PitchBook-2024年四季度移动技术公开报表和估值指南（英）_7页_498kb

报告摘要

Tesla was the standout in mobility tech with a significant stock performance increase in the fourth quarter, driven by expectations of a favorable regulatory environment under President-elect Donald Trump. However, the company faced an annual decline in automotive sales and a muted response to its Robotaxi event in October.
Boeing showed a strong performance in aerospace comps, rising 16% in the quarter, despite a sharp overall decline for the year.
Rivian and SAIC Motor both experienced strong appreciation in the electric vehicle (EV) comp segment, with increases of 25% and 36% respectively.
Uber had a volatile year, with a decline of 17% in the quarter and overall multiple compression due to strong revenue and EBITDA growth.

Company	1 Week	30 Days	90 Days	1 Year	3 Years	5 Years
Textron	-1%	-11%	-12%	-5%	-1%	68%
Boeing	-1%	14%	16%	-30%	-12%	-47%
Lockheed Martin	0%	-8%	-19%	7%	37%	22%
Mitsubishi Heavy Industries	0%	-3%	-8%	142%	509%	263%
Parker Hannifin	-3%	-10%	1%	39%	100%	203%
Airbus	1%	3%	14%	3%	27%	8%
Mean	-3%	-2%	-1%	26%	110%	-40%
Median	-2%	-6%	-4%	5%	32%	-86%

Company	1 Week	30 Days	90 Days	1 Year	3 Years	5 Years
Carvana	-9%	-22%	15%	316%	-12%	110%
CarMax	-4%	-3%	8%	N/A	-37%	-9%
CarGurus	0%	-3%	25%	55%	9%	0%
Cars.com	0%	-13%	8%	-6%	8%	43%
Sonic Automotive	-1%	-8%	12%	13%	28%	101%
Penske	-3%	-8%	-4%	-5%	42%	204%
Lithia	-2%	-8%	16%	10%	20%	143%
AutoNation	-2%	-5%	-2%	13%	45%	247%
Group 1	-1%	-1%	13%	38%	116%	319%
Mean	-3%	-8%	10%	54%	24%	-44%
Median	-2%	-8%	12%	13%	20%	20%

Company	1 Week	30 Days	90 Days	1 Year	3 Years	5 Years
Teledyne	-2%	-4%	5%	6%	6%	30%
Luminar	4%	-39%	-58%	-89%	-98%	N/A
AEye	12%	12%	15%	-41%	-99%	N/A
Innoviz	1%	121%	109%	-35%	-74%	N/A
Mean	4%	22%	18%	-40%	-66%	30%
Median	2%	4%	10%	-38%	-86%	30%

Company	1 Week	30 Days	90 Days	1 Year	3 Years	5 Years
Aurora	-11%	-3%	16%	69%	-44%	N/A
TomTom	0%	-7%	-6%	-25%	-50%	-52%
Alphabet	-4%	12%	14%	36%	32%	179%
Tesla	-13%	17%	62%	63%	15%	1308%
Mean	-7%	5%	21%	36%	-12%	478%
Median	-7%	5%	15%	50%	-15%	179%

Company	1 Week	30 Days	90 Days	1 Year	3 Years	5 Years
NavInfo	-9%	-2%	-1%	7%	-47%	-44%
Move About	-2%	-3%	2%	-35%	-53%	-7%
Mean	-5%	-3%	0%	-14%	-50%	-26%
Median	-5%	-3%	0%	-14%	-50%	-26%

Company	1 Week	30 Days	90 Days	1 Year	3 Years	5 Years
Youon Bike	-7%	-18%	10%	-12%	-45%	-15%
Segway-Ninebot	5%	6%	-5%	61%	-41%	N/A
Mean	-1%	-6%	2%	24%	-43%	-15%
Median	-1%	-6%	2%	24%	-43%	-15%

Company	1 Week	30 Days	90 Days	1 Year	3 Years	5 Years
Uber	-2%	-16%	-17%	3%	44%	95%
Lyft	-7%	-26%	3%	-7%	-70%	-70%
Toosla	-3%	-6%	-28%	-22%	-81%	N/A
DiDi Global	-1%	-3%	-3%	18%	-8%	N/A
Mean	-3%	-13%	-11%	-2%	-29%	12%
Median	-3%	-11%	-10%	-2%	-39%	12%

Company	1 Week	30 Days	90 Days	1 Year	3 Years	5 Years
Tesla	-13%	17%	62%	63%	15%	1308%
Toyota	10%	0%	11%	9%	9%	41%
Ford	-1%	-11%	-6%	-19%	-52%	5%
General Motors	0%	-4%	19%	48%	-9%	43%
Volkswagen	0%	8%	-10%	-26%	-54%	-54%
Rivian	-5%	9%	25%	-37%	-87%	N/A
Lucid Motors	-6%	39%	-10%	-27%	-92%	N/A
ChargePoint	-8%	-12%	-18%	-51%	-94%	N/A
EVgo	-5%	-38%	3%	23%	-59%	N/A
SAIC Motor	11%	17%	36%	50%	-12%	-18%
Mean	2%	11%	3%	-44%	221%	-44%
Median	4%	7%	-5%	-53%	23%	-54%

