Ahold Delhaize (ENXTAM:AD): Is the Stock Undervalued After Strong Q3 Results and Upbeat 2026 Outlook?

Koninklijke Ahold Delhaize (ENXTAM:AD) just posted its third quarter 2025 earnings, reporting higher sales and net income than last year. Earnings per share came in above expectations, catching the attention of investors.

See our latest analysis for Koninklijke Ahold Delhaize.

Momentum has been building behind Ahold Delhaize, with the stock delivering a 13.4% share price return year-to-date and an impressive total shareholder return of 15% over the last year. Recent upbeat results and news of a refreshed strategy have only added to the positive sentiment, reinforcing the company’s longer-term track record. An 85% total shareholder return over five years shows patient investors have truly been rewarded.

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With the stock near 52-week highs and the business delivering another quarter of outperformance, should investors view Ahold Delhaize as undervalued? Or has the market already priced in the company's future growth prospects?

Most Popular Narrative: 2.9% Undervalued

With the fair value assessed at €37.06 per share and the last close at €35.98, the narrative consensus sees a modest upside in Ahold Delhaize’s shares. Support for this thesis centers on operational efficiency, digital expansion, and the company’s resilient positioning in evolving markets.

Operational efficiency gains through automation, supply chain optimization, and cost discipline enable reinvestment in growth and margin resilience, even amid price investments and inflationary pressures. This supports favorable longer-term earnings and margin profiles.

Read the complete narrative.

Ahold Delhaize’s value story pivots on ambitious digital growth and disciplined margins. The hidden engine? Analysts’ surprising assumptions about future profits, market share, and a demanding earnings target. What bold forecast anchors this valuation?

Result: Fair Value of €37.06 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, sustained price competition in key markets and weaker margins from online sales could challenge Ahold Delhaize’s ability to deliver the expected earnings growth.

Find out about the key risks to this Koninklijke Ahold Delhaize narrative.

Build Your Own Koninklijke Ahold Delhaize Narrative

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A great starting point for your Koninklijke Ahold Delhaize research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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