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Germany's largest automaker, selling mass-market and luxury vehicles under VW, Audi, Porsche, Skoda, SEAT and Bentley brands.
Germany's largest automaker, selling mass-market and luxury vehicles under VW, Audi, Porsche, Skoda, SEAT and Bentley brands.
Sells cars across a ladder of brands from Skoda to Bentley through dealers, with a captive finance arm lending to buyers. Porsche SE, the holding company of the Porsche and Piech families, holds the controlling votes, while the state of Lower Saxony holds a blocking stake under a special Volkswagen law. Its Chinese joint ventures long supplied a large part of profit.
In one line: Germany's General Motors (multi-brand mass automaker).
Moat: narrow (scale, brand, distribution). Largest European automaker by volume with multiple brands and platforms, but thin margins in mass-market segments.
Headquarters: Wolfsburg, Germany · Founded: 1937 · Employees: 662,942
Size Volkswagen (VOW.DE) is a Germany Consumer Discretionary company (Motor Vehicles) with a market value of $39.1B, the 23rd largest of 205 Germany companies the cockpit tracks. Shares closed at €69.50 on 6 Nov 2026.
Performance Over six months the shares fell 23.5%, against -0.2% for the median peer and +2.6% for the Germany market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue fell 2.9% over the last twelve months (peer median +6.0%); the operating margin is 6.6% (peer median 6.0%).
Valuation It trades at 5.5× forward earnings against a peer median of 10.6× (2nd cheapest of 20).
Capital Return on invested capital runs 1.5 points below its cost of capital (5.0% WACC).
Credit Volkswagen has 92 bonds outstanding ($72.9B), rated BBB+ by the agencies and trading like BBB- at a weighted spread of 123 bp.
Next results Next results expected around 16 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €317B | €322B | €325B | €322B | €279B |
| Revenue growth | — | -1% | +1% | +15% | — |
| Gross profit | €56.5B | €72.9B | €61.0B | €62.0B | €52.6B |
| EBITDA | €58.2B | €48.5B | €54.3B | €54.1B | €44.5B |
| Net income | €1.08B | €6.67B | €10.7B | €15.9B | €14.9B |
| Free cash flow | -€7.49B | -€9.34B | -€10.3B | -€6.44B | €5.83B |
| Capital expenditure | €22.9B | €24.3B | €27.4B | €25.8B | €22.7B |
| Total debt | €293B | €279B | €268B | €248B | €219B |
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 |
|---|---|---|---|---|---|---|
| Volkswagen VOW.DE | $39.1B | -24% | -3% | 7% | 5.5× | n/a |
| Stellantis STLAP.PA | $17.0B | -40% | -2% | -14% | 8.2× | n/a |
| Toyota Motor 7203.T | $251B | +10% | +7% | 7% | 10.6× | n/a |
| General Motors GM | $72.7B | +10% | 0% | 2% | 6.1× | 23.9% |
| Renault RNO.PA | $9.39B | +2% | +6% | 6% | 4.9× | 3.4% |
| BYD 1211.HK | $98.9B | -26% | 0% | 4% | 15.8× | 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 | VOW.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.9% | +7.5% | 9th lowest of 21 |
| 6-month return | -23.5% | -0.2% | 5th lowest of 21 |
| Distance from 52-week high | -36.9% | -18.8% | 7th lowest of 21 |
| Revenue growth (TTM) | -2.9% | +6.0% | 6th lowest of 21 |
| Operating margin | 6.6% | 6.0% | 8th highest of 21 |
| Forward P/E | 5.5× | 10.6× | 2nd cheapest of 20 |
| ROIC minus cost of capital | -1.5 pp | -1.2 pp | 11th highest of 21 |
| EV / EBITDA | 4.6× | 10.7× | cheapest of 16 |
| Net debt / EBITDA | 3.8× | 3.3× | 8th most indebted of 16 |
| Bond spread | 123 bp | 103 bp | 2nd widest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Volkswagen VOW.DE | Germany | $39.1B | -24% | -3% | 7% | 5.5× | n/a | n/a |
| Bayerische Motoren Werke BMW.DE | Germany | $40.3B | -22% | -6% | 6% | 9.7× | n/a | n/a |
| Maruti Suzuki India MARUTI.NS | India | $42.3B | -7% | +30% | 7% | 30.1× | 27.7% | +21.1% |
| Mahindra & Mahindra M&M.NS | India | $43.1B | -2% | +26% | 15% | 24.0× | 13.6% | +21.5% |
| Daimler Truck DTG.DE | Germany | $34.7B | -1% | -14% | 5% | 10.6× | 9.8% | +4.8% |
| Mercedes-Benz MBG.DE | Germany | $44.9B | -19% | -7% | 5% | 7.9× | 4.5% | +1.7% |
| Honda Motor 7267.T | Japan | $45.2B | +45% | +4% | -1% | 11.7× | 18.2% | +10.6% |
| HyundaiMtr 005380.KS | South Korea | $47.5B | -47% | +1% | 5% | 7.3× | n/a | n/a |
| Porsche P911.DE | Germany | $47.8B | 0% | -10% | 6% | 22.9× | 17.3% | +4.8% |
| Bajaj Auto BAJAJ-AUTO.NS | India | $31.7B | +3% | +48% | 19% | 24.0× | 27.3% | +17.4% |
| Ford Motor F | United States | $48.8B | +2% | -1% | 2% | 7.0× | 25.6% | +8.1% |
| Kia 000270.KS | South Korea | $28.3B | -34% | +8% | 7% | 5.4× | -12.9% | +14.0% |
| Suzuki Motor 7269.T | Japan | $27.3B | +26% | +14% | 9% | 9.1× | -0.8% | +14.6% |
| TVS Motor TVSMOTOR.NS | India | $22.6B | +21% | +34% | 12% | 42.5× | n/a | n/a |
| Eicher Motors EICHERMOT.NS | India | $22.3B | +5% | +28% | 21% | 33.0× | 36.0% | +21.8% |
| General Motors GM | United States | $72.7B | +10% | 0% | 2% | 6.1× | 23.9% | +8.6% |
| Geely Auto 0175.HK | Hong Kong | $20.1B | -34% | +27% | 4% | 6.5× | -9.3% | +29.3% |
| Rivian Automotive RIVN | United States | $19.9B | -4% | +11% | -53% | n/a | n/a | n/a |
| 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% |
| SAIC Motor 600104.SS | China | $17.8B | -24% | -3% | 2% | 11.9× | -14.7% | -2.4% |
Volkswagen has 92 bonds outstanding with $72.9B face value. The agencies rate it BBB+; its bonds trade like BBB-. Weighted yield 4.62%, a spread of 123 bp over government bonds.