Chart with the ratio of Porsche Holding market cap to its carrying value of assets on Volkswagen (31% of equity). This ratio should be (at least) 1 if Porsche Holding is priced to net assets value and assuming no losses elsewhere.
Chart with the ratio of Porsche Holding market cap to its assets on Volkswagen (31% of equity). This ratio should be (at least) 1 if Porsche Holding is priced to net assets value, but the market has been given a discount of about 25% to the assets that Porsche owns as the chart shows through the 980 days moving average of the ratio.
