Siemens Stock Forecast: Record Orders Meet Rate Hikes Before the 12 November Results

Siemens AG (Xetra: SIE) closed at €272.10 on Friday 9 October 2026, according to MarketScreener Xetra data. In early trade on Monday 12 October, the Siemens share price stood at €274.30 at about 09:20 CEST.

The short answer is a tug of war. The business is running at record levels, with orders of €27.9bn and a record €132bn backlog in the third quarter. The macro backdrop has turned harder, with an ECB rate hike in September and Brent oil above $100. Average analyst targets range from about €305 to €319, depending on the data provider, and targets can change. The next big test is the full-year report on 12 November.

The information in this article is provided for educational purposes only and does not constitute financial advice. Consult a financial advisor before making investment decisions.

Siemens Stock Today: The Key Numbers

The table below gathers the main figures for Siemens stock as of 12 October 2026. Each figure carries its own date, because market data change during the day.

Item Value Date and time
Last Xetra close €272.10 (+2.97%) Fri 9 Oct 2026, 17:30 CEST
Day range on 9 Oct €267.45 to €272.95 9 Oct 2026
Early Xetra quote €274.30 Mon 12 Oct 2026, about 09:20 CEST
Volume on 9 Oct 820,915 shares (about 94% of the 20-session average of 869,088) 9 Oct 2026
Change this year +13.78% 1 Jan to 9 Oct 2026
One-year range €198.00 to €291.70 to 9 Oct 2026
Shares in issue 782,000,000 3 Mar 2026
Market capitalisation about €208bn to €215bn 9 to 12 Oct 2026

Source: MarketScreener, Siemens Investor Relations, Trading Economics and Stockopedia. Market capitalisation differs between providers because of the share count used. Past performance is not a reliable indicator of future results.

Identity Card of the Share

Siemens shares trade in the Prime Standard of the Frankfurt Stock Exchange and on the Xetra platform. Regular Xetra trading runs from 09:00 to 17:30 Frankfurt time, as listed by Deutsche Börse.

Detail Value
Siemens ticker on Xetra SIE
ISIN DE0007236101
WKN 723610
US ADR SIEGY (2 ADRs for 1 share)
Fiscal year end 30 September
Selected indices DAX 40, EURO STOXX 50, STOXX Europe 50, S&P Global 100

Source: Siemens Investor Relations, Basic Data and Key Share Figures and Deutsche Börse Live.

Why the Siemens Share Price Moved in October

The shares fell sharply in the middle of the first full week of October. The stock lost 2.80% on 7 October and another 2.56% on 8 October, closing at €264.25. That was the lowest close of the sessions shown below, based on MarketScreener session data.

The fall coincided with weak economic data. German factory orders fell 10.6% month on month in August, far worse than expected, as reported by Sharecast. Excluding large orders, the decline was only 0.1%. Bund yields were also close to their highest level in 17 years, according to Trading Economics.

The 9 October Rebound

The shares bounced 2.97% on Friday 9 October. The DAX gained about 1.1% that day after a two-month low, as oil prices eased on reports about US policy towards Iran, according to Trading Economics. Siemens was among the stronger DAX names.

Session Close Change Volume
29 Sep 2026 €282.00 +1.27% 770,019
30 Sep 2026 €275.50 −2.30% 1,176,739
1 Oct 2026 €271.90 −1.31% 976,580
2 Oct 2026 €276.10 +1.54% 1,298,533
5 Oct 2026 €275.00 −0.40% 734,793
6 Oct 2026 €279.00 +1.45% 632,305
7 Oct 2026 €271.20 −2.80% 892,727
8 Oct 2026 €264.25 −2.56% 922,871
9 Oct 2026 €272.10 +2.97% 820,915

Source: MarketScreener, Xetra closing prices. Past performance is not a reliable indicator of future results.

Siemens Stock Price History: Five Years in Context

Recent moves look small next to the longer record. The stock gained 99.52% over the five years to 9 October 2026. That rise included a loss of 15.09% in 2022. The calendar-year figures below show both sides of the story.

