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Koninklijke Ahold Delhaize N.V (1AD) Fair Value & Analysis

Consumer Defensive · IT · Market cap €31.8B · ISIN NL0011794037

What is Koninklijke Ahold Delhaize N.V really worth?

KA Koninklijke Ahold Delhaize N.V 1AD · MI
Price€31.64
Fair Value€35.95
Upside+13.6%
Quality69/100

A solid business, trading 12% below our fair value of €35.95.

As of Sep 3, 2026, the fair value of Koninklijke Ahold Delhaize N.V is €35.95 per share against a price of €31.64, so the fair value sits 14% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

Watch Koninklijke Ahold Delhaize N.V for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card. Watch for free

Strengths

Healthy Growth (revenue 3y +2.0 %/yr)
Low debt · generates free cash flow

Risks

!Thin margins · 2.5% net margin
!Narrow moat 41/100

For context

·3.92% dividend yield
Evidence: High Range €26.96 – €44.94

Fair value as of: Sep 3, 2026

From 22 valuation models · updated 3 days ago

Share price −8.1% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits in the lower half of our model range, the side with the larger margin of safety.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (5 years)

€41.73 €18.70 Fair Value €35.95 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 3, 2026.

How to read this chart

60‑month range €18.70 – €41.73 · fair‑value band €26.96 – €44.94 · the €31.64 price screens below the €35.95 fair value. Dashed = 300-day average. As of Sep 3, 2026.

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Analysis

Koninklijke Ahold Delhaize N.V (1AD) currently trades at €31.64, while our model-based Fair Value estimate is €35.95, implying the stock looks roughly 12.0% undervalued today. The Quality Score stands at 69/100 (solid quality), in the Consumer Defensive sector. Bull case: the Growth DCF group reads highest at a median of €51.98 per share, and 16 of the 22 models we run sit above the €31.64 price. Bear case: the Asset-Based group reads lowest at €10.79, and 6 of the 22 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Koninklijke Ahold Delhaize N.V generated revenue of €91.4B at a net margin of 2.5%. Revenue declined 4.3% year over year. It earns a return on equity of 15.0%. Net debt stands at €1.0B. Fundamentals as of Sep 3, 2026

Our scenario range runs from €26.96 (bear case) to €44.94 (bull case); at €31.64, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 30% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −27% fair-value upside, at 14%, 1AD screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 7 months have passed since. In that time the company retained roughly €0.7645 per share, which is 2.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF €50.16 €69.41 €102.22 77
Growth DCF €52.06 €70.63 €100.26 76
Owner Earnings €36.95 €51.24 €75.61 73
All 22 models by family
DCF Models
FCF DCF €50.16 €69.41 €102.22 77
Owner Earnings €36.95 €51.24 €75.61 73
5Y Revenue Exit €36.48 €51.06 €70.85 70
5Y EBITDA Exit €36.46 €51.01 €68.98 73
5Y P/E Exit €32.61 €44.40 €57.52 69
10Y Revenue Exit €40.40 €54.03 €69.54 65
10Y EBITDA Exit €41.26 €53.99 €68.27 67
10Y P/E Exit €38.89 €49.61 €60.49 62
Earnings-Based
Graham-Dodd €17.46 €32.24 €39.95 64
EPV €25.13 €29.52 €33.35 71
Multiples
P/E Multiple €26.96 €35.95 €44.94 63
P/S Multiple €32.74 €43.65 €54.57 58
P/B Multiple €21.74 €28.98 €36.23 55
EV/EBIT €25.05 €33.79 €42.53 66
EV/EBITDA €32.87 €44.21 €55.55 67
EV/Revenue €30.64 €44.28 €57.91 53
Asset-Based
NCAV (Graham) €8.05 €10.79 €16.10 54
Growth DCF
Growth DCF €52.06 €70.63 €100.26 76
Rev-Margin DCF €36.48 €51.98 €70.43 70
Economic Profit
Residual Income €16.98 €22.26 €64.23 63
ROIC Compounder €25.70 €31.15 €36.76 69
Growth Earnings
Growth-Adj P/E €19.55 €27.93 €36.31 65

Widest divergence: Growth DCF (€51.98) versus Asset-Based (€10.79). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/E ratio 12.6
P/S ratio 0.31 P/E × margin
EPS (TTM) €2.52 price ÷ EPS = P/E 12.6
Dividend yield 3.9% payout 49.2%
Net margin 2.5% FY2026
Return on equity 15.0% TTM
More key figures
Profitability
Return on assets (EBIT) 5.6% avg 4y
Operating margin 4.0% TTM
Growth
Revenue (TTM) €91.4B TTM
Revenue growth (YoY) −4.3% 3y avg +2.0%
EPS growth (YoY) +3.3%
Balance sheet & cash flow
Free cash flow €4.4B FY2026
Net debt €1.0B FY2026 · ≈ 0.2 yrs of FCF

Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 67 · Market factors (momentum, volatility) 42

Profitability 62
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 54
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Koninklijke Ahold Delhaize N.V. operates retail food stores and e-commerce in the Netherlands, the United States, and internationally.

