Valuation Lufthansa

Equities

Market Closed - Xetra Other stock markets 01:13:40 13/12/2025 am IST			5-day change	1st Jan Change
8.468 ^EUR	+4.88%		+3.17%	+37.11%

12/12	Kepler Cheuvreux Upgrades Lufthansa to Buy Rating, Boosts PT	MT
12/12	Less New York, more Nashville: Europeans head to small US cities	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	10,145	-	-
Change	-	14.29%	25.65%	3.64%	-23.08%	37.08%	-	-
Enterprise Value (EV) ¹	16,387	16,411	16,154	15,303	13,145	15,874	15,939	15,730
Change	-	0.15%	-1.57%	-5.27%	-14.11%	20.77%	0.41%	-1.31%
P/E ratio	-0.86x	-2.07x	11.8x	5.75x	5.37x	7.39x	6.7x	5.73x
PBR	4.8x	1.66x	1.1x	1x	0.64x	0.84x	0.77x	0.69x
PEG	-	0x	-0x	0x	-0.3x	-18.32x	0.6x	0.3x
Capitalization / Revenue	0.48x	0.44x	0.28x	0.27x	0.2x	0.26x	0.24x	0.23x
EV / Revenue	1.21x	0.98x	0.49x	0.43x	0.35x	0.4x	0.38x	0.36x
EV / EBITDA	-6.46x	497x	4.27x	3.12x	3.3x	3.7x	3.38x	3.09x
EV / EBIT	-3.01x	-6.99x	10.7x	5.71x	7.99x	8.31x	7.2x	6.2x
EV / FCF	-4.47x	-19.2x	5.61x	7.17x	15.6x	11.1x	9.69x	8.81x
FCF Yield	-22.4%	-5.21%	17.8%	13.9%	6.39%	8.98%	10.3%	11.3%
Dividend per Share ²	-	-	-	0.3	0.3	0.3176	0.3477	0.4078
Rate of return	-	-	-	3.73%	4.86%	3.75%	4.11%	4.82%
EPS ²	-12.51	-2.99	0.66	1.4	1.15	1.145	1.264	1.478
Distribution rate	-	-	-	21.4%	26.1%	27.7%	27.5%	27.6%
Net sales ¹	13,589	16,811	32,770	35,442	37,581	39,524	41,427	43,378
EBITDA ¹	-2,537	33	3,786	4,910	3,982	4,295	4,709	5,093
EBIT ¹	-5,451	-2,349	1,509	2,682	1,645	1,911	2,214	2,538
Net income ¹	-6,725	-2,191	791	1,673	1,380	1,362	1,522	1,764
Net Debt ¹	9,922	9,023	6,871	5,682	5,744	5,730	5,794	5,585
Reference price ²	10.815	6.180	7.765	8.048	6.176	8.466	8.466	8.466
Nbr of stocks (in thousands)	5,97,743	11,95,486	11,95,486	11,95,486	11,98,299	11,98,293	-	-
Announcement Date	04/03/21	03/03/22	03/03/23	07/03/24	06/03/25	-	-	-

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	7.39x	0.4x	3.7x	3.75%	1.19TCr
DELTA AIR LINES, INC.	9.51x	0.98x	7.05x	0.98%	4.53TCr
RYANAIR HOLDINGS PLC	14.27x	1.9x	7.81x	1.57%	3.66TCr
UNITED AIRLINES HOLDINGS, INC.	10.67x	0.91x	6.62x	-.--%	3.46TCr
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A.	6.79x	0.86x	3.81x	2.42%	2.55TCr
INTERGLOBE AVIATION LIMITED	30.12x	2.43x	10.96x	0.21%	2.07TCr
AIR CHINA LIMITED	143.23x	1.85x	9.64x	-.--%	1.88TCr
CHINA SOUTHERN AIRLINES COMPANY LIMITED	135.53x	1.91x	8.37x	0.09%	1.63TCr
LATAM AIRLINES GROUP S.A.	11.17x	1.49x	5.29x	4.63%	1.59TCr
SINGAPORE AIRLINES LIMITED	20.73x	1.32x	6.36x	3.29%	1.54TCr
Average	38.94x	1.41x	6.96x	1.69%	2.41TCr
Weighted average by Cap.	31.58x	1.38x	7.06x	1.4%