XTRA:PAH3

Stock Analysis Report

Porsche Automobil Holding

Executive Summary

Porsche Automobil Holding SE, through its subsidiaries, operates as an automobile manufacturer worldwide.


Snowflake Analysis

Undervalued with solid track record and pays a dividend.


Similar Companies

Share Price & News

How has Porsche Automobil Holding's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PAH3's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-10.2%

PAH3

-9.0%

DE Auto

-2.7%

DE Market


1 Year Return

-38.6%

PAH3

-32.7%

DE Auto

-20.4%

DE Market

Return vs Industry: PAH3 underperformed the German Auto industry which returned -32.7% over the past year.

Return vs Market: PAH3 underperformed the German Market which returned -20.4% over the past year.


Shareholder returns

PAH3IndustryMarket
7 Day-10.2%-9.0%-2.7%
30 Day-35.4%-25.6%-18.4%
90 Day-45.3%-36.8%-26.7%
1 Year-36.2%-38.6%-29.8%-32.7%-18.1%-20.4%
3 Year-19.5%-25.9%-26.8%-33.4%-19.1%-25.9%
5 Year-54.9%-60.5%-48.3%-55.2%-19.5%-30.4%

Price Volatility Vs. Market

How volatile is Porsche Automobil Holding's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Porsche Automobil Holding undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PAH3 (€36.76) is trading below our estimate of fair value (€71.98)

Significantly Below Fair Value: PAH3 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: PAH3 is good value based on its PE Ratio (2.6x) compared to the Auto industry average (8.4x).

PE vs Market: PAH3 is good value based on its PE Ratio (2.6x) compared to the German market (16.2x).


Price to Earnings Growth Ratio

PEG Ratio: PAH3's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: PAH3 is good value based on its PB Ratio (0.3x) compared to the DE Auto industry average (0.5x).


Next Steps

Future Growth

How is Porsche Automobil Holding forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

-0.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PAH3's earnings are forecast to decline over the next 3 years (-0.8% per year).

Earnings vs Market: PAH3's earnings are forecast to decline over the next 3 years (-0.8% per year).

High Growth Earnings: PAH3's earnings are forecast to decline over the next 3 years.

Revenue vs Market: PAH3's revenue (1.5% per year) is forecast to grow slower than the German market (4% per year).

High Growth Revenue: PAH3's revenue (1.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PAH3's Return on Equity is forecast to be low in 3 years time (11.3%).


Next Steps

Past Performance

How has Porsche Automobil Holding performed over the past 5 years?

25.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PAH3 has high quality earnings.

Growing Profit Margin: PAH3's current net profit margins are higher than last year .


Past Earnings Growth Analysis

Earnings Trend: PAH3's earnings have grown significantly by 25.1% per year over the past 5 years.

Accelerating Growth: PAH3's earnings growth over the past year (26.3%) exceeds its 5-year average (25.1% per year).

Earnings vs Industry: PAH3 earnings growth over the past year (26.3%) exceeded the Auto industry -8.9%.


Return on Equity

High ROE: PAH3's Return on Equity (12.5%) is considered low.


Next Steps

Financial Health

How is Porsche Automobil Holding's financial position?


Financial Position Analysis

Short Term Liabilities: PAH3's short term assets (€684.0M) exceed its short term liabilities (€102.0M).

Long Term Liabilities: PAH3's short term assets (€684.0M) exceed its long term liabilities (€206.0M).


Debt to Equity History and Analysis

Debt Level: PAH3's debt to equity ratio (0.03%) is considered satisfactory.

Reducing Debt: PAH3's debt to equity ratio has reduced from 1% to 0.03% over the past 5 years.

Debt Coverage: PAH3's debt is well covered by operating cash flow (6016.7%).

Interest Coverage: Insufficient data to determine if PAH3's interest payments on its debt are well covered by EBIT.


Balance Sheet

Inventory Level: PAH3 has a low level of unsold assets or inventory.

Debt Coverage by Assets: PAH3's debt is covered by short term assets (assets are 57x debt).


Next Steps

Dividend

What is Porsche Automobil Holding's current dividend yield, its reliability and sustainability?

8.49%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: PAH3's dividend (8.46%) is higher than the bottom 25% of dividend payers in the German market (1.65%).

High Dividend: PAH3's dividend (8.46%) is in the top 25% of dividend payers in the German market (4.86%)


Stability and Growth of Payments

Stable Dividend: PAH3's dividend payments have been volatile in the past 10 years.

