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Delivery Hero SE DHER

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Stock XETR Rating as of
€28.93 −0.46 (1.57%)
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As of Delayed Price Closed
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Company Report

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Delivery Hero: Poised for Robust Growth but Leverage Limits Margin of Safety

Ioannis Pontikis

Delivery Hero is one of the fastest-growing food delivery operators in the world. It’s exposed to regions with attractive long-term structural characteristics and is well positioned to benefit from the secular trend of digitization of food delivery orders, in our opinion. A combination of strong positions in concentrated markets, consistent and sticky cohort behavior, profitable delivery operations in the Middle East and North Africa, South Korea, and a significant addressable market underpins Delivery Hero's investment thesis.

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Price vs Fair Value

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DHER is trading at a 18% discount.
Price
€27.79
Fair Value
€29.00
Uncertainty
Very High
1-Star Price
€22.10
5-Star Price
€52.00
Economic Moat
Sblzbh
Capital Allocation
Vnzypmgf

Bulls Say, Bears Say

Bulls

Delivery Hero is one of the fastest-growing food delivery platforms in the world, a prerequisite to create strong network effects.

Bears

Durable profitability of the group’s exposure in certain regions (Americas, parts of Asia) and markets (q-commerce) is still a work in progress.

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News

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Trading Information

Previous Close Price
€29.39
Day Range
€28.75–30.05
52-Week Range
€14.92–43.96
Bid/Ask
€29.03 / €0.00
Market Cap
€7.65 Bil
Volume/Avg
804,932 / 1.4 Mil

Key Statistics

Price/Earnings (Normalized)
—
Price/Sales
0.83
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
—

Company Profile

Delivery Hero is an online food delivery provider and active delivery service headquartered in Germany. It operates in over 70 countries across five continents. Commission rate per order, the company’s largest source of revenue, varies across the countries in its four geographic segments--the Americas, Asia, Europe, and the Middle East and North Africa--as well as the type of restaurant and the provided service.
Sector
Consumer Cyclical
Industry
Internet Retail
Stock Style Box
Mid Core
Total Number of Employees
47,208
Website
https://www.deliveryhero.com

Competitors

Valuation

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Metric
DHER
TKWY
03690
Price/Earnings (Normalized)
 —1.1463.89
Price/Book Value
 2.530.494.23
Price/Sales
 0.830.562.34
Price/Cash Flow
 —18.3415.96
Price/Earnings
DHER
TKWY
03690

Financial Strength

Metric
DHER
TKWY
03690
Quick Ratio
 0.941.361.40
Current Ratio
 1.111.501.75
Interest Coverage
 −8.61−20.647.81
Quick Ratio
DHER
TKWY
03690

Profitability

Metric
DHER
TKWY
03690
Return on Assets (Normalized)
 −7.73%−3.01%3.06%
Return on Equity (Normalized)
 −25.47%−5.05%5.79%
Return on Invested Capital (Normalized)
 −9.44%−3.17%4.40%
Return on Assets
DHER
TKWY
03690
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