Projected Income Statement: Siemens AG

Forecast Balance Sheet: Siemens AG

Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 39,155 40,171 36,512 38,763 41,520 38,023 34,812 31,377
Change - 2.59% -9.11% 6.17% 7.11% -8.42% -8.44% -9.87%
Announcement Date 11/11/21 17/11/22 16/11/23 14/11/24 13/11/25 - - -
1EUR in Million
Estimates

Cash Flow Forecast: Siemens AG

Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 1,632 1,808 2,218 2,088 2,445 2,543 2,604 2,825
Change - 10.78% 22.68% -5.86% 17.1% 4.02% 2.39% 8.49%
Free Cash Flow (FCF) 1 8,364 8,433 10,021 9,577 10,812 8,843 10,181 11,340
Change - 0.82% 18.83% -4.43% 12.9% -18.21% 15.12% 11.39%
Announcement Date 11/11/21 17/11/22 16/11/23 14/11/24 13/11/25 - - -
1EUR in Million
Estimates

Forecast Financial Ratios: Siemens AG

Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 14.6% 14.95% 18.21% 17.88% 16.96% 17.98% 18.79% 19.75%
EBIT Margin (%) 10.43% 12.9% 12.41% 12.63% 12.16% 14.2% 15.05% 15.99%
EBT Margin (%) 12.04% 9.94% 14.4% 14.79% 13.72% 14.4% 15.32% 16.01%
Net margin (%) 9.89% 5.17% 10.22% 10.93% 12.19% 9.93% 10.77% 11.26%
FCF margin (%) 13.43% 11.72% 12.89% 12.61% 13.7% 10.64% 11.48% 12.02%
FCF / Net Income (%) 135.76% 226.51% 126.07% 115.37% 112.39% 107.2% 106.68% 106.74%

Profitability

        
ROA 4.46% 2.56% 5.36% 5.67% 6.13% 5.15% 5.73% 6.25%
ROE 15.26% 8% 16.44% 16.76% 16.95% 13.74% 15.28% 15.51%

Financial Health

        
Leverage (Debt/EBITDA) 4.31x 3.73x 2.58x 2.86x 3.1x 2.54x 2.09x 1.68x
Debt / Free cash flow 4.68x 4.76x 3.64x 4.05x 3.84x 4.3x 3.42x 2.77x

Capital Intensity

        
CAPEX / Current Assets (%) 2.62% 2.51% 2.85% 2.75% 3.1% 3.06% 2.94% 2.99%
CAPEX / EBITDA (%) 17.95% 16.8% 15.66% 15.38% 18.27% 17.02% 15.64% 15.16%
CAPEX / FCF (%) 19.51% 21.44% 22.13% 21.8% 22.61% 28.76% 25.58% 24.91%

Items per share

        
Cash flow per share 1 12.31 12.63 15.27 14.59 16.79 13.86 16.24 16.35
Change - 2.53% 20.97% -4.5% 15.08% -17.45% 17.17% 0.72%
Dividend per Share 1 4 4.25 4.7 5.2 5.35 5.617 5.909 6.247
Change - 6.25% 10.59% 10.64% 2.88% 5% 5.19% 5.71%
Book Value Per Share 1 55.34 60.28 60.5 65 79.77 81.91 87.78 99.01
Change - 8.93% 0.36% 7.44% 22.73% 2.68% 7.16% 12.81%
EPS 1 7.59 4.59 9.91 10.38 12.11 10.39 12.06 13.59
Change - -39.53% 115.9% 4.74% 16.67% -14.21% 16.12% 12.65%
Nbr of stocks (in thousands) 7,98,333 7,89,577 7,91,442 7,79,054 7,75,303 7,76,287 7,76,287 7,76,287
Announcement Date 11/11/21 17/11/22 16/11/23 14/11/24 13/11/25 - - -
1EUR
Estimates
2026 *2027 *
P/E ratio 24.1x 20.8x
PBR 3.06x 2.85x
EV / Sales 2.8x 2.59x
Yield 2.24% 2.36%
More valuation ratios * Estimated data

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AAA
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
24
Last Close Price
250.50EUR
Average target price
261.29EUR
Spread / Average Target
+4.31%
Consensus

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. SIE Stock
  4. Financials Siemens AG