(SHL) Siemens Healthineers - Ratings and Ratios
Imaging, Diagnostics, Varian, Advanced Therapies
SHL EPS (Earnings per Share)
SHL Revenue
Description: SHL Siemens Healthineers September 26, 2025
Siemens Healthineers AG (XETRA: SHL) is a globally diversified medical-technology group that sells diagnostic and therapeutic hardware, software, and services through four operating segments: Imaging, Diagnostics, Varian (cancer-care solutions), and Advanced Therapies (image-guided minimally invasive devices). The company also generates recurring revenue from service contracts, equipment financing, and digital-health consulting, and it has an AI partnership with Carna Health to develop chronic-kidney-disease screening tools.
In FY 2023 the firm reported €21.0 billion of revenue, with the Imaging segment contributing roughly 55 % of total sales and delivering an operating margin of about 13 %. Diagnostics accounted for ~30 % of revenue, while Varian and Advanced Therapies together made up the remaining 15 %. R&D spend stayed near €2 billion (≈9.5 % of revenue), underscoring a continued focus on AI-enabled imaging and next-generation oncology platforms.
Key economic drivers for SHL include: (1) a secular rise in global healthcare spending-projected at a 5 % CAGR through 2030-fueling demand for high-capacity imaging and lab automation; (2) aging populations in Europe and North America that increase utilization of MRI, CT, and interventional radiology procedures; and (3) accelerating adoption of AI and cloud-based workflow solutions, which can boost service-contract renewal rates and create “sticky” recurring-revenue streams.
Assuming the FY 2024 guidance holds and the company successfully scales its AI-driven diagnostics, the implied forward EV/EBITDA could compress to the low-mid-teens, offering a potentially attractive risk-adjusted entry point; however, uncertainty remains around reimbursement reforms in the U.S. and supply-chain constraints for semiconductor components, which could materially affect margins.
For a deeper quantitative assessment, the ValueRay platform offers a granular view of SHL’s valuation metrics and scenario analyses.
SHL Stock Overview
| Market Cap in USD | 64,483m |
| Sub-Industry | Health Care Equipment |
| IPO / Inception |
SHL Stock Ratings
| Growth Rating | -12.6% |
| Fundamental | 71.4% |
| Dividend Rating | 52.7% |
| Return 12m vs S&P 500 | -15.2% |
| Analyst Rating | - |
SHL Dividends
| Dividend Yield 12m | 1.96% |
| Yield on Cost 5y | 2.82% |
| Annual Growth 5y | 4.39% |
| Payout Consistency | 98.6% |
| Payout Ratio | 39.9% |
SHL Growth Ratios
| Growth Correlation 3m | 51.5% |
| Growth Correlation 12m | -57.8% |
| Growth Correlation 5y | 15.7% |
| CAGR 5y | 0.29% |
| CAGR/Max DD 3y (Calmar Ratio) | 0.01 |
| CAGR/Mean DD 3y (Pain Ratio) | 0.03 |
| Sharpe Ratio 12m | 0.68 |
| Alpha | -12.89 |
| Beta | 0.751 |
| Volatility | 21.82% |
| Current Volume | 451.4k |
| Average Volume 20d | 639.8k |
| Stop Loss | 47.1 (-3%) |
| Signal | 0.35 |
Piotroski VR‑10 (Strict, 0-10) 8.0
| Net Income (2.17b TTM) > 0 and > 6% of Revenue (6% = 1.40b TTM) |
| FCFTA 0.06 (>2.0%) and ΔFCFTA 3.32pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 6.39% (prev 13.67%; Δ -7.28pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.08 (>3.0%) and CFO 3.39b > Net Income 2.17b (YES >=105%, WARN >=100%) |
| Net Debt (13.32b) to EBITDA (4.68b) ratio: 2.85 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.12 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (1.13b) change vs 12m ago 0.71% (target <= -2.0% for YES) |
| Gross Margin 38.76% (prev 37.82%; Δ 0.95pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 51.26% (prev 47.38%; Δ 3.88pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 7.39 (EBITDA TTM 4.68b / Interest Expense TTM 458.0m) >= 6 (WARN >= 3) |
Altman Z'' 1.01
| (A) 0.03 = (Total Current Assets 14.13b - Total Current Liabilities 12.64b) / Total Assets 44.60b |
| (B) 0.06 = Retained Earnings (Balance) 2.70b / Total Assets 44.60b |
| (C) 0.07 = EBIT TTM 3.39b / Avg Total Assets 45.61b |
| (D) 0.08 = Book Value of Equity 2.28b / Total Liabilities 26.88b |
| Total Rating: 1.01 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 71.43
| 1. Piotroski 8.0pt = 3.0 |
| 2. FCF Yield 3.81% = 1.90 |
| 3. FCF Margin 11.21% = 2.80 |
| 4. Debt/Equity 0.89 = 2.12 |
| 5. Debt/Ebitda 2.85 = -1.54 |
| 6. ROIC - WACC (= 6.79)% = 8.49 |
| 7. RoE 11.69% = 0.97 |
| 8. Rev. Trend 28.71% = 2.15 |
| 9. EPS Trend 30.61% = 1.53 |
What is the price of SHL shares?
