# AUTO1 Group SE (AG1.XETRA)

Canonical: https://gigainvestors.com/s/AG1.XETRA

Analysis as of: 2026-10-16T07:38:03.572Z. Financial observations: FY2016–FY2025.

Listing currency: EUR. Reporting currency: EUR.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: EUR 17.84 per share; close as of 2026-10-15.

## Checklist

### understandable: fail

- 2 revenue declines in the last 10 years (informational)

- more than 2 net loss years

- negative average operating margin

- operating margin variation exceeds 0.35

- Financial history: 10 years

- Years with declining revenue: 2

- Years with a net loss: 8

- Operating margin variation: 0.83×

Chart: Operating margin; fiscal year observations.

- FY2016: -0.06×

- FY2017: -0.03×

- FY2018: -0.04×

- FY2019: -0.03×

- FY2020: -0.03×

- FY2021: -0.03×

- FY2022: -0.03×

- FY2023: -0.02×

- FY2024: 0.01×

- FY2025: 0.01×

### moat: fail

- ROIC median below threshold

- ROIC worst years below threshold (more than 1 bad year allowed)

- ROIC, median of available years: -20.4%

- ROIC, second-lowest year: -38.9%

- Typical minus recent gross margin: -2.2 pp

- Typical gross margin (annual median): 9.4%

- Recent gross margin (lower of latest and 3-year median): 11.6%

- Years with nonpositive capital: 0

- Capital spending / revenue: 0.3%

- ROIC including acquisitions, ten-year median: -33.9%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2016: -38.9%

- FY2017: -18.7%

- FY2018: -41.0%

- FY2019: -27.9%

- FY2020: -27.5%

- FY2021: -19.7%

- FY2022: -21.2%

- FY2023: -9.7%

- FY2024: 2.6%

- FY2025: 5.4%

### economics: fail

- owner earnings cash conversion below threshold

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: EUR -638M

- Net income, five-year total: EUR -638M

- Return on incremental invested capital: 15.5%

- Working capital / revenue, annual change: 0.7 pp

- Working capital / revenue, change between three-year averages: 4.2 pp

- Working capital / revenue, final three-year average: 13.1%

Chart: Owner earnings · five years; fiscal year observations.

- FY2021: EUR -385M

- FY2022: EUR -261M

- FY2023: EUR -111M

- FY2024: EUR 27M

- FY2025: EUR 92M

### management: pass

- buybacks unrelated to price (informational)

- ROIC first 3 years vs last 3 years: -38.9% vs 2.6%

- Per-share earnings: -0.48 to 0.10 (three-year endpoint medians)

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 5-year annual growth: 2.4%

- Diluted shares, 5-year annual growth: 2.4%

- Per-share value change: EUR 0.57

- Per-share value, starting three-year median: EUR -0.48

- Per-share value, ending three-year median: EUR 0.10

- Buyback history: 0 years

- Debt-funded buybacks: No

- Acquisition spending: EUR 21M

- Cumulative net income, 10 years: EUR -1.2B

- ROIC, first three-year median: -38.9%

- ROIC, last three-year median: 2.6%

Chart: Earnings per share; fiscal year observations.

- FY2016: EUR -0.48

- FY2017: EUR -0.33

- FY2018: EUR -0.63

- FY2019: EUR -0.57

- FY2020: EUR -0.72

- FY2021: EUR -1.74

- FY2022: EUR -1.15

- FY2023: EUR -0.54

- FY2024: EUR 0.10

- FY2025: EUR 0.35

### accounting: fail

- Sloan accruals exceed 10%

- earnings not backed by cash

- Sloan accruals: 18.8%

- Receivables to sales index (DSRI): 1.17×

- Restructuring years, last five: 0

- Earnings backed by cash: No

- Operating cash / earnings: -5.94×

- Accounting red flags: 1

- Goodwill and intangibles / equity: 0.03×

Chart: Sloan accruals; fiscal year observations.

- FY2016: 6.4%

- FY2017: 16.6%

- FY2018: -10.4%

- FY2019: 2.8%

- FY2020: -36.3%

- FY2021: 5.7%

- FY2022: 8.6%

- FY2023: -3.6%

- FY2024: 10.9%

- FY2025: 18.8%

## Holders

## Price story

Down 48% since Oct 2021 · sales +30.3%

Story as of 2026-10-16T10:00:09.712Z; price observation 2026-10-15.

### Sales · FY2024–2025

sales +30.3%; source https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/; observed 2026-10-16.

- FY2016: EUR 1.5B 

- FY2017: EUR 2.2B 

- FY2018: EUR 2.9B 

- FY2019: EUR 3.5B 

- FY2020: EUR 2.8B 

- FY2021: EUR 4.8B 

- FY2022: EUR 6.5B 

- FY2023: EUR 5.5B 

- FY2024: EUR 6.3B 

- FY2025: EUR 8.2B 

### Gross margin · FY2025

gross margin 12.1%; source https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/; observed 2026-10-16.

