Volkswagen AG Vorz-Inhaber-Akt ohne Stimmrecht

VOW3: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€417.00	Xxwtf	Xgylj

Volkswagen’s History of Poor Execution Overshadows the Value of Underlying Businesses

Sep 18, 2024

Business Strategy and Outlook

VW has a long history of high capital spending, stubbornly growing fixed-cost base, and net cash outflows. Management touts the firm's advantages of global scale and strong brands. However, its financial metrics compare unfavorably with peers. Investors seem fatigued. VW’s 75.4% share in Porsche accounts for about 100% of the entire group’s market capitalization alone. Its net asset value per share is more than 6 times its current share price.

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