Company Valuation: Volkswagen AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 112,849 67,576 58,007 45,553 52,367 38,103 - -
Change - -40.12% -14.16% -21.47% 14.96% -27.24% - -
Enterprise Value (EV) 1 86,164 24,561 17,718 9,487 17,870 -28.92 -1,417 -5,892
Change - -71.49% -27.86% -46.46% 88.36% -100.16% -4,799.3% -315.77%
P/E 5.99x 3.92x 3.5x 4.16x 7.76x 4.15x 3.28x 2.75x
PBR 0.62x 0.35x 0.32x 0.24x 0.28x 0.19x 0.18x 0.17x
PEG - 29.06x 0.45x -0.1x -0.2x 0.1x 0.1x 0.1x
Capitalization / Revenue 0.45x 0.24x 0.18x 0.14x 0.16x 0.12x 0.12x 0.11x
EV / Revenue 0.34x 0.09x 0.05x 0.03x 0.06x -0x -0x -0.02x
EV / EBITDA 2.66x 0.65x 0.49x 0.26x 0.56x -0x -0.04x -0.14x
EV / EBIT 4.47x 1.11x 0.78x 0.5x 2.02x -0x -0.08x -0.29x
EV / FCF 3.93x 3.31x 1.66x 1.71x 3.1x -0.01x -0.24x -0.56x
FCF Yield 25.4% 30.2% 60.4% 58.4% 32.3% -19,275% -413% -180%
Dividend per Share 2 7.56 8.76 9 6.36 5.26 5.39 6.516 7.806
Rate of return 4.26% 7.52% 8.05% 7.14% 5.08% 7.15% 8.64% 10.4%
EPS 2 29.65 29.69 31.98 21.42 13.35 18.17 22.99 27.39
Distribution rate 25.5% 29.5% 28.1% 29.7% 39.4% 29.7% 28.3% 28.5%
Net sales 1 250,200 279,232 322,284 324,656 321,913 323,485 330,624 337,597
EBITDA 1 32,359 37,721 36,513 36,796 32,102 36,688 39,761 43,324
EBIT 1 19,275 22,124 22,576 19,060 8,868 14,352 17,434 20,105
Net income 1 14,843 14,867 16,013 10,721 6,673 9,212 11,443 13,198
Net Debt 1 -26,685 -43,015 -40,289 -36,066 -34,497 -38,132 -39,520 -43,995
Reference price 2 177.48 116.42 111.80 89.04 103.55 75.38 75.38 75.38
Nbr of stocks (in thousands) 501,295 501,295 501,295 501,295 501,295 501,295 - -
Announcement Date 3/15/22 3/14/23 3/13/24 3/11/25 3/10/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.71x1.32x12x3.18% 233B
9.48x0.39x3.16x0.8% 78.44B
17.53x0.34x4.38x3.94% 60.89B
8.41x1.24x13.72x3.2% 56.73B
8.63x0.11x1.06x6.77% 49.32B
24.36x1.32x7.38x2.38% 45.82B
8.14x-0.06x-0.55x4.75% 41.79B
14.73x0.63x6.86x4.2% 40.11B
22.81x1.99x14.44x1.1% 37.59B
Average 13.87x 0.81x 6.94x 3.37% 71.52B
Weighted average by Cap. 12.61x 0.92x 8.19x 3.23%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield