Siemens Ltd: Intrinsic Value & Share Price Analysis

Q: What is the intrinsic value of Siemens Ltd and is it undervalued?

Siemens Ltd: the stored intrinsic value estimate is ₹1,753.38, compared with a stored share price of ₹3,842.00. The model value is 54.4% below that quote. The model classifies this as overvalued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

Fair Value

₹5,882.56Undervalued by 53.11%vs CMP ₹3,842.00

P/E (107.0) × ROE (18.0%) × BV (₹380.00) × DY (0.47%)

₹1,740.72Overvalued by 54.69%vs CMP ₹3,842.00

MoS: -120.7% (Negative)Confidence: 63/100 (Moderate)Models: 1 Under, 8 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹5,987.40	22%	Under (+55.8%)
Graham Number	Earnings	₹633.65	16%	Over (-83.5%)
Earnings Power	Earnings	₹486.85	13%	Over (-87.3%)
DCF	Cash Flow	₹548.35	13%	Over (-85.7%)
Net Asset Value	Assets	₹379.23	7%	Over (-90.1%)
EV/EBITDA	Enterprise	₹605.77	9%	Over (-84.2%)
Earnings Yield	Earnings	₹469.60	7%	Over (-87.8%)
ROCE Capital	Returns	₹415.80	7%	Over (-89.2%)
Revenue Multiple	Revenue	₹651.29	5%	Over (-83%)
Consensus (9 models)		₹1,740.72	100%	Overvalued

Key Drivers: P/E of 107 makes PE-ROE unreliable — asset/earnings models are better benchmarks. | Wide model spread (₹379–₹5,987) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 1.8%

*Investments are subject to market risks

Analysis summary

Data coverage: Price-data record updated 24 September 2026, 10:10 pm +05:30. Annual results through Sep 2025; quarterly results through Dec 2025; cash flow through Mar 2026. Each section can have a different reporting period. The share price is not live.

Valuation in context

Operating performance

Revenue for Sep 2025 was ₹15,485.00 Cr, versus ₹20,497.00 Cr in Sep 2024 (-24.5% year on year). Net profit for Sep 2025 was ₹2,026.00 Cr, versus ₹2,665.00 Cr in Sep 2024 (-24.0% year on year). These are the latest annual periods stored on this page; check the quarterly table separately for more recent developments.

Cash generation

For the same Sep 2024 period, operating cash flow was ₹1,398.00 Cr against net profit of ₹2,665.00 Cr. Cash flow covered 0.52 times reported profit. The gap warrants checking receivables, working capital and one-off items in the cash-flow statement.

Balance-sheet check

Reported borrowings were ₹248.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How to use the valuation and peer comparisons

The Intrinsic Value panel combines the available model estimates using the displayed weights. Earnings, cash-flow, dividend and asset-based methods can give very different answers. The displayed 12% cost of equity and 4% terminal growth assumptions apply where relevant; historical EPS growth is not a promise of future growth. Use the individual values and their spread to judge sensitivity.

The peer group follows the stored industry classification and may include different business models. Compare reporting periods, leverage and recurring earnings before interpreting a valuation gap. For banks and other financial businesses, capital adequacy and asset quality can be more informative than industrial-company cash-flow ratios.

Sources: Company data source. Check the company filings linked by the source for the reporting basis and exceptional items.

Automatically generated interpretation of the stored financial data, not a separately researched analyst opinion. Missing data is not evidence of poor performance. New filings become available here after the existing data refresh process captures them.

Investment Snapshot

Siemens Ltd scores 67/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health87/100 · Strong

ROCE 19.5% GoodROE 18.0% GoodDebt/equity Not availableInterest Coverage 170.7x StrongProfitable 5/5 available years Reported history

Smart Money65/100 · Strong

FII holding stable No changeDII holding up 1.06% MF buyingPromoter holding at 75.0% Stable

Earnings Quality70/100 · Strong

CFO/NP ratio: 0.57x Partially cash-backedOPM stable around 13% SteadyWorking capital: 30 days (improving) Efficient

Quarterly Momentum50/100 · Moderate

Revenue (4Q): +11% YoY GrowingProfit (4Q): -40% YoY Declining

Industry Rank45/100 · Moderate

P/E 107.0 vs industry 80.1 In-lineROCE 19.5% vs industry 17.1% Average3Y sales CAGR: 1% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores use stored reporting periods and are screening indicators, not investment recommendations. Missing health ratios are excluded. Broad industry groups and financial-sector accounting can limit comparability.