Full company description

Koninklijke Ahold Delhaize N.V. operates retail food stores and e-commerce in the Netherlands, the United States, and internationally. The company's stores offer produce, dairy, meat, deli, bakery, seafood, and frozen products; grocery, beer, and wine; floral, pet food, health and beauty care, kitchen and cookware, gardening tools, general merchandise articles, electronics, newspapers and magazines, and tobacco; gasoline; and pharmacy products. It operates its supermarkets, convenience stores, and online stores under the Albert, Albert Heijin, Alfa Beta Vassilopoulos, bol, Delhaize, ENA, Food Lion, Gall & Gall, Giant Food, The GIANT Company, Hannaford, Maxi, Mega Image, Stop & Shop, Profi, and Super Indo brands. The company was formerly known as Koninklijke Ahold N.V. and changed its name to Koninklijke Ahold Delhaize N.V. in July 2016. The company was founded in 1867 and is headquartered in Zaandam, the Netherlands.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2023 – FY2026 · reported fiscal years

Koninklijke Ahold Delhaize N.V reported revenue of €92.4B in FY2026 versus €87.0B in FY2023, a compound +2.0%/yr. Reported net income was €2.3B in FY2026, compounding −3.8%/yr from FY2023.

Growth Quality 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
€92.4B
Latest YoY
+3.4%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+2.0%
Value creation/yr (3Y) Earnings growth per share (CAGR 3 years) plus dividend yield: value created per share and year.
+7.5% · in EUR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+3.6%
Dividend yield3.9%
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.3.6% (2023) → 3.3% (2026) · steady
Worst earnings drop26% (2025) · in EUR
Revenue +2.0%/yr
FY23 €87.0B
FY24 €88.7B
FY25 €89.4B
FY26 €92.4B
Net income −3.8%/yr
FY23 €2.5B
FY24 €1.9B
FY25 €1.8B
FY26 €2.3B

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Cite: Fair Value Calculator (2026). "Koninklijke Ahold Delhaize N.V Fair Value". https://www.fairvalue-calculator.com/stock/1AD.MI

Peer Group

Grocery Stores · 78 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 69 · Top 25%
Fair Value upside +69% · Top 25%
Return on equity (TTM) 15% · Above median
Return on assets 5% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 4% · Above median
Revenue growth −4% · Bottom 25%
Dividend yield (TTM) 3.9% · Top 25%
Debt / equity 0.32× · Higher than median

Valuation Multiples vs Grocery Stores median · lower = cheaper

P/E (TTM) 12.6× · Cheaper than 75% of peers
P/B 2.60× · Pricier than median
P/S (TTM) 0.41× · Pricier than median
P/FCF 8.4× · Pricier than median
EV/EBITDA 7.1× · Pricier than median
PEG 2.94× · Pricier than 75% of peers

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Grocery Stores stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).

Stock Price Fair Value vs Fair Value
Loblaw Companies Limited L C$60.79 C$44.44 −27%
The Kroger Co KR $57.72 $28.19 −51%
Woolworths Group WOW A$40.32 A$8.33 −79%
George Weston Limited WN C$98.50 C$147.70 +50%
Metro Inc MRU C$88.26 C$94.01 +7%
Carrefour SA CA €15.63 €11.19 −28%
CP ALL Public Company TCPD 1.81 SGD 2.35 SGD +30%
BIM Birlesik Magazalar A.S., BIMAS 418.25 TRY 267.12 TRY −36%
Kesko Oyj KESKOA €21.25 €11.62 −45%
President Chain Store Corporation 2912 216.00 TWD 183.31 TWD −15%

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Frequently asked questions

Is Koninklijke Ahold Delhaize N.V (1AD) overvalued or undervalued?
As of Sep 3, 2026, our model estimates a fair value of €35.95 versus a price of €31.64, about +14% upside (undervalued).
What is the fair value of 1AD?
Our model-based fair value for Koninklijke Ahold Delhaize N.V is €35.95 (as of Sep 3, 2026), built from audited fundamentals. The current price: €31.64.
What is the quality score of 1AD?
Koninklijke Ahold Delhaize N.V has a Quality Score of 69/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Koninklijke Ahold Delhaize N.V (1AD)?
Our model-based price target is the fair value of €35.95 (as of Sep 3, 2026) from 22 valuation models. Cautious scenario €26.96, optimistic scenario €44.94. It is a calculation from audited fundamentals, not an analyst target.
What is the Koninklijke Ahold Delhaize N.V stock forecast for 2026?
Our models put fair value at €35.95, about +14% upside versus a price of €31.64 (undervalued). Cautious scenario €26.96, optimistic scenario €44.94. The calculation is refreshed regularly with new filings.
What is the revenue of Koninklijke Ahold Delhaize N.V (1AD)?
Koninklijke Ahold Delhaize N.V reported trailing-twelve-month revenue of about €91.4B (latest available figure, as of Sep 3, 2026).
What is the net profit margin of 1AD?
The net profit margin of Koninklijke Ahold Delhaize N.V is about 2.5%, meaning it keeps roughly 2.5% of revenue as net income. Based on the latest reported figures.
Does Koninklijke Ahold Delhaize N.V pay a dividend?
Koninklijke Ahold Delhaize N.V currently shows a dividend yield of about 3.92% relative to its recent price (as of Sep 3, 2026).
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