(LHA) Deutsche Lufthansa - Ratings and Ratios
Exchange: XETRA •
Country: Germany •
Currency: EUR •
Type: Common Stock •
ISIN: DE0008232125
Passenger, Air, Cargo, Maintenance, Training
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 3.50% |
| Yield on Cost 5y | 4.98% |
| Yield CAGR 5y | % |
| Payout Consistency | 41.4% |
| Payout Ratio | 22.1% |
| Risk via 5d forecast | |
|---|---|
| Volatility | 32.2% |
| Value at Risk 5%th | 50.9% |
| Relative Tail Risk | -3.87% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.12 |
| Alpha | 38.35 |
| CAGR/Max DD | 0.07 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.485 |
| Beta | 0.223 |
| Beta Downside | 0.428 |
| Drawdowns 3y | |
|---|---|
| Max DD | 47.23% |
| Mean DD | 28.78% |
| Median DD | 29.82% |
Description: LHA Deutsche Lufthansa November 05, 2025
Deutsche Lufthansa AG (XETRA:LHA) is a German-based aviation group operating three core segments: Passenger Airlines (Lufthansa, SWISS, Austrian, Brussels, Eurowings), Logistics (air-freight, e-commerce solutions, customs services) and Maintenance, Repair & Overhaul (MRO) for civil aircraft, VIP jets, and government fleets.
As of 31 December 2024 the group managed a fleet of 735 aircraft and reported FY 2024 revenue of €44 billion, with a passenger-load factor of 84 %-both metrics tracking closely to pre-pandemic levels and indicating a rebound in European travel demand.
Key economic drivers for Lufthansa include: (1) volatile jet-fuel prices, which historically account for ~30 % of operating costs; (2) labor cost pressures in Germany and the EU, where collective bargaining agreements can tighten margins; and (3) the pace of ESG regulation, especially EU-wide carbon-offset mandates that affect ticket pricing and fleet renewal decisions.
For a deeper, data-rich assessment of Lufthansa’s valuation dynamics, you may find the analytics on ValueRay useful as a next step in your research.
Piotroski VR‑10 (Strict, 0-10) 3.5
| Net Income (1.64b TTM) > 0 and > 6% of Revenue (6% = 2.35b TTM) |
| FCFTA 0.01 (>2.0%) and ΔFCFTA 1.28pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue -7.88% (prev -9.56%; Δ 1.69pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.09 (>3.0%) and CFO 4.36b > Net Income 1.64b (YES >=105%, WARN >=100%) |
| Net Debt (13.13b) to EBITDA (4.66b) ratio: 2.82 <= 3.0 (WARN <= 3.5) |
| Current Ratio 0.85 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (1.20b) change vs 12m ago 0.68% (target <= -2.0% for YES) |
| Gross Margin 14.08% (prev 11.77%; Δ 2.31pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 82.07% (prev 79.45%; Δ 2.61pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 4.22 (EBITDA TTM 4.66b / Interest Expense TTM 513.0m) >= 6 (WARN >= 3) |
Altman Z'' 0.61
| (A) -0.06 = (Total Current Assets 17.37b - Total Current Liabilities 20.45b) / Total Assets 48.83b |
| (B) 0.13 = Retained Earnings (Balance) 6.20b / Total Assets 48.83b |
| (C) 0.05 = EBIT TTM 2.16b / Avg Total Assets 47.63b |
| (D) 0.29 = Book Value of Equity 10.86b / Total Liabilities 37.41b |
| Total Rating: 0.61 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 68.49
| 1. Piotroski 3.50pt |
| 2. FCF Yield 2.74% |
| 3. FCF Margin 1.63% |
| 4. Debt/Equity 1.27 |
| 5. Debt/Ebitda 2.82 |
| 6. ROIC - WACC (= 8.28)% |
| 7. RoE 15.05% |
| 8. Rev. Trend 63.63% |
| 9. EPS Trend 31.94% |
What is the price of LHA shares?
