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

FRA:SHL • DE000SHL1006

Current stock price

38.29 EUR
-0.62 (-1.59%)
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.
  • In the past 5 years SHL has always been profitable.
  • SHL had a positive operating cash flow in each of the past 5 years.
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's Return On Assets of 4.79% is fine compared to the rest of the industry. SHL outperforms 65.57% of its industry peers.
  • SHL's Return On Equity of 11.50% is fine compared to the rest of the industry. SHL outperforms 75.41% of its industry peers.
  • With a decent Return On Invested Capital value of 7.88%, SHL is doing good in the industry, outperforming 65.57% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for SHL is below the industry average of 10.31%.
  • 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

  • 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.
  • In the last couple of years the Profit Margin of SHL has remained more or less at the same level.
  • Looking at the Operating Margin, with a value of 13.49%, SHL is in the better half of the industry, outperforming 60.66% of the companies in the same industry.
  • SHL's Operating Margin has been stable in the last couple of years.
  • The Gross Margin of SHL (38.44%) is worse than 80.33% 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 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

  • SHL has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • SHL has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, SHL has more shares outstanding
  • 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 1.91. 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 1.91 is on the low side compared to the rest of the industry. SHL is outperformed by 63.93% of its industry peers.
  • 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.
  • The Debt to FCF ratio of SHL (6.56) 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 62.30% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.53
Debt/FCF 6.56
Altman-Z 1.91
ROIC/WACC1.26
WACC6.25%
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 75.41% of its industry peers.
  • A Quick Ratio of 0.72 indicates that SHL may have some problems paying 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 72.13% 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

  • SHL shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 1.33%.
  • 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.
  • Measured over the past years, SHL shows a quite strong growth in Revenue. The Revenue has been growing by 10.08% on average per year.
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

  • SHL is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.69% yearly.
  • The Revenue is expected to grow by 5.34% on average over the next years.
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.
  • 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 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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5

4. SHL.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 16.79, SHL is valued correctly.
  • SHL's Price/Earnings ratio is rather cheap when compared to the industry. SHL is cheaper than 90.16% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 27.89, SHL is valued a bit cheaper.
  • The Price/Forward Earnings ratio is 14.46, which indicates a correct valuation of SHL.
  • Based on the Price/Forward Earnings ratio, SHL is valued a bit cheaper than 77.05% of the companies in the same industry.
  • SHL's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 38.50.
Industry RankSector Rank
PE 16.79
Fwd PE 14.46
SHL.DE Price Earnings VS Forward Price EarningsSHL.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, SHL is valued a bit cheaper than the industry average as 65.57% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, SHL is valued a bit cheaper than the industry average as 77.05% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 19.32
EV/EBITDA 12.52
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)1.49
EPS Next 2Y5.26%
EPS Next 3Y7.63%

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6

5. SHL.DE Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.61%, SHL has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 1.26, SHL pays a bit more dividend than its industry peers.
  • SHL's Dividend Yield is a higher than the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 2.61%

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 (4/20/2026, 5:36:15 PM)

38.29

-0.62 (-1.59%)

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 Owners13.8%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap43.19B
Revenue(TTM)23.30B
Net Income(TTM)2.12B
Analysts79.29
Price Target54.21 (41.58%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.61%
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 RankSector Rank
PE 16.79
Fwd PE 14.46
P/S 1.85
P/FCF 19.32
P/OCF 14.19
P/B 2.34
P/tB N/A
EV/EBITDA 12.52
EPS(TTM)2.28
EY5.95%
EPS(NY)2.65
Fwd EY6.92%
FCF(TTM)1.98
FCFY5.17%
OCF(TTM)2.7
OCFY7.05%
SpS20.65
BVpS16.34
TBVpS-4.52
PEG (NY)N/A
PEG (5Y)1.49
Graham Number28.9504 (-24.39%)
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 1.91
F-Score7
WACC6.25%
ROIC/WACC1.26
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%.