Company Valuation: DHL Group

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 50,182 69,241 42,394 53,030 39,183 52,579 52,579 -
Change - 37.98% -38.77% 25.09% -26.11% 34.19% 0% -
Enterprise Value (EV) 1 63,110 85,607 58,250 70,769 58,181 74,426 75,225 74,832
Change - 35.65% -31.96% 21.49% -17.79% 27.92% 1.07% -0.52%
P/E ratio 17.2x 14.1x 8.12x 14.8x 12.1x 16x 14.8x 13.4x
PBR 3.64x 3.66x 1.84x 2.8x 2.13x 2.38x 2.3x 2.15x
PEG - 0.2x 1.02x -0.5x -1.6x 1.7x 1.88x 1.3x
Capitalization / Revenue 0.75x 0.85x 0.45x 0.65x 0.47x 0.63x 0.62x 0.59x
EV / Revenue 0.94x 1.05x 0.62x 0.87x 0.69x 0.89x 0.88x 0.84x
EV / EBITDA 7.27x 7.29x 4.62x 6.54x 5.49x 6.79x 6.64x 6.25x
EV / EBIT 13x 10.7x 6.9x 11.2x 9.88x 12.2x 11.8x 10.9x
EV / FCF 24.9x 20.9x 19x 24.1x 10.3x 25x 25.2x 22.2x
FCF Yield 4.02% 4.78% 5.27% 4.16% 9.72% 3.99% 3.96% 4.5%
Dividend per Share 2 1.35 1.8 1.85 1.85 1.85 1.862 1.922 1.994
Rate of return 3.33% 3.18% 5.26% 4.12% 5.44% 3.79% 3.91% 4.05%
EPS 2 2.36 4.01 4.33 3.04 2.81 3.074 3.317 3.672
Distribution rate 57.2% 44.9% 42.7% 60.9% 65.8% 60.6% 57.9% 54.3%
Net sales 1 66,806 81,747 94,436 81,758 84,186 83,498 85,284 88,680
EBITDA 1 8,677 11,746 12,613 10,822 10,606 10,954 11,322 11,982
EBIT 1 4,847 7,978 8,436 6,345 5,886 6,083 6,373 6,886
Net income 1 2,979 5,053 5,359 3,677 3,332 3,514 3,671 3,985
Net Debt 1 12,928 16,366 15,856 17,739 18,998 21,847 22,646 22,253
Reference price 2 40.50 56.54 35.18 44.86 33.98 49.18 49.18 49.18
Nbr of stocks (in thousands) 1,239,059 1,224,639 1,205,059 1,182,263 1,153,116 1,069,118 1,069,118 -
Announcement Date 9/3/21 9/3/22 9/3/23 6/3/24 6/3/25 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16x0.89x6.79x3.79% 62.4B
18.25x1.37x10x5.49% 101B
22.5x1.12x9.92x1.54% 88.11B
24.8x1.69x16.72x1.03% 19.63B
39.09x1.04x12.81x-.--% 12.19B
30.83x2.75x9.65x-.--% 9.05B
117.55x0.72x10.75x-.--% 7.5B
14.98x0.68x8.11x3.59% 5.77B
7.12x0.34x5.28x6.48% 5.7B
7.25x - - - 4.18B
Average 29.84x 1.18x 10.01x 2.43% 31.57B
Weighted average by Cap. 22.52x 1.20x 9.76x 3.23%

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