DHL AG

€58.02As of Sun 8 Nov 2026, 12:00 UTC

XETRA:DHLIndustrials

Country Germany

PE (Fwd) •••

TSR 10Y CAGR 11.72%

Div yield 3.28%

ROE 17.87%

Integrated Freight & Logistics

Beta (5Y) 1.11

PE TTM 17.35

TSR TTM 52.01%

Mkt cap €64.26B

ROIC 9.35%

SE Grade™

Value

Quality

Moat

Consensus

Reference

€74

26.97%

(36.61%)

Hold 9|0|1|10|4

TTM

FYE 31 Dec EUR

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026E

Trend

10Y

Peers

10.13

Revenue€B

13.91

14.46

14.47

14.40

14.41

14.73

14.83

15.04

15.10

14.99

10.41

0.79%

0.98%

26.90

Revenue growth%

2.68

2.62

2.05

3.62

5.13

3.58

5.80

7.86

5.13

7.81

18.40

5.80

4.37

8.86

Gross margin%

19.85

17.29

15.17

14.32

12.13

11.97

11.60

11.90

13.32

10.99

8.03

11.90

12.73

27.81

Operating margin%

21.34

19.86

20.76

21.03

18.81

19.71

17.83

16.15

18.38

21.00

18.66

18.38

19.79

18.21

Net margin%

13.09

16.08

15.01

14.22

11.41

12.11

11.38

9.58

10.75

13.27

9.74

11.38

12.60

20.96

P/E ratio (avg)x

29.06

31.26

31.95

31.63

28.63

31.81

35.15

36.54

34.19

37.44

6.923

35.15

31.88

11.25

EV/EBITx

10.30

9.135

8.898

8.340

7.514

6.880

7.460

6.645

5.854

5.468

17.85

6.645

7.487

20.44

FCF yield (avg)%

26.41

29.25

28.31

30.63

32.86

31.06

33.78

32.26

31.08

29.17

27.10

31.08

30.85

18.69

FCF margin%

1.86

4.75

5.99

5.46

5.86

6.31

8.32

10.22

12.62

9.93

23.02

9.93

6.15

0.940

FCF / Net incomex

2.211

2.486

2.398

2.335

2.405

2.806

2.892

2.780

3.092

3.293

1.598

2.892

2.633

29.87

ROIC%

34.90

35.35

36.10

37.89

35.19

36.26

38.28

39.19

39.29

37.43

7.07

38.28

36.84

26.12

Return on equity%

17.62

15.36

16.31

17.81

20.70

21.81

24.72

25.29

24.08

23.17

4.45

24.08

21.25

11.99

Return on assets%

23.62

21.52

23.34

21.70

21.78

24.29

23.64

21.84

24.73

23.19

24.61

23.64

23.27

2.06

EPS€

4.11

4.17

4.13

4.32

4.59

5.08

5.60

6.32

6.40

7.49

2.14

10.26%

6.86%

—

20.28

EPS growth%

30.51

32.45

29.56

30.66

33.33

35.09

37.70

38.82

36.39

38.84

23.23

37.70

34.21

7.06

Bookvalue per sh€

2.17

2.24

2.42

2.75

2.71

2.83

3.07

3.49

3.33

3.35

7.70

4.30%

5.49%

—

5.90

FCF per share€

11.28

13.12

13.56

14.77

17.71

21.53

24.84

28.27

29.35

34.62

3.65

14.35%

13.52%

—

6.58

Dividend per sh€

5.35

5.16

5.09

5.39

5.67

6.42

7.18

6.95

7.22

7.44

8.23

5.58%

4.70%

—

2.73

Div yield (avg)%

15.91

14.01

12.75

12.03

12.77

14.63

15.70

13.46

15.65

18.59

12.70

15.65

14.32

9.03

Payout ratio%

0.40

1.40

2.73

2.40

4.95

2.77

4.75

7.36

7.84

6.27

4.95

2.75

1.095

Shares (diluted)B

0.968

0.936

0.948

0.957

0.846

0.904

0.859

0.801

0.708

0.699

1.131

(3.74%)

(2.32%)

20.20

Buyback yield%

23.48

26.26

25.76

26.58

29.43

32.07

34.36

36.01

36.40

34.71

3.50

34.71

30.75

0.160

D/E ratiox

0.153

0.165

0.171

0.176

0.161

0.164

0.158

0.170

0.163

0.312

0.163

0.164

6.371

Enterprise value€B

1.066

1.008

0.986

1.051

1.025

0.935

0.949

1.031

1.128

1.006

6.932

(0.38%)

(1.43%)

2.673

LT debt€B

9.643

11.20

13.36

14.48

14.27

13.71

16.27

18.12

17.31

20.65

8.119

7.67%

7.41%

Peers (US$72.16B)

Cap (US$)

Siemens Energy AG

113.4B

38.42x

Rheinmetall AG

42.59B

43.77x

Daimler Truck Holding…

34.43B

11.00x

FedEx Corporation

72.17B

16.61x

Capital

TTM

10Y

Leveragex

0.884

(0.071)

(0.066)

EBIT/Intx

2.983

0.506

0.488

Own earn%

(33.74)

23.64

27.74

Sh yield%

22.93

50.06

44.45

Owners

Insiders/Inst%

14.61

42.37

Short interest%

2.45

SBC / revenue%

3.58

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

Op margin range%

16–21

$1 testx

—

Incr. ROIC%

DHL AG provides logistics and mail communication services in Germany and internationally through five segments: Express, Global Forwarding, Supply Chain, eCommerce, and Post and Parcel Germany. It offers time-definite courier and express delivery, air, ocean and overland freight forwarding, contract logistics, parcel delivery in Europe, Asia and the United States, and letter, parcel and marketing services within Germany.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

€14.99B

0.98%

1.00×

Cost of revenue

€10.49B

0.98%

1.00×

Operating expenses

€2.151B

1.43%

1.05×