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BAYERISCHE MOTOREN WERKE AG (BMW.DE) Stock Fundamental Analysis

FRA:BMW - Deutsche Boerse Ag - DE0005190003 - Common Stock - Currency: EUR

76  -1.16 (-1.5%)

Fundamental Rating

4

Taking everything into account, BMW scores 4 out of 10 in our fundamental rating. BMW was compared to 29 industry peers in the Automobiles industry. BMW has a medium profitability rating, but doesn't score so well on its financial health evaluation. BMW has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

BMW had positive earnings in the past year.
BMW had a positive operating cash flow in the past year.
In the past 5 years BMW has always been profitable.
BMW had a positive operating cash flow in each of the past 5 years.
BMW.DE Yearly Net Income VS EBIT VS OCF VS FCFBMW.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5B 10B 15B 20B

1.2 Ratios

The Return On Assets of BMW (3.12%) is comparable to the rest of the industry.
BMW has a Return On Equity of 9.02%. This is in the lower half of the industry: BMW underperforms 62.96% of its industry peers.
With a Return On Invested Capital value of 6.14%, BMW perfoms like the industry average, outperforming 44.44% of the companies in the same industry.
BMW had an Average Return On Invested Capital over the past 3 years of 7.08%. This is in line with the industry average of 8.71%.
Industry RankSector Rank
ROA 3.12%
ROE 9.02%
ROIC 6.14%
ROA(3y)5.72%
ROA(5y)4.21%
ROE(3y)16.61%
ROE(5y)12.87%
ROIC(3y)7.08%
ROIC(5y)5.52%
BMW.DE Yearly ROA, ROE, ROICBMW.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15 20

1.3 Margins

BMW has a Profit Margin (5.49%) which is comparable to the rest of the industry.
BMW's Profit Margin has been stable in the last couple of years.
BMW has a better Operating Margin (9.43%) than 62.96% of its industry peers.
BMW's Operating Margin has improved in the last couple of years.
BMW has a worse Gross Margin (17.01%) than 85.19% of its industry peers.
BMW's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 9.43%
PM (TTM) 5.49%
GM 17.01%
OM growth 3Y34.07%
OM growth 5Y4.93%
PM growth 3Y23.94%
PM growth 5Y0.17%
GM growth 3Y11.64%
GM growth 5Y-0.11%
BMW.DE Yearly Profit, Operating, Gross MarginsBMW.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15 20

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3

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so BMW is still creating some value.
Compared to 1 year ago, BMW has less shares outstanding
BMW has less shares outstanding than it did 5 years ago.
BMW has about the same debt/assets ratio as last year.
BMW.DE Yearly Shares OutstandingBMW.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M
BMW.DE Yearly Total Debt VS Total AssetsBMW.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 50B 100B 150B 200B 250B

2.2 Solvency

Based on the Altman-Z score of 1.45, we must say that BMW is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of BMW (1.45) is comparable to the rest of the industry.
A Debt/Equity ratio of 0.67 indicates that BMW is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.67, BMW perfoms like the industry average, outperforming 59.26% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.67
Debt/FCF N/A
Altman-Z 1.45
ROIC/WACC1.37
WACC4.49%
BMW.DE Yearly LT Debt VS Equity VS FCFBMW.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20B 40B 60B 80B

2.3 Liquidity

BMW has a Current Ratio of 1.10. This is a normal value and indicates that BMW is financially healthy and should not expect problems in meeting its short term obligations.
BMW's Current ratio of 1.10 is on the low side compared to the rest of the industry. BMW is outperformed by 74.07% of its industry peers.
A Quick Ratio of 0.78 indicates that BMW may have some problems paying its short term obligations.
BMW has a worse Quick ratio (0.78) than 81.48% of its industry peers.
Industry RankSector Rank
Current Ratio 1.1
Quick Ratio 0.78
BMW.DE Yearly Current Assets VS Current LiabilitesBMW.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 20B 40B 60B 80B

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3

3. Growth

3.1 Past

BMW shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -25.10%.
BMW shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 10.53% yearly.
BMW shows a decrease in Revenue. In the last year, the revenue decreased by -2.05%.
The Revenue has been growing by 9.93% on average over the past years. This is quite good.
EPS 1Y (TTM)-25.1%
EPS 3Y45.56%
EPS 5Y10.53%
EPS Q2Q%-84.76%
Revenue 1Y (TTM)-2.05%
Revenue growth 3Y16.25%
Revenue growth 5Y9.93%
Sales Q2Q%-15.74%

3.2 Future

The Earnings Per Share is expected to decrease by -0.84% on average over the next years.
BMW is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.29% yearly.
EPS Next Y-27.88%
EPS Next 2Y-13.55%
EPS Next 3Y-7.83%
EPS Next 5Y-0.84%
Revenue Next Year-3.6%
Revenue Next 2Y-1.13%
Revenue Next 3Y-0.04%
Revenue Next 5Y1.29%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
BMW.DE Yearly Revenue VS EstimatesBMW.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 50B 100B 150B
BMW.DE Yearly EPS VS EstimatesBMW.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 5 10 15 20 25

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4

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 5.86, which indicates a rather cheap valuation of BMW.
The rest of the industry has a similar Price/Earnings ratio as BMW.
When comparing the Price/Earnings ratio of BMW to the average of the S&P500 Index (28.47), we can say BMW is valued rather cheaply.
The Price/Forward Earnings ratio is 5.76, which indicates a rather cheap valuation of BMW.
Compared to the rest of the industry, the Price/Forward Earnings ratio of BMW is on the same level as its industry peers.
When comparing the Price/Forward Earnings ratio of BMW to the average of the S&P500 Index (92.74), we can say BMW is valued rather cheaply.
Industry RankSector Rank
PE 5.86
Fwd PE 5.76
BMW.DE Price Earnings VS Forward Price EarningsBMW.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

BMW's Enterprise Value to EBITDA ratio is in line with the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 5.81
BMW.DE Per share dataBMW.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 50 100 150 200

4.3 Compensation for Growth

BMW's earnings are expected to decrease with -7.83% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)0.56
EPS Next 2Y-13.55%
EPS Next 3Y-7.83%

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6

5. Dividend

5.1 Amount

BMW has a Yearly Dividend Yield of 7.51%, which is a nice return.
Compared to an average industry Dividend Yield of 6.70, BMW pays a bit more dividend than its industry peers.
BMW's Dividend Yield is rather good when compared to the S&P500 average which is at 2.28.
Industry RankSector Rank
Dividend Yield 7.51%

5.2 History

The dividend of BMW is nicely growing with an annual growth rate of 22.01%!
Dividend Growth(5Y)22.01%
Div Incr Years2
Div Non Decr Years3
BMW.DE Yearly Dividends per shareBMW.DE Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2 4 6 8

5.3 Sustainability

84.53% of the earnings are spent on dividend by BMW. This is not a sustainable payout ratio.
BMW's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP84.53%
EPS Next 2Y-13.55%
EPS Next 3Y-7.83%
BMW.DE Yearly Income VS Free CF VS DividendBMW.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5B 10B 15B
BMW.DE Dividend Payout.BMW.DE Dividend Payout, showing the Payout Ratio.BMW.DE Dividend Payout.PayoutRetained Earnings

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BAYERISCHE MOTOREN WERKE AG

FRA:BMW (2/5/2025, 4:37:37 PM)

