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 63,076 - -
Change - -38.77% 25.09% -26.11% 33.74% 20.37% - -
Enterprise Value (EV) 1 85,607 58,250 70,769 58,181 73,918 86,268 86,483 86,364
Change - -31.96% 21.49% -17.79% 27.05% 16.71% 0.25% -0.14%
P/E 14.1x 8.12x 14.8x 12.1x 15.4x 16.3x 15.1x 14.1x
PBR 3.66x 1.84x 2.8x 2.13x 2.38x 2.71x 2.57x 2.38x
PEG - 1.02x -0.5x -1.6x 1.88x 1.1x 1.82x 1.92x
Capitalization / Revenue 0.85x 0.45x 0.65x 0.47x 0.63x 0.72x 0.7x 0.68x
EV / Revenue 1.05x 0.62x 0.87x 0.69x 0.89x 0.99x 0.96x 0.93x
EV / EBITDA 7.29x 4.62x 6.54x 5.49x 6.74x 7.26x 6.99x 6.69x
EV / EBIT 10.7x 6.9x 11.2x 9.88x 12.1x 12.6x 11.9x 11.3x
EV / FCF 20.9x 19x 24.1x 10.3x 32.2x 23.7x 23.2x 21.6x
FCF Yield 4.78% 5.27% 4.16% 9.72% 3.1% 4.22% 4.31% 4.63%
Dividend per Share 2 1.8 1.85 1.85 1.85 1.9 1.996 2.087 2.184
Rate of return 3.18% 5.26% 4.12% 5.44% 4.07% 3.51% 3.66% 3.83%
EPS 2 4.01 4.33 3.04 2.81 3.04 3.486 3.776 4.052
Distribution rate 44.9% 42.7% 60.9% 65.8% 62.5% 57.3% 55.3% 53.9%
Net sales 1 81,747 94,436 81,758 84,186 82,855 87,517 90,142 93,293
EBITDA 1 11,746 12,613 10,822 10,606 10,970 11,876 12,377 12,902
EBIT 1 7,978 8,436 6,345 5,886 6,103 6,873 7,244 7,622
Net income 1 5,053 5,359 3,677 3,332 3,501 3,902 4,176 4,434
Net Debt 1 16,366 15,856 17,739 18,998 21,516 23,192 23,407 23,288
Reference price 2 56.54 35.18 44.86 33.98 46.73 56.96 56.96 56.96
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.($)
16.34x0.99x7.26x3.51% 71.47B
15.6x1.09x7.98x6.97% 79.91B
13.98x0.86x7.52x1.95% 68.04B
24.37x1.81x17.25x0.83% 24.46B
18.04x0.7x7.43x-.--% 10.66B
36.07x2.53x9.74x-.--% 8.82B
8.15x0.36x5.41x7.01% 6.29B
13.75x0.64x7.27x3.74% 5.46B
27.29x0.51x7.4x-.--% 5.13B
39.92x0.33x6.72x2.32% 4.01B
Average 21.35x 0.98x 8.40x 2.63% 28.43B
Weighted average by Cap. 17.23x 1.06x 8.42x 3.64%

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