(FRA) Fraport - Ratings and Ratios
Aviation, Retail, Real Estate, Ground Handling, International Services
Dividends
Currently no dividends paid| Risk via 5d forecast | |
|---|---|
| Volatility | 33.0% |
| Value at Risk 5%th | 50.4% |
| Relative Tail Risk | -7.23% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.96 |
| Alpha | 25.35 |
| CAGR/Max DD | 0.80 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.450 |
| Beta | 0.055 |
| Beta Downside | 0.140 |
| Drawdowns 3y | |
|---|---|
| Max DD | 22.63% |
| Mean DD | 8.32% |
| Median DD | 7.93% |
Description: FRA Fraport November 05, 2025
Fraport AG (XETRA:FRA) is a German-based airport operator founded in 1924, best known for managing Frankfurt Main Airport, one of Europe’s largest hubs. The company structures its business into four segments: Aviation (airport charges and security services), Retail & Real Estate (commercial leasing, parking, advertising and retail), Ground Handling (baggage, cargo and passenger services), and International Activities & Services (airport development, consulting and telecom infrastructure).
In FY 2023 Frankfurt handled roughly 70 million passengers, generating €2.9 billion in revenue, with non-aeronautical activities (retail, parking, advertising) contributing about 45 % of total earnings-a key driver of profit margins in the airport-services sector. The Aviation segment remains the largest revenue source, but growth is increasingly tied to ancillary streams such as duty-free sales and real-estate leases.
Macro-level factors that shape Fraport’s outlook include the post-COVID rebound in global air travel, EU regulatory constraints on slot allocation, and the broader trend of airlines consolidating routes into larger hub airports. Capacity constraints at Frankfurt (currently operating near its 70-million-passenger design limit) create pricing power for landing fees, while also prompting the company’s International Activities & Services segment to seek expansion opportunities abroad.
For a deeper dive into Fraport’s valuation metrics and scenario analysis, the ValueRay platform offers a transparent, data-driven toolkit you may find useful.
Piotroski VR‑10 (Strict, 0-10) 4.0
| Net Income (468.5m TTM) > 0 and > 6% of Revenue (6% = 262.5m TTM) |
| FCFTA 0.00 (>2.0%) and ΔFCFTA 2.49pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 43.55% (prev 39.19%; Δ 4.35pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.08 (>3.0%) and CFO 1.61b > Net Income 468.5m (YES >=105%, WARN >=100%) |
| Net Debt (8.77b) to EBITDA (957.0m) ratio: 9.16 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.87 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (92.4m) change vs 12m ago 0.15% (target <= -2.0% for YES) |
| Gross Margin 38.06% (prev 25.51%; Δ 12.55pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 21.78% (prev 22.11%; Δ -0.33pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 1.57 (EBITDA TTM 957.0m / Interest Expense TTM 354.6m) >= 6 (WARN >= 3) |
Altman Z'' 1.72
| (A) 0.09 = (Total Current Assets 4.10b - Total Current Liabilities 2.20b) / Total Assets 20.40b |
| (B) 0.18 = Retained Earnings (Balance) 3.76b / Total Assets 20.40b |
| (C) 0.03 = EBIT TTM 555.8m / Avg Total Assets 20.08b |
| (D) 0.31 = Book Value of Equity 4.68b / Total Liabilities 15.26b |
| Total Rating: 1.72 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 63.86
| 1. Piotroski 4.0pt |
| 2. FCF Yield 0.49% |
| 3. FCF Margin 1.67% |
| 4. Debt/Equity 2.17 |
| 5. Debt/Ebitda 9.16 |
| 6. ROIC - WACC (= 5.96)% |
| 7. RoE 9.57% |
| 8. Rev. Trend 72.46% |
| 9. EPS Trend 49.87% |
What is the price of FRA shares?
Over the past week, the price has changed by -3.13%, over one month by -7.76%, over three months by -6.58% and over the past year by +30.73%.
Is FRA a buy, sell or hold?
What are the forecasts/targets for the FRA price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 75.6 | 8.7% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 72.3 | 4% |
FRA Fundamental Data Overview December 10, 2025
Market Cap EUR = 6.73b (6.73b EUR * 1.0 EUR.EUR)
P/E Trailing = 14.3688
P/E Forward = 9.0744
P/S = 1.5146
P/B = 1.2902
Beta = 1.074
Revenue TTM = 4.37b EUR
EBIT TTM = 555.8m EUR
EBITDA TTM = 957.0m EUR
Long Term Debt = 12.24b EUR (from longTermDebt, last quarter)
Short Term Debt = 47.8m EUR (from shortTermDebt, last fiscal year)
Debt = 11.16b EUR (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 8.77b EUR (from netDebt column, last fiscal year)
Enterprise Value = 15.02b EUR (6.73b + Debt 11.16b - CCE 2.86b)
Interest Coverage Ratio = 1.57 (Ebit TTM 555.8m / Interest Expense TTM 354.6m)
FCF Yield = 0.49% (FCF TTM 73.0m / Enterprise Value 15.02b)
FCF Margin = 1.67% (FCF TTM 73.0m / Revenue TTM 4.37b)
Net Margin = 10.71% (Net Income TTM 468.5m / Revenue TTM 4.37b)
Gross Margin = 38.06% ((Revenue TTM 4.37b - Cost of Revenue TTM 2.71b) / Revenue TTM)
Gross Margin QoQ = 68.83% (prev 25.05%)
Tobins Q-Ratio = 0.74 (Enterprise Value 15.02b / Total Assets 20.40b)
Interest Expense / Debt = 0.84% (Interest Expense 93.5m / Debt 11.16b)
Taxrate = 23.31% (104.2m / 447.1m)
NOPAT = 426.3m (EBIT 555.8m * (1 - 23.31%))
Current Ratio = 1.87 (Total Current Assets 4.10b / Total Current Liabilities 2.20b)
Debt / Equity = 2.17 (Debt 11.16b / totalStockholderEquity, last quarter 5.14b)
Debt / EBITDA = 9.16 (Net Debt 8.77b / EBITDA 957.0m)
Debt / FCF = 120.1 (Net Debt 8.77b / FCF TTM 73.0m)
Total Stockholder Equity = 4.89b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.30% (Net Income 468.5m / Total Assets 20.40b)
RoE = 9.57% (Net Income TTM 468.5m / Total Stockholder Equity 4.89b)
RoCE = 3.24% (EBIT 555.8m / Capital Employed (Equity 4.89b + L.T.Debt 12.24b))
RoIC = 8.71% (NOPAT 426.3m / Invested Capital 4.90b)
WACC = 2.74% (E(6.73b)/V(17.89b) * Re(6.22%) + D(11.16b)/V(17.89b) * Rd(0.84%) * (1-Tc(0.23)))
Discount Rate = 6.22% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 81.65 | Cagr: 0.00%
[DCF Debug] Terminal Value 70.46% ; FCFE base≈73.0m ; Y1≈47.9m ; Y5≈21.9m
Fair Price DCF = 4.66 (DCF Value 430.8m / Shares Outstanding 92.4m; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: 49.87 | EPS CAGR: 45.75% | SUE: 3.51 | # QB: 1
Revenue Correlation: 72.46 | Revenue CAGR: 21.93% | SUE: -0.26 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.28 | Chg30d=-0.192 | Revisions Net=-1 | Analysts=1
EPS next Year (2026-12-31): EPS=4.02 | Chg30d=-0.164 | Revisions Net=-4 | Growth EPS=-10.3% | Growth Revenue=+2.7%