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Employees: 18,637
Size HelloFresh (HFG.DE) is a Germany Consumer Discretionary company (Internet Retail) with a market value of $483M, the 177th largest of 205 Germany companies the cockpit tracks. Shares closed at €2.99 on 6 Nov 2026.
Performance Over six months the shares fell 27.9%, against +5.8% for the median peer and +2.6% for the Germany market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue fell 12.6% over the last twelve months (peer median -3.4%); the operating margin is 0.0% (peer median 2.2%).
Valuation It trades at 9.7× forward earnings against a peer median of 24.7× (cheapest of 15).
Price implies For today's price to make sense, revenue must grow about 24% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is +12 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.9 points below its cost of capital (5.0% WACC).
Credit HelloFresh has 1 bond outstanding ($390M), rated BB by the agencies and trading like B at a weighted spread of 746 bp.
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €6.36B | €6.76B | €7.66B | €7.60B | €7.61B |
| Revenue growth | — | -12% | +1% | 0% | — |
| Gross profit | €3.56B | €3.93B | €4.51B | €4.70B | €4.82B |
| EBITDA | €278M | €237M | €97.1M | €358M | €363M |
| Net income | -€34.8M | -€92.6M | -€136M | €19.4M | €127M |
| Free cash flow | €132M | €224M | €156M | €133M | -€58.6M |
| Capital expenditure | €141M | €130M | €166M | €306M | €418M |
| Total debt | €751M | €708M | €914M | €714M | €666M |
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.
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 | HFG.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +18.9% | -0.8% | 3rd highest of 21 |
| 6-month return | -27.9% | +5.8% | 4th lowest of 21 |
| Distance from 52-week high | -52.2% | -25.5% | 2nd lowest of 21 |
| Revenue growth (TTM) | -12.6% | -3.4% | 6th lowest of 21 |
| Operating margin | 0.0% | 2.2% | 6th lowest of 21 |
| Forward P/E | 9.7× | 24.7× | cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | 24.1% | 6.6% | 6th most demanding of 16 |
| Growth delivered (Del g) | +12.5% | -3.7% | 7th highest of 16 |
| Hurdle (Req g minus delivered) | +11.6 pp | +6.7 pp | 7th most demanding of 16 |
| ROIC minus cost of capital | -4.9 pp | -2.4 pp | 7th lowest of 18 |
| Net debt / EBITDA | 1.8× | 1.8× | 7th least indebted of 13 |
| Bond spread | 746 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| HelloFresh HFG.DE | Germany | $483M | -28% | -13% | 0% | 9.7× | 24.1% | +12.5% |
| Kits Eyecare KITS.TO | Canada | $462M | +64% | +21% | 4% | 85.5× | 28.3% | +21.9% |
| MSTC MSTCLTD.NS | India | $439M | +30% | +21% | 58% | n/a | 34.9% | -13.9% |
| Rumere 301088.SZ | China | $422M | -16% | -25% | 1% | 20.3× | 30.8% | -6.9% |
| Belluna 9997.T | Japan | $629M | +22% | +5% | 8% | n/a | n/a | n/a |
| Groupon GRPN | United States | $630M | -13% | +2% | 2% | 33.7× | 27.5% | -18.9% |
| Oisix 3182.T | Japan | $368M | +17% | -5% | 3% | 12.1× | -6.6% | +20.2% |
| ASOS ASC.L | United Kingdom | $670M | +88% | -15% | -1% | n/a | 1.2% | -5.5% |
| Yiwu Huading Nylon 601113.SS | China | $670M | -28% | -5% | 1% | 41.2× | n/a | n/a |
| ASKUL 2678.T | Japan | $682M | +2% | -20% | -5% | 29.2× | n/a | n/a |
| AO World AO..L | United Kingdom | $687M | +6% | +11% | 4% | 13.3× | 3.0% | -5.3% |
| Aramis ARAMI.PA | France | $327M | +22% | -2% | 1% | 185.8× | 4.9% | +23.4% |
| Global Top E-Commerce 002640.SZ | China | $757M | -12% | -6% | 1% | n/a | 33.4% | -19.8% |
| Aucnet 3964.T | Japan | $824M | +12% | +12% | 15% | 15.5× | 0.1% | +21.6% |
| Hangzhou Onechance Tech Crop 300792.SZ | China | $839M | -32% | -19% | 9% | 46.2× | 19.9% | -3.7% |
| Petco Health & Wellness WOOF | United States | $848M | +5% | -1% | 3% | 12.5× | 6.6% | +3.9% |
| THG THG.L | United Kingdom | $877M | +30% | +10% | -1% | n/a | n/a | n/a |
| Huakai Yibai Technology 300592.SZ | China | $966M | +27% | -11% | 7% | 15.7× | 3.4% | +132.3% |
| IndiaMART InterMESH INDIAMART.NS | India | $985M | -26% | +12% | 34% | 17.0× | 8.2% | +18.6% |
| NanJi E-Commerce 002127.SZ | China | $1.05B | -1% | -28% | -12% | 29.9× | 6.4% | -9.0% |
| Akso Health Group Sponsored ADR AHG | United States | $1.14B | -34% | -6% | -29% | n/a | n/a | n/a |
HelloFresh has 1 bond outstanding with $390M face value. The agencies rate it BB; its bonds trade like B. Weighted yield 10.47%, a spread of 746 bp over government bonds.