DELIVERY HERO SE (DHER.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:DHER • DE000A2E4K43

23.8 EUR
+0.7 (+3.03%)
Last: Feb 6, 2026, 05:29 PM
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to DHER. DHER was compared to 59 industry peers in the Hotels, Restaurants & Leisure industry. DHER may be in some trouble as it scores bad on both profitability and health. While showing a medium growth rate, DHER is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

1

1. Profitability

1.1 Basic Checks

  • In the past year DHER has reported negative net income.
  • DHER had a positive operating cash flow in the past year.
  • In the past 5 years DHER always reported negative net income.
  • In the past 5 years DHER reported 4 times negative operating cash flow.
DHER.DE Yearly Net Income VS EBIT VS OCF VS FCFDHER.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -1B -2B

1.2 Ratios

  • With a Return On Assets value of -5.11%, DHER is not doing good in the industry: 74.58% of the companies in the same industry are doing better.
  • DHER has a Return On Equity (-25.53%) which is in line with its industry peers.
  • DHER has a Return On Invested Capital of 1.40%. This is in the lower half of the industry: DHER underperforms 69.49% of its industry peers.
Industry RankSector Rank
ROA -5.11%
ROE -25.53%
ROIC 1.4%
ROA(3y)-17.42%
ROA(5y)-17.1%
ROE(3y)-84.33%
ROE(5y)-79.02%
ROIC(3y)N/A
ROIC(5y)N/A
DHER.DE Yearly ROA, ROE, ROICDHER.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -50 -100

1.3 Margins

  • DHER's Operating Margin of 1.08% is on the low side compared to the rest of the industry. DHER is outperformed by 69.49% of its industry peers.
  • The Gross Margin of DHER (25.54%) is worse than 62.71% of its industry peers.
  • In the last couple of years the Gross Margin of DHER has remained more or less at the same level.
Industry RankSector Rank
OM 1.08%
PM (TTM) N/A
GM 25.54%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y8.02%
GM growth 5Y1.49%
DHER.DE Yearly Profit, Operating, Gross MarginsDHER.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50

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3

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), DHER is destroying value.
  • The number of shares outstanding for DHER has been increased compared to 1 year ago.
  • The number of shares outstanding for DHER has been increased compared to 5 years ago.
  • DHER has a better debt/assets ratio than last year.
DHER.DE Yearly Shares OutstandingDHER.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M
DHER.DE Yearly Total Debt VS Total AssetsDHER.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

2.2 Solvency

  • DHER has an Altman-Z score of 0.43. This is a bad value and indicates that DHER is not financially healthy and even has some risk of bankruptcy.
  • DHER has a worse Altman-Z score (0.43) than 74.58% of its industry peers.
  • DHER has a debt to FCF ratio of 7.27. This is a slightly negative value and a sign of low solvency as DHER would need 7.27 years to pay back of all of its debts.
  • DHER has a Debt to FCF ratio (7.27) which is comparable to the rest of the industry.
  • DHER has a Debt/Equity ratio of 1.97. This is a high value indicating a heavy dependency on external financing.
  • Looking at the Debt to Equity ratio, with a value of 1.97, DHER is in line with its industry, outperforming 52.54% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.97
Debt/FCF 7.27
Altman-Z 0.43
ROIC/WACC0.25
WACC5.59%
DHER.DE Yearly LT Debt VS Equity VS FCFDHER.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B

2.3 Liquidity

  • A Current Ratio of 1.12 indicates that DHER should not have too much problems paying its short term obligations.
  • DHER has a better Current ratio (1.12) than 69.49% of its industry peers.
  • DHER has a Quick Ratio of 1.07. This is a normal value and indicates that DHER is financially healthy and should not expect problems in meeting its short term obligations.
  • DHER has a better Quick ratio (1.07) than 71.19% of its industry peers.
Industry RankSector Rank
Current Ratio 1.12
Quick Ratio 1.07
DHER.DE Yearly Current Assets VS Current LiabilitesDHER.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

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6

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 77.18% over the past year.
  • DHER shows a strong growth in Revenue. In the last year, the Revenue has grown by 23.23%.
  • The Revenue has been growing by 58.28% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)77.18%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%48.06%
Revenue 1Y (TTM)23.23%
Revenue growth 3Y28.05%
Revenue growth 5Y58.28%
Sales Q2Q%19.18%

3.2 Future

  • The Earnings Per Share is expected to grow by 38.80% on average over the next years. This is a very strong growth
  • The Revenue is expected to grow by 14.27% on average over the next years. This is quite good.
EPS Next Y36.32%
EPS Next 2Y36.55%
EPS Next 3Y29.68%
EPS Next 5Y38.8%
Revenue Next Year18.78%
Revenue Next 2Y14.59%
Revenue Next 3Y13.32%
Revenue Next 5Y14.27%

