AIR FRANCE-KLM(EPA:AF) stock Fundamental Analysis

Fundamental Rating

AF gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 12 industry peers in the Passenger Airlines industry. Both the profitability and financial health of AF have multiple concerns. AF is not valued too expensively and it also shows a decent growth rate.

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1. Profitability

1.1 Basic Checks

In the past year AF was profitable.

In the past year AF had a positive cash flow from operations.

The reported net income has been mixed in the past 5 years: AF reported negative net income in multiple years.

AF had a positive operating cash flow in 4 of the past 5 years.

1.2 Ratios

With a Return On Assets value of 0.59%, AF is not doing good in the industry: 83.33% of the companies in the same industry are doing better.

Looking at the Return On Invested Capital, with a value of 4.96%, AF is doing worse than 66.67% of the companies in the same industry.

		Industry Rank	Sector Rank
ROA	0.59%
ROE	N/A
ROIC	4.96%

ROA(3y)-2.38%

ROA(5y)-5.96%

ROE(3y)N/A

ROE(5y)N/A

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

With a Profit Margin value of 0.68%, AF is not doing good in the industry: 83.33% of the companies in the same industry are doing better.

AF's Profit Margin has improved in the last couple of years.

Looking at the Operating Margin, with a value of 3.45%, AF is doing worse than 83.33% of the companies in the same industry.

In the last couple of years the Operating Margin of AF has remained more or less at the same level.

AF has a Gross Margin (46.03%) which is in line with its industry peers.

AF's Gross Margin has declined in the last couple of years.

		Industry Rank	Sector Rank
OM	3.45%
PM (TTM)	0.68%
GM	46.03%

OM growth 3YN/A

OM growth 5Y-0.65%

PM growth 3YN/A

PM growth 5Y11.29%

GM growth 3Y8.53%

GM growth 5Y-1.71%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so AF is destroying value.

Compared to 1 year ago, AF has more shares outstanding

Compared to 5 years ago, AF has more shares outstanding

The debt/assets ratio for AF has been reduced compared to a year ago.

2.2 Solvency

AF has an Altman-Z score of 0.36. This is a bad value and indicates that AF is not financially healthy and even has some risk of bankruptcy.

AF has a Altman-Z score of 0.36. This is in the lower half of the industry: AF underperforms 75.00% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	N/A
Debt/FCF	N/A
Altman-Z	0.36

ROIC/WACC0.88

WACC5.63%

2.3 Liquidity

AF has a Current Ratio of 0.67. This is a bad value and indicates that AF is not financially healthy enough and could expect problems in meeting its short term obligations.

With a Current ratio value of 0.67, AF is not doing good in the industry: 75.00% of the companies in the same industry are doing better.

A Quick Ratio of 0.62 indicates that AF may have some problems paying its short term obligations.

AF has a worse Quick ratio (0.62) than 75.00% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	0.67
Quick Ratio	0.62

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

AF shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -83.89%.

The Earnings Per Share has been decreasing by -2.36% on average over the past years.

AF shows a small growth in Revenue. In the last year, the Revenue has grown by 4.20%.

Measured over the past years, AF shows a small growth in Revenue. The Revenue has been growing by 2.74% on average per year.

EPS 1Y (TTM)-83.89%

EPS 3YN/A

EPS 5Y-2.36%

EPS Q2Q%-26.08%

Revenue 1Y (TTM)4.2%

Revenue growth 3Y39.37%

Revenue growth 5Y2.74%

Sales Q2Q%3.7%

3.2 Future

The Earnings Per Share is expected to grow by 4.42% on average over the next years.

Based on estimates for the next years, AF will show a small growth in Revenue. The Revenue will grow by 3.96% on average per year.

EPS Next Y-54.13%

EPS Next 2Y-4.41%

EPS Next 3Y0.09%

EPS Next 5Y4.42%

Revenue Next Year4.27%

Revenue Next 2Y4.31%

Revenue Next 3Y4.32%

Revenue Next 5Y3.96%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.

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4. Valuation

4.1 Price/Earnings Ratio

AF is valuated cheaply with a Price/Earnings ratio of 7.68.

Based on the Price/Earnings ratio, AF is valued cheaper than 100.00% of the companies in the same industry.

AF's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.47.

AF is valuated cheaply with a Price/Forward Earnings ratio of 2.14.

Based on the Price/Forward Earnings ratio, AF is valued cheaply inside the industry as 100.00% of the companies are valued more expensively.

Compared to an average S&P500 Price/Forward Earnings ratio of 92.74, AF is valued rather cheaply.

		Industry Rank	Sector Rank
PE	7.68
Fwd PE	2.14

4.2 Price Multiples

AF's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. AF is cheaper than 75.00% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	2.21

4.3 Compensation for Growth

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y-4.41%

EPS Next 3Y0.09%

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5. Dividend

5.1 Amount

No dividends for AF!.

