Siemens (SIE.DE): analysis in plain words
Is Siemens cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Siemens (SIE.DE) is listed on the Frankfurt Stock Exchange (Xetra) and we classify it in industrials. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Siemens according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Siemens (SIE.DE) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | €275.65 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 27.6x | Price over earnings per share |
| Revenue growth | +7.3% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 9.8% | Profit for every 100 of sales |
| Net debt / EBITDA | 3.1x | Years of operating profit to repay debt |
| Dividend yield | 1.98% | Annual dividend over price |
| Market cap | €210.7 billion | What the stock market values it at |
The Siemens figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any SIE.DE figure that is not available shows as N/A: we do not estimate it.
How Siemens makes money
Siemens is organized into Digital Industries (factory automation and industrial software), Smart Infrastructure (electrification plus building and grid technology), Mobility (trains and rail signaling) and its stake in Siemens Healthineers (medical equipment), alongside Siemens Financial Services. Customers include manufacturers, utilities, rail operators and hospitals worldwide.
Over the last 12 months, Siemens brought in revenue of €81.1 billion. For every 100 it sells, Siemens keeps 39.4 after the direct cost of what it sells (gross margin) and 14.9 after all operating costs (operating margin). With 317,000 full-time employees, that is about €256,000 of revenue per employee.
Siemens against its sector
To know whether a Siemens figure is high or low you have to put it next to similar companies. This table compares Siemens with the median of the 20 industrials companies Fintols covers, with data as of November 4, 2026.
| Figure | Siemens | industrials median |
|---|---|---|
| P/E | 27.6x | 27.3x (20) |
| Revenue growth | +7.3% | +9.8% (20) |
| Net margin | 9.8% | 13.0% (20) |
| Dividend yield | 1.98% | 1.60% (20) |
| Net debt / EBITDA | 3.1x | 2.1x (20) |
In short, against the typical industrials company, Siemens grows more slowly, earns a thinner margin and pays a higher dividend yield. By size, Siemens ranks number 1 of 5 industrials companies quoted in EUR on Fintols.
The bull case for Siemens
What works in favour of Siemens, according to its figures as of November 4, 2026:
- Analysts expect Siemens earnings to rise: its P/E on the next 12 months of estimated earnings is 21.2x, below the current 27.6x.
- It is the largest by market value of the 5 industrials companies quoted in EUR that Fintols covers, and scale gives it bargaining power with customers and suppliers.
The main risk for Siemens
Debt is heavy: Siemens carries net debt equal to 3.1x its annual EBITDA. With high interest rates or a weak year, interest payments eat into what it can invest or pay out.
And, like the rest of industrials, Siemens is exposed to the economic cycle: when industry and trade slow, its orders fall.
Frequently asked questions about Siemens
Is it a good time to buy Siemens stock?
Fintols does not tell you whether to buy or sell Siemens, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Siemens stock trades at €275.65, 6% below its 52-week high (€291.70) and 39% above its low (€198.00). Its P/E is 27.6x against a industrials median of 27.3x, and 21.2x on the earnings analysts expect over the next 12 months. With Siemens, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Siemens pay a dividend?
Yes. As of November 4, 2026, Siemens pays €5.35 per share a year, which at today's price is a yield of 1.98%. It uses 54% of its profit to pay it, which leaves room to keep paying it if profit dips. Its average dividend yield over the last five years is 2.59%. The industrials median on Fintols is 1.60%.
Is Siemens stock expensive?
It depends on what you compare it with. On P/E, Siemens trades at 27.6x its last 12 months of earnings: in line with the industrials median (27.3x). Including its debt, Siemens is valued at 20.3x its EBITDA (EV/EBITDA). A high P/E alone does not make Siemens expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Siemens's competitors?
On Fintols we compare Siemens with Waste Management, CSX and Norfolk Southern, which are also in industrials. As of November 4, 2026, Waste Management is worth $94.8 billion and trades on a P/E of 31.3; CSX is worth $96.4 billion and trades on a P/E of 27.1; Norfolk Southern is worth $77.3 billion and trades on a P/E of 28.8. Each has a side-by-side comparison with Siemens below.
Siemens competitors
- Waste Management (WM) analysis · Siemens vs Waste Management comparison
- CSX (CSX) analysis · Siemens vs CSX comparison
- Norfolk Southern (NSC) analysis · Siemens vs Norfolk Southern comparison
To understand Siemens better
More companies like Siemens: industrials stocks and Euro Stoxx 50 companies. Open the full SIE.DE analysis with its valuation and scenarios. Educational content about Siemens, not investment advice.