VOLKSWAGEN AG |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 120.1 EUR | +1.09% |
|
-0.91% | +7.42% |
| Apr. 26 | TAKE A LOOK-Beijing auto show | RE |
| Apr. 26 | Foreign automakers eager for Chinese partners at Beijing auto show | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 87,466 | 81,625 | 112,849 | 67,576 | 58,007 | 65,871 | - | - |
| Enterprise Value (EV) 1 | 66,190 | 54,829 | 86,164 | 24,561 | 17,718 | 26,239 | 23,143 | 17,909 |
| P/E ratio | 6.61 x | 9.15 x | 5.99 x | 3.92 x | 3.5 x | 3.88 x | 3.62 x | 3.39 x |
| Yield | 3.72% | 3.19% | 4.26% | 6.44% | 8.05% | 7.55% | 8.02% | 8.53% |
| Capitalization / Revenue | 0.35 x | 0.37 x | 0.45 x | 0.24 x | 0.18 x | 0.2 x | 0.2 x | 0.19 x |
| EV / Revenue | 0.26 x | 0.25 x | 0.34 x | 0.09 x | 0.05 x | 0.08 x | 0.07 x | 0.05 x |
| EV / EBITDA | 1.51 x | 2.16 x | 2.66 x | 0.65 x | 0.49 x | 0.65 x | 0.56 x | 0.41 x |
| EV / FCF | 5.73 x | 4.01 x | 3.93 x | 3.31 x | 1.66 x | 3.56 x | 2.35 x | 1.47 x |
| FCF Yield | 17.5% | 24.9% | 25.4% | 30.2% | 60.4% | 28.1% | 42.6% | 68% |
| Price to Book | 0.73 x | 0.6 x | 0.62 x | 0.35 x | 0.32 x | 0.33 x | 0.31 x | 0.29 x |
| Nbr of stocks (in thousands) | 501,295 | 501,295 | 501,295 | 501,295 | 501,295 | 501,295 | - | - |
| Reference price 2 | 176.2 | 152.4 | 177.5 | 116.4 | 111.8 | 120.1 | 120.1 | 120.1 |
| Announcement Date | 2/28/20 | 2/26/21 | 3/15/22 | 3/14/23 | 3/13/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 252,632 | 222,884 | 250,200 | 279,232 | 322,284 | 326,951 | 337,203 | 348,593 |
| EBITDA 1 | 43,735 | 25,392 | 32,359 | 37,721 | 36,513 | 40,116 | 41,506 | 43,760 |
| EBIT 1 | 19,296 | 10,606 | 19,275 | 22,124 | 22,576 | 22,883 | 23,901 | 25,828 |
| Operating Margin | 7.64% | 4.76% | 7.7% | 7.92% | 7.01% | 7% | 7.09% | 7.41% |
| Earnings before Tax (EBT) 1 | 18,356 | 11,667 | 20,126 | 22,044 | 23,194 | 23,335 | 24,794 | 27,107 |
| Net income 1 | 13,346 | 8,824 | 14,843 | 14,867 | 16,013 | 15,745 | 16,767 | 18,189 |
| Net margin | 5.28% | 3.96% | 5.93% | 5.32% | 4.97% | 4.82% | 4.97% | 5.22% |
| EPS 2 | 26.66 | 16.66 | 29.65 | 29.69 | 31.98 | 30.98 | 33.20 | 35.45 |
| Free Cash Flow 1 | 11,555 | 13,656 | 21,906 | 7,411 | 10,698 | 7,377 | 9,856 | 12,182 |
| FCF margin | 4.57% | 6.13% | 8.76% | 2.65% | 3.32% | 2.26% | 2.92% | 3.49% |
| FCF Conversion (EBITDA) | 26.42% | 53.78% | 67.7% | 19.65% | 29.3% | 18.39% | 23.74% | 27.84% |
| FCF Conversion (Net income) | 86.58% | 154.76% | 147.58% | 49.85% | 66.81% | 46.85% | 58.78% | 66.97% |
| Dividend per Share 2 | 6.560 | 4.860 | 7.560 | 7.500 | 9.000 | 9.064 | 9.631 | 10.25 |
| Announcement Date | 2/28/20 | 2/26/21 | 3/15/22 | 3/14/23 | 3/13/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 129,669 | 56,931 | 63,601 | 62,742 | 69,543 | 132,285 | 70,712 | 76,235 | 76,198 | 80,059 | 156,257 | 78,845 | 87,182 | 75,152 | 82,673 | 81,119 | 89,603 |
