Summary
As a brand, no—but on the stock market, its luster is noticeably fading. On September 18, 2026, Volkswagen slashed its profit forecast and wrote down approximately 6 billion EUR on the value of its stake in Porsche after Porsche updated its medium-term plan and lowered its expectations for future performance. VW shares suffered their biggest single-day loss since 2022, while Porsche shares fell from around EUR 47 to below EUR 44 in the days that followed and crossed below their 200-day moving average on October 2. Porsche itself is sticking to its medium-term return targets and plans to provide details at its Capital Markets Day on October 7. The first half of 2026 presents a mixed picture: Revenue fell by 5.1% to EUR 17.23 billion, while operating profit rose to EUR 1.35 billion. The plan to cut 5,000 jobs by 2035 remains in place; CEO Michael Leiters has ruled out an additional 4,000 cuts. Analysts are divided: Deutsche Bank (Buy, 55 EUR) and UBS (Buy, 60 EUR) see significant potential, while Berenberg maintains its Hold rating (46 EUR). The stock is currently trading at approximately 43.03 EUR.
Key points:
VW is writing down its stake in Porsche by approximately 6 billion EUR and significantly lowering its 2026 group forecast (September 18, 2026)Porsche is sticking to its medium-term return target; according to VW, an operating return of 10 to 15% is expected. The “Sportwagenschmiede ’35” Capital Markets Day on October 7, 2026, is the next major catalyst. H1 2026: Revenue of EUR 17.23 billion (−5.1%), operating profit of EUR 1.35 billion, deliveries of 122,306 (−16%)Earnings per share: Q1: 0.44 EUR, Q2: 0.80 EUR (same quarter last year: 0.22 EUR)5,000 jobs by 2035 in Zuffenhausen and Weissach; CEO rejects plans for an additional 4,000Analysts are divided: 21% Buy, 39% Hold, 39% Sell, average price target 47.95 EUR; 200-day moving average crossed downward on October 2, 2026 (at 43.38 EUR), weekly decline of 4.3%52-week high of 50.66 EUR; current price is about 15% below thatNext quarterly results: October 27, 2026
Current Key Figures — Porsche Stock (as of October 5, 2026)
Key FigureValueDate
Price (XETRA: PAG911)
approx. 43.03 EUR
October 5, 2026
52-week high
50.66 EUR
June 16, 2026
52-week low
35.62 EUR
March 23, 2026
Difference from 52-week high
approx. −15%
October 5, 2026
Difference from 52-week low
approx. +21%
October 5, 2026
Weekly performance
−4.30%
October 5, 2026
Market capitalization
approx. 39.3 billion EUR
Oct. 2, 2026
VW write-down on Porsche stake
approx. 6 billion EUR
September 18, 2026
VW Group Forecast for 2026 (operating return)
approx. 1% (previously 4–5.5%)
September 18, 2026
Porsche’s medium-term return (according to VW)
10–15% operating return
September 18, 2026
Revenue for H1 2026
17.23 billion EUR (−5.1% YoY)
July 29, 2026
Operating income for H1 2026
EUR 1.35 billion
July 29, 2026
Revenue for Q2 2026
EUR 8.83 billion (−5.05% YoY)
July 29, 2026
Earnings per Share Q1 / Q2 2026
EUR 0.44 / EUR 0.80 (previous year: EUR 0.57 / EUR 0.22)
April 29 / July 29, 2026
Deliveries H1 2026
122,306 vehicles (−16% YoY)
July 9, 2026
911 / Cayenne (H1 deliveries)
30,534 (+19%) / 38,141 (−9%)
July 9, 2026
Job Cuts
5,000 additional jobs to be cut by 2035 (Zuffenhausen, Weissach)
End of July 2026
2025 Dividend / 2026 Estimate
1.01 EUR / approx. 1.04 EUR per preferred share
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Dividend Yield
approx. 2.4%
October 5, 2026
200-Day Moving Average
Crossed below on Oct. 2, 2026 (at 43.38 EUR)
Oct. 2, 2026
WKN / ISIN / Ticker
PAG911 / DE000PAG9113 / P911
—
Average Analyst Price Target
47.95 EUR
September 30, 2026
Analyst Consensus
21% Buy · 39% Hold · 39% Sell
October 2, 2026
Deutsche Bank / UBS / Berenberg
Buy 55 EUR / Buy 60 EUR / Hold 46 EUR
Sept. 2026
Capital Markets Day (“Sports Car Forge ’35”)
October 7, 2026
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Next Quarterly Results (Q3)
October 27, 2026
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Porsche Stock News — All the Latest Updates at a Glance
The most important news about Porsche stock from the past few weeks at a glance:
Date | News | Details | Assessment
Oct. 7, 2026
Capital Markets Day “Sports Car Forge ’35”
Porsche will present its strategy through 2035 in Weissach and online (9:00 a.m. to 4:30 p.m.). Investors expect answers regarding productivity, portfolio simplification, the model lineup, and capital efficiency, as well as how Porsche plans to demonstrate its medium-term return targets.
Pending
October 2, 2026
200-day moving average crossed downward
Pullback to 43.38 EUR — the stock has fallen below the 200-day moving average, a clearly negative technical signal just a few days before the Capital Markets Day. On a weekly basis, the decline amounts to approximately 4.3%.
Bearish
September 29, 2026
UBS confirms “Buy” rating, price target of 60 EUR
The major Swiss bank maintains its “Buy” rating for Porsche AG with a price target of 60 EUR—the highest of the currently documented targets.
Bullish
September 18, 2026
VW Profit Warning Weighs on Porsche
Volkswagen lowers its 2026 forecast and writes down the value of its Porsche stake by approximately 6 billion EUR—due to lower expectations for Porsche’s future performance. Porsche stands by its medium-term return targets and refers to the Capital Markets Day. In the days that follow, the stock falls from around 47 EUR to below 44 EUR.
Bearish
September 17, 2026
Deutsche Bank raises price target to 55 EUR
Analyst Tim Rokossa raises the target from 45 to 55 EUR and reaffirms a “Buy” rating—citing potential progress in premiumization, the model lineup, productivity, and capital efficiency. The stock jumps by over 4% on that day to around 47 EUR.
Bullish
Sept. 2026
Analysts remain divided
Berenberg maintains its “Hold” rating and raises the target price from 43 to 46 EUR. According to aktien.guide, 21% recommend buying, 39% recommend holding, and 39% recommend selling.
Mixed
Aug. 2026
Leiters Rejects Further 4,000 Job Cuts
Following VW’s recommendation for additional cuts, CEO Michael Leiters clarifies: The “Future Package” includes 5,000 jobs—no more, no less. As an independently listed company, Porsche is not bound by VW’s directives.
Neutral
End of July 2026
Agreement on 5,000 additional job cuts by 2035
Porsche and IG Metall agree to cut 5,000 jobs in Zuffenhausen and Weissach—in a socially responsible manner through natural attrition, partial retirement, and voluntary severance packages.
Bearish
July 29, 2026
Half-Year Results: Profit Exceeds Expectations
H1 operating profit: EUR 1.35 billion; Q2 earnings per share: EUR 0.80, up from EUR 0.22 in the prior year. Revenue: EUR 17.23 billion (−5.1%), deliveries: −16%. According to MarketScreener, part of the jump in profit is attributable to one-time reversals of provisions.
Mixed
June 16, 2026
New 52-week high: EUR 50.66
The stock hit its annual high—the starting point of the correction of about 15% that has been underway since then.
History
What does Porsche do? — Who is behind the sports car manufacturer?
Company Description
The Dr. Ing. h.c. F. Porsche AG (ISIN: DE000PAG9113, WKN: P911) is one of the world’s best-known sports car manufacturers, headquartered in Stuttgart-Zuffenhausen. Founded in 1931 by Ferdinand Porsche, the company made its breakthrough as a sports car manufacturer in 1963 with the legendary Porsche 911. On September 29, 2022, the company went public in what was Germany’s largest initial public offering since Deutsche Telekom’s in 1996—at an IPO price of 82.50 EUR. Porsche AG is majority-owned by Volkswagen AG (75% of the common stock). In addition, Porsche SE—the holding company of the Porsche and Piëch families—holds 25% plus one
common share (block minority). The preferred shares traded on the stock exchange (ticker: P911) are in free float—they carry no voting rights but are fully entitled to dividends. As a buyer of preferred stock, you have an economic stake but no voting rights. Actual control lies with VW and the Porsche-Piëch family.
