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Spun off from Siemens: makes gas and steam turbines, grid technology, and wind turbines (via Siemens Gamesa) for power generation worldwide.
Spun off from Siemens: makes gas and steam turbines, grid technology, and wind turbines (via Siemens Gamesa) for power generation worldwide.
Spun off from Siemens in 2020. Earns from gas turbines and grid equipment sold against long order books, then from servicing those machines for decades. The Gamesa wind unit has lost money on quality problems, which led to German government guarantees in 2023.
In one line: Germany's GE Vernova.
Moat: narrow (installed base, customer qualification, process know-how). Large installed turbine/grid base gives long-term service revenue, though wind arm has had quality/cost problems.
Headquarters: Munich, Germany · Founded: 2020 · Employees: 102,985
Size Siemens Energy (ENR.DE) is a Germany Industrials company (Electrical Products) with a market value of $111B, the 5th largest of 205 Germany companies the cockpit tracks. Shares closed at €118.10 on 6 Nov 2026.
Performance Over six months the shares fell 33.3%, against -17.5% for the median peer and +2.6% for the Germany market (cap-weighted) — 5th lowest of 16 in its peer set.
Growth Revenue grew 9.0% over the last twelve months (peer median +12.4%); the operating margin is 9.4% (peer median 12.7%).
Valuation It trades at 26.4× forward earnings against a peer median of 21.5× (2nd most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 66.6 points above its cost of capital (12.0% WACC).
Credit Siemens Energy has 1 bond outstanding ($835M), rated BBB+ by the agencies and trading like BBB+ at a weighted spread of 80 bp.
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €41.8B | €39.1B | €34.5B | €31.1B | €29.0B |
| Revenue growth | — | +13% | +11% | +7% | — |
| Gross profit | €8.69B | €6.68B | €4.48B | €826M | €3.36B |
| EBITDA | €5.53B | €3.51B | €1.39B | -€1.82B | €1.11B |
| Net income | €2.69B | €1.41B | €1.19B | -€4.53B | -€467M |
| Free cash flow | €7.63B | €3.88B | €1.04B | €202M | €952M |
| Capital expenditure | €1.81B | €1.72B | €1.51B | €1.23B | €1.16B |
| Total debt | €2.96B | €3.97B | €3.77B | €4.78B | €3.22B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Siemens Energy ENR.DE | $111B | -33% | +9% | 9% | 26.4× | 17.3% |
| GE Vernova GEV | $205B | -26% | +17% | 7% | 32.2× | 24.9% |
| Mitsubishi Heavy Industries 7011.T | $62.1B | -37% | -3% | 10% | 22.3× | 9.0% |
| Vestas Wind Systems A/S VWS.CO | $31.0B | +8% | +10% | 7% | 21.3× | 0.5% |
| Schneider Electric SU.PA | $151B | -16% | +7% | 18% | 22.2× | 18.0% |
| ABB ABBN.SW | $147B | -17% | +1% | 18% | 24.5× | 4.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ENR.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -17.1% | -13.7% | 6th lowest of 16 |
| 6-month return | -33.3% | -17.5% | 5th lowest of 16 |
| Distance from 52-week high | -38.4% | -28.5% | 4th lowest of 16 |
| Revenue growth (TTM) | +9.0% | +12.4% | 5th lowest of 16 |
| Operating margin | 9.4% | 12.7% | 6th lowest of 16 |
| Forward P/E | 26.4× | 21.5× | 2nd most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 17.3% | 13.2% | 7th most demanding of 14 |
| Growth delivered (Del g) | +7.3% | +9.8% | 6th lowest of 14 |
| Hurdle (Req g minus delivered) | +10.0 pp | +6.1 pp | 4th most demanding of 14 |
| ROIC minus cost of capital | +66.6 pp | +4.1 pp | highest of 15 |
| EV / EBITDA | 16.6× | 18.4× | 6th cheapest of 12 |
| Net debt / EBITDA | -1.5× | 0.3× | 2nd least indebted of 12 |
| Bond spread | 80 bp | 72 bp | 3rd widest of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Siemens Energy ENR.DE | Germany | $111B | -33% | +9% | 9% | 26.4× | 17.3% | +7.3% |
| BYD 002594.SZ | China | $96.6B | -17% | -4% | 4% | 21.2× | n/a | n/a |
| Eaton ETN | United States | $133B | -15% | +20% | 19% | 21.4× | 19.1% | +9.0% |
| ABB ABBN.SW | Switzerland | $147B | -17% | +1% | 18% | 24.5× | 4.3% | +2.3% |
| Schneider Electric SU.PA | France | $151B | -16% | +7% | 18% | 22.2× | 18.0% | +9.8% |
| Contemporary Amperex Technology 300750.SZ | China | $179B | -42% | +51% | 14% | 13.0× | 1.6% | +53.1% |
| Mitsubishi Heavy Industries 7011.T | Japan | $62.1B | -37% | -3% | 10% | 22.3× | 9.0% | +6.1% |
| GE Vernova GEV | United States | $205B | -26% | +17% | 7% | 32.2× | 24.9% | +16.8% |
| Mitsubishi Electric 6503.T | Japan | $59.9B | -28% | +12% | 10% | 17.1× | 13.2% | +7.1% |
| LG Energy Solution 373220.KS | South Korea | $58.2B | -27% | +25% | 1% | n/a | n/a | n/a |
| Ametek AME | United States | $52.4B | -1% | +14% | 27% | 24.8× | 18.5% | +10.3% |
| Rockwell Automation ROK | United States | $41.7B | -17% | +11% | 14% | 25.0× | 27.2% | +5.7% |
| Prysmian PRY.MI | Italy | $33.9B | -35% | +17% | 8% | 20.2× | 13.1% | +14.4% |
| Fujikura 5803.T | Japan | $33.0B | -50% | +28% | 19% | 14.3× | 28.9% | +12.9% |
| Vestas Wind Systems A/S VWS.CO | Denmark | $31.0B | +8% | +10% | 7% | 21.3× | 0.5% | +4.9% |
| NARI Technology 600406.SS | China | $28.6B | -8% | +12% | 13% | 21.7× | 2.5% | +11.4% |
Siemens Energy has 1 bond outstanding with $835M face value. The agencies rate it BBB+; its bonds trade like BBB+. Weighted yield 3.80%, a spread of 80 bp over government bonds.