Mobileye Global Inc. (MBLY)

Price$8.50Cached quoteAs of 2026-09-04 16:23 UTC

AI: Fair-priced

Price checkThe shares look roughly fair because low cash-based multiples are offset by costly dilution and slower growth.

At the observed quote, Mobileye’s equity value is about $7.3 billion. Using the supplied 2025 history, free cash flow—cash left after running and investing in the business—was about $523 million, or roughly 14 times equity value. Subtracting $1.4 billion of reported cash, securities and deposits leaves about $5.9 billion before other adjustments, around 15 times the midpoint of 2026 adjusted operating-profit guidance. However, that measure excludes $396 million of guided stock compensation, nearly equal to adjusted operating profit. That makes the discount real, but not obviously excessive.

Big pictureMobileye is recovering from its inventory slump, but growth remains uneven and tied to automaker launch cycles.

Revenue recovered from $1.65 billion in 2024 to $1.89 billion in 2025, while operating cash flow remained positive at $400 million and $602 million. In the first half of 2026, revenue rose 13% and system shipments rose 15%; SuperVision revenue jumped 181%. Yet Q2 revenue was flat year over year, and management expected a 5%-6% Q3 revenue decline. Q2 gross margin also fell to 46% from 50%, mainly because China-heavy sales lowered pricing and SuperVision carries more hardware cost. That is real automaker-cycle volatility, not just accounting noise.

Business strengthA large installed base, strong liquidity, and positive cash generation give Mobileye room to fund its technology bets.

Operating cash flow has been positive in every supplied year from 2020 through 2025, even through the 2024 customer-inventory correction. At Q2 2026, Mobileye reported $1.4 billion of cash, marketable securities and deposits; supplied current assets were $2.08 billion versus $452 million of current liabilities. More than 258 million vehicles had used its chips, and it was working with over 50 automakers. Reported earnings look worse than cash economics because Q1 included a $3.79 billion noncash goodwill write-down. Still, recent profitability benefited materially from a new Israeli research incentive.

What could change the storyBetter advanced-system launches could unlock upside, while robotics spending and founder succession could consume the current discount.

Bull case: advanced products become meaningfully more profitable. The new Stellantis cloud-enhanced program starts in 2027, and Mobileye says gross profit per unit should exceed twice its current base driver-assistance profitability. Bear case: capital allocation keeps outrunning proven returns. The Mentee Robotics purchase used roughly $591 million of net cash and issued about 26.3 million shares, while 2026 stock-compensation guidance is $396 million. Only $24 million of the $250 million buyback authorization had been used by Q2. Founder Amnon Shashua’s planned CEO exit adds execution risk just as robotaxi spending begins.

AI: News

Founder plans CEO exitAmnon Shashua plans to leave the chief executive role, raising execution questions during a major strategy expansion.

On July 23, 2026, Mobileye said founder Amnon Shashua would step down once a successor is appointed; he will remain a director and was offered the chairman role. Reuters reported the shares fell about 15% that day, the sharpest drop since August 2024. The same session also contained a weak Q3 revenue outlook, so the decline cannot be cleanly attributed to leadership alone. The transition matters because Mobileye is simultaneously expanding into robotaxis and humanoid robotics, where capital allocation and technical priorities are unusually important.

Q2 beat, Q3 slowsSecond-quarter results beat expectations, but a near-term revenue decline showed that the recovery is still uneven.

On July 23, Q2 revenue was $508 million, roughly flat year over year, while adjusted profit improved. Full-year revenue guidance was narrowed to $1.97-$2.02 billion and its midpoint was lifted by $20 million. However, Reuters reported management expected Q3 revenue to fall 5%-6%, which was weaker than investors expected. The quarter also included about $110 million of Israeli research incentives covering the first half. That support improves economics, but it means the headline margin jump overstates purely operating improvement.

Robotaxi business launchMobileye chose to run its own robotaxi service, adding upside but also a costly new operating responsibility.

On June 16, 2026, Mobileye announced plans to launch a vertically integrated U.S. robotaxi service in 2027, starting with about 100 vehicles and targeting roughly 17,000 over five years. Reuters reported the shares rose more than 2% that day; the timing is consistent with a positive reaction but does not prove causation. The strategic change matters because Mobileye moves from mainly supplying technology to owning fleet operations, which could capture more revenue per vehicle but requires more capital, logistics capability and operating execution.