Share Price and Basic Stock Data

Last Updated: September 24, 2026, 10:10 pm

Market Cap	1,37,021 Cr.
Current Price	3,842
Intrinsic Value	₹1,753.38
High / Low	4,149/2,826
Stock P/E	107
Book Value	380
Dividend Yield	0.47 %
ROCE	19.5 %
ROE	18.0 %
Face Value	2.00
PEG Ratio	60.04

Understand these figures: how to read the P/E ratio, ROE versus earnings per share, and calculate intrinsic value.

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Siemens Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Siemens Ltd	1,37,021 Cr.	3,842	4,149/2,826	107	380	0.47 %	19.5 %	18.0 %	2.00
Honeywell Automation India Ltd	29,727 Cr.	33,625	41,495/26,220	53.2	5,047	0.33 %	17.0 %	12.6 %	10.0
Aplab Ltd	184 Cr.	73.2	122/57.8		7.96	0.00 %	14.8 %	16.5 %	10.0
Industry Average	55,644.00 Cr	12,513.40		80.10	1,811.65	0.27%	17.10%	15.70%	7.33

All Competitor Stocks of Siemens Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	3,645	4,465	4,473	5,382	3,320	3,716	3,328	3,974	2,948	3,809	3,868	4,363	3,398
Expenses	3,096	3,910	3,968	4,750	2,940	3,169	2,925	3,521	2,649	3,422	3,440	3,850	3,123
Operating Profit	549	555	505	631	380	547	403	453	299	386	428	513	275
OPM %	15%	12%	11%	12%	11%	15%	12%	11%	10%	10%	11%	12%	8%
Other Income	95	188	126	139	248	614	291	534	415	455	114	104	44
Interest	5	7	3	4	2	16	4	18	3	2	2	3	5
Depreciation	52	54	64	54	36	38	45	37	40	42	43	41	43
Profit before tax	588	682	564	712	589	1,107	645	933	671	797	497	573	272
Tax %	26%	24%	25%	25%	21%	19%	18%	17%	16%	15%	26%	27%	23%
Net Profit	438	516	424	534	463	896	531	775	563	674	369	420	209
EPS in Rs	12.29	14.49	11.90	15.00	13.01	25.17	14.90	21.76	15.80	18.94	10.37	11.78	5.87

Last Updated: March 3, 2026, 2:44 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 8:16 pm

Metric	Sep 2014	Sep 2015	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025	TTM
Sales	10,678	10,512	10,810	11,015	12,725	13,000	9,869	12,522	14,832	17,965	20,497	15,485	15,438
Expenses	10,559	9,516	9,762	9,937	11,382	11,498	8,850	11,065	13,197	15,688	17,692	13,836	13,835
Operating Profit	119	997	1,047	1,078	1,344	1,503	1,020	1,457	1,635	2,277	2,804	1,649	1,603
OPM %	1%	9%	10%	10%	11%	12%	10%	12%	11%	13%	14%	11%	10%
Other Income	985	943	3,156	820	280	394	310	278	597	549	1,039	1,076	717
Interest	31	28	35	32	36	39	60	46	61	58	96	10	12
Depreciation	229	216	226	197	197	198	250	225	210	224	230	172	169
Profit before tax	844	1,696	3,942	1,669	1,391	1,660	1,020	1,464	1,961	2,545	3,518	2,542	2,138
Tax %	28%	30%	26%	32%	36%	35%	26%	25%	22%	25%	24%	20%
Net Profit	603	1,183	2,917	1,134	894	1,087	756	1,103	1,531	1,911	2,665	2,026	1,672
EPS in Rs	16.94	33.23	81.92	31.83	25.10	30.52	21.24	30.97	42.99	53.67	74.84	56.89	46.96
Dividend Payout %	35%	30%	41%	22%	28%	23%	33%	26%	23%	19%	16%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year
YoY Net Profit Growth (%)
Change in YoY Net Profit Growth (%)

No data available for trend analysis.

