(FRA) Fraport - Overview
Sector: Industrials | Industry: Airports & Air Services | Exchange: XETRA (Germany) | Market Cap: 6.274m EUR | Total Return: 21.1% in 12m
Avg Turnover: 11.0M
EPS Trend: 56.3%
Qual. Beats: 0
Rev. Trend: 87.6%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Fraport AG is a global airport operator headquartered in Frankfurt am Main, Germany. The company manages Frankfurt Airport (FRA), one of Europe’s busiest aviation hubs, alongside a diversified portfolio of international airports across Europe, Asia, and the Americas. Its business model is structured into four primary segments: Aviation, Retail & Real Estate, Ground Handling, and International Activities & Services.
The company generates revenue through regulated airport charges and non-regulated commercial streams, including retail leasing, real estate development, and advertising. In the airport services sector, operators often utilize long-term concessions to manage foreign infrastructure, allowing for geographic diversification away from their domestic hub. Ground handling remains a critical labor-intensive component of the business, involving complex logistics for passenger baggage, airmail, and freight transport.
Investors looking for deeper fundamental analysis may find ValueRay a useful tool for further due diligence. Fraport continues to expand its international footprint by providing consulting and integrated facility management services to third-party infrastructure projects globally.
- Frankfurt Airport passenger volume recovery dictates core aviation and retail revenue growth
- Rising personnel and energy costs compress margins across ground handling operations
- International airport portfolio expansion cushions domestic regulatory and economic volatility
- German aviation tax increases threaten hub competitiveness and total flight movements
- Capital expenditure for Terminal 3 expansion impacts long-term debt and dividend capacity
| Net Income: 430.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA 3.31 > 1.0 |
| NWC/Revenue: 27.61% < 20% (prev 31.46%; Δ -3.85% < -1%) |
| CFO/TA 0.07 > 3% & CFO 1.37b > Net Income 430.2m |
| Net Debt (9.90b) to EBITDA (1.52b): 6.52 < 3 |
| Current Ratio: 1.51 > 1.5 & < 3 |
| Outstanding Shares: last quarter (92.5m) vs 12m ago 2.11% < -2% |
| Gross Margin: 23.86% > 18% (prev 0.25%; Δ 2.36k% > 0.5%) |
| Asset Turnover: 22.08% > 50% (prev 22.22%; Δ -0.14% > 0%) |
| Interest Coverage Ratio: 2.71 > 6 (EBITDA TTM 1.52b / Interest Expense TTM 350.9m) |
| A: 0.06 (Total Current Assets 3.63b - Total Current Liabilities 2.40b) / Total Assets 20.4b |
| B: 0.19 (Retained Earnings 3.80b / Total Assets 20.4b) |
| C: 0.05 (EBIT TTM 952.6m / Avg Total Assets 20.1b) |
| D: 0.31 (Book Value of Equity 4.60b / Total Liabilities 14.9b) |
| Altman-Z'' = 1.64 = BB |
| DSRI: 0.51 (Receivables 304.4m/593.5m, Revenue 4.45b/4.41b) |
| GMI: 1.06 (GM 23.86% / 25.37%) |
| AQI: 0.96 (AQ_t 0.30 / AQ_t-1 0.31) |
| SGI: 1.01 (Revenue 4.45b / 4.41b) |
| TATA: -0.05 (NI 430.2m - CFO 1.37b) / TA 20.4b) |
| Beneish M = -3.44 (Cap -4..+1) = AA |
As of May 30, 2026, the stock is trading at EUR 72.05 with a total of 156,984 shares traded.
Over the past week, the price has changed by +6.19%,
over one month by +7.43%,
over three months by -12.19% and
over the past year by +21.13%.
Fraport has no consensus analysts rating.
P/E Trailing = 14.5601
P/E Forward = 17.4825
P/S = 1.3875
P/B = 1.1921
P/EG = 2.3312
Revenue TTM = 4.45b EUR
EBIT TTM = 952.6m EUR
EBITDA TTM = 1.52b EUR
Long Term Debt = 11.8b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 1.38b EUR (from shortTermDebt, last quarter)
Debt = 12.4b EUR (from shortLongTermDebtTotal, last quarter) + Leases 219.8m
Net Debt = 9.90b EUR (calculated: Debt 12.4b - CCE 2.52b)
Enterprise Value = 16.2b EUR (6.27b + Debt 12.4b - CCE 2.52b)
Interest Coverage Ratio = 2.71 (Ebit TTM 952.6m / Interest Expense TTM 350.9m)
EV/FCF = 48.65x (Enterprise Value 16.2b / FCF TTM 332.5m)
FCF Yield = 2.06% (FCF TTM 332.5m / Enterprise Value 16.2b)
FCF Margin = 7.48% (FCF TTM 332.5m / Revenue TTM 4.45b)
Net Margin = 9.68% (Net Income TTM 430.2m / Revenue TTM 4.45b)
Gross Margin = 23.86% ((Revenue TTM 4.45b - Cost of Revenue TTM 3.38b) / Revenue TTM)
Gross Margin QoQ = 10.54% (prev 16.79%)
Tobins Q-Ratio = 0.79 (Enterprise Value 16.2b / Total Assets 20.4b)
Interest Expense / Debt = 2.83% (Interest Expense 350.9m / Debt 12.4b)
Taxrate = 28.72% (188.6m / 656.7m)
NOPAT = 679.0m (EBIT 952.6m * (1 - 28.72%))
Current Ratio = 1.51 (Total Current Assets 3.63b / Total Current Liabilities 2.40b)
Debt / Equity = 2.39 (Debt 12.4b / totalStockholderEquity, last quarter 5.20b)
Debt / EBITDA = 6.52 (Net Debt 9.90b / EBITDA 1.52b)
Debt / FCF = 29.78 (Net Debt 9.90b / FCF TTM 332.5m)
Total Stockholder Equity = 5.09b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.14% (Net Income 430.2m / Total Assets 20.4b)
RoE = 8.46% (Net Income TTM 430.2m / Total Stockholder Equity 5.09b)
RoCE = 5.65% (EBIT 952.6m / Capital Employed (Equity 5.09b + L.T.Debt 11.8b))
RoIC = 3.87% (NOPAT 679.0m / Invested Capital 17.6b)
WACC = 3.53% (E(6.27b)/V(18.7b) * Re(6.52%) + D(12.4b)/V(18.7b) * Rd(2.83%) * (1-Tc(0.29)))
Discount Rate = 6.52% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 29.02 | Cagr: 0.04%
[DCF] Terminal Value 75.44% ; FCFF base≈332.5m ; Y1≈333.9m ; Y5≈353.7m
[DCF] Fair Price = N/A (negative equity: EV 5.50b - Net Debt 9.90b = -4.40b; debt exceeds intrinsic value)
EPS Correlation: 56.32 | EPS CAGR: 10.25% | SUE: 0.34 | # QB: 0
Revenue Correlation: 87.59 | Revenue CAGR: 6.48% | SUE: 0.16 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.88 | Chg30d=-9.17% | Revisions=-20% | Analysts=2
EPS next Quarter (2026-09-30): EPS=2.36 | Chg30d=+4.87% | Revisions=-20% | Analysts=2
EPS current Year (2026-12-31): EPS=3.66 | Chg30d=-2.08% | Revisions=-14% | GrowthEPS=-21.6% | GrowthRev=+3.2%
EPS next Year (2027-12-31): EPS=3.86 | Chg30d=-3.86% | Revisions=-33% | GrowthEPS=+5.4% | GrowthRev=+4.8%
[Analyst] Revisions Ratio: -33%