FRA Stock Analysis: Fraport | XETRA
Airports & Air Services | XETRA, Germany | Market Cap: 6.293m EUR | 12M Return: 0.1% | DE0005773303 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 6.59M
EPS Trend: -48.1%
Qual. Beats: 0
Rev. Trend: 87.1%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 11.9 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.
Fraport AG is a German airport operator headquartered in Frankfurt am Main, with its primary asset being Frankfurt Main airport, one of Europes largest aviation hubs. The company also owns and operates airports across the rest of Europe, Asia, and the Americas, diversifying its geographic footprint beyond its home market.
Fraports business is organized into four reporting segments: Aviation, Retail & Real Estate, Ground Handling, and International Activities & Services. This structure reflects the diversified revenue model typical of airport operators, which typically generate income not only from aeronautical fees (landing, passenger, and security charges) but also from non-aeronautical sources such as retail concessions, real estate rentals, parking, and advertising.
The Aviation segment handles airfield and terminal infrastructure operations, including security-related services. The Retail & Real Estate segment focuses on commercial property development, parking facilities, retail concessions, and advertising space-non-aviation revenue streams that are typically higher-margin and less sensitive to airline pricing pressure than aeronautical fees.
The Ground Handling segment provides a range of ramp and terminal services, including baggage handling, loading, airmail and freight transport, and operates the central baggage transfer system at Frankfurt Airport. The International Activities & Services segment pursues growth by acquiring, developing, and operating airports abroad, while also offering consulting and integrated facility management services to third parties.
Fraport was founded in 1924 and is listed on the XETRA exchange in Frankfurt under the ticker FRA. The company operates in the Airport Services sub-industry, a capital-intensive sector where revenue is closely tied to passenger and cargo traffic volumes, making operators sensitive to macroeconomic cycles, tourism trends, and aviation-specific disruptions.
- Frankfurt passenger traffic recovery drives aviation segment revenue growth
- Airport charges face regulatory caps under German aviation authority
- International airport portfolio expansion in Greece and Turkey boosts margins
| Net Income: 388.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA 2.19 > 1.0 |
| NWC/Revenue: 25.52% < 20% (prev 31.64%; Δ -6.12% < -1%) |
| CFO/TA 0.06 > 3% & CFO 1.26b > Net Income 388.2m |
| Net Debt (10.0b) to EBITDA (1.50b): 6.69 < 3 |
| Current Ratio: 1.50 > 1.5 & < 3 |
| Outstanding Shares: last quarter (92.5m) vs 12m ago 0.08% < -2% |
| Gross Margin: 22.50% > 18% (prev 26.07%; Δ -3.57% > 0.5%) |
| Asset Turnover: 22.40% > 50% (prev 22.07%; Δ 0.33% > 0%) |
| Interest Coverage Ratio: 2.27 > 6 (EBIT TTM 880.3m / Interest Expense TTM 387.6m) |
| A: 0.06 (Total Current Assets 3.43b - Total Current Liabilities 2.28b) / Total Assets 20.4b |
| B: 0.19 (Retained Earnings 3.80b / Total Assets 20.4b) |
| C: 0.04 (EBIT TTM 880.3m / Avg Total Assets 20.1b) |
| D: 0.35 (Book Value of Equity 5.19b / Total Liabilities 14.9b) |
| Altman-Z'' = 1.63 = BB |
| DSRI: 0.69 (Receivables 467.7m/662.2m, Revenue 4.51b/4.38b) |
| GMI: 1.16 (GM 26.07% / 22.50%) |
| AQI: 1.02 (AQ_t 0.31 / AQ_t-1 0.30) |
| SGI: 1.03 (Revenue 4.51b / 4.38b) |
| TATA: -0.04 (NI 388.2m - CFO 1.26b) / TA 20.4b) |
| Beneish M = -3.11 (Cap -4..+1) = AA |
As of November 11, 2026, the stock is trading at EUR 70.75 with a total of 102,961 shares traded. Over the past week, the price has changed by +7.12%, over one month by +22.94%, over three months by +6.23% and over the past year by +0.05%.
