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MBLY

Mobileye Global Inc.HOLD
Automotive - ADAS / Autonomous Driving · framework=ev-ebitda · peers=NVDA, APTV, ON, AMBA
Preis
$8.69
Fair Value (blended)
$9.00
Upside
+3.6%
Confidence 0.48
Snapshot
01.05.2026
heute

Chart & Einstieg

Lade Chart …

Forward Fair Value · Calculator

%
Claude: 8.80 %
bps/Jahr
Claude: 200 bps/Jahr
x
Claude: 16.0 x
%
Claude: 20.00 %
JahrClaude FVDeine FVΔ FVRevenue (Deine)Margin (Deine)Upside ClaudeUpside Deine
Ende 2026$0.00$0.00$2B+12.0%-100.0%-100.0%
Ende 2027$0.00$0.00$2.3B+16.0%-100.0%-100.0%
Ende 2028$0.00$0.00$2.7B+20.0%-100.0%-100.0%

Historie (5 Jahre)

Lade Historie …

Begründung

Mobileye delivered a strong Q1 2026 beat: revenue $558M (+27% YoY) vs $519M consensus, driven by EyeQ SoC volume ramp and Chinese OEM export tailwinds. Full-year 2026 guidance was raised to $1.935-2.015B, and a $250M share repurchase program was announced, signalling management confidence at current valuations. The $3.8B goodwill impairment (non-cash) related to the Mentee Robotics acquisition distorted GAAP EPS to -$4.68 but does not affect operating cash generation ($75M Q1 OCF). At FV $9.00 (15-18x adj EBITDA, $400M run-rate), the stock offers only 3.6% upside at $8.69, with the Intel 77% ownership overhang and ADAS competition from NVDA Drive and Tesla remaining structural headwinds. HOLD with a path to ACCUMULATE if SuperVision design wins accelerate toward 18%+ EBITDA margins.

These · aktualisiert 01.05.2026

Bull Case

Q1 2026 confirmed ADAS volume recovery is real: revenue $558M (+27% YoY) beat estimates by $42M on EyeQ SoC volume ramp and Chinese OEM export tailwinds. FY2026 guidance was raised to $1.975B midpoint with a new $250M share repurchase program — signals management confidence at current $8.69 valuation. Three new Surround ADAS design wins (Volkswagen, major US OEM, Mahindra) at $100-150 ASP vs legacy $40-60 add >10% annual revenue when launched. Net cash $620M after Mentee Robotics acquisition provides flexibility. At 32x forward P/E on $1.975B revenue, the stock re-rates on SuperVision ramp and Chauffeur (Eyes-Off) launch in H2 2026.

Bear Case

The $3.8B goodwill impairment is a management signal that future cash flows are being revised downward — not a trivial concern. Intel's 77% ownership stake creates a persistent spinoff overhang: any new tranche offering depresses the stock for weeks. The ADAS competitive landscape is intensifying: NVDA Drive Hyperion, Tesla FSD as licensed product, and Chinese in-house solutions (Huawei CarOS, BYD ADS) are all eroding legacy EyeQ ASP advantage in the mass-market segment. If Chinese OEM export volumes reverse due to US tariff escalation, the Q1 tailwind becomes a Q2-Q3 headwind.

Catalysts

Q2 2026 Earnings (July): Validation of FY2026 guidance trajectory and first SuperVision volume contribution. Chauffeur Eyes-Off Highway roll-out H2 2026. Further Intel spinoff tranches and scale of demand. Mentee Robotics robotics platform introduction. TD Cowen raised PT to $16; additional upgrades possible if Q2 beats.

Risks

1) Intel spinoff tranches: ~73% of MBLY shares held by Intel represent a structural supply overhang. Each divestiture tranche of 5-10% creates months of downward pressure. 2) Chinese OEM export risk: US export controls on automotive semiconductors to China could eliminate the Q1 2026 demand tailwind that drove the beat. 3) Goodwill impairment cycle: $3.8B impairment indicates management's own DCF revisions are significant — risk of further impairments if Mentee integration disappoints.

Snapshot-History

DatumPreisMarket CapP/ERev TTMRev GrowthEBITDA-Marge
01.05.2026$8.69$7.3B$2.1B+8.8%+10.0%

News

  • 01.05.2026●●●
    Mobileye Q1 2026 Revenue Up 27% to $558M, Lifts FY26 Outlook

    Q1 2026 Revenue $558M (+27% YoY), FY26-Guidance auf $1.975B angehoben. $250M Share-Repurchase-Programm angekündigt, Mahindra als zweiter SuperVision-Kunde gewonnen.

    Mobileye IR
  • 01.05.2026●●●
    Mobileye Records $3.8B Goodwill Impairment in Q1 2026

    Non-Cash-Goodwill-Impairment von $3.79B führt zu Net-Loss von $3.82B im Q1 2026. Ausgelöst durch ~35% Aktienkurs-Rückgang und höhere Diskontraten.

    StockTitan
  • 01.05.2026●●○
    Mobileye Acquires Mentee Robotics for $591M Cash

    Mobileye übernimmt Mentee Robotics, eine AI-First-Humanoid-Robotics-Firma. Erweitert Mission über Automotive hinaus auf Robotik-Plattformen.

    Grafa
  • 01.05.2026●●○
    Motley Fool: Ugly Earnings Mask Powerful ADAS Growth Story

    Analysten sehen unter dem Headline-Verlust eine starke ADAS-Wachstumsstory. Intel-Backed-Upside und China-Export-Stärke werden als Trigger benannt.

    Motley Fool
  • 23.04.2026Snap: 01.05.2026●●●
    Mobileye Q1 2026 Revenue $558M (+27% YoY) Beats, Raises FY2026 Guidance to $1.975B

    Mobileye beat Q1 2026 consensus: revenue $558M vs $519M expected, adj EPS $0.12 vs $0.09 estimated. Revenue grew 27% YoY on EyeQ SoC volume ramp and Chinese OEM export demand. FY2026 guidance raised to $1.935-2.015B (midpoint $1.975B). $250M share repurchase announced. $3.8B goodwill impairment (Mentee Robotics) is non-cash; operating cash flow remained positive at $75M. Stock +11.7% on day.

    BusinessWire
  • 23.04.2026Snap: 01.05.2026●●○
    Mobileye Takes $3.8B Goodwill Impairment in Q1 2026, GAAP EPS -$4.68

    Mobileye recorded a $3.8B non-cash goodwill impairment in Q1 2026 related to its Mentee Robotics acquisition, resulting in GAAP net loss of $3.8B and EPS of -$4.68. Management emphasized the impairment reflects future cash flow revisions, not operating deterioration. Adjusted metrics show positive trajectory. Intel 77% ownership overhang continues to weigh on valuation optionality.

    TradingView