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Volkswagen's truck holding company, owning Scania, MAN and Navistar/International brands selling heavy trucks and buses globally.
Volkswagen's truck holding company, owning Scania, MAN and Navistar/International brands selling heavy trucks and buses globally.
Sells trucks and buses through dealers to fleets, with spare parts, servicing and financing adding steadier income alongside cyclical vehicle sales. Volkswagen holds the large majority. The four brands stay separate while sharing components and purchasing. Navistar was bought in full in 2021 to give it a North American base.
In one line: Owns Navistar (International); Europe's Paccar analogue.
Moat: narrow (scale, installed base, distribution). Multi-brand truck platform sharing gives scale, but truck margins are cyclical and price-competitive.
Headquarters: Munich, Germany · Founded: 2018 · Employees: 107,454
Size Traton (8TRA.DE) is a Germany Consumer Discretionary company (Motor Vehicles) with a market value of $18.9B, the 37th largest of 205 Germany companies the cockpit tracks. Shares closed at €33.78 on 6 Nov 2026.
Performance Over six months the shares gained 2.5%, against -3.1% for the median peer and +2.6% for the Germany market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 1.1% over the last twelve months (peer median +8.0%); the operating margin is 6.4% (peer median 5.2%).
Valuation It trades at 6.1× forward earnings against a peer median of 12.0× (4th cheapest of 19).
Capital Return on invested capital runs 2.0 points below its cost of capital (6.3% WACC).
Credit Traton has 25 bonds outstanding ($12.6B), rated BBB by the agencies and trading like BBB- at a weighted spread of 107 bp.
Next results Next results expected around 9 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €45.1B | €44.1B | €47.5B | €46.9B | €40.3B |
| Revenue growth | — | -7% | +1% | +16% | — |
| Gross profit | €11.4B | €10.1B | €9.57B | €8.82B | €6.47B |
| EBITDA | €6.20B | €6.10B | €7.61B | €7.03B | €5.14B |
| Net income | €3.12B | €1.55B | €2.80B | €2.45B | €1.14B |
| Free cash flow | -€1.53B | -€1.89B | -€401M | €374M | -€2.57B |
| Capital expenditure | €2.79B | €2.80B | €2.74B | €2.21B | €1.91B |
| Total debt | €29.3B | €27.4B | €24.3B | €21.7B | €21.1B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Traton 8TRA.DE | $18.9B | +2% | +1% | 6% | 6.1× | n/a |
| Daimler Truck DTG.DE | $34.7B | -1% | -14% | 5% | 10.6× | 9.8% |
| Volvo VOLV-A.ST | $65.2B | -1% | -3% | 12% | 14.7× | 5.4% |
| Paccar PCAR | $53.7B | -11% | -1% | 11% | 15.4× | 11.2% |
| Iveco IVG.MI | $5.55B | +3% | -5% | 3% | 12.7× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 8TRA.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.9% | +1.9% | 11th highest of 21 |
| 6-month return | +2.5% | -3.1% | 9th highest of 21 |
| Distance from 52-week high | -18.4% | -26.6% | 9th highest of 21 |
| Revenue growth (TTM) | +1.1% | +8.0% | 8th lowest of 20 |
| Operating margin | 6.4% | 5.2% | 10th highest of 21 |
| Forward P/E | 6.1× | 12.0× | 4th cheapest of 19 |
| ROIC minus cost of capital | -2.0 pp | +1.7 pp | 8th lowest of 20 |
| EV / EBITDA | 7.0× | 14.9× | 4th cheapest of 12 |
| Net debt / EBITDA | 4.3× | -0.8× | 2nd most indebted of 12 |
| Bond spread | 107 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Traton 8TRA.DE | Germany | $18.9B | +2% | +1% | 6% | 6.1× | n/a | n/a |
| Hyundai Motor India HYUNDAI.NS | India | $18.3B | +16% | +8% | 7% | 33.0× | 26.6% | +11.8% |
| Rivian Automotive RIVN | United States | $19.9B | -4% | +11% | -53% | n/a | n/a | n/a |
| SAIC Motor 600104.SS | China | $17.8B | -24% | -3% | 2% | 11.9× | -14.7% | -2.4% |
| Geely Auto 0175.HK | Hong Kong | $20.1B | -34% | +27% | 4% | 6.5× | -9.3% | +29.3% |
| Chery Automobile 9973.HK | Hong Kong | $17.8B | -22% | +11% | 5% | 5.8× | n/a | n/a |
| Stellantis STLAP.PA | France | $17.0B | -40% | -2% | -14% | 8.2× | n/a | n/a |
| Tata Motors TMCV.NS | India | $16.6B | -2% | n/a | 9% | 20.7× | 17.8% | n/a |
| Eicher Motors EICHERMOT.NS | India | $22.3B | +5% | +28% | 21% | 33.0× | 36.0% | +21.8% |
| TVS Motor TVSMOTOR.NS | India | $22.6B | +21% | +34% | 12% | 42.5× | n/a | n/a |
| Great Wall Motor 2333.HK | Hong Kong | $15.7B | -48% | +13% | 2% | 5.9× | -5.1% | +15.6% |
| Suzuki Motor 7269.T | Japan | $27.3B | +26% | +14% | 9% | 9.1× | -0.8% | +14.6% |
| Kia 000270.KS | South Korea | $28.3B | -34% | +8% | 7% | 5.4× | -12.9% | +14.0% |
| Li Auto-w 2015.HK | Hong Kong | $12.4B | -32% | -24% | -7% | n/a | n/a | n/a |
| Subaru 7270.T | Japan | $12.3B | +16% | 0% | 3% | 12.0× | 2.7% | +11.1% |
| Hero Motocorp HEROMOTOCO.NS | India | $11.7B | +3% | +27% | 12% | 19.1× | 14.1% | +9.2% |
| Shimano 7309.T | Japan | $11.5B | +29% | +5% | 12% | 35.8× | 6.0% | +4.3% |
| Tata Motors Passenger Vehicles TMPV.NS | India | $11.4B | -19% | -22% | 0% | 10.7× | n/a | n/a |
| Seres 9927.HK | Hong Kong | $11.4B | -54% | -2% | -4% | 90.9× | n/a | n/a |
| Bajaj Auto BAJAJ-AUTO.NS | India | $31.7B | +3% | +48% | 19% | 24.0× | 27.3% | +17.4% |
| Daimler Truck DTG.DE | Germany | $34.7B | -1% | -14% | 5% | 10.6× | 9.8% | +4.8% |
Traton has 25 bonds outstanding with $12.6B face value. The agencies rate it BBB; its bonds trade like BBB-. Weighted yield 4.23%, a spread of 107 bp over government bonds.