Siemens Healthineers AG (SHL.DE)

DCF Valuation · Healthcare · Medical Devices

Valuation as at 2026-08-14 · see also the Europe Most Undervalued screen

About Siemens Healthineers AG

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.

Source: Yahoo Finance company profile · factual description, not KashVector commentary

Siemens Healthineers AG SHL.DE

Healthcare · Medical Devices

Price
€39.04
Market Cap
€43.69B
Free Cash Flow
€2.15B
Beta
0.83
P/E (TTM)
19.8x
52-Week Range
€32.81–€49.71

Siemens Healthineers AG's price & financial trends

Each card is labelled with its own reporting period — quarterly where Yahoo provides it for this market, annual otherwise.

Data as at 2026-08-14

Share price · last 2 years

€39.03 -26% vs 2024-08
STOXX Europe 600 €52.58€54.96€47.06€42.84€34.88€39.03 2024-082025-012025-062025-112026-042026-08

Earnings per share (diluted) Per quarter

€0.60 +43% vs Q4 '24
€0.42€0.49€0.40€0.60Q4 '24Q2 '25Q4 '25Q2 '26

Free cash flow Per quarter

€1.02B +417% vs Q1 '25
€0.20B€0.84B€0.33B€0.39B€1.02BQ1 '25Q2 '25Q4 '25Q1 '26Q2 '26

Dividend per share Per year

€0.95 +12% vs FY22
€0.85€0.95€0.95FY22FY23FY24

Value investing scale · Buffett · Dalio · Graham

Strong Fit
13 / 20 combined score

See the full Buffett, Dalio & Graham breakdown for SHL.DE →

Intrinsic value estimate · 5-year forecast

BEAR
€28.66
vs current €39.04
-26.6% ❌ Overvalued
BASE
€51.36
vs current €39.04
+31.6% ✅ Undervalued
BULL
€90.55
vs current €39.04
+132.0% ✅ Undervalued

Assumptions used in this valuation

Every input below is either fetched live from Yahoo Finance or a documented default — nothing is hidden.

Starting free cash flow
€2.15B
Reported free cash flow (Yahoo)
Risk-free rate
3.20%
Fixed market seed
Beta
0.83
Floored for non-US stocks
Equity risk premium
5.50%
Market-specific seed
Cost of debt
4.50%
Synthetic rating A-, ICR 5.9x
Tax rate
25.00%
Estimated default
Capital structure
E 74% / D 26%
Market cap vs total debt
Projection horizon
5 years
+ terminal value beyond
BearBaseBull
5-yr FCF growth6.0%12.1%18.1%
Terminal growth1.8%1.8%1.8%
WACC (discount rate)7.64%6.64%5.64%

Cost of Equity = Risk-free rate + Beta × Equity Risk Premium = 3.20% + 0.83 × 5.50% = 7.76% · WACC = weighted by 74%/26% capital structure

These numbers come from running Siemens Healthineers AG's cash flows through the mechanical DCF formula and assumptions above — not from any view on the news, management, or SHL.DE's competitive position. What is DCF?

Want to test your own growth or discount-rate assumptions?Open the full interactive calculator, pre-filled with SHL.DE →

More stocks we've valued

Not financial advice. DCF valuations are highly sensitive to assumptions — small changes in growth rate or discount rate produce large swings in output. This is a mechanical calculation, not a recommendation to buy, hold, or sell.

About this valuation

Computed on 2026-08-14 from Yahoo Finance data, using the same engine as the full DCF tool and the Europe Most Undervalued screen. Every figure above is a point-in-time snapshot of that date — change any assumption yourself in the interactive tool for a live one.

Frequently asked questions

Is Siemens Healthineers AG (SHL.DE) undervalued?

The Base-case DCF estimates intrinsic value at €51.36 vs a price of €39.04 on 2026-08-14 — a +31.6% margin, so the Base case reads undervalued. This is a mechanical output, not advice.