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Equity Valuation: Mercedes-Benz Group AG
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| 1.06 MB | Adobe PDF |
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Orientador(es)
Resumo(s)
The primary aim of this thesis is to conduct an equity valuation of Mercedes Benz, with the
objective of delivering an investment recommendation by determining the fair value of the
company's shares. The valuation employs two main methodologies: the Discounted Cash Flow
(“DCF”) model and the Relative Valuation (or multiples) model. Upon applying the DCF and
Relative Valuation models, the resultant valuation suggests strategic investment actions.
According to the outcomes derived from the DCF model, if the computed share value notably
exceeds the market price as of the most recent fiscal year-end, a 'buy' recommendation may
be warranted. Our analysis estimates a fair share price of €79.60, significantly above the
market price of €50.90 as of 30 June 2025, leading to a buy or hold recommendation for
investors. To support this, we applied two key market multiples: Price to Earnings (“P/E”) and
Enterprise Value to EBITDA (“EV/EBITDA”). These were selected due to their relevance in
assessing profitability, operational performance, and comparability within the mature
automotive industry.
Descrição
Dissertation presented as the partial requirement for obtaining a Master's degree in Information Management, specialization in Business Intelligence
Palavras-chave
Mercedes-Benz Cars Equity Valuation Free Cash Flow to Firm Relative Valuation Automative Sector SDG 8 - Decent work and economic growth