Financials Lufthansa

Equities

LHA

DE0008232125

Airlines

Market Closed - Xetra 11:37:27 2024-04-26 am EDT 5-day change 1st Jan Change
6.696 EUR +0.69% Intraday chart for Lufthansa -0.30% -16.80%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 7,847 6,465 7,388 9,283 9,621 8,013 - -
Enterprise Value (EV) 1 14,509 16,387 16,411 16,154 15,303 12,939 12,063 12,150
P/E ratio 6.44 x -0.86 x -2.07 x 11.8 x 5.75 x 5.1 x 4.35 x 4.12 x
Yield - - - - 3.73% 4.38% 5.2% 6.42%
Capitalization / Revenue 0.22 x 0.48 x 0.44 x 0.28 x 0.27 x 0.21 x 0.2 x 0.19 x
EV / Revenue 0.4 x 1.21 x 0.98 x 0.49 x 0.43 x 0.34 x 0.3 x 0.29 x
EV / EBITDA 3.02 x -6.46 x 497 x 4.27 x 3.12 x 2.8 x 2.36 x 2.27 x
EV / FCF 24.9 x -4.47 x -19.2 x 5.61 x 7.17 x 8.84 x 6.96 x 7.19 x
FCF Yield 4.01% -22.4% -5.21% 17.8% 13.9% 11.3% 14.4% 13.9%
Price to Book 0.77 x 4.8 x 1.66 x 1.1 x 1 x 0.75 x 0.66 x 0.6 x
Nbr of stocks (in thousands) 478,194 597,743 1,195,486 1,195,486 1,195,486 1,196,618 - -
Reference price 2 16.41 10.82 6.180 7.765 8.048 6.696 6.696 6.696
Announcement Date 3/19/20 3/4/21 3/3/22 3/3/23 3/7/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 36,424 13,589 16,811 32,770 35,442 38,141 40,494 42,401
EBITDA 1 4,802 -2,537 33 3,786 4,910 4,624 5,114 5,346
EBIT 1 2,026 -5,451 -2,349 1,509 2,682 2,316 2,739 2,914
Operating Margin 5.56% -40.11% -13.97% 4.6% 7.57% 6.07% 6.76% 6.87%
Earnings before Tax (EBT) 1 1,860 -8,631 -2,606 1,050 2,317 1,948 2,385 2,584
Net income 1 1,213 -6,725 -2,191 791 1,673 1,530 1,826 1,956
Net margin 3.33% -49.49% -13.03% 2.41% 4.72% 4.01% 4.51% 4.61%
EPS 2 2.550 -12.51 -2.990 0.6600 1.400 1.312 1.539 1.624
Free Cash Flow 1 582 -3,669 -855 2,882 2,134 1,464 1,733 1,691
FCF margin 1.6% -27% -5.09% 8.79% 6.02% 3.84% 4.28% 3.99%
FCF Conversion (EBITDA) 12.12% - - 76.12% 43.46% 31.67% 33.89% 31.63%
FCF Conversion (Net income) 47.98% - - 364.35% 127.56% 95.74% 94.89% 86.43%
Dividend per Share 2 - - - - 0.3000 0.2930 0.3485 0.4302
Announcement Date 3/19/20 3/4/21 3/3/22 3/3/23 3/7/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 5,771 5,207 5,833 5,363 8,462 13,825 10,068 8,877 7,017 9,389 16,406 10,275 8,761 7,033 10,046 10,740 9,326 -
EBITDA 1 - 531 - -28 958 - 1,706 1,150 - 1,508 - 2,026 973 -163.8 1,705 2,302 714.3 -
EBIT 1 -2,095 17 -271 -591 393 -198 1,132 575 -273 965 453 1,468 402 -583.9 1,021 1,470 250.2 -
Operating Margin -36.3% 0.33% -4.65% -11.02% 4.64% -1.43% 11.24% 6.48% -3.89% 10.28% 2.76% 14.29% 4.59% -8.3% 10.16% 13.69% 2.68% -
Earnings before Tax (EBT) 1 -2,234 -84 -288 -690 356 -334 1,078 306 -530 1,086 511 1,489 297 -584.8 984.3 1,375 13.54 -
Net income 1 -1,805 -72 -314 -584 259 -325 809 307 -467 881 414 1,192 67 -505.5 738 1,065 95.43 -
Net margin -31.28% -1.38% -5.38% -10.89% 3.06% -2.35% 8.04% 3.46% -6.66% 9.38% 2.52% 11.6% 0.76% -7.19% 7.35% 9.91% 1.02% -
EPS 2 - -0.1500 -0.4500 -0.4900 0.2200 - - 0.2500 -0.3900 0.7400 - 1.000 0.0500 -0.4228 0.6173 0.8907 0.0798 -
Dividend per Share 2 - - - - - - - - - - - - 0.3000 - - - 0.2611 -
Announcement Date 8/5/21 11/3/21 3/3/22 5/5/22 8/5/22 8/5/22 10/27/22 3/3/23 5/3/23 8/3/23 8/3/23 11/2/23 3/7/24 - - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 6,662 9,922 9,023 6,871 5,682 4,926 4,050 4,138
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.387 x -3.911 x 273.4 x 1.815 x 1.157 x 1.065 x 0.792 x 0.7739 x
Free Cash Flow 1 582 -3,669 -855 2,882 2,134 1,464 1,733 1,691
ROE (net income / shareholders' equity) 12.1% -488% -75.6% 12.3% 18.6% 14.9% 16% 15.9%
ROA (Net income/ Total Assets) 3% -16.4% -5.34% 1.84% 3.77% 3.04% 3.77% 4.16%
Assets 1 40,436 41,081 41,011 42,935 44,328 50,319 48,448 47,003
Book Value Per Share 2 21.20 2.250 3.720 7.030 8.080 8.900 10.20 11.10
Cash Flow per Share 2 8.470 -4.330 0.8400 4.320 4.140 3.610 3.890 3.230
Capex 1 3,559 1,273 1,329 2,286 4,115 2,808 3,015 3,020
Capex / Sales 9.77% 9.37% 7.91% 6.98% 11.61% 7.36% 7.44% 7.12%
Announcement Date 3/19/20 3/4/21 3/3/22 3/3/23 3/7/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
17
Last Close Price
6.696 EUR
Average target price
8.524 EUR
Spread / Average Target
+27.29%
Consensus