Financials Siemens AG

Equities

SIE

DE0007236101

Electrical Components & Equipment

Real-time Estimate Tradegate 10:33:21 2024-03-01 am EST 5-day change 1st Jan Change
181.6 EUR -0.73% Intraday chart for Siemens AG +3.62% +6.90%

Valuation

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 77,645 85,907 113,299 79,905 107,367 143,522 - -
Enterprise Value (EV) 1 100,432 116,433 152,454 120,076 143,879 177,845 174,287 171,269
P/E ratio 15.5 x 21.9 x 18.7 x 22 x 13.7 x 17.8 x 16.3 x 14.4 x
Yield 3.97% 3.24% 2.82% 4.2% 3.46% 2.71% 2.9% 3.19%
Capitalization / Revenue 0.89 x 1.5 x 1.82 x 1.11 x 1.38 x 1.77 x 1.68 x 1.58 x
EV / Revenue 1.16 x 2.04 x 2.45 x 1.67 x 1.85 x 2.19 x 2.04 x 1.89 x
EV / EBITDA 9.49 x 15.3 x 16.8 x 11.2 x 10.2 x 11.9 x 10.8 x 9.71 x
EV / FCF 17.2 x 16 x 18.2 x 14.2 x 14.4 x 21.6 x 17.5 x 16.1 x
FCF Yield 5.82% 6.24% 5.49% 7.02% 6.96% 4.63% 5.73% 6.21%
Price to Book 1.65 x 2.39 x 2.56 x 1.68 x 2.24 x 2.84 x 2.6 x 2.39 x
Nbr of stocks (in thousands) 790,281 796,319 798,333 789,577 791,442 784,529 - -
Reference price 2 98.25 107.9 141.9 101.2 135.7 182.9 182.9 182.9
Announcement Date 11/7/19 11/12/20 11/11/21 11/17/22 11/16/23 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 86,849 57,139 62,265 71,977 77,769 81,113 85,497 90,681
EBITDA 1 10,582 7,601 9,091 10,759 14,163 14,929 16,130 17,643
EBIT 1 6,888 5,040 6,494 9,285 9,649 11,662 12,684 13,961
Operating Margin 7.93% 8.82% 10.43% 12.9% 12.41% 14.38% 14.84% 15.4%
Earnings before Tax (EBT) 1 7,518 5,672 7,496 7,154 11,201 12,155 13,344 14,760
Net income 1 5,174 4,030 6,161 3,723 7,949 8,234 8,910 9,868
Net margin 5.96% 7.05% 9.89% 5.17% 10.22% 10.15% 10.42% 10.88%
EPS 2 6.320 4.930 7.590 4.590 9.910 10.30 11.24 12.68
Free Cash Flow 1 5,846 7,261 8,364 8,433 10,021 8,233 9,978 10,631
FCF margin 6.73% 12.71% 13.43% 11.72% 12.89% 10.15% 11.67% 11.72%
FCF Conversion (EBITDA) 55.24% 95.53% 92% 78.38% 70.75% 55.15% 61.86% 60.25%
FCF Conversion (Net income) 112.99% 180.17% 135.76% 226.51% 126.07% 99.99% 112% 107.73%
Dividend per Share 2 3.900 3.500 4.000 4.250 4.700 4.963 5.309 5.828
Announcement Date 11/7/19 11/12/20 11/11/21 11/17/22 11/16/23 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: September 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 17,444 16,497 17,040 17,867 20,573 18,070 19,416 18,889 21,393 18,412 19,956 19,977 22,983 19,130
EBITDA 1 2,178 3,025 2,386 3,311 4,853 2,910 3,298 2,638 3,579 - 3,199 3,252 4,135 -
EBIT 1 1,623 1,905 1,329 2,431 3,620 2,226 2,223 1,839 2,908 2,326 2,672 2,707 3,430 2,828
Operating Margin 9.3% 11.55% 7.8% 13.61% 17.6% 12.32% 11.45% 9.74% 13.59% 12.63% 13.39% 13.55% 14.92% 14.78%
Earnings before Tax (EBT) 1 1,841 2,447 1,751 -912 3,869 2,223 4,142 1,985 2,851 3,259 2,646 - - -
Net income 1 1,167 1,643 1,034 -1,655 2,701 1,477 3,476 1,278 1,718 2,389 1,821 1,906 2,357 2,138
Net margin 6.69% 9.96% 6.07% -9.26% 13.13% 8.17% 17.9% 6.77% 8.03% 12.98% 9.12% 9.54% 10.25% 11.17%
EPS 2 1.430 2.020 1.270 -2.060 3.360 1.850 4.340 1.610 2.140 2.990 2.200 2.295 2.858 2.472
Dividend per Share 2 4.000 - 4.000 - 0.2500 - - - 4.700 - - - 5.200 -
Announcement Date 11/11/21 2/10/22 5/12/22 8/11/22 11/17/22 2/8/23 5/17/23 8/10/23 11/16/23 2/8/24 - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 22,787 30,526 39,155 40,171 36,512 34,324 30,765 27,747
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.153 x 4.016 x 4.307 x 3.734 x 2.578 x 2.299 x 1.907 x 1.573 x
Free Cash Flow 1 5,846 7,261 8,364 8,433 10,021 8,233 9,978 10,631
ROE (net income / shareholders' equity) 11.1% 9.54% 15.3% 8% 16.4% 16.6% 16.8% 17.9%
ROA (Net income/ Total Assets) 3.58% 2.94% 4.46% 2.56% 5.36% 5.53% 5.74% 6.26%
Assets 1 144,582 137,075 138,220 145,430 148,286 148,807 155,111 157,652
Book Value Per Share 2 59.60 45.10 55.30 60.30 60.50 64.50 70.40 76.70
Cash Flow per Share 2 10.30 10.80 12.30 12.60 15.30 14.60 15.90 16.90
Capex 1 2,610 1,601 1,632 1,808 2,218 2,328 2,480 2,591
Capex / Sales 3.01% 2.8% 2.62% 2.51% 2.85% 2.87% 2.9% 2.86%
Announcement Date 11/7/19 11/12/20 11/11/21 11/17/22 11/16/23 - - -
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
21
Last Close Price
182.9 EUR
Average target price
187.6 EUR
Spread / Average Target
+2.57%
Consensus
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