Rankings Autos & parts Stellantis
Stellantis
53
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
- Margin−12
- Capital allocation−6
- Negative FCF−4
Strengths
- Recovery in North America+2
- Liquidity+1
How the score is built
From 100 to 53, 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
- 4.18 EUR
- Median analyst target
- 5.00 EUR
- Upside to median
- +19.7%
- Analysts
- 21
- Target range
- 3.50 – 10.00 EUR
- 52-week change
- −52%
- P/E (trailing)
- n/a
- Forward P/E
- 5.0
- PEG
- n/a
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−23 of −30
- −12MarginAdjusted operating margin only 2.1% in H1 2026 (North America 1.6%, Europe −0.3%) and guidance 'low single digit' for 2026; reported operating margin −2.6% and gross margin 6.6% TTM vs about 20% and operating margins of 11–12% in 2021–23.
- −6Capital allocationThe reset in February 2026 cost about €22.2bn in costs (cancelled EV programmes and restructuring), because the company overestimated the EV transition; it came after dividends with an 85% payout ratio and buybacks in 2024. The 2026 dividend is cancelled, and the board has approved hybrid bonds of up to €5bn.
- −3Quality of growthRevenue rose 10% in H1 2026 from a low starting point (€153.5bn in 2025 vs €189.5bn in 2023); market share in EU30 fell 0.8 percentage points to 16.0%, and European revenue rose only 1%.
- −2Future segment and portfolioThe EV strategy has been shelved, Maserati has shrunk from €2.3bn in revenue (2023) to €0.7bn (2025), and China/Asia account for only about €1.9bn of €161bn in revenue.
Price
Today's multiples against the company's own history and its peers. · 2 findings−6 of −35
- −2Multiples vs own historyForward P/E 5.0 vs 2.9–6.9 in 2021–25 (median 4.4) – mid-range – on an EPS forecast that requires a marked margin improvement; P/B 0.19 is the lowest in the period (0.44–0.93), but equity has been eroded by write-downs. Renault trades at forward 3.95.
- −4Negative FCFFCF was −€11.5bn TTM and −€12.6bn in 2025; industrial FCF was −€921m in H1 2026 and includes about €2bn in payments for the 2025 costs this year – positive industrial FCF is not expected until 2027.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 5 findings−12 of −35
- −3Downgrades and product pipelineBerenberg downgraded to Hold and cut the price target from EUR 7.80 to 5.10 (weak earnings visibility, overcapacity), and Morgan Stanley downgraded to Underweight due to a weak product pipeline and weaker cash flow; the share fell about 18–20% from the end of August to the end of September.
- −3US tariffsThe net tariff cost for 2026 is estimated at €1.0–1.2bn – about as much as H1's total adjusted operating profit of €1.7bn; the H1 figure of €0.3bn was helped by an IEEPA tariff refund of €0.4bn.
- −2Debt and refinancingGross debt has risen from EUR 29.5bn (2023) to 52.1bn as of 30/6-2026, and cash has fallen from 47.2 to EUR 32.0bn; Morgan Stanley highlights refinancing risk relative to the low market value of about EUR 11.7bn.
- −2Recurring special itemsH1 2026 still included restructuring costs of €482m, €196m for cancelled programmes and €106m for the Takata airbag recall.
- −2Labour market (Canada)The trade union Unifor is in deadlock with Stellantis over the closure and sale of the Brampton plant and uncertainty about Windsor and Etobicoke; the collective agreement expired on 20 September 2026.
Plus
Only documented strengths. · 2 findings+3 of +15
- +2Recovery in North AmericaNet income of €670m in H1 2026 vs a loss of €2.3bn a year earlier; deliveries in North America rose 27%, revenue 21%, and the US market share rose 0.4 percentage points to 7.4%.
- +1LiquidityIndustrial available liquidity of €44.1bn (27% of revenue, within the 25–30% target).
Caveats
What the score does not capture, or where the data is weak.
The Milan listing (STLAM). Cyclical = yes (cars, consistent with BMW, Mercedes, VW and Renault). Stockanalysis' net debt of €20.1bn and gross debt of €52.1bn include the financing companies; the industrial net financial position could not be determined unambiguously in the half-year statement and is therefore given neither a plus nor an extra deduction. The TTM net loss of €19.5bn stems mainly from the H2 2025 reset (about €22.2bn in costs); H1 2026 delivered net income of €670m. Forward P/E of 5.0 is based on adjusted 2026E EPS of €0.58 and an expected rise to €1.05 in 2027, which requires a marked margin improvement. No dividend in 2026. Exor (about 15%), the Peugeot family and the French state (Bpifrance) are major shareholders – mentioned, not scored. Analyst price targets continue to fall (Berenberg and Morgan Stanley in September). Q3 is due 28/10.
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