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Schneider Electric SE SU

ParisMachineryFinancials to Jun 30, 2026 · Updated Oct 7, 2026

On Stock Analysis · affiliate link
SU financials
Moat score
57
ROIC
13.9%
P/E
30.9
EV/EBIT
22.7
FCF yield
3.9%
Dividend yield
1.6%
Market cap
€146.5B

Moat ranks

Score rankTied #333 of 396
Durabilitymedium
Market structureOligopoly
Pricing powermoderate

Balance sheet

6/30/26
€BDec 31Jun 30
Cash4.64.5
Securities0.00.0
Debt17.718.8
Net cash-13.1-14.3
Equity24.124.5
Leverage
Debt / EBITDA
2.15×
Debt / equity
0.77×
Leases (12/31/17)
€0
Capital
Diluted shares
563M
Book value / share
€43.46
Price / book
6.0×
Net cash / share
−€25.46
Market cap
€146.5B
Enterprise value
€160.8B

Per-share record

Fiscal years and TTM
Scale
€0€20€40€60€80'16'17'18'19'20'21'22'23'2470.38'2574.69TTM
Revenue per shareCash flow per share

Key indicators

Latest: H1 '26
IndicatorLatestVs year agoLast 8 halves
Revenue growth9.8%+3.4 pts
Operating margin17.0%+0.4 pts
FCF margin7.6%+5.2 pts
Capex / revenue3.3%-0.5 pts
AVEVA annualized recurring revenue growth+11%-1 pts
Field Services growth+5%-7 pts
Software and Services sales share18.0%-1.0 pts
Net price earnings contribution−€154M––
Product pricing earnings contribution€280M––

Margins and growth from reported quarters; company KPIs as reported in results releases.

About SU

Schneider Electric supplies electrical infrastructure, automation controls and industrial software. Energy Management generated about 83% of 2025 revenue.

Revenue mix
Energy Management 82.5%Industrial Automation 17.5%
  • Ecosystem Complements

    EcoStruxure links connected equipment, control, software and services across buildings, data centers, industry and infrastructure.

  • Installed Base Consumables

    Commissioning, monitoring, maintenance and modernization generate revenue over the equipment lifecycle.

  • Data Workflow Lockin

    AVEVA supports engineering and operating workflows through on-premise and cloud subscriptions and multi-year renewals.

  • Ecosystem Complements

    Control hardware, AVEVA and the Energy Management portfolio can serve more of an industrial project.

Timeline
  1. Oct 5, 2026

    Shelly’s board supported Schneider’s EUR70 cash offer after a fairness review. Regulatory approval and the 95% acceptance condition still govern completion.

  2. Oct 4, 2026

    Schneider signed the PTC merger agreement at USD205 per share, valuing equity at about EUR20.1bn. The proposed deal adds product-design and lifecycle software, with closing expected by Q3 2027 subject to approvals.

  3. Oct 4, 2026

    Schneider signed a USD25bn bridge financing commitment for the proposed PTC acquisition. The planned long-term funding combines new equity and debt, adding dilution and financing risk before integration benefits are earned.

  4. Sep 28, 2026

    Schneider’s subsidiary registered the Shelly tender offer with Bulgaria’s regulator. The offer retained a 95% minimum acceptance condition and awaits regulatory approval.

  5. Sep 24, 2026

    Schneider agreed an intended cash offer for Shelly at EUR70 per share, supported by its founders. Completion and smart-building portfolio benefits remain conditional.

