Mercedes-Benz Group AG

MBG: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Mercedes-Benz Earnings: China Offsets Solid Performance Everywhere Else; Fair Value Unchanged

Rella Suskin

Oct 28, 2026

Mercedes' third-quarter revenue fell 5%, led by the cars division, which saw an 8% volume decline. Group adjusted EBIT is flat, with vans and financial services acting as a hedge. Both fixed and variable costs continue to be reduced, with a new retrenchment program launching toward year-end.

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Mercedes-Benz Group AG

Mercedes-Benz Earnings: China Offsets Solid Performance Everywhere Else; Fair Value Unchanged

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