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Siemens Aktiengesellschaft (SIE) Fair Value & Analysis

Industrials · DE · Market cap €208B · ISIN DE0007236101

What is Siemens Aktiengesellschaft really worth?

SA Siemens Aktiengesellschaft SIE · XETRA
Price€272.65
Fair Value€139.77
Upside−48.7%
Quality59/100

A solid business, but trading 95% above our fair value of €139.77.

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Strengths

Healthy Growth (revenue 5y +7.4 %/yr)
Moderate debt · generates free cash flow

Risks

!Thin margins · 9.7% net margin
!Mixed vs. peers (7/15)
!Moderate moat 51/100

For context

·1.96% dividend yield
Evidence: High Range €88.95 – €211.47

Fair value as of: Aug 29, 2026

From 24 valuation models · updated 6 days ago

Share price −4.7% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (€211.47). The favourable scenario is already priced in.
  • Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (€88.95 to €211.47) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

€289.85 €84.73 Fair Value €139.77 Jul 2021 Sep 2026

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 €84.73 – €289.85 · fair‑value band €88.95 – €211.47 · the €272.65 price screens above the €139.77 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.

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Analysis

Siemens Aktiengesellschaft (SIE) currently trades at €272.65, while our model-based Fair Value estimate is €139.77, implying the stock looks roughly 95.1% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of €200.39 per share, and 0 of the 24 models we run sit above the €272.65 price. Bear case: the Asset-Based group reads lowest at €54.68, and 24 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Siemens Aktiengesellschaft generated revenue of €79.7B at a net margin of 9.7%. It earns a return on equity of 12.6%. Net debt stands at €41.5B. The stock trades on a trailing P/E of 28.2. Fundamentals as of Aug 29, 2026

Our scenario range runs from €88.95 (bear case) to €211.47 (bull case); at €272.65, the current price sits above 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 2% below its 52-week high and 38% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −50% fair-value upside, at −49%, SIE 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 €4.00 per share, which is 2.9 % 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.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF €90.72 €140.71 €235.94 78
Growth DCF €96.19 €145.17 €231.75 77
Owner Earnings €111.53 €169.69 €280.50 75
All 24 models by family
DCF Models
FCF DCF €90.72 €140.71 €235.94 78
Owner Earnings €111.53 €169.69 €280.50 75
5Y Revenue Exit €73.63 €122.10 €191.12 71
5Y EBITDA Exit €97.60 €163.08 €247.83 74
5Y P/E Exit €119.24 €200.07 €293.97 70
10Y Revenue Exit €75.73 €119.89 €170.57 66
10Y EBITDA Exit €93.94 €147.66 €209.17 68
10Y P/E Exit €107.56 €172.72 €240.57 64
Earnings-Based
Graham-Dodd €85.76 €150.70 €185.02 66
EPV €49.90 €65.15 €78.71 74
Dividend Discount
Gordon GGM €51.62 €67.15 €83.50 69
DDM Multi-Stage €51.62 €71.36 €96.30 67
Multiples
P/E Multiple €198.64 €264.86 €331.07 63
P/S Multiple €155.19 €206.92 €258.65 58
P/B Multiple €160.81 €214.41 €268.01 55
EV/EBIT €115.47 €166.13 €216.79 65
EV/EBITDA €123.03 €176.21 €229.39 67
EV/Revenue €71.96 €118.45 €164.94 52
Asset-Based
NCAV (Graham) €40.80 €54.68 €81.61 54
Growth DCF
Growth DCF €96.19 €145.17 €231.75 77
Rev-Margin DCF €73.63 €124.25 €186.25 72
Economic Profit
Residual Income €86.63 €111.31 €297.51 67
ROIC Compounder €49.90 €65.15 €78.71 72
Growth Earnings
Growth-Adj P/E €140.27 €200.39 €260.50 67

Widest divergence: Growth Earnings (€200.39) versus Asset-Based (€54.68). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 28.2
P/S ratio 3.44 P/E × margin
EPS (TTM) €9.66 price ÷ EPS = P/E 28.2
Dividend yield 2.0% payout 55.4%
Net margin 12.2% FY2025
Return on equity 12.6% TTM
More key figures
Profitability
Return on assets (EBIT) 5.6% avg 5y
Operating margin 12.7% TTM
Growth
Revenue (TTM) €79.7B TTM
EPS growth (YoY) −8.6%
Balance sheet & cash flow
Free cash flow €9.1B FY2025
Net debt €41.5B FY2025 · ≈ 4.6 yrs of FCF

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 57 · Market factors (momentum, volatility) 60

Profitability 44
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 73
Distance to the 52-week high (market factor)
Net Issuance 88
Buybacks instead of dilution

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 Aktiengesellschaft, a technology company, focuses in the areas of automation and digitalization in Europe, Commonwealth of Independent States, Africa, the Middle East, the Americas, Asia, and Australia. It operates through Digital Industries, Smart Infrastructure, Mobility, Siemens Healthineers, and Siemens Financial Services (SFS) segments.

Full company description

Siemens Aktiengesellschaft, a technology company, focuses in the areas of automation and digitalization in Europe, Commonwealth of Independent States, Africa, the Middle East, the Americas, Asia, and Australia. It operates through Digital Industries, Smart Infrastructure, Mobility, Siemens Healthineers, and Siemens Financial Services (SFS) segments. The Digital Industries segment provides automation systems and software for factories, numerical control systems, servo motors, drives and inverters, and integrated automation systems for machine tools and production machines; process control systems, machine-to-machine communication products, sensors and radio frequency identification systems; production and product lifecycle management software, and simulation and testing of mechatronic system. The Smart Infrastructure segment offers products, systems, solutions, services, and software to support sustainable transition from fossil and renewable energy sources; sustainable buildings and communities; and buildings, electrification, and electrical products. The Mobility segment provides rail passenger and freight transportation, such as metro systems, trams and light rail, and commuter trains, as well as trains and passenger coaches; locomotives and solutions for automated transportation and leasing; products and solutions for rail automation and electrification; maintenance and digital services; and digital and cloud-based solutions, and related services. The Siemens Healthineers segment develops, manufactures, and sells various diagnostic and therapeutic products and services; and provides clinical consulting and training services. The Siemens Financial Services segment offers debt and equity investments; leasing, lending, and working capital; structured, equipment, and project financing; and financial advisory services. The company was founded in 1847 and is headquartered in Munich, Germany.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Siemens Aktiengesellschaft reported revenue of €78.9B in FY2025 versus €62.3B in FY2021, a compound +6.1%/yr. Reported net income was €9.6B in FY2025, compounding +16.3%/yr from FY2021.

Growth Quality 80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€78.9B
Latest YoY
+3.9%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.1%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.4%
Avg. revenue growth/yr (26Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.5%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+15.9% (13.9 + 2.0)
Revenue +6.1%/yr
FY21 €62.3B
FY22 €72.0B
FY23 €74.9B
FY24 €75.9B
FY25 €78.9B
Net income +16.3%/yr
FY21 €5.3B
FY22 €3.7B
FY23 €7.9B
FY24 €8.3B
FY25 €9.6B
Character of growth · EPS growth decomposed (2014-2025) +5.9 % p.a.
Revenue per share +0.7 %

of which total revenue +0.2 % · buybacks/dilution +0.5 %

EBIT margin +4.1 %
Tax rate +0.7 %
Residual (interest, one-offs) +0.4 %

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).

SIE screens 95% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Siemens Aktiengesellschaft Fair Value". https://www.fairvalue-calculator.com/stock/SIE

Peer Group

Specialty Industrial Machinery · 792 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.

Quality Score 59 · Above median
Fair Value upside −49% · Below median
Return on equity (TTM) 13% · Above median
Return on assets 4% · Above median
Net margin (TTM) 10% · Above median
Operating margin (TTM) 13% · Above median
Revenue growth 0% · Below median
Dividend yield (TTM) 2.0% · Above median
Debt / equity 0.68× · Higher than 75% of peers

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 28.2× · Cheaper than median
P/B 3.88× · Pricier than median
P/S (TTM) 3.03× · Pricier than median
P/FCF 26.6× · Pricier than 75% of peers
EV/EBITDA 22.8× · Pricier than median
PEG 5.35× · Pricier than 75% of peers

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE0 · sector 21
PAST50 · sector 28
HEALTH66 · sector 96
DIVIDEND39 · sector 27

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc GEV $941.84 $131.95 −86%
Eaton Corporation ETN $402.78 $168.65 −58%
Parker-Hannifin Corporation PH $995.02 $398.69 −60%
Atlas Copco AB ATCOA kr 206.60 kr 112.59 −46%
Cummins Inc CMI $564.40 $348.94 −38%
Illinois Tool Works Inc ITW $281.67 $145.84 −48%
Emerson Electric Co EMR $155.18 $58.44 −62%
AMETEK, Inc AME $236.25 $125.80 −47%
Rockwell Automation, Inc ROK $417.53 $125.76 −70%
Sandvik AB SAND kr 384.40 kr 193.01 −50%

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Frequently asked questions

Is Siemens Aktiengesellschaft (SIE) overvalued or undervalued?
As of Aug 29, 2026, our model estimates a fair value of €139.77 versus a price of €272.65, about −49% upside (overvalued).
What is the fair value of SIE?
Our model-based fair value for Siemens Aktiengesellschaft is €139.77 (as of Aug 29, 2026), built from audited fundamentals. The current price: €272.65.
What is the quality score of SIE?
Siemens Aktiengesellschaft has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Siemens Aktiengesellschaft (SIE)?
Siemens Aktiengesellschaft reported trailing-twelve-month revenue of about €79.7B (latest available figure, as of Aug 29, 2026).
What is the net profit margin of SIE?
The net profit margin of Siemens Aktiengesellschaft is about 9.7%, meaning it keeps roughly 9.7% of revenue as net income. Based on the latest reported figures.
Does Siemens Aktiengesellschaft pay a dividend?
Siemens Aktiengesellschaft currently shows a dividend yield of about 1.96% relative to its recent price (as of Aug 29, 2026).
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