Stock reports › DE › Industrials

Siemens AG (SIE) stock analysis

Siemens trades 8.74% below its high, with earnings due Nov 12 and a pullback from the summer peak

Siemens AG closed at 266.20 on Oct 27, 2026, up 1.84% on the day but down 4.40% over the past month and 8.74% below its 52-week high of 291.70. Forward P/E of 20.54 sits above the sector median, while returns on capital are low relative to German industrial peers. Quarterly results are due Nov 12, 2026.

  • Price: 266.20
  • Market Cap (USD): $229.03B
  • P/E: 25.93×
  • Fwd P/E: 20.54×
  • Div Yield: 2.01%
  • 1Y Return: 8.10%
  • Next Earnings: Nov 12, 2026
  • Rating: Hold

Bull case

  • Last quarter's (Aug 6, 2026) EPS of 2.87 beat the consensus of 2.55 by 12.55%, and quarterly revenue growth was 7.31% year over year.
  • Free cash flow over the last twelve months was 10.12B, a 4.91% free cash flow yield versus a sector median of 4.78%, supporting a 2.01% dividend yield with a 52.87% payout ratio.
  • Price is 2.70% above the 200-day average of 259.20, and the 50-day average is 4.98% above the 200-day average, keeping the longer-term trend constructive.

Bear case

  • Return on invested capital is 7.10% (14th percentile of German industrials, sector median 17.62%) and return on equity is 12.34% (16th percentile), well below peers.
  • Forward P/E of 20.54 is 12.97% above the industry median of 18.18, and net debt is 38.99B, or 2.44 times EBITDA.
  • Price is below its 20-day (269.25) and 50-day (272.12) averages, MACD is below its signal line, and the 3-month return is -5.30%.

What to watch

  • Q4 FY2026 earnings on Nov 12, 2026 (before market open, confirmed); consensus EPS is 2.82.
  • The 20-day low of 254.50 and the 200-day average of 259.20 as nearby support levels.
  • The 20-day average of 269.25 and 20-day high of 284.40 as resistance, and the 52-week high of 291.70.
  • Next annual dividend ex-date, which has fallen in early to mid February in recent years (last Feb 13, 2026).

General

Siemens is a Munich-based automation and digitalization group founded in 1847, with 317,000 employees. Operations are solid, with growing revenue and strong cash flow, but returns on capital lag peers and the shares have pulled back from their summer high. Analysts are split.

The business

Per its profile, Siemens specializes in automation and digitalization, including a Digital Industries division delivering automation systems and software for industrial applications. Trailing revenue is 81.11B with net income of 7.95B and a net margin of 9.80%. Operating margin of 11.89% matches the sector median.

Recent performance

Latest-quarter revenue growth was 7.31% year over year versus 3.60% on a trailing basis, and quarterly EPS growth was 12.79%. Trailing EPS growth is -18.65%, reflecting a tough comparison with a strong prior year. The stock is up 11.31% year to date but down 5.30% over three months.

Valuation and analysts

Forward P/E is 20.54 against a sector median of 19.32 and trailing P/E is 25.93. Of six analysts in the latest consensus, 3 rate Buy, 1 Hold and 2 Sell, labeled Buy, while the broader rating score of 2.83 across 16 analysts reads Hold. No upgrades or downgrades occurred in the last 30 days.

Long-term investor

Siemens has grown revenue at a 5-year compound rate of 7.39% and returns cash through dividends and buybacks. Weak spots are modest returns on capital and a leveraged balance sheet, while valuation sits slightly above peers.

Growth and earnings

Annual revenue rose from 55.25B in fiscal 2020 to 78.91B in fiscal 2025, though the 3-year CAGR slowed to 3.11%. Diluted EPS was 12.12 in fiscal 2025 versus 10.4 in 2024. Consensus EPS is 12.96 for this fiscal year and 14.85 for next, with next-year EPS growth of 14.61%.

Returns and margins

ROIC of 7.10% and ROE of 12.34% rank in the 14th and 16th percentiles among German industrials. Gross margin of 39.36% is in the 78th percentile, but operating margin slipped 0.44% over the past year. Piotroski F-Score is 7 and Altman Z-Score is 2.6.

Balance sheet and cash returns

Total debt is 49.92B against cash of 10.93B, with debt to equity of 0.73 and interest coverage of 5.85 times. Fiscal 2025 buybacks were 2.27B and dividends 4.09B. The annual dividend of 5.35 is up from 3.5 in 2021, and shares outstanding fell 1.63% over the year.

Valuation context

Price to free cash flow is 20.36 and EV to EBITDA is 15.31 versus a sector median of 14.08. PEG is 1.41. Valuation is modestly above peers despite lower returns on capital, so the premium relies on delivery of expected earnings growth.

Swing trader

The stock is consolidating below its short-term averages after falling from the 291.70 high, with a bounce in the last two sessions. Trend strength is weak and earnings on Nov 12 are the main event in the window.

Trend and momentum

Price of 266.20 is below the 20-day (269.25), 50-day (272.12) and 100-day (273.20) averages but above the 200-day at 259.20. RSI is 47.89, MACD is -3.14 against a signal of -2.21, and ADX is 15.23, indicating a weak trend. The 1-month return is -4.40%.

Recent sessions and levels

The stock rose from 255.70 on Oct 22 to 266.20 on Oct 27 on volume of 822.1K, 0.81 times average. Nearby levels are the 20-day low of 254.50, the lower Bollinger band at 256.05, the upper band at 282.45 and the 20-day high of 284.40.

Volatility and catalysts

ATR is 6.97, or 2.62% of price, and 10-day historical volatility is 33.55% versus 27.94% over 60 days. Earnings on Nov 12 (before the open) are 16 days away. Past earnings-day moves ranged from -8.01% to 6.20%. Relative strength rating is 63.

Analysis written October 28, 2026 from Qanvo data as of October 27, 2026. AI-generated, for information only; not investment advice.