Koninklijke Philips NV ADR Dossier
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SectorHealth Care IndustryHealth Care Equipment Beta (adjusted)0.83 Intrinsic Value $28.91median of 5 methods · middle span $23-$29based on filings through 31 Dec 2025 Market Price $23.81Price as of 1 Oct 2026 UndervaluedIntrinsic value is 21% above the market price −50% · IV below pricenear fair value ±15%IV above price · +50% Data confidence Sign in to view data confidence Market Cap $23.3B Shares Outstanding 948.2M diluted Moat Rating Wide Next Earnings Date3 Nov 2026 Last ex-dividend13 May 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Philips entered the second half of 2026 with 4% comparable sales growth across all segments and reiterated its 3%-4.5% full-year growth outlook. The balanced stance reflects three offsets: Q2 comparable order intake declined 1%; the reported 16.4% adjusted EBITA margin included an effective 4.2-percentage-point US tariff-refund benefit; and Respironics-related governmental and securities proceedings remain unresolved. The medium-term plan offers upside through mid-single-digit comparable-sales growth, a mid-teens adjusted EBITA margin in 2028 and EUR 1.5 billion of productivity savings over 2026-2028. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$26.75 Mean target$32.21 High · most bullish analyst$41.00 Our research · scenarios, merits, risks, and invalidation triggersResearch as of 2 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $26.7520% The Q2 order-intake decline proves more persistent than management's timing explanation, underlying profitability remains pressured after excluding the tariff-refund benefit, and an adverse Respironics proceeding creates additional cash or compliance burdens. Base CaseCentral scenario $32.2155% Matches the consensus meanPhilips delivers within its 2026 comparable-sales-growth outlook of 3%-4.5% and adjusted EBITA-margin outlook of 13.5%-14.0%, while productivity broadly offsets tariffs and inflation. Respironics proceedings remain manageable but constrain rerating. Bull CaseUpside scenario $41.0025% Growth remains broad-based, delayed North American Connected Care orders convert in subsequent quarters, platform innovations support favorable mix, and Philips advances toward its 2028 mid-teens adjusted EBITA-margin target. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |