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Just Eat Takeaway.com NV TKWY

Morningstar Rating
€14.19 −0.32 (2.21%)
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Company Report

Just Eat Takeaway: Disappointing Q1 Volumes; UK & Ireland Ahead and Unchanged Fiscal 2024 Guidance

Just Eat Takeaway reported a first-quarter trading update, with gross transaction value, or GTV, down 2% in constant currency. Management reiterated its outlook for 2024 adjusted EBITDA to be around EUR 450 million, versus EUR 449 million in our model, and constant-currency GTV growth excluding North America in the range of 2% to 6% year on year, versus 3.4% in our model (down 0.7% including North America in our model). The company also expects free cash flow to remain comfortably positive, especially given the expectation for higher profitability, which is in line with our expectations. Just Eat Takeaway has completed the EUR 150 million share buyback program initiated in April and is in the process of completing a second buyback program, having repurchased cumulatively 8.9% of issued shares. Regionally, volumes were particularly disappointing in Southern Europe and Australia (down 16%) as well as North America (down 12%), with volumes in Northern Europe affected by the weak macro environment.

Price vs Fair Value

TKWY is trading at a 755% premium.
Price
€14.50
Fair Value
€79.00
Uncertainty
Very High
1-Star Price
€53.81
5-Star Price
€89.90
Economic Moat
Znkvhq
Capital Allocation
Hrxjcslyt

Bulls Say, Bears Say

Bulls

An experienced founder-led management team with significant vested interest helps align interests with shareholders.

Bears

Competition in some of the core markets is intense as well-capitalized delivery-led peers continue to capture significant share.

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News

Trading Information

Previous Close Price
€14.51
Day Range
€14.1714.47
52-Week Range
€10.1917.66
Bid/Ask
€14.18 / €14.20
Market Cap
€2.92 Bil
Volume/Avg
657,303 / 2.4 Mil

Key Statistics

Price/Earnings (Normalized)
1.22
Price/Sales
0.60
Dividend Yield (Trailing)
Dividend Yield (Forward)
Total Yield
6.43%

Company Profile

Just Eat Takeaway operates an online marketplace that connects restaurants with users in Europe and North America. The company operates mainly as an order-only marketplace, although it also offers last-mile delivery services. The company is the result of the merger of Just Eat and Takeaway.com in early 2020. The company had close to 985 million orders and a gross transaction value of EUR 28.2 billion in fiscal 2022. Excluding the US after the recent acquisition of Grubhub, the company’s largest geographical presence by revenue is in the UK, Germany, Canada, and the Netherlands.
Sector
Consumer Cyclical
Industry
Internet Retail
Stock Style Box
Mid Core
Total Number of Employees
13,506

Competitors

Valuation

Metric
TKWY
DASH
03690
Price/Earnings (Normalized)
1.2288.0630.60
Price/Book Value
0.536.854.66
Price/Sales
0.605.112.57
Price/Cash Flow
19.6335.0326.89
Price/Earnings
TKWY
DASH
03690

Financial Strength

Metric
TKWY
DASH
03690
Quick Ratio
1.361.351.57
Current Ratio
1.501.641.82
Interest Coverage
−20.6410.27
Quick Ratio
TKWY
DASH
03690

Profitability

Metric
TKWY
DASH
03690
Return on Assets (Normalized)
−3.01%5.14%8.68%
Return on Equity (Normalized)
−5.05%7.96%16.49%
Return on Invested Capital (Normalized)
−3.17%5.51%11.89%
Return on Assets
TKWY
DASH
03690
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