Growth

Compounded Sales Growth
10 Years:	7%
5 Years:	10%
3 Years:	18%
TTM:	-6%

Compounded Profit Growth
10 Years:	25%
5 Years:	18%
3 Years:	31%
TTM:	-19%

Stock Price CAGR
10 Years:	17%
5 Years:	35%
3 Years:	23%
1 Year:	-18%

Return on Equity
10 Years:	13%
5 Years:	14%
3 Years:	16%
Last Year:	17%

Last Updated: September 5, 2025, 1:31 pm

Balance Sheet

Last Updated: July 20, 2026, 6:00 am

Month	Sep 2015	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025	Mar 2026
Equity Capital	71	71	71	71	71	71	71	71	71	71	71	71
Reserves	5,055	6,750	7,634	8,234	8,972	9,403	10,272	11,525	12,953	15,176	12,970	13,454
Borrowings	0	0	0	0	0	206	196	160	152	257	98	248
Other Liabilities	5,401	5,133	5,418	5,944	6,167	5,986	6,842	7,757	7,726	8,748	5,671	6,016
Total Liabilities	10,528	11,954	13,123	14,249	15,210	15,666	17,382	19,512	20,902	24,252	18,810	19,790
Fixed Assets	1,361	1,196	1,334	1,351	1,190	1,165	1,112	1,024	1,021	1,164	726	882
CWIP	32	79	143	62	58	88	30	49	48	99	196	239
Investments	169	165	55	55	55	55	2,212	2,220	2,220	2,220	2,220	2,220
Other Assets	8,966	10,515	11,591	12,780	13,907	14,358	14,028	16,219	17,614	20,769	15,667	16,448
Total Assets	10,528	11,954	13,123	14,249	15,210	15,666	17,382	19,512	20,902	24,252	18,810	19,790

Reserves and Borrowings Chart

Cash Flow

Month	Sep 2014	Sep 2015	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Mar 2026
Cash from Operating Activity +	608	618	508	554	42	1,212	676	1,334	928	1,179	1,398	-971
Cash from Investing Activity +	130	625	240	1,313	-156	-1,034	829	-2,507	20	-659	-388	4,052
Cash from Financing Activity +	-220	-268	-1,612	-260	-305	-311	-385	-320	-383	-440	-497	-3,274
Net Cash Flow	517	975	-864	1,607	-420	-133	1,121	-1,494	565	80	513	-192
Free Cash Flow	838	650	221	883	-137	1,198	667	1,234	828	1,136	1,325	-1,452
CFO/OP	675%	85%	82%	127%	47%	121%	95%	115%	87%	85%	125%	-0%

Free Cash Flow

Free cash flow reported in the stored cash-flow statement (₹ Cr)
Period	Sep 2014	Sep 2015	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Mar 2026
Free Cash Flow	838.00	650.00	221.00	883.00	-137.00	1,198.00	667.00	1,234.00	828.00	1,136.00	1,325.00	-1,452.00

This table and the chart use the Free Cash Flow row from the same stored cash-flow statement. Free cash flow generally measures operating cash flow after capital expenditure; check the source definition and reporting basis. It is not operating profit minus borrowings.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Sep 2013	Sep 2014	Sep 2015	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Debtor Days	121	126	105	102	113	105	107	116	100	87	71	71
Inventory Days	68	78	69	68	70	73	71	100	98	98	95	92
Days Payable	187	202	172	150	181	194	214	250	215	197	160	172
Cash Conversion Cycle	3	3	2	20	1	-16	-36	-35	-16	-12	6	-9
Working Capital Days	17	25	19	31	34	50	47	47	35	17	34	30
ROCE %	6%	10%	19%	16%	16%	18%	19%	12%	14%	15%	21%	23%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
FIIs	7.94%	7.89%	8.30%	8.59%	8.69%	8.77%	8.19%	7.66%	7.00%	6.85%	6.80%	6.47%
DIIs	7.64%	7.71%	7.42%	7.03%	6.90%	6.78%	7.28%	7.24%	8.04%	8.35%	8.59%	9.10%
Public	9.44%	9.40%	9.29%	9.39%	9.42%	9.45%	9.51%	10.09%	9.96%	9.79%	9.60%	9.45%
No. of Shareholders	1,63,563	1,56,916	1,52,706	1,79,869	1,92,619	2,08,414	2,28,178	2,92,881	2,81,243	2,70,941	2,58,262	2,57,203

