Over the next five fiscal years Siemens should compound steadily.
The company’s Financial Framework targets 5 – 7 % comparable revenue growth per year; using the 5 % midpoint, sales rise from €75.9 bn in FY-2024 to c. €97 bn in FY-2029 – ≈ 5 % CAGR.
Margin lift is baked into segment goals: Digital Industries 17-23 %, Smart Infrastructure 11-16 %, Mobility 10-13 % and Siemens Healthineers 17-21 %. A revenue-weighted midpoint implies a group industrial profit margin near 17 % in FY-2029, up from 15.5 % today.
Equity investors have been valuing Siemens at roughly 18 × forward earnings; if the multiple simply holds, the share should command a ~18 × P/E in FY-2029 as well.
Five-year metrics
- Average revenue growth (CAGR): ≈ 5 % p.a.
- Industrial profit margin in FY-2029: ≈ 17 %
- P/E multiple in FY-2029: ≈ 18 ×
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