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Bayerische Motoren Werke

DB:BMW
Snowflake Description

6 star dividend payer and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BMW
DB
€41B
Market Cap
  1. Home
  2. DE
  3. Automobiles
Company description

Bayerische Motoren Werke Aktiengesellschaft, together with its subsidiaries, develops, manufactures, and sells automobiles and motorcycles, and spare parts and accessories worldwide. The last earnings update was 50 days ago. More info.


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BMW Share Price and Events
7 Day Returns
0.9%
DB:BMW
-0.8%
DE Auto
-0.4%
DE Market
1 Year Returns
-17.7%
DB:BMW
-7.2%
DE Auto
-6.2%
DE Market
BMW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Bayerische Motoren Werke (BMW) 0.9% 1.5% -5.4% -17.7% -2.4% -31.2%
DE Auto -0.8% 0.1% -1.4% -7.2% 11.3% -23.6%
DE Market -0.4% 0.7% 1.8% -6.2% 13.9% 7.5%
1 Year Return vs Industry and Market
  • BMW underperformed the Auto industry which returned -7.2% over the past year.
  • BMW underperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
BMW
Industry
5yr Volatility vs Market
Related Companies

BMW Value

 Is Bayerische Motoren Werke undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Bayerische Motoren Werke to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Bayerische Motoren Werke.

DB:BMW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 26 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.8%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:BMW
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Auto Unlevered Beta Simply Wall St/ S&P Global 0.57
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.575 (1 + (1- 30%) (270.5%))
1.445
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.44
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.445 * 5.96%)
8.84%

Discounted Cash Flow Calculation for DB:BMW using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Bayerische Motoren Werke is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:BMW DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.84%)
2019 2,691.31 Analyst x12 2,472.77
2020 3,059.22 Analyst x12 2,582.56
2021 3,413.88 Analyst x8 2,647.94
2022 4,122.00 Analyst x2 2,937.57
2023 4,528.38 Est @ 9.86% 2,965.13
2024 4,843.98 Est @ 6.97% 2,914.23
2025 5,083.61 Est @ 4.95% 2,810.05
2026 5,263.13 Est @ 3.53% 2,673.04
2027 5,396.83 Est @ 2.54% 2,518.37
2028 5,496.49 Est @ 1.85% 2,356.61
Present value of next 10 years cash flows €26,878.26
DB:BMW DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €5,496.49 × (1 + 0.23%) ÷ (8.84% – 0.23%)
€63,985.30
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €63,985.30 ÷ (1 + 8.84%)10
€27,433.52
DB:BMW Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €26,878.26 + €27,433.52
€54,311.78
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €54,311.78 / 658.12
€82.53
DB:BMW Discount to Share Price
Calculation Result
Value per share (EUR) From above. €82.53
Current discount Discount to share price of €64.60
= -1 x (€64.60 - €82.53) / €82.53
21.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Bayerische Motoren Werke is available for.
Intrinsic value
22%
Share price is €64.6 vs Future cash flow value of €82.53
Current Discount Checks
For Bayerische Motoren Werke to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Bayerische Motoren Werke's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Bayerische Motoren Werke's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Bayerische Motoren Werke's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Bayerische Motoren Werke's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:BMW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €10.87
DB:BMW Share Price ** DB (2019-06-26) in EUR €64.6
Germany Auto Industry PE Ratio Median Figure of 6 Publicly-Listed Auto Companies 6.78x
Germany Market PE Ratio Median Figure of 425 Publicly-Listed Companies 19.49x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Bayerische Motoren Werke.

DB:BMW PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= DB:BMW Share Price ÷ EPS (both in EUR)

= 64.6 ÷ 10.87

5.94x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bayerische Motoren Werke is good value based on earnings compared to the DE Auto industry average.
  • Bayerische Motoren Werke is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Bayerische Motoren Werke's expected growth come at a high price?
Raw Data
DB:BMW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.94x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 26 Analysts
7%per year
Europe Auto Industry PEG Ratio Median Figure of 11 Publicly-Listed Auto Companies 1.1x
Germany Market PEG Ratio Median Figure of 271 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

DB:BMW PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.94x ÷ 7%

0.84x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bayerische Motoren Werke is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Bayerische Motoren Werke's assets?
Raw Data
DB:BMW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €87.46
DB:BMW Share Price * DB (2019-06-26) in EUR €64.6
Germany Auto Industry PB Ratio Median Figure of 8 Publicly-Listed Auto Companies 0.96x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.8x
DB:BMW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= DB:BMW Share Price ÷ Book Value per Share (both in EUR)

