DHER Stock Analysis: Delivery Hero SE | XETRA
Internet Retail | XETRA, Germany | Market Cap: 11.210m EUR | 12M Return: 37.7% | DE000A2E4K43 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 13.1M
Qual. Beats: 0
Rev. Trend: 97.0%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 9.1 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 is a Germany-based online food ordering, quick commerce, and delivery platform that also sells advertising services to merchants. The company operates an aggregator-style marketplace model, connecting restaurants and retail partners with end consumers via its apps and websites, while generating revenue from commissions, delivery fees, and merchant advertising. Its quick commerce (q-commerce) business focuses on ultrafast delivery of convenience and grocery items, typically fulfilled from localized dark stores. Headquartered in Berlin and founded in 2011, Delivery Hero serves customers in roughly 70 countries across Asia, the Middle East, Africa, Europe, and Latin America, placing it within the GICS Consumer Discretionary sector under Internet & Direct Marketing Retail.
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| 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 (3.05b) to EBITDA (388.2m): 7.86 < 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 September 10, 2026, the stock is trading at EUR 36.40 with a total of 304,632 shares traded. Over the past week, the price has changed by -0.44%, over one month by -2.10%, over three months by -4.16% and over the past year by +37.72%.
Current recommended Stop Loss: 36.00 (which is 1.1% or 1.2 ATR below the current price).
Delivery Hero SE has no consensus analysts rating.
P/E Forward = 66.6667
P/S = 0.7507
P/B = 9.2123
Revenue TTM = 14.9b EUR
EBIT TTM = -66.5m EUR
EBITDA TTM = 388.2m EUR
Long Term Debt = 4.03b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 168.3m EUR (from shortTermDebt, last quarter)
Debt = 5.75b EUR (from shortLongTermDebtTotal, last quarter) + Leases 437.8m
Net Debt = 3.05b EUR (calculated: Debt 5.75b - CCE 2.70b)
Enterprise Value = 14.3b EUR (11.2b + Debt 5.75b - CCE 2.70b)
Interest Coverage Ratio = -0.16 (Ebit TTM -66.5m / Interest Expense TTM 427.7m)
EV/FCF = -123.5x (Enterprise Value 14.3b / FCF TTM -115.5m)
FCF Yield = -0.81% (FCF TTM -115.5m / Enterprise Value 14.3b)
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 = 1.30 (Enterprise Value 14.3b / Total Assets 10.9b)
Interest Expense / Debt = 7.44% (Interest Expense 427.7m / Debt 5.75b)
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 = 4.70 (Debt 5.75b / totalStockholderEquity, last quarter 1.22b)
Debt / EBITDA = 7.86 (Net Debt 3.05b / EBITDA 388.2m)
Debt / FCF = -26.42 (negative FCF - burning cash) (Net Debt 3.05b / 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 = -1.14% (EBIT -66.5m / Capital Employed (Equity 1.81b + L.T.Debt 4.03b))
RoIC = -0.76% (negative operating profit) (NOPAT -49.9m / Invested Capital 6.57b)
WACC = 8.98% (E(11.2b)/V(17.0b) * Re(10.73%) + D(5.75b)/V(17.0b) * Rd(7.44%) * (1-Tc(0.25)))
Discount Rate = 10.73% (= 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=-0.26 | Chg30d=+19.84% | Revisions=+25% | GrowthEPS=+80.3% | GrowthRev=+13.2%
[Analyst] Revisions Ratio: +0% (up=3, down=3)