Porsche Stock Wipes Out Nearly 10% in a Week as Dividend Slash and Tariff Bill Deepen the Gloom
28.06.2026 - 16:07:22 | boerse-global.de
Porsche AG shares suffered their worst weekly rout in months, sliding 9.82% in the seven days through Friday as the company’s dividend cut and a surge in one-off costs hammered investor confidence. The stock closed at €43.05 on Friday, down 2.62% on the day, and now sits roughly 15% below its 52-week high of €50.56 hit on 16 June.
The dividend, paid on 26 June, told its own story. Holders received just €1.01 per preference share for the 2025 financial year, less than half the €2.31 they pocketed a year earlier. Behind that reduction lay a brutal set of full-year numbers: group revenue of €36.27 billion and an operating result of only €413 million, translating into an operating margin of 1.1% — a historic low for the premium automaker.
The first quarter of 2026 has done little to ease the pain. Revenue fell 5.2% to €8.40 billion from €8.86 billion a year earlier, while the operating margin contracted to 7.1% from 8.6%. The company delivered roughly 61,000 vehicles in the period, a 14% drop year-on-year. Among the model range, only the iconic 911 provided a bright spot, with deliveries jumping 22%.
Should investors sell immediately? Or is it worth buying Porsche AG?
Porsche’s full-year guidance for 2026 reflects the persistent headwinds it expects to face. The carmaker targets group revenue between €35 billion and €36 billion and an operating return on sales of 5.5% to 7.5%. That margin band already factors in heavy extraordinary charges: restructuring costs of €800 million to €900 million and tariff-related expenses of roughly €700 million. Crucially, the forecast explicitly excludes any potential fallout from the Middle East conflict.
The strain was front and centre at the company’s annual general meeting on 23 June. Shareholders voted through all resolutions unanimously, granting discharge to both the management and supervisory boards. But the approval came with sharp criticism. Ingo Speich of Deka urged faster progress on the turnaround. In response, CEO Michael Leiters outlined the broad strokes of the “Strategy 2035” plan, placing the focus on the 911’s sportscar DNA, a reduction in model variants, and a leaner corporate structure. A fully electric 911 is off the table; instead, hybrids will remain central, while the Cayenne Electric is positioned as the key battery-electric vehicle. The full strategy presentation is scheduled for the Capital Markets Day on 7 October.
With the stock now trading just below its 200-day moving average of €43.47, the technical picture remains precarious. The relative strength index sits at 35.2 — close to oversold territory — and the next major support lies 18% lower at the 52-week trough of €35.22.
The immediate catalysts are just weeks away. Porsche will hold a pre-close call on 10 July to give initial signals on first-half performance, followed by the full half-year financial report on 29 July. Leiters has also promised that the key points of the cost-saving programme will be set before the July factory shutdown. For a stock already nursing a double-digit weekly loss, those numbers will decide whether a stabilisation is in sight — or whether the decline has further to run.
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Porsche AG Stock: New Analysis - 28 June
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