(AF) Air France-KLM - Overview
Sector: Industrials | Industry: Airlines | Exchange: PA (France) | Market Cap: 2.861m EUR | Total Return: 25.6% in 12m
Avg Turnover: 21.0M
EPS Trend: -16.4%
Qual. Beats: 0
Rev. Trend: 99.7%
Qual. Beats: 0
Warnings
Altman Z'' -1.20 < 1.0 - financial distress zone
Extended 1w Choppy
Tailwinds
No distinct edge detected
Air France-KLM SA is a major European airline group providing scheduled passenger and cargo transportation across a global network. The company operates a multi-brand strategy utilizing Air France, KLM Royal Dutch Airlines, and its low-cost carrier, Transavia. Beyond flight operations, the group maintains a significant presence in the Maintenance, Repair, and Overhaul (MRO) sector, providing technical support for airframes, engines, and components to third-party airlines.
The business model relies on a dual-hub system centered at Paris-Charles de Gaulle and Amsterdam-Schiphol, which facilitates high-volume transit traffic between long-haul and regional routes. As a legacy carrier, the company competes in a capital-intensive industry characterized by high fixed costs and sensitivity to global energy prices. Investors may find it useful to evaluate the company’s specific financial health and valuation metrics on ValueRay.
- Fluctuating jet fuel prices directly impact operating margins and bottom-line profitability
- Transavia low-cost expansion competes for European short-haul market share recovery
- Global corporate travel demand cycles dictate high-margin premium cabin revenue
- EU environmental regulations and carbon taxes increase structural long-term operating costs
- Maintenance segment growth provides diversified revenue streams beyond passenger flight operations
| Net Income: 1.58b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 0.12 > 1.0 |
| NWC/Revenue: -16.55% < 20% (prev -21.39%; Δ 4.84% < -1%) |
| CFO/TA 0.10 > 3% & CFO 4.49b > Net Income 1.58b |
| Net Debt (22.4b) to EBITDA (5.86b): 3.83 < 3 |
| Current Ratio: 0.72 > 1.5 & < 3 |
| Outstanding Shares: last quarter (262.6m) vs 12m ago -0.00% < -2% |
| Gross Margin: 15.72% > 18% (prev 0.18%; Δ 1.55k% > 0.5%) |
| Asset Turnover: 82.94% > 50% (prev 85.36%; Δ -2.41% > 0%) |
| Interest Coverage Ratio: 4.53 > 6 (EBITDA TTM 5.86b / Interest Expense TTM 595.0m) |
| A: -0.13 (Total Current Assets 13.9b - Total Current Liabilities 19.4b) / Total Assets 42.9b |
| B: -0.19 (Retained Earnings -8.05b / Total Assets 42.9b) |
| C: 0.07 (EBIT TTM 2.69b / Avg Total Assets 40.2b) |
| D: -0.19 (Book Value of Equity -7.79b / Total Liabilities 41.0b) |
| Altman-Z'' = -1.20 = CCC |
| DSRI: 1.14 (Receivables 2.93b/2.46b, Revenue 33.3b/32.0b) |
| GMI: 1.15 (GM 15.72% / 18.14%) |
| AQI: 0.83 (AQ_t 0.10 / AQ_t-1 0.11) |
| SGI: 1.04 (Revenue 33.3b / 32.0b) |
| TATA: -0.07 (NI 1.58b - CFO 4.49b) / TA 42.9b) |
| Beneish M = -2.91 (Cap -4..+1) = A |
As of May 29, 2026, the stock is trading at EUR 11.51 with a total of 1,415,928 shares traded.
Over the past week, the price has changed by +14.02%,
over one month by +28.84%,
over three months by -6.46% and
over the past year by +25.60%.
Air France-KLM has no consensus analysts rating.
P/E Trailing = 1.9773
P/E Forward = 3.4294
P/S = 0.0808
P/B = 2.7122
P/EG = 0.1436
Revenue TTM = 33.3b EUR
EBIT TTM = 2.69b EUR
EBITDA TTM = 5.86b EUR
Long Term Debt = 2.52b EUR (from longTermDebt, last quarter)
Short Term Debt = 3.03b EUR (from shortTermDebt, last quarter)
Debt = 28.4b EUR (from shortLongTermDebtTotal, last quarter) + Leases 10.9b
Net Debt = 22.4b EUR (calculated: Debt 28.4b - CCE 5.92b)
Enterprise Value = 25.3b EUR (2.86b + Debt 28.4b - CCE 5.92b)
Interest Coverage Ratio = 4.53 (Ebit TTM 2.69b / Interest Expense TTM 595.0m)
EV/FCF = 80.30x (Enterprise Value 25.3b / FCF TTM 315.0m)
FCF Yield = 1.25% (FCF TTM 315.0m / Enterprise Value 25.3b)
FCF Margin = 0.95% (FCF TTM 315.0m / Revenue TTM 33.3b)
Net Margin = 4.74% (Net Income TTM 1.58b / Revenue TTM 33.3b)
Gross Margin = 15.72% ((Revenue TTM 33.3b - Cost of Revenue TTM 28.1b) / Revenue TTM)
Gross Margin QoQ = 6.57% (prev 10.09%)
Tobins Q-Ratio = 0.59 (Enterprise Value 25.3b / Total Assets 42.9b)
Interest Expense / Debt = 2.10% (Interest Expense 595.0m / Debt 28.4b)
Taxrate = 6.55% (123.0m / 1.88b)
NOPAT = 2.52b (EBIT 2.69b * (1 - 6.55%))
Current Ratio = 0.72 (Total Current Assets 13.9b / Total Current Liabilities 19.4b)
Debt / Equity = -111.6 (out of range, set to none) (Debt 28.4b / totalStockholderEquity, last quarter -254.0m)
Debt / EBITDA = 3.83 (Net Debt 22.4b / EBITDA 5.86b)
Debt / FCF = 71.22 (Net Debt 22.4b / FCF TTM 315.0m)
Total Stockholder Equity = -886.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.93% (Net Income 1.58b / Total Assets 42.9b)
RoE = 22.06% (Net Income TTM 1.58b / Total Stockholder Equity 7.16b)
RoCE = 27.81% (EBIT 2.69b / Capital Employed (Equity 7.16b + L.T.Debt 2.52b))
RoIC = 9.49% (NOPAT 2.52b / Invested Capital 26.5b)
WACC = 2.43% (E(2.86b)/V(31.2b) * Re(7.10%) + D(28.4b)/V(31.2b) * Rd(2.10%) * (1-Tc(0.07)))
Discount Rate = 7.10% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 32.76 | Cagr: 16.43%
[DCF] Terminal Value 77.97% ; FCFF base≈281.0m ; Y1≈322.1m ; Y5≈474.1m
[DCF] Fair Price = N/A (negative equity: EV 7.13b - Net Debt 22.4b = -15.3b; debt exceeds intrinsic value)
EPS Correlation: -16.35 | EPS CAGR: -11.13% | SUE: 0.28 | # QB: 0
Revenue Correlation: 99.74 | Revenue CAGR: 4.97% | SUE: 0.01 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.49 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS next Quarter (2026-09-30): EPS=2.43 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS current Year (2026-12-31): EPS=3.34 | Chg30d=-1.68% | Revisions=-40% | GrowthEPS=-42.6% | GrowthRev=+6.6%
EPS next Year (2027-12-31): EPS=4.83 | Chg30d=+10.75% | Revisions=+0% | GrowthEPS=+44.5% | GrowthRev=+4.5%
[Analyst] Revisions Ratio: -40%