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 37,144 - -
Change - -40.12% -14.16% -21.47% 14.96% -29.07% - -
Enterprise Value (EV) 1 86,164 24,561 17,718 9,487 17,870 569.3 -2,318 -6,889
Change - -71.49% -27.86% -46.46% 88.36% -96.81% -507.1% -197.24%
P/E 5.99x 3.92x 3.5x 4.16x 7.76x 4.09x 3.17x 2.68x
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 0.11x 0.11x 0.11x
EV / Revenue 0.34x 0.09x 0.05x 0.03x 0.06x 0x -0.01x -0.02x
EV / EBITDA 2.66x 0.65x 0.49x 0.26x 0.56x 0.02x -0.06x -0.16x
EV / EBIT 4.47x 1.11x 0.78x 0.5x 2.02x 0.04x -0.13x -0.34x
EV / FCF 3.93x 3.31x 1.66x 1.71x 3.1x 0.1x -0.4x -0.65x
FCF Yield 25.4% 30.2% 60.4% 58.4% 32.3% 979% -252% -154%
Dividend per Share 2 7.56 8.76 9 6.36 5.26 5.345 6.505 7.812
Rate of return 4.26% 7.52% 8.05% 7.14% 5.08% 7.29% 8.87% 10.7%
EPS 2 29.65 29.69 31.98 21.42 13.35 17.94 23.13 27.39
Distribution rate 25.5% 29.5% 28.1% 29.7% 39.4% 29.8% 28.1% 28.5%
Net sales 1 250,200 279,232 322,284 324,656 321,913 323,382 330,360 337,684
EBITDA 1 32,359 37,721 36,513 36,796 32,102 36,710 39,295 43,365
EBIT 1 19,275 22,124 22,576 19,060 8,868 14,240 17,502 20,088
Net income 1 14,843 14,867 16,013 10,721 6,673 8,970 11,490 13,208
Net Debt 1 -26,685 -43,015 -40,289 -36,066 -34,497 -36,574 -39,461 -44,033
Reference price 2 177.48 116.42 111.80 89.04 103.55 73.30 73.30 73.30
Nbr of stocks (in thousands) 501,295 501,295 501,295 501,295 501,295 501,300 - -
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.($)
10.11x1.25x11.42x3.28% 233B
8.15x0.38x3.09x0.82% 76.32B
9.89x1.3x14.48x2.72% 68.96B
17.45x0.31x4x4.32% 55.55B
8.41x0.1x0.99x6.92% 48.62B
23.69x1.32x7.33x2.38% 46.88B
4.12x0x0.02x7.3% 43.59B
12.35x0.64x8.43x4.06% 42.75B
8.69x-0.08x-0.64x4.31% 40.75B
Average 11.43x 0.58x 5.46x 4.01% 72.89B
Weighted average by Cap. 10.99x 0.79x 7.38x 3.61%

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