Delivery Hero - Public Comps and Valuation Multiples

Delivery Hero Overview

About Delivery Hero

Delivery Hero is an online food delivery provider and active delivery service headquartered in Germany. It operates in over 70 countries across five continents. Commission rate per order, the company’s largest source of revenue, varies across the countries in its four geographic segments--the Americas, Asia, Europe, and the Middle East and North Africa--as well as the type of restaurant and the provided service.

Founded

2011

HQ

Employees

42.9K+

Website

deliveryhero.com

Sectors

Food Delivery
Consumer Marketplaces
Vertical Marketplaces
FoodTech

Financials

LTM Revenue $16.4B

LTM EBITDA $1.0B

EV

$11.3B

Valuation Multiples

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Delivery Hero Financials

As of August 2025, Delivery Hero reported last 12-month revenue of $16.4B and EBITDA of $1.0B.

In the same period, Delivery Hero generated $4.2B in LTM gross profit and -$527M in net income.

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Delivery Hero P&L

In the most recent fiscal year, Delivery Hero reported revenue of $14.4B and EBITDA of $281M.

Delivery Hero expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$16.4B	XXX	$14.4B	XXX	XXX	XXX
Gross Profit	$4.2B	XXX	$3.9B	XXX	XXX	XXX
Gross Margin	26%	XXX	27%	XXX	XXX	XXX
EBITDA	$1.0B	XXX	$281M	XXX	XXX	XXX
EBITDA Margin	6%	XXX	2%	XXX	XXX	XXX
EBIT	$141M	XXX	$517M	XXX	XXX	XXX
EBIT Margin	1%	XXX	4%	XXX	XXX	XXX
Net Profit	-$527M	XXX	-$1.0B	XXX	XXX	XXX
Net Margin	-3%	XXX	-7%	XXX	XXX	XXX
Net Debt	XXX	XXX	$1.7B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Delivery Hero including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $16.4B. EBITDA for the last twelve months was $1.0B. In the most recent fiscal year, Delivery Hero achieved $14.4B in revenue and $281M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$16.4B	Analyst estimates available to subscribers	$14.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$4.2B	Analyst estimates available to subscribers	$3.9B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	25.7% gross margin	Analyst estimates available to subscribers	27.1% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$1.0B	Analyst estimates available to subscribers	$281M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	6.2% EBITDA margin	Analyst estimates available to subscribers	2.0% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$141M	Analyst estimates available to subscribers	$517M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	0.9% EBIT margin	Analyst estimates available to subscribers	3.6% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$527M	Analyst estimates available to subscribers	-$1.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-3.2% net profit margin	Analyst estimates available to subscribers	-7.2% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$1.7B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Delivery Hero

This financial data table provides comprehensive performance metrics for Delivery Hero, a company based in Germany. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Delivery Hero generated $16.4B in revenue over the last twelve months.
The company achieved $1.0B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $4.2B.
Net income over the last twelve months reached -$527M.

Fiscal Year Performance

In the most recent fiscal year, Delivery Hero reported $14.4B in total revenue.
Fiscal year EBITDA was $281M.
The company maintained a gross profit margin of 27.1% in the most recent fiscal year.
EBITDA margin for the fiscal year was 2.0%.
Net profit margin reached -7.2% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Delivery Hero. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Delivery Hero Stock Performance

Delivery Hero has current market cap of EUR 7.8B (or $9.2B), and EV of EUR 9.7B (or $11.3B).

Market Cap Evolution

Delivery Hero Stock Data

As of September 18, 2025, Delivery Hero's stock price is EUR 26 (or $31).

See Delivery Hero trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$11.3B	$9.2B	XXX	XXX	XXX	XXX	$-1.12

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Delivery Hero Valuation Multiples

Delivery Hero's trades at 0.8x EV/Revenue multiple, and 40.2x EV/EBITDA.

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Delivery Hero Financial Valuation Multiples

As of September 18, 2025, Delivery Hero has market cap of $9.2B and EV of $11.3B.

Equity research analysts estimate Delivery Hero's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Delivery Hero has a P/E ratio of -17.4x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$9.2B	XXX	$9.2B	XXX	XXX	XXX
EV (current)	$11.3B	XXX	$11.3B	XXX	XXX	XXX
EV/Revenue	0.7x	XXX	0.8x	XXX	XXX	XXX
EV/EBITDA	11.2x	XXX	40.2x	XXX	XXX	XXX
EV/EBIT	80.2x	XXX	21.9x	XXX	XXX	XXX
EV/Gross Profit	2.7x	XXX	n/a	XXX	XXX	XXX
P/E	-17.4x	XXX	-8.9x	XXX	XXX	XXX
EV/FCF	-461.1x	XXX	26.9x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Delivery Hero Margins & Growth Rates

Delivery Hero's last 12 month revenue growth is 11%

Delivery Hero's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.1M for the same period.

Delivery Hero's rule of 40 is -2% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Delivery Hero's rule of X is 33% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Delivery Hero Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	11%	XXX	14%	XXX	XXX	XXX
EBITDA Margin	6%	XXX	2%	XXX	XXX	XXX
EBITDA Growth	39%	XXX	n/a	XXX	XXX	XXX
Rule of 40	-2%	XXX	13%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	33%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	6%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	23%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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