Mercedes stock holds after 2025 earnings and 2026 outlook

Mercedes stock (Mercedes-Benz Group AG, ISIN DE0007100000) is anchored by EUR 145.6 billion in 2025 revenue, EUR 13.6 billion in EBIT, and a 2026 industrial free cash flow outlook of EUR 5 billion to EUR 7 billion. The company published those figures in its 2025 annual results on 14 February 2026, making the latest report the clearest fresh reference point for the shares.

EUR 13.6 billion EBIT

Mercedes-Benz Group said 2025 revenue came in at EUR 145.6 billion, while adjusted EBIT reached EUR 13.6 billion. The company also reported a 2025 industrial free cash flow of EUR 9.2 billion, a level that gives investors a concrete view of the cash base behind the business.

The comparison is direct: 2025 industrial free cash flow of EUR 9.2 billion sits above the 2024 level of EUR 7.9 billion, while revenue moved from EUR 153.2 billion in 2024 to EUR 145.6 billion in 2025. That mix suggests a lower top line but a still-strong cash conversion profile.

EUR 5 billion to EUR 7 billion

For 2026, Mercedes-Benz Group guided industrial free cash flow to EUR 5 billion to EUR 7 billion. It also set an adjusted return on sales target of 6% to 8% for Mercedes-Benz Cars, which gives the market a second measurable anchor for the year.

The guidance matters because it frames how much cash the group expects after a year that still produced EUR 9.2 billion in industrial free cash flow. A range of EUR 5 billion to EUR 7 billion implies a lower base than 2025, but not a collapse in cash generation.

Mercedes-Benz Cars targets

Within the cars division, Mercedes-Benz Group reported a 2025 adjusted return on sales of 8.1%. The 2026 target range of 6% to 8% is lower than that 2025 outcome, so the focus for investors shifts from peak margin to the durability of earnings.

That gap between 8.1% in 2025 and 6% to 8% in 2026 is the most useful comparison in the current set of numbers. It tells the market that management is planning for a more demanding year while still keeping profitability in a positive band.

Mercedes-Benz stock and cash

Mercedes-Benz Group's 2025 results also included a proposed dividend of EUR 4.30 per share, after EUR 5.30 per share for 2024. The lower payout is a second concrete year-on-year change that fits the broader picture of more cautious capital return.

For the product side, the company continues to frame the business around passenger cars, vans, and its electrified model range, but the current market story is really about the numbers in the annual report. Revenue of EUR 145.6 billion, EBIT of EUR 13.6 billion, and industrial free cash flow of EUR 9.2 billion are the figures that now anchor the stock narrative.

Price and market view

Mercedes stock closed the latest German trading session at EUR 52.34 on Xetra, giving the shares a market capitalization of EUR 50.6 billion as of 22 July 2026. Those market values sit alongside the report figures rather than replacing them, and together they show why cash flow and margin now matter most.