Continental’s automotive parts business, Aumovio, has been listed separately, while the remainder of Continental includes Continental Tires and ContiTech, set to be sold in 2026. Despite similar revenue sizes, Continental’s value is mainly attributed to its tire business, which is a mature, less cyclical segment generating three-quarters of revenue from replacements.

Continental, smaller than Michelin and Bridgestone, boasts top profitability and asset efficiency metrics. A fair value estimate of EUR 78 per share is attributed to the no-moat Continental following restructuring. The new Continental is expected to appeal to investors seeking steady dividends, with room for additional dividends or share repurchases once corporate activity settles.

Read more at Morningstar: A Highly Cash-Generative, Less Cyclical Business Following the Aumovio Spinoff