= 64.6 ÷ 87.46

0.74x

* Primary Listing of Bayerische Motoren Werke.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bayerische Motoren Werke is good value based on assets compared to the DE Auto industry average.
X
Value checks
We assess Bayerische Motoren Werke's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Auto industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Auto industry average (and greater than 0)? (1 check)
  5. Bayerische Motoren Werke has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

BMW Future Performance

 How is Bayerische Motoren Werke expected to perform in the next 1 to 3 years based on estimates from 26 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Bayerische Motoren Werke expected to grow at an attractive rate?
  • Bayerische Motoren Werke's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Bayerische Motoren Werke's earnings growth is positive but not above the Germany market average.
  • Bayerische Motoren Werke's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:BMW Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:BMW Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 26 Analysts 7%
DB:BMW Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 26 Analysts 1.7%
Germany Auto Industry Earnings Growth Rate Market Cap Weighted Average 7.2%
Europe Auto Industry Revenue Growth Rate Market Cap Weighted Average 3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:BMW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 26 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:BMW Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 102,909 10,885 6,355 2
2021-12-31 102,594 10,354 6,474 18
2020-12-31 100,873 10,217 6,522 26
2019-12-31 98,905 9,865 5,530 26
DB:BMW Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 97,277 5,735 5,405
2018-12-31 97,480 5,051 7,150
2018-09-30 97,389 5,794 8,028
2018-06-30 96,279 6,663 8,454
2018-03-31 97,021 6,070 8,587
2018-01-01 98,282 5,909 8,589
2017-09-30 98,258 6,036 7,763
2017-06-30 97,987 3,879 7,752
2017-03-31 97,236 3,587 7,496
2016-12-31 94,163 3,173 6,863
2016-09-30 94,207 1,443 6,920
2016-06-30 93,190 1,387 6,686

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Bayerische Motoren Werke's earnings are expected to grow by 7% yearly, however this is not considered high growth (20% yearly).
  • Bayerische Motoren Werke's revenue is expected to grow by 1.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:BMW Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 26 Analyst Estimates (S&P Global) See Below

All data from Bayerische Motoren Werke Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BMW Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 9.66 10.62 8.70 2.00
2021-12-31 10.06 12.10 7.91 17.00
2020-12-31 9.89 11.13 8.65 27.00
2019-12-31 8.47 9.54 7.41 23.00
DB:BMW Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31
2018-12-31 10.87
2018-09-30 12.21
2018-06-30 12.86
2018-03-31 13.07
2018-01-01 13.07
2017-09-30 11.82
2017-06-30 11.80
2017-03-31 11.41
2016-12-31 10.45
2016-09-30 10.54
2016-06-30 10.18

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Bayerische Motoren Werke is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Bayerische Motoren Werke's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Bayerische Motoren Werke has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

BMW Past Performance

  How has Bayerische Motoren Werke performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Bayerische Motoren Werke's growth in the last year to its industry (Auto).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Bayerische Motoren Werke's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Bayerische Motoren Werke's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Bayerische Motoren Werke's 1-year earnings growth is negative, it can't be compared to the DE Auto industry average.
Earnings and Revenue History
Bayerische Motoren Werke's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Bayerische Motoren Werke Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BMW Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 97,277.00 5,405.00 8,225.00
2018-12-31 97,480.00 7,150.00 8,268.00
2018-09-30 97,389.00 8,028.00 8,347.00
2018-06-30 96,279.00 8,454.00 8,268.00
2018-03-31 97,021.00 8,587.00 8,264.00
2018-01-01 98,282.00 8,589.00 8,271.00
2017-09-30 98,258.00 7,763.00 8,149.00
2017-06-30 97,987.00 7,752.00 8,144.00
2017-03-31 97,236.00 7,496.00 8,115.00
2016-12-31 94,163.00 6,863.00 7,942.00
2016-09-30 94,207.00 6,920.00 7,827.00
2016-06-30 93,190.00 6,686.00 7,756.00
2016-03-31 92,111.00 6,488.00 7,660.00
2015-12-31 92,175.00 6,369.00 7,592.00
2015-09-30 89,858.00 6,107.00 7,433.00
2015-06-30 87,113.00 5,838.00 7,283.00
2015-03-31 83,083.00 5,856.00 7,038.00
2014-12-31 80,401.00 5,798.00 6,945.00
2014-09-30 77,950.00 5,807.00 6,677.00
2014-06-30 77,101.00 5,825.00 6,603.00
2014-03-31 76,748.00 5,450.00 6,603.00
2013-12-31 76,059.00 5,303.00 6,431.00
2013-09-30 76,385.00 5,200.00 6,299.00
2013-06-30 76,451.00 5,159.00 6,231.00
2013-03-31 76,101.00 5,047.00 6,091.00
2012-12-31 76,848.00 5,085.00 6,142.00
2012-09-30 74,661.00 4,771.00 6,064.00
2012-06-30 72,391.00 4,596.00 5,907.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Bayerische Motoren Werke has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Bayerische Motoren Werke used its assets less efficiently than the DE Auto industry average last year based on Return on Assets.
  • Bayerische Motoren Werke's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Bayerische Motoren Werke's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Auto industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Bayerische Motoren Werke has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

