(DHER) Delivery Hero SE - Overview
Exchange: XETRA •
Country: Germany •
Currency: EUR •
Type: Common Stock •
ISIN: DE000A2E4K43
Stock: Online Food Ordering, Quick Commerce, Delivery Services, Advertising
Total Rating 26
Risk 39
Buy Signal 0.09
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 63.4% |
| Relative Tail Risk | -12.9% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.04 |
| Alpha | -15.49 |
| Character TTM | |
|---|---|
| Beta | 0.437 |
| Beta Downside | 0.389 |
| Drawdowns 3y | |
|---|---|
| Max DD | 63.55% |
| CAGR/Max DD | -0.24 |
Description: DHER Delivery Hero SE January 07, 2026
Delivery Hero SE (XETRA:DHER) is a Berlin-based platform that connects consumers with restaurants and merchants for online food ordering, quick-commerce, and delivery, and also monetises its traffic through advertising services. The business operates in roughly 70 markets across Asia, the Middle East, Africa, Europe, and Latin America, having been founded in 2011.
Recent financial disclosures indicate that Delivery Hero generated approximately €10 billion of gross merchandise volume (GMV) in FY 2023, translating into around 1.3 billion orders processed worldwide. The company reported an adjusted EBITDA margin near 6% and a year-over-year revenue growth of roughly 15%, driven largely by expansion in emerging markets and higher average order values. Key economic drivers include continued urbanisation, rising disposable income in its core regions, and the regulatory environment surrounding gig-economy labour models, which can materially affect cost structures.
For a deeper, data-rich assessment of Delivery Hero’s valuation dynamics, you may find it useful to explore the company’s profile on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income: -840.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA 8.97 > 1.0 |
| NWC/Revenue: 2.17% < 20% (prev 1.49%; Δ 0.68% < -1%) |
| CFO/TA 0.13 > 3% & CFO 1.40b > Net Income -840.8m |
| Net Debt (1.83b) to EBITDA (558.1m): 3.27 < 3 |
| Current Ratio: 1.12 > 1.5 & < 3 |
| Outstanding Shares: last quarter (295.7m) vs 12m ago 6.24% < -2% |
| Gross Margin: 25.54% > 18% (prev 0.29%; Δ 2525 % > 0.5%) |
| Asset Turnover: 188.2% > 50% (prev 156.9%; Δ 31.33% > 0%) |
| Interest Coverage Ratio: 0.69 > 6 (EBITDA TTM 558.1m / Interest Expense TTM 295.1m) |
Altman Z'' -2.50
| A: 0.04 (Total Current Assets 4.12b - Total Current Liabilities 3.69b) / Total Assets 10.96b |
| B: -0.97 (Retained Earnings -10.60b / Total Assets 10.96b) |
| C: 0.02 (EBIT TTM 204.4m / Avg Total Assets 10.68b) |
| D: 0.25 (Book Value of Equity 2.20b / Total Liabilities 8.63b) |
| Altman-Z'' Score: -2.50 = D |
Beneish M -3.20
| DSRI: 0.77 (Receivables 759.0m/794.9m, Revenue 20.10b/16.31b) |
| GMI: 1.14 (GM 25.54% / 29.09%) |
| AQI: 0.88 (AQ_t 0.56 / AQ_t-1 0.63) |
| SGI: 1.23 (Revenue 20.10b / 16.31b) |
| TATA: -0.20 (NI -840.8m - CFO 1.40b) / TA 10.96b) |
| Beneish M-Score: -3.20 (Cap -4..+1) = AA |
What is the price of DHER shares?
As of February 07, 2026, the stock is trading at EUR 23.90 with a total of 904,977 shares traded.
Over the past week, the price has changed by +1.27%, over one month by +6.70%, over three months by +20.40% and over the past year by -6.64%.
Over the past week, the price has changed by +1.27%, over one month by +6.70%, over three months by +20.40% and over the past year by -6.64%.
Is DHER a buy, sell or hold?
Delivery Hero SE has no consensus analysts rating.
