AIR FRANCE-KLM (AFR0.DE) Fundamental Analysis & Valuation

FRA:AFR0 • FR001400J770

10.065 EUR
+0.06 (+0.65%)
Last: Mar 6, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This AFR0.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

AFR0 gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 14 industry peers in the Passenger Airlines industry. There are concerns on the financial health of AFR0 while its profitability can be described as average. AFR0 may be a bit undervalued, certainly considering the very reasonable score on growth


Dividend Valuation Growth Profitability Health

5

1. AFR0.DE Profitability Analysis

1.1 Basic Checks

  • AFR0 had positive earnings in the past year.
  • In the past year AFR0 had a positive cash flow from operations.
  • Of the past 5 years AFR0 4 years were profitable.
  • Each year in the past 5 years AFR0 had a positive operating cash flow.
AFR0.DE Yearly Net Income VS EBIT VS OCF VS FCFAFR0.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B 4B -4B -6B

1.2 Ratios

  • AFR0 has a Return On Assets of 2.46%. This is in the lower half of the industry: AFR0 underperforms 64.29% of its industry peers.
  • AFR0 has a Return On Equity of 1248.68%. This is amongst the best in the industry. AFR0 outperforms 100.00% of its industry peers.
  • AFR0 has a Return On Invested Capital of 6.48%. This is in the lower half of the industry: AFR0 underperforms 64.29% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for AFR0 is below the industry average of 9.03%.
  • The 3 year average ROIC (5.81%) for AFR0 is below the current ROIC(6.48%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 2.46%
ROE 1248.68%
ROIC 6.48%
ROA(3y)2.27%
ROA(5y)-0.52%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)5.81%
ROIC(5y)N/A
AFR0.DE Yearly ROA, ROE, ROICAFR0.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100 200 300 400 500

1.3 Margins

  • AFR0 has a Profit Margin of 2.90%. This is in the lower half of the industry: AFR0 underperforms 64.29% of its industry peers.
  • AFR0's Profit Margin has improved in the last couple of years.
  • AFR0 has a Operating Margin of 6.12%. This is comparable to the rest of the industry: AFR0 outperforms 50.00% of its industry peers.
  • AFR0's Operating Margin has improved in the last couple of years.
  • AFR0 has a Gross Margin of 45.30%. This is comparable to the rest of the industry: AFR0 outperforms 57.14% of its industry peers.
  • AFR0's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 6.12%
PM (TTM) 2.9%
GM 45.3%
OM growth 3Y16.08%
OM growth 5YN/A
PM growth 3Y27.5%
PM growth 5YN/A
GM growth 3Y2.43%
GM growth 5Y6.03%
AFR0.DE Yearly Profit, Operating, Gross MarginsAFR0.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40 -40 -60

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ROAROEROICOperating and Profit MarginShow most profitable peers

1

2. AFR0.DE Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), AFR0 is creating some value.
  • Compared to 1 year ago, AFR0 has about the same amount of shares outstanding.
  • The number of shares outstanding for AFR0 has been increased compared to 5 years ago.
  • The debt/assets ratio for AFR0 has been reduced compared to a year ago.
AFR0.DE Yearly Shares OutstandingAFR0.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M 250M
AFR0.DE Yearly Total Debt VS Total AssetsAFR0.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B

2.2 Solvency

  • AFR0 has an Altman-Z score of 0.54. This is a bad value and indicates that AFR0 is not financially healthy and even has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 0.54, AFR0 is doing worse than 71.43% of the companies in the same industry.
  • The Debt to FCF ratio of AFR0 is 17.97, which is on the high side as it means it would take AFR0, 17.97 years of fcf income to pay off all of its debts.
  • AFR0 has a Debt to FCF ratio of 17.97. This is in the lower half of the industry: AFR0 underperforms 78.57% of its industry peers.
  • AFR0 has a Debt/Equity ratio of 163.37. This is a high value indicating a heavy dependency on external financing.
  • The Debt to Equity ratio of AFR0 (163.37) is worse than 85.71% of its industry peers.
Industry RankSector Rank
Debt/Equity 163.37
Debt/FCF 17.97
Altman-Z 0.54
ROIC/WACC1.31
WACC4.96%
AFR0.DE Yearly LT Debt VS Equity VS FCFAFR0.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B -5B 10B 15B

