Volkswagen AG

  • Ticker766400
  • ISINDE0007664005
  • SectorAutomobiles & Parts
  • CountryGermany

Analysts

Valens Research

VOW3:DEU - Embedded Expectations Analysis - 2018 12 05

Volkswagen Aktiengesellschaft (VOW3:DEU) currently trades near historical averages relative to UAFRS-based (Uniform) Assets, with a 1.1x Uniform P/B. At these levels, the market has muted expectations for the firm, and management may have concerns about maintaining strong performance, meeting guidance targets, and international segment performance Specifically, management may lack confidence in their ability to maintain strong momentum from the start of the year, and may be concerned about the underlying market strength and market conditions for a potential Traton IPO. Additionally, they may ...

Richard Hilgert

Morningstar | VOW Updated Forecasts and Estimates from 16 Nov 2018

No-moat-rated Volkswagen reported earnings per diluted preferred share before special items, or EPS, of EUR 6.56. The result blew away the consensus EPS estimate of EUR 5.13 and was well ahead of the EUR 5.82 reported in the third quarter of 2017. Even so, a reduced effective tax rate versus the year-ago period was the primary driver behind the EPS outperformance. Volkswagen stock is attractively valued in our view, currently trading at 4-stars and a 33% discount to our EUR 230 fair value estimate. Consolidated revenue increased 1% to EUR 55.2 billion from EUR 54.7 billion despite a 4.3% decl...

Richard Hilgert

Morningstar | Volkswagen 3Q Results Solid Despite Challenges; Maintaining EUR 230 FVE

No-moat-rated Volkswagen reported earnings per diluted preferred share before special items, or EPS, of EUR 6.56. The result blew away the consensus EPS estimate of EUR 5.13 and was well ahead of the EUR 5.82 reported in the third quarter of 2017. Even so, a reduced effective tax rate versus the year-ago period was the primary driver behind the EPS outperformance. Volkswagen stock is attractively valued in our view, currently trading at 4-stars and a 33% discount to our EUR 230 fair value estimate. Consolidated revenue increased 1% to EUR 55.2 billion from EUR 54.7 billion despite a 4.3% decl...

Richard Hilgert

Volkswagen 3Q Results Solid Despite Challenges; Maintaining EUR 230 FVE

No-moat-rated Volkswagen reported earnings per diluted preferred share before special items, or EPS, of EUR 6.56. The result blew away the consensus EPS estimate of EUR 5.13 and was well ahead of the EUR 5.82 reported in the third quarter of 2017. Even so, a reduced effective tax rate versus the year-ago period was the primary driver behind the EPS outperformance. Volkswagen stock is attractively valued in our view, currently trading at 4-stars and a 33% discount to our EUR 230 fair value estima...

Richard Hilgert

Morningstar | Audi Fined EUR 800 Million by German Public Prosecutor; Maintaining Our EUR 230 FVE for VW

No-moat-rated Volkswagen's Audi brand was fined EUR 800 million by a German public prosecutor, consisting of a maximum penalty of EUR 5 million and a EUR 795 million disgorgement of economic benefits. Audi's press release referred to the prosecutor issuing an "administrative order" against the company for "deviations from regulatory requirements" in the manufacturing and sales of certain Audis equipped with V6 and V8 diesel engines. We view the fine as manageable, given Volkswagen's net liquidity of EUR 26.3 billion at the close of the second quarter. We maintain our EUR 230 fair value estima...

Valens Research

VOW3:DEU - Embedded Expectations Analysis - 2018 12 05

Volkswagen Aktiengesellschaft (VOW3:DEU) currently trades near historical averages relative to UAFRS-based (Uniform) Assets, with a 1.1x Uniform P/B. At these levels, the market has muted expectations for the firm, and management may have concerns about maintaining strong performance, meeting guidance targets, and international segment performance Specifically, management may lack confidence in their ability to maintain strong momentum from the start of the year, and may be concerned about the underlying market strength and market conditions for a potential Traton IPO. Additionally, they may ...

Richard Hilgert

Morningstar | VOW Updated Forecasts and Estimates from 16 Nov 2018

No-moat-rated Volkswagen reported earnings per diluted preferred share before special items, or EPS, of EUR 6.56. The result blew away the consensus EPS estimate of EUR 5.13 and was well ahead of the EUR 5.82 reported in the third quarter of 2017. Even so, a reduced effective tax rate versus the year-ago period was the primary driver behind the EPS outperformance. Volkswagen stock is attractively valued in our view, currently trading at 4-stars and a 33% discount to our EUR 230 fair value estimate. Consolidated revenue increased 1% to EUR 55.2 billion from EUR 54.7 billion despite a 4.3% decl...

Richard Hilgert

Morningstar | Volkswagen 3Q Results Solid Despite Challenges; Maintaining EUR 230 FVE

No-moat-rated Volkswagen reported earnings per diluted preferred share before special items, or EPS, of EUR 6.56. The result blew away the consensus EPS estimate of EUR 5.13 and was well ahead of the EUR 5.82 reported in the third quarter of 2017. Even so, a reduced effective tax rate versus the year-ago period was the primary driver behind the EPS outperformance. Volkswagen stock is attractively valued in our view, currently trading at 4-stars and a 33% discount to our EUR 230 fair value estimate. Consolidated revenue increased 1% to EUR 55.2 billion from EUR 54.7 billion despite a 4.3% decl...

Richard Hilgert

Volkswagen 3Q Results Solid Despite Challenges; Maintaining EUR 230 FVE

No-moat-rated Volkswagen reported earnings per diluted preferred share before special items, or EPS, of EUR 6.56. The result blew away the consensus EPS estimate of EUR 5.13 and was well ahead of the EUR 5.82 reported in the third quarter of 2017. Even so, a reduced effective tax rate versus the year-ago period was the primary driver behind the EPS outperformance. Volkswagen stock is attractively valued in our view, currently trading at 4-stars and a 33% discount to our EUR 230 fair value estima...

Richard Hilgert

Morningstar | Audi Fined EUR 800 Million by German Public Prosecutor; Maintaining Our EUR 230 FVE for VW

No-moat-rated Volkswagen's Audi brand was fined EUR 800 million by a German public prosecutor, consisting of a maximum penalty of EUR 5 million and a EUR 795 million disgorgement of economic benefits. Audi's press release referred to the prosecutor issuing an "administrative order" against the company for "deviations from regulatory requirements" in the manufacturing and sales of certain Audis equipped with V6 and V8 diesel engines. We view the fine as manageable, given Volkswagen's net liquidity of EUR 26.3 billion at the close of the second quarter. We maintain our EUR 230 fair value estima...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch