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Siemens Limited (SIEMENS) Fair Value & Analysis

Industrials · IN · Market cap ₹1.2T

SL Siemens Limited SIEMENS · NSE
Price₹3,952
Fair Value₹1,465
Upside-62.9%
Quality66/100
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Expensive Growth
Thin margins · 9.2% net margin
generates free cash flow
Mixed vs. peers (7/12)
Moderate moat 48/100
Evidence: High Range ₹982.19 – ₹2,194 Share as image

Fair value as of: Jul 13, 2026

From 26 valuation models · updated 25 days ago

Fair value updated Jul 13, 2026, revised from ₹813.62 to ₹1,465 (+80.0%) since Jun 24, 2026. Share price +13.1% over the past month.

A solid business, but screening 63% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹2,194). The favourable scenario is already priced in.
  • Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹982.19 to ₹2,194) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹4,137 ₹879.47 Fair Value ₹1,465 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range ₹879.47 – ₹4,137 · fair‑value band ₹982.19 – ₹2,194 · the ₹3,952 price screens above the ₹1,465 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

Siemens Limited (SIEMENS) currently trades at ₹3,952, while our model-based Fair Value estimate is ₹1,465, implying the stock looks roughly 62.9% overvalued today. We read business quality at 66/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Siemens Limited generated revenue of ₹172B at a net margin of 9.2%. Revenue grew 14.6% year over year. It earns a return on equity of 11.8%. The balance sheet holds a net cash position of ₹65.3B. Fundamentals as of Jul 13, 2026

Our scenario range runs from ₹982.19 (bear case) to ₹2,194 (bull case); at ₹3,952, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 40% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -63%, SIEMENS screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income ₹407.12 ₹542.90 ₹1,821 76
Growth DCF ₹385.05 ₹490.76 ₹651.28 72
Gordon GGM ₹115.55 ₹252.27 ₹424.45 70
All 26 models by family
DCF Models
FCF DCF ₹381.36 ₹500.73 ₹694.05 38
Owner Earnings ₹873.57 ₹1,296 ₹1,980 31
5Y Revenue Exit ₹534.15 ₹792.57 ₹1,129 39
5Y EBITDA Exit ₹582.38 ₹883.57 ₹1,240 41
5Y P/E Exit ₹781.10 ₹1,259 ₹1,768 38
10Y Revenue Exit ₹465.44 ₹693.39 ₹1,011 36
10Y EBITDA Exit ₹511.20 ₹758.34 ₹1,099 37
10Y P/E Exit ₹641.22 ₹1,026 ₹1,514 35
Earnings-Based
Graham-Dodd ₹401.79 ₹1,301 ₹1,737 54
Lynch FV ₹289.94 ₹414.20 ₹538.46 50
PEG = 1.0 ₹289.94 ₹414.20 ₹538.46 46
EPV ₹505.74 ₹561.92 ₹611.85 59
Dividend Discount
Gordon GGM ₹115.55 ₹252.27 ₹424.45 70
DDM Multi-Stage ₹115.55 ₹198.38 ₹262.90 61
Multiples
P/E Multiple ₹886.30 ₹1,182 ₹1,477 63
P/S Multiple ₹753.36 ₹1,004 ₹1,256 58
P/B Multiple ₹753.36 ₹1,004 ₹1,256 55
EV/EBIT ₹841.99 ₹1,060 ₹1,278 53
EV/EBITDA ₹740.93 ₹925.44 ₹1,110 54
EV/Revenue ₹628.65 ₹817.75 ₹1,007 43
Asset-Based
NCAV (Graham) ₹185.72 ₹248.86 ₹371.44 50
Growth DCF
Growth DCF ₹385.05 ₹490.76 ₹651.28 72
Rev-Margin DCF ₹534.15 ₹787.22 ₹1,079 67
Economic Profit
Residual Income ₹407.12 ₹542.90 ₹1,821 76
ROIC Compounder ₹531.14 ₹633.00 ₹757.98 67
Growth Earnings
Growth-Adj P/E ₹747.21 ₹1,067 ₹1,388 68

Widest divergence: Growth Earnings (₹1,067) versus Dividend Discount (₹198.38). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) ₹172B
Revenue growth (YoY) +14.6%
Net margin 9.2%
Return on equity 11.8%
Free cash flow ₹5.7B FY2025
P/E ratio 73.5
More key figures
Operating margin 8.0%
EPS (TTM) ₹47.55
EPS growth (YoY) -36.4%
Net cash ₹65.3B FY2025

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 63 · Market factors (momentum, volatility) 71

Profitability 55
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 25
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 84
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Siemens Limited, a technology company, engages in industry, infrastructure, and mobility business in India and internationally. The company operates through Smart Infrastructure, Mobility, Digital Industries, and Portfolio Companies segments.

