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Koninklijke Philips N.V.

PHG Healthcare Medical Devices

Koninklijke Philips N.V.’s revenue for fiscal 2025 (year ended December 2025) was $20.2 billion, up 3.47% from fiscal 2024. In the quarter to June 2026, revenue grew 2.94%, EPS grew 56.7%, free cash flow grew 49.7% and total debt fell 9.93%, each against the same quarter a year earlier.

25.74 0.25 +0.98%
Market cap
$24.9B
P/E
18.8×
Fwd P/E
11.2×
Dividend yield
3.94%
F-score
7/9
Altman Z
1.98
Beneish M
−2.68
Dividend safety
55/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 24,910.00
Revenue 20,576.48
Net Income 1,279.24
Free Cash Flow 1,849.65
Net Debt 5,190.29
Current Ratio 1.26
Debt/Equity 0.55
P/E ratio 18.80
Fwd P/E 11.20
P/S ratio 1.20
P/B ratio 1.84
Past 5Y EPS Growth (6.51%) (below 0%: weak)
This Y EPS Growth (0.60%) (below 0%: weak)
Next Y EPS Growth 2.18%
Next Y revenue growth (99.58%) (below 0%: weak)
Next 5Y EPS Growth 4.36%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.4×, against a ten-year median of 1.5×; over the ten years it ranged from 0.7× in 2022 to 2.1× in 2018.
P/E against its own 10 years 32.07%
10-year low 10-year high
P/S against its own 10 years 39.29%
10-year low 10-year high
P/B against its own 10 years 28.97%
10-year low 10-year high
EV/Sales against its own 10 years 46.89%
10-year low 10-year high
EV/FCF against its own 10 years 43.22%
10-year low 10-year high

Dividends

Payout Ratio 0.75
Annual Dividend Rate 1.01
Annual Dividend Yield 3.94%
total individual payouts
2026 0.02
1.01
2025 0.02
0.97
2024 Powerpack
2022 0.88
0.88
2021 1.00
1.00
2020 0.94
0.94
2019 0.93
0.93
2018 0.91
0.91
2017 0.87
0.87
2016 0.87
0.87
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2,075 2,675 3,253 2,153
Receivables 4,278 4,709 4,062 4,182
Inventory 3,778 3,461 3,247 3,739
Other 627 634 674 774
10,758 10,845 11,237 10,848
2023 2024 2025 Q'26
Payables 2,075 1,980 2,180 2,418
ST’ Debt — — — —
Other 4,033 4,425 2,977 2,960
8,969 8,815 8,496 8,630

Compound Annual Growth %

10y 5y 3y
Sales (2.84%) (1.99%) 2.42%
Cash Flow 0.23% (16.01%) 0.00%
Earnings 3.52% (5.67%) 0.00%
Book Value (0.51%) (1.77%) (3.87%)

Revenue $m

Mar Jun Sep Dec Year
’26 4,570 5,069 — — —
’25 4,316 4,924 5,029 5,908 20,177
’24 — 4,805 4,813 — 19,501
’23 4,473 4,874 4,866 — 19,664
’22 4,397 4,445 4,341 10,353 18,783
’21 4,614 5,097 4,901 10,340 20,297
’20 4,588 4,839 5,822 13,557 22,315
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 220 436 — — —
’25 (983) 363 364 1,582 1,326
’24 — (88) — — 1,698
’23 — 367 — — 2,312
’22 — (567) — 383 (182)
’21 — 787 — 1,110 1,927
’20 — 772 — 2,563 3,172
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 33 259 — — —
’25 (1,150) 173 173 1,385 580
’24 — (431) — — 980
’23 — 132 — — 1,712
’22 — (947) — 383 (1,013)
’21 — 405 — 1,110 1,064
’20 — 281 — 2,563 2,117
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.19 0.47 — — —
’25 0.08 0.28 0.22 0.48 1.05
’24 — 0.52 0.21 — (0.81)
’23 (0.80) 0.09 0.10 — (0.55)
’22 0.05 (0.02) (1.51) (1.66) (1.92)
’21 0.05 0.05 3.82 3.74 4.32
’20 0.04 0.25 0.43 1.21 1.47
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 23.00 28.71 33.66 32.98 30.50 33.60 11.75 15.46 19.55 21.48

