Dr. Ing. h.c. F. Porsche AG Bearer Shares

P911: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Porsche: Misses Targets Again and Slashes Long-Term Margin Outlook; Reducing Our Fair Value Estimate

Rella Suskin

Sep 24, 2025

Porsche has cut its 2025 operating margin outlook to 0%-2% from 5%-7% as it effectively impaired research and development capitalized on a battery electric vehicle platform that is no longer being released. It also materially downgraded its longer-term margin goals to 10%-15% from 15%-17%.

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Dr. Ing. h.c. F. Porsche AG Bearer Shares

Porsche: Misses Targets Again and Slashes Long-Term Margin Outlook; Reducing Our Fair Value Estimate

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