Siemens Healthineers AG (ETR:SHL) Just Released Its Annual Earnings: Here's What Analysts Think

There's been a notable change in appetite for Siemens Healthineers AG (ETR:SHL) shares in the week since its annual report, with the stock down 11% to €43.29. Revenues of €23b were in line with forecasts, although statutory earnings per share (EPS) came in below expectations at €1.91, missing estimates by 4.6%. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.

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Taking into account the latest results, the most recent consensus for Siemens Healthineers from 18 analysts is for revenues of €24.4b in 2026. If met, it would imply an okay 4.2% increase on its revenue over the past 12 months. Per-share earnings are expected to ascend 13% to €2.17. In the lead-up to this report, the analysts had been modelling revenues of €24.5b and earnings per share (EPS) of €2.22 in 2026. So it looks like there's been a small decline in overall sentiment after the recent results - there's been no major change to revenue estimates, but the analysts did make a small dip in their earnings per share forecasts.

Check out our latest analysis for Siemens Healthineers

It might be a surprise to learn that the consensus price target was broadly unchanged at €58.65, with the analysts clearly implying that the forecast decline in earnings is not expected to have much of an impact on valuation. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. The most optimistic Siemens Healthineers analyst has a price target of €65.00 per share, while the most pessimistic values it at €50.00. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.

Of course, another way to look at these forecasts is to place them into context against the industry itself. We would highlight that Siemens Healthineers' revenue growth is expected to slow, with the forecast 4.2% annualised growth rate until the end of 2026 being well below the historical 8.2% p.a. growth over the last five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 5.8% per year. So it's pretty clear that, while revenue growth is expected to slow down, the wider industry is also expected to grow faster than Siemens Healthineers.

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The Bottom Line

The biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for Siemens Healthineers. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting that it's tracking in line with expectations. Although our data does suggest that Siemens Healthineers' revenue is expected to perform worse than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have forecasts for Siemens Healthineers going out to 2028, and you can see them free on our platform here.

We don't want to rain on the parade too much, but we did also find 1 warning sign for Siemens Healthineers that you need to be mindful of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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