Siemens Energy AG
5-year stock timeline
Siemens Energy (ENR.XETRA) — concise 2020–2026 timeline
Major events
Siemens Energy spun off from Siemens and listed on the Frankfurt exchange in September 2020, inheriting a majority stake in Siemens Gamesa at IPO. From 2021–2022 the group expanded HVDC and grid contracts while promoting hydrogen-ready gas turbines, and moved to acquire the remaining Siemens Gamesa shares via tender offer, completing consolidation around 2022–early 2023. In 2023 Siemens Gamesa revealed significant onshore quality problems that produced multi-billion-euro charges, a large group net loss, and intensive remediation and financing discussions. By FY2024 the company reported a return to profitability driven by conventional and grid businesses and set new mid-term targets.
Investor narrative
Investor sentiment shifted from IPO optimism around a decarbonization growth play to severe concern when the Gamesa quality issues emerged and many shareholders judged the takeover overpriced. That narrative gradually became a turnaround story as management tightened governance at the wind unit, replaced leaders and announced remediation and cost measures while reporting improving results in FY2024–2025. By 2025 market perception had moved toward a diversified energy OEM with clearer profitability targets but continued headline risk from the integrated wind business and ongoing execution needs.
Technical phases
Post-IPO the stock showed volatility with constructive episodes linked to large order wins and hydrogen and grid narratives, then moved into a prolonged volatile decline across 2022–mid-2023 as Gamesa concerns hit sentiment and valuation. The 2023 shock produced an unusually large drawdown and a downside breakout from prior ranges, followed by a multi-month bottoming phase while remediation and financing steps were implemented. From late-2023 into 2024–2025 the share price staged a sustained recovery as order intake, operational execution and improved guidance supported a trending rebound and re-rating of the business.
Key risks and downside factors
Siemens Energy operates in a competitive landscape against established players like GE Vernova, Mitsubishi Power, and ABB in turbines and grid equipment, alongside wind specialists such as Vestas and Chinese manufacturers [5][1]. Across gas and steam turbines, grid technologies, and wind power, the company faces pressure from both entrenched competitors and lower-cost challengers, driving its push into hydrogen-ready turbines and digital grid solutions [5][7]. The business carries meaningful risks: execution and warranty exposure on large-scale projects, supply-chain volatility and commodity cost fluctuations, sensitivity to energy-transition policy shifts, and persistent margin pressure as competition intensifies [1][5][7].
- Project execution and warranty losses tied to wind-turbine manufacturing and large-scale power projects.
- Competitive intensity in gas turbines and grid equipment is picking up, with GE Vernova, Mitsubishi Power, and ABB all pressing hard on pricing and margins [5][1].
- Supply-chain disruptions and commodity-cost inflation are pushing up capital expenditure while stretching delivery timelines [7].
- Regulatory and policy shifts pose a meaningful risk—subsidy regimes can change, decarbonization timelines slip or tighten, and trade or market-access constraints can suddenly reshape the competitive landscape.
Competitive landscape
Siemens Energy operates across power generation, grid infrastructure, and renewables, competing with industrial heavyweights like GE Vernova and Mitsubishi Heavy Industries, grid specialists such as Schneider Electric, and in wind turbines against Vestas and Chinese manufacturers [5][7][2]. The wind business remains a pressure point—both operationally and financially—while execution risk on major projects sits alongside margin compression from fierce competition in turbines and grid equipment. Policy shifts and the uncertain pace of the energy transition add another layer, capable of redirecting demand or forcing expensive pivots in technology [5][7].
| Company | Ticker |
|---|---|
| Schneider Electric SE | SU.PA |
Private competitors
- Envision Energy
- Windey
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Start Free TrialPerformance Figures of Siemens Energy AG
Relative Performance vs Benchmarks
| Period | Siemens Energy AG | vs DAX | vs S&P 500 (SPY) |
|---|---|---|---|
| 1M | -12.38% | -6.41% | -7.39% |
| 3M | +18.65% | +24.05% | +23.02% |
| 6M | +34.71% | +39.68% | +36.98% |
| 1Y | +155.83% | +153.05% | +138.57% |
| 3Y | +605.81% | +557.58% | +540.73% |
| 5Y | +364.27% | +310.92% | +290.45% |
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Start Free TrialHistorical valuation trends
How the company’s key valuation ratios (P/E, P/S, P/B and P/CF) have evolved over time compared to today.
| Period | P/E Ratio | P/S Ratio | P/B Ratio | P/CF Ratio |
|---|---|---|---|---|
| Current | 65.2 | 3.1 | 10.9 | 17.0 |
| 1Y ago | 236.2 | 1.2 | 4.6 | 8.2 |
| 3Y ago | -19.3 | 0.5 | 1.3 | 6.7 |
| 5Y ago | -17.2 | 0.8 | 1.4 | 11.5 |
Key Metrics
Valuation Metrics
Profitability Metrics
Growth Metrics
Dividend history
Long-term record of paid dividends (amount per share and dividend yield at the time of payment).
| Year | Dividend | Yield at payment | Avg. yield |
|---|---|---|---|
| 2026 | 0.70 EUR | 0.42% | 0.49% |
| 2023 | 0.10 EUR | 0.55% | |
| 2022 | 0.10 EUR | 0.51% |
Earnings history & estimates
Historical earnings performance shows how consistently the company meets or exceeds analyst expectations. Forward estimates provide insight into expected profitability and growth trajectory.
Historical earnings performance
Upcoming earnings report
Analyst estimates for upcoming periods
Key financial figures
Selected income statement, balance sheet and cash flow figures. Annual and quarterly, based on reported IFRS/GAAP financials.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | 39.08B | 34.47B | 31.12B | 29.00B | 28.48B |
| Operating income (EBIT) | 2.15B | 2.13B | -3.26B | -489.00M | -357.00M |
| Net income | 1.41B | 1.19B | -4.53B | -647.00M | -560.00M |
| Free cash flow | 4.10B | 1.38B | 394.00M | 1.06B | 959.00M |
| Total assets | 56.64B | 50.87B | 47.91B | 51.17B | 44.14B |
| Equity | 10.30B | 9.07B | 8.50B | 17.19B | 14.96B |
| Net debt | -5.20B | -2.60B | 193.00M | -2.74B | -2.60B |
PWP Leeway UG (haftungsbeschränkt)
