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Loading chart...Stellantis (STLA) Market Cap The chart above shows the market cap trajectory since 2021. The stock peaked near $25/share in early 2024 and has since fallen by roughly 50–60%, with the latest reading around $10–11/share, implying a market cap in the ~$32–35B range.

Why it has dropped so much

The decline is the result of a compounding series of earnings, management, and policy shocks rather than a single event:

September 2024 profit warning: Stellantis slashed its 2024 guidance, cutting its adjusted operating margin forecast from double-digits to 5.5–7.0% and warning of €5–10B in negative industrial free cash flow. Shares fell ~14% in a single day and have never recovered.
North American collapse: Bloated U.S. dealer inventory (especially older Ram/Jeep/Chrysler models), heavy discounting, and weak launches forced Stellantis to ship ~200,000 fewer vehicles to North America in H2 2024. North America had been the company's most profitable region, so the margin hit was severe.
CEO Carlos Tavares ousted (Dec 2024): Tavares resigned over a year early amid board clashes over brand strategy and the deteriorating financials. The leadership vacuum unnerved investors.
2024 results (Feb 2025): Full-year net profit fell 70% YoY to €5.5B, revenue down 17%, and the dividend was cut — the cash-flow story that had supported the bull case broke.
Trump tariffs (2025): With ~40% of U.S. sales sourced from Mexico/Canada, Stellantis was hit disproportionately by 25% tariffs. H1 2025 swung to a €2.3B net loss; full-year 2025 tariff impact was guided to €1.5B. Production was cut in Canada and Mexico.
2025 net loss and dividend suspension (Feb 2026): Stellantis reported a €22.3B ($26.3B) annual net loss — driven mainly by €25.4B in write-downs from scaling back its EV strategy ("over-estimating the pace of the energy transition"), plus warranty and restructuring charges. The company suspended the dividend.
Persistent cash burn: Even after a Q1 2026 profit rebound, industrial free cash flow remained €1.9B negative, and free cash flow isn't expected to turn positive until 2027 — keeping sentiment weak.

The cumulative story: a high-margin North American business undermined by inventory and product gaps, layered with management turnover, U.S. trade tariffs, and an EV strategy reset that required massive write-downs.