Company Valuation: Volkswagen AG

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 81,625 112,849 67,576 58,007 45,553 45,496 45,496 -
Change - 38.25% -40.12% -14.16% -21.47% -0.13% 0% -
Enterprise Value (EV) 1 54,829 86,164 24,561 17,718 9,487 11,097 9,556 5,868
Change - 57.15% -71.49% -27.86% -46.46% 16.97% -13.89% -38.59%
P/E ratio 9.15x 5.99x 3.92x 3.5x - 8.33x 4.18x 3.44x
PBR 0.6x 0.62x 0.35x 0.32x - 0.24x 0.23x 0.22x
PEG - 0.1x 29.06x 0.45x - - 0x 0.2x
Capitalization / Revenue 0.37x 0.45x 0.24x 0.18x 0.14x 0.14x 0.14x 0.13x
EV / Revenue 0.25x 0.34x 0.09x 0.05x 0.03x 0.03x 0.03x 0.02x
EV / EBITDA 2.16x 2.66x 0.65x 0.49x 0.26x 0.33x 0.24x 0.13x
EV / EBIT 5.17x 4.47x 1.11x 0.78x 0.5x 1.12x 0.55x 0.29x
EV / FCF 4.01x 3.93x 3.31x 1.66x 1.71x 72.4x 2.35x 0.83x
FCF Yield 24.9% 25.4% 30.2% 60.4% 58.4% 1.38% 42.6% 120%
Dividend per Share 2 4.86 7.56 8.76 9 - 4.427 6.257 7.621
Rate of return 3.19% 4.26% 7.52% 8.05% - 4.92% 6.95% 8.47%
EPS 2 16.66 29.65 29.69 31.98 - 10.81 21.53 26.13
Distribution rate 29.2% 25.5% 29.5% 28.1% - 41% 29.1% 29.2%
Net sales 1 222,884 250,200 279,232 322,284 324,656 324,160 330,146 339,305
EBITDA 1 25,392 32,359 37,721 36,513 36,796 33,968 40,007 43,993
EBIT 1 10,606 19,275 22,124 22,576 19,060 9,875 17,296 20,394
Net income 1 8,824 14,843 14,867 16,013 10,721 5,392 11,040 13,373
Net Debt 1 -26,796 -26,685 -43,015 -40,289 -36,066 -34,399 -35,940 -39,628
Reference price 2 152.42 177.48 116.42 111.80 89.04 89.98 89.98 89.98
Nbr of stocks (in thousands) 501,295 501,295 501,295 501,295 501,295 501,295 501,295 -
Announcement Date 26/02/21 15/03/22 14/03/23 13/03/24 11/03/25 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.07x1.51x13.52x2.75% 291B
12.24x1.37x14.6x2.13% 85.98B
6.27x0.3x2.46x0.97% 67.99B
9.17x0.16x1.45x6.02% 60.45B
7.4x0.03x0.19x4.89% 57.01B
-502.48x0.26x3.74x4.96% 48.47B
25.8x2.43x16.66x0.87% 40.48B
13.14x0.53x8.66x4.87% 36.11B
10.48x0.61x4.55x2.21% 25.98B
Average -45.10x 0.80x 7.31x 3.3% 79.24B
Weighted average by Cap. -23.28x 1.03x 9.45x 3.09%

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