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Bayerische Motoren Werke Aktiengesellschaft
(XETRA:BMW)
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Rating:56Neutral
Price Target:
€61.00
▲(7.09% Upside)
Action:Reiterated
Date:08/01/26
Overall score reflects a balance between attractive valuation (low P/E and high dividend yield) and meaningful fundamental/operational risks. The largest negatives are weak cash generation (negative free cash flow) and a clearly bearish longer-term price trend (below 50/100/200-day averages). Earnings-call messaging provides some support via confirmed guidance, restructuring actions and capital discipline, but residual-value provisions, macro headwinds and execution uncertainty keep the outlook cautious.
Positive Factors
Premium brand and diversified revenue streams
BMW's portfolio of premium brands and complementary financial services creates durable demand and pricing power. Premium mix, aftermarket parts and leasing/finance income diversify revenue, supporting margin resilience and repeatable cash flows across economic cycles and geographies.
Negative Factors
Weak free cash flow generation
Consistent negative free cash flow despite positive accounting earnings undermines internal funding for R&D, CapEx and dividends. Persistent cash conversion shortfalls increase reliance on external financing and limit flexibility to invest in electrification or absorb cyclical shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Premium brand and diversified revenue streams
BMW's portfolio of premium brands and complementary financial services creates durable demand and pricing power. Premium mix, aftermarket parts and leasing/finance income diversify revenue, supporting margin resilience and repeatable cash flows across economic cycles and geographies.
Read all positive factors
Bayerische Motoren Werke Aktiengesellschaft (BMW) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€35.90B
Dividend Yield7.42%
Average Volume (3M)901.36K
Price to Earnings (P/E)5.7
Beta (1Y)1.24
Revenue Growth-6.21%
EPS Growth11.84%
CountryDE
Employees154,540
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)10.38
Shares Outstanding615,810,400
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
€74.59Price Target Upside30.95% Upside
Rating ConsensusHold
Number of Analyst Covering12
EPS Forecast (FY)6.75
Revenue Forecast (FY)€128.94B
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 makes money mainly through (1) Automotive sales and related services, (2) Motorcycles sales, and (3) Financial Services.
1) Automotive segment (largest revenue stream):
- Vehicle sales: BMW generates revenue from selling new vehicles under th...
Bayerische Motoren Werke Aktiengesellschaft Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Neutral
The call balanced strategic positives and concrete cost/efficiency actions against clear near-term execution and market risks. Positives include a formal restructuring program designed to reduce complexity and purchasing costs, confirmation of the 8%–10% EBIT target, cost-per-unit improvements in German plants (25% reduction over five years), continued profitability in China in Q2, disciplined R&D/CapEx guidance (R&D ~4%–5%, CapEx <5%) and product catalysts (iX3 launch). Negatives and risks include sizable near-term restructuring costs (up to 1.25 percentage points of EBIT), uncertainty over the ultimate run-rate savings and timing (management declined to commit to a specific euro figure), deterioration in residual-value trends (with ~EUR 2.25 billion of extra provisions), commodity/FX headwinds in H2, and weaker China profitability versus the prior year. Overall, the positives around strategic direction and cost discipline are meaningful but are offset by notable execution risks and near-term headwinds that leave the tone cautious and guarded.Positive Updates
Restructuring Program Launched with Four Pillars
Company announced a broad restructuring (8,000 headcount reduction) focused on four pillars: customer/sales (direct sales), internal organizational simplification, purchasing/partnerships and product development standardization. Program expected to materially improve cost structure and time-to-market.
Negative Updates
Large-Scale Headcount Reductions and Near-Term Costs
Restructuring includes 8,000 positions (primarily overhead/white-collar); the program will incur an EBIT impact disclosed as up to 1.25 percentage points for the year and cash-out is expected mainly in 2027 with 'hardly any' cash out in 2026.
Read all updates
Q2-2026 Updates
Positive
Negative
Restructuring Program Launched with Four Pillars
Company announced a broad restructuring (8,000 headcount reduction) focused on four pillars: customer/sales (direct sales), internal organizational simplification, purchasing/partnerships and product development standardization. Program expected to materially improve cost structure and time-to-market.