Growing Dividend: PAH3's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (21.6%), PAH3's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PAH3's dividends in 3 years are forecast to be well covered by earnings (19.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.7yrs

Average management tenure


CEO

Hans Pötsch (68yo)

4.42s

Tenure

€874,791

Compensation

Dr. Hans Dieter Pötsch, M.Sc., has been Chairman of the Supervisory Board at Traton SE since January 2019. He has been the Chief Financial Officer of Porsche Automobil Holding SE since November 25, 2009 an ...


CEO Compensation Analysis

Compensation vs Market: Hans's total compensation ($USD961.31K) is below average for companies of similar size in the German market ($USD5.21M).

Compensation vs Earnings: Hans's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Hans Pötsch
Chairman of the Executive Board & CFO4.42yrs€874.79kno data
Philip von Hagen
Investment Management & Member of the Executive Board8.08yrs€1.24mno data
Manfred Döss
Legal affairs and Compliance & Member of the Executive Board4.25yrs€1.74mno data
Albrecht Bamler
Head of Communications7.67yrsno datano data
Wolfgang Leimgruber
Head of Production10.67yrsno datano data
Kapila Perrera
Head of After Sales - India7.33yrsno datano data
George Wills
CEO, President & MD of Porsche Latin Americano datano datano data
Helmut Broeker
Executive Officerno datano datano data
Marc Ouayoun
Managing Director of Porsche France Sa8.58yrsno datano data

7.7yrs

Average Tenure

61yo

Average Age

Experienced Management: PAH3's management team is seasoned and experienced (7.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Siegfried Wolf
Member of Supervisory Board1yrno datano data
Ulrich Lehner
Member of the Supervisory Boardno datano datano data
Wolfgang Porsche
Chairman of the Supervisory Board12.42yrsno datano data
Hans Piëch
Deputy Chairman of the Supervisory board2.33yrsno datano data
Ferdinand Porsche
Member of the Supervisory Board15.25yrsno datano data
Stefan Piëch
Member of Supervisory Board1.75yrsno datano data
Marianne Heiß
Member of Supervisory board1.92yrsno datano data
Günther Horvath
Member of Supervisory Board2.08yrsno datano data
Josef Ahorner
Member of Supervisory Board1.75yrsno datano data
Peter Porsche
Member of Supervisory Board1.75yrsno datano data

1.9yrs

Average Tenure

60.5yo

Average Age

Experienced Board: PAH3's board of directors are not considered experienced ( 1.9 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Porsche Automobil Holding SE's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Porsche Automobil Holding SE
  • Ticker: PAH3
  • Exchange: XTRA
  • Founded:
  • Industry: Automobile Manufacturers
  • Sector: Automobiles
  • Market Cap: €11.258b
  • Shares outstanding: 306.25m
  • Website: https://www.porsche-se.com

Number of Employees


Location

  • Porsche Automobil Holding SE
  • Porscheplatz 1
  • Stuttgart
  • Baden-Württemberg
  • 70435
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PAH3DB (Deutsche Boerse AG)YesPreferred SharesDEEURJan 1992
0JHULSE (London Stock Exchange)YesPreferred SharesGBEURJan 1992
PAH3XTRA (XETRA Trading Platform)YesPreferred SharesDEEURJan 1992
POAH.FOTCPK (Pink Sheets LLC)YesPreferred SharesUSUSDJan 1992
PAH3DBATS-CHIXE (BATS 'Chi-X Europe')YesPreferred SharesGBEURJan 1992
PAH3SWX (SIX Swiss Exchange)YesPreferred SharesCHCHFJan 1992
PAH3ETLX (Eurotlx)YesPreferred SharesITEURJan 1992
POAH.YOTCPK (Pink Sheets LLC)UNSP ADR EACH REP 0.1 PRFUSUSDDec 2008
PAHABST (Boerse-Stuttgart)UNSP ADR EACH REP 0.1 PRFDEEURDec 2008

Biography

Porsche Automobil Holding SE, through its subsidiaries, operates as an automobile manufacturer worldwide. It operates through two segments, PSE and Intelligent Transport Systems. The company offers motorcycles, small cars, and luxury vehicles, as well as commercial vehicles, such as pick-ups, buses, and heavy trucks under the Volkswagen, Audi, SEAT, ŠKODA, Bentley, Bugatti, Lamborghini, Porsche, Ducati, Scania, and MAN brand names. It also develops software solutions for transport logistics, as well as traffic planning and management; and provides dealer and customer financing, leasing, banking, insurance, fleet management, and mobility services. The company was formerly known as Dr. Ing. h.c. F. Porsche Aktiengesellschaft and changed its name to Porsche Automobil Holding SE in November 2007. Porsche Automobil Holding SE is headquartered in Stuttgart, Germany. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/02 21:29
End of Day Share Price2020/04/02 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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 here.