BMW Health

 How is Bayerische Motoren Werke's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Bayerische Motoren Werke's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Bayerische Motoren Werke is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Bayerische Motoren Werke's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Bayerische Motoren Werke's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Bayerische Motoren Werke Company Filings, last reported 2 months ago.

DB:BMW Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 58,171.00 111,239.00 16,328.00
2018-12-31 58,088.00 101,817.00 15,669.00
2018-09-30 56,876.00 98,084.00 14,067.00
2018-06-30 55,769.00 97,633.00 13,770.00
2018-03-31 56,494.00 93,835.00 14,468.00
2018-01-01 54,208.00 93,448.00 15,132.00
2017-09-30 52,785.00 92,818.00 13,216.00
2017-06-30 50,470.00 95,051.00 12,744.00
2017-03-31 49,581.00 97,412.00 11,617.00
2016-12-31 47,363.00 94,274.00 11,899.00
2016-09-30 45,428.00 93,498.00 4,549.00
2016-06-30 43,887.00 94,103.00 12,933.00
2016-03-31 44,748.00 89,216.00 11,342.00
2015-12-31 42,764.00 87,012.00 11,398.00
2015-09-30 41,017.00 87,141.00 4,397.00
2015-06-30 38,548.00 88,872.00 11,231.00
2015-03-31 36,127.00 89,784.00 11,411.00
2014-12-31 37,437.00 77,432.00 11,289.00
2014-09-30 36,921.00 76,711.00 11,197.00
2014-06-30 36,354.00 73,367.00 11,594.00
2014-03-31 36,957.00 69,875.00 12,044.00
2013-12-31 35,600.00 69,153.00 12,351.00
2013-09-30 33,902.00 69,178.00 11,791.00
2013-06-30 32,331.00 70,082.00 11,392.00
2013-03-31 31,811.00 70,441.00 11,299.00
2012-12-31 30,606.00 67,665.00 12,185.00
2012-09-30 28,853.00 70,372.00 11,356.00
2012-06-30 27,515.00 69,443.00 10,936.00
  • Bayerische Motoren Werke's level of debt (191.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (189.2% vs 191.2% today).
  • Debt is not well covered by operating cash flow (5.2%, less than 20% of total debt).
  • Bayerische Motoren Werke earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Bayerische Motoren Werke's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Bayerische Motoren Werke has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

BMW Dividends

 What is Bayerische Motoren Werke's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.42%
Current annual income from Bayerische Motoren Werke dividends. Estimated to be 5.25% next year.
If you bought €2,000 of Bayerische Motoren Werke shares you are expected to receive €108 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Bayerische Motoren Werke's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Bayerische Motoren Werke's dividend is above the markets top 25% of dividend payers in Germany (3.88%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:BMW Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 26 Analyst Estimates (S&P Global) See Below
Europe Auto Industry Average Dividend Yield Market Cap Weighted Average of 12 Stocks 4.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 328 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:BMW Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 3.35 2.00
2021-12-31 3.56 18.00
2020-12-31 3.44 25.00
2019-12-31 3.21 22.00
DB:BMW Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-20 3.500 5.109
2018-03-21 4.000 5.060
2018-03-08 4.000 4.683
2017-03-22 3.500 4.107
2017-03-21 3.500 4.222
2016-03-16 3.200 4.051
2016-01-15 3.200 4.217
2015-03-12 2.900 3.042
2014-03-19 2.600 2.849
2014-01-15 2.600 3.133
2013-03-14 2.520 3.365
2013-01-15 2.520 3.492
2012-08-01 2.300 3.642
2012-03-08 2.300 3.662
2011-03-10 1.300 2.195
2010-03-01 0.300 0.668
2009-05-05 0.300 0.985

