XTRA:DHER

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Delivery Hero SE offers online food ordering and delivery services.


Snowflake Analysis

Excellent balance sheet and slightly overvalued.


Similar Companies

Share Price & News

How has Delivery Hero's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: DHER's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

13.3%

DHER

8.4%

DE Online Retail

2.1%

DE Market


1 Year Return

162.3%

DHER

115.6%

DE Online Retail

2.1%

DE Market

Return vs Industry: DHER exceeded the German Online Retail industry which returned 118.1% over the past year.

Return vs Market: DHER exceeded the German Market which returned 3% over the past year.


Shareholder returns

DHERIndustryMarket
7 Day13.3%8.4%2.1%
30 Day20.7%16.5%-0.8%
90 Day57.8%68.1%20.1%
1 Year162.3%162.3%116.6%115.6%4.2%2.1%
3 Year279.2%279.2%110.4%104.9%3.7%-4.7%
5 Yearn/a71.1%66.6%10.7%-4.0%

Price Volatility Vs. Market

How volatile is Delivery Hero's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Delivery Hero undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: DHER (€103.15) is trading below our estimate of fair value (€242.04)

Significantly Below Fair Value: DHER is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: DHER is unprofitable, so we can't compare its PE Ratio to the Online Retail industry average.

PE vs Market: DHER is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate DHER's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: DHER is overvalued based on its PB Ratio (10.4x) compared to the DE Online Retail industry average (2.9x).


Next Steps

Future Growth

How is Delivery Hero forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

42.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DHER is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: DHER is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: DHER is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: DHER's revenue (34.5% per year) is forecast to grow faster than the German market (5.9% per year).

High Growth Revenue: DHER's revenue (34.5% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DHER is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has Delivery Hero performed over the past 5 years?

-26.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DHER is currently unprofitable.

Growing Profit Margin: DHER is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: DHER is unprofitable, and losses have increased over the past 5 years at a rate of -26.1% per year.

Accelerating Growth: Unable to compare DHER's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: DHER is unprofitable, making it difficult to compare its past year earnings growth to the Online Retail industry (-11.5%).


Return on Equity

High ROE: DHER has a negative Return on Equity (-36.9%), as it is currently unprofitable.


Next Steps

Financial Health

How is Delivery Hero's financial position?


Financial Position Analysis

Short Term Liabilities: DHER's short term assets (€949.6M) exceed its short term liabilities (€617.9M).

Long Term Liabilities: DHER's short term assets (€949.6M) exceed its long term liabilities (€185.3M).


Debt to Equity History and Analysis

Debt Level: DHER is debt free.

Reducing Debt: DHER has no debt compared to 5 years ago when its debt to equity ratio was 0.3%.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: DHER has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if DHER has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is Delivery Hero current dividend yield, its reliability and sustainability?

0.048%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate DHER's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate DHER's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if DHER's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if DHER's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of DHER's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.9yrs

Average management tenure


CEO

L. Östberg (40yo)

7.67yrs

Tenure

€22,376,000

Compensation

Mr. L. Niklas Östberg co-founded Delivery Hero SE (formerly Delivery Hero Holding GmbH) in 2010 and has been its Chief Executive Officer since November 2012. Mr. Östberg has been a Member of the Management ...


CEO Compensation Analysis

Compensation vs Market: L.'s total compensation ($USD25.28M) is above average for companies of similar size in the German market ($USD5.21M).

Compensation vs Earnings: L.'s compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
L. Östberg
Co-Founder7.67yrs€22.38mno data
Emmanuel Thomassin
CFO & Member of the Management Board6.5yrs€1.43mno data
Christian von Hardenberg
Chief Technology Officer4.08yrs€11.30kno data
Lukasz Gadowski
Co-Founder & Chairman of Advisory Boardno data€8.22kno data
Pieter-Jan Vandepitte
Chief Operating Officer4.92yrsno datano data
Julia Stoetzel
Director of Investor Relationsno datano datano data
Daniel Fard-Yazdani
Head of Investor Relations0.17yrno datano data
Bodo Braunmühl
Head of Corporate Communicationsno datano datano data
Jeri Doris
Chief People Officer2.42yrsno datano data
Ariel Burschtin
Chief Executive Officer of Pedidosyano datano datano data

4.9yrs

Average Tenure

44yo

Average Age

Experienced Management: DHER's management team is considered experienced (4.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Lukasz Gadowski
Co-Founder & Chairman of Advisory Boardno data€8.22kno data
Martin Enderle
Independent Chairman of Supervisory Board3.17yrs€164.00kno data
Jeanette Gorgas
Member of the Supervisory Board0.083yrno datano data
Patrick Kolek
Independent Deputy Chairman of Supervisory Board2yrs€41.00kno data
Gabriella Ardbo
Member of the Supervisory Board0.083yrno datano data
Nils Engvall
Member of the Supervisory Board0.083yrno datano data
Gerald Taylor
Member of the Supervisory Board0.083yrno datano data

0.08yrs

Average Tenure

43yo

Average Age

Experienced Board: DHER's board of directors are not considered experienced ( 0.1 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5.5%.


Top Shareholders

Company Information

Delivery Hero SE's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Delivery Hero SE
  • Ticker: DHER
  • Exchange: XTRA
  • Founded: 2011
  • Industry: Internet and Direct Marketing Retail
  • Sector: Retail
  • Market Cap: €20.601b
  • Shares outstanding: 199.04m
  • Website: https://www.deliveryhero.com

Number of Employees


Location

  • Delivery Hero SE
  • Oranienburger Strasse 70
  • Berlin
  • Berlin
  • 10117
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DHERXTRA (XETRA Trading Platform)YesOrdinary Registered SharesDEEURJun 2017
0RTCLSE (London Stock Exchange)YesOrdinary Registered SharesGBEURJun 2017
DHERDB (Deutsche Boerse AG)YesOrdinary Registered SharesDEEURJun 2017
DHERWBAG (Wiener Boerse AG)YesOrdinary Registered SharesATEURJun 2017
DHERDBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary Registered SharesGBEURJun 2017
DHERSWX (SIX Swiss Exchange)YesOrdinary Registered SharesCHCHFJun 2017
DLVH.FOTCPK (Pink Sheets LLC)YesOrdinary Registered SharesUSUSDJun 2017
DHERETLX (Eurotlx)YesOrdinary Registered SharesITEURJun 2017

Biography

Delivery Hero SE offers online food ordering and delivery services. It operates in 44 countries in Europe, the Middle East, North Africa, Asia, and the Americas. Delivery Hero SE has a strategic partnership agreement with Woowa Brothers Corp. to expand its Asian operations. The company was founded in 2011 and is headquartered in Berlin, Germany. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/07 20:50
End of Day Share Price2020/07/07 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.