SIEMENS HEALTHINEERS AG (SHL.DE) Fundamental Analysis & Valuation
FRA:SHL • DE000SHL1006
Current stock price
34.88 EUR
+0.93 (+2.74%)
Last:
This SHL.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
1. SHL.DE Profitability Analysis
1.1 Basic Checks
- In the past year SHL was profitable.
- SHL had a positive operating cash flow in the past year.
- SHL had positive earnings in each of the past 5 years.
- SHL had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- The Return On Assets of SHL (4.79%) is better than 68.97% of its industry peers.
- With a decent Return On Equity value of 11.50%, SHL is doing good in the industry, outperforming 77.59% of the companies in the same industry.
- Looking at the Return On Invested Capital, with a value of 7.88%, SHL is in the better half of the industry, outperforming 67.24% of the companies in the same industry.
- SHL had an Average Return On Invested Capital over the past 3 years of 6.28%. This is below the industry average of 9.43%.
- The last Return On Invested Capital (7.88%) for SHL is above the 3 year average (6.28%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.79% | ||
| ROE | 11.5% | ||
| ROIC | 7.88% |
ROA(3y)4.09%
ROA(5y)4.11%
ROE(3y)10.3%
ROE(5y)10.39%
ROIC(3y)6.28%
ROIC(5y)6.22%
1.3 Margins
- Looking at the Profit Margin, with a value of 9.10%, SHL is in the better half of the industry, outperforming 70.69% of the companies in the same industry.
- SHL's Profit Margin has been stable in the last couple of years.
- With a decent Operating Margin value of 13.49%, SHL is doing good in the industry, outperforming 65.52% of the companies in the same industry.
- In the last couple of years the Operating Margin of SHL has remained more or less at the same level.
- SHL has a Gross Margin of 38.44%. This is in the lower half of the industry: SHL underperforms 77.59% of its industry peers.
- In the last couple of years the Gross Margin of SHL has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 13.49% | ||
| PM (TTM) | 9.1% | ||
| GM | 38.44% |
OM growth 3Y0.16%
OM growth 5Y0.1%
PM growth 3Y-0.76%
PM growth 5Y-1.23%
GM growth 3Y1.02%
GM growth 5Y0.02%
2. SHL.DE Health Analysis
2.1 Basic Checks
- SHL has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
- Compared to 1 year ago, SHL has less shares outstanding
- SHL has more shares outstanding than it did 5 years ago.
- SHL has a better debt/assets ratio than last year.
2.2 Solvency
- Based on the Altman-Z score of 1.81, we must say that SHL is in the distress zone and has some risk of bankruptcy.
- SHL has a worse Altman-Z score (1.81) than 63.79% of its industry peers.
- The Debt to FCF ratio of SHL is 6.56, which is on the high side as it means it would take SHL, 6.56 years of fcf income to pay off all of its debts.
- SHL's Debt to FCF ratio of 6.56 is in line compared to the rest of the industry. SHL outperforms 53.45% of its industry peers.
- SHL has a Debt/Equity ratio of 0.53. This is a neutral value indicating SHL is somewhat dependend on debt financing.
- SHL has a Debt to Equity ratio of 0.53. This is in the lower half of the industry: SHL underperforms 63.79% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.53 | ||
| Debt/FCF | 6.56 | ||
| Altman-Z | 1.81 |
ROIC/WACC1.29
WACC6.13%
2.3 Liquidity
- A Current Ratio of 1.04 indicates that SHL should not have too much problems paying its short term obligations.
- The Current ratio of SHL (1.04) is worse than 74.14% of its industry peers.
- A Quick Ratio of 0.72 indicates that SHL may have some problems paying its short term obligations.
- The Quick ratio of SHL (0.72) is worse than 72.41% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.04 | ||
| Quick Ratio | 0.72 |
3. SHL.DE Growth Analysis
3.1 Past
- SHL shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 1.33%.
- The Earnings Per Share has been growing by 11.29% on average over the past years. This is quite good.
- Looking at the last year, SHL shows a small growth in Revenue. The Revenue has grown by 2.76% in the last year.
- Measured over the past years, SHL shows a quite strong growth in Revenue. The Revenue has been growing by 10.08% on average per year.
EPS 1Y (TTM)1.33%
EPS 3Y1.29%
EPS 5Y11.29%
EPS Q2Q%-21.57%
Revenue 1Y (TTM)2.76%
Revenue growth 3Y2.49%
Revenue growth 5Y10.08%
Sales Q2Q%-1.46%
3.2 Future
- Based on estimates for the next years, SHL will show a quite strong growth in Earnings Per Share. The EPS will grow by 8.02% on average per year.
