Mercedes-Benz Group Past Earnings Performance
Past criteria checks 0/6
Mercedes-Benz Group's earnings have been declining at an average annual rate of -8.5%, while the Auto industry saw earnings declining at 15% annually. Revenues have been growing at an average rate of 0.9% per year. Mercedes-Benz Group's return on equity is 5.3%, and it has net margins of 3.7%.
Key information
-8.48%
Earnings growth rate
-6.74%
EPS growth rate
| Auto Industry Growth | 11.90% |
| Revenue growth rate | 0.88% |
| Return on equity | 5.29% |
| Net Margin | 3.74% |
| Next Earnings Update | 28 Jul 2026 |
Recent past performance updates
Recent updates
Narrative Update • May 17
MBG: Premium Franchise And Buybacks Will Support Repriced Risk Environment
Analysts have trimmed their average fair value estimate for Mercedes-Benz Group to about €61 from about €63, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E that are in line with recent price target adjustments from UBS, Morgan Stanley, Citi and RBC Capital. Analyst Commentary Bullish Takeaways Some bullish analysts are comfortable with a fair value in the high €50s to around €60, pointing to updated models that support this range even after revisiting margin and growth assumptions.
Narrative Update • May 02
MBG: Execution On China Charging Expansion Will Support Future Capital Returns
Analyst price targets for Mercedes-Benz Group have recently shifted within a relatively tight range, with cuts of €1 to €8 from several firms partly offset by a €2 increase from another bank, as analysts factor in updated expectations for revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent research around Mercedes-Benz Group reflects a mix of caution and optimism, with several firms fine tuning their price targets as they reassess revenue potential, margin resilience, and the valuation that investors might be willing to pay on future earnings.
Narrative Update • Apr 16
MBG: Chip Supply Risks And Cautious Sentiment Will Pressure Future Earnings
Analyst price targets for Mercedes-Benz Group have edged lower by a few euros, with recent cuts of €1 to €8 from UBS, Morgan Stanley, and RBC Capital partially offset by Citi's €2 increase. This reflects a more balanced but slightly cautious stance on the shares.Narrative Update • Apr 02
MBG: Chip Supply Uncertainty Will Sustain Pressure On Future Earnings Potential
Analyst price targets for Mercedes-Benz Group have seen a mixed reset recently, with some firms trimming estimates and others lifting them into a €56 to €74 range. This has contributed to a modest uptick in the implied fair value to about €46.90 as analysts factor in updated assumptions on revenue growth, profit margins and future P/E expectations.Narrative Update • Mar 18
MBG: Higher Execution Confidence And Capital Returns Will Support Future Upside
Narrative Update: Mercedes-Benz Group Analyst Price Targets The analyst price target for Mercedes-Benz Group has been revised upward by €9. Recent research points to slightly higher revenue growth and profit margin assumptions, alongside updated P/E expectations, as key drivers behind the change.Narrative Update • Mar 04
MBG: Execution And Margin Risks Will Pressure Future Earnings Potential
Analysts have made a modest trim to their price expectations for Mercedes-Benz Group, with the updated fair value edging down slightly in line with a small cut to one firm's target to €56, while others have lifted their targets to €70 and €74 as they factor in revised discount rates, lower revenue and margin assumptions, and a higher future P/E. Analyst Commentary Recent research on Mercedes-Benz Group reflects a mixed set of views, with some firms adjusting price targets higher and at least one bearish analyst trimming expectations.Narrative Update • Feb 18
MBG: Premium Focus And Capital Returns Will Support Future Upside Potential
Analysts have trimmed their central fair value estimate for Mercedes-Benz Group to €75.00, reflecting slightly lower long term growth and margin assumptions, even as recent Street research has gradually raised published price targets into the €70 to €74 range on confidence in the company's balance sheet and capital return approach. Analyst Commentary Recent Street research has leaned constructive on Mercedes-Benz Group, with several large houses refining their views around capital returns, premium positioning and balance sheet strength.Narrative Update • Feb 04
MBG: Chip Shortages And Policy Pressures Will Restrain Future Earnings Potential