| EBITDA 1 | - | 5,600 | 8,904 | 11,530 | 7,784 | - | 10,034 | - | 9,934 | 11,717 | - | 9,270 | 10,180 | 8,392 | 9,599 | 8,651 | 10,130 |
| EBIT 1 | - | 2,595 | 5,322 | 8,453 | 4,735 | 13,188 | 4,269 | 5,027 | 5,747 | 5,600 | 11,347 | 4,894 | 6,335 | 5,018 | 6,417 | 5,472 | 6,797 |
| Operating Margin | - | 4.56% | 8.37% | 13.47% | 6.81% | 9.97% | 6.04% | 6.59% | 7.54% | 6.99% | 7.26% | 6.21% | 7.27% | 6.68% | 7.76% | 6.75% | 7.59% |
| Earnings before Tax (EBT) 1 | - | 3,079 | 5,894 | 8,895 | 5,140 | - | 2,936 | - | 6,453 | 5,446 | 11,898 | 5,801 | 5,494 | 5,288 | 5,775 | 5,389 | 6,197 |
| Net income 1 | - | 2,761 | 3,978 | 6,555 | 3,741 | - | 1,957 | - | 4,209 | 3,791 | 8,521 | 4,347 | 4,665 | 3,506 | 3,847 | 3,639 | 4,314 |
| Net margin | - | 4.85% | 6.25% | 10.45% | 5.38% | - | 2.77% | - | 5.52% | 4.74% | 5.45% | 5.51% | 5.35% | 4.67% | 4.65% | 4.49% | 4.81% |
| EPS 2 | - | 5.510 | 7.940 | 13.11 | 7.460 | 20.57 | 3.900 | - | 8.430 | 6.480 | - | 7.760 | 9.310 | 6.805 | 7.670 | 7.260 | 8.600 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 7/29/21 | 10/28/21 | 3/15/22 | 5/4/22 | 7/28/22 | 7/28/22 | 10/28/22 | 3/14/23 | 5/4/23 | 7/27/23 | 7/27/23 | 10/26/23 | 3/13/24 | - | - | - | - |
1EUR in Million2EUR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 21,276 | 26,796 | 26,685 | 43,015 | 40,289 | 39,632 | 42,728 | 47,962 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 11,555 | 13,656 | 21,906 | 7,411 | 10,698 | 7,377 | 9,856 | 12,182 |
| ROE (net income / shareholders' equity) | 11.2% | 7.09% | 10.9% | 9.6% | 9.39% | 8.28% | 8.27% | 8.23% |
| ROA (Net income/ Total Assets) | 4.94% | 1.79% | 2.89% | 2.72% | 2.75% | 3.87% | 4.3% | 4.98% |
| Assets 1 | 270,355 | 492,686 | 512,853 | 546,681 | 582,185 | 406,703 | 389,810 | 365,553 |
| Book Value Per Share 2 | 243.0 | 253.0 | 288.0 | 330.0 | 350.0 | 369.0 | 390.0 | 417.0 |
| Cash Flow per Share 2 | 61.40 | 49.30 | 77.10 | 56.80 | 75.50 | 69.20 | 78.70 | 84.90 |
| Capex 1 | 14,007 | 11,065 | 10,496 | 22,454 | 25,513 | 28,796 | 27,553 | 27,622 |
| Capex / Sales | 5.54% | 4.96% | 4.2% | 8.04% | 7.92% | 8.81% | 8.17% | 7.92% |
| Announcement Date | 2/28/20 | 2/26/21 | 3/15/22 | 3/14/23 | 3/13/24 | - | - | - |
1EUR in Million2EUR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
22
Last Close Price
120.1
EUR
Average target price
144.1
EUR
Spread / Average Target
+19.96%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +7.42% | 70.32B | |
| +35.50% | 300B | |
| +18.88% | 82.12B | |
| +5.58% | 71.52B | |
| +19.41% | 53.62B | |
| +4.92% | 51.06B | |
| +27.62% | 52.28B | |
| +28.00% | 43.93B | |
| +22.60% | 39.41B | |
| +18.24% | 27.31B |
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