lastminute.com NV (CH:LMN)
:LMN
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lastminute
(LMN)
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Rating:66Neutral
Price Target:
CHF12.50
▼(-19.35% Downside)
Action:ReiteratedDate:02/18/26
The score is driven primarily by improving financial performance (strong 2025 revenue rebound and continued profitability), tempered by modest and declining margins plus uneven free cash flow conversion/consistency. Technicals are mildly supportive with price above key moving averages and neutral momentum, while valuation is reasonable with a moderate P/E and a 2.6% dividend yield.
Positive Factors
Revenue rebound & sustained profitability
A sharp 2025 revenue rebound with consecutive profitable years shows durable demand recovery and core business viability. Higher scale supports fixed-cost absorption and platform leverage, giving management runway to reinvest in product, distribution and customer acquisition over the next several quarters.
Negative Factors
Modest and declining margins
Thin and worsening margins constrain the amount of profit captured from revenue growth, limiting internal funding for expansion and making results sensitive to supplier pricing, higher distribution costs, or promotional activity. Structural margin pressure reduces durable earnings power.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound & sustained profitability
A sharp 2025 revenue rebound with consecutive profitable years shows durable demand recovery and core business viability. Higher scale supports fixed-cost absorption and platform leverage, giving management runway to reinvest in product, distribution and customer acquisition over the next several quarters.
Read all positive factors
lastminute (LMN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF130.04M
Dividend Yield3.03%
Average Volume (3M)3.65K
Price to Earnings (P/E)19.4
Beta (1Y)0.67
Revenue Growth13.71%
EPS Growth-27.23%
CountryCH
Employees1,639
SectorConsumer Cyclical
Sector Strength84
IndustryTravel Services
Share Statistics
EPS (TTM)0.30
Shares Outstanding11,664,219
10 Day Avg. Volume2,762
30 Day Avg. Volume3,645
Financial Highlights & Ratios
PEG Ratio-0.50
Price to Book (P/B)2.61
Price to Sales (P/S)0.41
P/FCF Ratio4.89
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF21.00Price Target Upside35.48% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)2.2
Revenue Forecast (FY)CHF387.73M
lastminute Business Overview & Revenue Model
Company Description
lastminute.com N.V. operates in the online travel industry in Italy, Spain, the United Kingdom, France, Germany, and internationally. It operates through Online Travel Agency (OTA), Meta-search, Media, and Other segments. The company provides mobi...
How the Company Makes Money
lastminute makes money primarily by acting as an intermediary in travel transactions and earning revenue tied to customer bookings. Key revenue streams typically include: (1) Commissions/merchant margin on accommodation and travel bookings: when a...
lastminute Earnings Call Summary
Earnings Call Date:Apr 02, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call presents a strongly positive operational and financial picture: double-digit revenue growth, outsized adjusted EBITDA expansion, a doubling of adjusted EBITDA minus CapEx, materially improved free cash flow and a stronger balance sheet with short-term debt repaid. Management balanced growth with disciplined cost control, launched customer-facing initiatives (PRO loyalty, app) and invested in AI/infrastructure to defend distribution as search paradigms evolve. The main negatives were one-off reorganization charges (~EUR 8m) that slightly reduced net profit, higher near-term marketing spend (to capture share) and the discontinuation of the cruise business. These drawbacks appear manageable and largely non-recurring, while the core business momentum and cash-generation improvements are substantial.Positive Updates
Strong Top-Line Growth
Full-year revenues of EUR 361 million, up 15% year-over-year; Q4 revenues EUR 77 million, up 23% year-over-year and the strongest quarter of the year despite seasonality.
Negative Updates
Net Result Slightly Below Prior Year
Full-year net result EUR 11.6 million, slightly below last year, primarily reflecting one-off costs related to reorganization and cost reduction measures.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Top-Line Growth
Full-year revenues of EUR 361 million, up 15% year-over-year; Q4 revenues EUR 77 million, up 23% year-over-year and the strongest quarter of the year despite seasonality.
