Bayerische Motoren Werke Aktiengesellschaft (DE:BMW)
XETRA:BMW
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Bayerische Motoren Werke Aktiengesellschaft
(XETRA:BMW)
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Rating:55Neutral
Price Target:
€73.00
▼(-13.32% Downside)
Action:Reiterated
Date:06/05/26
The score is held back primarily by deteriorating cash flow (negative free cash flow and weak cash conversion) and a clearly negative technical setup (below key moving averages with negative MACD). These are partly offset by still-positive profitability and manageable leverage, plus an attractive valuation (low P/E and high dividend yield).
Positive Factors
Premium brand portfolio
BMW's globally recognized premium brands and multi-product lineup create durable pricing power and customer loyalty. This supports margin resilience across cycles, enables higher optional-content attach, and complements Financial Services for recurring revenue and deeper customer relationships over the medium term.
Negative Factors
Negative free cash flow
Sustained negative free cash flow (~-€4.2B TTM) and very low operating cash conversion (coverage ~0.10) signal earnings are not translating into cash after investments. That increases funding and execution risk, may constrain dividends/capex, and could force additional financing over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Premium brand portfolio
BMW's globally recognized premium brands and multi-product lineup create durable pricing power and customer loyalty. This supports margin resilience across cycles, enables higher optional-content attach, and complements Financial Services for recurring revenue and deeper customer relationships over the medium term.
Read all positive factors
Bayerische Motoren Werke Aktiengesellschaft (BMW) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€39.78B
Dividend Yield4.64%
Average Volume (3M)901.36K
Price to Earnings (P/E)6.1
Beta (1Y)1.28
Revenue Growth-6.32%
EPS Growth6.34%
CountryDE
Employees159,104
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)11.18
Shares Outstanding561,134,950
10 Day Avg. Volume1,046,733
30 Day Avg. Volume901,360
Financial Highlights & Ratios
PEG Ratio3.50
Price to Book (P/B)0.60
Price to Sales (P/S)0.43
P/FCF Ratio-19.18
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€91.65Price Target Upside8.82% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)10.48
Revenue Forecast (FY)€133.80B
Bayerische Motoren Werke Aktiengesellschaft Business Overview & Revenue Model
Company Description
Bayerische Motoren Werke AG (BMW AG), a German enterprise established in Munich in 1916, is a global powerhouse specializing in the design, production, and distribution of automobiles and motorcycles, alongside their corresponding spare parts and ...
How the Company Makes Money
BMW generates revenue mainly from (1) Automotive: selling new vehicles (including internal combustion, plug-in hybrid, and battery-electric models) under BMW, MINI, and Rolls-Royce to customers via a global dealer and sales network; revenue is als...
Bayerische Motoren Werke Aktiengesellschaft Earnings Call Summary
Earnings Call Date:Mar 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Neutral
The call conveyed a balanced view: notable operational strengths (Neue Klasse rollout, global/technology-neutral strategy, manufacturing ramps, disciplined cost measures, and clear guidance) are countered by meaningful near-term headwinds (tariffs, China competition, lower R&D capitalization, higher depreciation, FX pressure and residual-value normalization). Management presented concrete mitigating actions and maintained shareholder-return frameworks, but several risks remain materially unresolved if macro or trade outcomes deteriorate.Positive Updates
Neue Klasse product offensive and iX3 rollout
Successful rollout of the Neue Klasse iX3 has kicked off a major product offensive; Neue Klasse technology clusters to appear in more than 40 cars through end-2027, supporting competitiveness and positive early customer feedback (iX3 reception in Europe and China noted).
Negative Updates
Tariff headwinds and assumptions baked into 2026
Tariffs caused material margin hits in 2025 (company referenced ~1.5 percentage points EBIT impact in 2025). BMW assumes an improved tariff outcome (assumes tariffs nil from H2) and therefore guides to ~1.25 percentage points EBIT burden for 2026; risk remains if no easing occurs.
Read all updates
Q4-2025 Updates
Positive
Negative
Neue Klasse product offensive and iX3 rollout
Successful rollout of the Neue Klasse iX3 has kicked off a major product offensive; Neue Klasse technology clusters to appear in more than 40 cars through end-2027, supporting competitiveness and positive early customer feedback (iX3 reception in Europe and China noted).
