(LHA) Deutsche Lufthansa - Ratings and Ratios
Exchange: XETRA •
Country: Germany •
Currency: EUR •
Type: Common Stock •
ISIN: DE0008232125
Passenger, Air, Cargo, Maintenance, Training
Dividends
| Dividend Yield | 3.65% |
| Yield on Cost 5y | 4.59% |
| Yield CAGR 5y | % |
| Payout Consistency | 41.4% |
| Payout Ratio | 22.1% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 31.8% |
| Value at Risk 5%th | 50.4% |
| Relative Tail Risk | -3.62% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.79 |
| Alpha | 22.34 |
| CAGR/Max DD | 0.10 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.595 |
| Beta | 0.237 |
| Beta Downside | 0.471 |
| Drawdowns 3y | |
|---|---|
| Max DD | 47.23% |
| Mean DD | 28.57% |
| 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) 2.0
| 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 (12.44b) to EBITDA (2.58b) ratio: 4.83 <= 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 1.37 (EBITDA TTM 2.58b / Interest Expense TTM 513.0m) >= 6 (WARN >= 3) |
Altman Z'' 0.27
| (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) 0.01 = EBIT TTM 704.0m / Avg Total Assets 47.63b |
| (D) 0.17 = Book Value of Equity 6.20b / Total Liabilities 37.41b |
| Total Rating: 0.27 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 56.41
| 1. Piotroski 2.0pt |
| 2. FCF Yield 2.82% |
| 3. FCF Margin 1.63% |
| 4. Debt/Equity 1.25 |
| 5. Debt/Ebitda 4.83 |
| 6. ROIC - WACC (= 0.56)% |
| 7. RoE 15.05% |
| 8. Rev. Trend 63.63% |
| 9. EPS Trend 31.94% |
What is the price of LHA shares?
As of December 06, 2025, the stock is trading at EUR 8.21 with a total of 3,905,568 shares traded.
Over the past week, the price has changed by -0.75%, over one month by +6.16%, over three months by +8.57% and over the past year by +30.53%.
Over the past week, the price has changed by -0.75%, over one month by +6.16%, over three months by +8.57% and over the past year by +30.53%.
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 | 7.6 | -7.6% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 8.7 | 5.5% |
LHA Fundamental Data Overview November 27, 2025
Market Cap USD = 11.39b (9.76b EUR * 1.1666 EUR.USD)
Market Cap EUR = 9.76b (9.76b EUR * 1.0 EUR.EUR)
P/E Trailing = 5.9897
P/E Forward = 6.4433
P/S = 0.2481
P/B = 0.8505
P/EG = 1.113
Beta = 1.283
Revenue TTM = 39.09b EUR
EBIT TTM = 704.0m EUR
EBITDA TTM = 2.58b EUR
Long Term Debt = 9.04b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 2.82b EUR (from shortTermDebt, last fiscal year)
Debt = 14.23b EUR (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 12.44b EUR (from netDebt column, last fiscal year)
Enterprise Value = 22.62b EUR (9.76b + Debt 14.23b - CCE 1.37b)
Interest Coverage Ratio = 1.37 (Ebit TTM 704.0m / Interest Expense TTM 513.0m)
FCF Yield = 2.82% (FCF TTM 639.0m / Enterprise Value 22.62b)
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 = 0.46 (Enterprise Value 22.62b / Total Assets 48.83b)
Interest Expense / Debt = 0.86% (Interest Expense 123.0m / Debt 14.23b)
Taxrate = 27.00% (361.0m / 1.34b)
NOPAT = 513.9m (EBIT 704.0m * (1 - 27.00%))
Current Ratio = 0.85 (Total Current Assets 17.37b / Total Current Liabilities 20.45b)
Debt / Equity = 1.25 (Debt 14.23b / totalStockholderEquity, last quarter 11.36b)
Debt / EBITDA = 4.83 (Net Debt 12.44b / EBITDA 2.58b)
Debt / FCF = 19.47 (Net Debt 12.44b / 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 = 3.53% (EBIT 704.0m / Capital Employed (Equity 10.92b + L.T.Debt 9.04b))
RoIC = 3.74% (NOPAT 513.9m / Invested Capital 13.76b)
WACC = 3.18% (E(9.76b)/V(23.99b) * Re(6.89%) + D(14.23b)/V(23.99b) * Rd(0.86%) * (1-Tc(0.27)))
Discount Rate = 6.89% (= 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=-0.43 | Chg30d=N/A | Revisions Net=+0 | Analysts=1
EPS next Year (2026-12-31): EPS=1.25 | Chg30d=-0.066 | Revisions Net=+1 | Growth EPS=+16.1% | Growth Revenue=+4.5%
Market Cap EUR = 9.76b (9.76b EUR * 1.0 EUR.EUR)
P/E Trailing = 5.9897
P/E Forward = 6.4433
P/S = 0.2481
P/B = 0.8505
P/EG = 1.113
Beta = 1.283
Revenue TTM = 39.09b EUR
EBIT TTM = 704.0m EUR
EBITDA TTM = 2.58b EUR
Long Term Debt = 9.04b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 2.82b EUR (from shortTermDebt, last fiscal year)
Debt = 14.23b EUR (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 12.44b EUR (from netDebt column, last fiscal year)
Enterprise Value = 22.62b EUR (9.76b + Debt 14.23b - CCE 1.37b)
Interest Coverage Ratio = 1.37 (Ebit TTM 704.0m / Interest Expense TTM 513.0m)
FCF Yield = 2.82% (FCF TTM 639.0m / Enterprise Value 22.62b)
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 = 0.46 (Enterprise Value 22.62b / Total Assets 48.83b)
Interest Expense / Debt = 0.86% (Interest Expense 123.0m / Debt 14.23b)
Taxrate = 27.00% (361.0m / 1.34b)
NOPAT = 513.9m (EBIT 704.0m * (1 - 27.00%))
Current Ratio = 0.85 (Total Current Assets 17.37b / Total Current Liabilities 20.45b)
Debt / Equity = 1.25 (Debt 14.23b / totalStockholderEquity, last quarter 11.36b)
Debt / EBITDA = 4.83 (Net Debt 12.44b / EBITDA 2.58b)
Debt / FCF = 19.47 (Net Debt 12.44b / 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 = 3.53% (EBIT 704.0m / Capital Employed (Equity 10.92b + L.T.Debt 9.04b))
RoIC = 3.74% (NOPAT 513.9m / Invested Capital 13.76b)
WACC = 3.18% (E(9.76b)/V(23.99b) * Re(6.89%) + D(14.23b)/V(23.99b) * Rd(0.86%) * (1-Tc(0.27)))
Discount Rate = 6.89% (= 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=-0.43 | Chg30d=N/A | Revisions Net=+0 | Analysts=1
EPS next Year (2026-12-31): EPS=1.25 | Chg30d=-0.066 | Revisions Net=+1 | Growth EPS=+16.1% | Growth Revenue=+4.5%