NYSE · Consumer Cyclical

Stellantis N.V.

STLA · Auto Manufacturers

$6.34

▼ -0.13 (-2.01%)

Cached · 10 min

Overall Grade

Defensive

Enterprising

Profitability

F⤢

Gross Profit Margin 11.6%

Operating Margin 1.8%

Net Income Margin 1.0%

Fin. Health

D⤢

Years to Pay Off Debt 122.9 yrs

Working Capital vs Long-Term Debt -$25.9B

Working Capital $3.0B

Valuation

C⤢

Margin of Safety 21.8%

Price-to-Book 0.30x

Cash Flow

F⤢

Free Cash Flow -$4.3B

CapEx % of Net Income 417.9%

Owner Earnings $3.6B

Profitability

Gross Profit Margin 11.6%

Revenue minus cost of goods sold. Graham's ≥40% threshold identifies businesses with durable pricing power. Note: software and financial companies naturally exceed this; retailers and manufacturers rarely reach it due to their cost structures.

Operating Margin 1.8%

Profit after operating costs before interest and taxes. A consistent ≥15% operating margin signals a business with real competitive advantages. Capital-intensive industries (airlines, auto, commodities) rarely hit this threshold due to their structural cost base — compare within industry for context.

Net Income Margin 1.0%

Bottom-line profit as a percentage of revenue. The ≥20% target reflects Buffett's preference for highly profitable businesses. Financial engineering (buybacks, tax optimisation) can inflate this temporarily — look for consistency across multiple years rather than a single strong result.

Financial Health

Years to Pay Off Debt 122.9 yrs

Total Debt ÷ Net Income. Lower = stronger balance sheet. Important caveat: utilities, telecoms, REITs, and infrastructure companies carry large structural debt by design — their bond-like cash flows service it comfortably at ratios that would alarm Graham. Compare within sector.

Working Capital vs Long-Term Debt -$25.9B

Working Capital minus Long-Term Debt. Negative results are common and expected in capital-return-focused businesses like Apple, Domino's, and McDonald's — where aggressive buybacks and dividends intentionally reduce book equity. This does not indicate financial distress in high-FCF businesses.

Working Capital $3.0B

Current Assets minus Current Liabilities. Negative working capital can be a deliberate efficiency strategy in businesses that collect cash before paying suppliers (retailers, fast food franchises, subscription businesses). Assess alongside free cash flow generation for full context.

Cash Flow

Free Cash Flow -$4.3B

Operating cash flow minus capital expenditures. Buffett's most important metric — cash a business actually generates for its owners after maintaining and growing its asset base. Consistently positive FCF is one of the strongest indicators of a durable, well-run business regardless of accounting profits.

CapEx % of Net Income 417.9%

Capital expenditure as a share of net income. Low CapEx signals a capital-light business that doesn't need heavy reinvestment to sustain earnings — Buffett's ideal. High CapEx is structurally necessary in manufacturing, airlines, telecoms, and semiconductors. For these industries, a high reading reflects the business model, not poor management.

Owner Earnings $3.6B

Net Income + Depreciation & Amortisation − Capital Expenditures. Buffett's preferred measure of a company's true annual earning power — what could theoretically be distributed to owners without impairing the business. More reliable than reported EPS because it accounts for the capital cost of maintaining the business.

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

About Stellantis N.V.

Stellantis N.V. engages in the designing, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, and mobility services worldwide. It provides luxury and premium vehicles; global sport utility vehicles; American and European brand vehicles, as well as parts and accessories. The company also provides contract services; retail and dealer financing services; and vehicle leasing and rental services, as well as engages in after-market parts and service businesses and data businesses. It offers its products under the Abarth, Alfa Romeo, Chrysler, Citroën, DS Automobiles, Dodge, Fiat, Jeep, Maserati, Ram Trucks, Opel, Lancia, Vauxhall, Peugeot, Free2move, Share Now, Leasys, and Comau brand names through distributors and dealers. The company has a strategic collaboration with Microsoft Corporation for the development of AI initiatives across sales, customer care and operations. The company operates in North America, France, Brazil, Italy, Germany, the United Kingdom, Turkiye, Spain, Argentina, Belgium, Austria, Netherlands, Portugal, Poland, Algeria, Morocco, Japan, China, and internationally. Stellantis N.V. was founded in 1899 and is based in Hoofddorp, the Netherlands.