Read all positive updates
Company Guidance
BMW’s 2026 guidance centers on an Automotive EBIT margin of 4–6% (down from last year’s 5–7%), with a tariff assumption that results in a ~1.25 percentage‑point EBIT headwind for the year (vs ~1.5pp in 2025) and an expectation that tariffs will be reduced to nil from H2; R&D capitalization is assumed to fall to ~30% (from 41% in 2025), CapEx, R&D spending and SG&A are being cut, and depreciation will rise as Neue Klasse production ramps (activations end ~6 months after SOP); at group level management expects a “moderate decline” in profit of roughly 10–15% y/y from a >€10bn 2025 profit base; cash assumptions include only mid‑3‑digit million tariff receivables (not large one‑off refunds) and the existing capital return framework (30–40% payout, proposed dividend payout 36.6%, ongoing share‑buyback tranches) remains in place.Bayerische Motoren Werke Aktiengesellschaft Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
60
Neutral
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 130.70B | 133.45B | 142.38B | 155.50B | 142.61B | 111.24B |
| Gross Profit | 19.66B | 27.44B | 30.54B | 37.23B | 31.19B | 28.29B |
| EBITDA | 18.91B | 19.20B | 19.85B | 26.25B | 32.29B | 22.77B |
| Net Income | 6.82B | 7.29B | 7.29B | 11.29B | 17.94B | 12.38B |
Balance Sheet | ||||||
| Total Assets | 270.62B | 278.35B | 267.73B | 250.89B | 246.93B | 229.53B |
| Cash, Cash Equivalents and Short-Term Investments | 19.01B | 21.31B | 21.85B | 17.33B | 22.03B | 21.81B |
| Total Debt | 112.18B | 106.30B | 85.50B | 71.55B | 71.56B | 83.73B |
| Total Liabilities | 171.07B | 180.45B | 172.73B | 157.97B | 155.64B | 154.40B |
| Stockholders Equity | 97.27B | 95.70B | 92.31B | 89.60B | 87.13B | 74.37B |
Cash Flow | ||||||
| Free Cash Flow | -4.23B | -2.98B | -4.64B | 6.47B | 14.47B | 9.28B |
| Operating Cash Flow | 5.61B | 7.98B | 7.57B | 17.36B | 23.52B | 15.90B |
| Investing Cash Flow | -9.38B | -9.95B | -11.37B | -9.55B | -4.77B | -6.39B |
| Financing Cash Flow | 3.13B | 1.62B | 5.77B | -6.67B | -17.98B | -6.74B |
Bayerische Motoren Werke Aktiengesellschaft Technical Analysis
Negative
84.22
Price Trends
74.63
Negative
77.25
Negative
79.84
Negative
Market Momentum
-2.14
Positive
34.57
Neutral
22.93
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:BMW, the sentiment is Negative. The current price of 84.22 is above the 20-day moving average (MA) of 72.10, above the 50-day MA of 74.63, and above the 200-day MA of 79.84, indicating a bearish trend. The MACD of -2.14 indicates Positive momentum. The RSI at 34.57 is Neutral, neither overbought nor oversold. The STOCH value of 22.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:BMW.
Bayerische Motoren Werke Aktiengesellschaft Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | €9.44B | 3.41 | 7.73% | 4.81% | -13.16% | ― | |
67 Neutral | €46.23B | 9.64 | 5.28% | 7.25% | -8.64% | -43.01% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | €39.78B | 6.07 | 7.21% | 4.64% | -6.32% | 6.34% | |
52 Neutral | €44.55B | 6.85 | 3.77% | 6.13% | -2.06% | -33.95% |
* Consumer Cyclical Sector Average
DE:BMW
Bayerische Motoren Werke Aktiengesellschaft
68.34
-1.09
-1.58%
DE:MBG
Mercedes-Benz Group
49.38
3.10
6.70%
DE:PAH3
Porsche Automobil Holding
31.29
-1.94
-5.84%
DE:VOW3
Volkswagen
90.42
1.96
2.22%
Bayerische Motoren Werke Aktiengesellschaft Corporate Events
Business Operations and StrategyStock Buyback
BMW Advances 2025–2027 Buy-Back With Fresh Repurchases
Positive
Jun 1, 2026
BMW AG continued execution of its 2025/2027 share buy-back programme, repurchasing 177,713 ordinary shares between 25 and 31 May 2026 on the Xetra trading venue. The weighted average prices, which ranged roughly in the mid-70 euro area per share, ...
Regulatory Filings and Compliance
BMW Board Member Nedeljković Buys Shares in Option-Linked Transaction
Positive
Jun 1, 2026
BMW has disclosed a managers’ transaction under EU Market Abuse Regulation, reporting that management board member Dr. Milan Nedeljković purchased BMW shares. The transaction, executed outside a trading venue and linked to the exercise ...
Regulatory Filings and Compliance
BMW Board Member Ilka Horstmeier Reports €397,000 Share Purchase
Positive
Jun 1, 2026
BMW disclosed a managers’ transaction under EU Market Abuse Regulation, reporting that management board member Ilka Horstmeier purchased BMW shares. The transaction, carried out on May 29, 2026 outside a trading venue and linked to the exerc...
