Siemens Healthineers: Initiating Coverage With Wide Moat Rating
We're initiating coverage of Siemens Healthineers with a wide moat rating and a fair value estimate of EUR 61 per share. At current levels, the shares appear moderately undervalued.
Siemens Healthineers AG Registered Shares SHL
Bulls Say, Bears Say
Bulls
Varian continues to grow at above-average levels, taking market share in new orders. Its product portfolio is materially broader than its key competitors'.
Bears
China remains a near-term challenge for the entire industry. Recovery in this market might take longer than expected, and growth isn't likely to return to the prior levels.
News
-
Novartis Confirms Offer for Diagnostic Arm From Siemens Healthineers
-
Siemens Healthineers Shares Drop Despite In-Line Results
-
Siemens Healthineers Net Profit Rises as Order Momentum Continues
-
Siemens Healthineers Profit Rises on Revenue Growth
-
GE HealthCare's stock slides after UBS downgrades to sell
-
Siemens Healthineers Net Profit Falls on Higher Costs, Taxes
-
Siemens Healthineers Weighs Sale, Carve-Out of Diagnostics Unit, Bloomberg Reports
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Siemens Healthineers Gets 20-Year Belfast Hospital Contract
Trading Information
- Previous Close Price
- €51.06
- Day Range
- €50.20–51.58
- 52-Week Range
- €45.51–58.14
- Bid/Ask
- €0.00 / €51.52
- Market Cap
- €57.38 Bil
- Volume/Avg
- 1.0 Mil / 622,228
Key Statistics
- Price/Earnings (Normalized)
- 23.68
- Price/Sales
- 2.59
- Dividend Yield (Trailing)
- 1.86%
- Dividend Yield (Forward)
- 1.86%
- Total Yield
- 1.99%
Company Profile
Siemens Healthineers is engaged in therapeutic imaging, radiotherapy, laboratory, and point-of-care diagnostics. The imaging segment (55% of sales in fiscal 2023) includes magnetic resonance imaging, computed tomography, X-ray systems, molecular imaging, and ultrasound. The Varian segment (16% of sales) offers radiotherapy and other oncology solutions. The portfolio of the diagnostics segment (21%) includes in vitro diagnostics products offered to providers and point-of-care diagnostics. The advanced therapies segment (9%) products are designed to support image-guided minimally invasive treatments in cardiology, interventional radiology, and surgery. North America represents 41% of total sales, Europe, Middle East, and Africa 32%, and Asia-Pacific including China the remainder.
- Sector
- Healthcare
- Industry
- Medical Devices
- Stock Style Box
- Large Core
- Total Number of Employees
- 71,800
Competitors
Valuation
|
Metric
|
SHL
|
PHIA
|
GEHC
|
|---|---|---|---|
Price/Earnings (Normalized) | 23.68 | 21.51 | 22.85 |
Price/Book Value | 3.13 | 2.20 | 5.44 |
Price/Sales | 2.59 | 1.52 | 2.18 |
Price/Cash Flow | 20.31 | 21.15 | 18.62 |
Price/Earnings
SHL
PHIA
GEHC
Financial Strength
|
Metric
|
SHL
|
PHIA
|
GEHC
|
|---|---|---|---|
Quick Ratio | 0.79 | 0.66 | 0.73 |
Current Ratio | 1.27 | 1.16 | 1.06 |
Interest Coverage | 6.36 | 0.15 | 5.32 |
Quick Ratio
SHL
PHIA
GEHC
Profitability
|
Metric
|
SHL
|
PHIA
|
GEHC
|
|---|---|---|---|
Return on Assets (Normalized) | 4.04% | 4.12% | 5.78% |
Return on Equity (Normalized) | 10.35% | 10.11% | 25.45% |
Return on Invested Capital (Normalized) | 11.27% | 6.98% | 12.80% |
Return on Assets
SHL
PHIA
GEHC
Medical Devices Industry Comparables
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United States