Market Data

Market Cap $18.4B

Enterprise Value $37.2B

P/E (TTM) 3.60

Dividend Yield N/A

Exchange NYSE

Key Margins

Gross Profit 11.6%

Operating Margin 1.8%

Net Margin 1.0%

Company Info

Sector Consumer Cyclical

Industry Auto Manufacturers

Employees 258668

Country Netherlands

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering Stellantis N.V. at $6.34.

The business passes only 3 of 6 of Graham's defensive criteria — well below his required standard.

At $6.34, the stock trades below its Graham Number of $8.11 — suggesting a margin of safety exists.

The margin of safety of 21.8% offers some protection but falls short of Graham's preferred 33% buffer.

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign..

Conclusion: By Graham's standards, this stock is speculative at its current price. The intelligent investor would look elsewhere or wait.

Showing Key Metrics

Income Highlights

Metric	Q1 2026	Q4 2025
Gross Profit %	11.6%•	N/A
Operating Margin %	1.8%•	N/A
Net Income %	1.0%•	N/A
Diluted EPS	0.14•	N/A

Balance Sheet Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Total Assets	$207.4B	$195.2B	$207.6B
Total Debt	$47.9B▲	$45.9B▲	$37.2B
Working Capital	$3.0B▲	$1.8B▼	$6.4B
Years to Pay Debt	122.87	N/A	N/A

Cash Flow Highlights

Metric	Q1 2026	Q2 2025
Free Cash Flow	-$4.3B▼	-$1.9B
Owner Earnings	$3.6B	$2.3B
CapEx % of Net Income	417.9%	N/A

Income Statement

	2026	2025
Tax Effect Of Unusual Items	-23,023
Tax Rate For Calcs	0
Normalized EBITDA	2,582,000
Total Unusual Items	-77,000
Total Unusual Items Excluding Goodwill	-77,000
Net Income From Continuing Operation Net Minority Interest	390,000
Reconciled Depreciation	1,569,000
Reconciled Cost Of Revenue	33,703,000
EBITDA	2,505,000
EBIT	936,000
Net Interest Income	-183,000
Interest Expense	398,000
Interest Income	215,000
Normalized Income	443,977
Net Income From Continuing And Discontinued Operation	390,000
Total Expenses	37,445,000
Total Operating Income As Reported	688,000
Diluted Average Shares	2,911,865
Basic Average Shares	2,897,491
Diluted EPS	0
Basic EPS	0
Diluted NI Availto Com Stockholders	390,000
Net Income Common Stockholders	390,000
Net Income	390,000
Minority Interests	13,000
Net Income Including Noncontrolling Interests	377,000
Net Income Continuous Operations	377,000
Tax Provision	161,000
Pretax Income	538,000
Other Income Expense	34,000
Special Income Charges	-100,000
Write Off	2,000
Restructuring And Mergern Acquisition	98,000
Earnings From Equity Interest	111,000
Gain On Sale Of Security	23,000
Net Non Operating Interest Income Expense	-183,000
Interest Expense Non Operating	398,000
Interest Income Non Operating	215,000
Operating Income	687,000
Operating Expense	3,742,000
Research And Development	1,440,000
Selling General And Administration	2,302,000
Gross Profit	4,429,000
Cost Of Revenue	33,703,000
Total Revenue	38,132,000	42,008,000
Operating Revenue	36,825,000	42,008,000

