Mercedes-Benz Group AG
5-year stock timeline
Mercedes‑Benz Group (MBG.XETRA): Five‑Year Timeline
Corporate Events (2020–2026)
COVID‑19 disruptions and semiconductor shortages in 2020–21 forced production adjustments. The company prioritized higher‑margin vehicles, resulting in volatile deliveries and results across the car division.
Mid‑2021 through 2022 brought a historic realignment. The Board approved the spin‑off of Daimler Truck and repositioned the remaining group as Mercedes‑Benz Group, concentrating on passenger cars, vans and electrification.
From 2022–24, Russia's invasion, ongoing supply‑chain pressures and inflation combined with rising interest rates affected volumes and margins. Simultaneously, Mercedes‑Benz accelerated Ambition2039 and EV architecture commitments to reshape product and capital allocation.
Investor Narrative
The market moved from viewing Mercedes as a legacy OEM hit by COVID in 2020 to seeing a cleaner, luxury and EV‑focused story after the truck spin‑off. Investors rewarded the clearer capital allocation and concentrated luxury exposure.
From 2022–24, the stock reflected respect for improving margin discipline alongside skepticism over EV capex and execution risk. By 2024–26, investor focus shifted toward EV rollout, flexible manufacturing and near‑term profitability stabilization under the current management team.
Technical Chart Phases
Early 2020 saw a sharp pandemic sell‑off followed by multi‑leg recovery into 2021, driven by improving demand and optimism around the corporate split and strategy.
2021–2022 brought pronounced volatility and large drawdowns as semiconductor and supplier shocks combined with macro uncertainty. Late‑2022 through 2024 showed directional recovery as margins improved and EV announcements re‑rated sentiment. Consolidation into 2025–Q1 2026 has held around the current price level (€51.66) following more stable earnings trends.
Key Catalysts
Quarterly earnings beats and misses, along with margin progression tied to model mix and cost discipline, have moved the stock materially. EV model ramps, semiconductor and supplier availability, and manufacturing flexibility affect volumes and outlook. Chinese demand, raw‑material and energy price swings, and interest‑rate cycles can trigger outsized multiple re‑rating in this premium cyclical name.
Key risks and downside factors
Mercedes-Benz Group operates in a competitive premium auto market alongside established luxury manufacturers like BMW and Audi, as well as newer EV challengers including Tesla. The company's outlook is shaped by several structural pressures: the capital demands of transitioning to electric vehicles, ongoing supply-chain fragility and trade policy uncertainty, and tightening regulatory and ESG standards that require substantial investment and could compress margins.
- The shift to electric vehicles and new architectures carries real execution risk—the kind that can compress margins and demand heavy R&D and capital spending before returns materialize.
- Supply-chain friction, battery-component shortages, and trade-policy shifts can all delay production and push costs higher.
- Luxury automakers face intensifying competitive pressure from both legacy premium OEMs and dedicated EV manufacturers, with pricing and market share coming under compression [3][12].
- Regulatory, ESG, and cybersecurity compliance risks—emissions rules, reporting standards, data breaches—carry real teeth: fines, recalls, reputational damage that compounds quietly over time.
Competitive landscape
Mercedes‑Benz Group competes across a fragmented global auto market against established OEMs and newer EV players like BMW, Volkswagen, Toyota, and Tesla [3][1][5][12]. The competitive landscape hinges on EV adoption velocity, software and battery capabilities, and mounting pressure from cost-competitive Chinese manufacturers and mobility-focused startups [3][12]. The business faces cyclical demand swings, margin compression from EV and software capital requirements, supply-chain volatility around raw materials, and regulatory and safety exposure [1][5][13].
| Company | Ticker |
|---|---|
| BMW Group | BMW.XETRA |
| Volkswagen AG | VOW3.XETRA |
| Tesla, Inc. | TSLA.NASDAQ |
| Toyota Motor Corporation | TM.NYSE |
Private competitors
- Rimac Automobili
- Zoox (Amazon subsidiary)
- Doğuş Otomotiv Servis ve Ticaret
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Start Free TrialPerformance Figures of Mercedes-Benz Group AG
Relative Performance vs Benchmarks
| Period | Mercedes-Benz Group AG | vs DAX | vs S&P 500 (SPY) |
|---|---|---|---|
| 1M | -7.49% | -1.52% | -2.50% |
| 3M | -12.79% | -7.39% | -8.42% |
| 6M | -5.45% | -0.48% | -3.18% |
| 1Y | +4.97% | +2.19% | -12.29% |
| 3Y | -6.35% | -54.58% | -71.43% |
| 5Y | +13.51% | -39.84% | -60.31% |
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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 | 10.2 | 0.4 | 0.6 | 2.9 |
| 1Y ago | 5.9 | 0.4 | 0.6 | 2.7 |
| 3Y ago | 5.1 | 0.5 | 0.8 | 4.3 |
| 5Y ago | 8.9 | 0.6 | 1.0 | 2.6 |
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 | 3.50 EUR | — | 4.97% |
| 2025 | 4.30 EUR | 7.96% | |
| 2024 | 5.27 EUR | 7.26% | |
| 2023 | 5.20 EUR | 7.40% | |
| 2022 | 5.00 EUR | 7.45% | |
| 2021 | 1.13 EUR | 1.78% | |
| 2020 | 0.75 EUR | 2.42% | |
| 2020 | 0.90 EUR | 2.86% | |
| 2019 | 2.72 EUR | 6.39% | |
| 2018 | 3.06 EUR | 5.24% | |
| 2017 | 2.72 EUR | 4.49% | |
| 2016 | 2.72 EUR | 5.20% | |
| 2015 | 2.05 EUR | 2.72% | |
| 2014 | 1.88 EUR | 3.19% | |
| 2013 | 1.84 EUR | 5.16% |
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 | 132.21B | 145.59B | 152.39B | 150.02B | 133.89B |
| Operating income (EBIT) | 4.87B | 12.30B | 17.52B | 17.85B | 14.19B |
| Net income | 5.14B | 10.21B | 14.26B | 14.50B | 23.01B |
| Free cash flow | 8.26B | 9.07B | 6.26B | 9.99B | 17.23B |
| Total assets | 255.47B | 265.01B | 263.02B | 260.01B | 259.83B |
| Equity | 93.26B | 92.63B | 91.77B | 85.42B | 71.95B |
| Net debt | 68.02B | 76.30B | 69.08B | 64.09B | 86.57B |
PWP Leeway UG (haftungsbeschränkt)