Analysts have nudged their price targets for Mercedes-Benz Group higher, reflected in a fair value estimate moving from €45.96 to €46.41, citing a series of recent target raises and generally supportive views on the company's balance sheet and capital allocation. Analyst Commentary Recent research updates on Mercedes-Benz Group point to generally constructive views, with several large banks assigning price targets that sit well above the current fair value estimate of €46.41.Narrative Update • Jan 21
MBG: Chip Shortages Will Pressure Margins And Limit Upside Potential
Analysts have raised their fair value estimate for Mercedes-Benz Group from €40.00 to about €45.96, citing expectations of a more predictable backdrop for carmakers by 2026, relatively stable profit margin assumptions, and a modestly higher future P/E multiple in their updated models. Analyst Commentary Recent Street research on Mercedes-Benz Group points to a generally constructive stance on the stock, but with a clear split between more optimistic houses and those that remain cautious.Narrative Update • Jan 07
MBG: Premium Positioning And Balance Sheet Strength Will Confront Tariff And Supply Risks
Narrative Update The updated analyst price target for Mercedes-Benz reflects a small fair value change to about €62.80 from roughly €62.76, with analysts pointing to sector headwinds, the stock's valuation versus other European premium car makers, and support from the company's balance sheet and capital allocation approach as key factors behind recent target revisions from several firms. Analyst Commentary Recent Street research on Mercedes-Benz Group highlights a mix of optimism around valuation support and balance sheet strength, alongside more cautious views expressed through neutral and hold ratings.Analysis Article • Jan 05
Does Mercedes-Benz Group (ETR:MBG) Have A Healthy Balance Sheet?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Narrative Update • Dec 23
MBG: Future Performance Will Reflect Premium Positioning Amid Tariff And Supply Chain Risks
Analysts have nudged their price targets for Mercedes-Benz Group higher, citing a modest uplift in fair value to about EUR 62.76 from roughly EUR 62.54. They highlight the company’s healthy balance sheet, shareholder-friendly capital allocation and perceived undervaluation in the premium auto segment despite broader industry headwinds.Narrative Update • Dec 09
MBG: Future Performance Will Reflect Balance Sheet Strength Amid Tariff And China Risks
Analysts have nudged their price target for Mercedes-Benz Group modestly higher, lifting fair value by about EUR 1 to roughly EUR 62.5. They cite a healthier balance sheet, shareholder friendly capital allocation and recent upward revisions to Street targets, despite lingering concerns around tariffs and China exposure. Analyst Commentary Street research on Mercedes-Benz Group has turned incrementally more constructive, with several firms lifting price targets while at least one voice has turned more cautious on near term macro and policy risks.Analysis Article • Dec 05
Mercedes-Benz Group AG's (ETR:MBG) Earnings Are Not Doing Enough For Some Investors
With a price-to-earnings (or "P/E") ratio of 9.3x Mercedes-Benz Group AG ( ETR:MBG ) may be sending bullish signals at...Narrative Update • Nov 25
MBG: Future Performance Will Reflect Balance Sheet Strength Amid Sector Uncertainty
The analyst price target for Mercedes-Benz Group has been raised slightly, increasing by approximately EUR 0.59 to EUR 61.55. Analysts cite the company's healthy balance sheet and resilient positioning amid sector challenges.Narrative Update • Nov 10
MBG: Fair Value Outlook Balances Trade Headwinds With Demand And Industry News
The analyst price target for Mercedes-Benz Group has increased modestly, rising from €60.08 to €60.96. Analysts cite improved revenue growth expectations and stable profit margins as factors supporting the updated valuation.Narrative Update • Sep 04
New EV Models And Digital Platforms Will Drive Electrification
As Mercedes-Benz Group’s future P/E and consensus revenue growth forecasts both remained virtually unchanged, analysts have maintained their fair value price target at €60.08. What's in the News Mercedes-Benz pension trust sold its entire stake in Nissan for $324.65M, following a planned share sale worth approximately $346M (Reuters).Analysis Article • Aug 26
At €54.60, Is It Time To Put Mercedes-Benz Group AG (ETR:MBG) On Your Watch List?
Let's talk about the popular Mercedes-Benz Group AG ( ETR:MBG ). The company's shares saw a decent share price growth...Analysis Article • Jul 20
Returns At Mercedes-Benz Group (ETR:MBG) Are On The Way Up
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...Analysis Article • Jun 20
Is Mercedes-Benz Group (ETR:MBG) Using Too Much Debt?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...
