Siemens Healthineers AG

BRSE:SHL Stock Report

Market Cap: CHF 51.5b

Siemens Healthineers Valuation

Is SHL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of SHL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SHL (CHF46.32) is trading below our estimate of fair value (CHF125.22)

Significantly Below Fair Value: SHL is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SHL?

Key metric: As SHL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for SHL. This is calculated by dividing SHL's market cap by their current earnings.
What is SHL's PE Ratio?
PE Ratio28.3x
Earnings€1.94b
Market Cap€55.04b

Price to Earnings Ratio vs Peers

How does SHL's PE Ratio compare to its peers?

The above table shows the PE ratio for SHL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average43x
SOON Sonova Holding
31.4x8.7%CHF 18.9b
STMN Straumann Holding
61.3x20.9%CHF 17.6b
MOVE Medacta Group
42.6x18.4%CHF 2.2b
ALC Alcon
36.7x9.4%CHF 37.8b
SHL Siemens Healthineers
28.3x14.2%CHF 55.0b

Price-To-Earnings vs Peers: SHL is good value based on its Price-To-Earnings Ratio (28.3x) compared to the peer average (43x).

Price to Earnings Ratio vs Industry

How does SHL's PE Ratio compare vs other companies in the European Medical Equipment Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SHL 28.3xIndustry Avg. 28.9xNo. of Companies7PE01632486480+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SHL is good value based on its Price-To-Earnings Ratio (28.3x) compared to the European Medical Equipment industry average (29.7x).

Price to Earnings Ratio vs Fair Ratio

What is SHL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SHL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio28.3x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SHL's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst SHL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 47.00
CHF 55.69
+18.5%
6.7%CHF 63.23CHF 47.12n/a19
Oct ’25CHF 50.26
CHF 55.69
+10.8%
6.7%CHF 63.23CHF 47.12n/a19
Sep ’25CHF 48.63
CHF 56.00
+15.2%
6.1%CHF 63.16CHF 47.06n/a20
Aug ’25CHF 51.40
CHF 56.33
+9.6%
6.7%CHF 63.26CHF 45.25n/a19
Jul ’25CHF 52.27
CHF 58.09
+11.1%
7.3%CHF 69.86CHF 46.00n/a20
Jun ’25CHF 52.93
CHF 59.05
+11.6%
7.2%CHF 71.20CHF 46.88n/a20
May ’25CHF 52.32
CHF 59.04
+12.9%
6.3%CHF 65.08CHF 46.97n/a20
Apr ’25n/a
CHF 58.41
0%
6.6%CHF 64.81CHF 46.78n/a20
Mar ’25CHF 53.29
CHF 57.14
+7.2%
6.6%CHF 63.36CHF 45.73n/a21
Feb ’25n/a
CHF 55.01
0%
7.3%CHF 62.00CHF 44.75n/a21
Jan ’25n/a
CHF 54.41
0%
6.9%CHF 61.50CHF 44.60n/a21
Dec ’24CHF 49.67
CHF 54.50
+9.7%
5.4%CHF 58.13CHF 45.74n/a20
Nov ’24n/a
CHF 54.41
0%
6.5%CHF 61.01CHF 46.93CHF 47.0020
Oct ’24n/a
CHF 54.95
0%
6.8%CHF 61.58CHF 47.37CHF 50.2618
Sep ’24n/a
CHF 54.88
0%
7.3%CHF 62.03CHF 46.76CHF 48.6317
Aug ’24CHF 50.28
CHF 56.96
+13.3%
8.7%CHF 68.40CHF 47.34CHF 51.4017
Jul ’24n/a
CHF 57.82
0%
8.7%CHF 69.14CHF 47.85CHF 52.2716
Jun ’24CHF 51.57
CHF 57.76
+12.0%
8.5%CHF 69.03CHF 47.77CHF 52.9317
May ’24CHF 54.89
CHF 58.93
+7.4%
6.7%CHF 66.94CHF 48.81CHF 52.3216
Apr ’24CHF 51.21
CHF 58.93
+15.1%
6.7%CHF 66.94CHF 48.81n/a16
Mar ’24n/a
CHF 58.98
0%
6.8%CHF 66.91CHF 48.79CHF 53.2915
Feb ’24CHF 49.17
CHF 57.32
+16.6%
7.5%CHF 63.40CHF 49.53n/a15
Jan ’24CHF 46.20
CHF 57.30
+24.0%
7.8%CHF 63.15CHF 49.34n/a15
Dec ’23n/a
CHF 57.82
0%
10.4%CHF 73.59CHF 49.06CHF 49.6715
Nov ’23n/a
CHF 58.91
0%
18.8%CHF 73.60CHF 27.28n/a15

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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