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Ryanair Holdings PLC

RYAAY Industrials Airlines

Ryanair Holdings PLC’s revenue for fiscal 2026 (year ended March 2026) was $18.0 billion, up 20.3% from fiscal 2025.

Revenue
+2.39%
EPS
−62.3%
Free cash flow
−150.2%
Total debt
−67.9%

Quarter to September 2026, against a year earlier

59.30 0.77 +1.32%
Market cap
$30.3B
P/E
14.3×
Fwd P/E
—
Dividend yield
0.00%
F-score
9/9
Altman Z
3.25
Beneish M
−3.05
Dividend safety
70/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 3.56
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — 10 1 — — — — 1
Insider Ownership 0.15%

Capital & Financial Ratios $m

Size
Market Cap 30,310.00
Revenue ttm 18,354.46
Net income ttm 2,025.34
Free cash flow ttm 1,734.01
Net debt Q (4,390.37)
Valuation
P/E 14.30
Forward P/E —
Price / sales 1.65
Forward P/S Powerpack
Price / FCF 17.46
Price / book 2.26
Financial health
Current ratio Q 1.17
Debt / equity Q 0.04 (at or below 0.5: strong)
Interest coverage Q 124.57
Growth
Revenue growth Q +2.39% (above 0%: growing)
Operating income growth Q −7.97% (below 0%: shrinking)
EPS, this year −21.13% (below 0%: weak)
EPS, next year A −10.53% (below 0%: weak)
Revenue, next year A —
EPS, past 5 yrs —
EPS, next 5 yrs A +3.91%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.5×, against a ten-year median of 2.1×; over the ten years it ranged from 0.6× in 2022 to 14.9× in 2021.
P/E against its own 10 years 52.95%
10-year low 10-year high
P/S against its own 10 years 26.44%
10-year low 10-year high
P/B against its own 10 years 19.77%
10-year low 10-year high
EV/Sales against its own 10 years 24.13%
10-year low 10-year high
EV/FCF against its own 10 years 44.68%
10-year low 10-year high

Dividends

Yield
0.00%
Annual rate
0.00
Payout ratio
0.00%
Growth, 2024–25
+3.45%/yr
  1. 0.96 ’24
  2. 1.00 ’25 +3
paid change on the year, %

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 4,837 4,283 6,624 4,895
Receivables 83 79 51 79
Inventory 7 5 6 5
Other 1,380 2,090 2,302 2,687
6,307 6,456 8,983 7,666
2024 2025 2026 Q'26
Payables 857 754 707 866
ST’ Debt 54 911 1,390 —
Other 243 299 235 87
6,927 8,759 9,943 6,557

Compound Annual Growth %

10y 5y 3y
Sales 9.59% 56.66% 17.12%
Cash Flow 7.71% 0.00% 1.88%
Earnings 3.89% 0.00% 22.60%
Book Value 11.42% 16.64% 25.86%

Earnings Trends EPS, adjusted, against the consensus

Sep 2026 Estimate 3.49 Actual 3.54

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Dec 2025 0.15 0.26 Beat by 0.11
Mar 2026 −0.95 −0.86 Beat by 0.09
Jun 2026 1.25 1.19 Miss by 0.06
Sep 2026 3.49 3.54 Beat by 0.05
Dec 2026 −0.11 — Reports 25 January 2027

EPS $

Jun Sep Dec Mar Year
’26 1.19 3.54 — — —
’26 4.35 9.40 0.17 (0.86) 4.74
’25 0.68 7.06 0.72 (0.64) 3.12
’24 1.26 2.88 0.03 (0.52) 3.64
’23 0.35 0.92 0.36 (0.14) 2.40
’22 (0.58) 0.46 (0.19) (0.19) (0.50)
’21 (0.37) (0.48) (0.68) (0.61) (2.14)
Fiscal quarters ending in the months shown.

