Siemens Energy earnings
MyStockButler's October 2026 analysis: Siemens Energy's next results are expected on November 11, 2026. Watch whether higher earnings can survive higher commitments.
What has Siemens Energy guided for the year?
For FY2026, Siemens Energy guides to comparable revenue growth of 14.0%–16.0%. It expects a Profit margin before Special items of 10.0%–12.0%, toward the upper end, net income around €4 billion and pretax free cash flow around €8 billion. Comparable growth removes currency and ownership changes, so it shows the underlying businesses more clearly.
| Period | Low | High | Given on | |
|---|---|---|---|---|
| Comparable revenue growth | FY2026 | 14.0% | 16.0% | Sep 30, 2026 |
| Profit margin before Special items | FY2026 | 10.0% | 12.0% | Sep 30, 2026 |
| Net income | FY2026 | 4 | 4 | Sep 30, 2026 |
| Free cash flow pre tax | FY2026 | 8 | 8 | Sep 30, 2026 |
| Grid Technologies, Profit margin before Special items | FY2026 | 18.0% | 20.0% | Aug 5, 2026 |
| Siemens Gamesa, Profit margin before Special items | FY2026 | 0.0% | 0.0% | Aug 5, 2026 |
What this means. The order backlog conversion amounts are already included in the revenue forecast, so they should not be added on top of the revenue guidance.
Has Siemens Energy kept its past promises?
Management’s delivery record merits 3/5. Across four assessed years, revenue beat guidance three times and pretax free cash flow beat it every year. Net income beat guidance twice and missed twice. Russia disrupted one year, while wind defects and factory-ramp problems caused another disappointment; later, more cautious promises helped restore credibility.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Comparable revenue growth | 4 years | 3 | 0 | 1 |
| Free cash flow pre tax | 4 years | 4 | 0 | 0 |
| Net income (loss) | 4 years | 2 | 0 | 2 |
What are Siemens Energy's last eight reported periods showing?
Revenue, gross margin, operating income, net income and diluted earnings per share all improved substantially against the same quarter a year earlier. The improvement therefore came from stronger operations as well as from accounting or financing effects.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11,447 | 10,294 | 9,675 | 10,428 | 9,745 | 9,962 | 8,942 | 9,741 |
| Gross margin | 23.3% | 21.9% | 21.6% | 16.0% | 15.8% | 19.8% | 15.6% | 11.1% |
| Operating income | 1,515 | 1,062 | 962 | 283 | 909 | 557 | 399 | -178 |
| Net income attributable to Siemens Energy AG shareholders | 1,083 | 766 | 677 | 168 | 615 | 433 | 198 | -292 |
| EPS, diluted | 1.26 | 0.88 | 0.78 | 0.19 | 0.70 | 0.49 | 0.23 | -0.34 |
What this means. Free cash flow is lower than cash from operations because this table also subtracts spending on equipment, lease payments, and interest paid.
What should I watch in Siemens Energy's next release?
The next decisive evidence will show whether higher earnings can survive higher commitments.
On November 11, 2026, Siemens Energy plans to publish FY2026 results, FY2027 guidance, FY2030 targets and an updated capital-allocation framework. The next FY2027 results are scheduled for February 11 and May 13, followed by August 5. Together they should show whether new capacity and better-priced orders are working.