Shareholding Pattern Chart

No. of Shareholders

Siemens Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
ICICI Prudential Large Cap Fund	1,530,826	0.77	582.97	1,560,895	2026-06-12 01:15:37	-1.93%
Nippon India Large Cap Fund	983,917	0.72	374.7	1,083,917	2026-06-12 01:15:37	-9.23%
Mirae Asset Large Cap Fund	846,510	0.84	322.37	1,366,094	2026-06-12 01:15:37	-38.03%
Nippon India Multi Cap Fund	537,712	0.39	204.77	300,454	2025-12-08 02:19:26	78.97%
Motilal Oswal Flexi Cap Fund	459,723	1.37	175.07	N/A	N/A	N/A
ICICI Prudential Business Cycle Fund	363,726	0.88	138.51	N/A	N/A	N/A
ICICI Prudential Manufacturing Fund	355,198	2.05	135.27	407,648	2026-03-23 10:27:39	-12.87%
DSP India T.I.G.E.R. Fund	324,416	2.13	123.54	367,811	2026-03-11 06:56:54	-11.8%
Nippon India Power & Infra Fund	197,169	0.97	75.09	N/A	N/A	N/A
Nippon India Flexi Cap Fund	148,572	0.61	56.58	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Sep 25	Sep 24	Sep 23	Sep 22	Sep 21
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	59.14	76.33	55.09	43.33	30.62
Diluted EPS (Rs.)	59.14	76.33	55.09	43.33	30.62
Cash EPS (Rs.)	67.03	85.61	64.12	52.25	39.07
Book Value[Excl.RevalReserv]/Share (Rs.)	371.56	431.37	367.86	326.34	290.93
Book Value[Incl.RevalReserv]/Share (Rs.)	371.56	431.37	367.86	326.34	290.93
Revenue From Operations / Share (Rs.)	487.76	624.71	549.26	453.31	383.12
PBDIT / Share (Rs.)	72.40	113.18	83.80	58.01	49.02
PBIT / Share (Rs.)	64.52	103.92	74.79	49.10	40.58
PBT / Share (Rs.)	64.10	102.22	74.15	48.08	39.88
Net Profit / Share (Rs.)	59.15	76.35	55.11	43.34	30.63
NP After MI And SOA / Share (Rs.)	59.11	76.31	55.08	43.34	30.63
PBDIT Margin (%)	14.84	18.11	15.25	12.79	12.79
PBIT Margin (%)	13.22	16.63	13.61	10.83	10.59
PBT Margin (%)	13.14	16.36	13.50	10.60	10.41
Net Profit Margin (%)	12.12	12.22	10.03	9.56	7.99
NP After MI And SOA Margin (%)	12.11	12.21	10.02	9.56	7.99
Return on Networth / Equity (%)	15.90	17.68	14.98	13.28	10.53
Return on Capital Employeed (%)	16.45	22.42	19.40	14.42	12.92
Return On Assets (%)	10.52	10.69	8.80	7.67	6.07
Asset Turnover Ratio (%)	0.76	0.93	0.92	0.79	0.77
Current Ratio (X)	2.54	2.26	2.06	1.91	1.94
Quick Ratio (X)	2.21	1.97	1.77	1.64	1.67
Inventory Turnover Ratio (X)	7.51	1.96	1.89	1.54	1.87
Dividend Payout Ratio (NP) (%)	0.00	13.10	18.16	18.46	22.86
Dividend Payout Ratio (CP) (%)	0.00	11.68	15.60	15.31	17.92
Earning Retention Ratio (%)	0.00	86.90	81.84	81.54	77.14
Cash Earning Retention Ratio (%)	0.00	88.32	84.40	84.69	82.08
Interest Coverage Ratio (X)	170.68	66.60	130.85	56.89	70.93
Interest Coverage Ratio (Post Tax) (X)	112.84	45.93	87.05	35.76	43.69
Enterprise Value (Cr.)	104742.54	248363.50	123157.64	92037.28	70592.28
EV / Net Operating Revenue (X)	6.03	11.17	6.30	5.70	5.18
EV / EBITDA (X)	40.64	61.64	41.28	44.57	40.45
MarketCap / Net Operating Revenue (X)	6.42	11.60	6.69	6.11	5.55
Retention Ratios (%)	0.00	86.89	81.83	81.53	77.13
Price / BV (X)	8.42	16.80	9.99	8.49	7.32
Price / Net Operating Revenue (X)	6.42	11.60	6.69	6.11	5.55
EarningsYield	0.01	0.01	0.01	0.01	0.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

What is the intrinsic value of Siemens Ltd and is it undervalued?

Siemens Ltd: the stored intrinsic value estimate is ₹1,740.72, compared with a stored share price of ₹3,842.00. The model value is 54.7% below that quote. The model classifies this as overvalued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

What share price and 52-week range are shown for Siemens Ltd?

The stored share price is ₹3,842.00. Price-data record updated: 24 September 2026, 10:10 pm +05:30. This is not a live quote. The stored 52-week high / low is 4,149/2,826; this is a rolling range, not a financial-year range.

How have Siemens Ltd's revenue and profit changed?

Does Siemens Ltd's profit convert into cash?

What should I check in Siemens Ltd's balance sheet?

Reported borrowings were ₹248.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How should I compare Siemens Ltd's P/E with other stocks?

The stored P/E is 107.00. Compare companies with similar business models, growth, leverage and accounting periods. The industry group on this page is broad, and its average can be affected by outliers. A lower P/E alone does not establish undervaluation.

What could change Siemens Ltd's intrinsic value estimate?

Changes in sustainable earnings, cash generation, capital needs, debt and share count can change the estimate. The displayed model uses a 12% cost of equity and 4% terminal growth assumption where applicable. Higher discount rates or weaker growth generally reduce discounted values. Compare the individual model values and weights, and verify fresh filings before relying on the result.