by
Gus Iversen, Editor in Chief | August 06, 2025
Siemens Healthineers reported solid financial results for the third quarter of fiscal year 2025, ending June 30, with notable growth in revenue, earnings, and cash flow across several of its business segments.
The company saw comparable revenue increase by 7.6% year over year to €5.66 billion, driven largely by double-digit growth in its imaging segment and strong performance in its Varian oncology business. Adjusted EBIT rose 15% to €953 million, boosting the company’s overall EBIT margin to 16.8%, up from 15.2% in the same quarter last year. Net income climbed 18% to €556 million, and adjusted earnings per share rose 23% to €0.64.
Free cash flow exceeded expectations, reaching €844 million — more than 50% higher than the year-ago period. The book-to-bill ratio for equipment was 1.09, indicating healthy demand.
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In segment breakdowns, Imaging led the quarter with an 11.7% rise in comparable revenue, reaching €3.24 billion. Strong demand for molecular imaging and CT scanners contributed to the segment’s 21.0% adjusted EBIT margin. The Varian segment followed with 8.7% revenue growth and an 18.8% margin, supported by demand in China, Asia Pacific, and the Americas.
The diagnostics business continued to face headwinds, reporting a 0.6% drop in comparable revenue. However, profitability improved, with an adjusted EBIT margin rising to 9.2% from 7.4% the prior year, reflecting cost efficiencies from its ongoing transformation program. Advanced therapies saw a 4.5% revenue bump, though margins fell to 10.5% due to tariffs and currency effects.
Regionally, the Americas posted 12% comparable revenue growth, while China rebounded with 6% growth following a weak prior-year quarter. The EMEA region saw slower momentum at 1% growth.
Citing strong year-to-date performance and trade tariff agreements, the company tightened and raised the midpoint of its full-year guidance. It now forecasts fiscal 2025 comparable revenue growth between 5.5% and 6%, and adjusted earnings per share between €2.30 and €2.45.
