(DHER) Delivery Hero SE - Overview
Sector: Consumer Cyclical | Industry: Internet Retail | Exchange: XETRA (Germany) | Market Cap: 10.203m EUR | Total Return: 44% in 12m
Avg Turnover: 77.4M
Qual. Beats: 0
Rev. Trend: 97.2%
Qual. Beats: 0
Warnings
Interest Coverage Ratio 0.5 is critical
Altman Z'' -3.17 < 1.0 - financial distress zone
Tailwinds
Rs Leader, Idiosyncratic Leader, Tailwind, Pullback 52w
Delivery Hero SE is a Berlin-based technology company specializing in online food ordering and quick commerce across approximately 70 countries. Its operational footprint spans major markets in Asia, the Middle East, Africa, Europe, and Latin America, where it manages a multi-sided marketplace connecting consumers, restaurants, and local retailers.
The company utilizes a logistics-as-a-service model, leveraging dense urban networks to facilitate the rapid delivery of groceries and household goods alongside traditional prepared meals. In the quick commerce sector, businesses often utilize dark stores or micro-fulfillment centers to minimize delivery times and optimize inventory turnover in high-demand zones.
Beyond logistics, Delivery Hero generates revenue through commission fees and integrated advertising services for its platform partners. For deeper insights into these revenue streams, investors can explore the detailed financial breakdowns on ValueRay. The firm remains a key constituent of the German stock market, reflecting the broader shift toward digital platform economies in the retail and service sectors.
- Sustained profitability in MENA markets offsets losses in developing Asian territories
- Quick commerce expansion requires significant capital expenditure to scale warehouse infrastructure
- High interest rates increase debt servicing costs for loss-making regional subsidiaries
- Adtech revenue growth provides high-margin offset to rising logistics and labor costs
- Regulatory crackdowns on gig economy worker classification threaten European operational margins
| Net Income: -1.15b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 1.27 > 1.0 |
| NWC/Revenue: -0.56% < 20% (prev 8.60%; Δ -9.16% < -1%) |
| CFO/TA 0.07 > 3% & CFO 728.2m > Net Income -1.15b |
| Net Debt (2.94b) to EBITDA (801.8m): 3.67 < 3 |
| Current Ratio: 0.96 > 1.5 & < 3 |
| Outstanding Shares: last quarter (298.2m) vs 12m ago 2.80% < -2% |
| Gross Margin: 24.10% > 18% (prev 0.28%; Δ 2.38k% > 0.5%) |
| Asset Turnover: 209.2% > 50% (prev 137.1%; Δ 72.17% > 0%) |
| Interest Coverage Ratio: 0.47 > 6 (EBITDA TTM 801.8m / Interest Expense TTM 505.4m) |
| A: -0.01 (Total Current Assets 3.29b - Total Current Liabilities 3.43b) / Total Assets 10.5b |
| B: -1.05 (Retained Earnings -11.1b / Total Assets 10.5b) |
| C: 0.02 (EBIT TTM 235.2m / Avg Total Assets 11.5b) |
| D: 0.19 (Book Value of Equity 1.64b / Total Liabilities 8.75b) |
| Altman-Z'' = -3.17 = D |
| DSRI: 0.89 (Receivables 650.2m/520.3m, Revenue 24.0b/17.0b) |
| GMI: 1.18 (GM 24.10% / 28.36%) |
| AQI: 1.17 (AQ_t 0.61 / AQ_t-1 0.52) |
| SGI: 1.41 (Revenue 24.0b / 17.0b) |
| TATA: -0.18 (NI -1.15b - CFO 728.2m) / TA 10.5b) |
| Beneish M = -2.75 (Cap -4..+1) = A |
As of May 31, 2026, the stock is trading at EUR 36.98 with a total of 4,707,597 shares traded.
Over the past week, the price has changed by +10.09%,
over one month by +93.26%,
over three months by +88.15% and
over the past year by +44.00%.
Delivery Hero SE has no consensus analysts rating.
P/E Forward = 66.6667
P/S = 0.7257
P/B = 4.6474
Revenue TTM = 24.0b EUR
EBIT TTM = 235.2m EUR
EBITDA TTM = 801.8m EUR
Long Term Debt = 4.03b EUR (from longTermDebt, last quarter)
Short Term Debt = 287.7m EUR (from shortTermDebt, last quarter)
Debt = 5.05b EUR (from shortLongTermDebtTotal, last quarter) + Leases 429.4m
Net Debt = 2.94b EUR (calculated: Debt 5.05b - CCE 2.11b)
Enterprise Value = 13.1b EUR (10.2b + Debt 5.05b - CCE 2.11b)
Interest Coverage Ratio = 0.47 (Ebit TTM 235.2m / Interest Expense TTM 505.4m)
EV/FCF = 29.78x (Enterprise Value 13.1b / FCF TTM 441.4m)
FCF Yield = 3.36% (FCF TTM 441.4m / Enterprise Value 13.1b)
FCF Margin = 1.84% (FCF TTM 441.4m / Revenue TTM 24.0b)
Net Margin = -4.77% (Net Income TTM -1.15b / Revenue TTM 24.0b)
Gross Margin = 24.10% ((Revenue TTM 24.0b - Cost of Revenue TTM 18.2b) / Revenue TTM)
Gross Margin QoQ = 20.86% (prev 25.20%)
Tobins Q-Ratio = 1.25 (Enterprise Value 13.1b / Total Assets 10.5b)
Interest Expense / Debt = 10.00% (Interest Expense 505.4m / Debt 5.05b)
Taxrate = 25.0% (EU avg default 25%)
NOPAT = 176.4m (EBIT 235.2m * (1 - 25.00%))
Current Ratio = 0.96 (Total Current Assets 3.29b / Total Current Liabilities 3.43b)
Debt / Equity = 3.08 (Debt 5.05b / totalStockholderEquity, last quarter 1.64b)
Debt / EBITDA = 3.67 (Net Debt 2.94b / EBITDA 801.8m)
Debt / FCF = 6.67 (Net Debt 2.94b / FCF TTM 441.4m)
Total Stockholder Equity = 2.16b (last 4 quarters mean from totalStockholderEquity)
RoA = -9.97% (Net Income -1.15b / Total Assets 10.5b)
RoE = -8.67% (Net Income TTM -1.15b / Total Stockholder Equity 13.2b)
RoCE = 1.36% (EBIT 235.2m / Capital Employed (Equity 13.2b + L.T.Debt 4.03b))
RoIC = 2.41% (NOPAT 176.4m / Invested Capital 7.33b)
WACC = 9.37% (E(10.2b)/V(15.3b) * Re(10.29%) + D(5.05b)/V(15.3b) * Rd(10.00%) * (1-Tc(0.25)))
Discount Rate = 10.29% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 86.14 | Cagr: 4.00%
[DCF] Terminal Value 74.75% ; FCFF base≈409.8m ; Y1≈469.8m ; Y5≈691.4m
[DCF] Fair Price = 19.37 (EV 8.83b - Net Debt 2.94b = Equity 5.88b / Shares 303.7m; r=9.37% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: 97.19 | Revenue CAGR: 21.81% | SUE: -0.07 | # QB: 0
EPS current Year (2026-12-31): EPS=-0.19 | Chg30d=+45.44% | Revisions=-25% | GrowthEPS=+85.5% | GrowthRev=+11.8%
EPS next Year (2027-12-31): EPS=0.65 | Chg30d=-9.16% | Revisions=-11% | GrowthEPS=+436.2% | GrowthRev=+10.0%
[Analyst] Revisions Ratio: -25%