Read all positive updates
Company Guidance
BMW confirmed 2026 guidance for an automotive EBIT margin of 1%–3% (which incorporates a restructuring hit of up to 1.25 percentage points) while reiterating its long‑term EBIT target corridor of 8%–10%; management announced ~8,000 role reductions with little cash out in 2026 and most cash effects expected in 2027 (people discussions to start in Q4) and declined to commit to a run‑rate savings figure (analysts have suggested a high‑three‑hundred‑million‑euro range, to be clarified at the September CMD). The group reiterated capital intensity guidance (R&D ~4%–5% of revenue; CapEx <5%), said ordinary PPA amortization runs through mid‑2028 and goodwill is roughly EUR 1bn, flagged EUR 2.25bn of extra residual‑value provisions, reported the China JV remained profitable in Q2, warned of FX/commodity headwinds in H2 but expects working‑capital unwind and CapEx below depreciation to support free cash flow, and pointed to the iX3 ramp in China (end‑Q4) as a contributor for 2027.Bayerische Motoren Werke Aktiengesellschaft Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
58
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 128.03B | 133.45B | 142.38B | 155.50B | 142.61B | 111.24B |
| Gross Profit | 18.32B | 27.44B | 30.54B | 37.23B | 31.19B | 28.29B |
| EBITDA | 18.23B | 19.20B | 19.85B | 26.25B | 32.29B | 22.77B |
| Net Income | 6.30B | 7.29B | 7.29B | 11.29B | 17.94B | 12.38B |
Balance Sheet | ||||||
| Total Assets | 272.99B | 278.35B | 267.73B | 250.89B | 246.93B | 229.53B |
| Cash, Cash Equivalents and Short-Term Investments | 20.63B | 21.31B | 21.85B | 17.33B | 22.03B | 21.81B |
| Total Debt | 116.79B | 106.30B | 85.50B | 71.55B | 71.56B | 83.73B |
| Total Liabilities | 175.55B | 180.45B | 172.73B | 157.97B | 155.64B | 154.40B |
| Stockholders Equity | 95.35B | 95.70B | 92.31B | 89.60B | 87.13B | 74.37B |
Cash Flow | ||||||
| Free Cash Flow | -5.51B | -2.98B | -4.64B | 6.47B | 14.47B | 9.28B |
| Operating Cash Flow | 3.80B | 7.98B | 7.57B | 17.36B | 23.52B | 15.90B |
| Investing Cash Flow | -8.68B | -9.95B | -11.37B | -9.55B | -4.77B | -6.39B |
| Financing Cash Flow | 5.14B | 1.62B | 5.77B | -6.67B | -17.98B | -6.74B |
Bayerische Motoren Werke Aktiengesellschaft Technical Analysis
Negative
56.96
Price Trends
61.93
Negative
68.72
Negative
76.03
Negative
Market Momentum
-0.59
Negative
43.68
Neutral
53.21
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 56.96 is below the 20-day moving average (MA) of 58.56, below the 50-day MA of 61.93, and below the 200-day MA of 76.03, indicating a neutral trend. The MACD of -0.59 indicates Negative momentum. The RSI at 43.68 is Neutral, neither overbought nor oversold. The STOCH value of 53.21 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 | €8.81B | 5.61 | 7.73% | 5.57% | -13.16% | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | €45.00B | 8.90 | 5.43% | 7.82% | -7.07% | -24.21% | |
56 Neutral | €35.90B | 5.71 | 6.61% | 7.72% | -6.21% | 11.84% | |
55 Neutral | €37.78B | 7.14 | 3.18% | 7.36% | -0.79% | -37.21% |
* Consumer Cyclical Sector Average
DE:BMW
Bayerische Motoren Werke Aktiengesellschaft
58.62
-23.03
-28.21%
DE:MBG
Mercedes-Benz Group
46.77
-0.93
-1.94%
DE:PAH3
Porsche Automobil Holding
29.04
-4.38
-13.11%
DE:VOW3
Volkswagen
75.56
-11.87
-13.57%
Bayerische Motoren Werke Aktiengesellschaft Corporate Events
Business Operations and StrategyStock Buyback
BMW Advances 2025–2027 Share Buy-Back With 634,883 Shares Repurchased
Positive
Jul 27, 2026
BMW AG has continued executions under its 2025–2027 share buy-back programme, repurchasing a total of 634,883 ordinary shares between 20 July and 24 July 2026. The trades were carried out on Xetra at weighted average prices ranging from abou...
Stock BuybackRegulatory Filings and Compliance
BMW Increases Treasury Share Holdings Above 3% Threshold
Neutral
Jul 22, 2026
BMW has disclosed that its holdings of own shares have risen to 3.023% of the total 615,810,431 shares issued, crossing the 3% threshold on July 21, 2026.This increase from a previously reported 0.295% stake signals a significant expansion of the ...
