Deutsche Lufthansa LHA.DE
Deutsche Lufthansa AG is a European airline group operating passenger and cargo transport, with brands such as Lufthansa, Swiss, Austrian and Brussels Airlines, as well as maintenance (Lufthansa Technik) and logistics businesses. Lufthansa trades at a P/E of 13.65 and an EV/EBITDA of 5.02, reflecting market pessimism, but its financial health is fragile: negative operating margin (-1.52%), ROIC of -2.31%, and very poor cash conversion (-111.21%). The sharp rise in crude oil (+12 USD) adds pressure on fuel, a critical cost for its business.
Detailed metrics
Market and fundamental data as of the analysis date.
Full AI report
Generated automatically from the metrics, the macro context and the company's news.
Deutsche Lufthansa AG is a European airline group operating passenger and cargo transport, with brands such as Lufthansa, Swiss, Austrian and Brussels Airlines, as well as maintenance (Lufthansa Technik) and logistics businesses. Lufthansa trades at a P/E of 13.65 and an EV/EBITDA of 5.02, reflecting market pessimism, but its financial health is fragile: negative operating margin (-1.52%), ROIC of -2.31%, and very poor cash conversion (-111.21%). The sharp rise in crude oil (+12 USD) adds pressure on fuel, a critical cost for its business.
Score by category
| Category | Score |
|---|---|
| Financial health | 4.1 |
| Quality / Moat | 1.5 |
| Valuation | 7.2 |
| Growth | 3.3 |
| Dividend | 7.9 |
| Momentum | 5.8 |
| Risk & Context | 5.7 |
OVERALL SCORE: 4.8/10
Context and risks
The sharp rise in crude oil is a direct cost factor for aviation fuel, compressing an already negative operating margin. Additionally, the escalation in the Strait of Hormuz and attacks on tankers raise route risk and insurance costs, a specific risk for airlines.
News considered in the analysis
- 3 Airline Stocks Facing Higher Aviation Insurance Costs After The Moscow Drone Strike — El aumento de los costes de seguro de aviación es un riesgo real para el margen operativo, ya de por sí negativo, pero el impacto es moderado y parcialmente descontado.
- Lufthansa to buy cargo terminal operator in Germany — La adquisición de un operador de terminal de carga refuerza su negocio de logística y podría generar sinergias, un movimiento estratégico positivo pero de magnitud moderada.
- Portugal extends talks to privatise national carrier TAP — La extensión de las conversaciones para privatizar TAP es un desarrollo especulativo; el impacto en Lufthansa depende de si finalmente presenta una oferta y gana, algo incierto.
- TAP privatisation: Portuguese government opens talks with Air France-KLM and Lufthansa — Ser considerado para la privatización de TAP podría ampliar su red en el Atlántico Sur, pero es una oportunidad con baja probabilidad de materializarse y aún no descontada.
- Does Hidden Value In Lufthansa Technik And Delvag Strengthen Deutsche Lufthansa’s Risk Profile (XTRA:LHA)? — Artículo de análisis sin información nueva; el valor de las filiales ya es conocido por el mercado.
Verdict: Hold; valuation is attractive but weak fundamentals and a challenging cost environment (oil, insurance) offer no clear short-term catalyst.
Main risk: The main risk is the combination of a negative operating margin (-1.52%) with high exposure to fuel prices, which the surge in crude oil (+12 USD) directly exacerbates, potentially prolonging losses and further straining its balance sheet (Net Debt/EBITDA 2.11).
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