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Bayerische Motoren Werke's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.9x coverage).
X
Income/ dividend checks
We assess Bayerische Motoren Werke's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Bayerische Motoren Werke afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Bayerische Motoren Werke has a total score of 6/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

BMW Management

 What is the CEO of Bayerische Motoren Werke's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Harald Krüger
COMPENSATION €5,880,941
AGE 53
TENURE AS CEO 4.1 years
CEO Bio

Mr. Harald Krüger has been the Chairman of the Board of Management and Chief Executive Officer at Bayerische Motoren Werke Aktiengesellschaft (alternate name: BMW AG) since May 13, 2015 and has been its Member of Board of Management since December 1, 2008 and served as its Head of Production until May 13, 2015. He serves as Member of the Supervisory Board of Deutsche Telekom AG since May 17, 2018. He has a wealth of experience in both production and human resources divisions of BMW AG. Mr. Krüger served as Human Resources Director of BMW AG from December 1, 2008 to June 30, 2012. He served as an Industrial Relations Director from September 2008 to June 30, 2012 and Member of the Management Board for Human Resources from 2008 to 2012. He served at Ernst Baumann. Mr. Krüger joined BMW in April 1992 and served as Director of its Production Strategy, Control and Planning Division. He managed BMW Group's engine plant at Hams Hall in the UK and served a number of positions within the Human Resources division. From 2013 to 2015, he was Member of the Management Board for Production at BMW AG. From 2007 to 2008, he was Director for Technical Integration, BMW AG. From 2003 to 2006, he was Director for Engine Production at Hams Hall, BMW Group UK. From 2000 to 2003, he was Head of Production Strategy and Communication at BMW AG. From 1997 to 2000, he was Head of Strategic Production Planning department at BMW AG. From 1995 to 1997, he was Personnel officer for test vehicle construction at the Research and Innovation Centre (FIZ) at BMW AG. From 1993 to 1995, he was Project engineer for plant assembly at Spartanburg, USA. From 1992 to 1993, he completed Traineeship in the Technical Planning/Production division at BMW AG. From 1991 to 1992, he was Research assistant at the Institute of Flight System Dynamics at the German Aerospace Centre (DLR) in Oberpfaffenhofen. From 2012 to 2013, he was a Member of the Management Board for MINI, Motorrad, Rolls-Royce, Aftersales BMW Group, BMW AG, Munich. He served as the Chairman of Rolls-Royce Motor Cars Ltd. from May 1, 2012 to March 31, 2013. Mr. Krüger serves as a Director of BMW Manufacturing Co. LLC. He holds Engineering degree (Dipl.-Ing.) in mechanical engineering from RWTH Aachen University. He completed studies in mechanical engineering at Technische Universität Braunschweig (Brunswick) and RWTH Aachen University.

CEO Compensation
  • Harald's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Harald's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Bayerische Motoren Werke management team in years:

4.1
Average Tenure
56
Average Age
  • The tenure for the Bayerische Motoren Werke management team is about average.
Management Team

Harald Krüger

TITLE
Chairman of Management Board & CEO
COMPENSATION
€6M
AGE
53
TENURE
4.1 yrs

Nicolas Peter

TITLE
CFO & Member of Management Board
COMPENSATION
€3M
AGE
56
TENURE
2.4 yrs

Milagros Carreiro-Andree

TITLE
Human Resources & Industrial Relations Director and Member of Board of Management
COMPENSATION
€3M
AGE
56
TENURE
6.9 yrs

Oliver Zipse

TITLE
Head of Production & Member of Management Board
COMPENSATION
€3M
AGE
54
TENURE
4.1 yrs

Peter Schwarzenbauer

TITLE
Member of Board of Management
COMPENSATION
€3M
AGE
59
TENURE
6.2 yrs

Klaus Fröhlich

TITLE
Chief of Engineering and Member of the Board of Management
COMPENSATION
€3M
AGE
58
TENURE
4.5 yrs

Andreas Wendt

TITLE
Head of Purchasing & Supplier Network and Member of Management Board
COMPENSATION
€1M
AGE
60
TENURE
0.7 yrs

Pieter A. Nota

TITLE
Member of Management Board
COMPENSATION
€3M
AGE
54
TENURE
1.4 yrs

Alexander Bilgeri

TITLE
Vice President of Product
TENURE
2.8 yrs

Jurgen Reul

TITLE
General Counsel
Board of Directors Tenure

Average tenure and age of the Bayerische Motoren Werke board of directors in years:

11.4
Average Tenure
59
Average Age
  • The average tenure for the Bayerische Motoren Werke board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Norbert Reithofer

TITLE
Chairman of Supervisory Board
COMPENSATION
€640K
AGE
62
TENURE
4.1 yrs

Stefan Quandt

TITLE
Deputy Chairman of Supervisory Board
COMPENSATION
€430K
AGE
52
TENURE
20.4 yrs

Manfred Schoch

TITLE
Deputy Chairman of Supervisory Board
COMPENSATION
€430K
AGE
63

Stefan Schmid

TITLE
Deputy Chairman of Supervisory Board
COMPENSATION
€428K
AGE
53
TENURE
11.4 yrs

Karl-Ludwig Kley

TITLE
Deputy Chairman of Supervisory Board
COMPENSATION
€430K
AGE
67
TENURE
9.1 yrs

Thomas Wittig

TITLE
Head of Group Financial Services & Employee Representative Member of Supervisory Board
AGE
58
TENURE
0.4 yrs

Markus Flasch

TITLE
Chairman of the Board of Management of BMW M GmbH & Head of Development of BMW 8 series models
TENURE
0.7 yrs

Susanne Klatten

TITLE
Member of Supervisory Board
COMPENSATION
€218K
AGE
56
TENURE
22.4 yrs

Willibald Löw

TITLE
Employee Representative Member of Supervisory Board
COMPENSATION
€220K
AGE
62
TENURE
20.4 yrs

Werner Zierer

TITLE
Employee Representative Member of Supervisory Board
COMPENSATION
€220K
AGE
59
TENURE
18.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Bayerische Motoren Werke's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Bayerische Motoren Werke has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

BMW News

Simply Wall St News

Why Bayerische Motoren Werke Aktiengesellschaft (FRA:BMW) Could Be Worth Watching

Bayerische Motoren Werke Aktiengesellschaft (FRA:BMW) saw significant share price movement during recent months on the DB, rising to highs of €77.86 and falling to the lows of €61.35. … Let’s take a look at Bayerische Motoren Werke’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … What’s more interesting is that, Bayerische Motoren Werke’s share price is quite volatile, which gives us more chances to buy since the share price could sink lower (or rise higher) in the future.

Simply Wall St -

Do You Know What Bayerische Motoren Werke Aktiengesellschaft's (FRA:BMW) P/E Ratio Means?

Check out our latest analysis for Bayerische Motoren Werke How Do I Calculate Bayerische Motoren Werke's Price To Earnings Ratio? … The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Bayerische Motoren Werke: P/E of 5.64 = €61.35 ÷ €10.87 (Based on the trailing twelve months to March 2019.) Is A High Price-to-Earnings Ratio Good? … DB:BMW Price Estimation Relative to Market, June 4th 2019 Its relatively low P/E ratio indicates that Bayerische Motoren Werke shareholders think it will struggle to do as well as other companies in its industry classification.

Simply Wall St -

Why Income Investors Should Have Bayerische Motoren Werke Aktiengesellschaft (FRA:BMW) In Their Portfolio

If you are an income investor, then Bayerische Motoren Werke Aktiengesellschaft (FRA:BMW) should be on your radar. … Bayerische Motoren Werke Aktiengesellschaft, together with its subsidiaries, develops, manufactures, and sells automobiles and motorcycles, and spare parts and accessories worldwide. … Currently yielding 4.6%, let's take a closer look at Bayerische Motoren Werke's dividend profile.

Simply Wall St -

What Do Analysts Think About The Future Of Bayerische Motoren Werke Aktiengesellschaft's (FRA:BMW)?

Bayerische Motoren Werke Aktiengesellschaft's (FRA:BMW) latest earnings update in December 2018a

Simply Wall St -

Investors Who Bought Bayerische Motoren Werke (FRA:BMW) Shares Five Years Ago Are Now Down 19%

While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … While the share price declined over five years, Bayerische Motoren Werke actually managed to increase EPS by an average of 6.1% per year.

Simply Wall St -

Is Bayerische Motoren Werke Aktiengesellschaft (FRA:BMW) A Smart Pick For Income Investors?

The company currently pays out a dividend yield of 4.8% to shareholders, making it a relatively attractive dividend stock. … Does Bayerische Motoren Werke tick all the boxes of a great dividend stock? … Check out our latest analysis for Bayerische Motoren Werke

Simply Wall St -

What Did Bayerische Motoren Werke Aktiengesellschaft's (FRA:BMW) CEO Take Home Last Year?

