SIEMENS HEALTHINEERS AG (SHL.DE) Stock Fundamental Analysis
FRA:SHL - Deutsche Boerse Ag - DE000SHL1006 - Common Stock - Currency: EUR
SHL gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 55 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. Profitability
1.1 Basic Checks
In the past year SHL was profitable.
SHL had a positive operating cash flow in the past year.
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.
1.2 Ratios
Looking at the Return On Assets, with a value of 4.11%, SHL is in the better half of the industry, outperforming 69.09% of the companies in the same industry.
SHL's Return On Equity of 10.04% is fine compared to the rest of the industry. SHL outperforms 78.18% of its industry peers.
With a decent Return On Invested Capital value of 6.21%, SHL is doing good in the industry, outperforming 70.91% 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 8.28%.
The 3 year average ROIC (5.87%) for SHL is below the current ROIC(6.21%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.11% | ||
| ROE | 10.04% | ||
| ROIC | 6.21% |
ROA(3y)3.87%
ROA(5y)4.27%
ROE(3y)9.76%
ROE(5y)10.27%
ROIC(3y)5.87%
ROIC(5y)6.49%
1.3 Margins
SHL's Profit Margin of 8.76% is fine compared to the rest of the industry. SHL outperforms 67.27% of its industry peers.
SHL's Profit Margin has declined in the last couple of years.
SHL has a Operating Margin of 12.85%. This is in the better half of the industry: SHL outperforms 70.91% of its industry peers.
SHL's Operating Margin has declined in the last couple of years.
The Gross Margin of SHL (38.18%) is worse than 72.73% of its industry peers.
SHL's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 12.85% | ||
| PM (TTM) | 8.76% | ||
| GM | 38.18% |
OM growth 3Y-4.02%
OM growth 5Y-4.5%
PM growth 3Y-3.26%
PM growth 5Y-4.26%
GM growth 3Y-0.66%
GM growth 5Y-1.05%
2. Health
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 more shares outstanding
The number of shares outstanding for SHL has been increased compared to 5 years ago.
SHL has a better debt/assets ratio than last year.
2.2 Solvency
SHL has an Altman-Z score of 2.07. 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 has a Altman-Z score of 2.07. This is comparable to the rest of the industry: SHL outperforms 56.36% of its industry peers.
SHL has a debt to FCF ratio of 6.15. This is a slightly negative value and a sign of low solvency as SHL would need 6.15 years to pay back of all of its debts.
SHL's Debt to FCF ratio of 6.15 is fine compared to the rest of the industry. SHL outperforms 67.27% of its industry peers.
A Debt/Equity ratio of 0.71 indicates that SHL is somewhat dependend on debt financing.
SHL has a worse Debt to Equity ratio (0.71) than 70.91% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.71 | ||
| Debt/FCF | 6.15 | ||
| Altman-Z | 2.07 |
ROIC/WACC1.05
WACC5.94%
2.3 Liquidity
SHL has a Current Ratio of 1.28. This is a normal value and indicates that SHL is financially healthy and should not expect problems in meeting its short term obligations.
SHL's Current ratio of 1.28 is in line compared to the rest of the industry. SHL outperforms 43.64% of its industry peers.
A Quick Ratio of 0.89 indicates that SHL may have some problems paying its short term obligations.
SHL has a Quick ratio of 0.89. This is comparable to the rest of the industry: SHL outperforms 45.45% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.28 | ||
| Quick Ratio | 0.89 |
3. Growth
3.1 Past
SHL shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.95%, which is quite good.
The Earnings Per Share has been growing slightly by 7.27% on average over the past years.
The Revenue has been growing slightly by 4.09% in the past year.
Measured over the past years, SHL shows a quite strong growth in Revenue. The Revenue has been growing by 9.02% on average per year.
EPS 1Y (TTM)10.95%
EPS 3Y3.35%
EPS 5Y7.27%
EPS Q2Q%10.53%
Revenue 1Y (TTM)4.09%
Revenue growth 3Y7.51%
Revenue growth 5Y9.02%
Sales Q2Q%5.91%
3.2 Future
The Earnings Per Share is expected to grow by 11.18% on average over the next years. This is quite good.
Based on estimates for the next years, SHL will show a small growth in Revenue. The Revenue will grow by 6.28% on average per year.
EPS Next Y12.58%
EPS Next 2Y13.34%
EPS Next 3Y13.12%
EPS Next 5Y11.18%
Revenue Next Year5.94%
Revenue Next 2Y6.14%
Revenue Next 3Y6.36%
Revenue Next 5Y6.28%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 23.49 indicates a rather expensive valuation of SHL.
Compared to the rest of the industry, the Price/Earnings ratio of SHL indicates a somewhat cheap valuation: SHL is cheaper than 78.18% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of SHL to the average of the S&P500 Index (29.35), we can say SHL is valued inline with the index average.
Based on the Price/Forward Earnings ratio of 18.28, the valuation of SHL can be described as rather expensive.
Based on the Price/Forward Earnings ratio, SHL is valued a bit cheaper than 69.09% of the companies in the same industry.
SHL's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 22.10.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.49 | ||
| Fwd PE | 18.28 |
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 74.55% of the companies listed in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of SHL indicates a rather cheap valuation: SHL is cheaper than 89.09% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 21.87 | ||
| EV/EBITDA | 17.46 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates SHL does not grow enough to justify the current Price/Earnings ratio.
The decent profitability rating of SHL may justify a higher PE ratio.
