Siemens Aktiengesellschaft
5-year stock timeline
Siemens (SIE.XETRA) — 2020–2026 timeline with key drivers, narrative shifts and chart phases
Major events
Siemens completed the spin-off and listing of Siemens Energy in late September 2020, fundamentally reshaping the group's structure and shareholder base. Immediately after, Siemens AG retained a ~35.1% anchor stake in Siemens Energy and publicly committed to reducing it over time—a signal that shaped capital allocation expectations and introduced headline volatility around the process.
Leadership changed hands in early February 2021 when Roland Busch succeeded Joe Kaeser as President & CEO, anchoring the company's pivot toward digitalisation and industrial software across the remaining businesses.
Investor narrative
The story through 2020 shifted from conglomerate-with-energy-arm to a leaner, digitally-oriented industrial champion centred on Digital Industries, Smart Infrastructure and Mobility. That repositioning became the dominant investor theme after the spin-off.
For the next two years, investors wrestled with whether the new Siemens was a quality industrial compounder or still a conglomerate carrying execution risk—the remaining Energy stake and cyclical exposure kept that debate live as markets repriced energy and industrial cycles. From 2023 onward, the narrative broadened to include improving operational delivery and shareholder returns, with dividend increases and steady earnings beats lifting investor tone into 2025–2026.
Technical phases
The early 2020 COVID sell-off reversed into a recovery that carried through the September spin-off event, creating structural volatility and a clear regime shift on the chart. The post-spin period brought a re-rating alongside the new CEO's strategic messaging, though 2022 tested mid-cycle industrial exposure with macro and sector shocks.
From 2023 onward, price action turned constructive as recurring earnings and rising shareholder returns drew renewed buy-side interest. The chart shows a multi-year consolidation resolved into an uptrend through 2024–2026, reaching the current price of 205.7 as fundamentals tightened.
Key risks and downside factors
Siemens operates in energy, industry, and mobility alongside formidable competitors—General Electric, Schneider Electric, ABB, Honeywell, and Rockwell Automation among them. The company is steering its automation and software divisions toward higher-margin digital and SaaS offerings, a transition that opens genuine growth avenues but carries real execution risk. The business faces familiar headwinds: cyclical industrial spending patterns, relentless competitive pricing, and the friction that comes with managing complex global projects across geopolitical and regulatory minefields. Supply chain resilience remains a persistent concern across its sprawling operations.
- Large industrial and automation players are intensifying competition in ways that could compress pricing and erode market share.
- Shifting industrial automation and software to SaaS introduces real execution risk—the kind that can squeeze margins and make recurring revenue timing unpredictable [2].
- Cyclical exposure to industrial capital expenditure and macroeconomic slowdowns, which can constrain orders, reduce backlog depth, and limit revenue visibility.
- Geopolitical, regulatory, and supply-chain risks stemming from complex global projects and manufacturing operations across multiple regions.
Competitive landscape
Siemens competes across electrification, automation, and digitalization against ABB, Schneider Electric, General Electric, and Honeywell in a sprawling global industrial-technology market. Its competitive position rests on scale, substantial project backlogs, and an expanding suite of service and digital platforms. The company faces exposure to cyclical industrial demand, project execution risk, and the regulatory and geopolitical sensitivities that come with operating in energy and healthcare.
| Company | Ticker |
|---|---|
| ABB Ltd. | ABBN.SW |
| General Electric Co. | GE.NYSE |
Private competitors
- Robert Bosch GmbH
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Start Free TrialPerformance Figures of Siemens Aktiengesellschaft
Relative Performance vs Benchmarks
| Period | Siemens Aktiengesellschaft | vs DAX | vs S&P 500 (SPY) |
|---|---|---|---|
| 1M | -13.64% | -7.67% | -8.65% |
| 3M | -12.16% | -6.76% | -7.79% |
| 6M | -12.91% | -7.94% | -10.64% |
| 1Y | -2.18% | -4.96% | -19.44% |
| 3Y | +48.14% | -0.09% | -16.94% |
| 5Y | +66.23% | +12.88% | -7.59% |
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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 | 20.4 | 2.0 | 2.5 | 14.2 |
| 1Y ago | 17.2 | 2.2 | 2.9 | 14.1 |
| 3Y ago | 20.0 | 1.6 | 2.7 | 11.6 |
| 5Y ago | 22.6 | 2.0 | 2.8 | 11.1 |
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 | 5.35 EUR | 2.08% | 3.32% |
| 2025 | 5.20 EUR | 2.29% | |
| 2024 | 4.70 EUR | 2.77% | |
| 2023 | 4.25 EUR | 2.84% | |
| 2022 | 4.00 EUR | 2.76% | |
| 2021 | 3.50 EUR | 2.57% | |
| 2020 | 3.90 EUR | 3.80% | |
| 2019 | 3.80 EUR | 4.22% | |
| 2018 | 3.70 EUR | 3.36% | |
| 2017 | 3.60 EUR | 3.25% | |
| 2016 | 3.50 EUR | 4.29% | |
| 2015 | 3.30 EUR | 3.67% | |
| 2014 | 3.00 EUR | 3.36% | |
| 2013 | 3.00 EUR | 4.10% | |
| 2012 | 3.00 EUR | 4.44% |
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 | 78.91B | 75.93B | 74.88B | 71.98B | 62.27B |
| Operating income (EBIT) | 9.09B | 9.56B | 9.45B | 7.40B | 6.69B |
| Net income | 9.62B | 8.30B | 7.95B | 3.72B | 5.26B |
| Free cash flow | 9.08B | 9.58B | 10.09B | 8.16B | 8.27B |
| Total assets | 166.20B | 147.81B | 145.07B | 151.50B | 139.61B |
| Equity | 62.24B | 51.26B | 47.79B | 48.90B | 44.37B |
| Net debt | 41.52B | 38.76B | 36.51B | 40.17B | 39.16B |
PWP Leeway UG (haftungsbeschränkt)
