Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
TRATON SE is a leading global commercial vehicle manufacturer and the parent company of the TRATON GROUP, operating as a subsidiary of the Volkswagen Group. Headquartered in Munich, Germany, and founded in 2015, it oversees renowned brands including Scania, MAN Truck & Bus, International Motors (formerly Navistar), and Volkswagen Truck & Bus. The company produces a diverse portfolio of heavy-duty trucks, light commercial vehicles, construction vehicles, school buses under the IC Bus brand, commercial buses, vans, and diesel and gas engines, serving markets in Europe, North America, South America, Asia, and beyond. TRATON SE operates through key segments such as Scania Vehicles and Services, MAN Truck & Bus, International Motors, Volkswagen Truck & Bus, and TRATON Financial Services, which provides financing, insurance, and leasing for commercial vehicles. Complementing its offerings, it delivers innovative services like the RIO cloud-based platform for transport and logistics, after-sales support, custom digital solutions, and charging infrastructure through TRATON Charging Solutions and the Milence joint venture. Employing over 105,000 people across 25 production sites worldwide, TRATON SE plays a pivotal role in advancing sustainable transportation, driving the shift toward electric mobility and digital transformation in the logistics industry.
Operating margin is thin at 6.55%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 7.2% YoY. Margins deteriorated 3.2pp alongside, both lines moving the wrong way.
ROIC dropped from 12.49% to 5.03%, capital efficiency is deteriorating. Negative free cash flow of -€1.89B. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
€43.68B
▼ -7.2% YoY
Net Income (TTM)
€1.30B
▼ -44.9% YoY
Op. Margin
5.29%
▼ -3.2pp YoY
ROIC
5.03%
▼ -7.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-€2.12B
▼ -372.3% YoY
Op. Cash Flow (TTM)
-€1.83B
▼ -956.8% YoY
Net Debt
€23.66B
Cash & Equiv.
€3.38B
3Y CAGR: +3.0%
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