Siemens AG Due Diligence

Run due diligence on Siemens AG: check compliance and get alerts when suppliers or ownership change.

Germany · owned by Independent (Germany) · siemens.com · 55 vendors

Siemens AG is a global technology conglomerate headquartered in Munich, Germany, focused on industry, infrastructure, transport, and healthcare. The company develops and manufactures products and solutions for industrial automation, smart infrastructure, digital industries, and mobility. Siemens drives digital transformation through software, automation technology, and electrification across multiple sectors worldwide.

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45 services in catalogue across 7 categories; runs on 55 sub-vendors.

Insights

Last updated 2026-10-08 · revision 18

55 direct vendors, 296 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

11 in-scope frameworks identified; showing 3.

CRA — Evidence found

As a manufacturer of a vast range of products with digital components sold in the EU, from industrial control systems to consumer appliances, Siemens will be subject to the requirements of the Cyber Resilience Act.

Evidence: https://www.siemens.com/en-us/company/digital-transformation/cybersecurity/, https://www.siemens.com/en-us/company/digital-transformation/cybersecurity/eu-cra/, https://www.siemens.com/en-us/campaigns/future-ready-machine-building/, https://www.siemens.com/en-us/products/industrial-digitalization-services/cybersecurity-assessment/

ISO 27001 (source) — Evidence found

As a global technology company, customers and partners in many sectors expect Siemens to adhere to internationally recognized standards for information security management, making ISO 27001 a de facto requirement.

Evidence: https://www.siemens.com/en-us/company/digital-transformation/cybersecurity-governance/, https://www.siemens-healthineers.com/en-us/support-documentation/cybersecurity, https://www.siemens-healthineers.com/fr-lu/support-documentation/cybersecurity, https://www.siemens.com/en-us/company/software-trust-center/cybersecurity-governance/, https://www.siemens.com/en-us/company/certifications-italy/, https://www.siemens.com/en-us/system-certificates/

LkSG (source) — Evidence found

As a large German company with extensive global supply chains, Siemens AG is subject to the German Lieferkettensorgfaltspflichtengesetz (LkSG), which mandates due diligence on human rights and environmental risks in its supply chain.

Evidence: https://www.siemens.com/en-us/company/compliance/data-privacy/trust-center/data-privacy-management/, https://yelza.com/dax40/siemens-ag-history-key-figures-and-share-price-development, https://www.mobility.siemens.com/global/en/transform-mobility/sustainability/supply-chain-due-diligence-act.html, https://en.wikipedia.org/wiki/Siemens, https://assets.new.siemens.com/siemens/assets/api/uuid:428ea18a-e7ab-4f93-a160-33908f1c3540/Siemens-Annual-Report-2025.pdf, https://www.siemens-healthineers.com/company/compliance

Financials

Three-year financials

Financial Resilience Score: 9/10

Siemens AG demonstrates exceptional financial resilience, backed by a diversified industrial technology portfolio spanning automation software, electrification, rail, and medical imaging. All four industrial segments were profitable in FY2025, and the company reached record net income of €10.4B (+16% YoY) and record Profit Industrial Business of €11.8B. Cash generation is a standout strength, with free cash flow of €10.8B in FY2025, and the balance sheet is fortress-like with ~41% equity ratio and Industrial net debt/EBITDA of just 0.9x. The record order backlog of €120B at end of Q1 2026 provides multi-year revenue visibility, particularly at Mobility. Pension obligations have fallen to a historic low of €0.7B. Current FY2026 trajectory remains strong, with Q3 FY2026 Profit Industrial Business surging 25% to €3.5B at 17.3% margin. However, near-term risks include FX headwinds expected to burden FY2026 nominal growth, China softness (-12% in FY2025), declining ROCE (17.8% vs 19.1%), and complexity from the planned deconsolidation of Siemens Healthineers.

Key strengths: Record FY2025 net income of €10.4B (+16% YoY) and record Profit Industrial Business of €11.8B, Record free cash flow of €10.8B in FY2025, Fortress balance sheet with ~41% equity ratio and Industrial net debt/EBITDA of 0.9x, Record order backlog of €120B providing multi-year revenue visibility, Diversified portfolio across Digital Industries, Smart Infrastructure, Mobility, and Healthineers, Pension obligations at historic low of €0.7B, Strong U.S. market exposure (28% of revenue) driven by data-center and electrification demand, Software strategy expanded via Altair and Dotmatics acquisitions

Risk factors: FX headwinds expected to strongly burden FY2026 nominal growth and EPS, China revenue declined 12% in FY2025 to €7.1B, ROCE declined from 19.1% (FY2024) to 17.8% (FY2025) due to Altair/Dotmatics capital deployment, Mobility margin volatility with Q4 FY2025 margin at low end of guided range, Rising severance charges reflecting restructuring, especially in Digital Industries, Planned deconsolidation of Siemens Healthineers will materially reshape financials, Digital Industries profit fell 24% in FY2025 to €2.64B, Goodwill rose to €40.7B from €31.4B following acquisitions

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