The model portfolio—from the icon to the SUV:
- 911: The icon—in production since 1963, still the group’s most profitable model. H1 2026: +19% growth despite an overall market slump
- Cayenne: Best-selling model—SUV available with internal combustion engine, PHEV, and now electric. Deliveries of the Cayenne Electric begin in late June 2026
- Macan: Compact SUV—electric version in production; production of the internal combustion engine model ends in July 2026
- Taycan: All-electric sedan — BEV share fell from 25.9% to 19.8% in H1
- Panamera: Luxury sedan and Sport Turismo — stable but low volume
- 718 (Boxster/Cayman): Discontinued in October 2025 — no direct successor planned; sales down 73% in H1
Last generation of the Porsche 718 - Source: hh-autos.com
At Porsche, the name itself is the most valuable asset, and that’s exactly why every report of doubt carries double the weight. Do you remember the Siemens Energy Aktie? A global corporation that paid around 300 million EUR in licensing fees per year for the “Siemens” name for years and now wants to get rid of it because it’s no longer worth the cost. Porsche can’t afford such experiments: Here, the brand is the product.
Fundamental Analysis: Is the parent company’s skepticism justified?
Fundamental Analysis of Porsche Stock (as of October 5, 2026)
Partially—earnings power remains solid, but future planning raises questions, and that is precisely what the parent company is currently factoring into its valuation.
Valuation in the Context of the Write-Down: With a market capitalization of around 39.3 billion EUR and a dividend yield of approximately 2.4%, the stock appears more moderately valued following the decline from its annual high. If you simply double the half-year earnings per share of 1.24 EUR (Q1: 0.44 EUR, Q2: EUR 0.80), ends up with a P/E ratio of around 17. However, this calculation is rough, as the second half of the year is generally considered weaker, and according to MarketScreener, part of the Q2 profit came from one-time reversals of provisions. Volkswagen’s EUR 6 billion write-down shows that it is not the company’s current profitability that is being questioned, but rather its planning for the coming years.
Margin Development and Cash Flow: In the first half of 2026, operating profit rose to 1.35 billion EUR, even though revenue fell by 5.1% and deliveries declined by 16%. This points to price discipline and a strong model mix, particularly driven by the 911. However, a look at 2025 puts this into perspective: The net cash flow margin for the automotive division fell to 4.7% (2024: 10.2%), and earnings per preferred share were only EUR 0.48. According to Volkswagen, Porsche is targeting an operating return of 10 to 15% in the medium term—a long way off, given that Volkswagen expects its own group to reach only about 1% by 2026.
Balance Sheet Quality and Capital Repayment: Porsche points to high net liquidity and a healthy balance sheet, which give the company flexibility during its restructuring. The dividend is expected to remain stable at around EUR 1.04 per preferred share. The elimination of 5,000 jobs by 2035 will reduce costs but will weigh on the bottom line in the short term due to restructuring expenses. The dispute with the parent company is also a factor: The VW supervisory board may only make recommendations to Porsche, not issue directives. Leiters has already rejected the demand for 4,000 additional job cuts.
Segment Analysis and Analyst Consensus: The 911 is growing, the Cayenne is struggling, and the Macan and 718 are in the midst of a transition to electric. It is precisely this transition phase that divides analysts: 21% recommend buying, 39% recommend holding, and 39% recommend selling; the average price target is 47.95 EUR. You’re familiar with the fact that analysts can have completely different views on the same stock from the Hensoldt Aktie — but at Porsche, the three camps are nearly equal in size, and none can outvote the others.
Conclusion of the fundamental analysis: The operational foundation is intact, the balance sheet is solid, and the brand is strong. Confidence in the growth and return projections, however, has been shaken, and Capital Markets Day must show whether Porsche can close this gap with concrete targets.
Porsche Stock (P911) Margin Trends (as of Oct. 5, 2026) – Source: Aktienfinder / Christian Lill
How is the Porsche stock price performing?
Current Chart Analysis of Porsche Stock 2026 (as of October 5, 2026)
Despite its brand, Porsche stock remains in correction mode: It has fallen about 15% from its 52-week high of 50.66 EUR (June 16), but remains a good 20% above its annual low of 35.62 EUR (March 23). On September 17, the stock price jumped by over 4% to around EUR 47 following Deutsche Bank’s target price hike, but Volkswagen’s profit warning the very next day wiped out those gains within a few trading days. On October 2, the stock crossed below the 200-day moving average at 43.38 EUR; it is currently trading at approximately 43.03 EUR and is down 4.3% for the week. Better, but still lower: You’re familiar with this pattern from Rheinmetall Aktie, where the numbers also improved but the price continued to slide because the market looks to the future, not the past.
