Porsche Automobil Holding: Porsche AG Sales Decline, Yet It Is A Positive Signal

Financial Serenity1.48K FollowersFollow5ShareSavePlay(11min)CommentsSummaryPorsche Automobil Holding SE trades at a nearly 31-35% NAV discount, reflecting market concerns over core holding margin contractions.Recent Porsche AG U.S. retail sales show a headline -12.5% decline. This could lower the holding's profitability, therefore widening the discount.In my opinion, this is a partial view: the real organic drop is (IMO) closer to -5%, with a positive mix shift toward high-margin 911 models.In my opinion, it is a natural reaction, already announced by the Supervisory Board in response to POAHY’s U-turn on EV, so the thesis and rating remain unchanged. Brandon Woyshnis/iStock Editorial via Getty Images When I analyze holdings, the first metric I compare is NAV relative to price. And on POAHY today, we are dealing with a discount of almost 35%. A wide discount, worth taking a closerThis article was written byFinancial Serenity1.48K FollowersFollowFinancial Serenity is a financial analysis and quantitative research column with a particular focus on the asset management sector. It is actively managed by Tommaso Scarpellini, a seasoned financial researcher and data analyst with proven experience in banking and financial analytics platforms. This initiative aims to provide an in-depth analysis of the dynamics driving the asset management market.

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