Projected Income Statement: BMW AG

Forecast Balance Sheet: BMW AG

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 -18,645 -22,362 -24,603 -17,003 -45,779 -46,956 -49,404 -53,670
Change - -19.94% -10.02% 30.89% -169.24% -2.57% -5.21% -8.63%
Announcement Date 3/17/21 3/10/22 3/15/23 3/21/24 3/14/25 - - -
1EUR in Million
Estimates

Cash Flow Forecast: BMW AG

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
CAPEX 1 6,150 7,518 9,050 10,881 12,205 10,423 10,050 9,809
Change - 22.24% 20.38% 20.23% 12.17% -14.6% -3.58% -2.4%
Free Cash Flow (FCF) 1 3,395 6,354 11,071 6,942 4,852 4,969 5,767 6,931
Change - 87.16% 74.24% -37.3% -30.11% 2.41% 16.05% 20.19%
Announcement Date 3/17/21 3/10/22 3/15/23 3/21/24 3/14/25 - - -
1EUR in Million
Estimates

Forecast Financial Ratios: BMW AG

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027

Profitability

        
EBITDA Margin (%) 11.08% 17.88% 15.82% 17.66% 14.16% 13.06% 13.37% 13.8%
EBIT Margin (%) 4.88% 12.05% 9.82% 11.89% 8.08% 7.1% 7.42% 8.09%
EBT Margin (%) 5.28% 14.44% 16.48% 10.99% 7.71% 7.05% 7.52% 8.17%
Net margin (%) 3.81% 11.13% 12.58% 7.26% 5.12% 4.65% 4.96% 5.48%
FCF margin (%) 3.43% 5.71% 7.76% 4.46% 3.41% 3.46% 3.94% 4.62%
FCF / Net Income (%) 89.93% 51.32% 61.71% 61.49% 66.56% 74.54% 79.42% 84.33%

Profitability

        
ROA 1.7% 5.55% 7.53% 4.54% 2.81% 3.43% 4.48% 5.46%
ROE 6.28% 18.31% 22.22% 12.78% 8.01% 7.54% 7.74% 8.44%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - - - -
Debt / Free cash flow - - - - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 6.21% 6.76% 6.35% 7% 8.57% 7.27% 6.87% 6.54%
CAPEX / EBITDA (%) 56.07% 37.79% 40.11% 39.63% 60.54% 55.66% 51.36% 47.35%
CAPEX / FCF (%) 181.15% 118.32% 81.75% 156.74% 251.55% 209.75% 174.28% 141.53%

Items per share

        
Cash flow per share 1 20.11 24.11 39.34 30.25 12.06 22.88 23.28 23.41
Change - 19.87% 63.19% -23.11% -60.13% 89.73% 1.73% 0.59%
Dividend per Share 1 1.9 5.8 8.5 6 4.3 3.976 4.227 4.689
Change - 205.26% 46.55% -29.41% -28.33% -7.54% 6.33% 10.93%
Book Value Per Share 1 92.4 123.5 145.7 154.5 161.8 156.8 163.6 170.5
Change - 33.69% 17.95% 6.02% 4.72% -3.11% 4.34% 4.27%
EPS 1 5.73 18.77 27.31 17.67 11.62 10.7 11.68 13.23
Change - 227.57% 45.5% -35.3% -34.24% -7.92% 9.2% 13.25%
Nbr of stocks (in thousands) 658,863 659,685 645,288 640,854 627,659 603,594 603,594 603,594
Announcement Date 3/17/21 3/10/22 3/15/23 3/21/24 3/14/25 - - -
1EUR
Estimates
2025 *2026 *
P/E ratio 7.66x 7.02x
PBR 0.52x 0.5x
EV / Sales 0.02x -
Yield 4.85% 5.16%
More valuation ratios * Estimated data

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Trading Rating
Investor Rating
ESG MSCI
A
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
22
Last Close Price
82.00EUR
Average target price
84.89EUR
Spread / Average Target
+3.52%
Consensus

Quarterly revenue - Rate of surprise