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Koninklijke Ahold Delhaize
(OTC:ADRNY)
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Rating:70Outperform
Price Target:
$42.00
▲(9.78% Upside)
Action:Upgraded
Date:08/10/26
ADRNY scores well on financial quality and shareholder-return support (strong free cash flow generation, steady growth, and an attractive P/E with a ~3.75% dividend yield). The score is held back by weak technicals (below key moving averages with negative MACD) and ongoing operating headwinds highlighted on the call (U.S. margin pressure and macro/program impacts), despite reiterated full-year guidance.
Positive Factors
Cash generation
Sustained high operating and free cash flow provides durable financial flexibility: it funds dividends, buybacks, capex and debt repayment without relying on capital markets. Strong cash conversion reduces execution risk and supports multi-year strategic investments and margin programs.
Negative Factors
Thin profitability
Net margins are structurally thin for grocery retail, leaving limited buffer against cost inflation or pricing pressure. Persistent margin compression versus historical peaks means even small input-cost or pricing shocks can meaningfully erode profitability and free cash flow over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained high operating and free cash flow provides durable financial flexibility: it funds dividends, buybacks, capex and debt repayment without relying on capital markets. Strong cash conversion reduces execution risk and supports multi-year strategic investments and margin programs.
Read all positive factors
Koninklijke Ahold Delhaize (ADRNY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$32.83B
Dividend Yield3.84%
Average Volume (3M)25.98K
Price to Earnings (P/E)12.8
Beta (1Y)0.02
Revenue Growth6.97%
EPS Growth33.25%
CountryUS
Employees390,000
SectorConsumer Defensive
Sector Strength42
IndustryGrocery Stores
Share Statistics
EPS (TTM)2.64
Shares Outstanding874,299,700
10 Day Avg. Volume64,375
30 Day Avg. Volume25,984
Financial Highlights & Ratios
PEG Ratio0.52
Price to Book (P/B)2.21
Price to Sales (P/S)0.34
P/FCF Ratio7.54
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)3.18
Revenue Forecast (FY)$108.44B
Koninklijke Ahold Delhaize Business Overview & Revenue Model
Company Description
Koninklijke Ahold Delhaize N.V. is a prominent retail and e-commerce enterprise, primarily conducting its operations across the United States and Europe. The company's diverse physical footprint encompasses various retail formats, such as supermar...
How the Company Makes Money
Ahold Delhaize primarily makes money by selling food and everyday consumer products through its grocery retail networks in the United States and Europe. The core revenue stream is retail sales generated in physical stores and through online grocer...
Koninklijke Ahold Delhaize Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call presents a generally positive operational and strategic picture: the company delivered modest top-line growth (net sales +1.9%), advanced own-brand penetration above 40%, achieved double-digit online growth and reported online profitability while gaining market share and reiterating full-year guidance. Offsetting these positives are margin compression in the U.S., one-off IFRS charges, a year-to-date free cash flow shortfall due to timing effects, and macro pressures (energy, SNAP/pharmacy impacts, competitive pricing and local pricing decrees). On balance the highlights (market share gains, online growth and strategic progress on own brands, AI and disciplined capital allocation) outweigh the lowlights, but management remains watchful about cost and macro dynamics.Positive Updates
Net Sales Growth
Net sales grew 1.9% year-over-year to EUR 23.2 billion in Q2 2026 (constant exchange rates).
Negative Updates
Slight Margin Compression
Group underlying operating margin decreased 10 basis points to 3.9% in Q2; U.S. underlying operating margin was 4.2%, down 20 basis points, with pressure from price investments, higher utility costs and indirect cost absorption.
Read all updates
Q2-2026 Updates
Positive
Negative
Net Sales Growth
Net sales grew 1.9% year-over-year to EUR 23.2 billion in Q2 2026 (constant exchange rates).
