SIEMENS 2016-17 Annual Report Analysis

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

SIEMENS 2016-17 Annual Report Analysis
Thu, 20 Dec

SIEMENS has announced its results for the year ended September 2017. Let us have a look at the detailed performance review of the company during FY16-17.

SIEMENS Income Statement Analysis

  • Operating income during the year rose 1.9% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 3.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 9.5% in FY as against 9.4% in FY.
  • Depreciation charges decreased by 13.2% and finance costs decreased by 15.4% YoY, respectively.
  • Other income grew by 54.9% YoY.
  • Net profit for the year declined by 61.1% YoY.
  • Net profit margins during the year declined from 26.6% in FY to 10.1% in FY.

SIEMENS Income Statement 2016-17

No. of Mths Year Ending 12 Sep-16* 12 Sep-17* % Change
Net Sales Rs m 108,095 110,148 1.9%
Other income Rs m 1,644 2,547 54.9%
Total Revenues Rs m 109,739 112,695 2.7%
Gross profit Rs m 10,204 10,512 3.0%
Depreciation Rs m 2,264 1,966 -13.2%
Interest Rs m 91 77 -15.4%
Profit before tax Rs m 9,493 11,016 16.0%
Tax Rs m 10,245 5,355 -47.7%
Profit after tax Rs m 29,171 11,336 -61.1%
Gross profit margin % 9.4 9.5
Effective tax rate % 107.9 48.6
Net profit margin % 26.6 10.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



SIEMENS Balance Sheet Analysis

  • The company's current liabilities during FY stood at Rs 52 billion as compared to Rs 49 billion in FY, thereby witnessing an increase of 5.7%.
  • Current assets rose 10% and stood at Rs 103 billion, while fixed assets rose 7% and stood at Rs 14 billion in FY.
  • Overall, the total assets and liabilities for FY stood at Rs 131 billion as against Rs 120 billion during FY, thereby witnessing a growth of 10%.

SIEMENS Balance Sheet as on September 2017

No. of Mths Year Ending 12 Sep-16* 12 Sep-17* % Change
Networth Rs m 68,208 77,047 13.0
 
Current Liabilities Rs m 48,806 51,570 5.7
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 119,539 131,231 9.8
 
Current assets Rs m 93,163 102,610 10.1
Fixed Assets Rs m 12,778 13,695 7.2
Total Assets Rs m 119,539 131,231 9.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



SIEMENS Cash Flow Statement Analysis

  • SIEMENS's cash flow from operating activities (CFO) during FY stood at Rs 6 billion, an improvement of 8.9% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY stood at Rs 13 billion, an improvement of 448.5% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY stood at Rs -3 billion, an improvement of 84% on a YoY basis.
  • Overall, net cash flows for the company during FY stood at Rs 16 billion from the Rs -9 billion net cash flows seen during FY.

SIEMENS Cash Flow Statement 2016-17

Particulars No. of months 12 12 % Change
Year Ending Sep-16 Sep-17
Cash Flow from Operating Activities Rs m 5,084 5,538 8.9%
Cash Flow from Investing Activities Rs m 2,396 13,141 448.5%
Cash Flow from Financing Activities Rs m -16,123 -2,598 -
Net Cash Flow Rs m -8,642 16,071 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for SIEMENS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 31.8, an decline from the EPS of Rs 81.9 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,001.9, stands at 39.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 5.7 times, while the price to sales ratio stands at 4.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 26.8 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Sep-16* 12 Sep-17*
Sales per share (Unadj.) Rs 303.5 309.3
TTM Earnings per share Rs 81.9 31.8
Diluted earnings per share Rs 81.9 31.8
Price to Cash Flow x 11.3 26.8
TTM P/E ratio x 39.9 39.9
Price / Book Value ratio x 6.2 5.7
Market Cap Rs m 356,779 356,779
Dividends per share (Unadj.) Rs 6.0 7.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for SIEMENS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.0x during FY, from 1.9x during FY. The current ratio measures the company's ability to pay short-term and long-term obligations.

