German automotive manufacturer with brands including VW, Audi, and Porsche, with investments in electric vehicles and mobility platforms.MoreShow less
Profile & Fundamentals
Volkswagen (VOW.XETRA) Profile & Fundamentals
Review Volkswagen reported earnings, valuation, balance sheet and ownership, with source tables and separate AI assessments.
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Company and Market Context
Volkswagen: Company Profile & Ownership
Volkswagen AG manufactures automobiles and commercial vehicles in Europe, Germany, North America, South America, the Asia-Pacific, and internationally. It operates through three segments: Passenger Cars and Light Commercial Vehicles; Commercial Vehicles; and Financial Services. The Passenger Cars and Light Commercial Vehicles segment develops vehicles, engines and motors, vehicle software, and vehicle batteries; produces and sells passenger cars and light commercial vehicles, and the parts. This segment also offers compact cars, luxury vehicles, and motorcycles, as well as mobility solutions. The Commercial Vehicles segment engages in the development of vehicles, engines, and motors; production and sale of trucks and buses, parts, and related services. The Financial Services segment engages in the dealership and customer financing, leasing, direct banking, and insurance activities; and provision of fleet management, and mobility services. In addition, the company is involved in the large-bore diesel engines, turbomachinery, and propulsion components businesses. Further, develops physical AI data flywheel for autonomous vehicle development and connects fleet data to simulation, training, and evaluation. It sells its products under the Volkswagen Passenger Cars, "koda, SEAT/CUPRA, Volkswagen Commercial Vehicles, Audi, Lamborghini, Bentley, Ducati, Porsche, Scania, MAN, Volkswagen Truck & Bus, TRATON, and Bugatti Rimac, and international commercial vehicles brands to individual, corporate, and fleet customers. The company was founded in 1937 and is headquartered in Wolfsburg, Germany. Volkswagen AG operates as a subsidiary of Porsche Automobil Holding SE.
Company profile record
Volkswagen AG
Common Stock · Consumer Discretionary · Automobile Manufacturers
Company
- Company / asset
- Volkswagen AG
- Security type
- Common Stock
- Sector
- Consumer Discretionary
- Industry
- Automobile Manufacturers
- HQ
- 🇩🇪 Germany
- Head office
- Berliner Ring 2, Wolfsburg, Germany, 38440
Leadership & scale
- Chief executive
- Dr. Oliver Blume Ph.D.
- CEO year born
- 1968
- Full-time employees
- 592.4K
- Fiscal year end
- December
Fundamentals snapshot
- Market Cap
- EUR 34.0B
- P/E
- 18.3x
- Revenue (Q3 26)
- EUR 75.3B
- Profit (Q3 26)
- EUR -4.4B
- Dividend Yield
- 5.6%
- Revenue (FY 25)
- EUR 321.9B
- Shares in public float
- 284.8M
- Insider ownership
- 73.35%
Reporting & identifiers
- Symbol
- VOW.XETRA
- Listing
- 🇩🇪 Germany | Dividend Tax: 26.38%
- Ticker Currency
- EUR
- Income Statement Currency
- EUR
- Balance Sheet Currency
- EUR
- Cash Flow Currency
- EUR
- EPS Currency
- EUR
- Contract Type
- SPOT
- ISIN
- DE0007664005
- Asset ID
- equity_0dfa88b2-ae9e-57d7-b899-3c806c590a67
Volkswagen: Ownership
Shares Outstanding
Latest: 501.3M | Max: 501.3M | Min: 501.3M
Latest reported ownership snapshot
Float Shares
56.82%
284.8M latest reported shares
Insider Ownership
73.35%
Latest reported insider stake
Short Float
--
Latest reported short interest / float
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 501,300,000 |
| 2018-01-01 | 501,300,000 |
| 2019-01-01 | 501,300,000 |
| 2020-01-01 | 501,295,300 |
| 2021-01-01 | 501,295,300 |
| 2022-01-01 | 501,295,300 |
| 2023-01-01 | 501,295,300 |
| 2024-01-01 | 501,295,000 |
| 2025-01-01 | 501,295,000 |
| 2026-01-01 | 501,295,000 |
Top Holders
Available reported ownership records.
No reported records are available in this preview.
Volkswagen: Earnings, Profitability & Valuation
Latest Financials Filed On
Cash Flow: EUR→USD conversion reference as of . Historical periods use their own dated rates.
Income Statement: EUR→USD conversion reference as of . Historical periods use their own dated rates.
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Headline revenues stagnated near 322 billion euros in fiscal 2025, but reported operating income dropped sharply as fierce price wars in China and rising domestic expenses eroded margins. Earnings appeared to collapse further in late 2026 when management slashed operating margin guidance toward 1%. However, retail investors should understand that this dramatic headline drop was heavily driven by roughly ten billion euros in special write-downs, including non-cash accounting charges on luxury brand assets. Beneath the grim accounting headlines, the core automotive business continues to generate positive cash flow rather than burning operational reserves. While joint-venture earnings from China have suffered permanent impairment, steady demand for premium vehicles and commercial trucks prevents operational insolvency. True earnings stabilization will depend on executing factory overhead reductions to restore recurring operating profits.