Revenue $m

Jun Sep Dec Mar Year
’26 5,097 6,558 — — —
’26 4,924 6,405 3,742 2,957 18,028
’25 3,905 5,570 3,155 2,354 14,985
’24 3,979 5,361 2,906 2,303 14,550
’23 2,769 3,898 2,360 2,008 11,221
’22 446 2,104 1,681 1,349 5,581
’21 138 1,229 407 137 1,911
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jun Sep Dec Mar Year
’26 1,399 (10) — — —
’26 1,655 424 (93) 2,299 4,285
’25 1,213 86 (132) 2,502 3,669
’24 1,365 421 (401) 2,033 3,418
’23 1,501 268 (14) 2,361 4,052
’22 716 510 (189) 1,219 2,256
’21 (382) (971) (1,097) (409) (2,859)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jun Sep Dec Mar Year
’26 847 (426) — — —
’26 948 (170) (465) 1,777 2,091
’25 673 (352) (319) 1,999 2,002
’24 205 (145) (758) 1,527 829
’23 1,058 (190) (405) 2,361 2,063
’22 617 275 (672) 790 1,011
’21 (534) (653) (1,128) (758) (3,073)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Sep ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 7,295 8,372 8,914 9,445 1,911 5,581 11,221 14,550 14,985 18,028 18,354 +10.6% — — — —
Gross margin, % 58.21 60.27 54.68 54.06 49.27 47.66 51.13 50.71 50.51 53.80 51.54 (4.4) pt
EBT 1,614 1,887 1,098 745 (1,295) (500) 1,502 2,303 1,917 2,811 2,260 +6.4%
EBT margin, % 22.12 22.53 12.32 7.89 (67.78) (8.95) 13.39 15.83 12.79 15.59 12.32 (6.5) pt
Net income 1,444 1,698 1,025 721 (1,186) (280) 1,368 2,075 1,731 2,521 2,025 +6.4%
Per share, $
Per share, $ Revenue 11.68 14.03 15.59 16.96 3.44 9.87 19.74 25.54 27.21 34.16 35.39 +12.7%
Earnings 2.31 2.84 1.79 1.30 (2.14) (0.50) 2.41 3.65 3.14 4.78 4.08 +8.4%
Cash flow 3.38 4.38 4.09 3.88 (5.15) 3.99 7.13 6.00 6.66 8.12 6.93 +10.2%
Capex (2.55) (2.89) (3.13) (2.39) (0.38) (2.20) (3.50) (4.54) (3.03) (4.16) (3.59) +5.6%
Free cash flow 0.84 1.50 0.95 1.49 (5.53) 1.79 3.63 1.46 3.63 3.96 3.34 +18.8%
Book value 7.77 8.77 10.56 9.81 9.78 11.40 10.34 14.47 13.73 22.20 25.78 +12.4%
Shares, m 625 597 572 557 555 565 568 570 551 528 444 (1.9%)
Valuation, ×
Valuation, × P/E 12.71 17.14 16.50 16.24 0.00 0.00 25.20 15.99 5.39 4.39 14.30 11.4
P/S 2.84 3.43 1.93 1.25 13.37 3.53 0.78 2.29 1.52 1.69 1.65 3.3
P/B 4.27 5.48 2.84 2.16 4.71 3.06 1.40 4.05 3.01 2.60 2.26 3.4
EV/Sales 2.84 3.44 1.94 1.27 14.65 3.80 0.72 2.15 1.41 1.41 1.49 3.4
EV/FCF 39.50 32.21 31.80 14.43 (9.11) 21.00 3.33 37.80 10.57 12.17 15.73 19.4
Cash, $m
Cash, $m Operating cash flow 2,115 2,615 2,336 2,161 (2,859) 2,256 4,052 3,418 3,669 4,285 3,595 +8.2%
Capex (1,591) (1,722) (1,791) (1,329) (213) (1,245) (1,989) (2,589) (1,668) (2,195) (1,861) +3.6%
Free cash flow 524 893 545 832 (3,073) 1,011 2,063 829 2,002 2,091 1,734 +16.6%
Balance, $m
Balance, $m Working capital 1,859 909 (339) (1,128) (80) 89 (1,573) (621) (2,302) (960) 1,109 n/m
Net debt (46) 83 163 175 2,445 1,527 (1,101) (2,042) (1,561) (5,062) (4,390) +68.5%
Shareholders’ equity 4,854 5,232 6,039 5,464 5,427 6,446 5,877 8,241 7,560 11,716 13,370 +10.3%
Returns, %
Returns, % ROA 11.31 12.29 6.87 4.54 (7.70) (1.75) 7.89 11.63 9.26 12.09 10.14 +0.8 pt
