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companies tracked
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cumulative enterprise value
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median EV/NTM revenue multiple
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median NTM/LTM revenue growth
This chart shows the weighted market cap evolution over time, indexed to 0% at the beginning of the period
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Data as of August 23, 2025. Index data powered by FactSet and Morningstar, S&P 500 data sourced from Yahoo Finance.
This chart shows the weighted median evolution over time of key valuation metrics
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This chart shows the regression relationship between valuation metrics across companies in the index
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Data as of August 23, 2025. Companies with EV multiples above 50x and y-axis values above 300% are considered non-meaningful and excluded from calculation.
This chart shows company rankings by selected metric within the index
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Data as of August 23, 2025. Companies with EV multiples above 50x are considered non-meaningful and excluded from calculation.
Compare key metrics between companies in the index
| Comp 1 | Comp 2 | Comp 3 |
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Data as of August 23, 2025.
This chart shows the cumulative sum of selected metrics across all companies in the index over time
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Similar to NASDAQ 100 Index, 🚙 Multiples Automakers Index employs a modified market capitalization weighting scheme.
The weight process uses company-level weightss, which are derived using company enterprise value.
Company weights are evaluated based on two rules:
No company’s weight may exceed 24%.
The aggregate weight of the companies whose weights exceed 4.5% may not exceed 48%.
If neither rule is 'violated', then no adjustments are made. Only in cases where either or both of the rules are 'violated', weight adjustments are made according to a two-stage adjustment process.
If no company’s initial weight exceeds 24% of the Index, initial weights are used as Rule 1 weights without adjustment. Otherwise, initial weights are adjusted such that no company’s weight may exceed 20% of the Index.
If the aggregate weight of the companies whose Rule 1 weights exceeds 4.5% and does not exceed 48%, Rule 1 weights are used as the final weights. Otherwise, Rule 1 weights are adjusted such that:
If the two-stage rule process results in a 'violation' of the weighting rules as previously detailed, then the process is repeated until the company weights meet the rule system.
| Company | HQ | Stock Price | 1Y Perf. | Market Cap | EV/Revenue (LTM) | EV/Revenue (NTM) | Revenue Growth NTM/LTM | Gross Margin (NTM) | EBITDA Margin (NTM) | FCF Margin (NTM) | Rule of 40 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Tesla | United States of America | USD 340 | +32.8% | $1096684.876748M | 11.4x | 10.4x | 10% | 17% | 14% | 4% | 24% |
| Toyota | Japan | JPY 2943 | -8.6% | $258463.45185535523M | 1.3x | 1.2x | 2% | 20% | 12% | 3% | 15% |
| Volkswagen | Germany | EUR 102 | -12.0% | $59593.62276542751M | 0.5x | 0.5x | 1% | 22% | 14% | 2% | 15% |
| Ford | United States of America | USD 12 | +2.3% | $46723.559886M | 0.9x | 0.9x | -2% | 14% | 7% | 2% | 5% |
| General Motors | United States of America | USD 58 | +20.4% | $55572.781244M | 0.9x | 0.9x | -2% | 18% | 10% | 5% | 7% |
