Company Valuation: Fraport AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 5,468 3,515 5,059 5,405 6,463 5,895 - -
Change - -35.7% 43.92% 6.83% 19.57% -8.79% - -
Enterprise Value (EV) 1 12,739 11,856 14,403 15,084 14,653 14,434 14,128 13,885
Change - -6.93% 21.48% 4.73% -2.85% -1.5% -2.12% -1.72%
P/E 66.5x 26.6x 12.9x 12x 15x 20.1x 18x 14.4x
PBR 1.46x 0.9x 1.17x 1.12x 1.25x 1.08x 1.03x 0.97x
PEG - 0.4x 0x 0.8x -3.49x -0.6x 1.6x 0.6x
Capitalization / Revenue 2.55x 1.1x 1.26x 1.22x 1.46x 1.29x 1.23x 1.18x
EV / Revenue 5.94x 3.71x 3.6x 3.41x 3.31x 3.16x 2.95x 2.78x
EV / EBITDA 16.8x 11.5x 12x 11.6x 10.2x 9.89x 8.89x 8.22x
EV / EBIT 40.6x 21x 20.5x 19.6x 16.5x 18.8x 16.4x 14.6x
EV / FCF -16.5x -32.4x -21.6x -21.3x -3,408x 100x 37.2x 27.7x
FCF Yield -6.05% -3.09% -4.63% -4.7% -0.03% 1% 2.69% 3.62%
Dividend per Share 2 - - - - 1 1 1.751 2.825
Rate of return - - - - 1.43% 1.57% 2.75% 4.43%
EPS 2 0.89 1.43 4.26 4.88 4.67 3.173 3.539 4.44
Distribution rate - - - - 21.4% 31.5% 49.5% 63.6%
Net sales 1 2,143 3,194 4,000 4,427 4,432 4,567 4,783 5,004
EBITDA 1 757 1,030 1,204 1,302 1,437 1,459 1,589 1,689
EBIT 1 313.7 564.5 702.8 769.5 885.4 765.7 860 954.1
Net income 1 82.8 132.4 393.2 450.6 431.8 296.2 332.7 410.8
Net Debt 1 7,271 8,340 9,343 9,679 8,190 8,539 8,234 7,990
Reference price 2 59.18 38.05 54.76 58.50 69.95 63.75 63.75 63.75
Nbr of stocks (in thousands) 92,391 92,391 92,391 92,391 92,391 92,469 - -
Announcement Date 3/15/22 3/14/23 3/19/24 3/18/25 3/17/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
45.45x13.12x23.19x1.31% 26.81B
20.09x3.16x9.89x1.57% 6.75B
22.4x4.36x10.93x3.15% 5.07B
13.9x5.64x8.71x5.63% 4.97B
138x - - 0.36% 4.71B
17.62x6.45x10.72x5.68% 4.19B
25.53x2.47x9.78x6.09% 3.06B
24.62x1.5x4.81x1.98% 2.94B
Average 38.45x 5.24x 11.15x 3.22% 7.31B
Weighted average by Cap. 41.21x 8.59x 16.29x 2.39%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

-40%: Exceptional extension
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