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DEUTSCHE LUFTHANSA-REG (LHA.DE) Stock Fundamental Analysis

Europe - Frankfurt Stock Exchange - FRA:LHA - DE0008232125 - Common Stock

8.778 EUR
-0.09 (-1.04%)
Last: 1/12/2026, 7:00:00 PM
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to LHA. LHA was compared to 18 industry peers in the Passenger Airlines industry. Both the profitability and financial health of LHA have multiple concerns. LHA has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

2

1. Profitability

1.1 Basic Checks

In the past year LHA was profitable.
LHA had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: LHA reported negative net income in multiple years.
LHA had a positive operating cash flow in 4 of the past 5 years.
LHA.DE Yearly Net Income VS EBIT VS OCF VS FCFLHA.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 0 2B -2B 4B -4B -6B

1.2 Ratios

LHA's Return On Assets of 3.36% is in line compared to the rest of the industry. LHA outperforms 50.00% of its industry peers.
Looking at the Return On Equity, with a value of 14.46%, LHA is doing worse than 61.11% of the companies in the same industry.
The Return On Invested Capital of LHA (4.55%) is worse than 66.67% of its industry peers.
LHA had an Average Return On Invested Capital over the past 3 years of 5.56%. This is below the industry average of 9.28%.
Industry RankSector Rank
ROA 3.36%
ROE 14.46%
ROIC 4.55%
ROA(3y)2.82%
ROA(5y)-2.75%
ROE(3y)12.9%
ROE(5y)-101.96%
ROIC(3y)5.56%
ROIC(5y)N/A
LHA.DE Yearly ROA, ROE, ROICLHA.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -100 -200 -300 -400

1.3 Margins

LHA has a Profit Margin of 4.20%. This is comparable to the rest of the industry: LHA outperforms 50.00% of its industry peers.
LHA's Profit Margin has improved in the last couple of years.
LHA's Operating Margin of 3.83% is on the low side compared to the rest of the industry. LHA is outperformed by 77.78% of its industry peers.
In the last couple of years the Operating Margin of LHA has declined.
Looking at the Gross Margin, with a value of 42.78%, LHA is doing worse than 72.22% of the companies in the same industry.
In the last couple of years the Gross Margin of LHA has declined.
Industry RankSector Rank
OM 3.83%
PM (TTM) 4.2%
GM 42.78%
OM growth 3YN/A
OM growth 5Y-2.51%
PM growth 3YN/A
PM growth 5Y1.97%
GM growth 3Y-3.25%
GM growth 5Y-1.97%
LHA.DE Yearly Profit, Operating, Gross MarginsLHA.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40

3

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so LHA is destroying value.
Compared to 1 year ago, LHA has about the same amount of shares outstanding.
The number of shares outstanding for LHA has been increased compared to 5 years ago.
The debt/assets ratio for LHA has been reduced compared to a year ago.
LHA.DE Yearly Shares OutstandingLHA.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
LHA.DE Yearly Total Debt VS Total AssetsLHA.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B

2.2 Solvency

Based on the Altman-Z score of 1.19, we must say that LHA is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of LHA (1.19) is comparable to the rest of the industry.
LHA has a debt to FCF ratio of 16.07. This is a negative value and a sign of low solvency as LHA would need 16.07 years to pay back of all of its debts.
LHA has a Debt to FCF ratio of 16.07. This is comparable to the rest of the industry: LHA outperforms 50.00% of its industry peers.
LHA has a Debt/Equity ratio of 1.06. This is a high value indicating a heavy dependency on external financing.
LHA's Debt to Equity ratio of 1.06 is fine compared to the rest of the industry. LHA outperforms 61.11% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.06
Debt/FCF 16.07
Altman-Z 1.19
ROIC/WACC0.57
WACC7.94%
LHA.DE Yearly LT Debt VS Equity VS FCFLHA.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B

2.3 Liquidity

A Current Ratio of 0.85 indicates that LHA may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.85, LHA belongs to the top of the industry, outperforming 83.33% of the companies in the same industry.
A Quick Ratio of 0.77 indicates that LHA may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.77, LHA belongs to the top of the industry, outperforming 83.33% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.85
Quick Ratio 0.77
LHA.DE Yearly Current Assets VS Current LiabilitesLHA.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

5

3. Growth

3.1 Past

LHA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 80.26%, which is quite impressive.
LHA shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -8.68% yearly.
LHA shows a small growth in Revenue. In the last year, the Revenue has grown by 5.95%.
The Revenue has been growing slightly by 0.63% on average over the past years.
EPS 1Y (TTM)80.26%
EPS 3YN/A
EPS 5Y-8.68%
EPS Q2Q%-11.96%
Revenue 1Y (TTM)5.95%
Revenue growth 3Y30.76%
Revenue growth 5Y0.63%
Sales Q2Q%4.29%

