SIEMENS HEALTHINEERS AG (SHL.DE) Fundamental Analysis & Valuation
FRA:SHL • DE000SHL1006
40 EUR
-0.41 (-1.01%)
Last: Mar 9, 2026, 07:00 PM
This SHL.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
Taking everything into account, SHL scores 5 out of 10 in our fundamental rating. SHL was compared to 65 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.
1. SHL.DE Profitability Analysis
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.
1.2 Ratios
- SHL's Return On Assets of 4.79% is fine compared to the rest of the industry. SHL outperforms 63.08% of its industry peers.
- SHL's Return On Equity of 11.50% is fine compared to the rest of the industry. SHL outperforms 67.69% of its industry peers.
- SHL has a better Return On Invested Capital (7.88%) than 63.08% of its industry peers.
- Measured over the past 3 years, the Average Return On Invested Capital for SHL is below the industry average of 10.72%.
- The 3 year average ROIC (6.28%) for SHL is below the current ROIC(7.88%), indicating increased profibility in the last year.
| Industry Rank | Sector 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%
1.3 Margins
- Looking at the Profit Margin, with a value of 9.10%, SHL is in the better half of the industry, outperforming 63.08% of the companies in the same industry.
- SHL's Profit Margin has been stable in the last couple of years.
- SHL has a Operating Margin of 13.49%. This is comparable to the rest of the industry: SHL outperforms 58.46% of its industry peers.
- In the last couple of years the Operating Margin of SHL has remained more or less at the same level.
- SHL has a Gross Margin of 38.44%. This is amonst the worse of the industry: SHL underperforms 81.54% of its industry peers.
- In the last couple of years the Gross Margin of SHL has remained more or less at the same level.
| Industry Rank | Sector 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%
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.
- Compared to 1 year ago, SHL has less shares outstanding
- The number of shares outstanding for SHL has been increased compared to 5 years ago.
- Compared to 1 year ago, SHL has an improved debt to assets ratio.
2.2 Solvency
- SHL has an Altman-Z score of 1.95. 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 1.95 is on the low side compared to the rest of the industry. SHL is outperformed by 64.62% of its industry peers.
- SHL has a debt to FCF ratio of 6.56. This is a slightly negative value and a sign of low solvency as SHL would need 6.56 years to pay back of all of its debts.
- SHL's Debt to FCF ratio of 6.56 is in line compared to the rest of the industry. SHL outperforms 49.23% 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 in line with its industry, outperforming 41.54% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.53 | ||
| Debt/FCF | 6.56 | ||
| Altman-Z | 1.95 |
ROIC/WACC1.21
WACC6.51%
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: 75.38% 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.
- With a Quick ratio value of 0.72, SHL is not doing good in the industry: 72.31% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.04 | ||
| Quick Ratio | 0.72 |
3. SHL.DE Growth Analysis
3.1 Past
- The Earnings Per Share has been growing slightly by 1.33% over the past year.
- 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.
- Looking at the last year, SHL shows a small growth in Revenue. The Revenue has grown by 2.76% in the last year.
- SHL shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.08% yearly.
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
- The Earnings Per Share is expected to grow by 8.69% on average over the next years. This is quite good.
- The Revenue is expected to grow by 5.34% on average over the next years.
EPS Next Y-3.37%
EPS Next 2Y4.49%
EPS Next 3Y7.62%
EPS Next 5Y8.69%
Revenue Next Year2.1%
Revenue Next 2Y4.02%
Revenue Next 3Y4.62%
Revenue Next 5Y5.34%
3.3 Evolution
- The EPS growth rate is decreasing: in the next years the growth will be less 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.
4. SHL.DE Valuation Analysis
4.1 Price/Earnings Ratio
- SHL is valuated rather expensively with a Price/Earnings ratio of 17.54.
- SHL's Price/Earnings ratio is rather cheap when compared to the industry. SHL is cheaper than 84.62% of the companies in the same industry.
- Compared to an average S&P500 Price/Earnings ratio of 26.46, SHL is valued a bit cheaper.
- Based on the Price/Forward Earnings ratio of 15.33, the valuation of SHL can be described as correct.
- Based on the Price/Forward Earnings ratio, SHL is valued a bit cheaper than 73.85% of the companies in the same industry.
- When comparing the Price/Forward Earnings ratio of SHL to the average of the S&P500 Index (24.65), we can say SHL is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.54 | ||
| Fwd PE | 15.33 |
4.2 Price Multiples
- 67.69% of the companies in the same industry are more expensive than SHL, based on the Enterprise Value to EBITDA ratio.
- 76.92% of the companies in the same industry are more expensive than SHL, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 20.19 | ||
| EV/EBITDA | 12.9 |
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)1.55
EPS Next 2Y4.49%
EPS Next 3Y7.62%
5. SHL.DE Dividend Analysis
5.1 Amount
- With a Yearly Dividend Yield of 2.47%, SHL has a reasonable but not impressive dividend return.
- Compared to an average industry Dividend Yield of 1.01, SHL pays a better dividend. On top of this SHL pays more dividend than 84.62% of the companies listed in the same industry.
- Compared to an average S&P500 Dividend Yield of 1.82, SHL pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.47% |
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
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 Fundamentals: All Metrics, Ratios and Statistics
FRA:SHL (3/9/2026, 7:00:00 PM)
40
-0.41 (-1.01%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)02-05 2026-02-05/dmh
Earnings (Next)05-07 2026-05-07
Inst Owners13.5%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap45.12B
Revenue(TTM)23.30B
Net Income(TTM)2.12B
Analysts79.29
Price Target55.04 (37.6%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.47% |
Yearly Dividend0.95
Dividend Growth(5Y)4.38%
DP50.31%
Div Incr Years0
Div Non Decr Years6
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)-2.23%
PT rev (3m)-3.27%
EPS NQ rev (1m)-7.43%
EPS NQ rev (3m)-12.84%
EPS NY rev (1m)-2.65%
EPS NY rev (3m)-5.05%
Revenue NQ rev (1m)-1.25%
Revenue NQ rev (3m)-2.35%
Revenue NY rev (1m)-0.72%
Revenue NY rev (3m)-0.95%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.54 | ||
| Fwd PE | 15.33 | ||
| P/S | 1.94 | ||
| P/FCF | 20.19 | ||
| P/OCF | 14.82 | ||
| P/B | 2.45 | ||
| P/tB | N/A | ||
| EV/EBITDA | 12.9 |
EPS(TTM)2.28
EY5.7%
EPS(NY)2.61
Fwd EY6.52%
FCF(TTM)1.98
FCFY4.95%
OCF(TTM)2.7
OCFY6.75%
SpS20.65
BVpS16.34
TBVpS-4.52
PEG (NY)N/A
PEG (5Y)1.55
Graham Number28.95
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 1.95 |
F-Score7
WACC6.51%
ROIC/WACC1.21
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 Year2.1%
Revenue Next 2Y4.02%
Revenue Next 3Y4.62%
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 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 17.54 and the Price/Book (PB) ratio is 2.45.
How financially healthy is SIEMENS HEALTHINEERS AG?
The financial health rating of SIEMENS HEALTHINEERS AG (SHL.DE) is 3 / 10.