76

-1.16 (-1.5%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupAutomobiles & Components
GICS IndustryAutomobiles
Earnings (Last)11-06 2024-11-06/bmo
Earnings (Next)N/A N/A
Inst Owners21.73%
Inst Owner ChangeN/A
Ins Owners48.56%
Ins Owner ChangeN/A
Market Cap48.54B
Analysts72.26
Price Target88.36 (16.26%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 7.51%
Yearly Dividend10.81
Dividend Growth(5Y)22.01%
DP84.53%
Div Incr Years2
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-29.79%
Min EPS beat(2)-57.28%
Max EPS beat(2)-2.31%
EPS beat(4)1
Avg EPS beat(4)-17.57%
Min EPS beat(4)-57.28%
Max EPS beat(4)2.37%
EPS beat(8)2
Avg EPS beat(8)-9.92%
EPS beat(12)6
Avg EPS beat(12)-3.11%
EPS beat(16)9
Avg EPS beat(16)2.8%
Revenue beat(2)0
Avg Revenue beat(2)-6.16%
Min Revenue beat(2)-7.45%
Max Revenue beat(2)-4.87%
Revenue beat(4)1
Avg Revenue beat(4)-2.71%
Min Revenue beat(4)-7.45%
Max Revenue beat(4)3.18%
Revenue beat(8)4
Avg Revenue beat(8)-0.39%
Revenue beat(12)6
Avg Revenue beat(12)-0.08%
Revenue beat(16)9
Avg Revenue beat(16)0.59%
PT rev (1m)-0.21%
PT rev (3m)-2.75%
EPS NQ rev (1m)3.02%
EPS NQ rev (3m)-32.03%
EPS NY rev (1m)-5.95%
EPS NY rev (3m)-5.95%
Revenue NQ rev (1m)-1.1%
Revenue NQ rev (3m)-0.23%
Revenue NY rev (1m)-0.68%
Revenue NY rev (3m)-0.68%
Valuation
Industry RankSector Rank
PE 5.86
Fwd PE 5.76
P/S 0.33
P/FCF N/A
P/OCF 8.77
P/B 0.54
P/tB 0.68
EV/EBITDA 5.81
EPS(TTM)12.98
EY17.08%
EPS(NY)13.21
Fwd EY17.38%
FCF(TTM)-11.04
FCFYN/A
OCF(TTM)8.66
OCFY11.4%
SpS233.17
BVpS142.04
TBVpS111.18
PEG (NY)N/A
PEG (5Y)0.56
Profitability
Industry RankSector Rank
ROA 3.12%
ROE 9.02%
ROCE 8.17%
ROIC 6.14%
ROICexc 6.98%
ROICexgc 8.03%
OM 9.43%
PM (TTM) 5.49%
GM 17.01%
FCFM N/A
ROA(3y)5.72%
ROA(5y)4.21%
ROE(3y)16.61%
ROE(5y)12.87%
ROIC(3y)7.08%
ROIC(5y)5.52%
ROICexc(3y)8.18%
ROICexc(5y)6.36%
ROICexgc(3y)9.41%
ROICexgc(5y)7.25%
ROCE(3y)9.56%
ROCE(5y)7.46%
ROICexcg growth 3Y50.97%
ROICexcg growth 5Y12.6%
ROICexc growth 3Y48.71%
ROICexc growth 5Y11.39%
OM growth 3Y34.07%
OM growth 5Y4.93%
PM growth 3Y23.94%
PM growth 5Y0.17%
GM growth 3Y11.64%
GM growth 5Y-0.11%
F-Score2
Asset Turnover0.57
Health
Industry RankSector Rank
Debt/Equity 0.67
Debt/FCF N/A
Debt/EBITDA 2.65
Cap/Depr 144.06%
Cap/Sales 8.45%
Interest Coverage 250
Cash Conversion 24.3%
Profit Quality N/A
Current Ratio 1.1
Quick Ratio 0.78
Altman-Z 1.45
F-Score2
WACC4.49%
ROIC/WACC1.37
Cap/Depr(3y)109.6%
Cap/Depr(5y)108.74%
Cap/Sales(3y)6.43%
Cap/Sales(5y)6.43%
Profit Quality(3y)71.64%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-25.1%
EPS 3Y45.56%
EPS 5Y10.53%
EPS Q2Q%-84.76%
EPS Next Y-27.88%
EPS Next 2Y-13.55%
EPS Next 3Y-7.83%
EPS Next 5Y-0.84%
Revenue 1Y (TTM)-2.05%
Revenue growth 3Y16.25%
Revenue growth 5Y9.93%
Sales Q2Q%-15.74%
Revenue Next Year-3.6%
Revenue Next 2Y-1.13%
Revenue Next 3Y-0.04%
Revenue Next 5Y1.29%
EBIT growth 1Y-20.1%
EBIT growth 3Y55.85%
EBIT growth 5Y15.36%
EBIT Next Year24.63%
EBIT Next 3Y11.64%
EBIT Next 5Y4.85%
FCF growth 1Y-154.63%
FCF growth 3Y-1.79%
FCF growth 5YN/A
OCF growth 1Y-73.29%
OCF growth 3Y9.97%
OCF growth 5Y28.44%