Balance Sheet

	2026	2025	2024
Treasury Shares Number	6,209	6,233	15,581
Ordinary Shares Number	2,897,508	2,897,483	2,880,492
Share Issued	2,903,716	2,903,716	2,896,074
Net Debt	13,414,000	13,347,000	571,000
Total Debt	47,919,000	45,947,000	37,227,000
Tangible Book Value	15,229,000	8,666,000	27,327,000
Invested Capital	105,892,000	97,044,000	116,363,000
Working Capital	2,999,000	1,799,000	6,392,000
Net Tangible Assets	15,229,000	8,666,000	27,327,000
Capital Lease Obligations	2,555,000	2,454,000	2,556,000
Common Stock Equity	60,528,000	53,551,000	81,692,000
Total Capitalization	89,459,000	83,741,000	105,022,000
Total Equity Gross Minority Interest	60,946,000	54,001,000	82,115,000
Minority Interest	418,000	450,000	423,000
Stockholders Equity	60,528,000	53,551,000	81,692,000
Other Equity Interest	5,014,000
Gains Losses Not Affecting Retained Earnings	2,121,000	532,000	4,624,000
Other Equity Adjustments	253,000	106,000	-359,000
Foreign Currency Translation Adjustments	-1,238,000	-2,489,000	2,048,000
Minimum Pension Liabilities	3,571,000	3,442,000	3,129,000
Unrealized Gain Loss	-465,000	-527,000	-194,000
Treasury Stock	285,000	285,000	285,000
Retained Earnings	53,641,000	53,267,000	77,316,000
Capital Stock	37,000	37,000	37,000
Common Stock	37,000	37,000	37,000
Total Liabilities Net Minority Interest	146,471,000	141,152,000	125,492,000
Total Non Current Liabilities Net Minority Interest	60,136,000	62,413,000	50,306,000
Other Non Current Liabilities	623,000	635,000	243,000
Derivative Product Liabilities	16,000	27,000	57,000
Employee Benefits	4,738,000	4,795,000	5,441,000
Non Current Accrued Expenses	822,000	789,000	882,000
Tradeand Other Payables Non Current	3,201,000	3,007,000	3,271,000
Non Current Deferred Liabilities	2,696,000	2,738,000	6,524,000
Non Current Deferred Revenue	1,446,000	1,444,000	2,017,000
Non Current Deferred Taxes Liabilities	1,250,000	1,294,000	4,507,000
Long Term Debt And Capital Lease Obligation	30,591,000	31,826,000	25,028,000
Long Term Capital Lease Obligation	1,660,000	1,636,000	1,698,000
Long Term Debt	28,931,000	30,190,000	23,330,000
Long Term Provisions	17,449,000	18,596,000	8,860,000
Current Liabilities	86,335,000	78,739,000	75,186,000
Other Current Liabilities	3,323,000	3,339,000	3,932,000
Current Deferred Liabilities	763,000	744,000	713,000
Current Deferred Revenue	763,000	744,000	713,000
Current Debt And Capital Lease Obligation	17,328,000	14,121,000	12,199,000
Current Capital Lease Obligation	895,000	818,000	858,000
Current Debt	16,433,000	13,303,000	11,341,000
Other Current Borrowings	16,433,000	13,303,000	11,341,000
Pensionand Other Post Retirement Benefit Plans Current	523,000	517,000	583,000
Current Provisions	13,566,000	14,317,000	14,220,000
Payables And Accrued Expenses	50,832,000	45,701,000	43,539,000
Current Accrued Expenses	7,135,000	6,323,000	5,015,000
Payables	43,697,000	39,378,000	38,524,000
Other Payable	7,748,000	7,534,000	6,949,000
Total Tax Payable	2,051,000	1,845,000	1,891,000
Accounts Payable	33,898,000	29,999,000	29,684,000
Total Assets	207,417,000	195,153,000	207,607,000
Total Non Current Assets	118,083,000	114,615,000	126,029,000
Other Non Current Assets	1,137,000	902,000	584,000
Defined Pension Benefit	1,009,000	967,000	924,000
Non Current Prepaid Assets	475,000	395,000	455,000
Non Current Deferred Assets	6,507,000	6,383,000	4,371,000
Non Current Deferred Taxes Assets	6,507,000	6,383,000	4,371,000
Non Current Accounts Receivable	9,680,000	9,161,000	8,104,000
Financial Assets	245,000	316,000	327,000
Investments And Advances	8,819,000	8,648,000	11,888,000
Investmentin Financial Assets	1,326,000	1,372,000	2,788,000
Available For Sale Securities	469,000	469,000	1,466,000
Financial Assets Designatedas Fair Value Through Profitor Loss Total	857,000	903,000	1,322,000
Long Term Equity Investment	7,493,000	7,276,000	9,100,000
Investmentsin Joint Venturesat Cost		5,229,000	7,037,000
Investments In Other Ventures Under Equity Method		21,000	48,000
Investmentsin Associatesat Cost		2,026,000	2,015,000
Goodwill And Other Intangible Assets	45,299,000	44,885,000	54,365,000
Other Intangible Assets	30,950,000	30,876,000	39,021,000
Goodwill	14,349,000	14,009,000	15,344,000
Net PPE	44,912,000	42,958,000	45,011,000
Accumulated Depreciation		-48,084,000	-42,161,000
Gross PPE		91,042,000	87,172,000
Construction In Progress		4,266,000	6,111,000
Other Properties		18,728,000	14,001,000
Machinery Furniture Equipment		55,767,000	54,846,000
Buildings And Improvements		10,949,000	10,823,000
Land And Improvements		1,332,000	1,391,000
Current Assets	89,334,000	80,538,000	81,578,000
Other Current Assets	3,871,000	3,616,000	1,977,000
Hedging Assets Current	524,000	394,000	326,000
Assets Held For Sale Current	5,000	5,000	917,000
Restricted Cash	0	2,000	31,000
Prepaid Assets	1,370,000	1,236,000	1,866,000
Inventory	24,960,000	22,153,000	20,861,000
Finished Goods	14,048,000	12,161,000	11,242,000
Work In Process	10,912,000	9,992,000	9,619,000
Receivables	25,876,000	21,809,000	18,517,000
Other Receivables	14,228,000	11,682,000	7,872,000
Taxes Receivable	5,085,000	4,465,000	5,139,000
Accounts Receivable	6,563,000	5,662,000	5,506,000
Allowance For Doubtful Accounts Receivable		-654,000	-608,000
Gross Accounts Receivable		6,316,000	6,114,000
Cash Cash Equivalents And Short Term Investments	32,728,000	31,323,000	37,083,000
Other Short Term Investments	778,000	1,177,000	2,983,000
Cash And Cash Equivalents	31,950,000	30,146,000	34,100,000
Cash Equivalents		20,012,000	24,692,000
Cash Financial		10,134,000	9,408,000