Current recommended Stop Loss: 68.40 (which is 3.3% or 1.3 ATR below the current price).
Fraport has no consensus analysts rating.
P/E Trailing = 16.2024
P/E Forward = 17.1233
P/S = 1.3806
P/B = 1.1776
P/EG = 2.1688
Revenue TTM = 4.51b EUR
EBIT TTM = 880.3m EUR
EBITDA TTM = 1.50b EUR
Long Term Debt = 11.8b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 1.20b EUR (from shortTermDebt, last quarter)
Debt = 12.4b EUR (from shortLongTermDebtTotal, last quarter) + Leases 219.8m
Net Debt = 10.0b EUR (calculated: Debt 12.4b - CCE 2.35b)
Enterprise Value = 16.3b EUR (6.29b + Debt 12.4b - CCE 2.35b)
Interest Coverage Ratio = 2.27 (Ebit TTM 880.3m / Interest Expense TTM 387.6m)
EV/FCF = 48.38x (Enterprise Value 16.3b / FCF TTM 336.8m)
FCF Yield = 2.07% (FCF TTM 336.8m / Enterprise Value 16.3b)
FCF Margin = 7.47% (FCF TTM 336.8m / Revenue TTM 4.51b)
Net Margin = 8.61% (Net Income TTM 388.2m / Revenue TTM 4.51b)
Gross Margin = 22.50% ((Revenue TTM 4.51b - Cost of Revenue TTM 3.50b) / Revenue TTM)
Gross Margin QoQ = 19.81% (prev 10.54%)
Tobins Q-Ratio = 0.80 (Enterprise Value 16.3b / Total Assets 20.4b)
Interest Expense / Debt = 3.14% (Interest Expense 387.6m / Debt 12.4b)
Taxrate = 28.20% (165.4m / 586.5m)
NOPAT = 632.0m (EBIT 880.3m * (1 - 28.20%))
Current Ratio = 1.50 (Total Current Assets 3.43b / Total Current Liabilities 2.28b)
Debt / Equity = 2.38 (Debt 12.4b / totalStockholderEquity, last quarter 5.19b)
Debt / EBITDA = 6.69 (Net Debt 10.0b / EBITDA 1.50b)
Debt / FCF = 29.70 (Net Debt 10.0b / FCF TTM 336.8m)
Total Stockholder Equity = 5.18b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.93% (Net Income 388.2m / Total Assets 20.4b)
RoE = 7.50% (Net Income TTM 388.2m / Total Stockholder Equity 5.18b)
RoCE = 5.20% (EBIT 880.3m / Capital Employed (Equity 5.18b + L.T.Debt 11.8b))
RoIC = 3.30% (NOPAT 632.0m / Invested Capital 19.1b)
WACC = 3.47% (E(6.29b)/V(18.6b) * Re(5.87%) + D(12.4b)/V(18.6b) * Rd(3.14%) * (1-Tc(0.28)))
Discount Rate = 5.87% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 12.68 | Cagr: 0.04%
[DCF] Terminal Value 75.44% ; FCFF base≈336.8m ; Y1≈338.2m ; Y5≈358.2m
[DCF] Fair Price = N/A (negative equity: EV 5.57b - Net Debt 10.0b = -4.43b; debt exceeds intrinsic value)
EPS Correlation: -48.06 | EPS CAGR: -6.00% | SUE: 0.42 | # QB: 0
Revenue Correlation: 87.14 | Revenue CAGR: 4.81% | SUE: 1.26 | # QB: 1
EPS current Quarter (2027-03-31): EPS=-0.16 | Chg30d=+12.05% | Revisions=+25% | Analysts=1
EPS current Year (2026-12-31): EPS=3.19 | Chg30d=+0.57% | Revisions=+38% | GrowthEPS=-31.8% | GrowthRev=+2.9%
EPS next Year (2027-12-31): EPS=3.44 | Chg30d=-1.87% | Revisions=-30% | GrowthEPS=+7.9% | GrowthRev=+4.6%
[Analyst] Revisions Ratio: +6% (up=7, down=6)