Full company description

Siemens Limited, a technology company, engages in industry, infrastructure, and mobility business in India and internationally. The company operates through Smart Infrastructure, Mobility, Digital Industries, and Portfolio Companies segments. The Smart Infrastructure segment supplies products, systems, solutions, and services for transmission and distribution of electrical energy for power utilities, industrial companies, and infrastructure segments. This segment offers systems for low and medium voltage distribution; solutions for smart grids and energy automation; and low voltage power supply systems, as well as intelligent and connected infrastructure for grids and buildings. The Mobility segment provides solutions for passenger and freight transportation, including rail vehicles, rail automation systems, rail electrification systems, turnkey systems, and related services. The Digital Industries segment offers products for automation and digitalization of discrete, hybrid, and process industries. This segments portfolio consists of industrial software and automation, and drive technology products for optimizing manufacturing value chain, covering product design, production planning, engineering, execution, and customer services. The Portfolio Companies segment supplies products and services of low-voltage motors. The company engages in the lease rental business. It also installs industrial machinery and equipment. The company was formerly known as Siemens India Limited and changed its name to Siemens Limited in March 1987. Siemens Limited was founded in 1867 and is based in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Siemens Limited reported revenue of ₹174B in FY2025 versus ₹132B in FY2021, a compound +7.1%/yr. Reported net income was ₹21.0B in FY2025, compounding +17.9%/yr from FY2021.

Growth Quality 59/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
₹174B
Latest YoY
−21.9%
Avg. growth/yr (3Y)
+2.5%
Avg. growth/yr (5Y)
+11.8%
Avg. growth/yr (21Y)
+10.2%
Revenue +7.1%/yr
FY21 ₹132B
FY22 ₹161B
FY23 ₹196B
FY24 ₹222B
FY25 ₹174B
Net income +17.9%/yr
FY21 ₹10.9B
FY22 ₹15.4B
FY23 ₹19.6B
FY24 ₹27.2B
FY25 ₹21.0B

SIEMENS screens 63% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Siemens Limited Fair Value". https://www.fairvalue-calculator.com/stock/SIEMENS

Peer Group

Specialty Industrial Machinery · 808 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 66 · Top 25%
Fair Value upside −63% · Bottom 25%
Return on equity (TTM) 12% · Above median
Return on assets 5% · Above median
Net margin (TTM) 9% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 15% · Above median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 73.5× · Pricier than 75% of peers
P/B 9.41× · Pricier than 75% of peers
P/S (TTM) 7.22× · Pricier than 75% of peers
P/FCF 2.3× · Cheaper than median
EV/EBITDA 49.2× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 73 · sector 23
PAST 47 · sector 28
HEALTH 0 · sector 96
DIVIDEND 0 · sector 24

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €887.60 €186.93 -79%
1SIE 1SIE €273.20 €91.93 -66%
SMNS SMNS C$31.76 C$22.68 -29%
Eaton Corporation ETN $407.28 $171.92 -58%
Atlas Copco AB ATCOA kr 195.15 kr 112.59 -42%
Sandvik AB SAND kr 384.10 kr 193.01 -50%
Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is Siemens Limited (SIEMENS) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of ₹1,465 versus a price of ₹3,952, about −63% (overvalued).
What is the fair value of SIEMENS?
Our model-based fair value for Siemens Limited is ₹1,465 (as of Jul 13, 2026), built from audited fundamentals. The current price is ₹3,952.
What is the quality score of SIEMENS?
Siemens Limited has a Quality Score of 66/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Siemens Limited (SIEMENS)?
Siemens Limited reported trailing-twelve-month revenue of about ₹172B (latest available figure, as of Jul 13, 2026).
What is the net profit margin of SIEMENS?
The net profit margin of Siemens Limited is about 9.2%, meaning it keeps roughly 9.2% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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