Calendar-Year Performance

Year Annual change Approximate year-end close
2021 +29.92% €152.68
2022 −15.09% €129.64
2023 +31.07% €169.92
2024 +10.97% €188.56
2025 +26.83% €239.15
2026 (to 9 Oct) +13.78% €272.10 (latest close)

Source: annual changes from MarketScreener, period 1 January 2021 to 9 October 2026. Year-end closes are back-calculated from the 9 October close and those changes (own calculation). Figures exclude dividends and are shown before taxes and costs, which may vary. Past performance is not a reliable indicator of future results.

Fiscal-Year View From Siemens

Siemens reports on a fiscal year that ends on 30 September. Its own investor pages give the Xetra close on that date for each of the past five years.

Fiscal year Xetra close on 30 Sep Highest close Lowest close Dividend per share
FY2021 €142.58 €150.26 €100.10 €4.00
FY2022 €101.20 €157.96 €93.74 €4.25
FY2023 €135.66 €165.78 €100.92 €4.70
FY2024 €181.34 €188.40 €121.20 €5.20
FY2025 €229.20 €243.00 €176.00 €5.35

Source: Siemens Investor Relations, fiscal years 2021 to 2025. Past performance is not a reliable indicator of future results.

The 2026 High and the One-Year Range

Siemens stock reached a high of €289.45 on Xetra on 3 August 2026, just before the third-quarter report, as reported by Börse Express. MarketScreener lists a one-year intraday range of €198.00 to €291.70 across its data. The gap between sources reflects different venues and intraday data.

What Drives Siemens AG Earnings

Siemens runs three main industrial businesses. Smart Infrastructure builds grid and building technology. Digital Industries sells factory automation and industrial software. Mobility makes trains and rail systems.

Smart Infrastructure and the Data Centre Boom

Smart Infrastructure posted the strongest order growth of the three divisions in the third quarter. Its third-quarter orders rose 42% to a record €8.0bn. Large data centre projects in the US and Europe drove the jump, according to the Q3 earnings call summary on Nasdaq. Its margin reached 20.0%.

Siemens data centre orders reached nearly €6bn in the first nine months of the fiscal year. That figure grew at a triple-digit rate. Data centre revenue rose more than 50% to €3.1bn. The company is preparing for 800-volt DC power systems in AI data centres, with first pilots expected in 2027, according to the same call summary.

  • Electrical products orders rose 58% in the quarter.
  • Electrification orders rose 55%.
  • Orders outside data centres still grew in the high teens.
  • The division's backlog reached €23.7bn.

Digital Industries: Recovery and Software

Digital Industries orders rose 9% to €4.9bn in the third quarter, with revenue up 10%. The margin improved to 18.7%. Software revenue rose 15%, and electronic design automation revenue rose more than 30%, per the Nasdaq call summary.

China automation orders rose 17%, per the call summary. Management expects automation orders to rise clearly in the fourth quarter. Software orders may decline against a very strong prior-year quarter.

Mobility: Big Backlog, Thin Margin

Mobility booked €7.6bn of orders in the third quarter. Its backlog reached €58bn. Its margin was 8.6%, and Siemens expects the full-year margin near the lower end of its 8% to 10% range, per the Nasdaq call summary.

Siemens expects to book most of a contract worth about €3bn with the Italian rail operator Italo in the fourth quarter, according to the call summary. US tariffs cut the Mobility margin by 170 basis points in the second quarter, according to the Q2 press call speech.

Division Q3 FY2026 orders Order growth Profit margin Backlog
Smart Infrastructure €8.0bn +42% 20.0% €23.7bn
Digital Industries €4.9bn +9% 18.7% n/a
Mobility €7.6bn n/a 8.6% €58bn

Source: Nasdaq, Siemens Q3 earnings call highlights, 6 August 2026. Quarter to 30 June 2026. Past performance is not a reliable indicator of future results.

