Siemens Energy AG stock opened sharply higher on Thursday, 27 November 2025, as investors continued to respond to the company’s powerful mix of a €6 billion share buyback, the return of dividends, and upgraded mid‑term profit targets.
Frankfurt‑listed shares started the session around €114.70, up a little over 2% from Wednesday’s close near €112.20. That leaves the stock only about 3% below its record high around €118, set last week, and far above its 52‑week low just over €41.
With a free‑float market capitalization of roughly €89 billion and a weight of about 4.3% in the DAX, Siemens Energy now ranks among Germany’s most valuable listed companies.
Key takeaways for Siemens Energy AG stock on 27 November 2025
- Shares trade near record territory: Opened around €114.70, up about 2.2% on the day and only a few percent below the recent all‑time high around €118.
- Massive shareholder returns announced: Management plans to return up to €10 billion to shareholders by 2028, including up to €6 billion in share buybacks. [1]
- Dividend is back: Siemens Energy has proposed a €0.70 per share dividend, its first payout in four years, after delivering a strong FY 2025.
- Growth outlook upgraded: The company now targets low‑teens annual revenue growth and 14–16% operating margins (before special items) by fiscal 2028, up from previous guidance in the high single digits and 10–12%.
- Analysts are turning more bullish: Recent weeks have brought multiple upgrades, including Berenberg lifting its price target to €130 and maintaining a Buy rating, and Jefferies upgrading the stock to Buy with a €134 target.
- AI and data centres are key themes: Demand from power‑hungry AI data centres and grid bottlenecks is a central driver of the company’s upbeat outlook and investor enthusiasm. [2]
Siemens Energy AG stock price today: near record highs again
According to German outlet Welt, Siemens Energy’s share price closed around €112.20 on Wednesday and opened Thursday’s session at roughly €114.70, a gain of about 2.23%. The same report notes a 52‑week high near €118.15 and a 52‑week low around €41.81, underlining how far the stock has run over the past year.
Data from the Financial Times and other market trackers show similar levels, with intraday trading around €115 on Thursday and a 52‑week band of roughly €42–118. [3]
After being a problem child during its 2023 crisis, Siemens Energy has turned into one of the top performers in the DAX, with the share price more than doubling in 2025 and even higher gains cited by some European financial media.
Depending on the data provider and FX assumptions, Siemens Energy’s equity valuation now sits in the region of €90–100 billion (around $100 billion+), making it one of the largest pure‑play energy equipment companies globally.
At the same time, that rally means the stock is no longer cheap: some platforms put the current price/earnings ratio north of 60x, well above the broader market, reflecting high expectations for sustained growth and margin expansion.
Fresh catalysts on 27 November 2025
1. Berenberg lifts price target to €130
On or around 27 November, Berenberg raised its price target on Siemens Energy to €130 from €122, keeping a Buy recommendation. The analysts highlighted:
- a hefty order book and tight capacity in gas turbines and grid equipment,
- strong pricing power as demand exceeds supply, and
- the potential for up to around €2 billion in annual share buybacks over the next few years, powered by robust free cash flow.
That note adds to a wave of positive research coverage this month. Earlier in November, Jefferies upgraded Siemens Energy from Hold to Buy and boosted its target price to €134, pointing to what it sees as roughly 40% EBITDA CAGR potential and margin upside versus consensus expectations.
A separate Seeking Alpha article recently rated Siemens Energy a “Strong Buy” with a high triple‑digit price target, underscoring how some investors view the stock as a long‑term AI and energy‑transition winner.
2. New data‑centre collaboration spotlight
Also today, Siemens Energy is prominently featured in the “Eaton & Siemens Energy Construction Innovation Day” on DatacenterDynamics’ Data Center Construction channel. The event, streamed on 27 November, focuses on how to deliver grid‑independent onsite power and modular data‑centre solutions fast enough to keep up with AI‑driven demand. [4]
The sessions, featuring Siemens Energy executives alongside power‑management giant Eaton, explore:
- forecasts for data‑centre power demand,
- options for onsite generation when grid connections are delayed, and
- modular, scalable designs to shorten time‑to‑revenue for hyperscalers and colocation operators. [5]
While this is a marketing and thought‑leadership event rather than a hard financial announcement, it reinforces the same theme that runs through Siemens Energy’s recent earnings and guidance: data centres and AI are now a structural pillar of its growth story. [6]
From crisis to comeback: Q4 2025 results and dividend restart
The current rally is rooted in the company’s Q4 FY 2025 earnings, released on 14 November. Siemens Energy reported: [7]
- Q4 revenue of €10.4 billion, up around 9–10% on a comparable basis,
- a swing to quarterly profit with net income of €236 million (vs a loss a year earlier),
- strong profit before special items of €471 million,
- free cash flow pre‑tax of about €1.33 billion, and
- an order backlog reaching a new record of around €138 billion.
For the full fiscal year 2025, Siemens Energy delivered:
- Revenue of roughly €39.1 billion, up more than 15% on a comparable basis,
- orders of about €58.9 billion, up nearly 20%,
- profit before special items of €2.36 billion, versus just €345 million in FY 2024,
- net income of roughly €1.7 billion, and
- free cash flow pre‑tax of about €4.7 billion, more than doubling year‑on‑year.
On the back of this turnaround, the company has proposed a dividend of €0.70 per share for FY 2025—its first payout since 2021 and the highest since the spin‑off from Siemens AG.
