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$221.33 - $378.92$355.10
Multi-Stage$61.25 - $67.03$64.09
Blended Fair Value$209.60
Current Price$46.02
Upside355.44%
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 Rate6.23%6.23%6.23%
Growth Rate5.50%6.50%7.50%
Fair Value$221.33$355.10$378.92
Upside / Downside380.94%671.63%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 Rate6.23%6.23%6.23%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1,230.251,241.911,253.57
Year 2 PV (M)1,392.201,418.721,445.48
Year 3 PV (M)1,551.881,596.421,641.82
Year 4 PV (M)1,709.301,775.041,842.65
Year 5 PV (M)1,864.511,954.562,048.07
PV of Terminal Value (M)61,173.0564,127.7367,195.49
Equity Value (M)68,921.1872,114.3875,427.08
Shares Outstanding (M)1,125.271,125.271,125.27
Fair Value$61.25$64.09$67.03
Upside / Downside33.09%39.26%45.65%

High-Yield Dividend Screener

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