(PAH3) Porsche Automobil Holding SE - Overview
Sector: Consumer Cyclical | Industry: Auto Manufacturers | Exchange: XETRA (Germany) | Market Cap: 9.999m EUR | Total Return: -7.8% in 12m
Avg Turnover: 17.0M
Qual. Beats: 0
Qual. Beats: -1
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Porsche Automobil Holding SE (PAH3) is a German holding company that functions as the primary investment vehicle for the Porsche and Piëch families. It maintains a majority voting interest in the Volkswagen Group, one of the world’s largest automotive conglomerates, and holds a significant direct stake in Porsche AG.
The company operates through two distinct segments: Core Investments, which focuses on long-term strategic holdings in the automotive sector, and Portfolio Investments, which targets emerging mobility and industrial technologies. As a holding entity, PAH3 does not manufacture vehicles directly but derives its valuation primarily from the equity performance and dividends of its underlying brands, including Audi, Lamborghini, and Bentley.
The European automotive sector is currently undergoing a capital-intensive transition toward electrification and software-defined vehicle architectures. Investors may find it useful to examine ValueRay for deeper insights into the underlying asset valuations of this holding structure.
Headquartered in Stuttgart, the firm serves as a central pillar in the global automotive supply chain by consolidating ownership across luxury, premium, and volume vehicle segments.
- Dividend income remains heavily dependent on Volkswagen Group and Porsche AG profitability
- High debt levels from Porsche AG acquisition increase sensitivity to interest rate fluctuations
- Legal liabilities from diesel emissions litigation impact balance sheet and investor sentiment
- Global luxury vehicle demand shifts influence underlying asset valuation and cash flow
- Strategic portfolio diversification into industrial technology reduces reliance on traditional automotive cycles
| Net Income: 2.81b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -2.23 > 1.0 |
| NWC/Revenue: 63.12% < 20% (prev -5.52%; Δ 68.64% < -1%) |
| CFO/TA 0.02 > 3% & CFO 707.0m > Net Income 2.81b |
| Net Debt (5.34b) to EBITDA (2.85b): 1.88 < 3 |
| Current Ratio: 15.30 > 1.5 & < 3 |
| Outstanding Shares: last quarter (306.2m) vs 12m ago 0.0% < -2% |
| Gross Margin: 82.45% > 18% (prev 1.00%; Δ 8.15k% > 0.5%) |
| Asset Turnover: 6.72% > 50% (prev -52.25%; Δ 58.97% > 0%) |
| Interest Coverage Ratio: 9.31 > 6 (EBITDA TTM 2.85b / Interest Expense TTM 306.0m) |
| A: 0.04 (Total Current Assets 1.96b - Total Current Liabilities 128.0m) / Total Assets 44.2b |
| B: 0.70 (Retained Earnings 30.9b / Total Assets 44.2b) |
| C: 0.07 (EBIT TTM 2.85b / Avg Total Assets 43.2b) |
| D: 4.48 (Book Value of Equity 31.2b / Total Liabilities 6.97b) |
| Altman-Z'' = 7.70 = AAA |
As of May 31, 2026, the stock is trading at EUR 32.70 with a total of 1,185,436 shares traded.
Over the past week, the price has changed by +1.27%,
over one month by +6.27%,
over three months by -9.24% and
over the past year by -7.81%.
Porsche Automobil Holding SE has no consensus analysts rating.
P/E Trailing = 3.5605
P/E Forward = 3.6245
P/S = 3.3819
P/B = 0.2654
P/EG = 0.0523
Revenue TTM = 2.90b EUR
EBIT TTM = 2.85b EUR
EBITDA TTM = 2.85b EUR
Long Term Debt = 6.85b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 184.0m EUR (from shortTermDebt, last fiscal year)
Debt = 7.03b EUR (from shortLongTermDebtTotal, last fiscal year) + Leases 1.00m
Net Debt = 5.34b EUR (calculated: Debt 7.03b - CCE 1.69b)
Enterprise Value = 15.3b EUR (10.00b + Debt 7.03b - CCE 1.69b)
Interest Coverage Ratio = 9.31 (Ebit TTM 2.85b / Interest Expense TTM 306.0m)
EV/FCF = 29.50x (Enterprise Value 15.3b / FCF TTM 520.0m)
FCF Yield = 3.39% (FCF TTM 520.0m / Enterprise Value 15.3b)
FCF Margin = 17.92% (FCF TTM 520.0m / Revenue TTM 2.90b)
Net Margin = 96.83% (Net Income TTM 2.81b / Revenue TTM 2.90b)
Gross Margin = 82.45% ((Revenue TTM 2.90b - Cost of Revenue TTM 509.0m) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 0.35 (Enterprise Value 15.3b / Total Assets 44.2b)
Interest Expense / Debt = 4.35% (Interest Expense 306.0m / Debt 7.03b)
Taxrate = 25.0% (EU avg default 25%)
NOPAT = 2.14b (EBIT 2.85b * (1 - 25.00%))
Current Ratio = 15.30 (Total Current Assets 1.96b / Total Current Liabilities 128.0m)
Debt / Equity = 0.19 (Debt 7.03b / totalStockholderEquity, last quarter 37.3b)
Debt / EBITDA = 1.88 (Net Debt 5.34b / EBITDA 2.85b)
Debt / FCF = 10.28 (Net Debt 5.34b / FCF TTM 520.0m)
Total Stockholder Equity = 36.3b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.51% (Net Income 2.81b / Total Assets 44.2b)
RoE = 7.73% (Net Income TTM 2.81b / Total Stockholder Equity 36.3b)
RoCE = 6.59% (EBIT 2.85b / Capital Employed (Equity 36.3b + L.T.Debt 6.85b))
RoIC = 4.93% (NOPAT 2.14b / Invested Capital 43.3b)
WACC = 5.89% (E(10.00b)/V(17.0b) * Re(7.74%) + D(7.03b)/V(17.0b) * Rd(4.35%) * (1-Tc(0.25)))
Discount Rate = 7.74% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -34.78 | Cagr: 0.0%
[DCF] Terminal Value 73.10% ; FCFF base≈886.4m ; Y1≈777.3m ; Y5≈628.0m
[DCF] Fair Price = 30.94 (EV 10.1b - Net Debt 5.34b = Equity 4.74b / Shares 153.1m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.21 | # QB: 0
Revenue Correlation: N/A | Revenue CAGR: N/A | SUE: -1.07 | # QB: -1
EPS current Year (2026-12-31): EPS=13.61 | Chg30d=+14.25% | Revisions=-20% | GrowthEPS=+44.1% | GrowthRev=+0.0%
EPS next Year (2027-12-31): EPS=15.32 | Chg30d=-0.91% | Revisions=-20% | GrowthEPS=+12.5% | GrowthRev=+0.0%
[Analyst] Revisions Ratio: -20%