With a gain of almost 60% since January 1, Stellantis shares look set to become the CAC 40 index's biggest annual gainer in 2023, aided by improved operating and financial performance.
Despite the impact of the UAW strike this summer, the automaker's results have consistently exceeded expectations in recent months, with margins improving significantly.
A tour de force that has been hailed even on Wall Street, where last month Wells Fargo analysts hailed the "impressive" performance achieved by the group under the aegis of its CEO Carlos Tavares.
"Its four predecessors have never managed to generate adjusted operating profit (Ebit) of more than one billion euros since 2002, while last year's figure exceeded 23 billion euros", the research firm points out.
At the start of the year, analysts were pointing to a discounted valuation in line with the automaker's premium status, but the share price has risen sharply, from a PER of 2.5x in January to 3.3x at the end of November.
According to specialists, the share price could continue to rise thanks to speculation surrounding a possible US domicile, which could eventually enable it to join the S&P 500, the benchmark index for American asset managers.
On the other hand, some analysts fear that 2024 will be a more complicated year, due to the normalization of the price mix after a few very buoyant years, uncertainty surrounding the development of the Chinese market, and the slowdown in the electric vehicle market.
Since its official IPO in January 2021, Stellantis shares have climbed by nearly 77%.
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Stellantis N.V. is one of the world's leading car manufacturers. The activity is essentially organized around 4 sectors:
- sales of passenger cars and light commercial vehicles: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys brands;
- sale of luxury vehicles: Maserati and DS Automobiles brands;
- sale of automotive equipment: interior systems, car seats, car exteriors, emission control systems, etc.;
- other: sales financing services (purchase, rental, leasing, etc.), after-sales services, etc.; - other: sales financing services (purchase, rental, leasing, etc.).
Net sales are distributed geographically as follows: the Netherlands (0.8%), North America (46.7%), France (9.5%), Brazil (7.3%), Italy (6.2%), Germany (5.5%), the United Kingdom (4.4%), China (0.6%) and other (19%).
STELLANTIS N.V. 