This dividend is particularly symbolic because Siemens Energy spent 2023 under a government‑backed €11 billion guarantee facility, which came with a dividend ban. That facility was successfully replaced in June 2025, allowing the board to reinstate shareholder payouts once the balance sheet had been repaired. [8]
Capital returns: €6 billion buyback and up to €10 billion for shareholders
At its capital markets day on 20 November 2025, Siemens Energy went a step further, unveiling a multi‑year capital‑return roadmap: [9]
- Up to €6 billion in share buybacks by the end of FY 2028.
- A total cash return to shareholders of up to €10 billion over the same period when dividends are included.
Reuters reported that the announcement initially drove the shares up as much as 8.4% to a record high, as investors interpreted the move as a sign of confidence in Siemens Energy’s sustained cash‑generation capacity.
Analysts have largely welcomed the plan. Citi, for example, has argued that the buyback could help close the valuation gap to U.S. rival GE Vernova, while other brokers highlight that Siemens Energy is now committing to return roughly one‑third of available cash to shareholders, similar to its closest peers. [10]
The share‑repurchase announcement was formally made via an ad‑hoc release, confirming that the company plans to buy back its own shares up to a total of €6 billion by FY 2028. [11]
Investing for growth: €2 billion grid programme and AI‑driven demand
Capital returns are being paired with heavy reinvestment in the business, especially in the power‑grid segment. In presentations and interviews around the capital markets day, Siemens Energy outlined plans to invest roughly €2 billion in its global network of transformer and switchgear factories by 2028. [12]
Key points from the grid strategy include: [13]
- Expanding and modernising transformer plants in Europe, North America and other regions to address global transformer shortages.
- Targeting a 14–16% profit margin in the Grid Technologies division by FY 2028, above already‑strong current levels.
- Leveraging an order backlog that is heavily skewed toward long‑duration grid projects linked to the energy transition and data‑centre expansion.
On the gas‑turbine side, Siemens Energy has raised its estimate of long‑term global demand to more than 100 GW per year between 2026 and 2035, compared with around 85 GW in 2025. The company plans to lift its combined‑cycle gas‑turbine capacity to over 30 GW by 2030, aiming to maintain roughly 30% global market share. [14]
Energy‑intensive AI and cloud computing are crucial to this thesis. Both Siemens Energy’s own statements and independent coverage by Reuters, the Financial Times and Investing.com stress that: [15]
- AI‑driven data centres are pushing up electricity demand faster than previously expected.
- Utilities and grid operators must invest heavily in high‑voltage equipment, transformers and HVDC links.
- Flexible gas capacity remains an important backup for variable renewables, supporting turbine orders and aftermarket services.
That combination of structural demand and pricing power is at the heart of the recent upgrades from Berenberg, Jefferies and others.
Risks investors should still keep in mind
Despite the strong momentum, Siemens Energy AG stock is not risk‑free.
- Siemens Gamesa turnaround
The wind‑turbine subsidiary has been a drag for years. Although FY 2025 results showed shrinking losses and management now expects Siemens Gamesa to break even in FY 2026, execution risk remains high in a volatile wind market with ongoing quality and contract challenges. [16] - Execution on huge backlog and capex
With an order backlog of roughly €138 billion, Siemens Energy must execute complex, long‑duration projects on time and on budget while simultaneously expanding factory capacity. Cost overruns, supply‑chain frictions or permitting delays could erode margins. [17] - Macro and policy exposure
The company is tightly linked to energy policy, regulation and grid planning. Changes in subsidy schemes, permitting rules or public budgets could slow project pipelines. - Valuation and sentiment risk
After a gain of more than 100% this year and a P/E ratio significantly above the market, the stock is vulnerable to sentiment swings, especially if the current AI and infrastructure investment boom cools off. - Legacy of past crises
The memory of the 2023 government‑backed rescue and quality issues at Siemens Gamesa is still fresh. Any sign of renewed technical problems or large one‑off charges could quickly undermine the rebuilt confidence.
What today’s move may mean for Siemens Energy AG shareholders
Today’s strong open on 27 November 2025 confirms that the market continues to digest November’s wave of good news:
- A clean break from the bailout era,
- Record revenue and cash flow,
- A return to dividends,
- A multi‑billion‑euro buyback, and
- An upgraded growth and margin roadmap out to 2028. [18]
At the same time, the stock already embeds very high expectations about Siemens Energy’s ability to monetise AI‑driven grid and gas‑turbine demand while turning around its wind business. For long‑term investors, the story now hinges on:
- How quickly and aggressively the €6 billion buyback is executed,
- Whether Siemens Gamesa hits its 2026 break‑even goal,
- Progress on the €2 billion grid investment programme, and
- The sustainability of AI and data‑centre–related power demand over the next decade.
References
1. www.siemens-energy.com, 2. www.investing.com, 3. www.investing.com, 4. www.datacenterdynamics.com, 5. www.datacenterdynamics.com, 6. www.investing.com, 7. www.siemens-energy.com, 8. www.siemens-energy.com, 9. www.siemens-energy.com, 10. www.investing.com, 11. www.siemens-energy.com, 12. energynews.pro, 13. energynews.pro, 14. www.investing.com, 15. www.investing.com, 16. www.siemens-energy.com, 17. energynews.pro, 18. www.siemens-energy.com