Siemens Q3 FY2026 Results in Numbers

The third-quarter report on 6 August 2026 set several records. CEO Roland Busch commented in the Q3 FY2026 earnings release. He said: "We delivered another very successful quarter with record orders and profit."

CFO Veronika Bienert pointed to "excellent free cash flow of €4.1 billion in the third quarter" in the same release.

Measure Q3 FY2026
Orders €27.9bn (+14%)
Book-to-bill ratio 1.34
Order backlog €132bn (record)
Revenue growth +8%
Industrial Business profit €3.5bn
Industrial Business margin 17.3%
EPS pre-PPA €3.14
Free cash flow €4.1bn

Source: Siemens Q3 FY2026 earnings release and Nasdaq. Past performance is not a reliable indicator of future results.

How the Outlook Has Changed

Siemens raised its earnings outlook in February and again in August. The table tracks the range for earnings per share before purchase price allocation (EPS pre-PPA).

Date FY2026 EPS pre-PPA outlook Source
13 Nov 2025 €10.40 to €11.00 Q4 FY2025 release
12 Feb 2026 €10.70 to €11.10 Q1 FY2026 release
6 Aug 2026 €11.20 to €11.50 Q3 FY2026 release

Company outlooks are forecasts. Forecasts are not a reliable indicator of future performance.

EPS pre-PPA was €2.80 in the first quarter, €2.81 in the second and €3.14 in the third. That adds up to €8.75 for nine months. To land inside the €11.20 to €11.50 range, the fourth quarter would need €2.45 to €2.75 (own calculation from the company releases). The same quarter a year earlier delivered €2.30, according to the Q4 FY2025 release.

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Why Did the Shares Fall After a Record Quarter?

The stock dropped more than 4% on results day. Some investors had hoped for a larger guidance raise. Others worried that AI tools could pressure the industrial software business, as reported by VermögensZentrum. RBC analysts noted on 6 August that the uplift "appears less pronounced than peers", according to the same report.

This reaction is a useful reminder. Strong numbers do not always lift a share that already trades near a record. Expectations matter as much as results. Since early August, the shares have moved in a broad band between about €258 and €290, based on MarketScreener price data.

Capital Returns: Buyback and Dividend

The €6bn Siemens Share Buyback

Siemens announced a buyback of up to €6bn on 13 May 2026. It started on 1 July and can run for up to five years. By 9 October, the company had bought 4,497,911 shares for €1,233.3m, at an average price of €274.20, according to the Siemens buyback page.

Period Shares bought Average Xetra price Amount
1 to 31 Jul 2026 1,470,137 about €272.3 €400.3m
3 to 28 Aug 2026 1,156,722 about €281.6 €325.8m
31 Aug to 25 Sep 2026 1,304,198 about €269.9 €352.1m
28 Sep to 2 Oct 2026 206,489 €276.03 €57.0m
5 to 9 Oct 2026 360,365 €272.45 €98.2m
Total to 9 Oct 2026 4,497,911 €274.20 €1,233.3m

Source: Siemens, Share Buyback 2026. Monthly lines are sums of the weekly reports (own calculation). Past performance is not a reliable indicator of future results.

The buyback has used about 21% of its €6bn budget so far. Weekly purchases have ranged from about €51m to €98m. Siemens publishes a new interim report each Monday.

Siemens Dividend History

Siemens has raised its dividend every year since FY2021. The FY2025 dividend was €5.35 per share, per Siemens Investor Relations. Analysts expect about €5.60 for FY2026, according to MarketScreener estimates. At €272.10, that equals a dividend yield of about 2.1%, before taxes and costs, which may vary. Dividends are never certain and can be cut.

For a wider view on the two ways companies return cash, see this Admirals guide to share buybacks versus dividends.

The Siemens Healthineers Spin-Off

Siemens owns about 67% of Siemens Healthineers. It plans to hand 30% of Healthineers directly to its own shareholders. It then aims to reduce the remaining stake to a financial holding, according to the November 2025 ad hoc release.