3.2 Future

Based on estimates for the next years, LHA will show a quite strong growth in Earnings Per Share. The EPS will grow by 11.57% on average per year.
LHA is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.07% yearly.
EPS Next Y-2.48%
EPS Next 2Y3.92%
EPS Next 3Y7.41%
EPS Next 5Y11.57%
Revenue Next Year6.14%
Revenue Next 2Y5.15%
Revenue Next 3Y4.88%
Revenue Next 5Y4.07%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
LHA.DE Yearly Revenue VS EstimatesLHA.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
LHA.DE Yearly EPS VS EstimatesLHA.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0 2 -2 -4 -6 -8

5

4. Valuation

4.1 Price/Earnings Ratio

LHA is valuated cheaply with a Price/Earnings ratio of 6.41.
83.33% of the companies in the same industry are more expensive than LHA, based on the Price/Earnings ratio.
LHA's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.25.
The Price/Forward Earnings ratio is 7.01, which indicates a rather cheap valuation of LHA.
Based on the Price/Forward Earnings ratio, LHA is valued a bit cheaper than the industry average as 77.78% of the companies are valued more expensively.
LHA is valuated cheaply when we compare the Price/Forward Earnings ratio to 23.98, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 6.41
Fwd PE 7.01
LHA.DE Price Earnings VS Forward Price EarningsLHA.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, LHA is valued cheaply inside the industry as 94.44% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, LHA is valued a bit more expensive than the industry average as 61.11% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF 11.7
EV/EBITDA 1.97
LHA.DE Per share dataLHA.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y3.92%
EPS Next 3Y7.41%

6

5. Dividend

5.1 Amount

LHA has a Yearly Dividend Yield of 3.31%.
LHA's Dividend Yield is rather good when compared to the industry average which is at 0.94. LHA pays more dividend than 94.44% of the companies in the same industry.
LHA's Dividend Yield is rather good when compared to the S&P500 average which is at 1.92.
Industry RankSector Rank
Dividend Yield 3.31%

5.2 History

The dividend of LHA decreases each year by -12.90%.
Dividend Growth(5Y)-12.9%
Div Incr Years0
Div Non Decr Years1
LHA.DE Yearly Dividends per shareLHA.DE Yearly Dividends per shareYearly Dividends per share 2019 2024 2025 0.2 0.4 0.6

5.3 Sustainability

22.15% of the earnings are spent on dividend by LHA. This is a low number and sustainable payout ratio.
DP22.15%
EPS Next 2Y3.92%
EPS Next 3Y7.41%
LHA.DE Yearly Income VS Free CF VS DividendLHA.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B -4B -6B
LHA.DE Dividend Payout.LHA.DE Dividend Payout, showing the Payout Ratio.LHA.DE Dividend Payout.PayoutRetained Earnings

DEUTSCHE LUFTHANSA-REG

FRA:LHA (1/12/2026, 7:00:00 PM)

