Financials DHL Group

Equities

DHL

DE0005552004

Air Freight & Logistics

Market Closed - Xetra 16:39:20 20/05/2024 BST 5-day change 1st Jan Change
39.88 EUR -0.23% Intraday chart for DHL Group +0.76% -11.09%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 42,020 50,182 69,241 42,394 53,030 46,656 - -
Enterprise Value (EV) 1 56,132 63,110 85,607 58,250 70,769 65,709 65,529 64,861
P/E ratio 16.3 x 17.2 x 14.1 x 8.12 x 14.8 x 13.6 x 11.5 x 10.7 x
Yield 3.68% 3.33% 3.18% 5.26% 4.12% 4.7% 4.87% 5.06%
Capitalization / Revenue 0.66 x 0.75 x 0.85 x 0.45 x 0.65 x 0.56 x 0.53 x 0.51 x
EV / Revenue 0.89 x 0.94 x 1.05 x 0.62 x 0.87 x 0.79 x 0.75 x 0.71 x
EV / EBITDA 7.19 x 7.27 x 7.29 x 4.62 x 6.54 x 6.16 x 5.61 x 5.3 x
EV / FCF 64.7 x 24.9 x 20.9 x 19 x 24.1 x 21.5 x 19.7 x 17.8 x
FCF Yield 1.54% 4.02% 4.78% 5.27% 4.16% 4.65% 5.07% 5.61%
Price to Book 2.97 x 3.64 x 3.66 x 1.84 x 2.8 x 2.01 x 1.9 x 1.76 x
Nbr of stocks (in thousands) 1,235,524 1,239,059 1,224,639 1,205,059 1,182,263 1,169,919 - -
Reference price 2 34.01 40.50 56.54 35.18 44.86 39.88 39.88 39.88
Announcement Date 10/03/20 09/03/21 09/03/22 09/03/23 06/03/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 63,341 66,806 81,747 94,436 81,758 83,662 87,392 91,010
EBITDA 1 7,812 8,677 11,746 12,613 10,822 10,661 11,680 12,234
EBIT 1 4,128 4,847 7,978 8,436 6,345 6,052 6,848 7,302
Operating Margin 6.52% 7.26% 9.76% 8.93% 7.76% 7.23% 7.84% 8.02%
Earnings before Tax (EBT) 1 3,474 4,171 7,359 7,911 5,516 5,218 5,942 6,395
Net income 1 2,623 2,979 5,053 5,359 3,677 3,509 4,058 4,331
Net margin 4.14% 4.46% 6.18% 5.67% 4.5% 4.19% 4.64% 4.76%
EPS 2 2.090 2.360 4.010 4.330 3.040 2.941 3.463 3.735
Free Cash Flow 1 867 2,535 4,092 3,067 2,942 3,052 3,325 3,641
FCF margin 1.37% 3.79% 5.01% 3.25% 3.6% 3.65% 3.8% 4%
FCF Conversion (EBITDA) 11.1% 29.22% 34.84% 24.32% 27.19% 28.63% 28.47% 29.76%
FCF Conversion (Net income) 33.05% 85.1% 80.98% 57.23% 80.01% 86.99% 81.94% 84.07%
Dividend per Share 2 1.250 1.350 1.800 1.850 1.850 1.875 1.941 2.017
Announcement Date 10/03/20 09/03/21 09/03/22 09/03/23 06/03/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 31,446 - 23,378 22,593 24,029 46,622 24,038 23,776 20,918 20,094 41,012 19,398 21,348 20,251 20,394 20,061 22,215 21,544 20,931
EBITDA 1 - - 3,125 3,168 3,346 - 3,087 3,035 2,709 2,777 - 2,490 2,846 2,385 2,542 2,624 3,006 2,639 2,845
EBIT 1 1,504 3,994 2,213 2,159 2,337 4,496 2,041 1,922 1,638 1,693 3,331 1,372 1,642 1,314 1,363 1,504 1,927 1,509 1,711
Operating Margin 4.78% - 9.47% 9.56% 9.73% 9.64% 8.49% 8.08% 7.83% 8.43% 8.12% 7.07% 7.69% 6.49% 6.68% 7.5% 8.67% 7% 8.17%
Earnings before Tax (EBT) 1 1,198 3,675 2,055 2,036 2,191 4,227 1,889 1,795 1,413 1,473 2,886 1,210 1,420 1,146 1,302 1,275 1,439 1,338 1,466
Net income 1 826 2,482 1,484 1,351 1,461 2,812 1,228 1,335 911 1,031 2,020 807 981 743 761.9 865.8 1,130 863.7 995.4
Net margin 2.63% - 6.35% 5.98% 6.08% 6.03% 5.11% 5.61% 4.36% 5.13% 4.93% 4.16% 4.6% 3.67% 3.74% 4.32% 5.09% 4.01% 4.76%
EPS 2 0.6600 1.960 1.210 1.080 1.170 2.250 1.010 1.070 0.7500 0.8000 1.550 0.6800 0.8100 0.6200 0.6800 0.7452 0.9778 0.7355 0.8527
Dividend per Share 2 - - 1.800 - - - - 1.850 - - - - 1.850 - - - 1.900 - -
Announcement Date 05/08/20 05/08/21 09/03/22 03/05/22 05/08/22 05/08/22 08/11/22 09/03/23 03/05/23 01/08/23 01/08/23 08/11/23 06/03/24 07/05/24 - - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 14,112 12,928 16,366 15,856 17,739 19,052 18,873 18,205
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.806 x 1.49 x 1.393 x 1.257 x 1.639 x 1.787 x 1.616 x 1.488 x
Free Cash Flow 1 867 2,535 4,092 3,067 2,942 3,052 3,325 3,641
ROE (net income / shareholders' equity) 19.3% 21.4% 30.8% 25.4% 19.2% 15.2% 16.8% 17.1%
ROA (Net income/ Total Assets) 5.11% 5.54% 8.5% 8.13% 7.98% 5.19% 5.67% 5.99%
Assets 1 51,320 53,738 59,450 65,935 46,080 67,548 71,608 72,279
Book Value Per Share 2 11.40 11.10 15.40 19.10 16.00 19.80 21.00 22.70
Cash Flow per Share 2 4.810 6.220 8.110 9.030 7.790 5.530 5.900 5.680
Capex 1 3,612 2,999 3,546 4,123 3,370 3,238 3,516 3,682
Capex / Sales 5.7% 4.49% 4.34% 4.37% 4.12% 3.87% 4.02% 4.05%
Announcement Date 10/03/20 09/03/21 09/03/22 09/03/23 06/03/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
15
Last Close Price
39.88 EUR
Average target price
45.08 EUR
Spread / Average Target
+13.05%
Consensus