Amsterdam, February 11, 2026, 15:34 CET — Regular session
- Philips shares slipped roughly 3% in afternoon trading, cutting into the strong gains they saw Tuesday after the earnings report
- The company predicted better profitability in 2026 but warned of challenges from tariffs and China.
- Upcoming key dates are the first-quarter results on May 6 and the AGM scheduled for May 8
Shares of Dutch health tech giant Koninklijke Philips (PHIA.AS) dropped 3.1% to 26.71 euros by 15:13 CET Wednesday, retreating from a one-year peak hit just the day before after their earnings report.
The stock closed Tuesday at 27.57 euros, gaining 11.8% after hitting a high of 27.70, according to price data. Despite a dip on Wednesday, Philips remained roughly 8% higher than Monday’s close.
Philips’ buying spree came after it forecast an adjusted EBITA margin between 12.5% and 13% for 2026, a key profitability metric that excludes items like amortisation. The company also projected comparable sales growth of 3% to 4.5%, which factors out currency fluctuations and deal impacts, while noting ongoing challenges from tariffs and weakness in China. “Confirmation that Philips moves into right direction,” said analysts at Kepler Cheuvreux. CEO Roy Jakobs highlighted the company’s hospital presence and the valuable data it collects as competitive advantages. Reuters
Philips posted fourth-quarter sales of 5.1 billion euros, with the adjusted EBITA margin climbing to 15.1% from 13.5% the previous year. The company proposed a 2025 dividend of 0.85 euro per share and expects free cash flow in 2026 to range between 1.3 billion and 1.5 billion euros. It also set targets for 2026–2028, aiming for mid-single-digit comparable sales growth and a mid-teens adjusted EBITA margin by 2028. Philips noted the outlook factors in known tariffs but excludes any impact from Philips Respironics-related matters, including an ongoing U.S. Department of Justice probe.
Philips shares fell amid a broader slide in European stocks on Wednesday. Tech and financial sectors took the hardest hit, fueled by fresh concerns that emerging AI tools might disrupt traditional business models.
For Philips, though, the immediate question is sharper: how much of that margin boost can withstand another year of tariff pressures and a sluggish China market, especially as revenue growth forecasts have been scaled back from earlier targets.
Philips offers imaging, monitoring, and various hospital equipment, as well as consumer health products. In key hospital markets, it goes head-to-head with players like Siemens Healthineers and GE HealthCare, relying on service contracts and upgrades to smooth out fluctuations in large system sales.
Philips announced Tuesday it will seek shareholder approval to re-appoint Jakobs as CEO. Supervisory board chairman Feike Sijbesma praised Jakobs for demonstrating “clear leadership, strong execution and a relentless focus” despite a challenging macro environment. Philips
Investors will be watching closely for progress on the new targets, beginning with Philips’ Q1 2026 earnings report on May 6 and the Annual General Meeting on May 8, as outlined in the company’s events calendar.
