Siemens Energy
ConvictionContext
Long-cycle capital equipment + high-margin recurring aftermarket service; project engineering with multi-year backlog; four segments (Gas Services, Grid Technologies, Transformation of Industry, Siemens Gamesa).
Revenue
~EUR 42B TTMFY2025: EUR 39.1B; FY2026 guidance implies ~EUR 45BRev growth
+14-16% comparableFY26 guidance, raised); +8.9% comparable in Q2 FY2026Gross margin
not disclosed at group levelconglomerate; managed via profit-before-special-items marginOp margin
~10-12% profit margin before special itemsFY26 guidance); FY2025 was 6%Capex intensity
lowest. ~3-4% of sales (asset-moderate engineering/assembly modelMarket cap
~$164B USD~EUR 144B) as of early Jul-2026 (Frankfurt/Xetra: ENR; US ADR: SMNEY, OTCThe read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for Siemens Energy
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 (Q2 FY2026 earnings released 12-May-2026 + raised FY26 guidance; FY2025 annual report; market data early Jul-2026)· sign in (free) for the analyst summary; Pro unlocks full intelligence