Siemens (Siemens EDA / ex-Mentor Graphics)
ConvictionContext
Diversified industrial-technology group monetizing hardware (automation, grid, rail, medtech), software (Xcelerator: EDA, PLM Teamcenter, NX, Simcenter, now Altair) and services; shifting toward recurring SaaS/ARR. Reportable segments: Digital Industries, Smart Infrastructure, Mobility, Siemens Healthineers (majority-owned, separately listed), plus Siemens Financial Services.
Revenue
EUR 78.9B FY2025~$85-86B), fiscal year ended Sept 30 2025Rev growth
+4% nominal / +5% comparable FY2025guiding +6-8% comparable for FY2026; Q2 FY2026 revenue +6% comparable YoY (flat nominal on FXGross margin
~38% groupest.; not a headline group metric Siemens emphasizesOp margin
Profit Industrial Business margin ~15.9% FY2025 / 15.4% Q2 FY2026Capex intensity
~2% of revenuesoftware-heavy mix keeps capital intensity low for an industrialMarket cap
~$230-240BJun 2026; group; EUR 210.83B on Xetra per exchange data). Primary listing Frankfurt Xetra: SIE (ISIN DE0007236101); US OTC ADR: SIEGYThe read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for Siemens (Siemens EDA / ex-Mentor Graphics)
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07· sign in (free) for the analyst summary; Pro unlocks full intelligence