Ownership

CEO
Olivier Blum
Since 2024 · 2 yrs
Professional CEOSingle share class

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Financial record

Fiscal year2016201720182019202020212022202320242025TTMTrendChange 2016–25
Per share (€)
Revenue43.1443.8445.8848.7145.1251.1960.4763.3767.0470.3874.69+5.6%/yr
Cash flow5.225.215.127.687.956.407.7010.439.8110.7512.86+8.4%/yr
Earnings3.093.814.164.333.815.676.157.077.507.308.42+10.0%/yr
Free cash flow3.743.883.656.176.494.855.778.027.318.0410.20+8.9%/yr
Capex1.471.331.471.511.471.551.932.412.492.702.66+7.0%/yr
Dividends1.992.012.182.322.532.562.863.123.453.844.20+7.6%/yr
Book value36.1535.0837.0738.6736.9943.2845.0146.7053.4542.2943.46+1.8%/yr
Diluted shares (M)567564561558558565565567569571563+0.1%/yr
Totals (€B)
Revenue24.524.725.727.225.228.934.235.938.240.242.0+5.7%/yr
Operating income3.03.23.43.43.14.34.95.96.46.77.1+9.4%/yr
Net income1.82.22.32.42.13.23.54.04.34.24.7+10.1%/yr
Free cash flow2.12.22.03.43.62.73.34.54.24.65.7+9.0%/yr
Buybacks0.90.20.80.30.10.30.20.70.30.30.5-9.7%/yr
Dividends1.11.11.21.31.41.41.61.82.02.22.4+7.7%/yr
Net cash-4.7-4.2-5.1-3.7-3.5-7.1-6.4-9.1-7.8-13.1-14.3−€8.4B
Margins & returns (%)
Gross margin38.338.439.039.540.441.040.641.842.642.142.1+3.8 pts
Operating margin12.213.013.212.512.315.014.416.516.916.716.9+4.5 pts
Net margin7.28.79.18.98.511.110.211.111.210.411.3+3.2 pts
FCF margin8.78.98.012.714.49.59.512.710.911.413.7+2.8 pts
ROIC9.010.210.010.29.710.511.812.712.813.713.9+4.7 pts
Return on equity8.510.911.211.210.313.113.715.114.017.319.4+8.7 pts
R&D % of revenue2.22.02.32.42.93.03.03.33.43.43.5+1.2 pts
Stock pay % of revenue0.50.40.50.60.60.60.50.50.60.50.6+0.0 pts
Capex % of revenue3.43.03.23.13.23.03.23.83.73.83.6+0.4 pts

Change uses 2016 and 2025 only: compound annual growth for amounts, points for margins and returns, and the change in amount for net cash. A dash means no 2016 base. Trend shows the fiscal years.

TTM = two half years to Jun 30, 2026. Per-share values use diluted weighted shares.ROIC = operating income × (1 − 23.9% tax rate, the company's own over three fiscal years excluding one-offs) ÷ (equity + debt − cash and current securities). Returns show a dash when their base is negative or under 10% of revenue. Free cash flow = operating cash flow − capex. Debt is all borrowings; net cash counts long-term securities and excludes leases.

Moat

Moat scorecard

Moat score57
Strength
Confidence
Structure
Oligopoly
Durability
medium
Trajectory
stable
Pricing power
moderate
Segments
  • Energy Management82.5%
    2 claims
  • Industrial Automation17.5%
    2 claims

Moat claims

Applies to
Energy Management
Confidence
Durability
medium
Trajectory
stableas of Oct 7, 2026
Why it holds

EcoStruxure links connected equipment, control, software and services across buildings, data centers, industry and infrastructure. Customers can buy individual offers and integrate other vendors; portfolio breadth helps solve projects but does not force exclusive use. Strong systems demand is a business tailwind, while published cross-sell and customer retention evidence remains limited.

Why stable

Software, products and services still support a broad customer offer. Strong systems demand and proposed acquisitions broaden commercial opportunity, but no reported cross-sell or retention measure establishes stronger protection.

Indicators
  • Field Services growth+5%
  • Software and Services sales share18.0%-1.0 pts
  • Net price earnings contribution−€154M
  • Product pricing earnings contribution€280M
  • Energy Management net sales€33.1B+6%
  • Energy Management backlog€21.3B+21%
  • Software and Services sales share (annual)19.0%0.0 pts
  • Agnostic software recurring sales share79.0%+2.0 pts
Risks
  • Platform feature parity from ABB/Siemens/Eaton integrated stacks
  • Customer preference for best-of-breed components and open integration
  • Cybersecurity incidents affecting connected products and trust

Profile change log

  1. Oct 7, 2026 · analyst revision

    The September Data Center Expert advisory describes attacks through privileged accounts and provides a version 9.2 fix. The debate now includes this mitigation alongside the security risk; no confirmed breach is inferred.

