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Deutsche Post AG logo

Deutsche Post AG

DHLGY
49
Integrated Freight & Logistics · Industrials
Price
$32.48
+0.09 (+0.26%)
Market Cap
$73.66B
Exchange
Other OTC
Winston Score
49
Winston is serious
Mixed quality — meaningful strengths and weaknesses.

Share count falling — buybacks

8.9% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 2.52B (2021) → 2.30B (2025)

Deutsche Post AG is one of the world's largest logistics and mail companies, based in Germany. It delivers packages, freight, and letters to businesses and consumers across the globe through its well-known DHL brand. The company serves e-commerce retailers, manufacturers, governments, and everyday customers who need to ship goods locally or internationally.

The company makes money by charging fees for parcel delivery, express shipping, freight forwarding, and supply chain management services. It operates in more than 220 countries and territories, making DHL one of the most geographically widespread logistics networks on earth. Its scale and global infrastructure are difficult for competitors to replicate, giving it a durable competitive position. However, the business is sensitive to global trade volumes and economic slowdowns, which can quickly reduce shipping demand — and a prolonged softening in e-commerce growth or international trade remains the key risk to watch.

Winston Score History

Score breakdown

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Quality

Gross Margin
11.0%
Thin — 11.0% gross margin
Operating Margin
7.2%
Modest — 7.2% operating margin
ROCE
2.9%
Weak — 2.9% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY
-3.3%
Shrinking sales (-3.3% YoY)
EPS YoY
+8.3%
Earnings growing (8.3% YoY)

Single-digit earnings growth — steady but not exciting.

EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion
255%
Turns 255% of profit into real cash
FCF Margin
7.5%
Modest free cash flow (7.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity
1.24
Elevated debt (1.24)
Interest Cover
4.64x
Adequate interest coverage (4.6x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)
20.7x
Growth-priced — P/E 20.7

P/E above the market average. People are paying up for expected growth.

P/E vs Forward
+5.7
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (20.7 → 14.9)

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Dividends

Dividend Yield
3.44%
Moderate income — 3.44% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth
+16.7%
Dividend growing fast (16.7% YoY)

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