Based on my research, here's a brief fundamental analysis and DCF valuation of Porsche Automobil Holding SE (PAH3): Fundamental Analysis Business Model: Porsche SE is a holding company that owns 52.2% of Volkswagen AG (including 12 brands: Audi, Bentley, Bugatti, Ducati, Lamborghini, MAN, Porsche, Scania, SEAT, ŠKODA, Volkswagen Commercial Vehicles and Volkswagen Passenger Cars) and has investments in mobility and industrial technology 2024 Financial Performance: Profit after tax: €2.51 billion (9M 2024), down 34% YoY from €3.8 billion 2024 full-year profit forecast: €2.4-4.4 billion range Net debt projected: €5.0-5.5 billion by year-end 2024 2024 dividend: €1.910 per preferred share, €1.904 per ordinary share Key Challenges: Expected significant non-cash impairment losses on VW and Porsche AG investments for 2024, making group result after tax significantly negative Trading at 29.8% discount to NAV Heavy reliance on dividends from VW and Porsche AG for debt servicing DCF Valuation Current Market Data: Current stock price: €36.77 (as of April 28, 2025) Analyst average price target: €45.78 (range: €35-78) DCF Analysis: PAH3's DCF value cannot be reliably calculated due to the holding company structure and irregular cash flow patterns. However, alternative valuation approaches suggest: Intrinsic value estimate: $6.849 USD (€6.40 approx.) - shows 26% undervaluation based on multiples-only approach Analyst consensus implies 31.74% upside potential to €45.78 Investment Thesis: Strengths: Exposure to leading automotive brands, solid dividend history, trading at discount to NAV Risks: High leverage (€5.3B net debt), impairment charges, dependence on underlying holdings' performance Conclusion: PAH3 appears undervalued at current levels, but traditional DCF valuation is challenging due to its holding company structure.Read more

Alibaba delivered solid FY2025 results with revenue growing 6% to RMB 996.3 billion ($137.3B). Key highlights include core e-commerce (Taobao/Tmall) customer management revenue growing 12%, Cloud Intelligence revenue accelerating to 18% growth, and AI-related products achieving triple-digit growth for the seventh consecutive quarter.Read more