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 62,810 - -
Change - -38.77% 25.09% -26.11% 33.74% 19.86% - -
Enterprise Value (EV) 1 85,607 58,250 70,769 58,181 73,918 85,425 85,621 85,517
Change - -31.96% 21.49% -17.79% 27.05% 15.57% 0.23% -0.12%
P/E 14.1x 8.12x 14.8x 12.1x 15.4x 16.2x 15x 14x
PBR 3.66x 1.84x 2.8x 2.13x 2.38x 2.69x 2.55x 2.35x
PEG - 1.02x -0.5x -1.6x 1.88x 1.1x 1.84x 1.97x
Capitalization / Revenue 0.85x 0.45x 0.65x 0.47x 0.63x 0.72x 0.69x 0.67x
EV / Revenue 1.05x 0.62x 0.87x 0.69x 0.89x 0.97x 0.95x 0.91x
EV / EBITDA 7.29x 4.62x 6.54x 5.49x 6.74x 7.17x 6.9x 6.62x
EV / EBIT 10.7x 6.9x 11.2x 9.88x 12.1x 12.3x 11.8x 11.2x
EV / FCF 20.9x 19x 24.1x 10.3x 32.2x 23.5x 23x 21.4x
FCF Yield 4.78% 5.27% 4.16% 9.72% 3.1% 4.26% 4.35% 4.68%
Dividend per Share 2 1.8 1.85 1.85 1.85 1.9 1.999 2.106 2.211
Rate of return 3.18% 5.26% 4.12% 5.44% 4.07% 3.52% 3.71% 3.9%
EPS 2 4.01 4.33 3.04 2.81 3.04 3.506 3.791 4.06
Distribution rate 44.9% 42.7% 60.9% 65.8% 62.5% 57% 55.6% 54.4%
Net sales 1 81,747 94,436 81,758 84,186 82,855 87,830 90,467 93,648
EBITDA 1 11,746 12,613 10,822 10,606 10,970 11,923 12,408 12,926
EBIT 1 7,978 8,436 6,345 5,886 6,103 6,926 7,285 7,660
Net income 1 5,053 5,359 3,677 3,332 3,501 3,943 4,191 4,438
Net Debt 1 16,366 15,856 17,739 18,998 21,516 22,616 22,811 22,708
Reference price 2 56.54 35.18 44.86 33.98 46.73 56.72 56.72 56.72
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.($)
15.35x1.09x7.94x7.05% 79.14B
16.18x0.97x7.17x3.52% 70.69B
14.15x0.86x7.61x2.05% 68.72B
29.17x1.21x10.39x0.58% 43.13B
12.58x9.38x28.91x5.47% 41.62B
25.12x1.17x12.55x3.04% 32.15B
24.64x1.84x17.64x0.82% 25.02B
13.95x0.4x3.99x2.98% 22.92B
9.91x1.42x5.22x4.26% 14.82B
Average 17.89x 2.04x 11.27x 3.31% 44.25B
Weighted average by Cap. 17.58x 1.94x 10.86x 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