Read all positive updates
Company Guidance
Management reiterated full‑year 2026 guidance (on a 53‑week basis): underlying operating margin of around 4%, free cash flow of at least EUR 2.3 billion, gross capital expenditures of about EUR 2.7 billion, and diluted underlying EPS growth at mid‑ to high‑single‑digit rates on a constant currency basis. They confirmed execution of strategic actions including a EUR 1 billion price/own‑brand investment program (≈EUR 250m p.a. as part of a four‑year plan) and a trajectory to deliver roughly EUR 1.25 billion of cost savings this year, with flexibility to deepen price investments if needed. Management also guided that pharmacy headwinds in H2 should be similar to Q2, ag‑price deflational impact should be lower as they cycle last year, and the SNAP eligibility changes are expected to be a ~60–80 basis‑point headwind for the full year; for context Q2 reported net sales were EUR 23.2 billion, Q2 free cash flow EUR 632 million (YTD free cash flow EUR 302 million) and Q2 underlying operating margin was 3.9%.Koninklijke Ahold Delhaize Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
64
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 91.42B | 92.35B | 89.36B | 88.73B | 86.98B | 75.60B |
| Gross Profit | 24.32B | 24.51B | 23.80B | 23.85B | 23.30B | 20.68B |
| EBITDA | 7.53B | 6.59B | 6.48B | 6.50B | 7.27B | 6.34B |
| Net Income | 2.34B | 2.26B | 1.76B | 1.87B | 2.55B | 2.25B |
Balance Sheet | ||||||
| Total Assets | 49.66B | 49.09B | 51.84B | 47.82B | 48.55B | 45.71B |
| Cash, Cash Equivalents and Short-Term Investments | 3.55B | 3.93B | 6.17B | 3.48B | 3.21B | 3.13B |
| Total Debt | 15.63B | 18.40B | 20.34B | 17.79B | 17.67B | 17.09B |
| Total Liabilities | 35.21B | 34.89B | 36.39B | 33.07B | 33.15B | 31.99B |
| Stockholders Equity | 14.45B | 14.20B | 15.45B | 14.76B | 15.40B | 13.72B |
Cash Flow | ||||||
| Free Cash Flow | 5.58B | 4.15B | 3.92B | 3.99B | 3.62B | 3.10B |
| Operating Cash Flow | 6.88B | 6.99B | 6.22B | 6.47B | 6.11B | 5.47B |
| Investing Cash Flow | -2.43B | -3.58B | -1.73B | -2.21B | -2.01B | -2.63B |
| Financing Cash Flow | -5.39B | -5.68B | -1.98B | -3.78B | -4.19B | -3.05B |
Koninklijke Ahold Delhaize Technical Analysis
Negative
38.26
Price Trends
40.15
Negative
42.86
Negative
42.42
Negative
Market Momentum
-0.87
Positive
36.23
Neutral
15.42
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ADRNY, the sentiment is Negative. The current price of 38.26 is below the 20-day moving average (MA) of 39.05, below the 50-day MA of 40.15, and below the 200-day MA of 42.42, indicating a bearish trend. The MACD of -0.87 indicates Positive momentum. The RSI at 36.23 is Neutral, neither overbought nor oversold. The STOCH value of 15.42 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ADRNY.
Koninklijke Ahold Delhaize Risk Analysis
Koninklijke Ahold Delhaize disclosed 49 risk factors in its most recent earnings report. Koninklijke Ahold Delhaize reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Koninklijke Ahold Delhaize Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $7.71B | 15.68 | 34.84% | ― | 7.20% | 7.23% | |
70 Outperform | $32.83B | 12.81 | 15.60% | 3.77% | 6.97% | 33.25% | |
65 Neutral | $1.77B | 18.19 | 7.49% | 1.85% | 4.50% | -3.08% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
53 Neutral | $35.06B | 32.77 | 14.66% | 2.46% | 1.14% | -53.47% | |
49 Neutral | $1.07B | -2.87 | -40.07% | ― | 5.12% | -4889.01% | |
49 Neutral | $6.02B | 155.25 | 2.91% | 5.80% | 2.75% | -95.14% |
* Consumer Defensive Sector Average
ADRNY
Koninklijke Ahold Delhaize
37.52
-2.27
-5.70%
KR
Kroger Company
56.69
-11.45
-16.81%
WMK
Weis Markets
70.93
2.10
3.05%
SFM
Sprouts Farmers
82.50
-63.14
-43.35%
GO
Grocery Outlet Holding
11.13
-7.20
-39.28%
ACI
Albertsons Companies
12.42
-5.99
-32.52%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.