Company Valuation: Siemens AG

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 113,299 79,905 107,367 141,274 177,700 203,340 - -
Change - -29.47% 34.37% 31.58% 25.78% 14.43% - -
Enterprise Value (EV) 1 152,454 120,076 143,879 180,037 219,220 242,763 239,798 235,853
Change - -21.24% 19.82% 25.13% 21.76% 10.74% -1.22% -1.65%
P/E 18.7x 22x 13.7x 17.5x 18.9x 25x 21.8x 19.3x
PBR 2.56x 1.68x 2.24x 2.79x 2.87x 3.15x 2.95x 2.71x
PEG - -0.6x 0x 3.69x 1.1x -2x 1.5x 1.5x
Capitalization / Revenue 1.82x 1.11x 1.38x 1.86x 2.25x 2.45x 2.27x 2.12x
EV / Revenue 2.45x 1.67x 1.85x 2.37x 2.78x 2.93x 2.68x 2.46x
EV / EBITDA 16.8x 11.2x 10.2x 13.3x 16.4x 16x 14x 12.3x
EV / EBIT 23.5x 12.9x 14.9x 18.8x 22.8x 20.5x 17.5x 15x
EV / FCF 18.2x 14.2x 14.4x 18.8x 20.3x 28.7x 21.8x 18.8x
FCF Yield 5.49% 7.02% 6.96% 5.32% 4.93% 3.49% 4.59% 5.32%
Dividend per Share 2 4 4.25 4.7 5.2 5.35 5.628 5.956 6.402
Rate of return 2.82% 4.2% 3.46% 2.87% 2.33% 2.13% 2.25% 2.42%
EPS 2 7.59 4.59 9.91 10.38 12.11 10.59 12.16 13.68
Distribution rate 52.7% 92.6% 47.4% 50.1% 44.2% 53.2% 49% 46.8%
Net sales 1 62,265 71,977 77,769 75,930 78,914 82,929 89,587 95,744
EBITDA 1 9,091 10,759 14,163 13,577 13,380 15,184 17,165 19,191
EBIT 1 6,494 9,285 9,649 9,593 9,594 11,841 13,729 15,690
Net income 1 6,161 3,723 7,949 8,301 9,620 8,453 9,773 11,038
Net Debt 1 39,155 40,171 36,512 38,763 41,520 39,423 36,458 32,513
Reference price 2 141.92 101.20 135.66 181.34 229.20 264.55 264.55 264.55
Nbr of stocks (in thousands) 798,333 789,577 791,442 779,054 775,303 768,626 - -
Announcement Date 11/11/21 A 11/17/22 A 11/16/23 A 11/14/24 A 11/13/25 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
24.99x2.93x15.99x2.13% 233B
17.19x2.32x10.23x2.96% 249B
28.24x3.66x16.89x1.75% 169B
34.39x5.32x22.68x1.08% 155B
42.84x5.69x24.65x1.02% 139B
98.21x13.59x71.11x0.3% 111B
49.69x7.95x32.34x0.08% 111B
28.56x4.7x16.4x1.58% 78.16B
32.72x6.83x21.28x0.57% 54.32B
37.2x6.05x24.98x1.23% 51.39B
Average 39.40x 5.90x 25.65x 1.27% 135.19B
Weighted average by Cap. 35.92x 5.13x 23.16x 1.55%

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

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