SIEMENS HEALTHINEERS AG (SHL.DE) Fundamental Analysis & Valuation
FRA:SHL • DE000SHL1006
Current stock price
35.99 EUR
-0.4 (-1.1%)
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
- 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.
- SHL had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- The Return On Assets of SHL (4.79%) is better than 65.57% of its industry peers.
- SHL has a better Return On Equity (11.50%) than 72.13% of its industry peers.
- SHL's Return On Invested Capital of 7.88% is fine compared to the rest of the industry. SHL outperforms 63.93% of its industry peers.
- SHL had an Average Return On Invested Capital over the past 3 years of 6.28%. This is below the industry average of 10.18%.
- 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
- With a decent Profit Margin value of 9.10%, SHL is doing good in the industry, outperforming 67.21% of the companies in the same industry.
- SHL's Profit Margin has been stable in the last couple of years.
- The Operating Margin of SHL (13.49%) is better than 60.66% of its industry peers.
- SHL's Operating Margin has been stable in the last couple of years.
- SHL's Gross Margin of 38.44% is on the low side compared to the rest of the industry. SHL is outperformed by 81.97% 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
- With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), SHL is creating some value.
- Compared to 1 year ago, SHL has less shares outstanding
- Compared to 5 years ago, SHL has more shares outstanding
- 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.
- Looking at the Altman-Z score, with a value of 1.83, SHL is doing worse than 65.57% 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.
- With a Debt to FCF ratio value of 6.56, SHL perfoms like the industry average, outperforming 52.46% of the companies in the same 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 worse Debt to Equity ratio (0.53) than 62.30% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.53 | ||
| Debt/FCF | 6.56 | ||
| Altman-Z | 1.83 |
ROIC/WACC1.3
WACC6.07%
2.3 Liquidity
- A Current Ratio of 1.04 indicates that SHL should not have too much problems paying its short term obligations.
- The Current ratio of SHL (1.04) is worse than 75.41% of its industry peers.
- 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: 72.13% 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
- 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.
- The Revenue has been growing slightly by 2.76% in the past 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
- 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.
- 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.
- 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
- SHL is valuated correctly with a Price/Earnings ratio of 15.79.
- 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 (25.60), we can say SHL is valued slightly cheaper.
- SHL is valuated correctly with a Price/Forward Earnings ratio of 13.79.
- 78.69% of the companies in the same industry are more expensive than SHL, based on the Price/Forward Earnings ratio.
- SHL is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.84, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.79 | ||
| Fwd PE | 13.79 |
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.
- 80.33% 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 | 18.16 | ||
| EV/EBITDA | 11.78 |
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%
5. SHL.DE Dividend Analysis
5.1 Amount
- With a Yearly Dividend Yield of 2.80%, SHL has a reasonable but not impressive dividend return.
- SHL's Dividend Yield is rather good when compared to the industry average which is at 1.17. SHL pays more dividend than 90.16% of the companies in the same industry.
- SHL's Dividend Yield is a higher than the S&P500 average which is at 1.90.
| Industry Rank | Sector 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 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 (4/2/2026, 7:00:00 PM)
35.99
-0.4 (-1.1%)
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 Cap40.60B
Revenue(TTM)23.30B
Net Income(TTM)2.12B
Analysts79.29
Price Target54.94 (52.65%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.8% |
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)-2.4%
PT rev (3m)-2.95%
EPS NQ rev (1m)0.16%
EPS NQ rev (3m)-10.75%
EPS NY rev (1m)-2.65%
EPS NY rev (3m)-3.06%
Revenue NQ rev (1m)-0.28%
Revenue NQ rev (3m)-2.35%
Revenue NY rev (1m)-0.18%
Revenue NY rev (3m)-0.72%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.79 | ||
| Fwd PE | 13.79 | ||
| P/S | 1.74 | ||
| P/FCF | 18.16 | ||
| P/OCF | 13.34 | ||
| P/B | 2.2 | ||
| P/tB | N/A | ||
| EV/EBITDA | 11.78 |
EPS(TTM)2.28
EY6.34%
EPS(NY)2.61
Fwd EY7.25%
FCF(TTM)1.98
FCFY5.51%
OCF(TTM)2.7
OCFY7.5%
SpS20.65
BVpS16.34
TBVpS-4.52
PEG (NY)N/A
PEG (5Y)1.4
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 | 1.83 |
F-Score7
WACC6.07%
ROIC/WACC1.3
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 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%.