New Narrative • Nov 07
Electrifying Product Expansion And Tactical Focus Drive Future Growth Prospects
The company's product expansion and operational efficiency efforts are set to boost revenues, margins, and overall earnings, with a focus on high-demand models.Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Mercedes-Benz Group makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 130,592 | 4,881 | 9,975 | 5,440 |
| 31 Dec 25 | 132,214 | 5,141 | 10,083 | 5,659 |
| 30 Sep 25 | 136,974 | 6,250 | 11,311 | 5,712 |
| 30 Jun 25 | 139,355 | 6,810 | 11,095 | 5,718 |
| 31 Mar 25 | 142,945 | 8,911 | 11,129 | 5,719 |
| 31 Dec 24 | 145,594 | 10,207 | 11,167 | 5,580 |
| 30 Sep 24 | 147,120 | 10,840 | 11,556 | 5,981 |
| 30 Jun 24 | 149,593 | 12,743 | 11,609 | 5,840 |
| 31 Mar 24 | 150,747 | 13,290 | 11,672 | 6,015 |
| 31 Dec 23 | 152,390 | 14,261 | 11,573 | 6,230 |
| 30 Sep 23 | 153,417 | 15,125 | 11,003 | 6,111 |
| 30 Jun 23 | 154,132 | 15,412 | 11,109 | 6,095 |
| 31 Mar 23 | 152,675 | 14,956 | 10,859 | 5,908 |
| 31 Dec 22 | 150,017 | 14,501 | 10,663 | 5,602 |
| 30 Sep 22 | 144,254 | 12,899 | 10,496 | 5,385 |
| 30 Jun 22 | 138,185 | 10,837 | 10,324 | 5,211 |
| 31 Mar 22 | 135,869 | 10,763 | 10,214 | 5,246 |
| 31 Dec 21 | 133,893 | 10,660 | 10,252 | 5,385 |
| 30 Sep 21 | 135,337 | 11,491 | 10,099 | 5,196 |
| 30 Jun 21 | 135,310 | 11,332 | 9,772 | 5,089 |
| 31 Mar 21 | 117,437 | 6,942 | 8,707 | 4,491 |
| 31 Dec 20 | 121,778 | 3,649 | 9,659 | 4,697 |
| 30 Sep 20 | 132,221 | 330 | 11,230 | 5,401 |
| 30 Jun 20 | 143,871 | 347 | 12,813 | 5,921 |
| 31 Mar 20 | 170,270 | 376 | 15,056 | 6,604 |
| 31 Dec 19 | 172,745 | 2,377 | 15,370 | 6,586 |
| 30 Sep 19 | 172,228 | 4,047 | 14,129 | 6,511 |
| 30 Jun 19 | 169,169 | 4,017 | 15,396 | 6,522 |
| 31 Mar 19 | 167,275 | 7,071 | 15,494 | 6,573 |
| 31 Dec 18 | 167,362 | 7,249 | 15,379 | 6,581 |
| 30 Sep 18 | 164,365 | 8,819 | 15,528 | 6,536 |
| 30 Jun 18 | 164,899 | 9,276 | 15,255 | 6,408 |
| 31 Mar 18 | 165,357 | 9,994 | 15,273 | 6,202 |
| 31 Dec 17 | 164,154 | 10,278 | 15,234 | 5,938 |
| 30 Sep 17 | 161,542 | 9,296 | 16,133 | 5,965 |
| 30 Jun 17 | 159,394 | 9,745 | 14,917 | 5,616 |
| 31 Mar 17 | 156,796 | 9,730 | 14,612 | 5,465 |
| 31 Dec 16 | 153,261 | 8,526 | 14,385 | 5,255 |
| 30 Sep 16 | 152,688 | 8,184 | 14,266 | 5,109 |
| 30 Jun 16 | 151,367 | 7,974 | 14,090 | 4,943 |
| 31 Mar 16 | 150,278 | 7,814 | 14,276 | 4,869 |
| 31 Dec 15 | 149,467 | 8,424 | 14,387 | 4,757 |
| 30 Sep 15 | 144,788 | 7,713 | 14,390 | 4,700 |
| 30 Jun 15 | 140,634 | 8,063 | 14,566 | 4,695 |
Quality Earnings: MBG has a large one-off loss of €2.2B impacting its last 12 months of financial results to 31st March, 2026.
Growing Profit Margin: MBG's current net profit margins (3.7%) are lower than last year (6.2%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: MBG's earnings have declined by 8.5% per year over the past 5 years.
Accelerating Growth: MBG's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: MBG had negative earnings growth (-45.2%) over the past year, making it difficult to compare to the Auto industry average (-35.3%).
Return on Equity
High ROE: MBG's Return on Equity (5.3%) is considered low.
Return on Assets
Return on Capital Employed
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/20 10:34 |
| End of Day Share Price | 2026/05/20 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Mercedes-Benz Group AG is covered by 44 analysts. 21 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Gerhard Schwarz | Baader Helvea Equity Research |
| null null | Banco de Sabadell. S.A. |
| Eduardo González Martín | Banco Santander |