Binding tax rulings arrived by August. CFO Bienert said in the Q3 FY2026 earnings release: "we can proceed with the spin-off of Siemens Healthineers as planned."

Step Timing Status
Plan announced 12 Nov 2025 Done
Timeline clarified 17 Apr 2026 Done
Binding tax rulings By Aug 2026 Received
Shareholder votes at both AGMs Feb 2027 Pending
Spin-off of 30% to Siemens shareholders After the votes Pending

Source: Siemens press release on the spin-off timeline, 17 April 2026 and Nasdaq.

Valuation: How Expensive Is Siemens?

Siemens stock trades at about 21.9 times expected earnings for the next 12 months, according to Stockopedia. On trailing earnings, the ratio is about 25.6 times, per Trading Economics. Against the midpoint of the company's FY2026 EPS pre-PPA outlook of €11.35, the multiple is about 24 times (own calculation).

Measure FY2026 estimate FY2027 estimate
Revenue €83.2bn €90.3bn
Reported EPS €10.83 €12.35
Dividend per share about €5.60 €5.87
P/E at €272.10 about 25.1 times about 22.0 times

Source: MarketScreener consensus estimates. P/E figures are own calculations. Reported EPS differs from EPS pre-PPA, so the two are not directly comparable. Forecasts are not a reliable indicator of future performance.

To read these multiples with care, the Admirals guide to the price-to-earnings ratio explains how the measure works.

Siemens Stock Forecast: What Analysts Expect

Most analysts remain positive. Average targets range from €304.96 on MarketScreener (24 analysts) to €318.75 on aktien.guide. From €272.10, those averages sit about 12% to 17% higher (own calculation). The lowest individual targets, €235 and €237.35, sit about 13% to 14% below that price. Targets are opinions and can change quickly.

Broker Rating Target Date
Evercore ISI Downgraded to In Line €315 2 Oct 2026
Berenberg Buy €330 (from €320) 18 Aug 2026
J.P. Morgan Overweight €345 (from €335) Aug 2026
Deutsche Bank Hold €270 6 Aug 2026
UBS Buy €310 Jun 2026

Source: Kapitalmarktexperten (Evercore), Goldesel (Berenberg), Börse Express (J.P. Morgan), finanzen.net (Deutsche Bank) and Börse Express (UBS). Forecasts are not a reliable indicator of future performance.

Consensus provider Analysts Average target High Low
MarketScreener 24 €304.96 €345 €235
aktien.guide 32 €318.75 €357 €237.35

Source: MarketScreener and aktien.guide, as of 9 to 12 October 2026. Forecasts are not a reliable indicator of future performance.

The Evercore Downgrade

Evercore ISI cut its rating to In Line on 2 October and kept its €315 target. The broker argued that the margin gains are largely priced in, as reported by Kapitalmarktexperten. Deutsche Bank's €270 target sits slightly below the current price.

The business is at record levels, and Evercore argues that the share price already reflects much of that strength. The FY2027 outlook on 12 November may therefore draw as much attention as the final numbers for FY2026.

Siemens Stock Chart Analysis: Support and Resistance

Since the August record, the chart shows lower highs. The stock peaked near €289 in August, then reached €286.30 on 29 September and €280.05 on 6 October. On the downside, buyers stepped in near €258 in September and €263 in October.

Level Price Basis
High zone €289.45 to €291.70 Xetra high reported on 3 Aug and one-year intraday high
Resistance 2 €286.30 High of 29 Sep 2026
Resistance 1 €280.05 High of 6 Oct 2026
Last close €272.10 9 Oct 2026
Support 1 €263.05 Low of 8 Oct 2026
Support 2 €257.65 One-month low
Support 3 about €257 to €258 200-day simple moving average
One-year low €198.00 Intraday low

Source: MarketScreener, Börse Express, TipRanks and Finanztrends. Past performance is not a reliable indicator of future results.