As of December 22, 2025, the stock is trading at EUR 8.57 with a total of 5,522,508 shares traded.
Over the past week, the price has changed by +0.68%, over one month by +7.91%, over three months by +17.01% and over the past year by +45.09%.
Over the past week, the price has changed by +0.68%, over one month by +7.91%, over three months by +17.01% and over the past year by +45.09%.
Is LHA a buy, sell or hold?
Deutsche Lufthansa has no consensus analysts rating.
What are the forecasts/targets for the LHA price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 8 | -6.5% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 9.2 | 7.8% |
LHA Fundamental Data Overview December 21, 2025
Market Cap USD = 12.03b (10.27b EUR * 1.171 EUR.USD)
Market Cap EUR = 10.27b (10.27b EUR * 1.0 EUR.EUR)
P/E Trailing = 6.3015
P/E Forward = 6.8729
P/S = 0.261
P/B = 0.907
P/EG = 1.187
Beta = 1.282
Revenue TTM = 39.09b EUR
EBIT TTM = 2.16b EUR
EBITDA TTM = 4.66b EUR
Long Term Debt = 12.03b EUR (from longTermDebt, last quarter)
Short Term Debt = 2.44b EUR (from shortTermDebt, last quarter)
Debt = 14.46b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 13.13b EUR (from netDebt column, last quarter)
Enterprise Value = 23.36b EUR (10.27b + Debt 14.46b - CCE 1.37b)
Interest Coverage Ratio = 4.22 (Ebit TTM 2.16b / Interest Expense TTM 513.0m)
FCF Yield = 2.74% (FCF TTM 639.0m / Enterprise Value 23.36b)
FCF Margin = 1.63% (FCF TTM 639.0m / Revenue TTM 39.09b)
Net Margin = 4.20% (Net Income TTM 1.64b / Revenue TTM 39.09b)
Gross Margin = 14.08% ((Revenue TTM 39.09b - Cost of Revenue TTM 33.59b) / Revenue TTM)
Gross Margin QoQ = 18.46% (prev 14.36%)
Tobins Q-Ratio = 0.48 (Enterprise Value 23.36b / Total Assets 48.83b)
Interest Expense / Debt = 0.85% (Interest Expense 123.0m / Debt 14.46b)
Taxrate = 27.00% (361.0m / 1.34b)
NOPAT = 1.58b (EBIT 2.16b * (1 - 27.00%))
Current Ratio = 0.85 (Total Current Assets 17.37b / Total Current Liabilities 20.45b)
Debt / Equity = 1.27 (Debt 14.46b / totalStockholderEquity, last quarter 11.36b)
Debt / EBITDA = 2.82 (Net Debt 13.13b / EBITDA 4.66b)
Debt / FCF = 20.54 (Net Debt 13.13b / FCF TTM 639.0m)
Total Stockholder Equity = 10.92b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.36% (Net Income 1.64b / Total Assets 48.83b)
RoE = 15.05% (Net Income TTM 1.64b / Total Stockholder Equity 10.92b)
RoCE = 9.43% (EBIT 2.16b / Capital Employed (Equity 10.92b + L.T.Debt 12.03b))
RoIC = 11.48% (NOPAT 1.58b / Invested Capital 13.76b)
WACC = 3.20% (E(10.27b)/V(24.73b) * Re(6.84%) + D(14.46b)/V(24.73b) * Rd(0.85%) * (1-Tc(0.27)))
Discount Rate = 6.84% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 100.0 | Cagr: 0.07%
[DCF Debug] Terminal Value 70.46% ; FCFE base≈388.6m ; Y1≈255.1m ; Y5≈116.7m
