Rankings Autos & parts Schaeffler
Schaeffler
59
15070100
A view of the same findings, not a new score. How it works
A good business with a real question mark: the price, a crack, or both.
Biggest deductions
- Multiples vs own history and peers−12
- Margin−9
- Debt−6
Strengths
- Order (humanoids)+2
- Rating outlook+1
- Margin improvement+1
How the score is built
From 100 to 59, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 3 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 5.90 EUR
- Median analyst target
- 8.50 EUR
- Upside to median
- +44.1%
- Analysts
- 11
- Target range
- 6.50 – 12.00 EUR
- 52-week change
- −15%
- P/E (trailing)
- n/a
- Forward P/E
- 12.6
- PEG
- 0.24
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 4 findings−20 of −30
- −9MarginThe IFRS operating margin is 0.8% TTM, and net profit is −€374m TTM (+€93m in H1 2026). The EBIT margin before special items is 4.7% in H1 with full-year guidance of 3.5–5.5%. ROIC is 2.2% vs a WACC of 7.1%; it is counted here, not again.
- −4Quality of growthH1 revenue was €11.67bn (+0.4% currency-adjusted), and 2026 guidance is €22.5–24.5bn (−4.3% to +4.3%). Analysts expect +0.3% in 2026 and +3.7% in 2027. The 29% jump in 2025 came solely from the Vitesco merger.
- −5Future segmentE-Mobility has an EBIT margin before special items of −15.6% (−19.3% a year earlier), and earnings come from the old segments: Vehicle Lifetime Solutions (15.5%) and Powertrain & Chassis (11.1%, falling). Humanoid actuators are still insignificant in revenue of €23bn.
- −2Capital allocationThe dividend (€283m TTM, 4.6% yield) exceeds FCF of €214m while net debt rises (net borrowing €600m TTM). The Vitesco merger lifted revenue but cut ROIC from 12.4% (2022) to 2.2%.
Price
Today's multiples against the company's own history and its peers. · 1 finding−12 of −35
- −12Multiples vs own history and peersForward P/E 13.1 vs 4.8–6.2 in 2021–24 (13.5 in 2025); EV/EBITDA 7.1 vs 3.4–5.2 in 2021–24; P/B 2.05 vs 0.95–1.5; P/FCF 28.5 vs 7.6–10.3; EV/EBIT 63. P/S of 0.26 looks cheap, but against its own history the stock is expensive, and the price assumes a margin recovery. (The old list called the stock 'cheap', which is wrong against its own history.)
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 4 findings−14 of −35
- −6DebtNet debt is €5.5bn (leverage 2.4x on the company's definition, 3.8x net debt/EBITDA at stockanalysis vs 1.1 in 2021). Debt/equity is 2.87, interest cover on IFRS EBIT 0.6x, and the Fitch rating is BB+ (below investment grade).
- −3Cash flowFCF before M&A was −€300m in H1 2026 (−€128m a year earlier) because of restructuring and integration payments (€236m of costs). Full-year guidance is only €100–300m and does not cover the dividend.
- −3Macro (European auto industry)European car production is weak. Sister company Aumovio (formerly Continental Automotive) cut its forecast in the same reporting season, and Schaeffler itself guides revenue between −4% and +4%.
- −2GovernanceOnly about 196m of 945m shares (21%) are free float, and the Schaeffler family has control. Minority shareholders have limited influence, and the dividend is above FCF.
Plus
Only documented strengths. · 3 findings+4 of +15
- +2Order (humanoids)A 5-year agreement makes Schaeffler the preferred supplier of over 50% of Humanoid's joint-actuator needs (a seven-figure number through 2031). The deal is reciprocal, because Schaeffler also leases a four-figure number of robots from Humanoid. No amounts are disclosed, and the customer is a start-up.
- +1Rating outlookOn 14/9/2026 Fitch changed the outlook on BB+ from stable to positive on expected better debt ratios.
- +1Margin improvementThe EBIT margin before special items rose from 4.1% to 4.7% in H1, and Bearings & Industrial Solutions improved from 7.8% to 9.0%. The full-year forecast is confirmed.
Caveats
What the score does not capture, or where the data is weak.
The share is not cheap against its own history: forward P/E 13 and EV/EBITDA 7.1 are about double the 2021–24 level, so the market has already priced in a recovery. Net debt is €5.5bn, and FCF before M&A was −€300m in H1. The dividend exceeds FCF. The humanoid deal is mutual (Schaeffler also buys robots) and has no disclosed amounts. Q3 comes 3/11.
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