SHL FINANCIAL STATEMENTS

Siemens Healthineers AG — balance sheet, income statement and cash flow trends

SHLSiemens Healthineers AG

🇩🇪 Germany · XETRA · Healthcare · Medical Devices

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue23.1 B €-0.3%

Gross Profit8.8 B €-2.3%

Operating Income3.3 B €-8.4%

EBITDA4.4 B €-1.6%

Net Income2.1 B €+0.3%

Peer Comparison· Medical Devices

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
SHL	-0.3%	38.0%	19.1%	9.1%
EW	13.8%	78.0%	22.5%	17.3%
BSX	17.4%	70.4%	26.6%	17.2%
GEHC	0.8%	42.5%	17.0%	7.5%
DXCM	16.1%	61.8%	30.6%	19.3%
PHIA	-1.9%	45.2%	15.4%	5.5%
Industry median	7.4%	58.9%	5.2%	-5.7%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity18.2 B €41%
Current Liabilities12.9 B €29%
Long-term Liabilities13.7 B €31%

Key Figures

YoY change

Total Assets44.8 B €-4.5%

Total Liabilities26.6 B €-5.8%

Total Equity18.2 B €-2.4%

Cash & ST Investments1.9 B €-20.6%

Total Debt15.3 B €-9.1%

Net Debt13.4 B €-7.2%

Peer Comparison· Medical Devices

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
SHL	1.10	84.1%	3.04	40.6%
EW	4.42	6.8%	-2.09	77.5%
BSX	1.90	42.6%	1.73	58.3%
GEHC	1.17	99.1%	2.44	28.7%
DXCM	1.95	46.8%	-0.70	44.6%
PHIA	1.32	71.1%	2.03	41.8%
Industry median	3.28	44.7%	0.82	49.7%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow2.8 B €-10.1%

Capital Expenditures797 M €+4.5%

Free Cash Flow2 B €-14.8%

Dividends Paid1 B €-68.2%

Peer Comparison· Medical Devices

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
SHL	12.2%	8.7%	3.5%	134.0%
EW	21.6%	17.3%	4.3%	124.3%
BSX	21.1%	16.7%	4.4%	122.2%
GEHC	10.2%	7.6%	2.5%	134.8%
DXCM	37.0%	29.7%	7.3%	191.6%
PHIA	13.0%	10.8%	2.2%	236.4%
Industry median	7.2%	1.5%	4.1%	76.6%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 7, 26. This content is for informational purposes only and is not investment advice.

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
SHL	-0.3%	38.0%	19.1%	9.1%
BAYN	-2.9%	59.3%	7.7%	-4.8%
MRK	-1.7%	58.5%	28.5%	12.1%
FRE	4.2%	25.2%	15.6%	6.4%
FME	-0.7%	26.0%	17.9%	4.9%
Industry median	7.4%	58.9%	5.2%	-5.7%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
SHL	1.10	84.1%	3.04	40.6%
BAYN	1.06	134.8%	9.19	26.7%
MRK	1.51	40.5%	1.38	56.0%
FRE	1.27	60.2%	2.73	46.7%
FME	1.20	83.3%	2.82	42.1%
Industry median	3.28	44.7%	0.82	49.7%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
SHL	-0.3%	38.0%	19.1%	9.1%
BAYN	-2.9%	59.3%	7.7%	-4.8%
MRK	-1.7%	58.5%	28.5%	12.1%
FRE	4.2%	25.2%	15.6%	6.4%
FME	-0.7%	26.0%	17.9%	4.9%
Industry median	7.4%	58.9%	5.2%	-5.7%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
SHL	1.10	84.1%	3.04	40.6%
BAYN	1.06	134.8%	9.19	26.7%
MRK	1.51	40.5%	1.38	56.0%
FRE	1.27	60.2%	2.73	46.7%
FME	1.20	83.3%	2.82	42.1%
Industry median	3.28	44.7%	0.82	49.7%