| BMW | Germany | EUR 90 | -2.3% | $63936.58948454502M | 0.8x | 0.8x | 1% | 22% | 14% | 4% | 15% |
| Hyundai Motor | South Korea | KRW 208608 | -12.3% | $38741.126091695674M | 1.0x | 1.0x | 4% | 19% | 10% | 1% | 14% |
| Mercedes-Benz | Germany | EUR 54 | -18.1% | $60592.171228431296M | 0.8x | 0.8x | -2% | 22% | 12% | 4% | 10% |
| BYD | China | CNY 108 | +35.2% | $137596.05924850365M | 1.0x | 0.8x | 19% | 20% | 14% | 4% | 32% |
| Ferrari | Italy | EUR 400 | +1.3% | $82862.68118830297M | 10.5x | 9.7x | 9% | 51% | 39% | 19% | 47% |
| Volvo Group | Sweden | SEK 293 | +2.5% | $62067.78735916398M | 1.6x | 1.6x | 1% | 25% | 16% | 7% | 16% |
| Renault | France | EUR 33 | -27.1% | $11079.037660542039M | 1.1x | 1.0x | 2% | 20% | 7% | 3% | 2% |
| PACCAR | United States of America | USD 102 | +0.1% | $53297.994288M | 2.1x | 2.1x | 0% | 18% | 12% | 9% | 12% |
| Mahindra & Mahindra | India | INR 3403 | +10.2% | $46768.41466175284M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Daimler Truck | Germany | EUR 40 | +19.8% | $35615.765112688954M | 0.9x | 0.9x | 3% | 21% | 11% | 4% | 13% |
| Porsche | Germany | EUR 47 | -36.0% | $49243.914601M | 1.2x | 1.2x | -1% | 23% | 18% | 5% | 15% |
| Nissan | Japan | JPY 352 | -33.9% | $8280.923372558187M | 0.6x | 0.6x | -2% | 10% | 4% | -4% | 1% |
| Maruti Suzuki India | India | INR 14349 | -3.9% | $51680.0984778354M | 2.8x | 2.5x | 11% | 28% | 12% | 5% | 24% |
| Honda | Japan | JPY 1679 | -4.7% | $45168.00785349652M | 0.3x | 0.3x | -1% | 21% | 7% | 1% | 7% |
| Toyota Industries | Japan | JPY 16360 | +26.9% | $33124.039374291104M | 1.5x | 1.5x | 2% | 23% | 9% | 4% | 11% |
| Stellantis | Italy | EUR 8 | -49.6% | $27825.11378576838M | 0.2x | 0.2x | 2% | 9% | 8% | 0% | 9% |
| Great Wall Motor | Hong Kong | HKD 25 | -3.3% | $27850.29426272391M | 1.0x | 0.9x | 14% | 18% | 10% | 7% | 24% |
| Tata Motors | India | INR 680 | -33.6% | $28692.321698359356M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Bajaj Auto | India | INR 8677 | -17.1% | $27750.82129206925M | 4.6x | 4.1x | 12% | 29% | 20% | 14% | 33% |
| Geely Auto | Hong Kong | HKD 20 | +122.1% | $25789.477851439733M | 0.6x | 0.5x | 26% | 16% | 7% | 7% | 33% |
| Seres Group | China | CNY 134 | +59.4% | $30470.514951841662M | 1.1x | 0.9x | 22% | 26% | 9% | 8% | 30% |
| Suzuki | Japan | JPY 1983 | -5.3% | $25772.63500231529M | 0.6x | 0.6x | 3% | 28% | 14% | 4% | 18% |
| SAIC Motor | China | CNY 20 | +17.0% | $32577.64370989293M | 0.3x | 0.3x | 4% | 9% | 5% | 2% | 8% |
| XPeng | Hong Kong | HKD 92 | +121.3% | $22378.40341449113M | 2.4x | 1.5x | 55% | 17% | 2% | 6% | 55% |
| Hyundai Motors India | India | INR 2367 | NaN% | $22028.54445519739M | 2.6x | 2.4x | 9% | 27% | 13% | 4% | 22% |
| TVS Motor | India | INR 3295 | +10.7% | $17915.685583324455M | 4.7x | 4.1x | 14% | 29% | 13% | 6% | 28% |
| Porsche SE | Germany | EUR 37 | -14.5% | $13286.098629999999M | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| Eicher Motors | India | INR 5925 | +10.2% | $18614.795350687426M | 8.1x | 7.2x | 12% | 42% | 25% | 20% | 39% |
| Kia | South Korea | KRW 104800 | -8.7% | $29437.347814012268M | 0.2x | 0.2x | 4% | 20% | 12% | 6% | 16% |
| Rivian | United States of America | USD 13 | -21.6% | $15883.851256M | 2.8x | 2.3x | 23% | 0% | -30% | -48% | -16% |
| NIO | Hong Kong | HKD 46 | -1.8% | $13152.87045684621M | 1.3x | 1.0x | 34% | 11% | -5% | -6% | 22% |
| Traton | Germany | EUR 31 | +5.8% | $18277.602799999997M | 0.3x | 0.3x | 2% | 23% | 13% | 4% | 14% |
