Company Valuation: Volkswagen

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,12,849 67,576 58,007 45,553 52,367 35,674 - -
Change - -40.12% -14.16% -21.47% 14.96% -31.88% - -
Enterprise Value (EV) 1 86,164 24,561 17,718 9,487 17,870 -645.9 -3,915 -8,495
Change - -71.49% -27.86% -46.46% 88.36% -103.61% -506.16% -116.96%
P/E 5.99x 3.92x 3.5x 4.16x 7.76x -28.1x 3.49x 2.92x
PBR 0.62x 0.35x 0.32x 0.24x 0.28x 0.18x 0.18x 0.17x
PEG - 29.06x 0.45x -0.1x -0.2x 0x -0x 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 -0.03x
EV / EBITDA 2.66x 0.65x 0.49x 0.26x 0.56x -0.02x -0.1x -0.2x
EV / EBIT 4.47x 1.11x 0.78x 0.5x 2.02x -0.05x -0.24x -0.46x
EV / FCF 3.93x 3.31x 1.66x 1.71x 3.1x -0.12x -0.62x -0.74x
FCF Yield 25.4% 30.2% 60.4% 58.4% 32.3% -841% -161% -135%
Dividend per Share 2 7.56 8.76 9 6.36 5.26 5.124 5.918 7.037
Rate of return 4.26% 7.52% 8.05% 7.14% 5.08% 7.21% 8.33% 9.91%
EPS 2 29.65 29.69 31.98 21.42 13.35 -2.525 20.33 24.33
Distribution rate 25.5% 29.5% 28.1% 29.7% 39.4% -203% 29.1% 28.9%
Net sales 1 2,50,200 2,79,232 3,22,284 3,24,656 3,21,913 3,20,792 3,26,069 3,31,526
EBITDA 1 32,359 37,721 36,513 36,796 32,102 36,731 38,923 42,569
EBIT 1 19,275 22,124 22,576 19,060 8,868 13,932 15,984 18,662
Net income 1 14,843 14,867 16,013 10,721 6,673 -1,671 10,600 12,148
Net Debt 1 -26,685 -43,015 -40,289 -36,066 -34,497 -36,320 -39,590 -44,169
Reference price 2 177.48 116.42 111.80 89.04 103.55 71.04 71.04 71.04
Nbr of stocks (in thousands) 5,01,295 5,01,295 5,01,295 5,01,295 5,01,295 5,01,300 - -
Announcement Date 15/03/22 14/03/23 13/03/24 11/03/25 10/03/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
333.57x12.89x94.13x-.--% 1,39400Cr
9.23x1.24x11.19x3.54% 22TCr
15.46x0.81x5.55x1.6% 10TCr
35.71x9.02x22.98x1.08% 7.68TCr
7.54x0.34x2.73x0.9% 7.06TCr
8.39x1.23x13.99x3.13% 6TCr
11.96x0.27x3.42x4.9% 4.9TCr
23.51x1.36x7.63x2.28% 4.68TCr
7.64x0.07x0.66x7.61% 4.25TCr
Average 50.33x 3.03x 18.03x 2.78% 22.85TCr
Weighted average by Cap. 230.56x 9.33x 66.86x 0.94%

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