Editor's Note: This analysis was originally published as a stock note by Morningstar Equity Research.
Key Morningstar Metrics for Deliveroo
- Fair Value Estimate: GBX 180
- Morningstar Rating: ★★★
- Morningstar Economic Moat Rating: None
- Morningstar Uncertainty Rating: Very High
The boards of directors at no-moat Deliveroo ROO and narrow-moat DoorDash DASH announced that they had reached an agreement on the final acquisition offer for Deliveroo. Under the offer, DoorDash is set to acquire Deliveroo’s shares for a total value of £2.9 billion, or GBX 180 per share.
Why it matters: We see consolidation ramping up in the food delivery sector, with Dutch technology firm Prosus set to acquire Just Eat Takeaway by year-end.
- DoorDash is the leading food delivery platform in North America, holding approximately 60% market share.
- The deal complements DoorDash’s international footprint, which the firm expanded through its acquisition of Finland-based company Wolt in 2022.
The bottom line: We believe the deal is likely to be executed, and with this, we raise our fair value estimate for Deliveroo to GBX 180 per share from GBX 175 per share.
- The offer represents a 29% premium to Deliveroo’s closing price on April 24, 2025, which was the final business day before the commencement of the offer period.
The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar's editorial policies.