Financials Porsche Automobil Holding SE

Equities

PAH3

DE000PAH0038

Auto & Truck Manufacturers

Market Closed - Xetra 16:35:21 13/06/2024 BST 5-day change 1st Jan Change
43 EUR -5.83% Intraday chart for Porsche Automobil Holding SE -14.14% -7.17%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 20,408 17,272 25,554 15,692 14,186 13,169 - -
Enterprise Value (EV) 1 19,856 16,710 24,912 15,271 19,794 18,460 17,738 16,564
P/E ratio 4.63 x 6.58 x 5.6 x 3.34 x 2.78 x 2.54 x 2.37 x 2.3 x
Yield 4.67% 3.92% 3.07% 5% 5.53% 6.07% 6.12% 5.95%
Capitalization / Revenue 173 x 161 x 220 x - - 214,720 x 214,720 x -
EV / Revenue 168 x 156 x 215 x - - 300,988 x 289,215 x -
EV / EBITDA 2,482 x -619 x -430 x 96 x 3.66 x 3.37 x 2.91 x 2.65 x
EV / FCF 27.7 x 21.7 x 34 x 19.3 x 10.6 x 14.2 x 11.9 x 11.9 x
FCF Yield 3.61% 4.61% 2.94% 5.18% 9.46% 7.02% 8.41% 8.41%
Price to Book 0.58 x 0.48 x 0.61 x 0.31 x 0.26 x 0.22 x 0.21 x 0.2 x
Nbr of stocks (in thousands) 306,250 306,250 306,250 306,250 306,250 306,250 - -
Reference price 2 66.64 56.40 83.44 51.24 46.32 43.00 43.00 43.00
Announcement Date 13/03/20 23/03/21 29/03/22 23/03/23 21/03/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 118 107 116 - - 0.0613 0.0613 -
EBITDA 1 8 -27 -58 159 5,413 5,480 6,088 6,242
EBIT 1 4,393 2,592 4,572 4,691 5,412 5,473 5,911 6,241
Operating Margin 3,722.88% 2,422.43% 3,941.38% - - 8,924,417.09% 9,638,186.86% -
Earnings before Tax (EBT) 1 4,418 2,646 4,565 4,634 5,143 5,576 6,087 6,078
Net income 1 4,400 2,623 4,566 4,787 5,096 5,194 5,555 5,636
Net margin 3,728.81% 2,451.4% 3,936.21% - - 8,468,135.33% 9,057,594.28% -
EPS 2 14.39 8.570 14.90 15.32 16.64 16.96 18.18 18.67
Free Cash Flow 1 716 771 733 791 1,873 1,296 1,491 1,392
FCF margin 606.78% 720.56% 631.9% - - 2,113,973.59% 2,431,110.39% -
FCF Conversion (EBITDA) 8,950% - - 497.48% 34.6% 23.66% 24.49% 22.31%
FCF Conversion (Net income) 16.27% 29.39% 16.05% 16.52% 36.75% 24.96% 26.84% 24.71%
Dividend per Share 2 3.110 2.210 2.560 2.560 2.560 2.612 2.631 2.558
Announcement Date 13/03/20 23/03/21 29/03/22 23/03/23 21/03/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q4 2021 S2 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4
Net sales 64 50 57 53 35 63 - - - - -
EBITDA 1 - - - - - - - - - - 1,398
EBIT 1 - - - - 1,246 - 813 1,351 - 1,557 1,397
Operating Margin - - - - 3,560% - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - -
Net income 1 - - - - 1,267 - - 1,265 - 1,493 1,295
Net margin - - - - 3,620% - - - - - -
EPS 2 - - - - 4.140 - - - 7.540 4.879 4.221
Dividend per Share - - - - - - - - - - -
Announcement Date 13/03/20 10/08/20 23/03/21 10/08/21 29/03/22 29/03/22 23/03/23 15/05/23 08/08/23 13/11/23 21/03/24
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - 5,609 5,291 4,569 3,396
Net Cash position 1 553 563 641 421 - - - -
Leverage (Debt/EBITDA) - - - - 1.036 x 0.9655 x 0.7505 x 0.544 x
Free Cash Flow 1 716 771 733 791 1,873 1,297 1,491 1,393
ROE (net income / shareholders' equity) 12.8% 7.37% 11.7% 10% 9.48% 9.23% 9.04% 8.59%
ROA (Net income/ Total Assets) 12.7% 7.3% 11.6% 9.45% 8.36% 9.07% 9.19% -
Assets 1 34,579 35,921 39,396 50,660 60,935 57,243 60,465 -
Book Value Per Share 2 115.0 117.0 138.0 168.0 181.0 194.0 209.0 220.0
Cash Flow per Share 2 2.360 2.530 4.790 5.170 6.120 5.310 5.590 5.020
Capex 1 6 2 23 - - 1 1 -
Capex / Sales 5.08% 1.87% 19.83% - - 1,630.52% 1,630.52% -
Announcement Date 13/03/20 23/03/21 29/03/22 23/03/23 21/03/24 - - -
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

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
10
Last Close Price
43 EUR
Average target price
60.4 EUR
Spread / Average Target
+40.47%
Consensus
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