Volkswagen AG

  • Ticker766400
  • ISINDE0007664005
  • SectorAutomobiles & Parts
  • CountryGermany

Analysts

Richard Hilgert

Morningstar | VOW Updated Forecasts and Estimates from 23 Jan 2019

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...

Valens Research

Valens Equity Insights and Inflections - 2018 12 19

KHC currently trades well below recent averages relative to UAFRS-based (Uniform) Earnings, with an 18.9x Uniform P/E (Fwd V/E'). At these valuations, the market is pricing in expectations for Uniform ROA to fall from current 61% levels in 2017 to 56% in 2022, accompanied by 2% Uniform Asset growth going forward. However, analysts have more bullish expectations, projecting Uniform ROA to expand slightly, to 62% levels in 2019, accompanied by 1% Uniform Asset growth. This, coupled with management's excitement about U.S. consumption trends, and confidence in their product innovation pipeline and...

Valens Research

Valens Equity Insights and Inflections - 2018 12 12

EL currently trades near historical highs relative to UAFRS-based (Uniform) Earnings, with a 25.2x Uniform P/E. At these levels, the market is pricing in expectations for Uniform ROA to continue expanding from historical peaks of 27% in 2018 to 33% by 2023, accompanied by 3% Uniform Asset growth going forward. However, analysts have less bullish expectations, projecting Uniform ROA to expand to only 28% by 2020, accompanied by 4% Uniform Asset growth. Additionally, management may be concerned about their ability to meet EPS guidance, the strength of their innovation programs, and weakness acro...

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 | VOW Updated Forecasts and Estimates from 23 Jan 2019

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...

Valens Research

Valens Equity Insights and Inflections - 2018 12 19

KHC currently trades well below recent averages relative to UAFRS-based (Uniform) Earnings, with an 18.9x Uniform P/E (Fwd V/E'). At these valuations, the market is pricing in expectations for Uniform ROA to fall from current 61% levels in 2017 to 56% in 2022, accompanied by 2% Uniform Asset growth going forward. However, analysts have more bullish expectations, projecting Uniform ROA to expand slightly, to 62% levels in 2019, accompanied by 1% Uniform Asset growth. This, coupled with management's excitement about U.S. consumption trends, and confidence in their product innovation pipeline and...

Valens Research

Valens Equity Insights and Inflections - 2018 12 12

EL currently trades near historical highs relative to UAFRS-based (Uniform) Earnings, with a 25.2x Uniform P/E. At these levels, the market is pricing in expectations for Uniform ROA to continue expanding from historical peaks of 27% in 2018 to 33% by 2023, accompanied by 3% Uniform Asset growth going forward. However, analysts have less bullish expectations, projecting Uniform ROA to expand to only 28% by 2020, accompanied by 4% Uniform Asset growth. Additionally, management may be concerned about their ability to meet EPS guidance, the strength of their innovation programs, and weakness acro...

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...

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