SIEMENS HEALTHINEERS AG (SHL.DE) Stock Fundamental Analysis

FRA:SHL • DE000SHL1006

42.14 EUR
-0.25 (-0.59%)
Last: Feb 27, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

SHL gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 65 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 has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • In the past year SHL was profitable.
  • SHL had a positive operating cash flow in the past year.
  • Each year in the past 5 years SHL has 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

  • The Return On Assets of SHL (4.79%) is better than 66.15% of its industry peers.
  • SHL's Return On Equity of 11.50% is fine compared to the rest of the industry. SHL outperforms 70.77% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 7.88%, SHL is in the better half of the industry, outperforming 64.62% of the companies in the same industry.
  • SHL had an Average Return On Invested Capital over the past 3 years of 6.28%. This is below the industry average of 9.73%.
  • 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

  • The Profit Margin of SHL (9.10%) is better than 64.62% of its industry peers.
  • In the last couple of years the Profit Margin of SHL has remained more or less at the same level.
  • SHL has a Operating Margin of 13.49%. This is in the better half of the industry: SHL outperforms 61.54% 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 80.00% 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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ROAROEROICOperating and Profit MarginShow most profitable peers

3

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.
  • The number of shares outstanding for SHL has been reduced compared to 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 2.00 indicates that SHL is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • With a Altman-Z score value of 2.00, SHL is not doing good in the industry: 63.08% of the companies in the same industry are doing better.
  • 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.
  • 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.
  • The Debt to Equity ratio of SHL (0.53) is worse than 60.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.53
Debt/FCF 6.56
Altman-Z 2
ROIC/WACC1.21
WACC6.49%
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's Current ratio of 1.04 is on the low side compared to the rest of the industry. SHL is outperformed by 76.92% of its industry peers.
  • A Quick Ratio of 0.72 indicates that SHL may have some problems paying its short term obligations.
  • SHL has a worse Quick ratio (0.72) than 73.85% 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

5

3. Growth

3.1 Past

  • The Earnings Per Share has been growing slightly by 1.33% over the past year.
  • SHL shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 11.29% yearly.
  • 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

  • The Earnings Per Share is expected to grow by 9.07% 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 5.41% on average per year.
EPS Next Y-0.73%
EPS Next 2Y5.79%
EPS Next 3Y8.53%
EPS Next 5Y9.07%
Revenue Next Year2.83%
Revenue Next 2Y4.53%
Revenue Next 3Y5.13%
Revenue Next 5Y5.41%

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 stable.
  • 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 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. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 18.48 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 76.92% of the companies listed in the same industry.
  • SHL's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.10.
  • SHL is valuated correctly with a Price/Forward Earnings ratio of 15.76.
  • Based on the Price/Forward Earnings ratio, SHL is valued a bit cheaper than the industry average as 70.77% of the companies are valued more expensively.
  • The average S&P500 Price/Forward Earnings ratio is at 28.06. SHL is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 18.48
Fwd PE 15.76
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 66.15% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, SHL is valued a bit cheaper than 76.92% of the companies in the same industry.
Industry RankSector Rank
P/FCF 21.27
EV/EBITDA 13.41
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)1.64
EPS Next 2Y5.79%
EPS Next 3Y8.53%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 2.48%, 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 1.14. SHL pays more dividend than 81.54% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.80, SHL pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.48%

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
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.
  • SHL's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP50.31%
EPS Next 2Y5.79%
EPS Next 3Y8.53%
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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SIEMENS HEALTHINEERS AG

FRA:SHL (2/27/2026, 7:00:00 PM)

42.14

-0.25 (-0.59%)

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 Owners12.21%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap47.53B
Revenue(TTM)23.30B
Net Income(TTM)2.12B
Analysts79.29
Price Target56.29 (33.58%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.48%
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)-0.56%
PT rev (3m)-1.61%
EPS NQ rev (1m)-0.84%
EPS NQ rev (3m)-6.18%
EPS NY rev (1m)0%
EPS NY rev (3m)-7.04%
Revenue NQ rev (1m)-0.29%
Revenue NQ rev (3m)-2.51%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.34%
Valuation
Industry RankSector Rank
PE 18.48
Fwd PE 15.76
P/S 2.04
P/FCF 21.27
P/OCF 15.62
P/B 2.58
P/tB N/A
EV/EBITDA 13.41
EPS(TTM)2.28
EY5.41%
EPS(NY)2.67
Fwd EY6.35%
FCF(TTM)1.98
FCFY4.7%
OCF(TTM)2.7
OCFY6.4%
SpS20.65
BVpS16.34
TBVpS-4.52
PEG (NY)N/A
PEG (5Y)1.64
Graham Number28.95
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 2
F-Score7
WACC6.49%
ROIC/WACC1.21
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-0.73%
EPS Next 2Y5.79%
EPS Next 3Y8.53%
EPS Next 5Y9.07%
Revenue 1Y (TTM)2.76%
Revenue growth 3Y2.49%
Revenue growth 5Y10.08%
Sales Q2Q%-1.46%
Revenue Next Year2.83%
Revenue Next 2Y4.53%
Revenue Next 3Y5.13%
Revenue Next 5Y5.41%
EBIT growth 1Y7.86%
EBIT growth 3Y2.65%
EBIT growth 5Y10.19%
EBIT Next Year34.58%
EBIT Next 3Y17.72%
EBIT Next 5Y13.63%
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 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.


Can you provide the profitability details for SIEMENS HEALTHINEERS AG?

SIEMENS HEALTHINEERS AG (SHL.DE) has a profitability rating of 6 / 10.


Can you provide the PE and PB ratios for SHL stock?

The Price/Earnings (PE) ratio for SIEMENS HEALTHINEERS AG (SHL.DE) is 18.48 and the Price/Book (PB) ratio is 2.58.


How financially healthy is SIEMENS HEALTHINEERS AG?

The financial health rating of SIEMENS HEALTHINEERS AG (SHL.DE) is 3 / 10.