(SHL) Siemens Healthineers - Ratings and Ratios
Imaging Systems, Diagnostic Tests, Cancer Therapy, Interventional Imaging
Dividends
| Dividend Yield | 4.39% |
| Yield on Cost 5y | 5.18% |
| Yield CAGR 5y | 4.39% |
| Payout Consistency | 98.6% |
| Payout Ratio | 39.8% |
| Risk via 5d forecast | |
|---|---|
| Volatility | 22.4% |
| Value at Risk 5%th | 35.3% |
| Relative Tail Risk | -4.29% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.73 |
| Alpha | -23.00 |
| CAGR/Max DD | -0.01 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.638 |
| Beta | 0.296 |
| Beta Downside | 0.461 |
| Drawdowns 3y | |
|---|---|
| Max DD | 27.61% |
| Mean DD | 11.12% |
| Median DD | 9.61% |
Description: SHL Siemens Healthineers December 03, 2025
Siemens Healthineers AG (XETRA: SHL) is a German-based medical-technology group that sells diagnostic and therapeutic equipment and services worldwide through four operating segments: Imaging (MRI, CT, X-ray, molecular imaging, ultrasound), Diagnostics (in-vitro tests, lab workflow and informatics), Varian (cancer-care platforms, digital oncology solutions) and Advanced Therapies (image-guided minimally invasive tools for cardiology, interventional radiology and surgery). The company also monetises a suite of post-sale services-including maintenance, performance management, training, financing and digital-health consulting-and maintains a strategic AI partnership with Carna Health to develop chronic-kidney-disease screening tools for underserved markets.
In FY 2023 the firm generated €21.3 billion of revenue, with the Imaging segment contributing roughly 45 % and delivering a 5 % year-over-year growth rate, driven by renewed hospital capital-expenditure cycles and the rollout of AI-enhanced imaging software. The Diagnostics segment posted an operating margin of 13 %, reflecting strong demand for point-of-care testing amid a global push for faster disease detection. A key macro driver is the aging population in Europe and North America, which is expanding the total addressable market for both imaging and oncology solutions; however, the outlook remains sensitive to currency fluctuations and potential supply-chain constraints in semiconductor components.
If you want a data-rich, unbiased deep-dive on SHL’s valuation assumptions and scenario analysis, the ValueRay platform offers a transparent framework worth exploring.
Piotroski VR‑10 (Strict, 0-10) 8.5
| Net Income (2.14b TTM) > 0 and > 6% of Revenue (6% = 1.40b TTM) |
| FCFTA 0.05 (>2.0%) and ΔFCFTA 1.26pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 6.22% (prev 12.83%; Δ -6.61pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.07 (>3.0%) and CFO 3.08b > Net Income 2.14b (YES >=105%, WARN >=100%) |
| Net Debt (12.89b) to EBITDA (4.58b) ratio: 2.81 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.11 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (1.12b) change vs 12m ago -0.23% (target <= -2.0% for YES) |
| Gross Margin 38.63% (prev 37.87%; Δ 0.76pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 51.70% (prev 48.56%; Δ 3.14pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 7.75 (EBITDA TTM 4.58b / Interest Expense TTM 424.0m) >= 6 (WARN >= 3) |
Altman Z'' 1.05
| (A) 0.03 = (Total Current Assets 14.10b - Total Current Liabilities 12.64b) / Total Assets 44.37b |
| (B) 0.07 = Retained Earnings (Balance) 3.24b / Total Assets 44.37b |
| (C) 0.07 = EBIT TTM 3.29b / Avg Total Assets 45.21b |
| (D) 0.10 = Book Value of Equity 2.69b / Total Liabilities 26.28b |
| Total Rating: 1.05 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 75.02
| 1. Piotroski 8.50pt |
| 2. FCF Yield 3.67% |
| 3. FCF Margin 9.69% |
| 4. Debt/Equity 0.83 |
| 5. Debt/Ebitda 2.81 |
| 6. ROIC - WACC (= 8.15)% |
| 7. RoE 11.56% |
| 8. Rev. Trend 55.92% |
| 9. EPS Trend 24.90% |
What is the price of SHL shares?
Over the past week, the price has changed by +2.47%, over one month by +6.25%, over three months by -7.15% and over the past year by -16.06%.
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 | 57.1 | 28.6% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 45.5 | 2.5% |
SHL Fundamental Data Overview December 09, 2025
Market Cap EUR = 48.80b (48.80b EUR * 1.0 EUR.EUR)
P/E Trailing = 22.7801
P/E Forward = 15.949
P/S = 2.0877
P/B = 2.6936
P/EG = 1.4489
Beta = 0.852
Revenue TTM = 23.38b EUR
EBIT TTM = 3.29b EUR
EBITDA TTM = 4.58b EUR
Long Term Debt = 10.84b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 3.72b EUR (from shortTermDebt, last quarter)
Debt = 15.06b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 12.89b EUR (from netDebt column, last quarter)
Enterprise Value = 61.69b EUR (48.80b + Debt 15.06b - CCE 2.17b)
Interest Coverage Ratio = 7.75 (Ebit TTM 3.29b / Interest Expense TTM 424.0m)
FCF Yield = 3.67% (FCF TTM 2.27b / Enterprise Value 61.69b)
FCF Margin = 9.69% (FCF TTM 2.27b / Revenue TTM 23.38b)
Net Margin = 9.17% (Net Income TTM 2.14b / Revenue TTM 23.38b)
Gross Margin = 38.63% ((Revenue TTM 23.38b - Cost of Revenue TTM 14.35b) / Revenue TTM)
Gross Margin QoQ = 37.55% (prev 38.52%)
Tobins Q-Ratio = 1.39 (Enterprise Value 61.69b / Total Assets 44.37b)
Interest Expense / Debt = 0.72% (Interest Expense 108.0m / Debt 15.06b)
Taxrate = 22.47% (173.0m / 770.0m)
NOPAT = 2.55b (EBIT 3.29b * (1 - 22.47%))
Current Ratio = 1.11 (Total Current Assets 14.10b / Total Current Liabilities 12.64b)
Debt / Equity = 0.83 (Debt 15.06b / totalStockholderEquity, last quarter 18.04b)
Debt / EBITDA = 2.81 (Net Debt 12.89b / EBITDA 4.58b)
Debt / FCF = 5.69 (Net Debt 12.89b / FCF TTM 2.27b)
Total Stockholder Equity = 18.54b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.83% (Net Income 2.14b / Total Assets 44.37b)
RoE = 11.56% (Net Income TTM 2.14b / Total Stockholder Equity 18.54b)
RoCE = 11.19% (EBIT 3.29b / Capital Employed (Equity 18.54b + L.T.Debt 10.84b))
RoIC = 13.71% (NOPAT 2.55b / Invested Capital 18.59b)
WACC = 5.56% (E(48.80b)/V(63.86b) * Re(7.11%) + D(15.06b)/V(63.86b) * Rd(0.72%) * (1-Tc(0.22)))
Discount Rate = 7.11% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -100.0 | Cagr: -0.74%
[DCF Debug] Terminal Value 81.43% ; FCFE base≈2.07b ; Y1≈2.55b ; Y5≈4.35b
Fair Price DCF = 66.30 (DCF Value 74.04b / Shares Outstanding 1.12b; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 24.90 | EPS CAGR: 5.82% | SUE: -0.16 | # QB: 0
Revenue Correlation: 55.92 | Revenue CAGR: 6.07% | SUE: -1.12 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.57 | Chg30d=-0.033 | Revisions Net=+0 | Analysts=2
EPS current Year (2026-09-30): EPS=2.41 | Chg30d=-0.102 | Revisions Net=-12 | Growth EPS=+1.0% | Growth Revenue=+3.6%
EPS next Year (2027-09-30): EPS=2.73 | Chg30d=-0.108 | Revisions Net=-11 | Growth EPS=+13.2% | Growth Revenue=+6.2%