2.3 Liquidity

  • AFR0 has a Current Ratio of 0.65. This is a bad value and indicates that AFR0 is not financially healthy enough and could expect problems in meeting its short term obligations.
  • AFR0's Current ratio of 0.65 is on the low side compared to the rest of the industry. AFR0 is outperformed by 64.29% of its industry peers.
  • A Quick Ratio of 0.60 indicates that AFR0 may have some problems paying its short term obligations.
  • With a Quick ratio value of 0.60, AFR0 is not doing good in the industry: 64.29% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.65
Quick Ratio 0.6
AFR0.DE Yearly Current Assets VS Current LiabilitesAFR0.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. AFR0.DE Growth Analysis

3.1 Past

  • AFR0 shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 411.40%, which is quite impressive.
  • The Earnings Per Share has been growing by 21.56% on average over the past years. This is a very strong growth
  • Looking at the last year, AFR0 shows a small growth in Revenue. The Revenue has grown by 4.92% in the last year.
  • AFR0 shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 24.38% yearly.
EPS 1Y (TTM)411.4%
EPS 3Y21.56%
EPS 5YN/A
EPS Q2Q%832.26%
Revenue 1Y (TTM)4.92%
Revenue growth 3Y7.74%
Revenue growth 5Y24.38%
Sales Q2Q%3.91%

3.2 Future

  • Based on estimates for the next years, AFR0 will show a decrease in Earnings Per Share. The EPS will decrease by -3.39% on average per year.
  • The Revenue is expected to grow by 3.24% on average over the next years.
EPS Next Y-30.13%
EPS Next 2Y-8.28%
EPS Next 3Y-2.44%
EPS Next 5Y-3.39%
Revenue Next Year4.53%
Revenue Next 2Y5.06%
Revenue Next 3Y3.43%
Revenue Next 5Y3.24%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
AFR0.DE Yearly Revenue VS EstimatesAFR0.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10B 20B 30B 40B
AFR0.DE Yearly EPS VS EstimatesAFR0.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 -20 -40 -60

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Find the best growth stocksShow best growing peers

7

4. AFR0.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • AFR0 is valuated cheaply with a Price/Earnings ratio of 1.73.
  • Compared to the rest of the industry, the Price/Earnings ratio of AFR0 indicates a rather cheap valuation: AFR0 is cheaper than 100.00% of the companies listed in the same industry.
  • AFR0's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.29.
  • The Price/Forward Earnings ratio is 2.47, which indicates a rather cheap valuation of AFR0.
  • Based on the Price/Forward Earnings ratio, AFR0 is valued cheaper than 100.00% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 24.57. AFR0 is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 1.73
Fwd PE 2.47
AFR0.DE Price Earnings VS Forward Price EarningsAFR0.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • AFR0's Enterprise Value to EBITDA is on the same level as the industry average.
  • Based on the Price/Free Cash Flow ratio, AFR0 is valued cheaper than 100.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF 3.18
EV/EBITDA 3.58
AFR0.DE Per share dataAFR0.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60 80 100

4.3 Compensation for Growth

  • A cheap valuation may be justified as AFR0's earnings are expected to decrease with -2.44% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-8.28%
EPS Next 3Y-2.44%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. AFR0.DE Dividend Analysis

5.1 Amount

  • AFR0 does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

More info and screens

Find the best dividend stocksShow peers with best dividend

AFR0.DE Fundamentals: All Metrics, Ratios and Statistics

AIR FRANCE-KLM

FRA:AFR0 (3/6/2026, 7:00:00 PM)

