Siemens posts record FY2026 orders and raises Industrial AI targets

Siemens AG said on November 12, 2026 that it completed fiscal 2026 with record orders, profit and free cash flow, helped by demand for electrification, digitalization and Industrial AI.

Comparable revenue rose 8% to €83.4 billion from €78.9 billion a year earlier, while comparable orders increased 25% to €108.2 billion from €88.4 billion. The order backlog reached a record €143 billion, up from €117 billion at the end of fiscal 2025, and the book-to-bill ratio improved to 1.30 from 1.12.

Profit at the Industrial Business rose 13% to €13.3 billion and the margin expanded to 16.3% from 15.4%. Group free cash flow reached a record €12.1 billion, compared with €10.8 billion a year earlier. Net income fell to €9.5 billion from €10.4 billion because the prior-year figure included a €2.1 billion gain on the sale of Innomotics.

Siemens said revenue in its digital business grew 16% to €10.9 billion, while Digital Industries software revenue increased 13% on a comparable basis to €7.2 billion and annual recurring revenue rose 12% to €6.1 billion. Earnings per share before purchase-price allocation were €11.76, above the company’s fiscal 2026 guidance of €11.20–€11.50.

The company raised its medium-term comparable revenue-growth target to 7%–11% from 6%–9% and now expects double-digit growth in EPS before purchase-price allocation, versus its previous high-single-digit target. The boards will propose a dividend of €5.50 per share, up from €5.35, while Siemens also plans to transfer 34.1% of its stake in Siemens Healthineers to shareholders as part of a previously announced spin-off.

Sources

1. Siemens, Outstanding fiscal 2026 performance – Industrial AI to drive future growth, November 12, 2026