  2. Oct 7, 2026 · business change

    Schneider signed a USD25bn bridge financing commitment for the proposed PTC acquisition. The planned long-term funding combines new equity and debt, adding dilution and financing risk before integration benefits are earned.

  3. Oct 7, 2026 · business change

    Austria’s Cognite merger standstill ended without a cartel-court referral, clearing one local regulatory gate. Other approvals and closing conditions remained pending in the October 5 announcement.

  4. Oct 7, 2026 · analyst revision

    Verified governance against the FY2025 registration document and clarified the PTC funding plan. Existing moat strengths and stable trajectories remain supported; proposed financing is not debt already drawn.

  5. Oct 7, 2026 · analyst revision

    Recurring restructuring and repeated associate impairments remain in reported earnings; they are removed from one-off adjustments. Older FY2022 exit charges remain in reported profit. KPI histories now include missing quarters, with annual sales mix separated from quarterly mix.

  6. Oct 7, 2026 · analyst revision

    Added management, operating histories and the investment debate. Linked existing electrical equipment and automation markets, with data-center bottlenecks, rate exposure, costs, legal risks and cybersecurity evidence.

  7. Oct 7, 2026 · analyst revision

    Moat strengths remain unchanged. Stable trajectories now distinguish portfolio breadth, lifecycle service demand and ARR growth from proven customer retention; ARR is not recognized revenue growth.

  8. Oct 7, 2026 · analyst revision

    Revenue weights now use full-year 2025 Energy Management sales of EUR33.130bn and Industrial Automation sales of EUR7.022bn. Previous profit shares used adjusted EBITA before central costs and are removed.

  9. Oct 7, 2026 · business change

    Schneider signed the PTC merger agreement at USD205 per share, valuing equity at about EUR20.1bn. The proposed deal adds product-design and lifecycle software, with closing expected by Q3 2027 subject to approvals.

  10. Oct 7, 2026 · business change

    Schneider’s subsidiary registered the Shelly tender offer with Bulgaria’s regulator. The offer retained a 95% minimum acceptance condition and awaits regulatory approval.

  11. Oct 7, 2026 · business change

    Schneider agreed an intended cash offer for Shelly at EUR70 per share, supported by its founders. Completion and smart-building portfolio benefits remain conditional.

  12. Oct 7, 2026 · business change

    Schneider issued a security notice for EcoStruxure IT Data Center Expert. Unremediated vulnerabilities can expose information or enable remote compromise; the notice does not establish an actual breach.

  13. Oct 7, 2026 · business change

    Schneider raised its 2026 targets to 10–13% organic revenue growth and 14–19% organic adjusted EBITA growth after strong first-half execution.

  14. Oct 7, 2026 · business change

    Schneider agreed to acquire Cognite for USD3.1bn in cash. Industrial data and AI software would complement AVEVA; the transaction remains subject to closing conditions.

  15. Oct 7, 2026 · business change

    Schneider agreed to buy about 90% of AiDASH at an implied USD350m enterprise value. The pending deal adds satellite-based vegetation, asset and climate-risk software for utilities after closing.

  16. Oct 7, 2026 · business change

    Nathan Fast became CFO, taking responsibility for finance as Schneider pursues growth and acquisitions.

  17. Oct 7, 2026 · business change

    Schneider acquired a 75% stake in Motivair, adding liquid-cooling equipment for high-density data centers. The business is consolidated within Energy Management.

  18. Oct 7, 2026 · business change

    Olivier Blum became CEO after the board replaced Peter Herweck, placing the former Energy Management leader in charge of group strategy and capital allocation.

  19. Oct 7, 2026 · business change

    The French Competition Authority fined Schneider EUR207m over electrical distribution pricing practices. Schneider contests the decision; EUR104m was provided in 2024.