Harald Krüger became the CEO of Bayerische Motoren Werke Aktiengesellschaft (FRA:BMW) in 2015. … See our latest analysis for Bayerische Motoren Werke? … Our data indicates that Bayerische Motoren Werke Aktiengesellschaft is worth €45b, and total annual CEO compensation is €8.9m.

Simply Wall St -

What Kind Of Shareholder Appears On The Bayerische Motoren Werke Aktiengesellschaft's (FRA:BMW) Shareholder Register?

A look at the shareholders of Bayerische Motoren Werke Aktiengesellschaft (FRA:BMW) can tell us which group is most powerful. … Bayerische Motoren Werke is a pretty big company. … View our latest analysis for Bayerische Motoren Werke

Simply Wall St -

Can Bayerische Motoren Werke Aktiengesellschaft (FRA:BMW) Maintain Its Strong Returns?

To keep the lesson grounded in practicality, we'll use ROE to better understand Bayerische Motoren Werke Aktiengesellschaft (FRA:BMW). … Over the last twelve months Bayerische Motoren Werke has recorded a ROE of 14%. … View our latest analysis for Bayerische Motoren Werke?

Simply Wall St -

Should You Care About Bayerische Motoren Werke Aktiengesellschaft’s (FRA:BMW) Investment Potential?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.

Simply Wall St -

BMW Company Info

Description

Bayerische Motoren Werke Aktiengesellschaft, together with its subsidiaries, develops, manufactures, and sells automobiles and motorcycles, and spare parts and accessories worldwide. The company operates through Automotive, Motorcycles, and Financial Services segments. The Automotive segment develops, manufactures, assembles, and sells automobiles and off-road vehicles under the BMW, MINI, and Rolls-Royce brands; and spare parts and accessories, as well as offers mobility services. This segment sells its products through independent and authorized dealerships. The Motorcycles segment develops, manufactures, assembles, and sells motorcycles under the BMW Motorrad brand; and spare parts and accessories. The Financial Services segment is involved in automobile leasing, fleet and multi-brand business, retail and dealership financing, customer deposit business, and insurance activities. The company has a strategic collaboration with Jaguar Land Rover Automotive plc to develop electric drive systems. Bayerische Motoren Werke Aktiengesellschaft was founded in 1916 and is based in Munich, Germany.

Details
Name: Bayerische Motoren Werke Aktiengesellschaft
BMW
Exchange: DB
Founded: 1916
€41,123,479,772
658,122,100
Website: http://www.bmwgroup.com
Address: Bayerische Motoren Werke Aktiengesellschaft
Petuelring 130,
Munich,
Bavaria, 80788,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
DB BMW Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
OTCPK BAMX.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
XTRA BMW Ordinary Shares XETRA Trading Platform DE EUR 02. Jan 1992
LSE 0O0U Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
SWX BMW Ordinary Shares SIX Swiss Exchange CH CHF 02. Jan 1992
BIT BMW Ordinary Shares Borsa Italiana IT EUR 02. Jan 1992
WBAG BMW Ordinary Shares Wiener Boerse AG AT EUR 02. Jan 1992
BUSE BMW Ordinary Shares Budapest Stock Exchange HU HUF 02. Jan 1992
BMV BMWM5 N Ordinary Shares Bolsa Mexicana de Valores MX MXN 02. Jan 1992
BATS-CHIXE BMWD Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
OTCPK BMWY.Y ADR EACH REPR 0.33333 SHS SPONSORED Pink Sheets LLC US USD 13. Oct 2008
XTRA BMW3 Preferred Stock XETRA Trading Platform DE EUR 02. Jan 1992
OTCPK BYMO.F Preferred Stock Pink Sheets LLC US USD 02. Jan 1992
DB BMW3 Preferred Stock Deutsche Boerse AG DE EUR 02. Jan 1992
DB BMWB ADR EACH REPR 0.33333 SHS SPONSORED Deutsche Boerse AG DE EUR 13. Oct 2008
LSE 0O0V Preferred Stock London Stock Exchange GB EUR 02. Jan 1992
SWX BMW3 Preferred Stock SIX Swiss Exchange CH CHF 02. Jan 1992
BATS-CHIXE BMW3D Preferred Stock BATS 'Chi-X Europe' GB EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
134,682
Bayerische Motoren Werke employees.
Industry
Automobile Manufacturers
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/26 20:42
End of day share price update: 2019/06/26 00:00
Last estimates confirmation: 2019/06/26
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.