DHER Stock Analysis: Delivery Hero SE | XETRA
Internet Retail | XETRA, Germany | Market Cap: 11.474m EUR | 12M Return: 86.4% | DE000A2E4K43 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 15.3M
Qual. Beats: 0
Rev. Trend: 97.0%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 9.2 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Delivery Hero SE (DHER) is a Berlin-headquartered online food ordering and delivery platform founded in 2011. The company operates across approximately 70 countries spanning Asia, the Middle East, Africa, Europe, and Latin America, and also generates revenue through advertising services offered to restaurant and merchant partners on its platforms.
The company sits within the Internet & Direct Marketing Retail sub-industry of Consumer Discretionary, operating a marketplace-based business model that connects restaurants, grocery retailers, and convenience stores with end consumers via its apps and websites. Beyond traditional restaurant delivery, Delivery Hero is active in quick commerce (q-commerce), an emerging segment focused on ultrafast delivery of convenience and grocery items, often from dark stores and local fulfillment hubs. Revenue in this sector is typically generated through a mix of customer delivery fees, commission charges from partner merchants, and ancillary services such as advertising and sponsored listings.
- GMV growth accelerates in Asia and MENA quick commerce segment
- Talabat IPO and Middle East expansion boost valuation
- Europe food delivery margins improve amid competitive rationalization
| Net Income: -779.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.01 > 0.02 and ΔFCF/TA -5.38 > 1.0 |
| NWC/Revenue: 1.82% < 20% (prev 4.22%; Δ -2.40% < -1%) |
| CFO/TA 0.00 > 3% & CFO 31.1m > Net Income -779.0m |
| Net Debt (3.12b) to EBITDA (388.2m): 8.03 < 3 |
| Current Ratio: 1.07 > 1.5 & < 3 |
| Outstanding Shares: last quarter (303.8m) vs 12m ago 4.71% < -2% |
| Gross Margin: 19.62% > 18% (prev 25.20%; Δ -5.59% > 0.5%) |
| Asset Turnover: 136.4% > 50% (prev 94.13%; Δ 42.24% > 0%) |
| Interest Coverage Ratio: -0.16 > 6 (EBIT TTM -66.5m / Interest Expense TTM 427.7m) |
| A: 0.02 (Total Current Assets 4.06b - Total Current Liabilities 3.79b) / Total Assets 10.9b |
| B: -1.08 (Retained Earnings -11.8b / Total Assets 10.9b) |
| C: -0.01 (EBIT TTM -66.5m / Avg Total Assets 10.9b) |
| D: 0.13 (Book Value of Equity 1.22b / Total Liabilities 9.57b) |
| Altman-Z'' = -3.26 = D |
| DSRI: 0.62 (Receivables 679.2m/759.0m, Revenue 14.9b/10.3b) |
| GMI: 1.28 (GM 25.20% / 19.62%) |
| AQI: 0.99 (AQ_t 0.55 / AQ_t-1 0.56) |
| SGI: 1.45 (Revenue 14.9b / 10.3b) |
| TATA: -0.07 (NI -779.0m - CFO 31.1m) / TA 10.9b) |
| Beneish M = -2.78 (Cap -4..+1) = A |
As of November 08, 2026, the stock is trading at EUR 37.00 with a total of 296,696 shares traded. Over the past week, the price has changed by -0.80%, over one month by +1.09%, over three months by +0.11% and over the past year by +86.40%.
Current recommended Stop Loss: 36.30 (which is 1.9% or 2.1 ATR below the current price).
Delivery Hero SE has no consensus analysts rating.
P/E Forward = 66.6667
P/S = 0.7684
P/B = 9.4468
Revenue TTM = 14.9b EUR
EBIT TTM = -66.5m EUR
EBITDA TTM = 388.2m EUR
Long Term Debt = 4.77b EUR (from longTermDebt, last quarter)
Short Term Debt = 168.3m EUR (from shortTermDebt, last quarter)
Debt = 5.81b EUR (from shortLongTermDebtTotal, last quarter) + Leases 502.4m
Net Debt = 3.12b EUR (calculated: Debt 5.81b - CCE 2.70b)
Enterprise Value = 14.6b EUR (11.5b + Debt 5.81b - CCE 2.70b)
Interest Coverage Ratio = -0.16 (Ebit TTM -66.5m / Interest Expense TTM 427.7m)
EV/FCF = -126.3x (Enterprise Value 14.6b / FCF TTM -115.5m)
FCF Yield = -0.79% (FCF TTM -115.5m / Enterprise Value 14.6b)
FCF Margin = -0.77% (FCF TTM -115.5m / Revenue TTM 14.9b)
Net Margin = -5.22% (Net Income TTM -779.0m / Revenue TTM 14.9b)
Gross Margin = 19.62% ((Revenue TTM 14.9b - Cost of Revenue TTM 12.0b) / Revenue TTM)
Gross Margin QoQ = 18.46% (prev 20.86%)
Tobins Q-Ratio = 1.33 (Enterprise Value 14.6b / Total Assets 10.9b)
Interest Expense / Debt = 7.36% (Interest Expense 427.7m / Debt 5.81b)
Taxrate = 25.0% (non-US conservative default 25%)
NOPAT = -49.9m (EBIT -66.5m * (1 - 25.00%)) [loss with tax shield]
Current Ratio = 1.07 (Total Current Assets 4.06b / Total Current Liabilities 3.79b)
Debt / Equity = 4.76 (Debt 5.81b / totalStockholderEquity, last quarter 1.22b)
Debt / EBITDA = 8.03 (Net Debt 3.12b / EBITDA 388.2m)
Debt / FCF = -26.98 (negative FCF - burning cash) (Net Debt 3.12b / FCF TTM -115.5m)
Total Stockholder Equity = 1.81b (last 4 quarters mean from totalStockholderEquity)
RoA = -7.11% (Net Income -779.0m / Total Assets 10.9b)
RoE = -42.96% (Net Income TTM -779.0m / Total Stockholder Equity 1.81b)
RoCE = -1.01% (EBIT -66.5m / Capital Employed (Equity 1.81b + L.T.Debt 4.77b))
RoIC = -0.76% (negative operating profit) (NOPAT -49.9m / Invested Capital 6.57b)
WACC = 8.35% (E(11.5b)/V(17.3b) * Re(9.79%) + D(5.81b)/V(17.3b) * Rd(7.36%) * (1-Tc(0.25)))
Discount Rate = 9.79% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 96.10 | Cagr: 6.55%
[DCF] Fair Price = unknown (Cash Flow -115.5m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: 97.00 | Revenue CAGR: 24.46% | SUE: 1.73 | # QB: 1
EPS current Quarter (2026-03-31): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS next Quarter (2026-06-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS current Year (2025-12-31): EPS=0.51 | Chg30d=+4.85% | Revisions=-12% | GrowthEPS=+127.5% | GrowthRev=+15.6%
EPS next Year (2026-12-31): EPS=-1.07 | Chg30d=-506.58% | Revisions=-25% | GrowthEPS=+19.2% | GrowthRev=+15.2%
[Analyst] Revisions Ratio: -22% (up=2, down=4)