Financials Volkswagen AG

Equities

VOW3

DE0007664039

Auto & Truck Manufacturers

Real-time Estimate Tradegate 04:21:54 2024-05-22 EDT 5-day change 1st Jan Change
117.8 EUR -1.11% Intraday chart for Volkswagen AG -2.72% +5.46%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 87,466 81,625 112,849 67,576 58,007 65,498 - -
Enterprise Value (EV) 1 66,190 54,829 86,164 24,561 17,718 24,854 20,842 14,637
P/E ratio 6.61 x 9.15 x 5.99 x 3.92 x 3.5 x 3.93 x 3.65 x 3.34 x
Yield 3.72% 3.19% 4.26% 6.44% 8.05% 7.63% 8.09% 8.59%
Capitalization / Revenue 0.35 x 0.37 x 0.45 x 0.24 x 0.18 x 0.2 x 0.19 x 0.19 x
EV / Revenue 0.26 x 0.25 x 0.34 x 0.09 x 0.05 x 0.08 x 0.06 x 0.04 x
EV / EBITDA 1.51 x 2.16 x 2.66 x 0.65 x 0.49 x 0.61 x 0.5 x 0.32 x
EV / FCF 5.73 x 4.01 x 3.93 x 3.31 x 1.66 x 3.28 x 2 x 1.15 x
FCF Yield 17.5% 24.9% 25.4% 30.2% 60.4% 30.5% 50% 87.1%
Price to Book 0.73 x 0.6 x 0.62 x 0.35 x 0.32 x 0.32 x 0.3 x 0.29 x
Nbr of stocks (in thousands) 501,295 501,295 501,295 501,295 501,295 501,295 - -
Reference price 2 176.2 152.4 177.5 116.4 111.8 119.2 119.2 119.2
Announcement Date 20-02-28 21-02-26 22-03-15 23-03-14 24-03-13 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 252,632 222,884 250,200 279,232 322,284 326,922 337,036 347,082
EBITDA 1 43,735 25,392 32,359 37,721 36,513 40,582 41,372 45,192
EBIT 1 19,296 10,606 19,275 22,124 22,576 22,368 23,664 25,608
Operating Margin 7.64% 4.76% 7.7% 7.92% 7.01% 6.84% 7.02% 7.38%
Earnings before Tax (EBT) 1 18,356 11,667 20,126 22,044 23,194 23,073 24,801 26,989
Net income 1 13,346 8,824 14,843 14,867 16,013 15,272 16,590 18,132
Net margin 5.28% 3.96% 5.93% 5.32% 4.97% 4.67% 4.92% 5.22%
EPS 2 26.66 16.66 29.65 29.69 31.98 30.32 32.68 35.72
Free Cash Flow 1 11,555 13,656 21,906 7,411 10,698 7,589 10,430 12,747
FCF margin 4.57% 6.13% 8.76% 2.65% 3.32% 2.32% 3.09% 3.67%
FCF Conversion (EBITDA) 26.42% 53.78% 67.7% 19.65% 29.3% 18.7% 25.21% 28.21%
FCF Conversion (Net income) 86.58% 154.76% 147.58% 49.85% 66.81% 49.69% 62.87% 70.3%
Dividend per Share 2 6.560 4.860 7.560 7.500 9.000 9.094 9.641 10.24
Announcement Date 20-02-28 21-02-26 22-03-15 23-03-14 24-03-13 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 S1 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 63,601 62,742 69,543 132,285 70,712 76,235 76,198 80,059 156,257 78,845 87,182 75,461 81,864 80,197 89,804
EBITDA 1 - 8,904 11,530 7,784 - 10,034 - 9,934 11,717 - 9,270 10,180 8,601 8,808 8,804 10,123
EBIT 1 - 5,322 8,453 4,735 13,188 4,269 5,027 5,747 5,600 11,347 4,894 6,335 4,588 5,545 5,686 6,944
Operating Margin - 8.37% 13.47% 6.81% 9.97% 6.04% 6.59% 7.54% 6.99% 7.26% 6.21% 7.27% 6.08% 6.77% 7.09% 7.73%
Earnings before Tax (EBT) 1 - 5,894 8,895 5,140 - 2,936 - 6,453 5,446 11,898 5,801 5,494 5,181 5,014 5,928 6,842
Net income 1 - 3,978 6,555 3,741 - 1,957 - 4,209 3,791 8,521 4,347 4,665 3,266 3,784 4,420 4,967
Net margin - 6.25% 10.45% 5.38% - 2.77% - 5.52% 4.74% 5.45% 5.51% 5.35% 4.33% 4.62% 5.51% 5.53%
EPS 2 - 7.940 13.11 7.460 20.57 3.900 - 8.430 6.480 - 7.760 9.310 6.550 7.547 8.820 9.906
Dividend per Share - - - - - - - - - - - - - - - -
Announcement Date 21-07-29 22-03-15 22-05-04 22-07-28 22-07-28 22-10-28 23-03-14 23-05-04 23-07-27 23-07-27 23-10-26 24-03-13 24-04-30 - - -
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 40,644 44,656 50,861
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 11,555 13,656 21,906 7,411 10,698 7,589 10,430 12,747
ROE (net income / shareholders' equity) 11.2% 7.09% 10.9% 9.6% 9.39% 8.07% 7.99% 8.13%
ROA (Net income/ Total Assets) 4.94% 1.79% 2.89% 2.72% 2.75% 3.69% 4.24% 5.03%
Assets 1 270,355 492,686 512,853 546,681 582,185 413,997 391,678 360,787
Book Value Per Share 2 243.0 253.0 288.0 330.0 350.0 377.0 392.0 415.0
Cash Flow per Share 2 61.40 49.30 77.10 56.80 75.50 60.90 66.10 68.60
Capex 1 14,007 11,065 10,496 22,454 25,513 28,094 27,474 27,505
Capex / Sales 5.54% 4.96% 4.2% 8.04% 7.92% 8.59% 8.15% 7.92%
Announcement Date 20-02-28 21-02-26 22-03-15 23-03-14 24-03-13 - - -
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-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
22
Last Close Price
119.2 EUR
Average target price
142.6 EUR
Spread / Average Target
+19.65%
Consensus
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