Siemens Healthineers (DE:SHL)
OTHER OTC:SHL
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Siemens Healthineers AG
(OTC:SHL)
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Rating:62Neutral
Price Target:
€37.00
▼(-4.91% Downside)
Action:Reiterated
Date:06/06/26
The score is driven by solid profitability and acceptable valuation, offset by a sharp TTM revenue decline and a technically weak price trend (below key moving averages with negative MACD). Meaningful leverage further limits flexibility if growth remains soft.
Positive Factors
Consistent Profitability
Sustained mid-to-high margins and steady net income margins provide durable internal funding for R&D, service networks and product upgrades. Stable profitability supports reinvestment and operational resilience across healthcare cycles, preserving competitive positioning over months.
Negative Factors
Sharp Revenue Contraction
A large year-on-year revenue drop materially weakens the firm's top-line base that supports consumables, service attach rates and software upsells. Prolonged volume declines can erode scale economics, pressure margins, and constrain R&D or service expansion over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Profitability
Sustained mid-to-high margins and steady net income margins provide durable internal funding for R&D, service networks and product upgrades. Stable profitability supports reinvestment and operational resilience across healthcare cycles, preserving competitive positioning over months.
Read all positive factors
Siemens Healthineers AG (SHL) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€38.87B
Dividend Yield2.13%
Average Volume (3M)1.13M
Price to Earnings (P/E)18.7
Beta (1Y)1.09
Revenue Growth-0.33%
EPS Growth0.15%
CountryDE
Employees72,000
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)1.87
Shares Outstanding1,128,000,000
10 Day Avg. Volume1,316,140
30 Day Avg. Volume1,130,706
Financial Highlights & Ratios
PEG Ratio2.46
Price to Book (P/B)2.86
Price to Sales (P/S)2.20
P/FCF Ratio22.75
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€48.46Price Target Upside24.54% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering13
EPS Forecast (FY)2.25
Revenue Forecast (FY)€23.72B
Siemens Healthineers AG Business Overview & Revenue Model
Company Description
Siemens Healthineers AG, through its subsidiaries, develops, manufactures, and sells a range of diagnostic and therapeutic products and services to healthcare providers worldwide. The company operates through four segments: Imaging, Diagnostics, V...
How the Company Makes Money
Siemens Healthineers primarily makes money by selling medical technology products and by providing recurring services and software to healthcare providers and related customers. Key revenue streams include: (1) Equipment and system sales: one-time...
Siemens Healthineers AG Earnings Call Summary
Earnings Call Date:Feb 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 31, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive operational story anchored by strong performance in Imaging and Precision Therapy—robust growth, margin expansion, product innovation and strategic milestones (Moody's rating, value partnerships). However, material near-term headwinds from Diagnostics in China, tariffs and foreign exchange created meaningful revenue and profit pressure and lowered short-term visibility (Q2 growth expected below guidance). Overall, strengths in the synergistic core were sufficient for management to confirm the full-year outlook, leaving the tone constructive but with clear risks to monitor in Diagnostics and macro/trade-related headwinds.Positive Updates
Strong start to FY2026 with confirmed outlook
Company reported a good start to fiscal 2026 and confirmed its full-year revenue and adjusted EPS outlook, driven by strong operational performance in core businesses.
Negative Updates
Diagnostics headwinds in China
Diagnostics revenue declined ~3% in Q1 overall, primarily driven by material structural changes in China: volume-based procurement (VBP) and reimbursement reductions. China declined ~5% overall, with Diagnostics exposure in China causing significant revenue and profit pressure.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong start to FY2026 with confirmed outlook
Company reported a good start to fiscal 2026 and confirmed its full-year revenue and adjusted EPS outlook, driven by strong operational performance in core businesses.