10.065

+0.06 (+0.65%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryPassenger Airlines
Earnings (Last)02-19
Earnings (Next)04-30
Inst Owners17.04%
Inst Owner ChangeN/A
Ins Owners0.03%
Ins Owner ChangeN/A
Market Cap2.64B
Revenue(TTM)33.01B
Net Income(TTM)949.00M
Analysts54.07
Price Target12.43 (23.5%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly Dividend0.01
Dividend Growth(5Y)N/A
DP0.11%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)60.25%
Min EPS beat(2)-9.17%
Max EPS beat(2)129.67%
EPS beat(4)3
Avg EPS beat(4)51.5%
Min EPS beat(4)-9.17%
Max EPS beat(4)129.67%
EPS beat(8)4
Avg EPS beat(8)9.32%
EPS beat(12)7
Avg EPS beat(12)93.85%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-3.78%
Min Revenue beat(2)-4.58%
Max Revenue beat(2)-2.99%
Revenue beat(4)0
Avg Revenue beat(4)-2.09%
Min Revenue beat(4)-4.58%
Max Revenue beat(4)-0.23%
Revenue beat(8)0
Avg Revenue beat(8)-2.46%
Revenue beat(12)1
Avg Revenue beat(12)-2.09%
Revenue beat(16)4
Avg Revenue beat(16)-1.15%
PT rev (1m)6.18%
PT rev (3m)3.51%
EPS NQ rev (1m)15.87%
EPS NQ rev (3m)139.22%
EPS NY rev (1m)0%
EPS NY rev (3m)-1.07%
Revenue NQ rev (1m)0.06%
Revenue NQ rev (3m)-0.7%
Revenue NY rev (1m)0.31%
Revenue NY rev (3m)0.09%
Valuation
Industry RankSector Rank
PE 1.73
Fwd PE 2.47
P/S 0.08
P/FCF 3.18
P/OCF 0.53
P/B 34.8
P/tB N/A
EV/EBITDA 3.58
EPS(TTM)5.83
EY57.92%
EPS(NY)4.07
Fwd EY40.47%
FCF(TTM)3.16
FCFY31.42%
OCF(TTM)18.91
OCFY187.88%
SpS124.44
BVpS0.29
TBVpS-5
PEG (NY)N/A
PEG (5Y)N/A
Graham Number6.16
Profitability
Industry RankSector Rank
ROA 2.46%
ROE 1248.68%
ROCE 9.2%
ROIC 6.48%
ROICexc 6.48%
ROICexgc 6.92%
OM 6.12%
PM (TTM) 2.9%
GM 45.3%
FCFM 2.54%
ROA(3y)2.27%
ROA(5y)-0.52%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)5.81%
ROIC(5y)N/A
ROICexc(3y)8.61%
ROICexc(5y)N/A
ROICexgc(3y)9.59%
ROICexgc(5y)N/A
ROCE(3y)8.32%
ROCE(5y)N/A
ROICexgc growth 3Y9.82%
ROICexgc growth 5YN/A
ROICexc growth 3Y11.1%
ROICexc growth 5YN/A
OM growth 3Y16.08%
OM growth 5YN/A
PM growth 3Y27.5%
PM growth 5YN/A
GM growth 3Y2.43%
GM growth 5Y6.03%
F-Score6
Asset Turnover0.85
Health
Industry RankSector Rank
Debt/Equity 163.37
Debt/FCF 17.97
Debt/EBITDA 2.53
Cap/Depr 142.84%
Cap/Sales 12.65%
Interest Coverage 2.96
Cash Conversion 101.43%
Profit Quality 87.57%
Current Ratio 0.65
Quick Ratio 0.6
Altman-Z 0.54
F-Score6
WACC4.96%
ROIC/WACC1.31
Cap/Depr(3y)143%
Cap/Depr(5y)128.92%
Cap/Sales(3y)12.39%
Cap/Sales(5y)12.76%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)411.4%
EPS 3Y21.56%
EPS 5YN/A
EPS Q2Q%832.26%
EPS Next Y-30.13%
EPS Next 2Y-8.28%
EPS Next 3Y-2.44%
EPS Next 5Y-3.39%
Revenue 1Y (TTM)4.92%
Revenue growth 3Y7.74%
Revenue growth 5Y24.38%
Sales Q2Q%3.91%
Revenue Next Year4.53%
Revenue Next 2Y5.06%
Revenue Next 3Y3.43%
Revenue Next 5Y3.24%
EBIT growth 1Y118.32%
EBIT growth 3Y25.06%
EBIT growth 5YN/A
EBIT Next Year179.84%
EBIT Next 3Y48.64%
EBIT Next 5Y26.7%
FCF growth 1Y142.75%
FCF growth 3Y-31.48%
FCF growth 5YN/A
OCF growth 1Y120.06%
OCF growth 3Y1.35%
OCF growth 5YN/A

AIR FRANCE-KLM / AFR0.DE FAQ

Can you provide the ChartMill fundamental rating for AIR FRANCE-KLM?

ChartMill assigns a fundamental rating of 4 / 10 to AFR0.DE.


What is the valuation status of AIR FRANCE-KLM (AFR0.DE) stock?

ChartMill assigns a valuation rating of 7 / 10 to AIR FRANCE-KLM (AFR0.DE). This can be considered as Undervalued.


How profitable is AIR FRANCE-KLM (AFR0.DE) stock?

AIR FRANCE-KLM (AFR0.DE) has a profitability rating of 5 / 10.


What is the financial health of AIR FRANCE-KLM (AFR0.DE) stock?

The financial health rating of AIR FRANCE-KLM (AFR0.DE) is 1 / 10.


Can you provide the expected EPS growth for AFR0 stock?

The Earnings per Share (EPS) of AIR FRANCE-KLM (AFR0.DE) is expected to decline by -30.13% in the next year.