- The Revenue is expected to grow by 4.77% on average over the next years.
EPS Next Y-2.64%
EPS Next 2Y5.26%
EPS Next 3Y7.63%
EPS Next 5Y8.02%
Revenue Next Year1.79%
Revenue Next 2Y3.93%
Revenue Next 3Y4.65%
Revenue Next 5Y4.77%
3.3 Evolution
- The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
- The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. SHL.DE Valuation Analysis
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 15.30 indicates a correct valuation of SHL.
- Compared to the rest of the industry, the Price/Earnings ratio of SHL indicates a rather cheap valuation: SHL is cheaper than 86.21% of the companies listed in the same industry.
- SHL's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.51.
- Based on the Price/Forward Earnings ratio of 13.17, the valuation of SHL can be described as correct.
- SHL's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. SHL is cheaper than 75.86% of the companies in the same industry.
- The average S&P500 Price/Forward Earnings ratio is at 21.41. SHL is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.3 | ||
| Fwd PE | 13.17 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, SHL is valued a bit cheaper than 65.52% of the companies in the same industry.
- Based on the Price/Free Cash Flow ratio, SHL is valued cheaper than 81.03% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 17.6 | ||
| EV/EBITDA | 11.5 |
4.3 Compensation for Growth
- The decent profitability rating of SHL may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.36
EPS Next 2Y5.26%
EPS Next 3Y7.63%
5. SHL.DE Dividend Analysis
5.1 Amount
- SHL has a Yearly Dividend Yield of 2.87%. Purely for dividend investing, there may be better candidates out there.
- SHL's Dividend Yield is rather good when compared to the industry average which is at 1.41. SHL pays more dividend than 81.03% of the companies in the same industry.
- Compared to an average S&P500 Dividend Yield of 1.80, SHL pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.87% |
5.2 History
- The dividend of SHL has a limited annual growth rate of 4.38%.
Dividend Growth(5Y)4.38%
Div Incr Years1
Div Non Decr Years7
5.3 Sustainability
- SHL pays out 50.31% of its income as dividend. This is a bit on the high side, but may be sustainable.
- SHL's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP50.31%
EPS Next 2Y5.26%
EPS Next 3Y7.63%
SHL.DE Fundamentals: All Metrics, Ratios and Statistics
FRA:SHL (4/30/2026, 7:00:00 PM)
34.88
+0.93 (+2.74%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Industry Strength35.81
Industry Growth68
Earnings (Last)02-05 2026-02-05/dmh
Earnings (Next)05-07 2026-05-07
Inst Owners13.8%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap39.34B
Revenue(TTM)23.30B
Net Income(TTM)2.12B
Analysts79.29
Price Target53.05 (52.09%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.87% |
Yearly Dividend0.95
Dividend Growth(5Y)4.38%
DP50.31%
Div Incr Years1
Div Non Decr Years7
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-8.86%
Min EPS beat(2)-13.74%
Max EPS beat(2)-3.98%
EPS beat(4)1
Avg EPS beat(4)-1.6%
Min EPS beat(4)-13.74%
Max EPS beat(4)13.36%
EPS beat(8)4
Avg EPS beat(8)1.31%
EPS beat(12)6
Avg EPS beat(12)0.88%
EPS beat(16)9
Avg EPS beat(16)1.56%
Revenue beat(2)1
Avg Revenue beat(2)-1.97%
Min Revenue beat(2)-4.1%
Max Revenue beat(2)0.15%