Headline revenues stagnated near 322 billion euros in fiscal 2025, but reported operating income dropped sharply as fierce price wars in China and rising domestic expenses eroded margins. Earnings appeared to collapse further in late 2026 when management slashed operating margin guidance toward 1%. However, retail investors should understand that this dramatic headline drop was heavily driven by roughly ten billion euros in special write-downs, including non-cash accounting charges on luxury brand assets. Beneath the grim accounting headlines, the core automotive business continues to generate positive cash flow rather than burning operational reserves. While joint-venture earnings from China have suffered permanent impairment, steady demand for premium vehicles and commercial trucks prevents operational insolvency. True earnings stabilization will depend on executing factory overhead reductions to restore recurring operating profits.
Revenue, Net Income, and Free Cash Flow
Latest: EUR 321.9B | Max: EUR 324.7B | Min: EUR -19.5B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 7x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Operating profit margins have suffered severe erosion, collapsing from nearly 8% in 2023 to an expected trough near 1% under recent guidance revisions. This margin squeeze was caused by aggressive discounting in electric vehicles, elevated energy expenses across European factories, and high German union wage agreements. In particular, German manufacturing plants suffer an estimated cost penalty exceeding 3,600 euros per car compared to factories elsewhere in Europe. Rebuilding profitability requires closing this domestic manufacturing cost gap rather than relying on price increases. Because luxury marques like Porsche and Audi continue to deliver healthy returns, mass-market brand restructuring holds the key to consolidated recovery. Phasing out surplus capacity and standardizing vehicle electronics will gradually rebuild operating margins toward mid-single digits as restructuring milestones are met.
Operating profit margins have suffered severe erosion, collapsing from nearly 8% in 2023 to an expected trough near 1% under recent guidance revisions. This margin squeeze was caused by aggressive discounting in electric vehicles, elevated energy expenses across European factories, and high German union wage agreements. In particular, German manufacturing plants suffer an estimated cost penalty exceeding 3,600 euros per car compared to factories elsewhere in Europe. Rebuilding profitability requires closing this domestic manufacturing cost gap rather than relying on price increases. Because luxury marques like Porsche and Audi continue to deliver healthy returns, mass-market brand restructuring holds the key to consolidated recovery. Phasing out surplus capacity and standardizing vehicle electronics will gradually rebuild operating margins toward mid-single digits as restructuring milestones are met.
Profitability Margins
Latest: 15.9% | Max: 19.7% | Min: 2.3%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
15.9%
Gross profit / revenue
Operating Margin
2.8%
Operating income / revenue
Net Margin
2.3%
Net income / revenue
FCF Margin
-2.9%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 230,304,080,000 | 5,691,140,000 | -10,040,320,000 |
| 2017-12-31 | 273,164,500,000 | 13,629,070,000 | -23,201,430,000 |
| 2018-12-31 | 268,867,860,000 | 13,835,040,000 | -13,327,740,000 |
| 2019-12-31 | 282,948,960,000 | 15,552,320,000 | -1,588,160,000 |
| 2020-12-31 | 271,919,700,000 | 10,817,740,000 | 8,729,100,000 |
| 2021-12-31 | 285,226,860,000 | 17,535,480,000 | 22,953,900,000 |
| 2022-12-31 | 298,583,500,000 | 16,538,990,000 | 6,232,750,000 |
| 2023-12-31 | 354,512,400,000 | 18,185,200,000 | -7,082,900,000 |
| 2024-12-31 | 337,641,200,000 | 11,805,040,000 | -10,706,800,000 |
| 2025-12-31 | 376,638,210,000 | 8,567,910,000 | -10,924,290,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 7.2 | Trailing four quarters |
| 2024-12-31 | 4.1 | Trailing four quarters |
| 2023-12-31 | 3.6 | Trailing four quarters |
| 2022-12-31 | 4.8 | Annual net income |
| 2021-12-31 | 8.4 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 18.87 | 3.27 | 2.47 | -4.36 |
| 2017-12-31 | 18.97 | 6.02 | 4.99 | -8.49 |
| 2018-12-31 | 19.65 | 5.9 | 5.15 | -4.96 |
| 2019-12-31 | 19.45 | 6.71 | 5.5 | -0.56 |
| 2020-12-31 | 17.47 | 4.34 | 3.98 | 3.21 |
| 2021-12-31 | 18.88 | 6.51 | 6.15 | 8.05 |
| 2022-12-31 | 18.7 | 6.63 | 5.54 | 2.09 |
| 2023-12-31 | 18.92 | 7.97 | 5.13 | -2 |
| 2024-12-31 | 18.32 | 5.87 | 3.5 | -3.17 |
| 2025-12-31 | 15.92 | 2.75 | 2.27 | -2.9 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Snapshot retrieved 2026-11-03.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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