Index	1 Week	30 Days	90 Days	1 Year	3 Years	5 Years
S&P 500	-3%	-2%	3%	24%	23%	81%
Nasdaq	-4%	0%	8%	31%	23%	112%
Russell 2000 Index	-1%	-8%	2%	11%	-1%	34%
S&P 500 Information Technology	-1%	-6%	7%	28%	24%	56%
Mean	-2%	-4%	5%	23%	17%	71%
Median	-2%	-4%	5%	26%	23%	68%

Company	21A (Revenue)	22A (Revenue)	23A (Revenue)	22A (EV/Revenue)	23A (EV/Revenue)	24E (EV/Revenue)
Textron	$12.38	$12.87	$13.68	1.0x	1.1x	1.3x
Boeing	$62.29	$66.61	$77.79	2.1x	2.4x	2.6x
Lockheed Martin	$67.04	$65.98	$67.57	1.9x	1.9x	1.7x
Mitsubishi Heavy Industries	$34.89	$34.36	$31.04	0.7x	0.7x	0.6x
Parker Hannifin	$14.35	$15.86	$19.07	1.9x	2.7x	3.1x
Airbus	$61.66	$61.78	$70.82	1.3x	1.5x	1.5x
Mean	1.5x	1.7x	1.8x	1.8x	2.1x	-44%
Median	1.6x	1.7x	1.6x	1.7x	1.7x	-86%

Company	21A (Revenue)	22A (Revenue)	23A (Revenue)	22A (EV/Revenue)	23A (EV/Revenue)	24E (EV/Revenue)
Carvana	$3.94	$5.59	$10.77	1.4x	2.8x	3.0x
CarMax	$18.95	$31.90	$29.68	1.5x	1.6x	1.2x
CarGurus	$0.95	$1.66	$0.91	7.7x	6.6x	5.5x
Cars.com	$0.62	$0.65	$0.69	2.8x	2.4x	2.3x
Sonic Automotive	$12.40	$14.00	$14.37	0.3x	0.4x	0.4x
Penske	$25.55	$27.81	$29.53	0.5x	0.6x	0.6x
Lithia	$22.83	$28.19	$31.04	0.5x	0.7x	0.6x
AutoNation	$15.43	$25.84	$26.99	0.5x	0.5x	0.6x
Group 1	$11.03	$13.48	$16.22	0.4x	0.5x	0.4x
Mean	1.7x	1.8x	1.7x	1.1x	1.3x	2.2x
Median	0.5x	0.7x	0.8x	0.6x	0.6x	0.5x

Company	21A (EBITDA)	22A (EBITDA)	23A (EBITDA)	EBITDA Margin
Textron	$1.41	$1.57	$1.73	11%
Boeing	$1.40	-$2.46	$0.68	12%
Lockheed Martin	$10.88	$10.60	$10.56	16%
Mitsubishi Heavy Industries	$2.18	$2.35	$2.49	21%
Parker Hannifin	$3.02	$3.59	$4.35	23%
Airbus	$9.31	$8.82	N/A	23%
Mean	12%	11%	11%	12%
Median	13%	13%	13%	13%

Company	21A (EBITDA)	22A (EBITDA)	23A (EBITDA)	EBITDA Margin
Carvana	$0.03	-$1.61	N/A	0%
CarMax	$0.47	$0.77	-$0.11	2%
CarGurus	$0.27	$0.19	$0.20	28%
Cars.com	$0.19	$0.19	N/A	30%
Sonic Automotive	$0.64	$0.75	$0.64	23%
Penske	$1.85	$2.11	$1.83	5%
Lithia	$1.87	$2.12	$2.00	28%
AutoNation	$2.10	$2.23	$1.91	5%
Group 1	$0.97	$1.15	$1.07	18%
Mean	11%	7%	6%	11%
Median	7%	8%	6%	7%

Company	19A	20A	21A	22A	23A	24E
Textron	8x	9x	16x	11x	11x	12x
Boeing	21x	19x	-29x	-233x	-152x	47x
Lockheed Martin	13x	13x	11x	14x	14x	14x
Mitsubishi Heavy Industries	8x	8x	8x	8x	9x	16x
Parker Hannifin	11x	14x	16x	16x	19x	18x
Airbus	12x	36x	1x	9x	13x	15x
Mean	11%	11%	11%	12%	11%	11%
Median	7%	8%	6%	7%	8%	10%

Stock performance varied significantly across mobility tech segments, with Tesla leading in the fourth quarter due to political and regulatory expectations, while other segments showed mixed results.
Revenue growth was notable in some segments, particularly in electric vehicles and auto commerce, though many companies experienced volatility or declines.
EBITDA margins indicated mixed profitability, with some companies showing improvement while others faced challenges.
The report highlights the importance of understanding the financial metrics and performance trends within the mobility tech sector, offering insights for investors and analysts.

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