| Weichai Power | China | CNY 16 | +13.8% | $18889.552598332506M | 0.4x | 0.4x | 7% | 19% | 13% | 7% | 19% |
| Ashok Leyland | India | INR 131 | -5.8% | $8813.551255253115M | 2.9x | 2.7x | 7% | 29% | 13% | 8% | 22% |
| Isuzu | Japan | JPY 1995 | -5.8% | $9451.357938542247M | 0.5x | 0.5x | 6% | 18% | 9% | 4% | 16% |
| Ford Otosan | Turkey | TRY 115 | -4.3% | $9797.987446229481M | 0.6x | 0.5x | 32% | NaN% | 8% | 2% | 39% |
| Zeekr Global | United States of America | USD 31 | +66.3% | $7867.066752M | 0.8x | 0.5x | 44% | NaN% | 3% | NaN% | 43% |
| Li Auto | Hong Kong | HKD 92 | +35.3% | $23925.127479928768M | 0.5x | 0.4x | 24% | 19% | 8% | 8% | 31% |
| Yamaha Motor | Japan | JPY 1085 | -22.7% | $7088.635964569337M | 0.6x | 0.6x | 3% | 32% | 10% | 0% | 13% |
| Hero MotoCorp | India | INR 4998 | -22.4% | $11454.614905357974M | 2.2x | 2.1x | 8% | 33% | 14% | 10% | 23% |
| VinFast | United States of America | USD 3 | -13.2% | $8115.679985M | 3.9x | 2.6x | 48% | -7% | -26% | NaN% | 7% |
| Leapmotor Technology | Hong Kong | HKD 71 | +142.6% | $12148.015396196753M | 1.3x | 0.8x | 66% | 14% | 4% | 16% | 68% |
| Iveco Group | Italy | EUR 18 | +91.1% | $5659.956391762679M | 0.5x | 0.5x | 3% | 12% | 11% | 3% | 14% |
| Harley-Davidson | United States of America | USD 29 | -35.1% | $3488.566421M | 2.2x | 2.2x | 0% | 30% | 14% | 40% | 16% |
| Chongqing Changan | China | CNY 12 | -10.9% | $16181.04024981625M | 0.3x | 0.3x | 15% | 17% | 7% | NaN% | 22% |
| Guangzhou Automobile Group | China | CNY 7 | -4.9% | $9347.31384755146M | 0.5x | 0.5x | 5% | -5% | 6% | -6% | 10% |
| BAIC BluePark New Energy | China | CNY 9 | -15.3% | $7280.349219472458M | 2.0x | 1.2x | 72% | -4% | 1% | -17% | 70% |
| Polestar | United States of America | USD 1 | +45.5% | $2310.02824M | 2.4x | 1.6x | 48% | NaN% | NaN% | NaN% | n/a |
| Thor Industries | United States of America | USD 112 | -14.3% | $5903.274638M | 0.7x | 0.7x | 3% | 14% | 6% | 3% | 10% |
| Lucid | United States of America | USD 2 | -30.1% | $6237.164669M | 5.4x | 2.9x | 83% | -34% | -94% | -156% | -100% |
| Polaris | United States of America | USD 57 | -36.5% | $3213.23829M | 0.7x | 0.7x | 1% | 19% | 6% | 2% | 6% |
| Subaru | Japan | JPY 2966 | -6.9% | $14615.163790178713M | 0.1x | 0.1x | 1% | 17% | 7% | 1% | 9% |
| Volvo Cars | Sweden | SEK 20 | -38.1% | $6147.976521174684M | 0.1x | 0.1x | -2% | 18% | 11% | 0% | 8% |
| Hino Motors | Japan | JPY 394 | -24.7% | $1524.0294085895796M | 0.3x | 0.3x | -2% | 19% | 7% | 3% | 1% |
| Mitsubishi Motors | Japan | JPY 405 | -9.0% | $3653.6569724772903M | 0.2x | 0.2x | 1% | 15% | 6% | 0% | 7% |
| Aston Martin Lagonda | United Kingdom of Great Britain and Northern Ireland | GBP 1 | -54.9% | $1033.51990497431M | 1.3x | 1.2x | 8% | 40% | 23% | 5% | 28% |
| Lotus Technology | United States of America | USD 2 | -64.2% | $1493.151743M | 2.5x | 1.4x | 82% | NaN% | -8% | NaN% | 54% |
| REV Group | United States of America | USD 52 | +69.8% | $2552.58943M | 1.1x | 1.0x | 7% | 16% | 10% | 6% | 16% |
| PIERER Mobility | Switzerland | CHF 16 | -43.4% | $685.2176532521624M | 1.0x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Mazda | Japan | JPY 1006 | -33.6% | $4277.546307479786M | 0.1x | 0.1x | -1% | 19% | 3% | -1% | 2% |
| Marcopolo | Brazil | BRL 8 | +37.6% | $1721.667816367516M | 1.2x | 1.1x | 9% | 21% | 18% | 9% | 27% |
| WeRide | United States of America | USD 10 | NaN% | $2708.715178M | 24.6x | 11.5x | 114% | 27% | -90% | -83% | -74% |