Momentum and the 200-Day Average

The 14-day RSI stood at a neutral 47 on 8 October, per TipRanks. The 200-day moving average sits at about €257 to €258. Finanztrends noted that a close below it would signal a break in the long-term trend.

  • A daily close above €286.30 could bring the high zone back into view.
  • A close below €257.65 could take the price under the 200-day average.
  • Between those two levels, the chart shows a sideways range.

Macro Backdrop: Interest Rates and Oil

Siemens is a cyclical stock. Its customers tend to spend more when financing is cheap and growth is firm. That makes the current macro picture important. The Admirals guide to cyclical stocks explains this link in more detail.

Indicator Latest reading Source
ECB deposit rate 2.50% (raised by 0.25 points on 10 Sep 2026) Securities.io
Euro-area inflation 3.8% in September (3.2% in August) Trading Economics
German 10-year Bund about 3.45% on 9 Oct Trading Economics
Brent crude about $104 a barrel at about 09:30 CEST on 12 Oct Trading Economics
German factory orders −10.6% m/m in August Sharecast
ifo business climate 89.9 in September (88.8 in August) ifo Institute

Latest readings available on 12 October 2026, dated in the table. Past performance is not a reliable indicator of future results.

Higher rates raise the cost of big projects. Expensive oil lifts inflation and may push the ECB to tighten further. Industrial stocks can come under pressure in such phases. The Admirals preview of the October ECB meeting covers what markets are watching on 29 October.

Siemens has limited direct exposure to the Middle East, which makes up about 3% to 4% of revenue, according to the Q2 press call speech. The indirect effects through energy prices and inflation are larger.

Siemens and the DAX

Siemens is one of the most heavily weighted stocks in the DAX 40, according to Siemens Investor Relations. The index hit a record of 26,627.7 in August and closed near 25,100 on 9 October, per Trading Economics. Moves in the index and in Siemens often go together. The Admirals guide to DAX trading gives more background.

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Siemens Next Earnings Date and Key Events

Siemens will report its fourth quarter and full fiscal year 2026 on Thursday 12 November, per the Siemens financial calendar. Europe moves to winter time on 25 October, and the US on 1 November. The times below take this into account.

Date Event CET or CEST UK time New York time
Every Monday Siemens buyback interim report n/a n/a n/a
Tue 20 Oct ZEW economic sentiment 11:05 CEST 10:05 BST 05:05 EDT
Tue 20 Oct ABB Q3 2026 results (peer) tbc tbc tbc
Mon 26 Oct ifo business climate tbc tbc tbc
Wed 28 Oct Fed rate decision 19:00 CET 18:00 GMT 14:00 EDT
Thu 29 Oct ECB rate decision 14:15 CET 13:15 GMT 09:15 EDT
Thu 12 Nov Siemens Q4 FY2026 results and FY2027 outlook morning, time tbc tbc tbc
12 to 26 Nov Siemens roadshows in London, the US, Frankfurt and Paris n/a n/a n/a
Tue 17 Nov ZEW economic sentiment 11:05 CET 10:05 GMT 05:05 EST
Thu 11 Feb 2027 Siemens Q1 FY2027 results and AGM (tbc) n/a n/a n/a

Source: Siemens, Siemens buyback page, ZEW, ABB, ifo, Federal Reserve and Admirals. Times converted by the author.

Macro release dates can also be tracked in the Admirals economic calendar.

What to Watch on 12 November

  • Analysts will compare the FY2027 outlook with consensus, keeping in mind that Siemens guides on EPS pre-PPA.
  • Fourth-quarter EPS pre-PPA can be compared with the implied range of €2.45 to €2.75.
  • Data centre orders show whether the AI-driven demand is holding up.
  • Software orders in Digital Industries were expected to decline against a tough comparison.
  • Mobility orders may include most of the Italo contract worth about €3bn.
  • The dividend proposal will be compared with the consensus of about €5.60.

