After a 10% Decline Last Year, Is Philips Stock a Still Buy in 2026?

Philips N.V. stock recently jumped 10% after Q4 results reinforced a positive margin recovery narrative, with a guided 12.5% adjusted EBITA margin for 2026 despite tariff impacts. The company also secured a €23.5 million grant for brain treatment research. However, a valuation model suggests a “Sell” recommendation, projecting only an 8% total upside over three years due to risks including tariff exposure and cautious China assumptions, leading to an annualized return below the 10% equity hurdle rate.