SHL's earnings are expected to grow with 13.12% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.87
PEG (5Y)3.23
EPS Next 2Y13.34%
EPS Next 3Y13.12%
5. Dividend
5.1 Amount
SHL has a Yearly Dividend Yield of 1.80%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 2.13, SHL pays a better dividend. On top of this SHL pays more dividend than 81.82% of the companies listed in the same industry.
SHL's Dividend Yield is slightly below the S&P500 average, which is at 2.33.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.8% |
5.2 History
On average, the dividend of SHL grows each year by 6.35%, which is quite nice.
Dividend Growth(5Y)6.35%
Div Incr Years2
Div Non Decr Years5
5.3 Sustainability
53.55% of the earnings are spent on dividend by SHL. 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.
DP53.55%
EPS Next 2Y13.34%
EPS Next 3Y13.12%
FRA:SHL (3/7/2025, 7:00:00 PM)
52.38
-0.32 (-0.61%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners10.28%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap59.08B
Analysts82.22
Price Target63.64 (21.5%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.8% |
Yearly Dividend0.95
Dividend Growth(5Y)6.35%
DP53.55%
Div Incr Years2
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)0.24%
Min Revenue beat(2)-0.81%
Max Revenue beat(2)1.29%
Revenue beat(4)1
Avg Revenue beat(4)-1%
Min Revenue beat(4)-3.02%
Max Revenue beat(4)1.29%
Revenue beat(8)2
Avg Revenue beat(8)-0.45%
Revenue beat(12)5
Avg Revenue beat(12)-0.15%
Revenue beat(16)8
Avg Revenue beat(16)0.73%
PT rev (1m)4.46%
PT rev (3m)5.41%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-5.82%
EPS NY rev (1m)2.35%
EPS NY rev (3m)-1.51%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-3.13%
Revenue NY rev (1m)0.25%
Revenue NY rev (3m)-0.22%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.49 | ||
| Fwd PE | 18.28 | ||
| P/S | 2.61 | ||
| P/FCF | 21.87 | ||
| P/OCF | 17.2 | ||
| P/B | 2.99 | ||
| P/tB | N/A | ||
| EV/EBITDA | 17.46 |
EPS(TTM)2.23
EY4.26%
EPS(NY)2.86
Fwd EY5.47%
FCF(TTM)2.4
FCFY4.57%
OCF(TTM)3.05
OCFY5.82%
SpS20.1
BVpS17.53
TBVpS-5.4
PEG (NY)1.87
PEG (5Y)3.23
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.11% | ||
| ROE | 10.04% | ||
| ROCE | 7.92% | ||
| ROIC | 6.21% | ||
| ROICexc | 6.76% | ||
| ROICexgc | 28.88% | ||
| OM | 12.85% | ||
| PM (TTM) | 8.76% | ||
| GM | 38.18% | ||
| FCFM | 11.92% |
ROA(3y)3.87%
ROA(5y)4.27%
ROE(3y)9.76%
ROE(5y)10.27%
ROIC(3y)5.87%
ROIC(5y)6.49%
ROICexc(3y)6.25%
ROICexc(5y)6.86%
ROICexgc(3y)30.57%
ROICexgc(5y)31.67%
ROCE(3y)7.49%
ROCE(5y)8.29%
ROICexcg growth 3Y-8.79%
ROICexcg growth 5Y-3.88%
ROICexc growth 3Y1.69%
ROICexc growth 5Y-10.54%
OM growth 3Y-4.02%
OM growth 5Y-4.5%
PM growth 3Y-3.26%
PM growth 5Y-4.26%
GM growth 3Y-0.66%
GM growth 5Y-1.05%
F-Score6
Asset Turnover0.47
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.71 | ||
| Debt/FCF | 6.15 | ||
| Debt/EBITDA | 3.39 | ||
| Cap/Depr | 59.34% | ||
| Cap/Sales | 3.24% | ||
| Interest Coverage | 8.67 | ||
| Cash Conversion | 82.8% | ||
| Profit Quality | 136.12% | ||
| Current Ratio | 1.28 | ||
| Quick Ratio | 0.89 | ||
| Altman-Z | 2.07 |
F-Score6
WACC5.94%
ROIC/WACC1.05
Cap/Depr(3y)58.06%
Cap/Depr(5y)61.48%
Cap/Sales(3y)3.63%
Cap/Sales(5y)3.7%
Profit Quality(3y)91.88%
Profit Quality(5y)100.74%
High Growth Momentum
Growth
EPS 1Y (TTM)10.95%
EPS 3Y3.35%
EPS 5Y7.27%
EPS Q2Q%10.53%
EPS Next Y12.58%
EPS Next 2Y13.34%
EPS Next 3Y13.12%
EPS Next 5Y11.18%
Revenue 1Y (TTM)4.09%
Revenue growth 3Y7.51%
Revenue growth 5Y9.02%
Sales Q2Q%5.91%
Revenue Next Year5.94%
Revenue Next 2Y6.14%
Revenue Next 3Y6.36%
Revenue Next 5Y6.28%
EBIT growth 1Y31.99%
EBIT growth 3Y3.18%
EBIT growth 5Y4.12%
EBIT Next Year56.05%
EBIT Next 3Y24.13%
EBIT Next 5Y17.72%
FCF growth 1Y165.16%
FCF growth 3Y-1.94%
FCF growth 5Y15.48%
OCF growth 1Y80.08%
OCF growth 3Y-1.23%
OCF growth 5Y11.83%