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Deutsche Post AG

DPW.DE
36
Integrated Freight & Logistics · Industrials
Price
€44.73
+0.54 (+1.21%)
Market Cap
€53.62B
Exchange
Frankfurt Stock Exchange (XETRA)
Winston Score
36
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2024
How the score breaks down
Quality
Weak
Growth
Weak
Cash Flow
Strong
Stability
Mixed
Valuation
Mixed
Dividends
Strong

Share count falling — buybacks

3.6% over 4y

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

Diluted shares outstanding: 1.26B (2019) → 1.21B (2023)

Winston Score History

The full picture

Deutsche Post AG is one of the world's largest logistics and mail companies, headquartered in Germany. It delivers letters and packages to homes and businesses, and moves freight — goods shipped by air, sea, and road — for companies around the world. Its best-known brand is DHL, which handles international shipping and express delivery for everyone from online shoppers to large corporations.

The company earns money by charging fees for each shipment, delivery, or logistics service it provides. It operates in more than 220 countries and territories, making its global network one of the hardest things for competitors to replicate. Revenue is split across several divisions, including express parcel delivery, freight forwarding, and supply chain management. The main growth driver is the continued rise of e-commerce, which increases demand for parcel delivery. The key risk is that a slowdown in global trade — caused by economic weakness or geopolitical disruptions — can quickly reduce shipping volumes and pressure margins.

Score breakdown

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Quality

Profit per sale
Gross Margin
10.0%
Thin — 10.0% gross margin
Profit after running costs
Operating Margin
6.6%
Modest — 6.6% operating margin
Return on the money invested
ROCE
3.9%
Weak — 3.9% 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 growth
Sales YoY
-8.1%
Shrinking sales (-8.1% YoY)
Profit growth
EPS YoY
-24.9%
Earnings shrinking (-24.9% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
1/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
245%
Turns 245% of profit into real cash
Spare cash per sale
FCF Margin
6.1%
Modest free cash flow (6.1%)

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

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Stability

What it owes vs what it owns
Debt / Equity
1.09
Elevated debt (1.09)
Covers its interest
Interest Cover
1.56x
Dangerous — barely covers interest (1.6x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit
P/E Ratio (TTM)
16.1x
Fair value — P/E 16.1

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
3.42%
Moderate income — 3.42% yield

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

Dividend record
Dividend Growth
+33.7%
Dividend growing fast (33.7% YoY)

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