Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Siemens Healthineers AG (0PMJ.L)

Company Dividend Discount ModelIndustry: Medical - Equipment & ServicesSector: Healthcare

Valuation Snapshot

Stable Growth$72.78 - $378.92$146.79
Multi-Stage$41.34 - $45.17$43.22
Blended Fair Value$95.00
Current Price$46.02
Upside106.44%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS5.96%21.83%0.950.940.950.850.760.710.620.200.310.34
YoY Growth--0.28%-0.28%11.62%11.57%7.27%14.16%203.91%-34.66%-6.63%154.73%
Dividend Yield--2.06%1.85%1.80%1.82%1.16%1.69%1.45%0.56%1.04%1.11%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2,144.00
(-) Cash Dividends Paid (M)1,066.00
(=) Cash Retained (M)1,078.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)428.80268.00160.80
Cash Retained (M)1,078.001,078.001,078.00
(-) Cash Required (M)-428.80-268.00-160.80
(=) Excess Retained (M)649.20810.00917.20
(/) Shares Outstanding (M)1,125.271,125.271,125.27
(=) Excess Retained per Share0.580.720.82
LTM Dividend per Share0.950.950.95
(+) Excess Retained per Share0.580.720.82
(=) Adjusted Dividend1.521.671.76
WACC / Discount Rate7.71%7.71%7.71%
Growth Rate5.50%6.50%7.50%
Fair Value$72.78$146.79$378.92
Upside / Downside58.14%218.96%723.38%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,144.002,283.362,431.782,589.842,758.182,937.473,025.59
Payout Ratio49.72%57.78%65.83%73.89%81.94%90.00%92.50%
Projected Dividends (M)1,066.001,319.241,600.891,913.592,260.172,643.722,798.67

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.71%7.71%7.71%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1,213.311,224.811,236.31
Year 2 PV (M)1,354.121,379.921,405.95
Year 3 PV (M)1,488.651,531.391,574.93
Year 4 PV (M)1,617.091,679.281,743.25
Year 5 PV (M)1,739.631,823.661,910.90
PV of Terminal Value (M)39,103.1340,991.8342,952.81
Equity Value (M)46,515.9448,630.8850,824.14
Shares Outstanding (M)1,125.271,125.271,125.27
Fair Value$41.34$43.22$45.17
Upside / Downside-10.17%-6.09%-1.86%

High-Yield Dividend Screener

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