		Industry Rank	Sector Rank
Dividend Yield	N/A

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AIR FRANCE-KLM

EPA:AF (2/5/2025, 9:37:08 AM)

8.059

-0.06 (-0.75%)

Chartmill FA Rating

GICS SectorIndustrials

GICS IndustryGroupTransportation

GICS IndustryPassenger Airlines

Earnings (Last)11-07 2024-11-07/bmo

Earnings (Next)N/A N/A

Inst Owners8.78%

Inst Owner ChangeN/A

Ins Owners0.02%

Ins Owner ChangeN/A

Market Cap2.12B

Analysts70.77

Price Target9.97 (23.71%)

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector Rank
Dividend Yield	N/A

Yearly Dividend0.35

Dividend Growth(5Y)-5.03%

DP0%

Div Incr Years0

Div Non Decr Years0

Ex-DateN/A

Surprises & Revisions

EPS beat(2)0

Avg EPS beat(2)-81.51%

Min EPS beat(2)-91.85%

Max EPS beat(2)-71.16%

EPS beat(4)2

Avg EPS beat(4)-28.54%

Min EPS beat(4)-91.85%

Max EPS beat(4)44.76%

EPS beat(8)5

Avg EPS beat(8)144.21%

EPS beat(12)N/A

Avg EPS beat(12)N/A

EPS beat(16)N/A

Avg EPS beat(16)N/A

Revenue beat(2)0

Avg Revenue beat(2)-2.87%

Min Revenue beat(2)-3.43%

Max Revenue beat(2)-2.31%

Revenue beat(4)0

Avg Revenue beat(4)-3.41%

Min Revenue beat(4)-4.53%

Max Revenue beat(4)-2.31%

Revenue beat(8)2

Avg Revenue beat(8)-1.73%

Revenue beat(12)4

Avg Revenue beat(12)-0.8%

Revenue beat(16)6

Avg Revenue beat(16)-0.52%

PT rev (1m)-8.06%

PT rev (3m)-12.97%

EPS NQ rev (1m)24.34%

EPS NQ rev (3m)24.34%

EPS NY rev (1m)-26.09%

EPS NY rev (3m)-30.19%

Revenue NQ rev (1m)0.17%

Revenue NQ rev (3m)0.17%

Revenue NY rev (1m)0.6%

Revenue NY rev (3m)0.47%

Valuation

		Industry Rank	Sector Rank
PE	7.68
Fwd PE	2.14
P/S	0.07
P/FCF	N/A
P/OCF	1.1
P/B	N/A
P/tB	N/A
EV/EBITDA	2.21

EPS(TTM)1.05

EY13.03%

EPS(NY)3.76

Fwd EY46.69%

FCF(TTM)-8.73

FCFYN/A

OCF(TTM)7.34

OCFY91.09%

SpS116.71

BVpS-8.75

TBVpS-13.91

PEG (NY)N/A

PEG (5Y)N/A

Profitability

		Industry Rank	Sector Rank
ROA	0.59%
ROE	N/A
ROCE	5.79%
ROIC	4.96%
ROICexc	7.66%
ROICexgc	8.65%
OM	3.45%
PM (TTM)	0.68%
GM	46.03%
FCFM	N/A

ROA(3y)-2.38%

ROA(5y)-5.96%

ROE(3y)N/A

ROE(5y)N/A

ROIC(3y)N/A

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexcg growth 3YN/A

ROICexcg growth 5Y5.37%

ROICexc growth 3YN/A

ROICexc growth 5Y5.1%

OM growth 3YN/A

OM growth 5Y-0.65%

PM growth 3YN/A

PM growth 5Y11.29%

GM growth 3Y8.53%

GM growth 5Y-1.71%

F-Score5

Asset Turnover0.86

Health

		Industry Rank	Sector Rank
Debt/Equity	N/A
Debt/FCF	N/A
Debt/EBITDA	3
Cap/Depr	160.59%
Cap/Sales	13.77%
Interest Coverage	1.72
Cash Conversion	52.3%
Profit Quality	N/A
Current Ratio	0.67
Quick Ratio	0.62
Altman-Z	0.36

F-Score5

WACC5.63%

ROIC/WACC0.88

Cap/Depr(3y)119.28%

Cap/Depr(5y)108.83%

Cap/Sales(3y)12.82%

Cap/Sales(5y)13.96%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)-83.89%

EPS 3YN/A

EPS 5Y-2.36%

EPS Q2Q%-26.08%

EPS Next Y-54.13%

EPS Next 2Y-4.41%

EPS Next 3Y0.09%

EPS Next 5Y4.42%

Revenue 1Y (TTM)4.2%

Revenue growth 3Y39.37%

Revenue growth 5Y2.74%

Sales Q2Q%3.7%

Revenue Next Year4.27%

Revenue Next 2Y4.31%

Revenue Next 3Y4.32%

Revenue Next 5Y3.96%

EBIT growth 1Y-25.89%

EBIT growth 3YN/A

EBIT growth 5Y2.07%

EBIT Next Year134.9%

EBIT Next 3Y41.96%

EBIT Next 5Y26.16%

FCF growth 1Y-184.08%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y-63.51%

OCF growth 3YN/A

OCF growth 5Y-3.83%

AIR FRANCE-KLM (AF.PA) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

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