Fair Price DCF = 1.91 (DCF Value 2.29b / Shares Outstanding 1.20b; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: 31.94 | EPS CAGR: 50.68% | SUE: 0.36 | # QB: 0
Revenue Correlation: 63.63 | Revenue CAGR: 19.00% | SUE: 0.48 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.40 | Chg30d=+0.031 | Revisions Net=+1 | Analysts=1
EPS next Year (2026-12-31): EPS=1.25 | Chg30d=+0.001 | Revisions Net=+1 | Growth EPS=+17.0% | Growth Revenue=+5.1%
Market Cap EUR = 10.27b (10.27b EUR * 1.0 EUR.EUR)
P/E Trailing = 6.3015
P/E Forward = 6.8729
P/S = 0.261
P/B = 0.907
P/EG = 1.187
Beta = 1.282
Revenue TTM = 39.09b EUR
EBIT TTM = 2.16b EUR
EBITDA TTM = 4.66b EUR
Long Term Debt = 12.03b EUR (from longTermDebt, last quarter)
Short Term Debt = 2.44b EUR (from shortTermDebt, last quarter)
Debt = 14.46b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 13.13b EUR (from netDebt column, last quarter)
Enterprise Value = 23.36b EUR (10.27b + Debt 14.46b - CCE 1.37b)
Interest Coverage Ratio = 4.22 (Ebit TTM 2.16b / Interest Expense TTM 513.0m)
FCF Yield = 2.74% (FCF TTM 639.0m / Enterprise Value 23.36b)
FCF Margin = 1.63% (FCF TTM 639.0m / Revenue TTM 39.09b)
Net Margin = 4.20% (Net Income TTM 1.64b / Revenue TTM 39.09b)
Gross Margin = 14.08% ((Revenue TTM 39.09b - Cost of Revenue TTM 33.59b) / Revenue TTM)
Gross Margin QoQ = 18.46% (prev 14.36%)
Tobins Q-Ratio = 0.48 (Enterprise Value 23.36b / Total Assets 48.83b)
Interest Expense / Debt = 0.85% (Interest Expense 123.0m / Debt 14.46b)
Taxrate = 27.00% (361.0m / 1.34b)
NOPAT = 1.58b (EBIT 2.16b * (1 - 27.00%))
Current Ratio = 0.85 (Total Current Assets 17.37b / Total Current Liabilities 20.45b)
Debt / Equity = 1.27 (Debt 14.46b / totalStockholderEquity, last quarter 11.36b)
Debt / EBITDA = 2.82 (Net Debt 13.13b / EBITDA 4.66b)
Debt / FCF = 20.54 (Net Debt 13.13b / FCF TTM 639.0m)
Total Stockholder Equity = 10.92b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.36% (Net Income 1.64b / Total Assets 48.83b)
RoE = 15.05% (Net Income TTM 1.64b / Total Stockholder Equity 10.92b)
RoCE = 9.43% (EBIT 2.16b / Capital Employed (Equity 10.92b + L.T.Debt 12.03b))
RoIC = 11.48% (NOPAT 1.58b / Invested Capital 13.76b)
WACC = 3.20% (E(10.27b)/V(24.73b) * Re(6.84%) + D(14.46b)/V(24.73b) * Rd(0.85%) * (1-Tc(0.27)))
Discount Rate = 6.84% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 100.0 | Cagr: 0.07%
[DCF Debug] Terminal Value 70.46% ; FCFE base≈388.6m ; Y1≈255.1m ; Y5≈116.7m
Fair Price DCF = 1.91 (DCF Value 2.29b / Shares Outstanding 1.20b; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: 31.94 | EPS CAGR: 50.68% | SUE: 0.36 | # QB: 0
Revenue Correlation: 63.63 | Revenue CAGR: 19.00% | SUE: 0.48 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.40 | Chg30d=+0.031 | Revisions Net=+1 | Analysts=1
EPS next Year (2026-12-31): EPS=1.25 | Chg30d=+0.001 | Revisions Net=+1 | Growth EPS=+17.0% | Growth Revenue=+5.1%