Bayerische Motoren Werke AG
Bayerische Motoren Werke Aktiengesellschaft develops, manufactures, and sells automobiles and motorcycles, spare parts, and accessories worldwide. It operates through Automotive, Motorcycles, and Financial Services segments. The company offers automobiles under the BMW, MINI, and Rolls-Royce brands…
Bayerische Motoren Werke Aktiengesellschaft develops, manufactures, and sells automobiles and motorcycles, spare parts, and accessories worldwide. It operates through Automotive, Motorcycles, and Financial Services segments. The company offers automobiles under the BMW, MINI, and Rolls-Royce brands. It also develops, manufactures, and sells scooters, and motorcycles for private use and special-purpose vehicles for operational use under the BMW Motorrad brand. In addition, the company provides car rentals; credit financing; leasing that include insurance and service products; financing for dealership and customer deposits; vehicle fleet financing services for corporate car fleets under the Alphabet brand; and financial services for the automotive sector. It sells its products through retail outlet, agent, and independent dealerships. Bayerische Motoren Werke Aktiengesellschaft was founded in 1916 and is headquartered in Munich, Germany.Priced within the modelled range
5-year outlook: Not shown because confidence is low: Earnings-based DCF is somewhat apart.
Other models: EUR 137.67–203.39 (median 170.53). The recommended value is in line with them.
Why: Dividends are a large share of earnings, so the cash paid to shareholders is the best guide to value.
Details and the full model are below.
Market price within modeled range
Uses reported dividends of EUR 4.3000 per share from TTM through 30 Jun 2026, with 2.98% perpetual growth (base growth capped at the terminal rate) and 10.8% discount rates. The range varies growth and discount assumptions by 1 percentage point; it is illustrative, not a statistical confidence interval or investment advice.
Assumptions: growth 2.98%, discount rate 10.80%, terminal growth 3.10% (sector defaults). See a worked example.
Blended growth assumption: 3.0% (sector default 7.2%, own revenue history -2.2%, analyst revenue consensus 3.5%).
Analyst consensus expects revenue growth of 3.5% a year; the growth assumption used is 3.0%.
Adjust assumptions
Why this model: Dividends are a large share of earnings, so the cash paid to shareholders is the best guide to value.
Compare models- Recommended: Dividend discount model — EUR 56.63 (-4.1%)
-
EPS-based Gordon proxy
— EUR 137.67 (+133.2%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
-
DCF (trailing free cash flow)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
-
FCFF (steady state)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
-
EV/EBITDA (12x)
— EUR 203.39 (+244.5%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
-
Fade DCF (10-year growth fade)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
-
EV/Sales (Rule of 40)
— EUR 571.86 (+868.6%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear EUR 44.66 | -32.2% |
| Base EUR 56.63 | -4.3% |
| Bull EUR 76.82 | 23.1% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
At EUR 59.04 the market implies perpetual dividend growth of about this rate (discount rate 10.8%).
Compare: the market implies 3.3% a year, this model assumes 3.0%. The market expects more than this model does, which is why it reads as overvalued.
How the Dividend discount model value changes with growth (rows) and discount rate (columns). Green cells are above the current price. Dividend growth cannot exceed the long-run rate, so duplicate capped scenarios are omitted.
| Growth \ Discount | 8.8% | 9.8% | 10.8% | 11.8% | 12.8% |
|---|---|---|---|---|---|
| -1.0% | 43.34 | 39.34 | 36.01 | 33.20 | 30.80 |
| 1.0% | 55.53 | 49.23 | 44.22 | 40.13 | 36.74 |
| 3.0% | 76.08 | 64.93 | 56.63 | 50.21 | 45.09 |
| 3.1% | 77.78 | 66.17 | 57.58 | 50.96 | 45.70 |
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 42 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 2 of 5 years | 8 / 20 |
| Growth | revenue -2.7% a year | 4 / 20 |
| Balance sheet | net debt 5.3x EBITDA | 0 / 20 |
| Margins | EBITDA margin 14% | 10 / 20 |
Peers in Consumer Discretionary
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| BMW.DE (this company) | EUR 59.04 | -4.3% | 5.6 | 0.4 | 7.3% | 42 |
| KGF.L Kingfisher plc | GBP 3.70 | 45.5% | 26.8 | 1.1 | 3.3% | 74 |
| BWY.L Bellway p.l.c. | GBP 22.72 | 44.3% | 13.8 | 0.8 | 3.1% | 70 |
| INCH.L Inchcape plc | GBP 6.33 | 38.1% | 8.8 | 1.9 | 4.2% | 80 |
| ZAL.DE Zalando SE | EUR 27.37 | 36.9% | 108.0 | 2.6 | – | 80 |
| DECK Deckers Brands | USD 85.74 | 36.4% | 10.9 | 5.0 | – | 100 |
| LULU Lululemon Athletica | USD 109.52 | 34.7% | 8.7 | 2.6 | – | 100 |
| EXPE Expedia Group | USD 268.04 | 30.8% | 15.6 | 19.8 | 0.7% | 100 |
| BKNG Booking Holdings | USD 166.20 | 29.9% | 17.4 | – | 1.0% | 100 |
| Peer median | 14.7 | 2.6 | ||||
Dividends
Paid in the last 12 months: EUR 4.40 per share · yield 7.45% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 4.400 |
| 2025 | 4.300 |
| 2024 | 6.000 |
| 2023 | 8.500 |
| 2022 | 5.800 |
| 2021 | 3.555 |
Trailing 12-month financials
TTM through 30 Jun 2026 · quarterly EODHD data · data downloaded 05 Nov 2026 16:05
| Revenue | EUR 128,034,000,000 |
|---|---|
| EBITDA | EUR 18,232,000,000 |
| EBIT | EUR 9,033,000,000 |
| Net income | EUR 6,303,000,000 |
| Free cash flow | EUR -5,512,000,000 |
| Capital expenditures | EUR 9,313,000,000 |
| Debt | EUR 116,789,000,000 |
| Cash | EUR 20,632,000,000 |
| Working capital | EUR 12,402,000,000 |
| Shares outstanding | 602,926,829 |