Deutsche Lufthansa (DE:LHA)
XETRA:LHA
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Deutsche Lufthansa
(XETRA:LHA)
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Rating:58Neutral
Price Target:
€9.00
▲(11.52% Upside)
Action:Reiterated
Date:05/09/26
The score is primarily held back by financial performance quality: TTM operating profitability is slightly negative and free cash flow has turned negative again, despite solid operating cash flow and a post-2021 recovery in revenue and net income. Technicals add modest support with the stock above short-term moving averages and a positive MACD, while valuation is mixed due to a moderate dividend yield but a negative P/E.
Positive Factors
Diversified business model
Lufthansa's revenue mix spans passenger networks, air cargo, MRO and ground/catering services. This durable diversification reduces reliance on a single demand driver, smooths cash flow across cycles, and provides recurring contract revenue (MRO/services) that supports resilience over months.
Negative Factors
Negative free cash flow
Repeated negative free cash flow indicates that operating cash doesn't fully cover capex and working-capital needs. Over months this limits discretionary spending, increases reliance on external funding, and constrains the company's ability to rebuild cushions or invest without raising debt or cutting returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified business model
Lufthansa's revenue mix spans passenger networks, air cargo, MRO and ground/catering services. This durable diversification reduces reliance on a single demand driver, smooths cash flow across cycles, and provides recurring contract revenue (MRO/services) that supports resilience over months.
Read all positive factors
Deutsche Lufthansa (LHA) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€10.71B
Dividend Yield3.56%
Average Volume (3M)3.76M
Price to Earnings (P/E)6.8
Beta (1Y)1.27
Revenue Growth4.96%
EPS Growth26.60%
CountryDE
Employees102,574
SectorGeneral
Sector StrengthN/A
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)1.31
Shares Outstanding1,202,082,900
10 Day Avg. Volume3,200,762
30 Day Avg. Volume3,758,007
Financial Highlights & Ratios
PEG Ratio-2.89
Price to Book (P/B)0.87
Price to Sales (P/S)0.25
P/FCF Ratio-13.67
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€7.76Price Target Upside-3.84% Downside
Rating ConsensusHold
Number of Analyst Covering12
EPS Forecast (FY)0.94
Revenue Forecast (FY)€42.60B
Deutsche Lufthansa Business Overview & Revenue Model
Company Description
Deutsche Lufthansa AG is a prominent aviation group based in Germany, conducting operations worldwide. Its Network Airlines division is dedicated to offering passenger transportation services. The Eurowings segment also provides passenger flights,...
How the Company Makes Money
Lufthansa makes money through multiple business segments with revenue largely tied to air traffic demand, fleet utilization, and aviation service contracts. (1) Passenger airlines: The largest revenue stream is selling passenger tickets and relate...
Deutsche Lufthansa Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
58
Neutral
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 40.22B | 39.60B | 37.58B | 35.44B | 30.89B | 16.81B |
| Gross Profit | 5.23B | 3.77B | 3.73B | 4.28B | 3.10B | -1.09B |
| EBITDA | 5.15B | 4.73B | 4.39B | 5.05B | 3.83B | 9.00M |
| Net Income | 1.56B | 1.34B | 1.38B | 1.67B | 791.00M | -2.19B |
Balance Sheet | ||||||
| Total Assets | 50.70B | 49.42B | 48.16B | 46.16B | 44.26B | 43.49B |
| Cash, Cash Equivalents and Short-Term Investments | 7.70B | 8.15B | 8.49B | 8.27B | 8.30B | 7.67B |
| Total Debt | 13.02B | 14.55B | 14.23B | 13.95B | 15.17B | 16.69B |
| Total Liabilities | 38.30B | 37.71B | 36.56B | 36.45B | 35.78B | 39.00B |
| Stockholders Equity | 12.33B | 11.65B | 11.54B | 9.66B | 8.40B | 4.45B |
Cash Flow | ||||||
| Free Cash Flow | -390.00M | -737.00M | -6.00M | 659.00M | 2.66B | -700.00M |
| Operating Cash Flow | 4.32B | 3.74B | 3.89B | 4.71B | 5.17B | 618.00M |
| Investing Cash Flow | -1.88B | -3.51B | -2.33B | -2.94B | -3.44B | -3.02B |
| Financing Cash Flow | -3.07B | -850.00M | -1.45B | -2.07B | -2.27B | 2.87B |
Deutsche Lufthansa Technical Analysis
Positive
8.07
Price Trends
7.86
Positive
7.97
Positive
7.77
Positive
Market Momentum
0.23
Negative
66.54
Neutral
86.65
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:LHA, the sentiment is Positive. The current price of 8.07 is below the 20-day moving average (MA) of 8.33, above the 50-day MA of 7.86, and above the 200-day MA of 7.77, indicating a bullish trend. The MACD of 0.23 indicates Negative momentum. The RSI at 66.54 is Neutral, neither overbought nor oversold. The STOCH value of 86.65 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:LHA.
Deutsche Lufthansa Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | €17.45B | 17.60 | 26.38% | 0.62% | 18.24% | 60.48% | |
67 Neutral | €59.12B | 16.66 | 16.07% | 3.97% | -2.69% | 7.84% | |
58 Neutral | €10.71B | 6.84 | 13.67% | 3.56% | 4.96% | 26.60% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | €6.76B | 15.52 | 8.46% | ― | 0.92% | 2.89% | |
53 Neutral | €20.05B | 80.17 | 4.94% | 7.14% | -10.66% | -90.22% | |
52 Neutral | €3.29B | 11.84 | 14.31% | 3.86% | 6.71% | 17.83% |
* General Sector Average
DE:LHA
Deutsche Lufthansa
8.89
2.31
35.15%
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52.68
13.71
35.18%
DE:FRA
Fraport AG Frankfurt Airport Services Worldwide
72.20
12.87
21.69%
DE:HLAG
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113.00
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-16.47%
DE:MTX
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-8.74%
DE:SIX2
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75.60
0.35
0.47%
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.