Porsche in the capital market

Stock price and overall market

The global stock markets maintained their positive momentum in 2025, driven by expansive monetary policies and stable economic development in the leading national economies. Following the interest rate cuts in the previous year, both the European Central Bank (ECB) and the American Federal Reserve (Fed) continued their easing strategies and lowered interest rates further over the course of the year. The consistently high level of liquidity shored up international stock exchanges and contributed to rising valuations. At the same time, robust economic data and solid business developments generated additional tailwinds on the stock markets.

Market Environment

In spite of geopolitical uncertainty—especially the ongoing conflicts in Eastern Europe and the Middle East—as well as isolated phases of economic weakness, market sentiment remained predominantly positive thanks to the continuation of the expansive monetary policies of the key central banks. The German stock index DAX surpassed 24,000 points for the first time in the reporting year, climbing by around 23.0 % in the year.

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Likewise, the development of the MSCI World Index was robust, with annual growth of some 19.9 %. EURO STOXX 50, Europe’s leading index, benefited from rising stock prices in the technology, financial services, and industrial sectors in particular. However, the performances of the sector indices relevant to Porsche were more subdued.

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• The STOXX Europe 600 Automobiles & Parts (SXAP) fell by around 4.7 % under the strain of the slow uptake of electromobility in Europe, high inputs for new technology, and a challenging competitive environment.
• The S&P Global Luxury Index was virtually stagnant due to weaker demand for premium products in important sales markets like China, as well as increasing market maturity in the global luxury goods segment.

Industry Environment

The automotive industry is still undergoing the most profound transformation in its history. The dynamism of electromobility varies greatly from region to region and is below expectations overall. The medium-term conditions are challenging in the Chinese market in particular, which has traditionally been one of the most important sales markets. Geopolitical tensions, rising protectionism, and fragile supply chains are also impacting the operational environment in key sales markets. At the same time, technological transformation requires considerable investments in new drives and software architectures, as well as in flexible, globally oriented production structures. In light of these factors, 2024 and 2025 proved to be a phase of heightened uncertainty in which the importance of strategic positioning and consistent operational excellence increased for the entire industry.

Stock price of Porsche AG

The development of the stock price of Porsche AG in the 2025 financial year was weak and volatile overall. After a subdued start to the year, the stock remained under pressure over the course of the year and traded at a significantly lower price than in the previous twelve months. The challenging market environment, limited product availability in certain segments, and considerably weaker demand in the luxury segment in China had a significant impact in particular. Additionally, the impact of more aggressive US tariff policies on international trade flows and cost structures stifled business development. Growing macroeconomic uncertainty and unpredictable trade policies also had an effect.

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In spite of the negative development of the share price, long-term investors remained generally interested due to the strong positioning of the brand, the systematic strategic reorientation, and strong cash flows. The preferred shares reached a peak price in the reporting year of €62.80 on January 27, 2025; the lowest price was €39.67 on June 26, 2025. The year-end price was €45.62, which corresponds to a market capitalization of €41.6 billion. The average daily trading volume at all European trading venues was around €93.1 million, of which around €38.4 million was attributable to Xetra trading. Overall, the performance of the stock price reflected the challenging sectoral environment and the investment phase.

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Porsche AG Shares on the MDAX

In September 2025, Deutsche Börse made adjustments to the composition of the German stock indices. As a result, Porsche AG moved from the DAX to the MDAX. The reclassification was brought about by free-float market capitalization rules. Following the successful IPO in 2022 and the rapid advancement to the leading index, the regrouping was carried out due to a lower market capitalization based on freely traded shares. However, reclassification into the MDAX did not have a material impact on capital market interest or the activities of Porsche AG on the capital market. The proportion of passive investors, whose trading activity tracks the value of an index, remained high too.