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Siemens Healthineers AG Unsponsored ADR
(OTC:SMMNY)
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Rating:67Neutral
Price Target:
$24.50
▲(7.17% Upside)
Action:Downgraded
Date:08/04/26
The score is driven primarily by solid financial performance (strong TTM growth, improving margins, and positive free cash flow) and a mixed earnings-call outlook where EPS guidance benefited from one-time tariff refunds while revenue guidance was lowered due to Diagnostics weakness. Technicals are supportive but overbought and still below the 200-day average, and valuation appears reasonable with a moderate P/E and supportive dividend yield.
Positive Factors
Recurring revenue from services & consumables
Siemens Healthineers' installed base drives recurring service, consumables and testing revenues, creating predictable cash flows and higher lifetime customer value. This recurring mix cushions equipment cyclicality, supports steady FCF, and funds R&D and long-term strategic investments.
Negative Factors
Diagnostics revenue weakness (China)
A sustained rebase in the Chinese diagnostics market and legacy-platform dilution create prolonged top-line and margin pressure in Diagnostics. Given Diagnostics' recurring-consumables role, persistent weakness reduces revenue visibility and undermines aggregate margin sustainability over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring revenue from services & consumables
Siemens Healthineers' installed base drives recurring service, consumables and testing revenues, creating predictable cash flows and higher lifetime customer value. This recurring mix cushions equipment cyclicality, supports steady FCF, and funds R&D and long-term strategic investments.
Read all positive factors
Siemens Healthineers AG Unsponsored ADR (SMMNY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$50.53B
Dividend Yield2.63%
Average Volume (3M)9.11K
Price to Earnings (P/E)19.7
Beta (1Y)1.01
Revenue Growth6.23%
EPS Growth9.28%
CountryUS
Employees74,000
SectorGeneral
Sector StrengthN/A
IndustryMedical - Devices
Share Statistics
EPS (TTM)0.88
Shares Outstanding2,256,000,000
10 Day Avg. Volume11,274
30 Day Avg. Volume9,111
Financial Highlights & Ratios
PEG Ratio7.43
Price to Book (P/B)2.44
Price to Sales (P/S)2.34
P/FCF Ratio24.19
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.36
Revenue Forecast (FY)$27.14B
Siemens Healthineers AG Unsponsored ADR Business Overview & Revenue Model
Company Description
Siemens Healthineers AG (SMMNY), operating through its various subsidiaries, is a global enterprise that provides a comprehensive suite of diagnostic and therapeutic medical products and services. These offerings are extended to healthcare profess...
How the Company Makes Money
Siemens Healthineers primarily makes money by selling medical technology equipment and related solutions, and by generating recurring revenue from service and consumable businesses tied to its installed base.
1) Equipment and solution sales (capi...
Siemens Healthineers AG Unsponsored ADR Earnings Call Summary
Earnings Call Date:Jul 31, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Neutral
The call presented a mix of strong operational and commercial momentum (solid book-to-bill, strategic value partnerships, product adoption in photon-counting CT and DryCool MR, radiopharma growth, cash generation and deleveraging) while highlighting material headwinds from a persistent Diagnostics revenue decline (notably in China), a downward revision to revenue guidance, and inflationary and refinancing pressures. Tariff refunds provided a one-time boost to margins and EPS, but underlying challenges in Diagnostics and supply-chain inflation remain important near-term risks. Management expects a Q4 acceleration in the synergetic core but keeps a cautious stance on Diagnostics and FY2027 uncertainties.Positive Updates
Strong Equipment Demand and Book-to-Bill
Outstanding equipment book-to-bill of 1.27 in Q3 (1.17 excluding new value partnerships), indicating robust order intake and market demand.
Negative Updates
Revenue Outlook Lowered
Full-year revenue growth guidance reduced from 4.5%–5% to 3.5%–4.0%, driven primarily by continued Diagnostics weakness.
Read all updates
Q3-2026 Updates
Positive
Negative
Strong Equipment Demand and Book-to-Bill
Outstanding equipment book-to-bill of 1.27 in Q3 (1.17 excluding new value partnerships), indicating robust order intake and market demand.
