Original-Research: Schaeffler AG (von Quirin Privatbank Kapitalmarktgeschäft): BUY
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Original-Research: Schaeffler AG - from Quirin Privatbank Kapitalmarktgeschäft
Classification of Quirin Privatbank Kapitalmarktgeschäft to Schaeffler AG
The growth path has been reduced, but it is still intact Despite the solid Q2 results, the downward revision of the 2028 targets announced on Friday (July 31) continues to reverberate. We consider Friday’s sell-off to have been excessive. Management re-based the 2028 mid-term targets alongside Q2 figures: Group sales cut to EUR 24-26bn (prior 27-29bn) and E-Mobility to EUR 6.25-7.25bn (prior 8.25-9bn), while the EBIT-margin and FCF corridors were confirmed – and the PTC (10.5-12.5%) and VLS (14-16%) corridors were even nudged up. The read-through is decisive: The equity story (2028) is still intact but has been re-based, not simply reconfirmed. By trimming sales ambition and holding - or raising - the margin corridors, management shifted the risk profile away from a market recovery and onto execution of the E-Mobility turnaround. Three of four divisions already deliver at or near target. If E-Mobility can sustain ~4-6pp of annual margin improvement (net of one-offs) over the next 6-8 quarters, the adjusted group EBIT corridor of 6-8% is operationally achievable. If the EV market stays soft and the order book keeps sliding, the lower half of every corridor is the realistic landing zone. We confirm our BUY rating with a lower PT of EUR 9.20 (9.80) based on our ROE/COE valuation approach. You can download the research here: SCHAEFFLER_AG_20260806 For additional information visit our website: https://research.quirinprivatbank.de/ Contact for questions: Quirin Privatbank AG Institutionelles Research Schillerstraße 20 60313 Frankfurt am Main research@quirinprivatbank.de https://research.quirinprivatbank.de/
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2378620 06.08.2026 CET/CEST
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
| The most important financial data at a glance | ||||||||
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026e | ||
| Sales1 | 12.600,00 | 13.852,00 | 15.809,00 | 16.313,00 | 18.188,00 | 23.492,00 | 23.400,00 | |
| EBITDA1,2 | 1.116,00 | 2.230,00 | 1.963,00 | 1.836,00 | 1.419,00 | 2.071,00 | 2.285,00 | |
| EBITDA-Margin3 | 8,86 | 16,10 | 12,42 | 11,26 | 7,80 | 8,82 | 9,77 | |
| EBIT1,4 | -143,00 | 1.264,00 | 974,00 | 834,00 | 294,00 | 295,00 | 500,00 | |
| EBIT-Margin5 | -1,14 | 9,13 | 6,16 | 5,11 | 1,62 | 1,26 | 2,14 | |
| Net Profit (Loss)1 | -415,00 | 775,00 | 585,00 | 335,00 | -605,00 | -392,00 | 140,00 | |
| Net-Margin6 | -3,29 | 5,60 | 3,70 | 2,05 | -3,33 | -1,67 | 0,60 | |
| Cashflow1,7 | 1.254,00 | 1.276,00 | 1.139,00 | 1.348,00 | 1.390,00 | 1.355,00 | 1.340,00 | |
| Earnings per share8 | -0,63 | 1,13 | 0,83 | 0,47 | -0,86 | -0,45 | 0,14 | |
| Dividend per share8 | 0,24 | 0,50 | 0,45 | 0,45 | 0,25 | 0,30 | 0,30 | |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: PricewaterhouseCoopers
All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.
| INVESTOR-INFORMATION | ||||||
| ©boersengefluester.de | ||||||
| Schaeffler | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| SHA010 | DE000SHA0100 | AG | 7.114,98 Mio € | 09.10.2015 | Halten | 8FXGHV7P+6R |
| PE 2027e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 17,51 | 9,41 | 1,86 | 18,41 | 2,72 | 5,25 | 0,30 |
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Dividend '2023 in € |
Dividend '2024 in € |
Dividend '2025e in € |
Div.-Yield '2025e in % |
| 0,45 | 0,25 | 0,30 | 4,14% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 23.04.2026 | 05.05.2026 | 05.08.2026 | 03.11.2026 | 03.03.2026 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -15,56% | -10,90% | -13,40% | +57,39% | -42,08% |
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