Siemens Lifts Mid-Term Ambitions as Record Orders Meet a Split Analyst Verdict
Published on 11/15/2026 at 13:31 | Editorial boerse-global.de
Siemens used its fourth-quarter platform on Thursday to raise its medium-term targets, unveil a record order book and propose a higher payout — a combination that drew applause from one research house and a downgrade from another on the same day.
The Munich-based industrial group guided for comparable revenue growth of 9–11% in fiscal 2027, alongside earnings per share before purchase price allocation effects — EPS pre PPA — of €10.20–10.80. Shareholders are in line for a dividend of €5.50 per share.
Order intake sets a quarterly benchmark
Orders surged 58% in the fourth quarter of fiscal 2026 to a quarterly record of €34.8 billion, a jump Siemens attributed to momentum in digitalization and data centers. Revenue climbed 11% to €23.7 billion, with the top-line expansion accompanied by a stronger result in the industrial business.
That unit posted an all-time high of €3.9 billion, up 22%, while net income advanced 32% to €2.4 billion.
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Lauterbach deal widens the chip-design footprint
On Tuesday the company signed an agreement to acquire Lauterbach, a German specialist in debug and trace solutions for embedded software and SoC architectures. Siemens framed the planned takeover as an extension of its portfolio for semiconductor design and verification. The purchase price was not disclosed; closing is expected in the first half of 2027, subject to customary conditions and regulatory clearances.
A separate software win landed on 9 November, when Siemens signed a six-year contract with Kärnten Netz GmbH to supply its Gridscale-X grid software, supporting the Austrian network operator's digitalization drive and capacity expansion.
Busch plays down Nvidia leadership turmoil
Chief executive Roland Busch struck a confident note on Thursday about cooperation with Nvidia. According to media reports, he said the leadership crisis at the US chipmaker should not affect joint projects, since the collaboration operates at company level and below the executive tier. Reuters quoted Busch as saying the partnership would continue regardless of the decision on the future of Nvidia chief Jensen Huang.
Two analysts, two directions
Vertical Research downgraded Siemens from "Buy" to "Hold" on Thursday, setting a €300 price target, according to media reports. The more cautious stance came on the very day the group reported record orders and higher quarterly profit.
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Evercore ISI moved the other way on Friday, lifting its target to €320 from €315 while reaffirming its "In Line" rating — a higher valuation mark that left the recommendation itself untouched.
Siemens will publish results for the first quarter of fiscal 2027 on 11 February 2027.
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