Read all positive updates
Company Guidance
Management updated FY26 guidance: revenue growth was cut from 4.5–5.0% to 3.5–4.0% while adjusted EPS was raised by €0.15 to €2.35–2.45 (the €0.15 reflects tariff refunds; baseline EPS excl. refunds midpoint €2.25). Q3 showed a synergetic‑core growth of 5% (Precision Therapy +9%), an equipment book‑to‑bill of 1.27 (≈1.17 ex value partnerships), group profitability ex‑refunds ~15.4%, Imaging margin before refunds 21.6% (tariff refund +490 bps) and Precision Therapy margin before refunds 14.1% (tariff refund +350 bps); Diagnostics remains challenged (China -10% in Q3, Diagnostics margin ex‑refunds ~3%) and is expected to decline mid‑single digits in Q4. Liquidity and capital metrics: cash >€1bn, cash conversion 1.12, net debt down ~€800m to ~€12bn and leverage 2.8x (from 3.1x); financial income net ~‑€330m, tax rate ~23%. For Q4 management expects Imaging and Precision Therapy to accelerate to higher single‑digit growth, 2027 baseline EPS at €2.25 with a €400m tariff mitigation target by 2028, an H2 inflation P&L headwind of ~€0.05 EPS (partly offset next year), and recurring separation costs in the mid‑double‑digit million euro range (~€50m) with no branding fee expected.Siemens Healthineers AG Unsponsored ADR Financial Statement Overview
Summary
Income Statement
76
Positive
Balance Sheet
64
Positive
Cash Flow
71
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 21.87B | 22.03B | 22.36B | 21.68B | 21.71B | 18.00B |
| Gross Profit | 9.05B | 8.51B | 8.47B | 7.71B | 8.14B | 6.95B |
| EBITDA | 4.46B | 4.32B | 4.22B | 3.78B | 4.26B | 3.52B |
| Net Income | 2.22B | 2.02B | 1.94B | 1.51B | 2.04B | 1.73B |
Balance Sheet | ||||||
| Total Assets | 45.74B | 52.13B | 46.05B | 46.68B | 49.06B | 41.93B |
| Cash, Cash Equivalents and Short-Term Investments | 2.36B | 2.25B | 2.68B | 1.64B | 1.44B | 1.32B |
| Total Debt | 15.00B | 17.70B | 16.21B | 16.65B | 16.65B | 14.31B |
| Total Liabilities | 26.58B | 30.88B | 27.81B | 28.55B | 29.20B | 25.87B |
| Stockholders Equity | 19.10B | 21.20B | 18.20B | 18.08B | 19.84B | 16.04B |
Cash Flow | ||||||
| Free Cash Flow | 2.29B | 2.13B | 1.77B | 971.00M | 1.40B | 2.11B |
| Operating Cash Flow | 3.11B | 2.91B | 2.47B | 1.81B | 2.26B | 2.78B |
| Investing Cash Flow | -754.36M | -854.00M | -666.00M | -1.07B | -868.00M | -14.14B |
| Financing Cash Flow | -2.39B | -2.44B | -1.30B | -380.00M | -1.40B | 11.99B |
Siemens Healthineers AG Unsponsored ADR Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $120.46B | 23.02 | 10.60% | 3.03% | 9.77% | 12.28% | |
73 Outperform | $187.45B | 34.83 | 10.52% | 2.29% | 8.06% | -61.33% | |
72 Outperform | $116.27B | 31.15 | 16.36% | 1.15% | 8.48% | 27.36% | |
67 Neutral | $50.53B | 19.70 | 12.00% | 2.63% | 6.23% | 9.28% | |
63 Neutral | $69.27B | 19.27 | 14.90% | ― | 13.53% | 46.29% | |
58 Neutral | $25.23B | 19.10 | 10.05% | 3.82% | ― | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
SMMNY
Siemens Healthineers AG Unsponsored ADR
22.65
-4.86
-17.67%
ABT
Abbott Laboratories
108.33
-20.88
-16.16%
BSX
Boston Scientific
47.80
-60.34
-55.80%
PHG
Koninklijke Philips
25.89
-1.08
-4.01%
MDT
Medtronic
94.17
4.11
4.56%
SYK
Stryker
303.13
-86.02
-22.10%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.