Skip to Content

Daimler AG DAI

Rating as of

Morningstar’s Analysis

Valuation
Currency in EUR
Is it the right time to buy or sell?
Find out with Morningstar Premium
Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Daimler Completes Spin-Off of Truck and Bus Business; New FVE of EUR 77 Per Share

Richard Hilgert Senior Equity Analyst

Analyst Note

| Richard Hilgert |

No-moat rated Daimler has completed the spin-off of its truck and bus operations, retaining a 35% equity stake in the new company, now called Daimler Truck AG. In 2020, Daimler Truck accounted for 23% of consolidated revenue and 8% of group adjusted EBIT. Removing the operations from our discounted cash flow model resulted in a EUR 7 reduction in our fair value estimate to EUR 77 from EUR 84. The remaining operations of Daimler AG, soon to be renamed Mercedes-Benz, include premium and luxury passenger vehicles and light commercial vans as well as Daimler Mobility, which includes financial services and other mobility services like ride-hailing. The 3-star rated shares of Daimler AG currently trade at 4% discount to our new fair value.

Read Full Analysis

Company Profile

Business Description

Based in Stuttgart, Germany, Daimler makes premium passenger vehicles and commercial vans. Brands include Mercedes-Benz, AMG, and Maybach. Daimler Mobility provides the company's dealers and its customers with vehicle financing as well as mobility services in ride hailing, car sharing, and charging. Daimler owns 11.9% of Aston Martin, 15.0% of Russian truck maker Kamaz, and 9.6% of Beijing Automotive Group. Li Shufu, chairman of Chinese automaker Geely Automobile, owns 9.7% of Daimler. Other major shareholders include Kuwait Investment Authority at 6.8%, Beijing Automotive group at 5.0%.

Contact
Mercedesstrasse 120
Stuttgart, BW, 70372, Germany
Sector Consumer Cyclical
Industry Auto Manufacturers
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type
Employees 289,282

Related