Analyst estimates 2026–2028

Powerpack
High 30.63 42.35 46.67 49.25 55.30 61.23 38.77 23.49 32.91 29.54
People
People Employees 113,678 73,951 77,400 80,495 81,592 78,189 77,233 69,656 66,678 65,340
Revenue/emp, $m 0.24 0.27 0.28 0.27 0.27 0.26 0.24 0.28 0.29 0.31
Income, $m
Income, $m Revenue 27,129 20,097 21,401 21,820 22,315 20,297 18,783 19,664 19,501 20,177
Gross margin, % 43.29 46.01 47.20 45.55 44.95 41.78 40.35 40.99 43.13 45.18
EBT 1,537 1,556 1,775 1,712 1,702 602 (1,824) (569) 133 1,337
EBT margin, % 5.67 7.74 8.29 7.85 7.63 2.97 (9.71) (2.90) 0.68 6.63
Net income 1,650 2,114 1,296 1,314 1,365 3,931 (1,691) (501) (755) 1,015
Depreciation 1,434 1,176 1,287 1,679 1,901 1,583 3,118 1,373 1,504 1,273
Per share, $
Per share, $ Revenue 29.55 21.64 23.19 24.16 24.58 22.45 21.30 21.43 20.89 21.28
Earnings 1.75 2.01 1.39 1.45 1.50 4.34 (1.92) (0.55) (0.81) 1.06
Cash flow 2.30 2.28 2.28 2.52 3.49 2.13 (0.21) 2.52 1.82 1.40
Capex (1.00) (0.83) (1.02) (1.21) (1.16) (0.96) (0.94) (0.65) (0.77) (0.79)
Free cash flow 1.29 1.44 1.26 1.31 2.33 1.18 (1.15) 1.87 1.05 0.61
Book value 16.28 14.63 15.50 15.66 14.98 18.94 15.87 14.23 13.96 13.11
Shares, m 918 929 923 903 908 904 882 917 933 948
Valuation, ×
Valuation, × P/E 17.44 18.53 13.30 18.34 27.57 4.69 0.00 0.00 27.23 24.87
P/S 1.02 1.63 1.16 1.33 1.78 1.34 0.61 0.87 1.22 1.27
P/B 1.85 2.49 2.33 3.17 3.50 2.04 1.02 1.61 1.84 2.07
EV/Sales 1.08 1.75 1.23 1.44 1.89 1.53 0.89 1.14 1.51 1.50
EV/FCF 24.71 24.70 13.40 16.31 13.45 10.93 (690.86) (144.01) (23.53) 52.15
Cash, $m
Cash, $m Operating cash flow 2,107 2,114 2,102 2,275 3,172 1,927 (182) 2,312 1,698 1,326
Capex (920) (773) (941) (1,095) (1,055) (864) (830) (600) (717) (746)
Free cash flow 1,187 1,341 1,161 1,179 2,117 1,064 (1,013) 1,712 980 580
Balance, $m
Balance, $m Working capital 3,986 3,675 1,924 2,779 3,989 3,427 2,450 1,789 2,030 2,741
Total debt 4,450 4,571 4,047 5,532 6,517 7,658 7,660 7,614 7,697 7,845
Net debt 1,643 2,313 1,496 3,935 2,712 4,859 6,284 5,539 5,022 4,592
Shareholders’ equity 14,948 13,590 14,310 14,140 13,595 17,125 13,995 13,054 13,032 12,434
Returns, %
Returns, % ROA 4.57 5.82 4.34 4.29 4.38 11.50 (4.91) (1.57) (2.40) 3.27
ROIC 7.85 6.74 8.02 6.37 6.75 1.86 (4.96) (0.42) 1.98 5.91
ROE 11.43 13.13 9.23 9.19 9.78 25.56 (10.89) (3.73) (5.82) 7.95
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Koninklijke Philips N.V. vs peers in Medical Devices (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
EW Edwards Lifesciences Corporation $50.8B 49.8× 30.7× +13.63% (above 0%: growing) −26.32% (below 0%: shrinking) +142.84% (above 0%: growing) 77.46% 29.48% Compare
DXCM DexCom, Inc. $33.1B 33.2× 29.8× +13.08% (above 0%: growing) +41.30% (above 0%: growing) −11.68% (below 0%: shrinking) 63.44% 24.33% Compare
GEHC GE HealthCare Technologies Inc. $31.8B 16.0× 14.4× +5.75% (above 0%: growing) +16.98% (above 0%: growing) +750.00% (above 0%: growing) 41.17% 13.96% Compare
PHG Koninklijke Philips N.V. $24.9B 18.8× 11.2× +2.94% (above 0%: growing) +56.67% (above 0%: growing) +49.74% (above 0%: growing) 49.31% 13.99%
STE STERIS plc $21.9B 27.1× 23.6× +7.30% (above 0%: growing) +13.89% (above 0%: growing) −14.36% (below 0%: shrinking) 45.84% 19.15% Compare
ZBH Zimmer Biomet Holdings, Inc. $18.0B 23.0× 17.7× +4.80% (above 0%: growing) +33.77% (above 0%: growing) +13.05% (above 0%: growing) 70.81% 14.98% Compare
PEN Penumbra, Inc. $12.7B 78.4× 63.5× +14.90% (above 0%: growing) −24.79% (below 0%: shrinking) +10.81% (above 0%: growing) 67.93% 10.52% Compare
SNN Smith & Nephew SNATS, Inc. $12.2B 35.4× 18.6× +7.99% (above 0%: growing) −14.23% (below 0%: shrinking) +293.94% (above 0%: growing) 69.42% 0.00% Compare
GMED Globus Medical, Inc. $10.6B 19.3× 20.3× +5.94% (above 0%: growing) −25.33% (below 0%: shrinking) +571.30% (above 0%: growing) 69.42% 23.10% Compare
Median of peers $19.9B 30.2× 22.0× +7.64% −0.17% +77.95% 68.68% 17.07%

All 149 Medical Devices stocks →

Koninklijke Philips N.V. (PHG) key facts

  • Strength: Koninklijke Philips N.V.’s revenue for fiscal 2025 (year ended December 2025) was $20.2 billion, up 3.47% from fiscal 2024.
  • Koninklijke Philips N.V. (PHG) is a Medical Devices company in the Healthcare sector, traded in the US as an ADR.
  • Net income was $1.0 billion, or $1.06 per share (basic), a net margin of 5.02%.
  • As of October 16, 2026, PHG traded at $25.74, a market capitalization of $24.9 billion.
  • At that price the stock trades at 18.8× trailing-twelve-month earnings and 1.2× sales; its P/E is higher than 32% of its own readings over the past ten years.
  • Koninklijke Philips N.V. pays an annual dividend of $1.01 per share, a yield of 3.94%, with a payout ratio of 74.7%.
  • Return on equity was 7.95% and debt-to-equity 0.55.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 1.98 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Koninklijke Philips N.V. (PHG) Latest News

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stockrow.com/PHG · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com