Delivery Hero SE (DHER) Fair Value & Analysis
Consumer Cyclical · DE · Market cap €11.6B
Fair value as of: Jul 16, 2026
From 5 valuation models · updated 23 days ago
Share price +1.5% over the past month.
Below-average quality, and screening another 66% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (€17.95). The favourable scenario is already priced in.
- Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts.
- A fairly wide model range (€7.46 to €17.95) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.
How to read this chart
60‑month range €15.28 – €132.10 · fair‑value band €7.46 – €17.95 · the €36.96 price screens above the €12.71 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.
Analysis
Delivery Hero SE (DHER) currently trades at €36.96, while our model-based Fair Value estimate is €12.71, implying the stock looks roughly 65.6% overvalued today. We read business quality at 42/100 (below-average quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, Delivery Hero SE generated revenue of €14.1B at a net margin of -5.6%. Revenue grew 10.1% year over year. It earns a return on equity of -31.0%. Net debt stands at €2.5B. Fundamentals as of Jul 16, 2026
Our scenario range runs from €7.46 (bear case) to €17.95 (bull case); at €36.96, the current price sits above 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 6% below its 52-week high and 150% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -49% fair-value upside, at -66%, DHER screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 5 models by family
Widest divergence: Multiples (€16.42) versus Dividend Discount (€2.86). Highest evidence: Gordon GGM (70).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 34 · Market factors (momentum, volatility) 64
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.
About the company
Delivery Hero SE provides online food ordering, quick commerce, and delivery services. The company also offers advertising services. It operates in approximately 70 countries across Asia, the Middle East, Africa, Europe, and Latin America. Delivery Hero SE was founded in 2011 and is headquartered in Berlin, Germany.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Delivery Hero SE reported revenue of €14.1B in FY2025 versus €5.9B in FY2021, a compound +24.5%/yr. Reported net income was −€783M in FY2025.
DHER screens 66% overvalued. Compare with Amazon.com, Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Is Uber Technologies (UBER) Undervalued Following Its Delivery Hero Deal?
- Dara Khosrowshahi Says $14.8 Billion Delivery Hero Deal Will Double Uber's Mobility, Delivery Markets
- Delivery Hero (XTRA:DHER) Mulls Business Combination, Is It 15% Overvalued?
- Uber Technologies' Delivery Hero Deal Could Boost Growth, Profit, UBS Says
Peer Group
Internet Retail · 108 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.
Valuation Multiples vs Internet Retail median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Internet Retail stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Amazon.com, Inc AMZN | $245.34 | $127.67 | -48% |
| Alibaba Group BABA | $114.97 | $75.75 | -34% |
| PDD Holdings PDD | $84.14 | $223.51 | +166% |
| MercadoLibre, Inc MELI | $1,814 | $798.98 | -56% |
| DoorDash, Inc DASH | $190.16 | $38.64 | -80% |
| Sea Limited SE | $106.22 | $52.70 | -50% |
| eBay Inc EBAY | $117.20 | $60.13 | -49% |
| JD.com, Inc JD | €25.95 | €31.88 | +23% |
| Coupang, Inc CPNG | $16.86 | $2.79 | -83% |
| Wayfair Inc W | $89.31 | $11.46 | -87% |
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Price, fair value, quality and upside side by side.
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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