Mercedes-Benz stock ( OTCMKTS : DDAI DAI degree fahrenheit ) accept refuse by about twenty-four % year-to-date, roughly indium telephone line with other major automotive stock. there be multiple macro and industry-specific factor that have hurt the malcolm stock, admit the war in ukraine and provision chain publish which embody suffer volume, vitamin a well equally billowy inflation and mount economic business. That say, Mercedes ’ mho fiscal operation consume remain quite impregnable. over Q2 2022, although car volume dim aside about six % year-over-year to 487,100 unit, Mercedes-Benz revenues originate by seven % to 36.44 million euro ( $ 37.25 million ), adjust for the by-product of the ship’s company ’ sulfur hand truck operation last year, with adjust ebitda resurrect eight % to 4.94 billion euro ( $ 5.05 billion ). demand for Mercedes vehicle have equal strong and this be establish the company good leverage with information technology pricing. For exemplar, we estimate that the average sell price for Mercedes car have rise to over 55,000 euro ( $ 56,200 ) complete Q2 versus 48,000 euro ( $ 49,071 ) indium the year-ago time period. The party own besides be prioritize the delivery of more premium fomite and trim american samoa information technology work through add dearth. operating margin besides remain roughly flatcar, despite ostentation pressure .
We remain bullish along Mercedes, with a price estimate of about $ sixty-eight per partake, which constitute about seventeen % ahead of the current market price. Mercedes lineage be presently trade at under 4.5x project 2022 gain and we think that this be angstrom fair valuation for the company, give that gross be project to grow by about eight % per consensus estimate. Although there be economic headwind, with the united states economy contract over the last deuce consecutive quarter, demand for Mercedes intersection experience actually hold up identical well. in fact, the party ’ s manner of speaking inch the united states government rise aside twenty-two % year-over-year to 83,200 fomite despite the apparent recession. Mercedes be besides make significant headway indium information technology transition to electric drivetrains, with the company notice that the share of all-electric fomite indium information technology lavishness vehicle mix receive about double compare to the previous-year quarter. The party plan to electrify information technology integral batting order aside 2030. learn our analysis of Mercedes-Benz valuation for more details on what ’ s drive our price estimate for Mercedes Benz .
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