Stellantis - Valuation Review [Lite] (Sep 2025)

What’s inside (Sep 2025) + conclusion:

A concise, analyst-style 7-slide review built from our GAAP-based DCF and comparable multiples. Conclusion: the shares look too cheap for a scale, cash-generative OEM.

Slides included

• Cover (scope/date/sources)
• Thesis: what the business is; why today’s pricing looks low; key figures (EV, EV/Revenue, directional EV/E, margin set-up)
• Street/consensus view: revenue table + a dated read of the near-term path
• Valuation result: core inputs (discount rate, terminal growth, industrial net cash), DCF to equity value/share, variance vs price
• Financial outlook: recent & forward multiples (P/E, P/S, P/CF) alongside the revenue path
• Market expectations: what today’s valuation is implicitly assuming vs our read of the data
• Summary: verdict; what would change our view; catalysts/risks

Key assumptions shown

• GAAP net income drives the directional EV/E view (within-autos only)
• Discount rate built from base rate + size/quality overlays (we show 9%; 7% is our typical large-cap setting and would lift value further)
• Terminal (maturity) growth: −1% (policy)
• Cash, shares, and model date are disclosed on slide footers

Note on metrics

We sometimes show EV/E = EV ÷ GAAP Net Income. It’s non-standard (EV is pre-financing; NI is to equity) and is used directionally within sector only; for cross-company comparisons we prioritise EV/Revenue and the margin structure.

Policy

Educational research only. Not investment advice. 7-day refund if not useful.