- FY2016: 7.7% 

- FY2017: 9.1% 

- FY2018: 8.5% 

- FY2019: 9.9% 

- FY2020: 10.1% 

- FY2021: 9.0% 

- FY2022: 7.5% 

- FY2023: 9.7% 

- FY2024: 11.6% 

- FY2025: 12.1% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in auto & truck dealerships; annual sales are EUR 8.2 billion.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:38:03.572Z); FY2025: revenue 8172616000; grossProfit 990640000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); AG1.XETRA: AUTO1 Group SE, a technology company, operates a digital automotive platform for buying and selling used cars online in Germany, France, Spain, Italy, and internationally. The company operates in two segments, Merchant and Retail. It is involved in the operation of AUTO1.com platform for the sale of used cars to commercial dealers; Autohero.com for the sale of used cars to private customers; and wirkaufendeinauto.de, an online platform to sell used cars to AUTO1. The company was founded in 2012 and is based in Berlin, Germany.

### Why customers stay

Margins ranged from 9.7% to 12.1% during 2023–25; it lost 20.4% on its capital.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:38:03.572Z); FY2023: grossProfit / revenue = 9.7%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:38:03.572Z); FY2024: grossProfit / revenue = 11.6%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:38:03.572Z); FY2025: grossProfit / revenue = 12.1%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:38:03.572Z); 10-year return on capital observations [[2016,-0.3887464617207557],[2017,-0.18666111481672976],[2018,-0.40952067123942126],[2019,-0.2786368319543653],[2020,-0.27464105291145974],[2021,-0.1966484092763081],[2022,-0.21213296705783968],[2023,-0.09658851966778464],[2024,0.025657677467500896],[2025,0.05383184284688016]]; median -0.2043906881670739. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 1 of 10 years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:38:03.572Z); FY2020: growth capex 0; upkeep 4171000; owner earnings 37270200. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:38:03.572Z); FY2024: growth capex 0; upkeep 20250000; owner earnings 27432600. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:38:03.572Z); FY2025: growth capex 0; upkeep 22289000; owner earnings 92078600. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:38:03.572Z); Dividend observations: [[2016,0],[2017,0],[2018,315000],[2019,0],[2020,0],[2021,0],[2022,0],[2023,0],[2024,0],[2025,0]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own 28.1% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); AG1.XETRA SharesStats.PercentInsiders = 28.15 percentage points; cache date 2026-10-16.

### What the price says

The price is 0.5 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:38:03.572Z); Closing price 17.84 EUR; reporting-to-trading FX 1; FY2025 annual sales per share 36.394718443143105; price multiple 0.490181014255411. FY2025 cash earnings/share 0.41004920843445924. Closing-price date 2026-10-15.

## Monthly share-price history (EUR per share)

- 2021-02: EUR 46.00 per share

- 2021-03: EUR 48.35 per share

- 2021-04: EUR 47.00 per share

- 2021-05: EUR 43.91 per share

- 2021-06: EUR 37.05 per share

- 2021-07: EUR 41.26 per share

- 2021-08: EUR 36.85 per share

- 2021-09: EUR 31.57 per share

- 2021-10: EUR 34.00 per share

- 2021-11: EUR 24.80 per share

- 2021-12: EUR 19.44 per share

- 2022-01: EUR 15.38 per share

- 2022-02: EUR 12.92 per share

- 2022-03: EUR 10.34 per share

- 2022-04: EUR 10.03 per share

- 2022-05: EUR 9.99 per share

- 2022-06: EUR 6.99 per share

- 2022-07: EUR 8.39 per share

- 2022-08: EUR 10.46 per share

- 2022-09: EUR 6.47 per share

- 2022-10: EUR 6.82 per share

- 2022-11: EUR 8.25 per share

- 2022-12: EUR 7.80 per share

- 2023-01: EUR 7.40 per share

- 2023-02: EUR 7.21 per share

- 2023-03: EUR 6.52 per share

- 2023-04: EUR 7.13 per share

- 2023-05: EUR 8.02 per share

- 2023-06: EUR 8.50 per share

- 2023-07: EUR 9.80 per share

- 2023-08: EUR 7.74 per share

- 2023-09: EUR 6.06 per share

- 2023-10: EUR 5.54 per share

- 2023-11: EUR 5.78 per share

- 2023-12: EUR 6.49 per share

- 2024-01: EUR 3.90 per share

- 2024-02: EUR 3.47 per share

- 2024-03: EUR 4.38 per share

- 2024-04: EUR 4.78 per share

- 2024-05: EUR 6.97 per share

- 2024-06: EUR 6.09 per share

- 2024-07: EUR 7.80 per share

- 2024-08: EUR 9.26 per share

- 2024-09: EUR 10.15 per share

- 2024-10: EUR 9.40 per share

- 2024-11: EUR 13.11 per share

- 2024-12: EUR 15.60 per share

- 2025-01: EUR 18.80 per share

- 2025-02: EUR 23.20 per share

- 2025-03: EUR 20.30 per share

- 2025-04: EUR 21.06 per share

- 2025-05: EUR 23.60 per share

- 2025-06: EUR 27.36 per share

- 2025-07: EUR 26.50 per share

- 2025-08: EUR 28.90 per share

- 2025-09: EUR 29.00 per share

- 2025-10: EUR 30.44 per share

- 2025-11: EUR 24.24 per share

- 2025-12: EUR 27.30 per share

- 2026-01: EUR 27.90 per share

- 2026-02: EUR 17.20 per share

- 2026-03: EUR 14.98 per share

- 2026-04: EUR 18.13 per share

- 2026-05: EUR 22.80 per share

- 2026-06: EUR 23.16 per share

- 2026-07: EUR 22.58 per share

- 2026-08: EUR 22.50 per share

- 2026-09: EUR 17.66 per share

- 2026-10: EUR 16.81 per share

## Annual estimated value (EUR per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations