Siemens AG Revenue & Financials

Siemens AG reported fiscal year 2024 (ending September 30, 2024) revenue of approximately 75.9 billion euros, which translates to approximately 83.4 billion dollars at average FY2024 exchange rates. This represented a decline of approximately 1% in reported euro terms from FY2023, primarily due to a revenue reduction in the Digital Industries segment as customers in electronics and China destocked industrial automation components. Industrial profit — Siemens' primary segment profitability metric — reached approximately 9.6 billion euros in FY2024, implying an industrial profit margin of approximately 12.6% on comparable revenues. The Smart Infrastructure segment was the standout performer, achieving record EBITA margins near 15.5%, driven by data center-related electrical infrastructure demand. Industrial free cash flow was approximately 10.6 billion euros, reflecting strong working capital management and high fixed-asset-intensity capital expenditure discipline. Net income attributable to shareholders was approximately 6.2 billion euros, a figure influenced by non-cash items including equity method accounting for Siemens Energy's troubled Gamesa operations. Earnings per share from continuing operations were approximately 6.90 euros, supporting a dividend of 4.70 euros per share — the 11th consecutive annual dividend increase, representing approximately a 68% payout ratio and a dividend yield near 2.5% at recent market prices. Siemens' balance sheet is investment-grade rated (Standard & Poor's A+) with net industrial debt of approximately 5.4 billion euros as of fiscal year end, a conservative leverage ratio given the company's 10+ billion euro annual free cash flow generation capacity. The company maintained an active capital return program, repurchasing approximately 1.5 billion euros of shares in FY2024 against its announced 6 billion euro buyback authorization. Looking at revenue by geography, Germany contributed approximately 13% of revenues, the broader Europe region approximately 39%, Americas (predominantly United States) approximately 27%, and Asia-Pacific (including China at approximately 14%) approximately 34%. The U.S. Market has shown the strongest organic growth trajectory, driven by infrastructure stimulus spending from the Infrastructure Investment and Jobs Act and CHIPS Act-related semiconductor manufacturing construction.