Flughafen Zürich FHZN.SW
SwitzerlandIndustrials · Airports & Air ServicesSIX Swiss Exchange · CHF
244.24 CHF (+28.4%)
17 analysts
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Flughafen Zürich operates Zurich Airport, Switzerland's main aviation hub, generating revenue from airport charges, aviation services, and commercial and real estate activities within its premises.
Listed on SIX Swiss Exchange · Symbol FHZN.SW · SWX: FHZN · Currency CHF
Key points
from its scores- ✓Favourable backdrop7.6
- ✓Very solid balance sheet7.2
- ✕Poor share-price trend2.3
- !Average business quality5.1
- !Moderate growth5.2
AI analysis
bottom line, main risk, context and newsFundamentals are stable and valuation is reasonable, but the lack of growth catalysts and weak momentum suggest waiting for a better entry signal.
Flughafen Zürich shows solid financial health (score 7.2) with an operating margin of 32.48% and a moderately leveraged balance sheet (ND/EBITDA of 1.97), but its growth is slow (earnings +1.5%) and free cash flow conversion is weak (12.68%), which weighs on its quality. The stock trades at the 1st percentile of its 52-week range, suggesting the market has already priced in negative expectations, offering a reasonable valuation (P/E 17.28) and an attractive dividend yield of 3.58%.
The main risk is dependence on international air traffic and tariff regulation, which could limit revenue growth and pressure margins if traffic slows down.
Context and risks
Flughafen Zürich operates in Switzerland, a country with solid institutions and minority shareholder protection, but the airport sector is subject to active regulatory oversight on tariffs and slots. The stock's position at the 1st percentile of its 52-week range reflects market pressure not explained by fundamentals, suggesting a sentiment or regulatory risk not captured by the metrics.
Is Flughafen Zürich stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 33% below the Industrials median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 17.3 | 25.4 | −32% |
| EV / EBITDA | 9.5 | 14.5 | −35% |
| Price / book | 1.9 | 4.1 | −53% |
| Price / sales | 4.2 | 2.1 | +103% |
Sector: median of the 388 Industrials companies analysed. In bold, the multiples used for the comparison.
Valuation score: 5.7 out of 10 (median for Industrials: 5.0).
Average analyst target: 244.24 CHF, +28.4% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 7.2 (sector 6.4), Growth 5.2 (sector 6.6).
Classic formulas with standard assumptions (0.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Industrials medianValuation
- P/E
- 17.3
- Forward P/E
- 20.2
- EV / EBITDA
- 9.5
- Price / book
- 1.9
- Price / sales
- 4.2
- PEG
- 7.80
- Market cap
- 5.8B CHF
- Enterprise value
- 7.4B CHF
Profitability
- ROE
- 11.7%
- ROA
- 5.4%
- ROIC (approx.)
- 9.4%
- Gross margin
- 65.1%
- Operating margin
- 32.5%
- Net margin
- 25.0%
- Free cash flow
- 98.4M CHF
- FCF yield
- 1.7%
- Cash conversion
- 13%
Solvency
- Total debt
- 1.8B CHF
- Net debt
- 1.5B CHF
- Cash
- 267.1M CHF
- EBITDA
- 776.2M CHF
- Net debt / EBITDA
- 1.97
- Debt / equity
- 58.98
- Current ratio
- 1.52
- Quick ratio
- 1.39
Growth
- Revenue growth
- +5.1%
- Earnings growth
- +1.5%
- EPS (TTM)
- 11.01 CHF
- EPS (forward)
- 9.41 CHF
Dividend
- Dividend yield
- 4.5%
- Payout
- 74.8%
Risk and market
- Beta
- 0.58
- Analyst consensus
- Buy (17)
- Target price
- 244.24 CHF
- 52-week range
- 189.80 – 266.60
Recent news
All FHZN.SW news →Compare it with its sector
All 388 in Industrials →Frequently asked questions about Flughafen Zürich
Is Flughafen Zürich stock cheap or expensive?
On P/E and EV / EBITDA, it trades 33% below the Industrials median on average. Valuation score: 5.7 out of 10 (median for Industrials: 5.0). Average analyst target: 244.24 CHF, +28.4% versus the price. This is not investment advice.
What score does Flughafen Zürich get on MeridIAn Screener?
It scores 5.8 out of 10, rank 1,151 of 2,130 (better than 43% of the companies analysed). Its strongest category is Risk & Context (7.6) and its weakest, Momentum (2.3). Analysis of 08/10/2026.
What is Flughafen Zürich's P/E ratio?
Its P/E is 17.3: the share price equals 17.3 times earnings per share over the last 12 months. The Industrials median is 25.4. Based on the earnings analysts expect, the forward P/E is 20.2.
How much is Flughafen Zürich worth on the stock market?
Its market capitalisation is 5.8B CHF and its enterprise value, debt included, is 7.4B CHF.
How much debt does Flughafen Zürich have?
Its net debt (debt minus cash) is 1.5B CHF. That is 1.97 times its EBITDA; the Industrials median is 1.58.
Does Flughafen Zürich pay a dividend?
Yes: its dividend yield is 4.47% and it pays out 75% of its earnings.
How has Flughafen Zürich stock performed over the last year?
It has fallen 19.9% over the last year, excluding dividends. Over the last 52 weeks it has traded between 189.80 and 266.60 CHF. Past performance does not guarantee future results.
What do analysts think of Flughafen Zürich?
17 analysts cover it; their average recommendation is “Buy” and their average target is 244.24 CHF (+28.4% versus the price). It is an estimate, not market data.