(SHL) Siemens Healthineers - Overview
Sector: Healthcare | Industry: Medical Devices | Exchange: XETRA (Germany) | Market Cap: 38.612m EUR | Total Return: -25.3% in 12m
Avg Turnover: 35.5M
EPS Trend: 73.8%
Qual. Beats: -1
Rev. Trend: 94.1%
Qual. Beats: -1
Warnings
Altman Z'' 0.99 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
Siemens Healthineers AG is a global medical technology company headquartered in Germany, operating primarily through four segments: Imaging, Diagnostics, Varian, and Advanced Therapies. The company develops and manufactures diagnostic and therapeutic systems, including MRI, CT, and X-ray hardware, alongside AI-supported software and laboratory informatics. Its Varian division focuses specifically on multi-modal cancer care technologies, while the Advanced Therapies segment supports minimally invasive clinical procedures.
The company operates within the Health Care Equipment sector, which is characterized by high research and development costs and significant regulatory barriers to entry. Siemens Healthineers utilizes a recurring revenue model by providing long-term technical services, maintenance, and clinical education to healthcare providers globally. For deeper insights into these operational trends, ValueRay offers additional data for further research. As a subsidiary of Siemens AG, the firm leverages an extensive global distribution network spanning Europe, the Americas, and the Asia Pacific region.
- Imaging segment order backlog growth drives long-term revenue visibility and margin expansion
- Varian integration synergies and cancer care demand accelerate specialized oncology revenue
- Diagnostics segment restructuring and Atellica platform adoption improve operational profitability
- High exposure to Chinese healthcare spending volatility impacts regional growth targets
- Rising research and development costs for AI-powered clinical applications pressure margins
| Net Income: 2.10b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -0.54 > 1.0 |
| NWC/Revenue: 5.61% < 20% (prev 5.71%; Δ -0.10% < -1%) |
| CFO/TA 0.06 > 3% & CFO 2.81b > Net Income 2.10b |
| Net Debt (14.1b) to EBITDA (4.42b): 3.19 < 3 |
| Current Ratio: 1.10 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.12b) vs 12m ago -0.37% < -2% |
| Gross Margin: 38.03% > 18% (prev 0.39%; Δ 3.76k% > 0.5%) |
| Asset Turnover: 50.30% > 50% (prev 49.34%; Δ 0.96% > 0%) |
| Interest Coverage Ratio: 7.80 > 6 (EBITDA TTM 4.42b / Interest Expense TTM 408.0m) |
| A: 0.03 (Total Current Assets 14.2b - Total Current Liabilities 12.9b) / Total Assets 44.8b |
| B: 0.07 (Retained Earnings 3.05b / Total Assets 44.8b) |
| C: 0.07 (EBIT TTM 3.18b / Avg Total Assets 45.9b) |
| D: 0.10 (Book Value of Equity 2.77b / Total Liabilities 26.6b) |
| Altman-Z'' = 0.99 = BB |
| DSRI: 1.03 (Receivables 6.63b/6.48b, Revenue 23.1b/23.1b) |
| GMI: 1.02 (GM 38.03% / 38.77%) |
| AQI: 0.98 (AQ_t 0.58 / AQ_t-1 0.59) |
| SGI: 1.00 (Revenue 23.1b / 23.1b) |
| TATA: -0.02 (NI 2.10b - CFO 2.81b) / TA 44.8b) |
| Beneish M = -3.02 (Cap -4..+1) = AA |
As of May 27, 2026, the stock is trading at EUR 34.62 with a total of 682,349 shares traded.
Over the past week, the price has changed by +2.24%,
over one month by -2.67%,
over three months by -18.33% and
over the past year by -25.27%.
Siemens Healthineers has no consensus analysts rating.
P/E Trailing = 18.254
P/E Forward = 14.881
P/S = 1.674
P/B = 2.0952
P/EG = 1.599
Revenue TTM = 23.1b EUR
EBIT TTM = 3.18b EUR
EBITDA TTM = 4.42b EUR
Long Term Debt = 10.8b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 3.90b EUR (from shortTermDebt, last quarter)
Debt = 16.0b EUR (from shortLongTermDebtTotal, last quarter) + Leases 663.0m
Net Debt = 14.1b EUR (calculated: Debt 16.0b - CCE 1.91b)
Enterprise Value = 52.7b EUR (38.6b + Debt 16.0b - CCE 1.91b)
Interest Coverage Ratio = 7.80 (Ebit TTM 3.18b / Interest Expense TTM 408.0m)
EV/FCF = 26.20x (Enterprise Value 52.7b / FCF TTM 2.01b)
FCF Yield = 3.82% (FCF TTM 2.01b / Enterprise Value 52.7b)
FCF Margin = 8.72% (FCF TTM 2.01b / Revenue TTM 23.1b)
Net Margin = 9.09% (Net Income TTM 2.10b / Revenue TTM 23.1b)
Gross Margin = 38.03% ((Revenue TTM 23.1b - Cost of Revenue TTM 14.3b) / Revenue TTM)
Gross Margin QoQ = 37.68% (prev 38.43%)
Tobins Q-Ratio = 1.18 (Enterprise Value 52.7b / Total Assets 44.8b)
Interest Expense / Debt = 2.55% (Interest Expense 408.0m / Debt 16.0b)
Taxrate = 20.50% (132.0m / 644.0m)
NOPAT = 2.53b (EBIT 3.18b * (1 - 20.50%))
Current Ratio = 1.10 (Total Current Assets 14.2b / Total Current Liabilities 12.9b)
Debt / Equity = 0.88 (Debt 16.0b / totalStockholderEquity, last quarter 18.2b)
Debt / EBITDA = 3.19 (Net Debt 14.1b / EBITDA 4.42b)
Debt / FCF = 7.00 (Net Debt 14.1b / FCF TTM 2.01b)
Total Stockholder Equity = 18.1b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.57% (Net Income 2.10b / Total Assets 44.8b)
RoE = 11.59% (Net Income TTM 2.10b / Total Stockholder Equity 18.1b)
RoCE = 11.00% (EBIT 3.18b / Capital Employed (Equity 18.1b + L.T.Debt 10.8b))
RoIC = 7.06% (NOPAT 2.53b / Invested Capital 35.8b)
WACC = 6.33% (E(38.6b)/V(54.6b) * Re(8.11%) + D(16.0b)/V(54.6b) * Rd(2.55%) * (1-Tc(0.20)))
Discount Rate = 8.11% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -13.48 | Cagr: -0.38%
[DCF] Terminal Value 73.14% ; FCFF base≈2.15b ; Y1≈1.89b ; Y5≈1.53b
[DCF] Fair Price = 9.40 (EV 24.6b - Net Debt 14.1b = Equity 10.5b / Shares 1.12b; r=8.35% [WACC [floored]]; 5y FCF grow -14.79% → 2.50% )
EPS Correlation: 73.77 | EPS CAGR: 3.88% | SUE: -1.44 | # QB: -1
Revenue Correlation: 94.13 | Revenue CAGR: 3.33% | SUE: -2.66 | # QB: -1
EPS current Quarter (2026-06-30): EPS=0.57 | Chg30d=-1.41% | Revisions=-14% | Analysts=3
EPS current Year (2026-09-30): EPS=2.23 | Chg30d=-2.75% | Revisions=-65% | GrowthEPS=-6.7% | GrowthRev=+1.7%
EPS next Year (2027-09-30): EPS=2.52 | Chg30d=-3.35% | Revisions=-76% | GrowthEPS=+13.2% | GrowthRev=+5.9%
[Analyst] Revisions Ratio: -76%