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

FRA:SHL • DE000SHL1006

Current stock price

33.96 EUR
-1.3 (-3.69%)
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.
  • In the past year SHL had a positive cash flow from operations.
  • SHL had positive earnings in each of the past 5 years.
  • In the past 5 years SHL always reported a positive cash flow from operatings.
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

  • Looking at the Return On Assets, with a value of 4.79%, SHL is in the better half of the industry, outperforming 68.97% of the companies in the same industry.
  • With a decent Return On Equity value of 11.50%, SHL is doing good in the industry, outperforming 77.59% of the companies in the same industry.
  • SHL's Return On Invested Capital of 7.88% is fine compared to the rest of the industry. SHL outperforms 67.24% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for SHL is below the industry average of 9.41%.
  • 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

  • Looking at the Profit Margin, with a value of 9.10%, SHL is in the better half of the industry, outperforming 70.69% of the companies in the same industry.
  • SHL's Profit Margin has been stable in the last couple of years.
  • SHL has a better Operating Margin (13.49%) than 65.52% of its industry peers.
  • SHL's Operating Margin has been stable in the last couple of years.
  • SHL has a worse Gross Margin (38.44%) than 77.59% 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.
  • SHL has less shares outstanding than it did 1 year ago.
  • SHL has more shares outstanding than it did 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

  • An Altman-Z score of 1.82 indicates that SHL is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • SHL's Altman-Z score of 1.82 is on the low side compared to the rest of the industry. SHL is outperformed by 63.79% 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 comparable to the rest of the industry.
  • SHL has a Debt/Equity ratio of 0.53. This is a neutral value indicating 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 63.79% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.53
Debt/FCF 6.56
Altman-Z 1.82
ROIC/WACC1.28
WACC6.14%
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 1.04. This is a normal value and indicates that SHL is financially healthy and should not expect problems in meeting its short term obligations.
  • SHL has a Current ratio of 1.04. This is in the lower half of the industry: SHL underperforms 74.14% of its industry peers.
  • A Quick Ratio of 0.72 indicates that SHL may have some problems paying its short term obligations.
  • The Quick ratio of SHL (0.72) is worse than 72.41% 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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4

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.
  • SHL shows a small growth in Revenue. In the last year, the Revenue has grown by 2.76%.
  • 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

  • Based on estimates for the next years, SHL will show a quite strong growth in Earnings Per Share. The EPS will grow by 8.02% on average per year.
  • SHL is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.77% yearly.
EPS Next Y-2.64%
EPS Next 2Y5.26%
EPS Next 3Y7.63%
EPS Next 5Y8.02%
Revenue Next Year1.79%
Revenue Next 2Y3.93%
Revenue Next 3Y4.65%
Revenue Next 5Y4.77%

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.
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 5B 10B 15B 20B 25B
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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5

4. SHL.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 14.89, SHL is valued correctly.
  • Compared to the rest of the industry, the Price/Earnings ratio of SHL indicates a rather cheap valuation: SHL is cheaper than 89.66% of the companies listed in the same industry.
  • When comparing the Price/Earnings ratio of SHL to the average of the S&P500 Index (26.91), we can say SHL is valued slightly cheaper.
  • SHL is valuated correctly with a Price/Forward Earnings ratio of 12.82.
  • Based on the Price/Forward Earnings ratio, SHL is valued a bit cheaper than the industry average as 79.31% of the companies are valued more expensively.
  • SHL's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 21.99.
Industry RankSector Rank
PE 14.89
Fwd PE 12.82
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

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SHL indicates a somewhat cheap valuation: SHL is cheaper than 65.52% of the companies listed in the same industry.
  • 79.31% of the companies in the same industry are more expensive than SHL, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 17.14
EV/EBITDA 11.59
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)1.32
EPS Next 2Y5.26%
EPS Next 3Y7.63%

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7

5. SHL.DE Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.78%, SHL has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 1.30, SHL pays a better dividend. On top of this SHL pays more dividend than 84.48% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.82, SHL pays a better dividend.
Industry RankSector 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
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.
  • The dividend of SHL is growing, but earnings are growing more, so the dividend growth is sustainable.
DP50.31%
EPS Next 2Y5.26%
EPS Next 3Y7.63%
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 (4/29/2026, 2:18:06 PM)

33.96

-1.3 (-3.69%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Industry Strength42.57
Industry Growth70
Earnings (Last)02-05
Earnings (Next)05-07
Inst Owners13.8%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap38.31B
Revenue(TTM)23.30B
Net Income(TTM)2.12B
Analysts79.29
Price Target54.21 (59.63%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector 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)-2.14%
EPS NQ rev (3m)-8.05%
EPS NY rev (1m)0.75%
EPS NY rev (3m)-1.92%
Revenue NQ rev (1m)-0.86%
Revenue NQ rev (3m)-2.11%
Revenue NY rev (1m)-0.3%
Revenue NY rev (3m)-1.01%
Valuation
Industry RankSector Rank
PE 14.89
Fwd PE 12.82
P/S 1.64
P/FCF 17.14
P/OCF 12.58
P/B 2.08
P/tB N/A
EV/EBITDA 11.59
EPS(TTM)2.28
EY6.71%
EPS(NY)2.65
Fwd EY7.8%
FCF(TTM)1.98
FCFY5.83%
OCF(TTM)2.7
OCFY7.95%
SpS20.65
BVpS16.34
TBVpS-4.52
PEG (NY)N/A
PEG (5Y)1.32
Graham Number28.9504 (-14.75%)
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 1.82
F-Score7
WACC6.14%
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-2.64%
EPS Next 2Y5.26%
EPS Next 3Y7.63%
EPS Next 5Y8.02%
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 5Y4.77%
EBIT growth 1Y7.86%
EBIT growth 3Y2.65%
EBIT growth 5Y10.19%
EBIT Next Year31.85%
EBIT Next 3Y17.07%
EBIT Next 5Y12.82%
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 7 / 10 and the dividend payout ratio is 50.31%.