DHL Group (DHL.DE): analysis in plain words
Is DHL Group cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
DHL Group (DHL.DE) is listed on the Frankfurt Stock Exchange (Xetra) and we classify it in industrials. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against DHL Group according to those figures, and the questions people ask most about the stock. No buy or sell tips.
DHL Group (DHL.DE) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | €60.26 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 18.5x | Price over earnings per share |
| Revenue growth | +12.8% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 4.3% | Profit for every 100 of sales |
| Net debt / EBITDA | 2.8x | Years of operating profit to repay debt |
| Dividend yield | 3.21% | Annual dividend over price |
| Market cap | €66.9 billion | What the stock market values it at |
The DHL Group figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any DHL.DE figure that is not available shows as N/A: we do not estimate it.
How DHL Group makes money
DHL Group earns money moving parcels and freight. It reports the divisions Express, its largest, for time-definite international shipping; Global Forwarding and Freight, moving cargo by air, sea and road; Supply Chain, contract warehousing for businesses; eCommerce, parcel delivery for online retailers; and Post & Parcel Germany, the German mail service.
Over the last 12 months, DHL Group brought in revenue of €85.6 billion. For every 100 it sells, DHL Group keeps 17.8 after the direct cost of what it sells (gross margin) and 8.3 after all operating costs (operating margin). With 576,627 full-time employees, that is about €148,000 of revenue per employee.
DHL Group against its sector
To know whether a DHL Group figure is high or low you have to put it next to similar companies. This table compares DHL Group with the median of the 20 industrials companies Fintols covers, with data as of November 4, 2026.
| Figure | DHL Group | industrials median |
|---|---|---|
| P/E | 18.5x | 27.3x (20) |
| Revenue growth | +12.8% | +9.8% (20) |
| Net margin | 4.3% | 13.0% (20) |
| Dividend yield | 3.21% | 1.60% (20) |
| Net debt / EBITDA | 2.8x | 2.1x (20) |
In short, against the typical industrials company, DHL Group trades on a lower P/E, grows faster and earns a thinner margin. By size, DHL Group ranks number 4 of 5 industrials companies quoted in EUR on Fintols.
The bull case for DHL Group
These are the strengths in the DHL Group figures as of November 4, 2026:
- DHL Group generates real cash: €5.4 billion of free cash flow over 12 months, 8.1% of its stock market value.
- On a P/E basis DHL Group trades cheaper than its sector: 18.5x its annual earnings, against 27.3x for the industrials median (20 companies with data).
- Analysts expect DHL Group earnings to rise: its P/E on the next 12 months of estimated earnings is 15.3x, below the current 18.5x.
The main risk for DHL Group
DHL Group runs on a thin net margin (4.3%, against a industrials median of 13.0%): a rise in costs can easily wipe out profit.
And, like the rest of industrials, DHL Group is exposed to the economic cycle: when industry and trade slow, its orders fall.
Frequently asked questions about DHL Group
Is it a good time to buy DHL Group stock?
Fintols does not tell you whether to buy or sell DHL Group, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, DHL Group stock trades at €60.26, 1% below its 52-week high (€60.86) and 55% above its low (€38.91). Its P/E is 18.5x against a industrials median of 27.3x, and 15.3x on the earnings analysts expect over the next 12 months. With DHL Group, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does DHL Group pay a dividend?
Yes. As of November 4, 2026, DHL Group pays €1.90 per share a year, which at today's price is a yield of 3.21%. It uses 58% of its profit to pay it, which leaves room to keep paying it if profit dips. The industrials median on Fintols is 1.60%.
Is DHL Group stock expensive?
It depends on what you compare it with. On P/E, DHL Group trades at 18.5x its last 12 months of earnings: cheaper than the industrials median (27.3x). Including its debt, DHL Group is valued at 10.7x its EBITDA (EV/EBITDA). A high P/E alone does not make DHL Group expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are DHL Group's competitors?
On Fintols we compare DHL Group with Fluidra, Schneider Electric and Siemens Energy, which are also in industrials. As of November 4, 2026, Fluidra is worth €3.7 billion and trades on a P/E of 22.6; Schneider Electric is worth €136.1 billion and trades on a P/E of 27.8; Siemens Energy is worth €101.6 billion and trades on a P/E of 38.5. Each has a side-by-side comparison with DHL Group below.
DHL Group competitors
- Fluidra (FDR) analysis · DHL Group vs Fluidra comparison
- Schneider Electric (SU.PA) analysis · DHL Group vs Schneider Electric comparison
- Siemens Energy (ENR.DE) analysis · DHL Group vs Siemens Energy comparison
To understand DHL Group better
- DCF and WACC Explained: A Practical Valuation Guide
- Dividend Growth Investing: FCF Payout Ratio and Compounding
More companies like DHL Group: industrials stocks and Euro Stoxx 50 companies. Open the full DHL.DE analysis with its valuation and scenarios. Educational content about DHL Group, not investment advice.