Business Operations and StrategyStock Buyback
BMW Steps Up 2025–2027 Share Buyback With 510,000-Share Purchase
Positive
Jul 20, 2026
BMW AG has continued executing its 2025–2027 share buyback programme, repurchasing 510,000 ordinary shares between 13 and 19 July 2026 on Xetra at a weighted average price of just under €59 per share. The ongoing buyback signals manage...
Business Operations and StrategyStock Buyback
BMW Accelerates 2025–2027 Share Buy-Back With 600,000-Share Tranche
Positive
Jul 13, 2026
BMW AG, the Munich-based premium automobile manufacturer, continued execution of its 2025/2027 share buy-back programme, repurchasing 600,000 ordinary shares between 6 and 12 July 2026. The transactions were carried out on the Xetra trading venue ...
Business Operations and StrategyStock Buyback
BMW Advances 2025–2027 Share Buy-Back With 300,000-Share Purchase
Positive
Jul 6, 2026
BMW AG has continued execution of its 2025–2027 share buy-back programme, acquiring a total of 300,000 ordinary shares between 1 and 3 July 2026 on the Xetra trading venue. The repurchases were made at weighted average prices ranging from ab...
Financial DisclosuresRegulatory Filings and Compliance
BMW schedules release of 2026 half-year financial report
Neutral
Jul 3, 2026
Bayerische Motoren Werke Aktiengesellschaft has announced that it will publish its half-year report for 2026, covering the period from January 1 to June 30, on July 30, 2026. The report will be made available via the company’s investor relat...
Business Operations and StrategyStock BuybackFinancial Disclosures
BMW Completes Second Tranche of €1.38 Billion Share Buy-Back
Positive
Jul 1, 2026
BMW AG has continued executing its share buy-back programme for 2025–2027, purchasing 1,890,895 ordinary shares between 22 and 28 June 2026 on trading venues including Xetra, CBOE Europe and Turquoise. This latest activity completed the prog...
Business Operations and StrategyStock Buyback
BMW launches third tranche in €2 billion 2025–2027 share buy-back plan
Positive
Jul 1, 2026
BMW AG is continuing its 2025–2027 share buy-back programme, authorised by shareholders in May 2025, with a third tranche starting 1 July 2026 and running until at least 30 November 2026. The overall programme has a volume of up to €2 ...
Delistings and Listing ChangesShareholder Meetings
BMW Converts All Preferred Shares into Ordinary Stock and Updates Listings
Neutral
Jun 30, 2026
BMW AG has converted all 54,675,505 non-voting preferred shares into voting ordinary shares, following shareholder approvals at its Annual General Meeting and a separate meeting of preferred shareholders in May 2026. The company’s share capi...
Regulatory Filings and Compliance
BMW Updates Total Number of Voting Rights Under German Securities Law
Neutral
Jun 30, 2026
BMW is a German premium automotive and motorcycle manufacturer based in Munich, with its shares traded on major regulated and free markets across Germany, underscoring its status as a key listed player in Europe’s car industry.The company ha...
Business Operations and StrategyStock Buyback
BMW Advances 2025–2027 Share Buy-Back with June Repurchases
Positive
Jun 22, 2026
BMW AG continued executing its 2025–2027 share buy-back programme, repurchasing 129,998 ordinary shares between 15 and 21 June 2026 on the Xetra trading venue. The weighted average prices ranged from about EUR 59.93 to EUR 69.14 per share, a...
Business Operations and StrategyStock BuybackFinancial Disclosures
BMW cuts 2026 outlook as China slump and higher costs squeeze margins
Negative
Jun 16, 2026
BMW has cut its 2026 guidance, now expecting a slight decline in automotive deliveries and a reduced EBIT margin of 1–3% for its core car segment, down from 4–6%. The company also lowered its RoCE outlook to 1–5% and forecast a s...
Business Operations and StrategyStock Buyback
BMW Advances 2025–2027 Share Buy-Back With June Repurchases
Positive
Jun 15, 2026
BMW AG continued executing its 2025–2027 share buy-back programme, repurchasing 423,031 ordinary shares between 8 and 14 June 2026 on the Xetra trading venue. The transactions, carried out at weighted average prices around the high‑60 ...
Business Operations and StrategyStock Buyback
BMW Advances 2025–2027 Share Buy-Back with 630,000 Shares Repurchased
Positive
Jun 8, 2026
BMW AG continued executing its 2025–2027 share buy-back programme, repurchasing 630,000 ordinary shares between 1 and 7 June 2026 across Xetra and CBOE Europe at a weighted average price in the low- to mid-€70 range. The move underscor...
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 ...
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.