ROIC 21.88 22.95 11.87 13.89 (7.78) (3.09) 19.66 22.49 17.44 25.86 15.34 +4.0 pt
ROE 32.72 33.67 18.19 12.54 (21.77) (4.72) 22.21 29.39 21.91 26.16 17.26 (6.6) pt
People
People Employees 13,026 14,583 16,840 17,268 15,016 19,116 22,261 27,076 25,952 25,711 — +7.8%
Revenue/emp, $m 0.56 0.57 0.53 0.55 0.13 0.29 0.50 0.54 0.58 0.70 — +2.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Mar 2026 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Ryanair Holdings PLC vs peers in Airlines (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
DAL Delta Air Lines, Inc. $56.2B 17.0× 16.2× +21.07% (above 0%: growing) −47.25% (below 0%: shrinking) −56.40% (below 0%: shrinking) 21.85% 7.20% Compare
UAL United Airlines Holdings Inc $35.9B 10.1× 12.2× +17.41% (above 0%: growing) +8.28% (above 0%: growing) −615.58% (below 0%: shrinking) 64.34% 8.08% Compare
RYAAY Ryanair Holdings PLC $30.3B 14.3× — +2.39% (above 0%: growing) −62.31% (below 0%: shrinking) −150.18% (below 0%: shrinking) 60.67% 31.94%
LUV Southwest Airlines Co. $21.8B 21.1× 17.1× +21.20% (above 0%: growing) +450.00% (above 0%: growing) +46.94% (above 0%: growing) 21.40% 4.49% Compare
LTM LATAM Airlines Group S.A. $13.5B 8.3× 8.3× +17.97% (above 0%: growing) +17.79% (above 0%: growing) −13.57% (below 0%: shrinking) 23.04% 13.14% Compare
AAL American Airlines Group Inc. $8.6B — (loss-making) — (loss-making) +19.31% (above 0%: growing) n/m −43.12% (below 0%: shrinking) 19.23% 0.70% Compare
CPA Copa Holdings, S.A. $5.8B 9.4× 8.5× +25.72% (above 0%: growing) −53.74% (below 0%: shrinking) +207.63% (above 0%: growing) 50.85% 8.65% Compare
ALK Alaska Air Group, Inc. $4.3B — (loss-making) — (loss-making) +14.39% (above 0%: growing) n/m −16.83% (below 0%: shrinking) 100.00% 1.90% Compare
SKYW SkyWest, Inc. $3.0B 7.6× 7.7× +6.41% (above 0%: growing) +7.27% (above 0%: growing) −119.57% (below 0%: shrinking) 69.21% 15.75% Compare
Median of peers $11.0B 9.7× 10.4× +18.64% +7.78% −29.97% 36.94% 7.64%

All 19 Airlines stocks →

Ryanair Holdings PLC (RYAAY) Latest News

3 Nov

Impact 3 · · TheStreet
Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.
Impact 3 · · Fortune

2 Nov

Impact 4 · · Moby
Impact 4 · · Investing.com
Impact 3 · · firstformoney.com
Impact 3 · · Simply Wall St.
Impact 3 · · fastcompany.com
Impact 3 · · ibtimes.com
Impact 3 · · MT Newswires
Impact 3 · · Associated Press
Impact 3 · · The Telegraph
Impact 3 · · The Telegraph
Impact 3 · · AFP
Impact 3 · · euronews.com
Impact 3 · · Euronews
Impact 3 · · MT Newswires
Impact 3 · · MarketBeat

27 Oct

Impact 4 · · Moneywise

25 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.

23 Oct

Impact 4 · · Investing.com

22 Oct

Impact 4 · · Simply Wall St.

21 Oct

Impact 4 · · TheStreet
Impact 4 · · euronews.com

20 Oct

Impact 4 · · The Telegraph
Impact 4 · · The Telegraph
Impact 3 · · CNN

19 Oct

Impact 4 · · Simply Wall St.

RYAAY metrics, ten years each

stockrow.com/RYAAY · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com