Financials Siemens Healthineers AG

Equities

SHL

DE000SHL1006

Advanced Medical Equipment & Technology

Market Closed - Xetra 11:35:11 2024-04-26 am EDT 5-day change 1st Jan Change
52.94 EUR +1.22% Intraday chart for Siemens Healthineers AG +4.21% +0.65%

Valuation

Fiscal Period: Settembre 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 36,067 41,088 63,053 49,516 53,731 59,070 - -
Enterprise Value (EV) 1 39,241 45,979 74,121 61,565 68,749 70,772 69,408 67,597
P/E ratio 23 x 27.4 x 35.8 x 24.5 x 35.8 x 28.9 x 23 x 19.1 x
Yield 2.22% 2.09% 1.51% 1.92% 1.98% 1.94% 2.39% 2.68%
Capitalization / Revenue 2.48 x 2.84 x 3.5 x 2.28 x 2.48 x 2.6 x 2.43 x 2.28 x
EV / Revenue 2.7 x 3.18 x 4.12 x 2.84 x 3.17 x 3.11 x 2.85 x 2.6 x
EV / EBITDA 13.4 x 16.4 x 20.5 x 14.4 x 18.6 x 15.2 x 12.9 x 11.3 x
EV / FCF 37.8 x 33.5 x 32.8 x 37.3 x 53.7 x 27.1 x 24.1 x 20.4 x
FCF Yield 2.65% 2.98% 3.05% 2.68% 1.86% 3.69% 4.15% 4.91%
Price to Book 3.69 x 3.07 x 3.79 x 2.51 x 2.96 x 3.12 x 2.9 x 2.69 x
Nbr of stocks (in thousands) 999,223 1,072,798 1,122,335 1,118,252 1,119,394 1,115,788 - -
Reference price 2 36.10 38.30 56.18 44.28 48.00 52.94 52.94 52.94
Announcement Date 11/4/19 11/2/20 11/4/21 11/9/22 11/8/23 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 14,518 14,460 17,997 21,714 21,680 22,749 24,338 25,949
EBITDA 1 2,920 2,796 3,612 4,269 3,692 4,648 5,380 5,963
EBIT 1 2,300 2,230 3,142 3,655 3,081 3,535 4,150 4,752
Operating Margin 15.84% 15.42% 17.46% 16.83% 14.21% 15.54% 17.05% 18.31%
Earnings before Tax (EBT) 1 2,193 1,954 2,404 2,800 1,928 2,853 3,517 4,179
Net income 1 1,567 1,411 1,727 2,038 1,509 2,050 2,576 3,114
Net margin 10.79% 9.76% 9.6% 9.39% 6.96% 9.01% 10.59% 12%
EPS 2 1.570 1.400 1.570 1.810 1.340 1.832 2.299 2.771
Free Cash Flow 1 1,038 1,371 2,259 1,652 1,281 2,610 2,882 3,317
FCF margin 7.15% 9.48% 12.55% 7.61% 5.91% 11.48% 11.84% 12.78%
FCF Conversion (EBITDA) 35.55% 49.03% 62.54% 38.7% 34.7% 56.16% 53.56% 55.62%
FCF Conversion (Net income) 66.24% 97.17% 130.8% 81.06% 84.89% 127.32% 111.85% 106.53%
Dividend per Share 2 0.8000 0.8000 0.8500 0.8500 0.9500 1.025 1.265 1.419
Announcement Date 11/4/19 11/2/20 11/4/21 11/9/22 11/8/23 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: September 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 5,164 5,068 5,460 10,528 5,186 6,000 5,077 5,346 5,201 6,056 5,176 5,457 5,521 6,486 - -
EBITDA 1 - - 1,116 - 938 1,211 - - - - 885 1,037 1,091 1,366 - -
EBIT 1 793 898 980 1,879 765 1,011 647 681 740 1,013 742 856.8 874.9 1,202 - -
Operating Margin 15.36% 17.72% 17.95% 17.85% 14.75% 16.85% 12.74% 12.74% 14.23% 16.73% 14.34% 15.7% 15.85% 18.53% - -
Earnings before Tax (EBT) 1 - 661 - - - - - - - - 543 574.7 637.4 865.7 - -
Net income 1 462 466 579 - 363 630 421 105 451 537 431 538.3 544.2 644.1 - -
Net margin 8.95% 9.19% 10.6% - 7% 10.5% 8.29% 1.96% 8.67% 8.87% 8.33% 9.86% 9.86% 9.93% - -
EPS 2 0.4100 0.4100 0.5100 - 0.3200 0.5600 0.3800 0.4700 0.4000 0.4800 0.3800 0.4735 0.4787 0.5867 - -
Dividend per Share 2 0.8500 - - - - 0.8500 - - - 0.9500 - - - 1.053 - -
Announcement Date 11/4/21 2/3/22 5/4/22 5/4/22 8/3/22 11/9/22 2/2/23 5/16/23 8/2/23 11/8/23 2/1/24 - - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 3,174 4,891 11,068 12,049 15,018 11,702 10,338 8,527
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.087 x 1.749 x 3.064 x 2.822 x 4.068 x 2.518 x 1.921 x 1.43 x
Free Cash Flow 1 1,038 1,371 2,259 1,652 1,281 2,610 2,882 3,317
ROE (net income / shareholders' equity) 17% 14.3% 15.5% 14.3% 12.8% 13.2% 14.8% 15.7%
ROA (Net income/ Total Assets) 7.61% 6.07% 6.64% 5.65% 4.72% 4.82% 5.76% 6.48%
Assets 1 20,594 23,262 26,009 36,049 32,002 42,566 44,760 48,082
Book Value Per Share 2 9.790 12.50 14.80 17.70 16.20 17.00 18.20 19.60
Cash Flow per Share 2 1.620 1.910 2.670 2.220 1.880 3.310 3.480 3.830
Capex 1 579 557 674 852 838 922 957 1,030
Capex / Sales 3.99% 3.85% 3.75% 3.92% 3.87% 4.05% 3.93% 3.97%
Announcement Date 11/4/19 11/2/20 11/4/21 11/9/22 11/8/23 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
20
Last Close Price
52.94 EUR
Average target price
60.33 EUR
Spread / Average Target
+13.96%
Consensus
  1. Stock Market
  2. Equities
  3. SHL Stock
  4. Financials Siemens Healthineers AG