Traton SE (8TRA.DE) – Restrictive order policy continues

Traton SE (8TRA.DE) (Q2FY23)

Introduction

Traton SE manufactures commercial vehicles worldwide. It operates in Industrial Business and Financial Services segments.

The company offers city buses, intercity and travel coaches, and heavy-duty vehicles for long-distance and distribution transport, as well as construction vehicles; vans, light- to heavy-duty trucks for distributors, and long-distance vans; bus chassis, commercial trucks, and diesel engines; and school and commercial buses under the IC Bus brand.

It also provides a cloud-based platform for freight transportation under the RIO brand name; and after-sales services and custom digital solutions. The company offers its products and services under the MAN, Scania, Navistar, and Volkswagen brands. In addition, it provides customers financing solutions, such as loans or leases.

Highlights

Traton is continuing to face headwinds especially in North America with delivery disturbances and also in other regions of the world. The company’s order book is still very big for the company but, the lead time to customers remain far above desirable.

Stock performance

Over the past 3 years, Traton had delivered returns of 17% where the stock price surged from €16.74 in Aug 17, 2020 to €19.56 in Aug 17, 2023. The stock had a 200-Day Moving
Average of €17.43 and a 50-Day Moving Average of €19.38.

In the past 1 year, Traton generated returns of 40% where the stock price surged from €14.01 in Aug 22, 2022 to €19.56 in Aug 17, 2023. The stock had a 52 Week High of €21.44 and a 52 Week Low of €11.77.

Over the past 3 months, Traton generated returns of -5% where the stock price decreased from €20.62 in May 19, 2023 to €19.56 in Aug 17, 2023.

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Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– Economic Value Added Analysis
– P/E Analysis
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10 Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– ROIC & ROCE Analysis
– Segment Performance
– Key Metrics
– M&A Deals

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Stock Price Performance

Crispidea Coverage

No of Pages: 37

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