Added to YB: 2024-05-08
Pitch date: 2024-03-22
VWAPY [bullish]
Volkswagen AG
+6.04%
current return
Author Info
No bio for this author
Company Info
Volkswagen AG manufactures and sells automobiles in Germany, other European countries, North America, South America, the Asia-Pacific, and internationally.
Market Cap
EUR 44.6B
Pitch Price
EUR 102.42
Price Target
18.50 (-83%)
Dividend
7.27%
EV/EBITDA
7.41
P/E
4.09
EV/Sales
0.82
Sector
Automobiles
Category
value
Volkswagen AG - $VWAPY
VWAPY: Trades at 4.4x forward earnings, 6x FCF. Porsche 75% stake + Lamborghini worth $16-17/share. Finco solid, 0 negative profit yrs. Audi ~€20B. 3-6% EPS growth since '13. 7.5% yield. #3 in BEV sales. Upside to $18.59 (50%+) at 40% SOTP discount. Risks: no spinoffs planned, Europe weakness, losing China share, high spending for EVs. $10 downside (8.4% yield). Q4: Auto FCF €10B, EVs +35%. 2023 guide soft. M&A spend concerning. Trades at record low multiples vs peers (F 7x, GM 5x, TM 11x). PT $18.50 (5x earnings) = 5% yield. Catalyst: none, but paid to wait.
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