    Interest Coverage Ratio: The company's interest coverage ratio deteriorated and stood at 144.1x during FY, from 105.3x during FY. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company declined and down at 14.7% during FY, from 42.8% during FY. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

    Return on Capital Employed (ROCE): The ROCE for the company declined and down at 21.8% during FY, from 57.9% during FY. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

    Return on Assets (ROA): The ROA of the company declined and down at 8.7% during FY, from 24.5% during FY. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Sep-16* 12 Sep-17*
Current ratio x 1.9 2.0
Debtors’ Days Days 101 113
Interest coverage x 105.3 144.1
Debt to equity ratio x 0.0 0.0
Return on assets % 24.5 8.7
Return on equity % 42.8 14.7
Return on capital employed % 57.9 21.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how SIEMENS has performed over the last 5 years, please visit here.

SIEMENS Share Price Performance

Over the last one year, SIEMENS share price has moved up from Rs 1,196.4 to Rs 1,001.9, registering a loss of Rs 194.5 or around 16.3%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,763.4 (down 0.2%). Over the last one year it has moved up from 18,684.3 to 18,763.4, a gain of 79 points (up 0.4%).

Overall, the S&P BSE SENSEX is up 7.4% over the year.

(To know more, check out historical annual results for SIEMENS and quarterly results for SIEMENS)

Equitymaster requests your view! Post a comment on "SIEMENS 2016-17 Annual Report Analysis". Click here!

  

Related Views on News

SIEMENS 2017-18 Annual Report Analysis (Annual Result Update)

Sep 24, 2019 | Updated on Sep 24, 2019

Here's an analysis of the annual report of SIEMENS for 2017-18. It includes a full income statement, balance sheet and cash flow analysis of SIEMENS. Also includes updates on the valuation of SIEMENS.

SIEMENS Announces Quarterly Results (1QFY20); Net Profit Up 21.4% (Quarterly Result Update)

Aug 8, 2019 | Updated on Aug 8, 2019

For the quarter ended June 2019, SIEMENS has posted a net profit of Rs 2 bn (up 21.4% YoY). Sales on the other hand came in at Rs 32 bn (up 4.1% YoY). Read on for a complete analysis of SIEMENS's quarterly results.

SIEMENS Announces Quarterly Results (4QFY19); Net Profit Up 27.6% (Quarterly Result Update)

May 16, 2019 | Updated on May 16, 2019

For the quarter ended March 2019, SIEMENS has posted a net profit of Rs 3 bn (up 27.6% YoY). Sales on the other hand came in at Rs 35 bn (up 8.1% YoY). Read on for a complete analysis of SIEMENS's quarterly results.

Garden Reach Shipbuilders and Engineers Ltd: Is This PSU Shipbuilder Worth Betting On? (IPO)

Sep 24, 2018

Should you apply for the IPO of Garden Reach Shipbuilders and Engineers Ltd?

H.G Infra Engineering Ltd. (IPO)

Feb 24, 2018

Should you subscribe to the IPO of H.G Infra Engineering Ltd.?

More Views on News

Most Popular

Bet on These Smallcap Stocks for Success in 2020(Profit Hunter)

Jan 14, 2020

The smallcap rebound finally seems to here... Make sure you aren't too late to make the most of the biggest wealth making opportunity in a decade.

Guess Which Stocks Are Rising at Double the Speed of Sensex(Profit Hunter)

Jan 15, 2020

These stocks can move twice as fast as the Sensex - to take advantage of their money multiplying power get in now as the rally is still just taking shape.. read more to not miss out.

How to Buy the Best Safe Stocks in 2020(The 5 Minute Wrapup)

Jan 17, 2020

Don't fall for the safe stocks narrative going around in the stock market these days.

For 1,000%+ Gains, Follow the 8-Year Cycle in the Stock Market(Fast Profits Daily)

Jan 17, 2020

This is how the biggest trading profits are made.

What the Infosys Results Tell Us About the Next Infosys(The 5 Minute Wrapup)

Jan 15, 2020

If you're interested in the next Infosys, I'll tell you where to look.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get our special report, Secret to Increasing Your Trading Profits Today Now!
We will never sell or rent your email id.
Please read our Terms

TRACK SIEMENS

  • Track your investment in SIEMENS with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

COMPARE SIEMENS WITH

MARKET STATS