Financials DHL Group

Equities

DHL

DE0005552004

Air Freight & Logistics

Market Closed - Xetra 11:35:23 2024-04-16 am EDT After market 03:59:47 pm
38.23 EUR -1.95% Intraday chart for DHL Group 38.24 +0.01%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 42,020 50,182 69,241 42,394 53,030 45,615 - -
Enterprise Value (EV) 1 56,132 63,110 85,607 58,250 53,030 65,051 65,063 64,826
P/E ratio 16.3 x 17.2 x 14.1 x 8.12 x 14.8 x 12.8 x 10.9 x 10 x
Yield 3.68% 3.33% 3.18% 5.26% - 4.81% 4.93% 5.11%
Capitalization / Revenue 0.66 x 0.75 x 0.85 x 0.45 x 0.65 x 0.54 x 0.52 x 0.5 x
EV / Revenue 0.89 x 0.94 x 1.05 x 0.62 x 0.65 x 0.77 x 0.74 x 0.71 x
EV / EBITDA 7.19 x 7.27 x 7.29 x 4.62 x 4.9 x 6.05 x 5.51 x 5.26 x
EV / FCF 64.7 x 24.9 x 20.9 x 19 x - 21.8 x 18.9 x 17.2 x
FCF Yield 1.54% 4.02% 4.78% 5.27% - 4.58% 5.28% 5.82%
Price to Book 2.97 x 3.64 x 3.66 x 1.84 x - 1.98 x 1.85 x 1.69 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 38.99 38.99 38.99
Announcement Date 3/10/20 3/9/21 3/9/22 3/9/23 3/6/24 - - -
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 83,968 88,081 91,555
EBITDA 1 7,812 8,677 11,746 12,613 10,822 10,746 11,805 12,319
EBIT 1 4,128 4,847 7,978 8,436 6,345 6,150 6,951 7,449
Operating Margin 6.52% 7.26% 9.76% 8.93% 7.76% 7.32% 7.89% 8.14%
Earnings before Tax (EBT) 1 3,474 4,171 7,359 7,911 5,516 5,362 6,179 6,659
Net income 1 2,623 2,979 5,053 5,359 3,677 3,606 4,168 4,481
Net margin 4.14% 4.46% 6.18% 5.67% 4.5% 4.29% 4.73% 4.89%
EPS 2 2.090 2.360 4.010 4.330 3.040 3.051 3.574 3.898
Free Cash Flow 1 867 2,535 4,092 3,067 - 2,982 3,437 3,772
FCF margin 1.37% 3.79% 5.01% 3.25% - 3.55% 3.9% 4.12%
FCF Conversion (EBITDA) 11.1% 29.22% 34.84% 24.32% - 27.75% 29.12% 30.62%
FCF Conversion (Net income) 33.05% 85.1% 80.98% 57.23% - 82.7% 82.46% 84.19%
Dividend per Share 2 1.250 1.350 1.800 1.850 - 1.877 1.923 1.994
Announcement Date 3/10/20 3/9/21 3/9/22 3/9/23 3/6/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q3 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
Net sales 1 31,446 - 20,036 23,378 22,593 24,029 46,622 24,038 23,776 20,918 20,094 41,012 19,398 21,348 19,970 20,308 19,922 22,158 21,544
EBITDA 1 - - 2,744 3,125 3,168 3,346 - 3,087 3,035 2,709 2,777 - 2,490 2,846 2,408 2,571 2,611 2,995 2,639
EBIT 1 1,504 3,994 1,771 2,213 2,159 2,337 4,496 2,041 1,922 1,638 1,693 3,331 1,372 1,642 1,306 1,477 1,501 1,851 1,509
Operating Margin 4.78% - 8.84% 9.47% 9.56% 9.73% 9.64% 8.49% 8.08% 7.83% 8.43% 8.12% 7.07% 7.69% 6.54% 7.27% 7.53% 8.35% 7%
Earnings before Tax (EBT) 1 1,198 3,675 1,629 2,055 2,036 2,191 4,227 1,889 1,795 1,413 1,473 2,886 1,210 1,420 1,135 1,302 1,275 1,439 1,338
Net income 1 826 2,482 1,087 1,484 1,351 1,461 2,812 1,228 1,335 911 1,031 2,020 807 981 742.4 835.7 849.5 1,025 863.7
Net margin 2.63% - 5.43% 6.35% 5.98% 6.08% 6.03% 5.11% 5.61% 4.36% 5.13% 4.93% 4.16% 4.6% 3.72% 4.11% 4.26% 4.63% 4.01%
EPS 2 0.6600 1.960 0.8700 1.210 1.080 1.170 2.250 1.010 1.070 0.7500 0.8000 1.550 0.6800 0.8100 0.6156 0.7371 0.7410 0.8895 0.7355
Dividend per Share 2 - - - 1.800 - - - - 1.850 - - - - - - - - 1.900 -
Announcement Date 8/5/20 8/5/21 11/4/21 3/9/22 5/3/22 8/5/22 8/5/22 11/8/22 3/9/23 5/3/23 8/1/23 8/1/23 11/8/23 3/6/24 - - - - -
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 - 19,436 19,448 19,211
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.806 x 1.49 x 1.393 x 1.257 x - 1.809 x 1.647 x 1.559 x
Free Cash Flow 1 867 2,535 4,092 3,067 - 2,982 3,437 3,773
ROE (net income / shareholders' equity) 19.3% 21.4% 30.8% 25.4% - 15.6% 16.7% 17.1%
ROA (Net income/ Total Assets) 5.11% 5.54% 8.5% 8.13% - 5.15% 5.61% 5.97%
Assets 1 51,320 53,738 59,450 65,935 - 69,999 74,291 75,058
Book Value Per Share 2 11.40 11.10 15.40 19.10 - 19.70 21.10 23.00
Cash Flow per Share 2 4.810 6.220 8.110 9.030 - 5.350 6.330 6.750
Capex 1 3,612 2,999 3,546 4,123 - 3,420 3,518 3,682
Capex / Sales 5.7% 4.49% 4.34% 4.37% - 4.07% 3.99% 4.02%
Announcement Date 3/10/20 3/9/21 3/9/22 3/9/23 3/6/24 - - -
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
14
Last Close Price
38.99 EUR
Average target price
45.83 EUR
Spread / Average Target
+17.55%
Consensus