Earnings Guidance And Market VisibilityDespite a strong finish to 2024, guidance for 2025 highlights continued lack of visibility and slow recovery in DI, which inhibits earnings momentum until H2’25.
Inventory And Demand DynamicsConsiderable uncertainty about near-term demand dynamics, thus inhibiting any further re-rating from the c13x 2026E EV/EBITA.
Valuation And Stock PerformanceInvestor concerns have been raised due to Siemens' lagging share price, and its margins are at the bottom of the peer group.