Air France-KLM SA (0LN7) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Air France-KLM SA €14.78, price €11.33, upside +30.5%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range €7.07 – €23.97 · fair‑value band €12.24 – €17.29 · the €11.33 price screens below the €14.78 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Air France-KLM SA, together with its subsidiaries, provides passenger and cargo transportation services. The company operates through Network, Maintenance, Transavia, and Other segments. It also offers airframe and engine maintenance, and component support services, including electronic, mechanical, pneumatic, hydraulic, and other services.
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Air France-KLM SA, together with its subsidiaries, provides passenger and cargo transportation services. The company operates through Network, Maintenance, Transavia, and Other segments. It also offers airframe and engine maintenance, and component support services, including electronic, mechanical, pneumatic, hydraulic, and other services. The company provides its services under the Air France, KLM, and Transavia brand names. It operates in France, rest of Europe, North Africa, the Caribbean, West Indies, French Guyana, Indian Ocean, Africa, the Middle East, North America, Mexico, French Polynesia, South America, Asia, and New Caledonia. Air France-KLM SA was founded in 1919 and is headquartered in Paris, France.
Stock analysis
Air France-KLM SA (0LN7) currently trades at €11.33, while our model-based Fair Value estimate is €14.78, implying the stock looks roughly 23.4% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €141.97 per share, and 6 of the 6 models we run sit above the €11.33 price.
Bear case: the Multiples group reads lowest at €60.03, and 0 of the 6 models stay below the price. Evidence for this calculation is low.
Scenario range: €12.24 (bear) to €17.29 (bull), the price of €11.33 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 44/100 (below-average quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Air France-KLM SA reported revenue of €11.1B in FY2020 versus €24.8B in FY2016, a compound −18.3%/yr. Reported net income was −€7.1B in FY2020.
Key figures
Market cap €2.6B · P/S ratio 0.08 · Net margin −63.8% · Return on equity 93.3% · Return on assets (EBIT) −1.4% · Operating margin −0.3% · Revenue growth (YoY) +4.4% · EPS growth (YoY) +6.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 19% below its 52-week high and 33% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −44% fair-value upside, at 31%, 0LN7 screens cheaper than that median.
Fair Value models
Bear €12.24Fair Value €14.78Bull €17.29
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.34/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−59.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−24.6%
’16
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’18
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
4.5% (2016) → −54.1% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Machinery” was too small, so the broader sector is used.)Industrials · 5321 stocks
Beats the sector median on 4/8 measures
A mixed picture versus its sector peers.
Valuation
Quality Score44 · Below median
Profitability
Return on equity (TTM)93.3% · Top 25%
Return on assets3.7% · Above median
Net margin (TTM)4.8% · Below median
Operating margin (TTM)−0.3% · Bottom 25%
Growth and dividend
Revenue growth4.4% · Below median
Valuation Multiplesvs Industrials median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Air France-KLM SA Fair Value". https://www.fairvalue-calculator.com/stock/0LN7
Frequently asked questions
Is Air France-KLM SA (0LN7) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €14.78 versus a price of €11.33, about +31% upside (undervalued).
What is the fair value of 0LN7?
Our model-based fair value for Air France-KLM SA is €14.78 (as of Sep 24, 2026), built from audited fundamentals. The current price: €11.33.
What is the quality score of 0LN7?
Air France-KLM SA has a Quality Score of 44/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Air France-KLM SA (0LN7)?
Our model-based price target is the fair value of €14.78 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario €12.24, optimistic scenario €17.29. It is a calculation from audited fundamentals, not an analyst target.
What is the Air France-KLM SA stock forecast for 2026?
Our models put fair value at €14.78, about +31% upside versus a price of €11.33 (undervalued). Cautious scenario €12.24, optimistic scenario €17.29. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Air France-KLM SA (0LN7)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Air France-KLM SA it is €14.78 per share (as of Sep 24, 2026), against a price of €11.33. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Air France-KLM SA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0LN7 trades below its calculated fair value: price €11.33, fair value €14.78, a gap of about +31% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0LN7?
No. The price is what the market pays today (€11.33); the fair value is what the company's own numbers justify (€14.78). For Air France-KLM SA the two are €3.45 per share apart. That gap is exactly why we show both numbers side by side.
How much is Air France-KLM SA worth?
The market values Air France-KLM SA at about €2.6B (market capitalisation, as of Sep 24, 2026). Per share that is €11.33; our models calculate a fair value of €14.78 per share.
What do the bullish and bearish scenarios say about 0LN7?
Our models span a range for Air France-KLM SA: cautious scenario €12.24, base €14.78, optimistic €17.29 per share (as of Sep 24, 2026, price €11.33). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Air France-KLM SA (0LN7)?
Balance-sheet figures for Air France-KLM SA (as of Sep 24, 2026): return on equity 93.3%. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is 0LN7 from its 52-week high?
Air France-KLM SA trades at €11.33, about 19% below its 52-week high of €13.92 and 33% above the low of €8.53 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €14.78 is for.
Which stocks are comparable to Air France-KLM SA?
From the same area (Industrials) we also value CHEMTECH, INLCM, Contemporary Amperex Technology Co, Delta Electronics (Thailand) Public Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Air France-KLM SA stock attractive at the current price?
The data as of Sep 24, 2026: price €11.33, calculated fair value €14.78 (+31%), Quality Score 44/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0LN7 calculated?
We run Air France-KLM SA through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €14.78, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Air France-KLM SA currently trades 23 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Air France-KLM SA (0LN7)?
The closing price on Oct 2, 2026 was €11.33. Our model-based fair value is €14.78, about +31% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Air France-KLM SA right now?
The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (€12.24). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Air France-KLM SA
How large is the market capitalisation of Air France-KLM SA (0LN7)?
The market capitalisation of Air France-KLM SA is €2.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Air France-KLM SA (0LN7)?
The price-to-sales ratio of Air France-KLM SA is 0.08 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Air France-KLM SA (0LN7)?
The net margin of Air France-KLM SA is −63.8% (fiscal year 2020). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Air France-KLM SA (0LN7)?
The return on equity (ROE) of Air France-KLM SA is 93.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Air France-KLM SA (0LN7)?
On an EBIT basis the return on assets of Air France-KLM SA is −1.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Air France-KLM SA (0LN7)?
The operating margin of Air France-KLM SA is −0.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Air France-KLM SA (0LN7)?
Revenue at Air France-KLM SA is growing +4.4% versus a year earlier (3y avg −24.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Air France-KLM SA (0LN7)?
Earnings per share at Air France-KLM SA are growing +6.1% versus a year earlier. How much earnings per share grew versus a year earlier.
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