VfB Stuttgart
1. Bundesliga
62
Robust
BETA
Key Metrics
Revenue
€220M
Personnel Cost Ratio
50%
Squad Value
€300M
Stadium
MHPArena
Leased (City of Stuttgart) · 60,449
Stuttgart Reloaded: surprise runners-up 2024, Champions League, a squad that tripled in value in one season. €220M revenue, MHPArena leased from the city. The €300M squad value is built on a player development machine.
The 50% personnel cost ratio is disciplined. Stuttgart have an investor (Porsche holds indirect stakes), but influence is limited. The risk: Stuttgart upswings are historically short-lived — the club has a tradition of crashing after flying high.
Robust, but with a volatility warning: CL revenues are not sustainably guaranteed.
Full Financial X-Ray in preparation.