| Blue Bird Corp. | United States of America | USD 55 | -14.1% | $1753.766327M | 1.2x | 1.1x | 5% | 21% | 14% | 4% | 19% |
| Piaggio | Italy | EUR 2 | -25.5% | $810.5031310119599M | 0.7x | 0.7x | 1% | NaN% | 17% | 5% | 18% |
| Immsi | Italy | EUR 1 | -10.9% | $199.692274533M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Sanlorenzo | Italy | EUR 31 | -21.4% | $1265.92348336746M | 1.1x | 1.1x | 4% | NaN% | 18% | 10% | 22% |
| Ferretti | Italy | EUR 3 | -5.3% | $1078.53695793044M | 0.7x | 0.7x | 3% | 39% | 17% | 11% | 19% |
| Chijet Motors | United States of America | USD 1 | -20.6% | $45.713537M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Lion Electric | United States of America | USD 0 | -98.6% | $0.022621M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| NWTN | United States of America | USD 1 | +40.0% | $324.341659M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Toyota Caetano Portugal | Portugal | EUR 6 | +1.8% | $239.79192999999998M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| KABE Group | Sweden | SEK 249 | -30.2% | $232.65055190140984M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Next e GO | United States of America | USD 0 | +0.0% | $0.009438M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Novamarine | Italy | EUR 6 | NaN% | $79.83068164499998M | 2.8x | 2.2x | 28% | NaN% | 23% | 9% | 50% |
| Ebusco Holding | Netherlands | EUR 0 | -86.7% | $27.490963813759997M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Nimbus Group | Sweden | SEK 15 | -40.9% | $64.3029002000389M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Pininfarina | Italy | EUR 1 | +5.0% | $84.03197212133999M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Carlo Gavazzi Holding | Switzerland | CHF 170 | -30.2% | $149.39015533435992M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Workhorse | United States of America | USD 1 | -90.5% | $22.291235M | 6.4x | 4.6x | 38% | -74% | -155% | NaN% | -166% |
| Xos Trucks | United States of America | USD 3 | -49.7% | $27.375336M | 1.1x | 0.9x | 18% | 15% | -20% | NaN% | -10% |
| ECD Automotive Design | United States of America | USD 0 | -87.0% | $7.733539M | 1.2x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Bellini Nautica | Italy | EUR 3 | -2.9% | $20.742408372M | 1.1x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Tenax International | Italy | EUR 2 | -34.3% | $8.512149027M | 0.7x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Estrima | Italy | EUR 0 | -39.9% | $9.400311627659999M | 0.4x | 0.4x | 1% | NaN% | -1% | NaN% | -2% |
| Garin | Poland | PLN 3 | +191.9% | $15.034965034965035M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Clean Motion | Sweden | SEK 0 | -41.2% | $4.781647808778202M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| ELLWEE | Sweden | SEK 5 | +31.7% | $0.6505973600689889M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Zoomability Int | Sweden | SEK 1 | +14.1% | $2.303520601510642M | 3.4x | 2.2x | 57% | NaN% | -32% | NaN% | -4% |
| Triggo | Poland | PLN 1 | -30.3% | $1.8623131555944057M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Nilsson Special Vehicles | Sweden | SEK 2 | -63.0% | $1.0252367335092731M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
Stock prices as of August 23, 2025. Rule of 40 and revenue per FTE data is based on the last fiscal year. Financial data powered by Morningstar and FactSet.
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Explore indexGet access to always up-to-date, precisely categorized 70K+ public and private valuation multiples, across tech and beyond.
