Siemens Healthineers AG (SHL) Fair Value & Analysis
Healthcare · DE · Market cap €38.5B · ISIN DE000SHL1006
What is Siemens Healthineers AG really worth?
A solid business, but trading 15% above our fair value of €33.87.
Strengths
Risks
For context
Fair value as of: Aug 29, 2026
From 26 valuation models · updated 7 days ago
Share price −0.6% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The model range is unusually wide (€17.88 to €52.68). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.
How to read this chart
60‑month range €33.40 – €61.22 · fair‑value band €17.88 – €52.68 · the €39.00 price screens above the €33.87 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.
Analysis
Siemens Healthineers AG (SHL) currently trades at €39.00, while our model-based Fair Value estimate is €33.87, implying the stock looks roughly 15.1% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Healthcare sector. Bull case: the Growth Earnings group reads highest at a median of €36.70 per share, and 6 of the 26 models we run sit above the €39.00 price. Bear case: the Asset-Based group reads lowest at €10.80, and 20 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Siemens Healthineers AG generated revenue of €23.1B at a net margin of 9.1%. Revenue declined 3.9% year over year. It earns a return on equity of 11.5%. Net debt stands at €12.9B. Fundamentals as of Aug 29, 2026
Our scenario range runs from €17.88 (bear case) to €52.68 (bull case); at €39.00, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 20% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −34% fair-value upside, at −13%, SHL screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 11 months have passed since. In that time the company retained roughly €0.7987 per share, which is 2.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: Growth Earnings (€36.70) versus Asset-Based (€10.80). Highest evidence: FCF DCF (78).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 59 · Market factors (momentum, volatility) 47
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Siemens Healthineers AG, through its subsidiaries, develops, manufactures, and sells a range of diagnostic and therapeutic products and services to healthcare providers in Germany, the United States, rest of Europe, CIS, Africa, the Middle East, the Americas, the Asia Pacific, Japan, and China.
Full company description
Siemens Healthineers AG, through its subsidiaries, develops, manufactures, and sells a range of diagnostic and therapeutic products and services to healthcare providers in Germany, the United States, rest of Europe, CIS, Africa, the Middle East, the Americas, the Asia Pacific, Japan, and China. It operates in four segments: Imaging, Diagnostics, Varian, and Advanced Therapies. The Imaging segment offers magnetic resonance imaging, computed tomography, X-ray, molecular imaging, and ultrasound systems; and software solutions to support the reading and structured reporting of diagnostic images from different modalities. Its Diagnostics segment provides in-vitro diagnostic products and services to healthcare providers in the fields of general and specialty laboratory, and point-of-care diagnostics; and workflow solutions for laboratories and informatics products. The Varian segment offers microwave, cryoablation, and embolization technologies, as well as clinical professional services for cancer care that support oncology departments in hospitals and clinics; and customized support for cancer care operations. Its Advanced Therapies segment provides products that are designed to support image-guided minimally invasive clinical procedures in various areas, such as cardiology, neurology, and oncology; angiography systems and mobile C-arms; and AI-powered clinical applications. It also offers essential technical customer service, such as maintenance and repair; spare parts; medical equipment performance management; training; clinical education and e-learning; planning and design; financing; asset management; and managed departmental services for laboratories and healthcare facilities, as well as healthcare consulting, products, and services. The company was founded in 1896 and is headquartered in Forchheim, Germany. Siemens Healthineers AG is a subsidiary of Siemens Aktiengesellschaft.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Siemens Healthineers AG reported revenue of €23.4B in FY2025 versus €18.0B in FY2021, a compound +6.8%/yr. Reported net income was €2.1B in FY2025, compounding +5.6%/yr from FY2021.
of which total revenue +6.4 % · buybacks/dilution −1.4 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
SHL screens 15% overvalued. Compare with Abbott Laboratories, →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Digital Twins in Healthcare Global Market Report 2026 | Profiles Microsoft, Siemens Healthineers, Philips, AWS, and 21 Other Players
- Is Siemens Healthineers (XTRA:SHL) Undervalued Following Its Earnings And Guidance Update?
- Siemens Healthineers (XTRA:SHL) Stock Still Trades At A Discount To Fair Value
- Siemens Healthineers Appoints João Seabra President and Head of the Americas
Peer Group
Medical Devices · 351 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Medical Devices median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Medical Devices stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Abbott Laboratories, ABT | $112.47 | $74.79 | −34% |
| Stryker Corporation SYK | $322.12 | $186.28 | −42% |
| Medtronic plc MDT | $89.97 | $65.57 | −27% |
| Boston Scientific Corporation BSX | $46.84 | $30.73 | −34% |
| Edwards Lifesciences Corporation EW | $89.78 | $41.02 | −54% |
| DexCom, Inc DXCM | $90.82 | $38.95 | −57% |
| GE HealthCare Technologies Inc GEHC | $74.82 | $64.13 | −14% |
| Koninklijke Philips N.V PHIA | €23.69 | €14.36 | −39% |
| Shenzhen Mindray Bio-Medical Electronics Co 300760 | ¥150.63 | ¥147.63 | −2% |
| STERIS plc STE | $232.39 | $175.29 | −25% |
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