Porsche reiterated its value-over-volume principles on its capital markets day. Volume is not expected to grow beyond 2025 levels. It expects the brand's first supercar, increased 911 enrichment, and growing personalization penetration, along with cost reductions, to drive operational leverage.
Owning a Porsche continues to be aspirational, providing the brand with superior pricing power and gross margins relative to its premium-branded automotive peers. With 63% of its volume at luxury price points, most of the business is sheltered from commoditization.
Porsche’s volume growth over the last decade has diluted the brand's exclusivity. Continued volume growth and geographic concentration as the company redirects volume away from China may result in reduced pricing power.
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Metric
|
P911
|
VOW
|
RACE
|
|---|---|---|---|
Price/Earnings (Normalized) | 18.90 | 3.43 | 35.72 |
Price/Book Value | 1.68 | 0.20 | 16.39 |
Price/Sales | 1.09 | 0.11 | 8.05 |
Price/Cash Flow | 6.27 | 0.79 | 22.58 |
|
Metric
|
P911
|
VOW
|
RACE
|
|---|---|---|---|
Quick Ratio | 0.98 | 0.80 | 1.30 |
Current Ratio | 1.43 | 1.07 | 1.80 |
Interest Coverage | — | 4.16 | 63.42 |
|
Metric
|
P911
|
VOW
|
RACE
|
|---|---|---|---|
Return on Assets (Normalized) | 1.09% | 0.90% | 16.65% |
Return on Equity (Normalized) | 2.52% | 3.41% | 43.28% |
Return on Invested Capital (Normalized) | 1.78% | 1.94% | 24.33% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
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United States