Gas turbines & grid
Siemens Energy
A gas-turbine, grid and transformer major. AI-datacenter power demand drove 194 gas-turbine sales in 2025 (up from 100), with €2B+ in grid orders from hyperscalers. A record €146B backlog (58GW). A $1B US investment (its largest grid factory worldwide in Mississippi). With GE Vernova, a generation and grid axis.
ENR.DE Updated Sep 11, 2026 5 AI consumers· 3 recurring
Per the valuechain.wiki graph, Siemens Energy is directly linked to 3 companies (0 supply, 2 revenue, 1 investment relationships) and reaches 6 companies within two hops; the links are backed by 9 dated sources, 4 of them primary filings (as of 2026-09-11).
Financials & Segments
- Total revenue · €39.1bn (FY2025, +15.2% comparable)
- Customer concentration · €146B backlog; 194 gas turbines; datacenter power surge. Turbines and grid surge on datacenter power.
- Segments · Gas turbines · Grid/transformers · Wind (Gamesa)
Revenue from
- Utilities · hyperscalers (turbines · grid) High confidence
Utilities and hyperscalers order gas turbines, grid and transformers — the €146B backlog pre-commits several years of revenue, and the crux is the capacity to turn it into deliveries.Mentions EN Yahoo Finance Published Nov 19, 2025: Siemens Energy Q4 FY2025 — record revenue and raised mid-term outlook (analysis)Confirms EN Siemens Energy Published Nov 19, 2025: Siemens Energy FY2025 (ended Sep 2025) results — revenue EUR 39.1B (+15.2% comparable), Grid +25.4%Confirms EN Power Engineering Published Nov 1, 2025: Siemens Energy $1B US investment (grid, turbines)Confirms EN Energy Connects Published Nov 1, 2025: Siemens Energy boosts outlook on turbine and datacenter demand - Digital Realty Medium confidence
Data-center REIT Digital Realty sources onsite power and grid equipment — an emblematic customer of AI-datacenter electrification demand.Confirms EN Siemens Energy Annual Report Published Nov 19, 2025: Siemens Energy Annual Report — siemens-energy resultsConfirms EN Siemens Energy Published Nov 19, 2025: Siemens Energy FY2025 (ended Sep 2025) results — revenue EUR 39.1B (+15.2% comparable), Grid +25.4%Confirms EN Energy Connects Published Nov 1, 2025: Siemens Energy boosts outlook on turbine and datacenter demand - 데이터센터 그리드 인프라 (변압기·차단기) Medium confidence
Siemens Energy's Grid Technologies supplies data centers with transformers, circuit breakers and onsite power equipment, and the AI data-center boom drove FY2025 orders in this segment.Confirms EN Siemens Energy Published Nov 19, 2025: Siemens Energy FY2025 (ended Sep 2025) results — revenue EUR 39.1B (+15.2% comparable), Grid +25.4%Confirms EN Energy Connects Published Nov 1, 2025: Siemens Energy boosts outlook on turbine and datacenter demand - Duke Energy Corporation Medium confidence
Siemens Energy supplies Duke Energy with gas turbines made in Charlotte, which Duke Energy identified as part of its North Carolina supply-chain spending without disclosing the amount paid to this supplier.Confirms EN Duke Energy Investor Relations Published Jun 30, 2026: Duke Energy's nearly $1 billion investment with North Carolina suppliers strengthens American supply chains, local economies and the nation's energy future
Pays to
- components, materials & manufacturing (undisclosed) Low confidence
Turbine and grid parts, materials and manufacturing.Confirms EN Power Engineering Published Nov 1, 2025: Siemens Energy $1B US investment (grid, turbines) - capacity expansion · personnel (undisclosed) Low confidence
$1B US capacity and workforce.Confirms EN Power Engineering Published Nov 1, 2025: Siemens Energy $1B US investment (grid, turbines)
Investors
- Siemens AG (former parent, ~10% residual) High confidence· ownership 10%
After the 2020 spin-off, former parent Siemens AG holds ~10% as a financial-asset residual stake and is gradually monetizing it — a purely financial, non-controlling relationship.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| NVIDIA | lead2 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +23.7 |
| Amazon | lead2 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +12 |
| Digital Realty | lead1 | +30.7 | -41 | +39.9 | +35.9 | -10.1 | +23.4 |
| Duke Energy Corporation | lead1 | +19.1 | +2 | -1.6 | +15.6 | +12.7 | +5.3 |
| Siemens Energy | node | -35.4 | -2.7 | -27 | +314.2 | +149.9 | +1.8 |
| Siemens AG | benef1 | +12.2 | +5.1 | +20.1 | +28 | +26.4 | +8.6 |
YTD as of 2026-09-04 · source: Yahoo Finance
Siemens Energy operates across Gas turbines & grid. After a spike of +314.2% in 2024, gains cooled to +149.9% in 2025 and +1.8% in 2026. The demand side (avg +23.4%) leads the stock (+1.8%), so customer moves come first here. With GE Vernova, a generation and grid axis.
Analysis generated from returns as of 2026-09-04Analyst ratings
Consensus: Buy 3 · Hold 0 · Sell 0 · Avg. target €217 · Price €146.52 (09-04) · Upside +48%
Analyses covering this node
- Power is the next bottleneck: where the chain crosses into the clock of generation, transmission and cooling Jun 23, 2026