Company Valuation: Siemens AG

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 113,299 79,905 107,367 141,274 177,700 202,220 - -
Change - -29.47% 34.37% 31.58% 25.78% 13.8% - -
Enterprise Value (EV) 1 152,454 120,076 143,879 180,037 219,220 239,056 235,411 231,565
Change - -21.24% 19.82% 25.13% 21.76% 9.05% -1.52% -1.63%
P/E ratio 18.7x 22x 13.7x 17.5x 18.9x 24.8x 21.4x 19x
PBR 2.56x 1.68x 2.24x 2.79x 2.87x 3.21x 3.03x 2.73x
PEG - -0.6x 0x 3.69x 1.1x -1.9x 1.3x 1.6x
Capitalization / Revenue 1.82x 1.11x 1.38x 1.86x 2.25x 2.43x 2.28x 2.14x
EV / Revenue 2.45x 1.67x 1.85x 2.37x 2.78x 2.87x 2.66x 2.46x
EV / EBITDA 16.8x 11.2x 10.2x 13.3x 16.4x 15.7x 14x 12.5x
EV / EBIT 23.5x 12.9x 14.9x 18.8x 22.8x 19.9x 17.5x 15.5x
EV / FCF 18.2x 14.2x 14.4x 18.8x 20.3x 26.8x 22.9x 20.3x
FCF Yield 5.49% 7.02% 6.96% 5.32% 4.93% 3.73% 4.37% 4.91%
Dividend per Share 2 4 4.25 4.7 5.2 5.35 5.623 5.939 6.232
Rate of return 2.82% 4.2% 3.46% 2.87% 2.33% 2.16% 2.28% 2.39%
EPS 2 7.59 4.59 9.91 10.38 12.11 10.5 12.19 13.67
Distribution rate 52.7% 92.6% 47.4% 50.1% 44.2% 53.5% 48.7% 45.6%
Net sales 1 62,265 71,977 77,769 75,930 78,914 83,235 88,657 94,310
EBITDA 1 9,091 10,759 14,163 13,577 13,380 15,189 16,766 18,522
EBIT 1 6,494 9,285 9,649 9,593 9,594 12,024 13,484 14,979
Net income 1 6,161 3,723 7,949 8,301 9,620 8,281 9,632 10,696
Net Debt 1 39,155 40,171 36,512 38,763 41,520 36,836 33,191 29,345
Reference price 2 141.92 101.20 135.66 181.34 229.20 260.25 260.25 260.25
Nbr of stocks (in thousands) 798,333 789,577 791,442 779,054 775,303 777,020 - -
Announcement Date 11/11/21 11/17/22 11/16/23 11/14/24 11/13/25 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
24.78x2.87x15.74x2.16% 235B
29.81x3.62x17.13x1.75% 153B
32.15x5.18x21.87x1.19% 134B
47.35x5.16x25.68x0.9% 92.42B
30.52x4.98x17.29x1.47% 84.04B
49.89x6.75x31.22x0.09% 67.65B
88.05x10.43x60.16x0.35% 66.18B
33.58x6.93x21.82x0.57% 49.64B
37.26x5.58x24.08x1.3% 46.72B
27.09x3.88x16.36x1.84% 38.88B
Average 40.05x 5.54x 25.13x 1.16% 96.7B
Weighted average by Cap. 36.49x 4.88x 22.75x 1.38%
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Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield