Company Valuation: DHL Group

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 69,241 42,394 53,030 39,183 52,402 60,772 - -
Change - -38.77% 25.09% -26.11% 33.74% 15.97% - -
Enterprise Value (EV) 1 85,607 58,250 70,769 58,181 73,918 83,387 83,629 83,530
Change - -31.96% 21.49% -17.79% 27.05% 12.81% 0.29% -0.12%
P/E 14.1x 8.12x 14.8x 12.1x 15.4x 15.8x 14.6x 13.6x
PBR 3.66x 1.84x 2.8x 2.13x 2.38x 2.61x 2.48x 2.31x
PEG - 1.02x -0.5x -1.6x 1.88x 1.1x 1.75x 1.83x
Capitalization / Revenue 0.85x 0.45x 0.65x 0.47x 0.63x 0.7x 0.67x 0.65x
EV / Revenue 1.05x 0.62x 0.87x 0.69x 0.89x 0.95x 0.93x 0.9x
EV / EBITDA 7.29x 4.62x 6.54x 5.49x 6.74x 7.05x 6.78x 6.49x
EV / EBIT 10.7x 6.9x 11.2x 9.88x 12.1x 12.2x 11.6x 11x
EV / FCF 20.9x 19x 24.1x 10.3x 32.2x 22.9x 22.4x 20.9x
FCF Yield 4.78% 5.27% 4.16% 9.72% 3.1% 4.37% 4.46% 4.79%
Dividend per Share 2 1.8 1.85 1.85 1.85 1.9 1.986 2.079 2.181
Rate of return 3.18% 5.26% 4.12% 5.44% 4.07% 3.62% 3.79% 3.97%
EPS 2 4.01 4.33 3.04 2.81 3.04 3.465 3.754 4.033
Distribution rate 44.9% 42.7% 60.9% 65.8% 62.5% 57.3% 55.4% 54.1%
Net sales 1 81,747 94,436 81,758 84,186 82,855 87,441 90,102 93,288
EBITDA 1 11,746 12,613 10,822 10,606 10,970 11,835 12,326 12,878
EBIT 1 7,978 8,436 6,345 5,886 6,103 6,840 7,200 7,605
Net income 1 5,053 5,359 3,677 3,332 3,501 3,916 4,144 4,414
Net Debt 1 16,366 15,856 17,739 18,998 21,516 22,615 22,857 22,757
Reference price 2 56.54 35.18 44.86 33.98 46.73 54.88 54.88 54.88
Nbr of stocks (in thousands) 1,224,639 1,205,059 1,182,263 1,153,116 1,121,383 1,107,368 - -
Announcement Date 3/9/22 3/9/23 3/6/24 3/6/25 3/5/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.84x0.95x7.05x3.62% 70.44B
17.08x1.18x8.59x6.36% 87.64B
15.2x0.93x8.09x1.72% 74.92B
24.11x1.8x17.06x0.84% 24.2B
20.36x0.78x8.48x-.--% 11.97B
22.27x2.49x9.48x-.--% 9.01B
8.52x0.36x5.33x6.35% 6.19B
14.06x0.65x7.39x3.67% 5.54B
28.27x0.52x7.59x-.--% 5.32B
21.76x1.13x7.7x2.68% 3.92B
Average 18.75x 1.08x 8.68x 2.52% 29.91B
Weighted average by Cap. 17.20x 1.10x 8.69x 3.45%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield