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Aegean Airlines S.A (AEGN) Fair Value & Analysis

Industrials · GR · Market cap €1.1B

AA Aegean Airlines S.A AEGN · AT
Price€12.05
Fair Value€22.74
Upside+88.7%
Quality45/100
Mixed Growth
Thin margins · 7.1% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/14)
Narrow moat 41/100
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Evidence: High Range €14.01 – €28.43 Share as image

Fair value as of: Jul 14, 2026

From 24 valuation models · updated 17 days ago

Share price −5.1% over the past month.

What matters now

  • The price is below even our cautious bear case (€14.01). The market is more pessimistic than our downside scenario.
  • Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€14.01 to €28.43) leaves room in how you read the outcome.

Price vs Fair Value (12 months)

€15.26 €10.84 Fair Value €22.74 Jul 2025 Jul 2026

12‑month range €10.84 – €15.26 · fair‑value band €14.01 – €28.43 · the €12.05 price screens below the €22.74 fair value. As of Jul 14, 2026.

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Analysis

Aegean Airlines S.A (AEGN) currently trades at €12.05, while our model-based Fair Value estimate is €22.74, implying the stock looks roughly 88.7% undervalued today. We read business quality at 45/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Aegean Airlines S.A generated revenue of €1.9B at a net margin of 7.1%. Revenue grew 4.8% year over year. It earns a return on equity of 23.7%. The stock trades on a trailing P/E of 7.7. Fundamentals as of Jul 14, 2026

Our scenario range runs from €14.01 (bear case) to €28.43 (bull case); at €12.05, the current price sits below that range. The share trades about 22% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 56% fair-value upside, at 89%, AEGN screens cheaper than that median.

Key figures & financial health

Revenue (TTM) €1.9B
Revenue growth (YoY) +4.8%
Net margin 7.1%
Return on equity 23.7%
Free cash flow €71.3M FY2025
P/E ratio 7.7
More key figures
Operating margin -1.6%
EPS (TTM) €1.65
EPS growth (YoY) +25.2%
Net debt €160K FY2020

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100
Profitability 41
Quality Growth 49
Cashflow 47
Fin. Strength 33
Investment 23
Low Volatility 76
Momentum 37
52W Momentum 28
Net Issuance 80

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Aegean Airlines S.A., together with its subsidiaries, operates as an airline company that engages in the provision of public airline transportation services in Greece and internationally.

Full company description

Aegean Airlines S.A., together with its subsidiaries, operates as an airline company that engages in the provision of public airline transportation services in Greece and internationally. It transports passengers and cargo through scheduled and non-scheduled flights; and offers aviation applications, aircraft technical support, and ground handling aircraft services. The company also offers charter flights; and imports, markets, and leases aircraft and spare parts. Aegean Airlines S.A. was incorporated in 1988 and is headquartered in Athens, Greece.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Aegean Airlines S.A reported revenue of €1.7B in FY2025 versus €675M in FY2021, a compound +25.5%/yr. Reported net income was €148M in FY2025, compounding +134.3%/yr from FY2021.

Revenue +25.5%/yr
FY21 €675M
FY22 €1.3B
FY23 €1.5B
FY24 €1.6B
FY25 €1.7B
Net income +134.3%/yr
FY21 €4.9M
FY22 €108M
FY23 €170M
FY24 €130M
FY25 €148M

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Cite: Fair Value Calculator (2026). "Aegean Airlines S.A Fair Value". https://www.fairvalue-calculator.com/stock/AEGN

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 / 36
FUTURE 24 / 46
PAST 95 / 44
HEALTH 76 / 73
DIVIDEND 0 / 44

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Airlines stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
Ryanair Holdings R1YA34 R$36.72 R$31.20 -15%
Delta Air Lines, Inc DEAI34 R$406.00 R$415.54 +2%
United Airlines Holdings UAL1 €105.00 €181.23 +73%
International Consolidated Airlines Group ICAGY $12.28 $21.76 +77%
Southwest Airlines Co LUV $41.54 $4.93 -88%
InterGlobe Aviation Limited INDIGO ₹5,021 ₹3,704 -26%
Singapore Airlines Limited C6L 6.95 SGD 9.68 SGD +39%
Air China Limited 601111 ¥6.16 ¥15.33 +149%
LATAM Airlines Group LTM $55.85 $106.79 +91%
Deutsche Lufthansa AG 1LHA €9.98 €15.60 +56%

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Frequently asked questions

Is Aegean Airlines S.A (AEGN) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of €22.74 versus a price of €12.05, about +89% (undervalued).
What is the fair value of AEGN?
Our model-based fair value for Aegean Airlines S.A is €22.74 (as of Jul 14, 2026), built from audited fundamentals. The current price is €12.05.
What is the quality score of AEGN?
Aegean Airlines S.A has a Quality Score of 45/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Aegean Airlines S.A (AEGN)?
Aegean Airlines S.A reported trailing-twelve-month revenue of about €1.9B (latest available figure, as of Jul 14, 2026).
What is the net profit margin of AEGN?
The net profit margin of Aegean Airlines S.A is about 7.1%, meaning it keeps roughly 7.1% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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