What are the forecasts/targets for the DHER price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 30.5 | 27.4% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 23.4 | -2.3% |
DHER Fundamental Data Overview February 02, 2026
Market Cap USD = 8.31b (7.04b EUR * 1.1801 EUR.USD)
P/E Forward = 66.6667
P/S = 0.5252
P/B = 3.3553
Revenue TTM = 20.10b EUR
EBIT TTM = 204.4m EUR
EBITDA TTM = 558.1m EUR
Long Term Debt = 4.02b EUR (from longTermDebt, last quarter)
Short Term Debt = 307.4m EUR (from shortTermDebt, last quarter)
Debt = 4.64b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.83b EUR (from netDebt column, last quarter)
Enterprise Value = 8.87b EUR (7.04b + Debt 4.64b - CCE 2.81b)
Interest Coverage Ratio = 0.69 (Ebit TTM 204.4m / Interest Expense TTM 295.1m)
EV/FCF = 7.63x (Enterprise Value 8.87b / FCF TTM 1.16b)
FCF Yield = 13.11% (FCF TTM 1.16b / Enterprise Value 8.87b)
FCF Margin = 5.78% (FCF TTM 1.16b / Revenue TTM 20.10b)
Net Margin = -4.18% (Net Income TTM -840.8m / Revenue TTM 20.10b)
Gross Margin = 25.54% ((Revenue TTM 20.10b - Cost of Revenue TTM 14.97b) / Revenue TTM)
Gross Margin QoQ = 25.20% (prev 25.20%)
Tobins Q-Ratio = 0.81 (Enterprise Value 8.87b / Total Assets 10.96b)
Interest Expense / Debt = 3.01% (Interest Expense 139.5m / Debt 4.64b)
Taxrate = 25.0% (EU avg default 25%)
NOPAT = 153.3m (EBIT 204.4m * (1 - 25.00%))
Current Ratio = 1.12 (Total Current Assets 4.12b / Total Current Liabilities 3.69b)
Debt / Equity = 2.11 (Debt 4.64b / totalStockholderEquity, last quarter 2.20b)
Debt / EBITDA = 3.27 (Net Debt 1.83b / EBITDA 558.1m)
Debt / FCF = 1.57 (Net Debt 1.83b / FCF TTM 1.16b)
Total Stockholder Equity = 2.39b (last 4 quarters mean from totalStockholderEquity)
RoA = -7.87% (Net Income -840.8m / Total Assets 10.96b)
RoE = -35.12% (Net Income TTM -840.8m / Total Stockholder Equity 2.39b)
RoCE = 3.19% (EBIT 204.4m / Capital Employed (Equity 2.39b + L.T.Debt 4.02b))
RoIC = 2.16% (NOPAT 153.3m / Invested Capital 7.11b)
WACC = 5.43% (E(7.04b)/V(11.67b) * Re(7.52%) + D(4.64b)/V(11.67b) * Rd(3.01%) * (1-Tc(0.25)))
Discount Rate = 7.52% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 5.97%
[DCF Debug] Terminal Value 80.82% ; FCFF base≈765.1m ; Y1≈502.3m ; Y5≈229.2m
Fair Price DCF = 18.36 (EV 7.30b - Net Debt 1.83b = Equity 5.47b / Shares 298.2m; r=5.90% [WACC]; 5y FCF grow -40.0% → 2.90% )
EPS Correlation: 8.75 | EPS CAGR: 0.0% | SUE: 0.0 | # QB: 0
Revenue Correlation: 62.97 | Revenue CAGR: 45.20% | SUE: 1.37 | # QB: 1
EPS next Year (2026-12-31): EPS=0.86 | Chg30d=-0.066 | Revisions Net=-1 | Growth EPS=+73.9% | Growth Revenue=+10.2%
P/E Forward = 66.6667
P/S = 0.5252
P/B = 3.3553
Revenue TTM = 20.10b EUR
EBIT TTM = 204.4m EUR
EBITDA TTM = 558.1m EUR
Long Term Debt = 4.02b EUR (from longTermDebt, last quarter)
Short Term Debt = 307.4m EUR (from shortTermDebt, last quarter)
Debt = 4.64b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.83b EUR (from netDebt column, last quarter)
Enterprise Value = 8.87b EUR (7.04b + Debt 4.64b - CCE 2.81b)
Interest Coverage Ratio = 0.69 (Ebit TTM 204.4m / Interest Expense TTM 295.1m)
EV/FCF = 7.63x (Enterprise Value 8.87b / FCF TTM 1.16b)
FCF Yield = 13.11% (FCF TTM 1.16b / Enterprise Value 8.87b)
FCF Margin = 5.78% (FCF TTM 1.16b / Revenue TTM 20.10b)
Net Margin = -4.18% (Net Income TTM -840.8m / Revenue TTM 20.10b)
Gross Margin = 25.54% ((Revenue TTM 20.10b - Cost of Revenue TTM 14.97b) / Revenue TTM)
Gross Margin QoQ = 25.20% (prev 25.20%)
Tobins Q-Ratio = 0.81 (Enterprise Value 8.87b / Total Assets 10.96b)
Interest Expense / Debt = 3.01% (Interest Expense 139.5m / Debt 4.64b)
Taxrate = 25.0% (EU avg default 25%)
NOPAT = 153.3m (EBIT 204.4m * (1 - 25.00%))
Current Ratio = 1.12 (Total Current Assets 4.12b / Total Current Liabilities 3.69b)
Debt / Equity = 2.11 (Debt 4.64b / totalStockholderEquity, last quarter 2.20b)
Debt / EBITDA = 3.27 (Net Debt 1.83b / EBITDA 558.1m)
Debt / FCF = 1.57 (Net Debt 1.83b / FCF TTM 1.16b)
Total Stockholder Equity = 2.39b (last 4 quarters mean from totalStockholderEquity)
RoA = -7.87% (Net Income -840.8m / Total Assets 10.96b)
RoE = -35.12% (Net Income TTM -840.8m / Total Stockholder Equity 2.39b)
RoCE = 3.19% (EBIT 204.4m / Capital Employed (Equity 2.39b + L.T.Debt 4.02b))
RoIC = 2.16% (NOPAT 153.3m / Invested Capital 7.11b)
WACC = 5.43% (E(7.04b)/V(11.67b) * Re(7.52%) + D(4.64b)/V(11.67b) * Rd(3.01%) * (1-Tc(0.25)))
Discount Rate = 7.52% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 5.97%
[DCF Debug] Terminal Value 80.82% ; FCFF base≈765.1m ; Y1≈502.3m ; Y5≈229.2m
Fair Price DCF = 18.36 (EV 7.30b - Net Debt 1.83b = Equity 5.47b / Shares 298.2m; r=5.90% [WACC]; 5y FCF grow -40.0% → 2.90% )
EPS Correlation: 8.75 | EPS CAGR: 0.0% | SUE: 0.0 | # QB: 0
Revenue Correlation: 62.97 | Revenue CAGR: 45.20% | SUE: 1.37 | # QB: 1
EPS next Year (2026-12-31): EPS=0.86 | Chg30d=-0.066 | Revisions Net=-1 | Growth EPS=+73.9% | Growth Revenue=+10.2%