Over the past week, the price has changed by -1.94%, over one month by +5.54%, over three months by +2.68% and over the past year by +2.96%.
Is Siemens Healthineers a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of SHL is around 44.94 EUR . This means that SHL is currently overvalued and has a potential downside of -7.47%.
Is SHL a buy, sell or hold?
What are the forecasts/targets for the SHL price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 58.8 | 21.1% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 49.4 | 1.7% |
SHL Fundamental Data Overview January 01, 1970
Market Cap EUR = 55.55b (55.55b EUR * 1.0 EUR.EUR)
P/E Trailing = 25.6632
P/E Forward = 17.452
P/S = 2.3758
P/B = 3.0226
P/EG = 1.5864
Beta = 0.751
Revenue TTM = 23.38b EUR
EBIT TTM = 3.39b EUR
EBITDA TTM = 4.68b EUR
Long Term Debt = 11.65b EUR (from longTermDebt, last quarter)
Short Term Debt = 4.05b EUR (from shortTermDebt, last quarter)
Debt = 15.70b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 13.32b EUR (from netDebt column, last quarter)
Enterprise Value = 68.87b EUR (55.55b + Debt 15.70b - CCE 2.37b)
Interest Coverage Ratio = 7.39 (Ebit TTM 3.39b / Interest Expense TTM 458.0m)
FCF Yield = 3.81% (FCF TTM 2.62b / Enterprise Value 68.87b)
FCF Margin = 11.21% (FCF TTM 2.62b / Revenue TTM 23.38b)
Net Margin = 9.29% (Net Income TTM 2.17b / Revenue TTM 23.38b)
Gross Margin = 38.76% ((Revenue TTM 23.38b - Cost of Revenue TTM 14.32b) / Revenue TTM)
Gross Margin QoQ = 38.52% (prev 39.31%)
Tobins Q-Ratio = 1.54 (Enterprise Value 68.87b / Total Assets 44.60b)
Interest Expense / Debt = 0.66% (Interest Expense 104.0m / Debt 15.70b)
Taxrate = 24.46% (180.0m / 736.0m)
NOPAT = 2.56b (EBIT 3.39b * (1 - 24.46%))
Current Ratio = 1.12 (Total Current Assets 14.13b / Total Current Liabilities 12.64b)
Debt / Equity = 0.89 (Debt 15.70b / totalStockholderEquity, last quarter 17.68b)
Debt / EBITDA = 2.85 (Net Debt 13.32b / EBITDA 4.68b)
Debt / FCF = 5.08 (Net Debt 13.32b / FCF TTM 2.62b)
Total Stockholder Equity = 18.58b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.87% (Net Income 2.17b / Total Assets 44.60b)
RoE = 11.69% (Net Income TTM 2.17b / Total Stockholder Equity 18.58b)
RoCE = 11.20% (EBIT 3.39b / Capital Employed (Equity 18.58b + L.T.Debt 11.65b))
RoIC = 13.75% (NOPAT 2.56b / Invested Capital 18.61b)
WACC = 6.96% (E(55.55b)/V(71.25b) * Re(8.78%) + D(15.70b)/V(71.25b) * Rd(0.66%) * (1-Tc(0.24)))
Discount Rate = 8.78% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -0.34%
[DCF Debug] Terminal Value 76.88% ; FCFE base≈2.05b ; Y1≈2.22b ; Y5≈2.77b
Fair Price DCF = 37.61 (DCF Value 42.18b / Shares Outstanding 1.12b; 5y FCF grow 9.52% → 3.0% )
EPS Correlation: 30.61 | EPS CAGR: -0.56% | SUE: 3.08 | # QB: 1
Revenue Correlation: 28.71 | Revenue CAGR: -2.09% | SUE: 0.27 | # QB: 0