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Revenue

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2024

2025

Net income

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2025

Free cash flow

2020

2021

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Total cash / debt

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Financial statements

	2025	2024	2023	2022	2021	2020
Revenue	$1.89B	$1.65B	$2.08B	$1.87B	$1.39B	$967.0M
Gross profit	$904.0M	$741.0M	$1.05B	$922.0M	$655.0M	$376.0M
Gross margin	47.73%	44.80%	50.36%	49.33%	47.26%	38.88%
Research & development	$1.15B	$1.08B	$889.0M	$789.0M	$544.0M	$440.0M
Operating expenses	$1.34B	$3.97B	$1.08B	$959.0M	$712.0M	$589.0M
Operating income	−$440.0M	−$3.23B	−$33.0M	−$37.0M	−$57.0M	−$213.0M
Operating margin	−23.23%	−194.98%	−1.59%	−1.98%	−4.11%	−22.03%
EBITDA	−$366.0M	−$3.16B	$6.0M	−$14.0M	−$40.0M	−$200.0M
EBITDA margin	−19.32%	−191.23%	0.29%	−0.75%	−2.89%	−20.68%
Net income	−$392.0M	−$3.09B	−$27.0M	−$82.0M	−$75.0M	−$196.0M
Net profit margin	−20.70%	−186.82%	−1.30%	−4.39%	−5.41%	−20.27%
Basic EPSper basic share	-$0.48	-$3.82	-$0.03	-$0.11	-$0.10	-$0.26
Diluted EPSper diluted share	-$0.48	-$3.82	-$0.03	-$0.11	-$0.10	-$0.26

Review official source filings ↗

Owners

Reported shareholders

Reference date Jun 30, 2026

≈20.64%of listed shares

Intel Corp50M shares · Jun 30, 2026

View holders

Top 20 reported holders of MBLY
Holder	% owned
Intel Corp	≈20.64%50M shares
Shashua Amnon	≈8.47%20.52M shares
TWO SIGMA INVESTMENTS, LP	≈4.22%10.22M shares
MANUFACTURERS LIFE INSURANCE COMPANY, THE	≈4.01%9.71M shares
GOLDMAN SACHS GROUP INC	≈2.96%7.18M shares
Shalev-Shwartz Shai	≈2.91%7.05M shares
BlackRock, Inc.	≈2.65%6.42M shares
Point72 Asset Management, L.P.	≈2.02%4.89M shares
Assenagon Asset Management S.A.	≈2.00%4.84M shares
UBS Group AG	≈1.85%4.49M shares
MORGAN STANLEY	≈1.59%3.84M shares
Harel Insurance Investments & Financial Services Ltd.	≈1.48%3.59M shares
RENAISSANCE TECHNOLOGIES LLC	≈1.47%3.56M shares
PRIMECAP MANAGEMENT CO/CA/	≈1.41%3.42M shares
MACKENZIE FINANCIAL CORP	≈1.23%2.99M shares
DNB Asset Management AS	≈1.07%2.58M shares
VICTORY CAPITAL MANAGEMENT INC	≈0.97%2.36M shares
GEODE CAPITAL MANAGEMENT, LLC	≈0.92%2.22M shares
BANK OF AMERICA CORP /DE/	≈0.91%2.2M shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP	≈0.89%2.16M shares

Percentages use 242.21M shares of this listed class outstanding on Jun 27, 2026. ≈ compares the latest reported holding with a share total from a different date; it is not a confirmed current stake.

Gray completes the 100% scale. Reported positions may overlap; holders have different reporting dates.

Source: SEC Form 13F ↗Updated Sep 29, 2026 · Quarterly data

Insider buys & sells

Jul 1, 2024–Jun 30, 2026

Buys4$10.63M disclosed value

Sells (SEC code S)3$1.02B disclosed value

Transaction	Insider	Type	Shares	Price	Value	Owned after
Jul 11, 2025Form 4	INTEL CORPTenPercentOwner	SellClass A Common Stock · indirect	6.23M	$16.05	$100.02M	50.00M
Jul 11, 2025Form 4	INTEL CORPTenPercentOwner	SellClass A Common Stock · indirect	57.50M	$16.05	$922.88M	56.23M
May 15, 2025Form 4	Ouriel BoazEVP of EPG Software	SellClass A Common Stock	67.5K	$16.09	$1.09M	107.9K
Nov 4, 2024Form 4	GELSINGER PATRICK PDirector	BuyClass A Common Stock · indirect	6.8K	$14.94	$100.8K	139.5K
Aug 5, 2024Form 4	GELSINGER PATRICK PDirector	BuyClass A Common Stock · indirect	6.4K	$15.48	$99.1K	139.1K