Influence of Siemens Energy on the DAX 40
Since its inclusion in the DAX 40 in 2021, Siemens Energy has grown to a mid-sized position within the index, with a market capitalization of €76.67 billion, accounting for a significant weighting of 2.36%. Siemens Energy's share price performance influences sentiment around energy transition stocks and infrastructure within the DAX. View the full composition of the DAX 40, including the weighting of all companies here.
Investment analysis & outlook
Siemens Energy shares have experienced a remarkable share price appreciation of over 280% over the past 12 months, outperforming the DAX index by a wide margin. As visible in the chart, the rally started after the low in mid-2023, when concerns around Siemens Gamesa depressed sentiment. From late 2023, the price began to recover sharply, with an accelerating upward trend in 2024 that ended in a record low of €99.10 in June 2025.
The strong share price movement was supported by very good quarterly results. In the second quarter of 2025, Siemens Energy posted revenue growth of over 20% to €10 billion. Profit before special items was €906 million, with a margin of 9.1%. Operational strength was also evident: free cash flow before tax came to €1.39 billion, significantly higher than a year earlier. The order book reached an all-time high of €133 billion, providing a solid foundation for future sales.
Looking ahead, Siemens Energy raised expectations. Revenue growth for 2025 is estimated at 13 - 15%, with net profit of up to €1 billion and free cash flow potentially moving toward €4 billion. Despite residual risks at Siemens Gamesa and geopolitical uncertainties, the strong performance in gas services, power grids and infrastructure provides confidence. The chart clearly shows how the stock has experienced a powerful trend reversal since 2023.
News & updates
April 2025 Siemens Energy significantly raised its revenue and profit forecasts after strong results in Q2, despite concerns about U.S. import tariffs. Order backlog and project execution proved stronger than expected, leading management to set new midterm targets: profit open margin 10 - 12% by 2028, with expected annual revenue growth of 8-10%.
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