Bayerische Motoren Werke Aktiengesellschaft
5-year stock timeline
BMW's journey from 2020 to now reflects a company that weathered disruption, outperformed peers when it mattered, and quietly repositioned itself around cash returns and electrification.
The pandemic hit hard in 2020 — plant shutdowns, demand collapse — but BMW's recovery was notably quicker than competitors. China bounced back fast, and EV sales picked up sooner than expected. By 2021, the company had posted record results while managing the semiconductor shortage better than most. That wasn't luck; it was execution, and the market noticed.
The 2022 Russia suspension introduced real volatility and geopolitical risk that no one could ignore. But underneath, supply chains were gradually normalizing. BMW raised guidance, margins expanded in 2023, and the dividend proposals got materially larger. Shareholders were getting paid.
What's interesting is how the narrative shifted. In 2020–2021, BMW looked like a resilient premium operator outperforming on margins during chip stress. By 2023 onward, investors started thinking differently — less about cyclical recovery, more about a profitable incumbent executing a structured EV transition while returning cash. The Neue Klasse architecture, Gen-6 batteries, factory retooling at Debrecen and Munich — these became the frame. Not a pure growth story, but a profitable one with downside protection from dividends and buybacks.
The stock itself tells that story. A sharp rebound into 2021, choppy 2022 as geopolitical uncertainty sank in, then renewed strength through 2023 and into 2024 as earnings improved and capital allocation became clearer. From 2024 onward, price action settled into consolidation punctuated by rallies on concrete EV and manufacturing milestones. The market is trading execution now, not narrative.
At 77.78, you're watching a company that's proven it can navigate disruption, that returns cash consistently, and that has a credible multi-year plan. Whether that's compelling depends on what you think happens when the EV production ramp actually materializes into 2025 and 2026.
Key risks and downside factors
BMW competes across luxury and volume segments against Mercedes-Benz Group, Volkswagen Group, Toyota, Stellantis and Tesla. The competitive landscape spans internal-combustion, hybrid and electric vehicles alongside premium services and software, with both EV specialists and large OEMs intensifying pressure across these areas. The company faces exposure to cyclical demand patterns, supply-chain vulnerabilities around semiconductors, batteries and commodities, and increasingly stringent emissions and safety regulations across its major markets.
- EV transition and competition risk: Tesla and established automakers are scaling EV production faster than anticipated, which could compress BMW's premium margins and chip away at its market position.
- Supply-chain and commodity risk: semiconductor shortages, battery raw-material price volatility, and logistics disruptions pose real threats to production timelines and operating costs [2][1].
- Regulatory and compliance risk: Tightening CO2, safety, and data privacy regulations across the EU and major markets could force costly product modifications and additional capital spending.
- Macro cycles and demand volatility present real headwinds—downturns, currency fluctuations, and rising financing costs can meaningfully compress both volumes and profitability across geographies [11][12].
Competitive landscape
BMW competes in the global premium automotive market alongside Mercedes-Benz, Audi, Porsche, and Tesla, with intensifying pressure from Chinese EV manufacturers particularly in China and neighboring regions. The company's trajectory hinges on three factors: successful execution of its Neue Klasse electric vehicle and software initiative, the inherent cyclicality of luxury vehicle demand, and vulnerability to regulatory shifts and supply chain disruptions.
| Company | Ticker |
|---|---|
| Mercedes‑Benz Group AG | MBG.XETRA |
| Volkswagen AG (preferred) | VOW3.XETRA |
| Porsche AG | P911.XETRA |
| Tesla, Inc. | TSLA.NASDAQ |
Private competitors
- Doğuş Otomotiv
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Start Free TrialPerformance Figures of Bayerische Motoren Werke Aktiengesellschaft
Relative Performance vs Benchmarks
| Period | Bayerische Motoren Werke Aktiengesellschaft | vs DAX | vs S&P 500 (SPY) |
|---|---|---|---|
| 1M | -8.24% | -2.27% | -3.25% |
| 3M | -16.26% | -10.86% | -11.89% |
| 6M | -9.74% | -4.77% | -7.47% |
| 1Y | +11.07% | +8.29% | -6.19% |
| 3Y | -6.05% | -54.28% | -71.13% |
| 5Y | +20.14% | -33.21% | -53.68% |
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Start Free TrialHistorical valuation trends
How the company’s key valuation ratios (P/E, P/S, P/B and P/CF) have evolved over time compared to today.
| Period | P/E Ratio | P/S Ratio | P/B Ratio | P/CF Ratio |
|---|---|---|---|---|
| Current | 6.5 | 0.4 | 0.5 | 5.9 |
| 1Y ago | 6.9 | 0.3 | 0.5 | 5.5 |
| 3Y ago | 5.8 | 0.4 | 0.7 | 2.4 |
| 5Y ago | 9.7 | 0.6 | 0.9 | 3.5 |
Key Metrics
Valuation Metrics
Profitability Metrics
Growth Metrics
Dividend history
Long-term record of paid dividends (amount per share and dividend yield at the time of payment).
| Year | Dividend | Yield at payment | Avg. yield |
|---|---|---|---|
| 2026 | 4.40 EUR | — | 4.43% |
| 2025 | 4.30 EUR | 5.22% | |
| 2024 | 6.00 EUR | 5.83% | |
| 2023 | 8.50 EUR | 7.84% | |
| 2022 | 5.80 EUR | 7.05% | |
| 2021 | 1.65 EUR | 2.02% | |
| 2021 | 1.90 EUR | 2.25% | |
| 2020 | 2.50 EUR | 5.31% | |
| 2019 | 3.50 EUR | 5.01% | |
| 2018 | 4.00 EUR | 4.29% | |
| 2017 | 3.50 EUR | 3.88% | |
| 2016 | 3.20 EUR | 4.23% | |
| 2015 | 2.90 EUR | 2.76% | |
| 2014 | 2.60 EUR | 2.95% | |
| 2013 | 2.50 EUR | 3.41% |
Earnings history & estimates
Historical earnings performance shows how consistently the company meets or exceeds analyst expectations. Forward estimates provide insight into expected profitability and growth trajectory.
Historical earnings performance
Upcoming earnings report
Analyst estimates for upcoming periods
Key financial figures
Selected income statement, balance sheet and cash flow figures. Annual and quarterly, based on reported IFRS/GAAP financials.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | 133.45B | 142.38B | 155.50B | 142.61B | 111.24B |
| Operating income (EBIT) | 9.87B | 11.59B | 18.49B | 13.98B | 13.44B |
| Net income | 7.29B | 7.29B | 11.29B | 17.94B | 12.38B |
| Free cash flow | -2.98B | -4.64B | 6.47B | 14.47B | 9.28B |
| Total assets | 278.35B | 267.73B | 250.89B | 246.93B | 229.53B |
| Equity | 95.70B | 92.31B | 92.92B | 91.29B | 75.13B |
| Net debt | 87.45B | 66.22B | 72.24B | 54.69B | 67.72B |
PWP Leeway UG (haftungsbeschränkt)
