Dr. Ing. h.c. F. Porsche AG Bearer Shares
P911: XETR (DEU)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| €73.00 | Xnvwjsx | Ftdznqgjp |
Porsche Earnings: Increased Investments Weigh on Bottom Line
/s3.amazonaws.com/arc-authors/morningstar/f34aaf21-a6ec-4ce4-964e-1bfba836175c.jpg)
Narrow-moat-rated Porsche reported fourth-quarter earnings per share of EUR 1.28, EUR 0.24 below FactSet consensus estimates and EUR 0.11 lower than fourth-quarter 2022 EPS. Consolidated revenue declined 4.5% to almost EUR 10.4 billion from EUR 10.9 billion a year ago as unit volume declined 12.3% year over year. Nonetheless, we reiterate our fair value of EUR 92 per share as our outlook for the company remains unchanged. The 3-star-rated shares of Porsche currently trade at a 6% discount to our fair value.