Company Valuation: Mercedes-Benz Group AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 72,310 65,688 65,111 50,816 57,467 42,784 - -
Change - -9.16% -0.88% -21.95% 13.09% -25.55% - -
Enterprise Value (EV) 1 51,305 39,051 33,452 19,399 25,305 14,205 13,560 12,050
Change - -23.89% -14.34% -42.01% 30.45% -43.86% -4.54% -11.14%
P/E 3.14x 4.53x 4.65x 5.28x 11.2x 8.03x 6.42x 5.54x
PBR 1x 0.77x 0.72x 0.58x 0.62x 0.47x 0.45x 0.43x
PEG - -0.1x -7x -0.2x -0.2x 1.01x 0.3x 0.3x
Capitalization / Revenue 0.43x 0.44x 0.42x 0.35x 0.43x 0.32x 0.32x 0.31x
EV / Revenue 0.31x 0.26x 0.22x 0.13x 0.19x 0.11x 0.1x 0.09x
EV / EBITDA 1.42x 1.45x 1.27x 0.95x 1.94x 1.01x 0.85x 0.72x
EV / EBIT 1.76x 1.91x 1.7x 1.43x 4.35x 2.07x 1.58x 1.28x
EV / FCF 5.96x 4.8x 2.96x 2.12x 4.67x 3.27x 2.52x 1.97x
FCF Yield 16.8% 20.8% 33.8% 47.2% 21.4% 30.5% 39.7% 50.8%
Dividend per Share 2 5 5.2 5.3 4.3 3.5 3.289 3.501 3.884
Rate of return 7.4% 8.47% 8.47% 7.99% 5.83% 7.11% 7.57% 8.39%
EPS 2 21.5 13.55 13.46 10.19 5.34 5.763 7.208 8.361
Distribution rate 23.3% 38.4% 39.4% 42.2% 65.5% 57.1% 48.6% 46.5%
Net sales 1 167,971 150,017 153,218 145,594 132,214 131,709 135,761 138,779
EBITDA 1 36,049 26,979 26,323 20,371 13,043 14,055 15,918 16,796
EBIT 1 29,069 20,458 19,660 13,599 5,820 6,857 8,579 9,398
Net income 1 23,006 14,501 14,261 10,207 5,141 5,576 6,746 7,460
Net Debt 1 -21,005 -26,637 -31,659 -31,417 -32,162 -28,578 -29,224 -30,734
Reference price 2 67.59 61.40 62.55 53.80 60.07 46.28 46.28 46.28
Nbr of stocks (in thousands) 1,069,837 1,069,837 1,040,937 944,530 956,669 924,351 - -
Announcement Date 24/02/22 17/02/23 22/02/24 20/02/25 12/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.03x0.11x1.01x7.11% 48.93B
9.64x1.24x11.45x3.54% 210B
6.42x0.33x2.65x0.96% 70.01B
9.82x1.27x13.85x2.58% 66.99B
21.57x0.29x3.71x4.25% 56.5B
25.38x1.34x7.54x2.32% 46.31B
3.9x0x0.03x7.61% 43.3B
7.92x-0.07x-0.61x4.94% 40.92B
13.56x0.6x7.17x4.63% 36.3B
21.75x1.89x13.72x1.15% 35.81B
Average 12.80x 0.70x 6.05x 3.91% 65.51B
Weighted average by Cap. 11.73x 0.82x 7.41x 3.69%

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

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  4. Valuation Mercedes-Benz Group AG