  20. Oct 7, 2026 · business change

    Schneider acquired control of Planon, increasing its stake to 80% and adding building-management software. Revaluation of the previously held stake increased 2024 operating earnings.

  21. Oct 7, 2026 · business change

    Shelly’s board supported Schneider’s EUR70 cash offer after a fairness review. Regulatory approval and the 95% acceptance condition still govern completion.

  22. Oct 7, 2026 · business change

    Schneider bought the remaining 35% of Schneider Electric India from Temasek for EUR5.5bn, gaining full ownership. The business was already consolidated, so the cash purchase reduced equity without adding group operating revenue.

  23. Oct 7, 2026 · business change

    Schneider acquired 51.01% of Schneider eStar for EUR230m consideration, including EUR220m cash. The StarCharge joint venture adds European distributed-energy and charging products to Energy Management.

Industry & peers

Peer map

0%10%20%30%40%50%60708090100Moat scoreIndustry medianSUETNROKEMR

Hover a point for its values; click a peer to compare. Dashed lines: industry medians.

Global low- and medium-voltage electrification

As of Oct 7, 2026
OligopolyMedium cyclicality

Low- and medium-voltage switching, protection, distribution, wiring and power-conversion products for buildings, infrastructure and industry, with related uninterruptible power, data-center cooling and building controls. Excludes high-voltage transmission equipment and electricity sales.

  1. ABB
  2. Schneider Electric
  3. Eaton
  4. Siemens
  5. Legrand
  6. Hubbell
  7. Chint
  8. Mitsubishi Electric
2025 leaders, no comparable shares · ABB Financial Report 2025
StocksMoatGross m.Op. m.
SU5742.1%16.9%
Industry median207040.3%17.4%
Sector median887637.0%17.5%
All stocks median3987652.9%19.6%

Moat medians cover every stock. Margin medians count only stocks with collected numbers and need at least three.

Drivers & risks

Demand drivers
  • Data-center power demand supports switchgear, protection and power-distribution investment.
  • Grid modernization and electrification of transport and buildings expand the installed equipment base.
  • Safety standards and efficiency requirements support upgrades of older electrical installations.
  • Local production reduces trade exposure and helps suppliers serve regional specifications.
  • Higher computing density increases demand for reliable power distribution, uninterruptible power and liquid cooling, as well as installation and maintenance.
Risks
  • High interest rates and weak construction delay building and infrastructure projects.
  • Copper, steel and tariff costs can rise before contracts or channel prices adjust.
  • Large rivals and lower-priced local suppliers limit price increases in standard products.
  • Power-access constraints or lower AI investment can delay data-center delivery schedules.
  • A stronger dollar reduces reported USD sales from foreign-currency markets.
  • Copper and silver costs, tariffs and price timing can limit profit even when sales increase.
  • Currency effects depend on the supplier’s reporting currency: a stronger euro reduces EUR sales translated from dollar and rupee markets.
  • Competition enforcement and safety or security failures can raise costs and weaken customer trust.

Bulls & bears

Key question · as of Oct 7, 2026

Can Schneider convert its equipment and software demand into durable cash returns while funding and integrating several proposed acquisitions?

Arguments

3 forFaded: weakening or settled6 against

What to watch

  1. 1Energy Management and Industrial Automation organic sales and backlog conversion
  2. 2AVEVA ARR growth, recurring mix and any disclosed customer retention
  3. 3Field Services growth and recurring contract attachment
  4. 4Reported operating profit versus adjusted EBITA, restructuring and impairments
  5. 5Cash, borrowing balances, acquisition funding and minority purchase payments
  6. 6French competition appeal outcomes and product-security remediation

Next check: October 16, 2026 confirmed Q3 revenue release, brought forward after the PTC announcement. Check deal funding, order conversion and subsequent regulatory or security developments.

Sources: company filings and dated sources collected for Find My Moat; market cap as of Oct 6, 2026. Not investment advice.

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Moat Score 57/100 by <a href="https://www.findmymoat.com/stocks/XPAR:SU">Find My Moat</a> (as of September 2026)

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