EBITDA ratio.
  • SHL's Price/Free Cash Flow ratio is rather cheap when compared to the industry. SHL is cheaper than 80.95% of the companies in the same industry.
Industry RankSector Rank
P/FCF 18.14
EV/EBITDA 11.78
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

  • The decent profitability rating of SHL may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.4
EPS Next 2Y4.49%
EPS Next 3Y7.62%

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6

5. SHL.DE Dividend Analysis

5.1 Amount

  • SHL has a Yearly Dividend Yield of 2.80%. Purely for dividend investing, there may be better candidates out there.
  • The stock price of SHL dropped by -22.73% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
  • SHL's Dividend Yield is rather good when compared to the industry average which is at 1.20. SHL pays more dividend than 85.71% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.89, SHL pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.8%

5.2 History

  • The dividend of SHL has a limited annual growth rate of 4.38%.
Dividend Growth(5Y)4.38%
Div Incr Years1
Div Non Decr Years7
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 50.31% 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.
DP50.31%
EPS Next 2Y4.49%
EPS Next 3Y7.62%
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

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SHL.DE Fundamentals: All Metrics, Ratios and Statistics

SIEMENS HEALTHINEERS AG

FRA:SHL (4/7/2026, 5:36:15 PM)

35.94

-0.05 (-0.14%)

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 Owners13.5%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap40.54B
Revenue(TTM)23.30B
Net Income(TTM)2.12B
Analysts79.29
Price Target54.94 (52.87%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.8%
Yearly Dividend0.95
Dividend Growth(5Y)4.38%
DP50.31%
Div Incr Years1
Div Non Decr Years7
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-8.86%
Min EPS beat(2)-13.74%
Max EPS beat(2)-3.98%
EPS beat(4)1
Avg EPS beat(4)-1.6%
Min EPS beat(4)-13.74%
Max EPS beat(4)13.36%
EPS beat(8)4
Avg EPS beat(8)1.31%
EPS beat(12)6
Avg EPS beat(12)0.88%
EPS beat(16)9
Avg EPS beat(16)1.56%
Revenue beat(2)1
Avg Revenue beat(2)-1.97%
Min Revenue beat(2)-4.1%
Max Revenue beat(2)0.15%
Revenue beat(4)2
Avg Revenue beat(4)-1.11%
Min Revenue beat(4)-4.1%
Max Revenue beat(4)0.27%
Revenue beat(8)3
Avg Revenue beat(8)-1.06%
Revenue beat(12)4
Avg Revenue beat(12)-0.67%
Revenue beat(16)7
Avg Revenue beat(16)-0.39%
PT rev (1m)-0.18%
PT rev (3m)-2.95%
EPS NQ rev (1m)-0.03%
EPS NQ rev (3m)-12.1%
EPS NY rev (1m)0%
EPS NY rev (3m)-3.06%
Revenue NQ rev (1m)-0.03%
Revenue NQ rev (3m)-2.36%
Revenue NY rev (1m)-0.32%
Revenue NY rev (3m)-1.04%
Valuation
Industry RankSector Rank
PE 15.76
Fwd PE 13.77
P/S 1.74
P/FCF 18.14
P/OCF 13.32
P/B 2.2
P/tB N/A
EV/EBITDA 11.78
EPS(TTM)2.28
EY6.34%
EPS(NY)2.61
Fwd EY7.26%
FCF(TTM)1.98
FCFY5.51%
OCF(TTM)2.7
OCFY7.51%
SpS20.65
BVpS16.34
TBVpS-4.52
PEG (NY)N/A
PEG (5Y)1.4
Graham Number28.95
Profitability
Industry RankSector Rank
ROA 4.79%
ROE 11.5%
ROCE 10.26%
ROIC 7.88%
ROICexc 8.62%
ROICexgc 53.82%
OM 13.49%
PM (TTM) 9.1%
GM 38.44%
FCFM 9.59%
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-Score7
Asset Turnover0.53
Health
Industry RankSector Rank
Debt/Equity 0.53
Debt/FCF 6.56
Debt/EBITDA 2.22
Cap/Depr 62.76%
Cap/Sales 3.47%
Interest Coverage 7.31
Cash Conversion 68.7%
Profit Quality 105.47%
Current Ratio 1.04
Quick Ratio 0.72
Altman-Z 1.83
F-Score7
WACC6.17%
ROIC/WACC1.28
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)1.33%
EPS 3Y1.29%
EPS 5Y11.29%
EPS Q2Q%-21.57%
EPS Next Y-3.37%
EPS Next 2Y4.49%
EPS Next 3Y7.62%
EPS Next 5Y8.69%
Revenue 1Y (TTM)2.76%
Revenue growth 3Y2.49%
Revenue growth 5Y10.08%
Sales Q2Q%-1.46%
Revenue Next Year1.77%
Revenue Next 2Y3.91%
Revenue Next 3Y4.63%
Revenue Next 5Y5.34%
EBIT growth 1Y7.86%
EBIT growth 3Y2.65%
EBIT growth 5Y10.19%
EBIT Next Year31.6%
EBIT Next 3Y17.12%
EBIT Next 5Y13.29%
FCF growth 1Y40.04%
FCF growth 3Y18%
FCF growth 5Y14.63%
OCF growth 1Y28.66%
OCF growth 3Y12.15%
OCF growth 5Y12.87%

SIEMENS HEALTHINEERS AG / SHL.DE Fundamental Analysis 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 6 / 10 to SIEMENS HEALTHINEERS AG (SHL.DE). This can be considered as Fairly Valued.


What is the profitability of SHL stock?

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


What is the earnings growth outlook for SIEMENS HEALTHINEERS AG?

The Earnings per Share (EPS) of SIEMENS HEALTHINEERS AG (SHL.DE) is expected to decline by -3.37% in the next year.


Is the dividend of SIEMENS HEALTHINEERS AG sustainable?

The dividend rating of SIEMENS HEALTHINEERS AG (SHL.DE) is 6 / 10 and the dividend payout ratio is 50.31%.