Mercedes-Benz - Public Comps and Valuation Multiples

Mercedes-Benz Overview

About Mercedes-Benz

Mercedes-Benz Group is a premium automotive original equipment manufacturer, selling around 2 million passenger cars, including its Chinese joint venture, and just under 400,000 vans per year. The company’s financial profile improved significantly following the spinoff of Daimler Truck in 2021. Unlike most automotive OEMs, Mercedes operates under its brand alone. In 2024, 14% of its passenger cars sold were top end (G Class, Maybach, AMG, S Class), 59% were core (C and E Class), and 27% entry (A and B Class). In volume terms, Asia and Europe are Mercedes’ largest markets, each at just under 40% of 2024 vehicle sales, followed by North America at 16%.

Founded

1886

HQ

Employees

175.3K+

Website

group.mercedes-benz.com

Sectors

Automakers
AutomotiveTech

Financials

LTM Revenue $162B

LTM EBITDA $20.1B

EV

$128B

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Mercedes-Benz Financials

As of August 2025, Mercedes-Benz reported last 12-month revenue of $162B and EBITDA of $20.1B.

In the same period, Mercedes-Benz generated $34.0B in LTM gross profit and $8.3B in net income.

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Mercedes-Benz P&L

In the most recent fiscal year, Mercedes-Benz reported revenue of $171B and EBITDA of $25.2B.

Mercedes-Benz expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$162B	XXX	$171B	XXX	XXX	XXX
Gross Profit	$34.0B	XXX	$33.5B	XXX	XXX	XXX
Gross Margin	21%	XXX	20%	XXX	XXX	XXX
EBITDA	$20.1B	XXX	$25.2B	XXX	XXX	XXX
EBITDA Margin	12%	XXX	15%	XXX	XXX	XXX
EBIT	$10.8B	XXX	$14.4B	XXX	XXX	XXX
EBIT Margin	7%	XXX	8%	XXX	XXX	XXX
Net Profit	$8.3B	XXX	$12.0B	XXX	XXX	XXX
Net Margin	5%	XXX	7%	XXX	XXX	XXX
Net Debt	XXX	XXX	$89.4B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Mercedes-Benz including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $162B. EBITDA for the last twelve months was $20.1B. In the most recent fiscal year, Mercedes-Benz achieved $171B in revenue and $25.2B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$162B	Analyst estimates available to subscribers	$171B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$34.0B	Analyst estimates available to subscribers	$33.5B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	21.0% gross margin	Analyst estimates available to subscribers	19.6% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$20.1B	Analyst estimates available to subscribers	$25.2B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	12.4% EBITDA margin	Analyst estimates available to subscribers	14.8% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$10.8B	Analyst estimates available to subscribers	$14.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	6.6% EBIT margin	Analyst estimates available to subscribers	8.4% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$8.3B	Analyst estimates available to subscribers	$12.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	5.1% net profit margin	Analyst estimates available to subscribers	7.0% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$89.4B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Mercedes-Benz

This financial data table provides comprehensive performance metrics for Mercedes-Benz, a company based in Germany. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Mercedes-Benz generated $162B in revenue over the last twelve months.
The company achieved $20.1B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $34.0B.
Net income over the last twelve months reached $8.3B.

Fiscal Year Performance

In the most recent fiscal year, Mercedes-Benz reported $171B in total revenue.
Fiscal year EBITDA was $25.2B.
The company maintained a gross profit margin of 19.6% in the most recent fiscal year.
EBITDA margin for the fiscal year was 14.8%.
Net profit margin reached 7.0% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Mercedes-Benz. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Mercedes-Benz Stock Performance

Mercedes-Benz has current market cap of EUR 49.4B (or $57.9B), and EV of EUR 109B (or $128B).

Market Cap Evolution

Mercedes-Benz Stock Data

As of September 18, 2025, Mercedes-Benz's stock price is EUR 51 (or $60).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$128B	$57.9B	XXX	XXX	XXX	XXX	$8.29

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Mercedes-Benz Valuation Multiples

Mercedes-Benz's trades at 0.7x EV/Revenue multiple, and 5.1x EV/EBITDA.

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Mercedes-Benz Financial Valuation Multiples

As of September 18, 2025, Mercedes-Benz has market cap of $57.9B and EV of $128B.

Equity research analysts estimate Mercedes-Benz's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Mercedes-Benz has a P/E ratio of 7.0x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$57.9B	XXX	$57.9B	XXX	XXX	XXX
EV (current)	$128B	XXX	$128B	XXX	XXX	XXX
EV/Revenue	0.8x	XXX	0.7x	XXX	XXX	XXX
EV/EBITDA	6.3x	XXX	5.1x	XXX	XXX	XXX
EV/EBIT	11.8x	XXX	8.9x	XXX	XXX	XXX
EV/Gross Profit	3.8x	XXX	n/a	XXX	XXX	XXX
P/E	7.0x	XXX	4.8x	XXX	XXX	XXX
EV/FCF	17.6x	XXX	12.0x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Mercedes-Benz Margins & Growth Rates

Mercedes-Benz's last 12 month revenue growth is -1%

Mercedes-Benz's revenue per employee in the last FY averaged $1.0M, while opex per employee averaged $0.1M for the same period.

Mercedes-Benz's rule of 40 is 17% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Mercedes-Benz's rule of X is 10% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Mercedes-Benz Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	-1%	XXX	-3%	XXX	XXX	XXX
EBITDA Margin	12%	XXX	15%	XXX	XXX	XXX
EBITDA Growth	-4%	XXX	-25%	XXX	XXX	XXX
Rule of 40	17%	XXX	14%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	10%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$1.0M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	7%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	4%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	11%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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