Cash Flow

	2026	2025
Free Cash Flow	-4,348,000	-1,942,000
Repayment Of Debt	-2,308,000	-531,000
Issuance Of Debt	1,805,000	3,975,000
Capital Expenditure	-1,630,000	-2,501,000
End Cash Position	31,950,000	30,660,000
Beginning Cash Position	30,146,000	32,780,000
Effect Of Exchange Rate Changes	313,000	-942,000
Changes In Cash	1,491,000	-1,178,000
Other Cash Adjustment Inside Changein Cash	0	124,000
Financing Cash Flow	5,524,000	-721,000
Cash Flow From Continuing Financing Activities	5,524,000	-721,000
Net Other Financing Charges	4,893,000
Net Issuance Payments Of Debt	631,000	1,241,000
Net Short Term Debt Issuance	1,134,000	-2,203,000
Net Long Term Debt Issuance	-503,000	3,444,000
Long Term Debt Payments	-2,308,000	-531,000
Long Term Debt Issuance	1,805,000	3,975,000
Investing Cash Flow	-1,315,000	-1,140,000
Cash Flow From Continuing Investing Activities	-1,315,000	-1,140,000
Net Other Investing Changes	-109,000	-52,000
Net Investment Purchase And Sale	465,000	1,267,000
Net Business Purchase And Sale	-57,000	127,000
Sale Of Business	10,000	350,000
Purchase Of Business	-67,000	-223,000
Net PPE Purchase And Sale	-1,614,000	-2,482,000
Sale Of PPE	16,000	19,000
Purchase Of PPE	-1,630,000	-2,501,000
Operating Cash Flow	-2,718,000	559,000
Cash Flow From Continuing Operating Activities	-2,718,000	559,000
Taxes Refund Paid	-209,000	238,000
Dividend Received Cfo	75,000	225,000
Change In Working Capital	-3,051,000	-2,750,000
Change In Other Working Capital	-693,000	-60,000
Change In Other Current Assets	-1,273,000	-1,289,000
Change In Receivables	-1,085,000	-2,007,000
Changes In Account Receivables	-1,085,000	-2,007,000
Other Non Cash Items	629,000	1,729,000
Provisionand Write Offof Assets	-2,167,000
Depreciation Amortization Depletion	1,569,000	1,703,000
Depreciation And Amortization	1,569,000	1,703,000
Operating Gains Losses	-102,000	601,000
Earnings Losses From Equity Investments	-111,000	396,000
Net Income From Continuing Operations	538,000	-2,457,000

📊 Quarterly mode — Graham Fair Value & 7 Criteria require annual data. Switch to Annual for full analysis.

