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.

6

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.
  • In the past 5 years SHL has always been profitable.
  • 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

  • The Return On Assets of SHL (4.79%) is better than 65.57% of its industry peers.
  • Looking at the Return On Equity, with a value of 11.50%, SHL is in the better half of the industry, outperforming 75.41% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 7.88%, SHL is in the better half of the industry, outperforming 65.57% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years 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 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

  • SHL's Profit Margin of 9.10% is fine compared to the rest of the industry. SHL outperforms 67.21% of its industry peers.
  • SHL's Profit Margin has been stable in the last couple of years.
  • SHL has a better Operating Margin (13.49%) than 60.66% of its industry peers.
  • In the last couple of years the Operating Margin of SHL has remained more or less at the same level.
  • SHL has a Gross Margin of 38.44%. This is amonst the worse of the industry: SHL underperforms 80.33% 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

  • 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
  • The number of shares outstanding for SHL has been increased compared to 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

  • SHL has an Altman-Z score of 1.82. 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 1.82 is on the low side compared to the rest of the industry. SHL is outperformed by 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 of 6.56. This is comparable to the rest of the industry: SHL outperforms 49.18% of its industry peers.
  • A Debt/Equity ratio of 0.53 indicates that SHL is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.53, SHL is doing worse than 63.93% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.53
Debt/FCF 6.56
Altman-Z 1.82
ROIC/WACC1.27
WACC6.21%
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.
  • 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.
  • SHL has a worse Quick ratio (0.72) than 73.77% 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%.
  • The Earnings Per Share has been growing by 11.29% on average over the past years. This is quite good.
  • 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

  • SHL is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.02% yearly.
  • The Revenue is expected to grow by 4.77% on average over the next years.
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

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • 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.
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

  • Based on the Price/Earnings ratio of 15.54, the valuation of SHL can be described as correct.
  • 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.
  • The average S&P500 Price/Earnings ratio is at 27.42. SHL is valued slightly cheaper when compared to this.
  • The Price/Forward Earnings ratio is 13.38, which indicates a correct valuation of SHL.
  • Based on the Price/Forward Earnings ratio, SHL is valued cheaply inside the industry as 81.97% of the companies are valued more expensively.
  • When comparing the Price/Forward Earnings ratio of SHL to the average of the S&P500 Index (22.24), we can say SHL is valued slightly cheaper.
Industry RankSector Rank
PE 15.54
Fwd PE 13.38
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

  • Based on the Enterprise Value to EBITDA ratio, SHL is valued a bit cheaper than the industry average as 68.85% of the companies are valued more expensively.
  • 78.69% 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 17.88
EV/EBITDA 11.64
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

  • SHL has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.38
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.
  • SHL's Dividend Yield is rather good when compared to the industry average which is at 1.23. SHL pays more dividend than 83.61% of the companies in the same industry.
  • SHL's Dividend Yield is rather good when compared to the S&P500 average which is at 1.81.
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

  • 50.31% 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.
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 (4/24/2026, 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
Earnings (Next)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 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 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 11.64
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 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
WACC6.21%
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 5Y8.02%
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 6 / 10 and the dividend payout ratio is 50.31%.