Siemens Energy has moved past the worst of the Siemens Gamesa chaos phase and is now actually showing improving fundamentals:
- Gamesa is returning profitability
- strong order intake (grid and gas)
- 150-170 bil. USD market cap
The interesting part right now is that the stock is increasingly being pulled into the broader AI infrastructure trade. Everyone is focused on semiconductors, but the bottleneck is shifting toward something else: power. Data centers need grid upgrades, transmission capacity, and reliable backup generation. That’s exactly where Siemens Energy sits – not as a pure AI play, but as a “you literally can’t scale AI without this” type.
Gamesa is still a risk, even though I think, it will write profits in 2026 and SE is in relation with AI-hype.
But if the market continues expanding the AI narrative from chips → power → grid infrastructure, Siemens Energy is one of the more direct large-cap ways to express that shift.
Some numbers:
- Revenue: 43.3B$ (36-38B$ FY24)
- Net income: 1.8B$ (0,5B$ FY24)
- free cashflow: 8.6B$ (3-4B$ FY24)
- New orders: 48-50B$ (40-42B$ FY24)
TL;DR: SE is a good chance right now.