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PostNL NVPNL.ASCompetitor analysis, valuation and peers

Netherlands · EUR·Industrials›Air Freight/Couriers
Momentum weak 22
Mkt cap
$473M
US dollars, full cap
Free float
66%
of shares outstanding
$/day
$1.55M
20-day average traded
Fwd P/E
30.5×
forward earnings
ROIC−WACC
n/a
WACC 5.0%
Hurdle
n/a
no reverse DCF
Official | Implied
BBB- / BBB
agencies · bond market
Next earnings
108 days
22 Feb 2027
Close · EUR€0.82
1D+0.2%
1W+1.8%
1M-2.2%
3M-11.0%
6M-15.9%
YTD-23.0%
1Y-15.6%
ATR %2.4%
52w lowhigh36.3% off high

What PostNL does

Employees: 31,531

PostNL at a glance

Size PostNL (PNL.AS) is a Netherlands Industrials company (Air Freight/Couriers) with a market value of $473M, the 56th largest of 61 Netherlands companies the cockpit tracks. Shares closed at €0.82 on 6 Nov 2026.

Performance Over six months the shares fell 15.9%, against -11.6% for the median peer and +0.4% for the Netherlands market (cap-weighted) — 7th lowest of 20 in its peer set.

Growth Revenue grew 2.0% over the last twelve months (peer median +6.7%); the operating margin is 1.4% (peer median 3.1%).

Valuation It trades at 30.5× forward earnings against a peer median of 23.4× (4th most expensive of 8).

Credit PostNL has 2 bonds outstanding ($668M), rated BBB- by the agencies and trading like BBB at a weighted spread of 114 bp.

Next results Next results expected around 22 Feb 2027 (exchange calendar; dates can move).

Relative performance

9010011 May 202611 Aug 20266 Nov 2026Peer median 87PNL.AS 85
Six months, rebased to 100: PostNL against the median of its 20 peers (local-currency closes).

PostNL financials

Reported figures in EUR; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenuen/a€3.31B€3.24B€3.15B€3.13B
Revenue growth—+2%+3%+1%—
Gross profitn/a€165M€168M€212M-€1.17B
EBITDAn/a€242M€220M€257M-€1.22B
Net incomen/a-€17.0M€18.0M€55.0M-€993M
Free cash flown/a€127M€158M€193M€185M
Capital expendituren/a€106M€100M€126M€138M
Total debtn/a€1.17B€973M€1.06B€1.08B

Quarterly statements and history in the cockpit →

PostNL competitor charts

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.

Performance: 6-month against 1-month return

-40%-20%0%-20%-10%0%+10%603648300350MAHLOG6035355607RLGT9310S08TVSSCSSINDHUTRAD300873000701002485603836F836039676033290027695609PNL.AS6-month return →1-month return →
Up and to the right = strong over both horizons. PostNL is the large dot.

Fundamentals: revenue growth against valuation

-75%-50%-25%0%+25%25×50×75×MAHLOG5607RLGTS08TVSSCS300873603967PNL.ASRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. PostNL is the large dot.

PostNL competitors and peer comparison

How PostNL compares with its peers

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.

PostNL against its 20 peers (data as of 6 Nov 2026)
MeasurePNL.ASPeer medianRank in peer set
1-month return-2.2%-6.9%6th highest of 21
6-month return-15.9%-11.6%7th lowest of 20
Distance from 52-week high-36.3%-25.7%5th lowest of 21
Revenue growth (TTM)+2.0%+6.7%10th lowest of 21
Operating margin1.4%3.1%6th lowest of 20
Forward P/E30.5×23.4×4th most expensive of 8
Net debt / EBITDA2.3×1.7×7th most indebted of 16
Bond spread114 bpn/a—

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
PostNL PNL.ASNetherlands$473M-16%+2%1%30.5×n/an/a
Shanghai Shine-Link International Logistics 603648.SSChina$467M-15%+10%11%n/a-0.7%+0.3%
HPF 300350.SZChina$465M-13%+73%-5%n/an/an/a
Mahindra Logistics MAHLOG.NSIndia$443M+5%+20%2%34.9×33.7%+16.5%
Guangzhou Jiacheng International Logistics 603535.SSChina$427M-30%-29%-2%n/a16.0%-0.4%
Farglory Free Trade Zone Investment 5607.TWTaiwan$534M0%+30%42%8.3×-2.7%+16.8%
Radiant Logistics RLGTUnited States$418M+8%+4%2%23.4×16.3%+0.8%
Japan Transcity 9310.TJapan$538M+15%+1%7%n/a1.3%+4.4%
Singapore Post S08.SISingapore$546M-17%-73%3%77.5×n/an/a
TVS Supply Chain Solutions TVSSCS.NSIndia$547M-4%+17%2%31.6×14.4%+9.7%
Sindhu Trade Links SINDHUTRAD.NSIndia$405M-12%-64%2%n/an/an/a
Hichain Logistics 300873.SZChina$560M-22%+15%14%20.8×3.2%+12.1%
Xiamen Xinde 000701.SZChina$568M-3%-22%n/an/an/an/a
LEAP India LEAPIND.NSIndia$569Mn/a+56%27%n/an/an/a
Cedar Development 002485.SZChina$392M-2%-32%-17%n/an/an/a
Bondex Supply Chain Management 603836.SSChina$364M-14%+17%1%n/an/an/a
COSCO Shipping International Singapore F83.SISingapore$347M-18%+10%7%n/a17.2%+0.9%
China Master Logistics 603967.SSChina$644M-11%+11%4%13.9×-12.1%+11.4%
Shanghai Ace Investment & Development 603329.SSChina$341M-19%-60%10%n/a-6.5%+10.9%
Guangdong Prolto Supply Chain Management 002769.SZChina$337M-39%-66%-13%n/a41.0%-42.0%
Dimerco Express 5609.TWOTaiwan$333M-1%+2%4%n/a-15.9%+5.3%

PostNL bonds and credit

PostNL has 2 bonds outstanding with $668M face value. The agencies rate it BBB-; its bonds trade like BBB. Weighted yield 4.20%, a spread of 114 bp over government bonds.

Every bond, yield and spread in the cockpit →

Questions

Which companies are PostNL's closest peers?
The cockpit's peer set: Shanghai Shine-Link International Logistics (603648.SS), HPF (300350.SZ), Mahindra Logistics (MAHLOG.NS), Guangzhou Jiacheng International Logistics (603535.SS), Farglory Free Trade Zone Investment (5607.TW), Radiant Logistics (RLGT), Japan Transcity (9310.T), Singapore Post (S08.SI).
Is PostNL expensive compared with its peers?
On forward p/e it trades at 30.5× against a peer median of 23.4×, 4th most expensive of 8 in its peer set.
How has PostNL stock performed?
Over six months to 6 Nov 2026 the shares returned -15.9% against -11.6% for the median peer; over one year -15.6%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.