3.3 Evolution

  • Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
DHER.DE Yearly Revenue VS EstimatesDHER.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 10B 20B 30B
DHER.DE Yearly EPS VS EstimatesDHER.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 0 5 -5

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2

4. Valuation

4.1 Price/Earnings Ratio

  • DHER reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
  • Also next year DHER is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
DHER.DE Price Earnings VS Forward Price EarningsDHER.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20 -40 -60

4.2 Price Multiples

  • DHER's Enterprise Value to EBITDA is on the same level as the industry average.
  • DHER's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. DHER is cheaper than 72.88% of the companies in the same industry.
Industry RankSector Rank
P/FCF 11.34
EV/EBITDA 14.16
DHER.DE Per share dataDHER.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 -10 20 30 40

4.3 Compensation for Growth

  • A more expensive valuation may be justified as DHER's earnings are expected to grow with 29.68% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y36.55%
EPS Next 3Y29.68%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. Dividend

5.1 Amount

  • No dividends for DHER!.
Industry RankSector Rank
Dividend Yield 0%

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DELIVERY HERO SE

FRA:DHER (2/6/2026, 5:29:45 PM)

23.8

+0.7 (+3.03%)

Chartmill FA Rating
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)11-13
Earnings (Next)02-27
Inst Owners69.03%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap7.10B
Revenue(TTM)13.40B
Net Income(TTM)-560.50M
Analysts74.62
Price Target30.62 (28.66%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly Dividend0
Dividend Growth(5Y)N/A
DP-3.59%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-14.17%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-1.55%
EPS NY rev (3m)-17.04%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.54%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 0.53
P/FCF 11.34
P/OCF 7.63
P/B 3.23
P/tB N/A
EV/EBITDA 14.16
EPS(TTM)-1.86
EYN/A
EPS(NY)-0.38
Fwd EYN/A
FCF(TTM)2.1
FCFY8.82%
OCF(TTM)3.12
OCFY13.11%
SpS44.94
BVpS7.36
TBVpS-11.8
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -5.11%
ROE -25.53%
ROCE 1.99%
ROIC 1.4%
ROICexc 2.28%
ROICexgc N/A
OM 1.08%
PM (TTM) N/A
GM 25.54%
FCFM 4.67%
ROA(3y)-17.42%
ROA(5y)-17.1%
ROE(3y)-84.33%
ROE(5y)-79.02%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y8.02%
GM growth 5Y1.49%
F-Score6
Asset Turnover1.22
Health
Industry RankSector Rank
Debt/Equity 1.97
Debt/FCF 7.27
Debt/EBITDA 7.1
Cap/Depr 65.58%
Cap/Sales 2.27%
Interest Coverage 0.54
Cash Conversion 152.74%
Profit Quality N/A
Current Ratio 1.12
Quick Ratio 1.07
Altman-Z 0.43
F-Score6
WACC5.59%
ROIC/WACC0.25
Cap/Depr(3y)56.01%
Cap/Depr(5y)76.4%
Cap/Sales(3y)2.61%
Cap/Sales(5y)4.35%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)77.18%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%48.06%
EPS Next Y36.32%
EPS Next 2Y36.55%
EPS Next 3Y29.68%
EPS Next 5Y38.8%
Revenue 1Y (TTM)23.23%
Revenue growth 3Y28.05%
Revenue growth 5Y58.28%
Sales Q2Q%19.18%
Revenue Next Year18.78%
Revenue Next 2Y14.59%
Revenue Next 3Y13.32%
Revenue Next 5Y14.27%
EBIT growth 1Y119.76%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year519.31%
EBIT Next 3Y103.82%
EBIT Next 5Y65.44%
FCF growth 1Y190.36%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y300.5%
OCF growth 3YN/A
OCF growth 5YN/A

DELIVERY HERO SE / DHER.DE FAQ

What is the fundamental rating for DHER stock?

ChartMill assigns a fundamental rating of 3 / 10 to DHER.DE.


What is the valuation status of DELIVERY HERO SE (DHER.DE) stock?

ChartMill assigns a valuation rating of 2 / 10 to DELIVERY HERO SE (DHER.DE). This can be considered as Overvalued.


What is the profitability of DHER stock?

DELIVERY HERO SE (DHER.DE) has a profitability rating of 1 / 10.


Can you provide the expected EPS growth for DHER stock?

The Earnings per Share (EPS) of DELIVERY HERO SE (DHER.DE) is expected to grow by 36.32% in the next year.