Revenue beat(4)2
Avg Revenue beat(4)-1.11%
Min Revenue beat(4)-4.1%
Max Revenue beat(4)0.27%
Revenue beat(8)3
Avg Revenue beat(8)-1.06%
Revenue beat(12)4
Avg Revenue beat(12)-0.67%
Revenue beat(16)7
Avg Revenue beat(16)-0.39%
PT rev (1m)-3.45%
PT rev (3m)-6.29%
EPS NQ rev (1m)-0.61%
EPS NQ rev (3m)-8.02%
EPS NY rev (1m)0.75%
EPS NY rev (3m)-1.92%
Revenue NQ rev (1m)-0.81%
Revenue NQ rev (3m)-2.08%
Revenue NY rev (1m)0.02%
Revenue NY rev (3m)-1.01%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.3 | ||
| Fwd PE | 13.17 | ||
| P/S | 1.69 | ||
| P/FCF | 17.6 | ||
| P/OCF | 12.93 | ||
| P/B | 2.13 | ||
| P/tB | N/A | ||
| EV/EBITDA | 11.5 |
EPS(TTM)2.28
EY6.54%
EPS(NY)2.65
Fwd EY7.59%
FCF(TTM)1.98
FCFY5.68%
OCF(TTM)2.7
OCFY7.74%
SpS20.65
BVpS16.34
TBVpS-4.52
PEG (NY)N/A
PEG (5Y)1.36
Graham Number28.9504 (-17%)
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.79% | ||
| ROE | 11.5% | ||
| ROCE | 10.26% | ||
| ROIC | 7.88% | ||
| ROICexc | 8.62% | ||
| ROICexgc | 53.82% | ||
| OM | 13.49% | ||
| PM (TTM) | 9.1% | ||
| GM | 38.44% | ||
| FCFM | 9.59% |
ROA(3y)4.09%
ROA(5y)4.11%
ROE(3y)10.3%
ROE(5y)10.39%
ROIC(3y)6.28%
ROIC(5y)6.22%
ROICexc(3y)6.75%
ROICexc(5y)6.62%
ROICexgc(3y)33.94%
ROICexgc(5y)34.43%
ROCE(3y)8.18%
ROCE(5y)8.09%
ROICexgc growth 3Y11.98%
ROICexgc growth 5Y11.06%
ROICexc growth 3Y9.08%
ROICexc growth 5Y-1.26%
OM growth 3Y0.16%
OM growth 5Y0.1%
PM growth 3Y-0.76%
PM growth 5Y-1.23%
GM growth 3Y1.02%
GM growth 5Y0.02%
F-Score7
Asset Turnover0.53
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.53 | ||
| Debt/FCF | 6.56 | ||
| Debt/EBITDA | 2.22 | ||
| Cap/Depr | 62.76% | ||
| Cap/Sales | 3.47% | ||
| Interest Coverage | 7.31 | ||
| Cash Conversion | 68.7% | ||
| Profit Quality | 105.47% | ||
| Current Ratio | 1.04 | ||
| Quick Ratio | 0.72 | ||
| Altman-Z | 1.81 |
F-Score7
WACC6.13%
ROIC/WACC1.29
Cap/Depr(3y)57.95%
Cap/Depr(5y)60.43%
Cap/Sales(3y)3.49%
Cap/Sales(5y)3.63%
Profit Quality(3y)107.05%
Profit Quality(5y)106.62%
High Growth Momentum
Growth
EPS 1Y (TTM)1.33%
EPS 3Y1.29%
EPS 5Y11.29%
EPS Q2Q%-21.57%
EPS Next Y-2.64%
EPS Next 2Y5.26%
EPS Next 3Y7.63%
EPS Next 5Y8.02%
Revenue 1Y (TTM)2.76%
Revenue growth 3Y2.49%
Revenue growth 5Y10.08%
Sales Q2Q%-1.46%
Revenue Next Year1.79%
Revenue Next 2Y3.93%
Revenue Next 3Y4.65%
Revenue Next 5Y4.77%
EBIT growth 1Y7.86%
EBIT growth 3Y2.65%
EBIT growth 5Y10.19%
EBIT Next Year31.85%
EBIT Next 3Y17.07%
EBIT Next 5Y12.82%
FCF growth 1Y40.04%
FCF growth 3Y18%
FCF growth 5Y14.63%
OCF growth 1Y28.66%
OCF growth 3Y12.15%
OCF growth 5Y12.87%
SIEMENS HEALTHINEERS AG / SHL.DE Fundamental Analysis FAQ
What is the fundamental rating for SHL stock?
ChartMill assigns a fundamental rating of 5 / 10 to SHL.DE.
Can you provide the valuation status for SIEMENS HEALTHINEERS AG?
ChartMill assigns a valuation rating of 6 / 10 to SIEMENS HEALTHINEERS AG (SHL.DE). This can be considered as Fairly Valued.
What is the profitability of SHL stock?
SIEMENS HEALTHINEERS AG (SHL.DE) has a profitability rating of 6 / 10.
What is the earnings growth outlook for SIEMENS HEALTHINEERS AG?
The Earnings per Share (EPS) of SIEMENS HEALTHINEERS AG (SHL.DE) is expected to decline by -2.64% in the next year.
Is the dividend of SIEMENS HEALTHINEERS AG sustainable?
The dividend rating of SIEMENS HEALTHINEERS AG (SHL.DE) is 7 / 10 and the dividend payout ratio is 50.31%.