SIEMENS HEALTHINEERS AG (SHL.DE) Fundamental Analysis & Valuation
FRA:SHL • DE000SHL1006
Current stock price
35.43 EUR
-0.54 (-1.5%)
Last:
This SHL.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
1. SHL.DE Profitability Analysis
1.1 Basic Checks
- SHL had positive earnings in the past year.
- 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.
1.2 Ratios
- SHL has a Return On Assets of 4.79%. This is in the better half of the industry: SHL outperforms 65.57% of its industry peers.
- The Return On Equity of SHL (11.50%) is better than 75.41% of its industry peers.
- SHL has a Return On Invested Capital of 7.88%. This is in the better half of the industry: SHL outperforms 65.57% of its industry peers.
- Measured over the past 3 years, the Average Return On Invested Capital for SHL is below the industry average of 10.31%.
- The last Return On Invested Capital (7.88%) for SHL is above the 3 year average (6.28%), which is a sign of increasing profitability.
| 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
- SHL's Profit Margin of 9.10% is fine compared to the rest of the industry. SHL outperforms 67.21% of its industry peers.
- In the last couple of years the Profit Margin of SHL has remained more or less at the same level.
- SHL has a Operating Margin of 13.49%. This is in the better half of the industry: SHL outperforms 60.66% of its industry peers.
- SHL's Operating Margin has been stable in the last couple of years.
- With a Gross Margin value of 38.44%, SHL is not doing good in the industry: 80.33% of the companies in the same industry are doing better.
- SHL's Gross Margin has been stable in the last couple of years.
| 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
- SHL has more shares outstanding than it did 5 years ago.
- SHL has a better debt/assets ratio than last year.
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.
- The Altman-Z score of SHL (1.83) is worse than 65.57% 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 has a Debt to FCF ratio (6.56) which is in line with its industry peers.
- A Debt/Equity ratio of 0.53 indicates that SHL is somewhat dependend on debt financing.
- SHL has a Debt to Equity ratio of 0.53. This is in the lower half of the industry: SHL underperforms 62.30% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.53 | ||
| Debt/FCF | 6.56 | ||
| Altman-Z | 1.83 |
ROIC/WACC1.27
WACC6.21%
2.3 Liquidity
- SHL has a Current Ratio of 1.04. This is a normal value and indicates that SHL is financially healthy and should not expect problems in meeting its short term obligations.
- Looking at the Current ratio, with a value of 1.04, SHL is doing worse than 75.41% of the companies in the same industry.
- A Quick Ratio of 0.72 indicates that SHL may have some problems paying its short term obligations.
- Looking at the Quick ratio, with a value of 0.72, SHL is doing worse than 72.13% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.04 | ||
| Quick Ratio | 0.72 |
3. SHL.DE Growth Analysis
3.1 Past
- SHL shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 1.33%.
- SHL shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 11.29% yearly.
- 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.
- SHL is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.34% yearly.
EPS Next Y-2.64%
EPS Next 2Y5.26%
EPS Next 3Y7.63%
EPS Next 5Y8.69%
Revenue Next Year1.79%
Revenue Next 2Y3.93%
Revenue Next 3Y4.65%
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.
- 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.
4. SHL.DE Valuation Analysis
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 15.54 indicates a correct valuation of SHL.
- Compared to the rest of the industry, the Price/Earnings ratio of SHL indicates a rather cheap valuation: SHL is cheaper than 90.16% of the companies listed in the same industry.
- When comparing the Price/Earnings ratio of SHL to the average of the S&P500 Index (27.42), we can say SHL is valued slightly cheaper.
- The Price/Forward Earnings ratio is 13.38, which indicates a correct valuation of SHL.
- SHL's Price/Forward Earnings ratio is rather cheap when compared to the industry. SHL is cheaper than 80.33% of the companies in the same industry.
- The average S&P500 Price/Forward Earnings ratio is at 22.24. SHL is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.54 | ||
| Fwd PE | 13.38 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, SHL is valued a bit cheaper than 67.21% of the companies in the same industry.
- SHL's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. SHL is cheaper than 77.05% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 17.88 | ||
| EV/EBITDA | 11.77 |
4.3 Compensation for Growth
- The decent profitability rating of SHL may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.38
EPS Next 2Y5.26%
EPS Next 3Y7.63%
5. SHL.DE Dividend Analysis
5.1 Amount
- SHL has a Yearly Dividend Yield of 2.78%.
- SHL's Dividend Yield is a higher than the industry average which is at 1.23.
- Compared to an average S&P500 Dividend Yield of 1.81, SHL pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.78% |
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
5.3 Sustainability
- 50.31% of the earnings are spent on dividend by SHL. 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 2Y5.26%
EPS Next 3Y7.63%
SHL.DE Fundamentals: All Metrics, Ratios and Statistics
FRA:SHL (4/24/2026, 7:00:00 PM)
35.43
-0.54 (-1.5%)
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 Owners13.8%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap39.97B
Revenue(TTM)23.30B
Net Income(TTM)2.12B
Analysts79.29
Price Target54.21 (53.01%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.78% |
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)-1.5%
PT rev (3m)-4.23%
EPS NQ rev (1m)0.48%
EPS NQ rev (3m)-11.65%
EPS NY rev (1m)0.75%
EPS NY rev (3m)-2.33%
Revenue NQ rev (1m)-0.54%
Revenue NQ rev (3m)-2.86%
Revenue NY rev (1m)-0.3%
Revenue NY rev (3m)-1.01%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.54 | ||
| Fwd PE | 13.38 | ||
| P/S | 1.72 | ||
| P/FCF | 17.88 | ||
| P/OCF | 13.13 | ||
| P/B | 2.17 | ||
| P/tB | N/A | ||
| EV/EBITDA | 11.77 |
EPS(TTM)2.28
EY6.44%
EPS(NY)2.65
Fwd EY7.47%
FCF(TTM)1.98
FCFY5.59%
OCF(TTM)2.7
OCFY7.62%
SpS20.65
BVpS16.34
TBVpS-4.52
PEG (NY)N/A
PEG (5Y)1.38
Graham Number28.9504 (-18.29%)
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 | 1.83 |
F-Score7
WACC6.21%
ROIC/WACC1.27
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-2.64%
EPS Next 2Y5.26%
EPS Next 3Y7.63%
EPS Next 5Y8.69%
Revenue 1Y (TTM)2.76%
Revenue growth 3Y2.49%
Revenue growth 5Y10.08%
Sales Q2Q%-1.46%
Revenue Next Year1.79%
Revenue Next 2Y3.93%
Revenue Next 3Y4.65%
Revenue Next 5Y5.34%
EBIT growth 1Y7.86%
EBIT growth 3Y2.65%
EBIT growth 5Y10.19%
EBIT Next Year31.85%
EBIT Next 3Y17.07%
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 5 / 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 -2.64% 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%.