Valuation Lufthansa

Equities

Market Closed - Xetra Other stock markets 11:35:29 2025-06-20 am EDT			5-day change	1st Jan Change
6.848 ^EUR	+2.12%		-0.49%	+10.88%

Jun. 20	Turkish Airlines Reportedly Explores Air Europa Stake as Bid Deadline Looms	CI
Jun. 20	Exclusive-Turkish Airlines explores Air Europa stake as bid deadline looms	RE

Data adjusted to current consolidation scope

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	6,465	7,388	9,283	9,621	7,401	8,206	-	-
Change	-	14.29%	25.65%	3.64%	-23.08%	10.88%	-	-
Enterprise Value (EV) ¹	16,387	16,411	16,154	15,303	13,145	13,815	13,408	12,997
Change	-	0.15%	-1.57%	-5.27%	-14.11%	5.1%	-2.94%	-3.07%
P/E ratio	-0.86x	-2.07x	11.8x	5.75x	5.37x	6.83x	5.28x	4.43x
PBR	4.8x	1.66x	1.1x	1x	0.64x	0.67x	0.61x	0.55x
PEG	-	0x	-0x	0x	-0.3x	-0.5x	0.2x	0.2x
Capitalization / Revenue	0.48x	0.44x	0.28x	0.27x	0.2x	0.21x	0.2x	0.19x
EV / Revenue	1.21x	0.98x	0.49x	0.43x	0.35x	0.35x	0.32x	0.3x
EV / EBITDA	-6.46x	497x	4.27x	3.12x	3.3x	3.17x	2.72x	2.44x
EV / EBIT	-3.01x	-6.99x	10.7x	5.71x	7.99x	7.18x	5.73x	4.93x
EV / FCF	-4.47x	-19.2x	5.61x	7.17x	15.6x	10.8x	10.4x	8.66x
FCF Yield	-22.4%	-5.21%	17.8%	13.9%	6.39%	9.28%	9.65%	11.5%
Dividend per Share ²	-	-	-	0.3	0.3	0.2776	0.3269	0.3855
Rate of return	-	-	-	3.73%	4.86%	4.05%	4.77%	5.63%
EPS ²	-12.51	-2.99	0.66	1.4	1.15	1.003	1.298	1.546
Distribution rate	-	-	-	21.4%	26.1%	27.7%	25.2%	24.9%
Net sales ¹	13,589	16,811	32,770	35,442	37,581	39,828	41,484	43,435
EBITDA ¹	-2,537	33	3,786	4,910	3,982	4,358	4,931	5,333
EBIT ¹	-5,451	-2,349	1,509	2,682	1,645	1,923	2,341	2,634
Net income ¹	-6,725	-2,191	791	1,673	1,380	1,199	1,620	1,907
Net Debt ¹	9,922	9,023	6,871	5,682	5,744	5,609	5,203	4,791
Reference price ²	10.815	6.180	7.765	8.048	6.176	6.848	6.848	6.848
Nbr of stocks (in thousands)	597,743	1,195,486	1,195,486	1,195,486	1,198,299	1,198,293	-	-
Announcement Date	3/4/21	3/3/22	3/3/23	3/7/24	3/6/25	-	-	-

¹EUR in Million²EUR

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
LUFTHANSA	6.83x	0.35x	3.17x	4.05%	9.46B
DELTA AIR LINES, INC.	8.56x	0.77x	5.76x	1.24%	30.82B
RYANAIR HOLDINGS PLC	11.94x	1.5x	6.5x	1.92%	28.29B
UNITED AIRLINES HOLDINGS, INC.	7.23x	0.75x	5.46x	-.--%	24.26B
INTERGLOBE AVIATION LIMITED	29.69x	2.88x	12.95x	0.24%	24.05B
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A.	5.79x	0.72x	3.36x	2.98%	19.72B
AIR CHINA LIMITED	25.16x	1.79x	8.49x	0.01%	16.79B
SINGAPORE AIRLINES LIMITED	15.42x	1.31x	6.3x	3.88%	15.68B
CHINA SOUTHERN AIRLINES COMPANY LIMITED	19.77x	1.67x	7.7x	0.13%	13.02B
LATAM AIRLINES GROUP S.A.	8.59x	1.15x	4.39x	-.--%	11.56B
Average	13.90x	1.29x	6.41x	1.45%	19.36B
Weighted average by Cap.	13.90x	1.33x	6.68x	1.33%