Österreichische Post POST.VI
What does Österreichische Post do?
Österreichische Post is the leading postal service provider in Austria and operates a dense network of sorting centers, delivery bases and branches. The business is divided into the divisions Mail, Parcel & Logistics, and Retail & Bank. Mail covers the delivery of letters, advertising mail, newspapers and magazines as well as services around document processing and customer communication. Parcel & Logistics bundles parcel, express and logistics solutions that cover Germany, Southeast and Eastern Europe and Turkey in addition to Austria.
The Retail & Bank division operates post offices and postal partners and offers financial services together with a banking partner. Revenue comes from private and business customers, in particular online retail shippers, companies with high letter volumes and advertisers. In its home market, the company holds a strong position thanks to its nationwide delivery network and the statutory universal service. In the parcel business, it competes with international integrators and regional providers, with foreign markets being more fragmented and more competitive.
Score profile
Rank vs. Integrated Freight & Logistics (14 companies). 10 = top of the group, 5 = middle. Calculated from the metrics below, without AI.
Metrics compared with the industry
On profitability and quality, Österreichische Post ranks below average in the group Integrated Freight & Logistics (3.8/10). On growth, the company ranks below average in the group Integrated Freight & Logistics (2.1/10). On valuation (higher = cheaper), the stock ranks in the middle in the group Integrated Freight & Logistics (5.7/10). On financial strength, Österreichische Post ranks below average in the group Integrated Freight & Logistics (3.2/10).
| Metric | Stock | Group median | Ranking |
|---|---|---|---|
| Forward P/E | 16.2x | 15.8x | better than 46 % |
| Trailing P/E | 24.8x | 23.2x | better than 35 % |
| PEG ratio | 1.2x | 1.4x | better than 65 % |
| EV/EBITDA | 10.6x | 10.4x | better than 46 % |
| Price/sales | 0.7x | 0.8x | better than 68 % |
| Price/book | 3.8x | 3.8x | better than 50 % |
| Revenue growth | 6.7% | 7.4% | better than 39 % |
| Earnings growth | -76.1% | 6.5% | better than 4 % |
| Gross margin | 19.8% | 18.3% | better than 61 % |
| Operating margin | 4.4% | 6.1% | better than 32 % |
| Net margin | 2.8% | 4.0% | better than 25 % |
| Return on equity | 13.5% | 17.9% | better than 35 % |
| Debt/equity | 149.9% | 69.3% | better than 25 % |
| Current ratio | 0.7x | 1.3x | better than 4 % |
| Free cash flow yield | 7.4% | 6.1% | better than 68 % |
| Dividend yield | 5.7% | 2.0% | – |
| Payout ratio | 141.9% | 40.0% | – |
| Beta | 0.52 | 1.09 | – |
Valuation: what is Österreichische Post worth?
Two valuation approaches – a discounted cash flow model and a valuation at the industry’s median multiples – give Österreichische Post a model range of 30.89 EUR to 79.51 EUR per share.
4 analysts, average rating “Hold”, average price target 32.02 EUR (+0.2%).
The full DCF matrix, the reverse DCF (what growth the price implies) and scenarios are part of the Pro analysis.
What the business depends on
- Parcel volume depends largely on the growth of online retail and on its position as a delivery partner for large shippers.
- In the letter business, tariff adjustments and the decline in addressed mail due to digitalization determine earnings development.
- Efficient sorting and delivery processes as well as network utilization influence the margin in the parcel and logistics business.
Risks
- The structural decline in letter volume permanently weighs on the traditionally profitable core business.
- High price pressure and strong competition in the parcel market can squeeze margins.
- Personnel costs, collective bargaining agreements and regulatory requirements of the universal service increase cost pressure.
What to look for with Österreichische Post
The operating profit margin (EBIT margin) by division is meaningful because it shows whether growing parcel revenue profitably offsets the decline in the letter business.