Read all positive updates
Company Guidance
Management guided 2026 to continued market‑outperformance with revenues expected to grow ~10% and adjusted EBITDA targeted to grow broadly in line with revenues (building on 2025 adjusted EBITDA of €55m), while reported EBITDA should rise by more given that 2025 included ~€8m of one‑off charges that are not expected to repeat. They expect no increase in CapEx (CapEx at a plateau vs 2025), which—combined with revenue growth and favourable working‑capital dynamics—should drive materially higher cash generation than 2025 (2025 adjusted EBITDA‑minus‑CapEx doubled to €32.4m from €16.2m; full‑year free cash flow was €27m vs –€4.7m in 2024; FCF/EBITDA conversion improved to 58%). Management also expects net profit to be higher in 2026 (no recurring one‑offs), will continue debt reduction (net financial position ~€32m vs €19m end‑2024 and all short‑term debt repaid), maintain a dividend policy (Board to propose a 2025 dividend), and materially increase brand investment while preserving capital discipline.lastminute Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
64
Positive
Cash Flow
58
Neutral
| Breakdown | Mar 2026 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 361.31M | 313.70M | 317.14M | 294.36M | 142.61M |
| Gross Profit | 96.59M | 130.90M | 235.65M | 206.37M | 88.69M |
| EBITDA | 41.19M | 43.20M | 31.02M | 2.89M | 1.69M |
| Net Income | 11.53M | 15.70M | 6.96M | -15.14M | -9.57M |
Balance Sheet | |||||
| Total Assets | 481.20M | 456.75M | 466.83M | 487.74M | 407.13M |
| Cash, Cash Equivalents and Short-Term Investments | 69.30M | 43.20M | 108.40M | 126.40M | 115.23M |
| Total Debt | 15.00M | 5.50M | 16.42M | 14.36M | 6.96M |
| Total Liabilities | 424.30M | 405.98M | 423.50M | 475.77M | 344.07M |
| Stockholders Equity | 56.90M | 14.70M | 42.74M | 11.39M | 62.51M |
Cash Flow | |||||
| Free Cash Flow | 30.40M | -700.00K | -38.50M | 54.31M | 149.00K |
| Operating Cash Flow | 52.90M | 24.40M | -15.35M | 73.08M | 7.62M |
| Investing Cash Flow | -19.10M | -37.30M | -16.82M | -30.12M | -15.59M |
| Financing Cash Flow | -30.10M | -43.90M | 13.14M | -33.01M | -20.34M |
lastminute Technical Analysis
Neutral
15.50
Price Trends
13.00
Positive
13.19
Negative
14.18
Negative
Market Momentum
-0.01
Negative
59.90
Neutral
88.66
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:LMN, the sentiment is Neutral. The current price of 15.5 is above the 20-day moving average (MA) of 11.99, above the 50-day MA of 13.00, and above the 200-day MA of 14.18, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 59.90 is Neutral, neither overbought nor oversold. The STOCH value of 88.66 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CH:LMN.
lastminute Peers Comparison
UnderperformOutperform
Sector (61)
CH:LMN
lastminute
11.80
-0.46
-3.79%
CH:ASWN
ASMALLWORLD AG
0.62
-0.55
-47.01%
CH:YTME
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0.45
-0.29
-39.46%
lastminute Corporate Events
Lastminute.com Schedules Q1 2026 Results Call for Investors and Media
Apr 29, 2026
Lastminute.com has scheduled an investor and media conference call on 6 May 2026 to present and discuss its first-quarter 2026 financial results. The audio webcast, led by CEO Alessandro Petazzi and CFO Diego Fiorentini, will include a QA session ...
Lastminute.com Confirms Strong 2025 Results and Holds Dividend as It Advances Loyalty and AI Strategy
Apr 2, 2026
Lastminute.com reported audited full-year 2025 results that confirmed strong operational and financial performance, with revenues and adjusted EBITDA exceeding guidance on the back of resilient leisure travel demand. Despite a lower reported net p...
Lastminute.com Sets 2 April Call to Present FY 2025 Results
Mar 26, 2026
Lastminute.com has scheduled an investor and media conference call on 2 April 2026 to present its full-year 2025 financial results, underscoring its ongoing engagement with shareholders and analysts. The event will feature CEO Alessandro Petazzi a...
Lastminute.com Beats 2025 Targets and Sets AI-Focused Growth Path for 2026
Feb 12, 2026
Lastminute.com, a European travel-tech group focused on dynamic holiday packages, reported its strongest year-on-year Q4 growth in 2025 and closed the year above upgraded guidance, with rising revenues, higher adjusted EBITDA and robust cash gener...
lastminute.com Sets Date to Present Preliminary Q4 and FY 2025 Results
Feb 5, 2026
lastminute.com has scheduled an investor and media conference call for 12 February 2026 to present its unaudited preliminary financial results for the fourth quarter and full year 2025. The English-language audio webcast, led by CEO Alessandro Pet...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.