Read all positive updates
Company Guidance
Management confirmed its fiscal‑2026 outlook for both revenue growth and adjusted EPS, noting Q1 dynamics where Imaging and Precision Therapy grew ~6% combined (Imaging +5.7%, Precision Therapy +5.9%, Varian +9%) while Diagnostics fell ~3%, resulting in ~3.8% group revenue growth; adjusted EBIT margin was 15% (flat y/y) but expanded operationally ~200 bps ex tariffs/FX (Imaging margin 21.6% with >100 bps operational expansion; Precision Therapy ~400 bps operational expansion, aided by ~100 bps special item); adjusted EPS was down ~3% (~€0.02), yet removing FX (~$0.04 in Q1; ~€0.15 FY) and tariffs (~€0.06 in Q1; ~€0.15 FY) implies ~€0.08 operational EPS improvement in Q1 toward a targeted ~€0.25 FY operational EPS uplift; management expects to fully mitigate tariffs over three years, but cautioned Q2 group revenue will be below the 5–6% outlook range with Diagnostics in China declining further (tough comps), Imaging growth in Q2 around mid‑single digits and Precision Therapy mid‑ to high‑single digits, and margins in Q2 below prior‑year levels due to tariffs and FX.Siemens Healthineers AG Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
68
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 23.07B | 23.38B | 22.36B | 21.68B | 21.71B | 18.00B |
| Gross Profit | 8.77B | 9.03B | 8.47B | 7.71B | 8.14B | 6.95B |
| EBITDA | 4.42B | 4.58B | 4.22B | 3.78B | 4.26B | 3.52B |
| Net Income | 2.10B | 2.14B | 1.94B | 1.51B | 2.04B | 1.73B |
Balance Sheet | ||||||
| Total Assets | 44.81B | 44.37B | 46.05B | 46.68B | 49.06B | 41.93B |
| Cash, Cash Equivalents and Short-Term Investments | 1.91B | 2.17B | 2.68B | 1.64B | 1.44B | 1.32B |
| Total Debt | 15.32B | 15.06B | 16.21B | 16.65B | 16.65B | 14.31B |
| Total Liabilities | 26.55B | 26.28B | 27.81B | 28.55B | 29.20B | 25.87B |
| Stockholders Equity | 18.21B | 18.04B | 18.20B | 18.08B | 19.84B | 16.04B |
Cash Flow | ||||||
| Free Cash Flow | 2.01B | 2.27B | 1.77B | 971.00M | 1.40B | 2.11B |
| Operating Cash Flow | 2.81B | 3.08B | 2.47B | 1.81B | 2.26B | 2.78B |
| Investing Cash Flow | -730.00M | -906.00M | -666.00M | -1.07B | -868.00M | -14.14B |
| Financing Cash Flow | -2.50B | -2.59B | -1.30B | -380.00M | -1.40B | 11.99B |
Siemens Healthineers AG Technical Analysis
Neutral
38.91
Price Trends
35.54
Negative
38.27
Negative
41.53
Negative
Market Momentum
-0.30
Negative
50.41
Neutral
39.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:SHL, the sentiment is Neutral. The current price of 38.91 is above the 20-day moving average (MA) of 34.28, above the 50-day MA of 35.54, and below the 200-day MA of 41.53, indicating a neutral trend. The MACD of -0.30 indicates Negative momentum. The RSI at 50.41 is Neutral, neither overbought nor oversold. The STOCH value of 39.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for DE:SHL.
Siemens Healthineers AG Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | €1.52B | 11.18 | 9.79% | 3.46% | 4.23% | 32.89% | |
71 Outperform | €968.02M | 19.58 | 20.26% | 1.11% | 6.84% | 43.33% | |
70 Outperform | €59.50B | 23.49 | 8.77% | 1.82% | -1.69% | -10.15% | |
62 Neutral | €38.87B | 18.69 | 11.59% | 2.13% | -0.33% | 0.15% | |
57 Neutral | €10.15B | 11.12 | 7.16% | 3.54% | -0.69% | 55.62% | |
55 Neutral | €14.72B | 100.46 | 6.05% | 0.39% | 3.20% | 70.35% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
DE:SHL
Siemens Healthineers AG
34.84
-10.67
-23.45%
DE:DRW8
Draegerwerk AG & Co. KGaA
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17.54
31.74%
DE:EUZ
Eckert & Ziegler Strahlen und Medizintechnik
15.47
-6.61
-29.93%
DE:FME
Fresenius Medical Care AG & Co. KGaA
38.18
-9.99
-20.75%
DE:MRK
Merck KGaA
136.85
23.23
20.44%
DE:SRT
Sartorius
189.20
23.52
14.20%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.