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German online food and grocery delivery platform operating local brands across Europe, Asia, Middle East and Latin America.
German online food and grocery delivery platform operating local brands across Europe, Asia, Middle East and Latin America.
Takes a commission from restaurants on each order, plus delivery fees from customers and advertising from restaurants competing for visibility; in grocery it runs its own small warehouses, so it earns the retail margin. Its Gulf arm Talabat was listed separately in Dubai in 2024, with Delivery Hero still the majority owner.
Moat: narrow (network effects, scale, brand). Local market leadership (often #1 or #2) creates two-sided network effects between diners and restaurants.
Headquarters: Berlin, Germany · Founded: 2011 · Employees: 54,721
Size Delivery Hero (DHER.DE) is a Germany Industrials company (Air Freight/Couriers) with a market value of $12.9B, the 45th largest of 205 Germany companies the cockpit tracks. Shares closed at €37.00 on 6 Nov 2026.
Performance Over six months the shares gained 31.0%, against -6.9% for the median peer and +2.6% for the Germany market (cap-weighted) — 2nd highest of 20 in its peer set.
Growth Revenue grew 11.4% over the last twelve months (peer median +10.8%); the operating margin is -0.5% (peer median 5.2%).
Valuation It trades at 0.9× enterprise value to sales against a peer median of 0.9× (9th most expensive of 21).
Capital Return on invested capital runs 10.8 points below its cost of capital (9.6% WACC).
Credit Delivery Hero has 3 bonds outstanding ($2.51B).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €14.9B | €14.1B | €12.3B | €9.94B | €8.58B |
| Revenue growth | — | +14% | +24% | +16% | — |
| Gross profit | €2.93B | €3.01B | €2.85B | €2.39B | €1.82B |
| EBITDA | €388M | €531M | €53.0M | -€213M | -€1.01B |
| Net income | -€779M | -€783M | -€882M | -€2.30B | -€3.01B |
| Free cash flow | -€116M | -€260M | €303M | -€290M | -€936M |
| Capital expenditure | €306M | €326M | €280M | €261M | €253M |
| Total debt | n/a | €4.63B | €5.67B | €5.64B | €5.68B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Delivery Hero DHER.DE | $12.9B | +31% | +11% | 0% | 0.9× | n/a |
| Uber UBER | $140B | -9% | +14% | 13% | 2.6× | 13.9% |
| DoorDash DASH | $78.3B | +10% | +35% | 6% | 4.4× | 45.3% |
| Meituan-w 3690.HK | $63.3B | -5% | +10% | -12% | 0.9× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | DHER.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.6% | +5.4% | 7th lowest of 21 |
| 6-month return | +31.0% | -6.9% | 2nd highest of 20 |
| Distance from 52-week high | -7.1% | -17.2% | 4th highest of 21 |
| Revenue growth (TTM) | +11.4% | +10.8% | 9th highest of 21 |
| Operating margin | -0.5% | 5.2% | 3rd lowest of 21 |
| EV / Sales | 0.9× | 0.9× | 9th most expensive of 21 |
| ROIC minus cost of capital | -10.8 pp | +6.1 pp | 2nd lowest of 21 |
| Net debt / EBITDA | 6.7× | 1.4× | 2nd most indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Delivery Hero DHER.DE | Germany | $12.9B | +31% | +11% | 0% | 0.9× | n/a | n/a |
| Delivery Hero SE TEMP DHE1.DE | Germany | $12.9B | n/a | +11% | 0% | 1.0× | n/a | n/a |
| J&T Global Express 1519.HK | Hong Kong | $11.9B | -2% | +32% | 6% | 0.9× | -3.8% | +51.4% |
| Grab GRAB | United States | $13.9B | -8% | +23% | 11% | 2.7× | 17.8% | +48.4% |
| C.H. Robinson CHRW | United States | $14.5B | -27% | +10% | 5% | 0.9× | 9.2% | 0.0% |
| Hyundaiglovis 086280.KS | South Korea | $10.9B | -13% | +12% | 6% | 0.5× | -10.8% | +12.3% |
| Zto Express-w 2057.HK | Hong Kong | $15.6B | -19% | +21% | 20% | 1.8× | -1.6% | +13.5% |
| Ryder System R | United States | $10.2B | +11% | +3% | 8% | 1.4× | 7.9% | +8.5% |
| YTO Express 600233.SS | China | $9.63B | -13% | +8% | 9% | 0.8× | -12.2% | +16.6% |
| Jd Logistics 2618.HK | Hong Kong | $9.10B | -29% | +29% | 3% | 0.3× | -0.4% | +23.4% |
| Nippon Express Hldgs 9147.T | Japan | $8.22B | +35% | +2% | 3% | 0.7× | 7.9% | +4.4% |
| Brambles BXB.AX | Australia | $20.4B | +2% | +1% | 17% | 3.2× | 8.9% | +8.3% |
| Yunnan Yuntianhua 600096.SS | China | $7.17B | -28% | -19% | 11% | 1.4× | -1.7% | -1.5% |
| S.F 002352.SZ | China | $23.9B | -7% | +6% | 5% | 0.6× | -12.9% | +14.9% |
| S.F 6936.HK | Hong Kong | $23.9B | -12% | +11% | 5% | 0.6× | -11.4% | +14.1% |
| Expeditors International EXPD | United States | $24.0B | +18% | +19% | 10% | 1.8× | 8.9% | +2.9% |
| Sinotrans 601598.SS | China | $6.74B | +18% | -1% | 0% | 0.5× | 4.3% | +2.7% |
| GXO Logistics GXO | United States | $6.33B | +7% | +7% | 3% | 0.9× | 20.2% | +16.3% |
| Swiggy SWIGGY.NS | India | $5.61B | -32% | +42% | -15% | 1.8× | n/a | n/a |
| SG Holdings Co., Ltd. 9143.T | Japan | $5.56B | +1% | +14% | 5% | 0.7× | -2.6% | +4.6% |
| Logista Integral LOG.MC | Spain | $5.42B | +15% | +4% | 2% | 0.4× | -5.9% | +5.4% |
Delivery Hero has 3 bonds outstanding with $2.51B face value.