Quarterly Health Checks

3 Graham/Buffett criteria that are valid and reliable on quarterly data

✅ Adequate Size

Graham required scale for resilience. Quarterly revenue × 4 gives an annualised proxy.

$38.1B/qtr (≈$152.5B ann.)

vs > $1.5B annualised revenue

❌ Financial Condition

Current assets vs current liabilities — a real-time liquidity snapshot. Valid and reliable on quarterly data.

1.03x current ratio

vs ≥ 2.0x

❌ Free Cash Flow

Buffett's most important single metric. A positive FCF quarter means the business generated real cash for owners after maintaining its asset base.

-$4.3B

vs Positive

Operating Cash Flow

-$2.7B

Latest quarter · Buffett's cash reality check

ROIC

0.4%

Based on latest annual operating income

Return on Invested Capital — Buffett's preferred measure for asset-light businesses. ROIC > 15% consistently signals a durable competitive advantage (moat). More meaningful than P/B for software, pharma, and consumer brand companies where most value is intangible and off-balance-sheet.

Market Cap / Net Assets

0.3x

Net Assets: $60.9B

Asset Context — Auto Manufacturers

Asset-heavy businesses (energy, industrials, utilities, REITs) have physical assets with real replacement value — book value and Net Assets are more meaningful here than for technology or consumer brand companies. A low Market Cap / Net Assets ratio may indicate genuine undervaluation.

Peers & Industry Comparison

Auto Manufacturers — Auto-detected peers

Company	Price	Market Cap	P/E	Gross Margin	Net Margin	Revenue
STLA	$6.34	$18.4B	3.60	11.6%	1.0%	$38.1B
TSLA Tesla, Inc.	$400.49	$1,504.1B	367.4	19.1%	3.9%	$97.9B
F Ford Motor Company	$14.06	$56.0B	N/A	7.1%	-3.2%	$189.9B
GM General Motors Company	$79.29	$71.5B	28.9	11.1%	1.4%	$184.6B
TM Toyota Motor Corporation	$173.94	$206.0B	9.4	16.7%	7.6%	$50,685.0B

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

23.67%

High — management has strong skin in the game

Return on Equity (ROE)

0.6%

Weak — poor returns on equity

Return on Assets (ROA)

0.2%

Poor — assets are not generating adequate returns

Debt Trend YoY

+4.3% YoY

Debt is roughly stable

Leadership Team

John Jacob Philip Elkann

Executive Chairman of the Board

Age 49

Pay: $1,572,928

0.403% of net income

Antonio Filosa

CEO, COO of North America American brands & Executive Director

Age 52

Pay: $4,538,294

1.164% of net income

Joao Laranjo

Chief Financial Officer

Luca Napolitano

Brand Chief Executive Officer of Lancia and Chief Sales & Marketing Officer

Olivier Francois

Chief Marketing Officer, Head of new Marketing Off & CEO of Fiat & Abarth

Top Institutional Holders

Institution	% Owned	Shares
Bpifrance SA	6.10%	192,703,907
Vanguard Capital Management LLC	2.11%	66,837,023
Amundi	2.04%	64,567,567
Goldman Sachs Group Inc	1.97%	62,157,530
Citigroup Inc.	1.40%	44,178,405
Bank of Italy	1.18%	37,430,307
BNP Paribas Asset Management Holding S.A.	1.16%	36,522,232
UBS Group AG	1.03%	32,607,358

Risk Analysis

Beta (Market Risk)

0.97

Low volatility — more stable than the market

Short Interest

2.9% of float

Low short interest — market is not heavily bearish

Debt-to-Equity

0.79x

Conservative balance sheet — low financial risk

Current Ratio

1.03x

Adequate liquidity

52-Week Price Range

Low: $6.28 Current: $6.34 High: $12.22

Currently at 1% of 52-week range

Stellantis N.V.

Metric Explanations

Full Graham Analysis

Income Highlights

Balance Sheet Highlights

Cash Flow Highlights

Quarterly Health Checks

Operating Cash Flow

ROIC

Market Cap / Net Assets

Peers & Industry Comparison

Capital Allocation & Alignment

Leadership Team

Top Institutional Holders

Risk Analysis