Siemens Energy AG
5-year stock timeline
Siemens Energy (ENR.XETRA) — 2020–2026: why the stock moved, and where it stands at €167.7
Spin-off and IPO
Siemens Energy separated from Siemens AG and listed on Frankfurt in September 2020 after shareholder approval. The debut price was €22.01. Siemens AG kept a significant anchor stake, positioning the company as an independent global energy-technology player.
Gamesa crisis (2022–2023)
Manufacturing and scaling problems at Siemens Gamesa's onshore wind platforms forced large charges and a complete guidance reset. The company wrote down assets and forecast a net loss around €4.5–4.6bn for FY2023. Management and the board commissioned special investigations and repriced margins well below prior expectations. The stock fell hard as investor confidence collapsed.
Balance-sheet stabilization (2023)
Siemens Energy refinanced key parts of the business and accelerated asset sales. An 18% stake in Siemens Limited India was sold for roughly €2.1bn, improving liquidity and reducing solvency pressure. Government-backed guarantee facilities and creditor support arrangements helped preserve operational capacity and creditor confidence.
Restructuring and recovery (2024–2025)
New leadership at Siemens Gamesa launched a restructuring plan targeting break-even by 2026. Cost discipline, quality improvements and focused portfolio actions began showing results. At Capital Market events in 2024–2025, the company announced upgraded targets and a dividend. Rating agencies granted investment-grade status and positive outlooks, which re-rated the equity higher.
The narrative arc
IPO enthusiasm gave way to a value-trap story after the Gamesa shock. By 2024–2025, it had become a credible turnaround as operational metrics improved and balance-sheet health returned. The stock's technical journey tracked these phases: early strength, a severe drawdown during the mid-2023 crisis, a grinding base as fixes took hold, and sustained uptrend as results and sentiment both shifted.
Key risks and downside factors
Siemens Energy operates across power generation, transmission, and renewables, competing directly with heavyweight OEMs like General Electric, Mitsubishi Heavy Industries, Vestas, and ABB in gas turbines, grid solutions, and wind turbines. The company holds genuine technical advantages in HVDC systems, high-efficiency gas turbines, and wind energy through Siemens Gamesa, though these are tempered by execution challenges, quality remediation work, pricing pressure from Chinese competitors, and the inherent lumpiness of project-based revenue.
- Large-contract execution and Siemens Gamesa remediation work are creating cost overruns and squeezing margins.
- Intense price competition from GE, Mitsubishi, Vestas, and lower-cost Chinese manufacturers continues to pressure equipment and service margins.
- Project cyclicality, supply-chain constraints, and commodity price volatility—all of which can delay deliveries and increase costs [1].
- Regulatory and policy risk—subsidy changes, trade restrictions, and shifting decarbonization incentives—can materially alter project economics and order flows [2].
Competitive landscape
Siemens Energy operates across power generation, transmission, and services alongside heavyweights like General Electric, Vestas, and ABB. The company's reach spans gas and steam turbines, renewable equipment (including Siemens Gamesa), and grid infrastructure—a mix that creates real exposure to execution risk and warranty liabilities. What shapes the competitive landscape: brutal pricing pressure in turbines and services, demand that swings with policy shifts around renewables and hydrogen, and the capital intensity that comes with large infrastructure projects.
| Company | Ticker |
|---|---|
| General Electric Company | GE.NYSE |
| ABB Ltd. | ABBN.SIX |
Private competitors
- Hitachi Energy
- Voith
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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 | -0.68% | -0.92% | -4.21% |
| 3M | +2.57% | +4.84% | -4.92% |
| 6M | +67.08% | +61.09% | +55.11% |
| 1Y | +113.89% | +112.06% | +88.71% |
| 3Y | +594.78% | +544.40% | +512.64% |
| 5Y | +556.71% | +498.16% | +467.38% |
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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 | 65.6 | 3.6 | 13.6 | 18.8 |
| 1Y ago | 342.8 | 1.8 | 6.7 | 11.9 |
| 3Y ago | -23.1 | 0.6 | 1.5 | 8.1 |
| 5Y ago | -13.9 | 0.6 | 1.2 | 9.3 |
Frequently Asked Questions
Where is the Siemens Energy AG stock traded?
What does Siemens Energy AG do?
What are the key metrics for ENR.XETRA?
How has Siemens Energy AG's stock price performed?
How is ENR.XETRA valued?
Does ENR.XETRA pay dividends?
What are the key risks when investing in ENR.XETRA?
- Large-contract execution and Siemens Gamesa remediation work are creating cost overruns and squeezing margins.
- Intense price competition from GE, Mitsubishi, Vestas, and lower-cost Chinese manufacturers continues to pressure equipment and service margins.
- Project cyclicality, supply-chain constraints, and commodity price volatility—all of which can delay deliveries and increase costs [web:1].
- Regulatory and policy risk—subsidy changes, trade restrictions, and shifting decarbonization incentives—can materially alter project economics and order flows [web:2].
Who are the main competitors of Siemens Energy AG?
- General Electric Company (GE.NYSE)
- ABB Ltd. (ABBN.SIX)
When does Siemens Energy AG report earnings?
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)