Scenarios for the Siemens Stock Outlook

The scenarios below are illustrative only. They show how the shares could react to different outcomes. They are not predictions.

Scenario Possible triggers Possible chart path
Positive FY2027 outlook at or above consensus, strong data centre orders, ECB on hold, oil easing A close above €286.30 could bring the high zone near €290 back into view
Neutral Results in line with the outlook and cautious FY2027 guidance The range of about €258 to €290 could hold, while the buyback may add steady demand
Negative Another ECB hike, oil spike, weak software orders, FY2027 outlook below consensus A close below €257.65 could take the price under the 200-day average and towards lower support zones

Illustrative scenarios based on MarketScreener consensus and the levels above. Forecasts are not a reliable indicator of future performance.

Pros and Cons of Siemens Stock

A balanced view needs both sides. The table sets out the main arguments in each direction.

Pros Cons
Record orders and a €132bn backlog Valuation of about 22 times forward earnings
Strong data centre demand Data centre demand depends on one investment cycle
Free cash flow of €4.1bn in Q3 AI tools could disrupt parts of the software business
A €6bn buyback in progress Rising ECB rates and Bund yields
A rising dividend since FY2021 Mobility margin pressure from US tariffs
The Healthineers spin-off may simplify the group The spin-off still needs shareholder approval in 2027

Source: Nasdaq, Stockopedia, VermögensZentrum and the Siemens Q2 press call speech.

Key Risks for Siemens Shareholders

  • A high valuation leaves little room for disappointment.
  • A further ECB hike could weigh on industrial demand.
  • Oil above $100 keeps inflation high in Europe.
  • Data centre orders could slow if AI spending cools.
  • Competition in China could pressure automation margins.
  • A strong euro can reduce the value of revenue earned abroad.
  • Delays to the Healthineers spin-off could unsettle investors.

How Traders Often Approach Siemens Around Earnings

Earnings days often bring large moves in Siemens shares. On 6 August, the stock fell more than 4% despite record results. Traders often watch the outlook and the order trend. The price reaction in the first hour of trading also gets close attention. Some wait for the dust to settle before they act. Others reduce position sizes ahead of the release to manage risk.

Admirals offers CFDs on shares, including a Siemens AG CFD (#SIE). A full overview of CFDs on shares is available on the products page. CFDs let traders speculate on rising or falling prices without owning the share. Leverage magnifies both gains and losses. The Admirals guide to CFD trading explains how they work.

Trades can be placed on MetaTrader 5. Traders who want to practise first can open a demo account. A demo account uses virtual funds, and results may differ from live trading.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Frequently Asked Questions

What is the Siemens share price today?

Siemens closed at €272.10 on Xetra on 9 October 2026 and traded near €274.30 early on 12 October.

When is the Siemens next earnings date?

Siemens reports its fourth-quarter and full-year FY2026 results on Thursday 12 November 2026, with the FY2027 outlook expected then.

What is the Siemens stock price target?

Average analyst targets range from about €305 to €319, depending on the provider. Targets are opinions and may change.

Why did Siemens stock fall after earnings?

Shares fell more than 4% on 6 August, as some investors had hoped for a bigger outlook raise.

Is Siemens a good dividend stock?

Expected FY2026 dividends imply a yield near 2.1%, before taxes and costs, which may vary. Payouts can be cut.

What is the Siemens Healthineers spin-off?

Siemens plans to give 30% of Healthineers to its shareholders, subject to votes at both AGMs in February 2027.

What is the Siemens ticker symbol?

Siemens trades as SIE on Xetra with ISIN DE0007236101. Its US ADR trades over the counter as SIEGY.

Final Thoughts

Siemens enters the last quarter of 2026 with record orders and a rising buyback total. Its shares face pressure from higher rates and expensive oil. The 12 November report and the FY2027 outlook are the next key tests. For now, the chart shows a range of about €258 to €290.

Some of the content on this page was created with the help of automated tools. All final text has been reviewed by Admirals and is under its editorial responsibility.

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