8.778

-0.09 (-1.04%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryPassenger Airlines
Earnings (Last)10-30 2025-10-30/dmh
Earnings (Next)03-06 2026-03-06/amc
Inst Owners23.69%
Inst Owner ChangeN/A
Ins Owners15.03%
Ins Owner ChangeN/A
Market Cap10.53B
Revenue(TTM)39.09B
Net Income(TTM)1.64B
Analysts65.6
Price Target8.25 (-6.02%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.31%
Yearly Dividend0.31
Dividend Growth(5Y)-12.9%
DP22.15%
Div Incr Years0
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)45.12%
Min EPS beat(2)14.69%
Max EPS beat(2)75.55%
EPS beat(4)3
Avg EPS beat(4)41.74%
Min EPS beat(4)-48.52%
Max EPS beat(4)125.25%
EPS beat(8)4
Avg EPS beat(8)9.8%
EPS beat(12)7
Avg EPS beat(12)6.15%
EPS beat(16)9
Avg EPS beat(16)-10.06%
Revenue beat(2)0
Avg Revenue beat(2)-2.62%
Min Revenue beat(2)-3.6%
Max Revenue beat(2)-1.64%
Revenue beat(4)2
Avg Revenue beat(4)-1.06%
Min Revenue beat(4)-3.6%
Max Revenue beat(4)0.58%
Revenue beat(8)3
Avg Revenue beat(8)-1.26%
Revenue beat(12)3
Avg Revenue beat(12)-2.49%
Revenue beat(16)6
Avg Revenue beat(16)-1.49%
PT rev (1m)4.77%
PT rev (3m)3.61%
EPS NQ rev (1m)-6.33%
EPS NQ rev (3m)19.15%
EPS NY rev (1m)0.32%
EPS NY rev (3m)1.44%
Revenue NQ rev (1m)-0.21%
Revenue NQ rev (3m)0.75%
Revenue NY rev (1m)0.01%
Revenue NY rev (3m)0.37%
Valuation
Industry RankSector Rank
PE 6.41
Fwd PE 7.01
P/S 0.27
P/FCF 11.7
P/OCF 2.36
P/B 0.93
P/tB 1.05
EV/EBITDA 1.97
EPS(TTM)1.37
EY15.61%
EPS(NY)1.25
Fwd EY14.27%
FCF(TTM)0.75
FCFY8.55%
OCF(TTM)3.72
OCFY42.33%
SpS32.6
BVpS9.47
TBVpS8.37
PEG (NY)N/A
PEG (5Y)N/A
Graham Number17.09
Profitability
Industry RankSector Rank
ROA 3.36%
ROE 14.46%
ROCE 5.28%
ROIC 4.55%
ROICexc 6.8%
ROICexgc 7.31%
OM 3.83%
PM (TTM) 4.2%
GM 42.78%
FCFM 2.3%
ROA(3y)2.82%
ROA(5y)-2.75%
ROE(3y)12.9%
ROE(5y)-101.96%
ROIC(3y)5.56%
ROIC(5y)N/A
ROICexc(3y)8.18%
ROICexc(5y)N/A
ROICexgc(3y)8.86%
ROICexgc(5y)N/A
ROCE(3y)6.45%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5Y1.91%
ROICexc growth 3YN/A
ROICexc growth 5Y2.19%
OM growth 3YN/A
OM growth 5Y-2.51%
PM growth 3YN/A
PM growth 5Y1.97%
GM growth 3Y-3.25%
GM growth 5Y-1.97%
F-Score8
Asset Turnover0.8
Health
Industry RankSector Rank
Debt/Equity 1.06
Debt/FCF 16.07
Debt/EBITDA 3.07
Cap/Depr 146.7%
Cap/Sales 9.1%
Interest Coverage 1.76
Cash Conversion 113.59%
Profit Quality 54.78%
Current Ratio 0.85
Quick Ratio 0.77
Altman-Z 1.19
F-Score8
WACC7.94%
ROIC/WACC0.57
Cap/Depr(3y)134.14%
Cap/Depr(5y)97.69%
Cap/Sales(3y)9.13%
Cap/Sales(5y)8.88%
Profit Quality(3y)150.91%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)80.26%
EPS 3YN/A
EPS 5Y-8.68%
EPS Q2Q%-11.96%
EPS Next Y-2.48%
EPS Next 2Y3.92%
EPS Next 3Y7.41%
EPS Next 5Y11.57%
Revenue 1Y (TTM)5.95%
Revenue growth 3Y30.76%
Revenue growth 5Y0.63%
Sales Q2Q%4.29%
Revenue Next Year6.14%
Revenue Next 2Y5.15%
Revenue Next 3Y4.88%
Revenue Next 5Y4.07%
EBIT growth 1Y12.2%
EBIT growth 3YN/A
EBIT growth 5Y-1.9%
EBIT Next Year170.56%
EBIT Next 3Y47.24%
EBIT Next 5Y30.12%
FCF growth 1Y-26.35%
FCF growth 3YN/A
FCF growth 5Y-14.95%
OCF growth 1Y7.12%
OCF growth 3Y113.67%
OCF growth 5Y-0.62%

DEUTSCHE LUFTHANSA-REG / LHA.DE FAQ

What is the fundamental rating for LHA stock?

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


What is the valuation status of DEUTSCHE LUFTHANSA-REG (LHA.DE) stock?

ChartMill assigns a valuation rating of 5 / 10 to DEUTSCHE LUFTHANSA-REG (LHA.DE). This can be considered as Fairly Valued.


Can you provide the profitability details for DEUTSCHE LUFTHANSA-REG?

DEUTSCHE LUFTHANSA-REG (LHA.DE) has a profitability rating of 2 / 10.


How financially healthy is DEUTSCHE LUFTHANSA-REG?

The financial health rating of DEUTSCHE LUFTHANSA-REG (LHA.DE) is 3 / 10.


Can you provide the expected EPS growth for LHA stock?

The Earnings per Share (EPS) of DEUTSCHE LUFTHANSA-REG (LHA.DE) is expected to decline by -2.48% in the next year.