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BMW group equity research - a shift in gear
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| 4.51 MB | Adobe PDF |
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Resumo(s)
This Work Project consists of an Equity Research, focused on the intrinsic valuation of the company BMW AG. A sum of the parts valuation model is used to quantify the value of the firms’ businesses that range from car and motorcycle manufacturing to financial services. Although BMW enjoys a strong branding power, challenges in the form of innovative competition in the EVs segment, production disruption due to a shortage of semiconductor chips and possible government intervention in key regions severely decrease growth possibilities. We forecast a sales growth in the region of 1.2%-3.0% after 2022 and slightly increasing margins. Our result yields a HOLD recommendation with 5.1% shareholder return for FY2022.
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Valuation Electric vehicles Automotive industry Bmw group Share price BMW equity research