Market multiples
The market multiples, however, aren't as positive. Deliveroo’s forward price-to-sales (P/S) at 1.05x, is higher than that for peers like Just Eat Takeaway (OTC:TKAYF) at 0.46x and Delivery Hero (OTCPK:DLVHF) at 0.62x. Even taking Just Eat Takeaway’s weak growth numbers into account, it’s hard to justify Deliveroo’s P/S against Delivery Hero.
I also estimated the forward price-to-adjusted EBITDA (P/AE) ratio for all three based on their 2023 estimates. Deliveroo is much higher priced than its peers at 30.7x, compared to TKAYF at 7.9x and Delivery Hero at 2.7x.
The company’s EV-to-sales at 0.63x, however, compares favourably to DLVHF, which is at 0.98x and not too different from TKAYF at 0.56x. But it could also be a sign of being under-leveraged.
Komt uit een stuk waar ze Deliveroo bekijken.
Ik zou weten welke van de 3 ik zou kiezen.
Voor de mensen die geen verstand hebben van cijfers, sorry, deze post is minder waardevol dan het schreeuwen van willekeurige getallen...