Key price levels:
52-week high: 50.66 EUR (June 16, 2026)52-week low: 35.62 EUR (March 23, 2026)Current price: approx. 43.03 EUR (October 5, 2026)200-day moving average: 43.38 EUR — crossed downward on Oct. 2First resistance: 49 EUR (high from Sept. 17)Second resistance: 56–63 EURAnalysts’ target range: 46–60 EUR, avg. 47.95 EURCritical support level: A drop below 39 EUR would bring the yearly low back within reach
Technical Analysis:
Following the recent interim high, which was marked at 50.66 EUR, Porsche’s stock is consolidating. However, the ideal countercyclical price zone of 40 EUR is now drawing nearer. I consider another short-term low down to this range likely before a trend reversal can be signaled from a technical perspective. If no new low forms, 50.50 EUR would be the procyclical long trigger level. If, on the other hand, Porsche stock falls below 35.62 EUR, another wave of selling could follow, pushing the price down to 30.40 EUR. Personally, I find the 40-EUR mark very interesting. It would also be important for buying interest to emerge at that level.
Conclusion: Should you buy Porsche stock now or wait?
My assessment: Buy
Is Porsche losing its luster?
Not as a brand—demand for the 911 (+19%) and the high rate of customization point to undiminished appeal. As an investment, however, it has lost some of its luster: VW is writing off around 6 billion EUR, job cuts are underway, analysts are split into three nearly equal camps, and the stock price has slipped below the 200-day moving average. Capital Markets Day on October 7 will be the litmus test of whether Porsche can credibly demonstrate its return ambitions. Just how quickly a single event can turn the tide was SAP Aktie : After months of skepticism, the stock jumped by over 9% in a single trading day following its earnings report. Whether Porsche will experience a similar moment in a few days or confirm the skeptics’ views will be decided soon.
Those who believe in the brand and its realignment will find an entry point here well below the annual high, with a dividend yield of around 2.4%. Those who want to play it safe should wait for the strategy details on October 7 and the quarterly results on October 27, and watch to see if the stock can break back above the 200-day moving average.
✅ Opportunities
⚠️ Risks
- Capital Markets Day on October 7 as a concrete catalyst for renewed confidence
- Operating profit rose to EUR 1.35 billion in the first half of the year despite a decline in revenue
- Demand for the 911 remains strong at +19%; Cayenne Electric is gaining momentum
- Deutsche Bank (55 EUR) and UBS (60 EUR) see significant potential
- High net liquidity and a solid balance sheet provide room for restructuring
- Share price about 15% below the annual high with a stable dividend yield of approximately 2.4%
- VW writes down its Porsche stake by approximately EUR 6 billion—a vote of no confidence from the parent company
- Crossed below the 200-day moving average on Oct. 2, with a weekly decline of 4.3%
- Deliveries fell by 16% in the first half of the year
- According to MarketScreener, part of the Q2 profit stems from one-time effects
- Analysts are split into three nearly equal camps: Buy, Hold, Sell
- Dispute with VW over further job cuts and return targets of 10 to 15% remains unproven
FAQ: Frequently Asked Questions About Porsche Stock
Is the Porsche stock a buy in 2026?
Analysts are divided: According to aktien.guide, 21% recommend buying, 39% recommend holding, and 39% recommend selling. Deutsche Bank (Buy, 55 EUR) and UBS (Buy, 60 EUR) see significant potential, while Berenberg maintains a Hold rating at 46 EUR. The average price target is around 48 EUR.
Why have Porsche shares fallen recently?
On September 18, 2026, Volkswagen wrote down the value of its Porsche stake by approximately 6 billion EUR and lowered its forecast because Porsche has lower expectations for future performance. As a result, the stock fell from around 47 EUR to below 44 EUR and crossed below the 200-day moving average on October 2.
What is the price target for Porsche stock?
Price targets range from 46 EUR (Berenberg) to 55 EUR (Deutsche Bank) to 60 EUR (UBS). The average among all analysts is around 47.95 EUR, which is about 11% above the current price of approximately 43 EUR.
How many jobs is Porsche cutting?
Porsche will cut approximately 5,000 additional jobs by 2035, primarily in Zuffenhausen and Weissach, in a socially responsible manner through natural attrition, partial retirement, and voluntary severance packages. CEO Michael Leiters rejects a recommendation from VW to cut an additional 4,000 jobs: The figure remains at 5,000 jobs—neither more nor less.
Will $P911 (+0.82%) the turnaround—what do you think about it?