Regulatory Filings and Compliance
BMW Board Member Walter Mertl Buys Shares Worth €317,000 Under Option Plan
Positive
Jun 1, 2026
BMW has disclosed a managers’ transaction under EU Market Abuse Regulation, reporting that management board member Walter Mertl purchased BMW shares outside a trading venue on 29 May 2026. The purchase, executed via a share option programme ...
Regulatory Filings and Compliance
BMW board member Jochen Goller acquires shares in option-linked transaction
Positive
Jun 1, 2026
BMW has disclosed a manager’s transaction involving Jochen Goller, a member of the company’s managing body, who purchased BMW shares in a deal linked to the exercise of a share option programme. The transaction, conducted outside a tra...
Executive/Board ChangesRegulatory Filings and Compliance
BMW board member Dr. Nicolai Martin buys shares via option programme
Positive
Jun 1, 2026
BMW has disclosed a manager transaction under EU market abuse regulations, reporting that management board member Dr. Nicolai Martin purchased BMW shares through the exercise of a share-based remuneration programme. The off-market transaction, exe...
Business Operations and StrategyExecutive/Board Changes
BMW Executive Joachim Post Buys Shares Worth €370,000 Under Option Plan
Positive
Jun 1, 2026
BMW disclosed a managers’ transaction involving Dr. Joachim Post, a member of the company’s managing body, who purchased BMW shares as part of a share option programme. The transaction, executed outside a trading venue on 29 May 2026, ...
Business Operations and StrategyStock Buyback
BMW Advances 2025–2027 Share Buy-Back With New Tranche of Repurchases
Positive
May 26, 2026
BMW AG has reported progress on its 2025–2027 share buy-back programme, disclosing that it repurchased 904,382 ordinary shares between 18 and 24 May 2026. The transactions were executed across multiple trading venues, including Xetra, CBOE E...
Business Operations and StrategyStock Buyback
BMW Advances 2025–2027 Share Buy-Back With 135,000 Shares Repurchased
Positive
May 4, 2026
BMW AG continued to execute its 2025–2027 share buy-back programme, repurchasing a total of 135,000 ordinary shares between 27 April and 3 May 2026. The transactions, carried out on the Xetra trading venue at weighted average prices ranging ...
Business Operations and StrategyStock Buyback
BMW Continues 2025–2027 Share Buy-Back With 54,000 Shares Repurchased
Positive
Apr 27, 2026
BMW AG, the German premium carmaker, continued executing its 2025/2027 share buy-back programme, repurchasing 54,000 ordinary shares between 20 and 26 April 2026 on the Xetra trading venue. The weighted average prices ranged from about €79.5...
Business Operations and StrategyStock Buyback
BMW Advances 2025–2027 Share Buy-back with New Tranche of Purchases
Positive
Apr 20, 2026
BMW AG has continued execution of its 2025–2027 share buy-back programme, purchasing 256,497 ordinary shares between 13 and 19 April 2026. The shares were acquired on the Xetra trading platform at a weighted average price in the low-80 euro ...
Business Operations and StrategyStock Buyback
BMW Continues 2025–2027 Share Buy-Back With New Tranche
Positive
Apr 13, 2026
BMW AG, the German premium automotive manufacturer, continued executing its 2025/2027 share buy-back programme, aiming to optimize its capital structure and enhance shareholder value. The company’s listed ordinary shares trade on regulated m...
Business Operations and StrategyStock Buyback
BMW Advances 2025–2027 Share Buy-Back With New Tranche of Purchases
Positive
Apr 7, 2026
BMW AG has continued to execute its 2025–2027 share buy-back programme, repurchasing 135,374 ordinary shares between 30 March and 5 April 2026 on the Xetra trading venue. The weighted average prices for these purchases were around €78 ...
Business Operations and StrategyStock Buyback
BMW Continues 2025–2027 Share Buy-Back With New Tranche on Xetra
Positive
Mar 31, 2026
BMW AG has continued executing its 2025–2027 share buy-back programme, repurchasing 189,444 ordinary shares between 23 and 29 March 2026 on the Xetra trading venue at a weighted average price in the mid-70 euro range. The ongoing buy-back un...
Business Operations and StrategyStock Buyback
BMW Advances 2025–2027 Share Buy-Back With 513,000 Shares Repurchased
Positive
Mar 9, 2026
BMW AG has continued executing its 2025–2027 share buy-back programme, repurchasing 513,466 ordinary shares between 2 and 8 March 2026 across Xetra and CBOE Europe. The weighted average prices ranged roughly between €80 and €86 p...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.