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If I have 5 branches / shops that together form 1 fiscal entity, I can then share 1 warehouse from which these companies can sell. I also don't want to use current account or intercompany postings. Or do I have to create 5 warehouses in Odoo? I actually don't want the latter, because I want to share 1 warehouse with 5 sales organizations.

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multiple warehouses would actually be ideal. Stock levels would be based on all the locations combined and you can see and sell from whats in individual warehouses. Locations also work too

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You could have 1 warehouse with 5 sales teams, if have shops with products you could define them as locations in WH

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