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Ryanair Holdings (RYA) Fair Value & Analysis

Industrials · IE · Market cap €26.9B

RH Ryanair Holdings RYA · IR
Price€25.47
Fair Value€30.50
Upside+19.8%
Quality69/100
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Mixed Growth
Solidly profitable · 14.0% net margin
Low debt · generates free cash flow
1.55% dividend yield
Mixed vs. peers (8/15)
Wide moat 65/100
Evidence: High Range €22.78 – €49.61 Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from €43.68 to €30.50 (−30.2%) since Jun 24, 2026. Share price +10.3% over the past month.

A solid business, screening 20% undervalued on our models.

What matters now

  • A fairly wide model range (€22.78 to €49.61) leaves room in how you read the outcome.
  • Our model range runs from €22.78 (bear) to €49.61 (bull), base €30.50. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 69/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

€29.77 €9.78 Fair Value €30.50 Apr 2021 Jun 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range €9.78 – €29.77 · fair‑value band €22.78 – €49.61 · the €25.47 price screens below the €30.50 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Ryanair Holdings (RYA) currently trades at €25.47, while our model-based Fair Value estimate is €30.50, implying the stock looks roughly 19.8% undervalued today. The Quality Score stands at 69/100 (solid 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, Ryanair Holdings generated revenue of €15.5B at a net margin of 14.0%. Revenue grew 9.4% year over year. It earns a return on equity of 25.4%. The balance sheet holds a net cash position of €1.1B. Fundamentals as of Jul 21, 2026

Our scenario range runs from €22.78 (bear case) to €49.61 (bull case); at €25.47, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 15% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 40% fair-value upside, at 20%, RYA screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF €27.06 €53.49 €96.61 80
Residual Income €14.13 €19.35 €101.97 76
Rev-Margin DCF €23.61 €41.93 €68.01 74
All 26 models by family
DCF Models
FCF DCF €27.89 €48.35 €101.59 38
Owner Earnings €25.81 €51.57 €102.36 31
5Y Revenue Exit €23.61 €42.68 €70.30 39
5Y EBITDA Exit €34.26 €66.72 €110.94 41
5Y P/E Exit €32.23 €62.24 €99.48 38
10Y Revenue Exit €24.09 €43.61 €75.02 36
10Y EBITDA Exit €32.16 €62.25 €114.45 37
10Y P/E Exit €30.75 €58.69 €103.94 35
Earnings-Based
Graham-Dodd €14.20 €87.65 €122.34 54
Lynch FV €25.16 €35.95 €46.73 50
PEG = 1.0 €25.16 €35.95 €46.73 46
EPV €22.74 €26.11 €29.07 59
Dividend Discount
Gordon GGM €3.91 €8.13 €12.90 70
DDM Multi-Stage €3.91 €6.86 €8.53 61
Multiples
P/E Multiple €32.90 €43.86 €54.83 63
P/S Multiple €22.40 €29.87 €37.34 58
P/B Multiple €26.63 €35.51 €44.38 55
EV/EBIT €32.61 €42.66 €52.70 53
EV/EBITDA €38.39 €50.36 €62.33 54
EV/Revenue €21.30 €29.37 €37.44 43
Asset-Based
NCAV (Graham) €4.85 €6.50 €9.71 50
Growth DCF
Growth DCF €27.06 €53.49 €96.61 80
Rev-Margin DCF €23.61 €41.93 €68.01 74
Economic Profit
Residual Income €14.13 €19.35 €101.97 76
ROIC Compounder €26.74 €36.31 €49.19 72
Growth Earnings
Growth-Adj P/E €36.14 €51.62 €67.11 68

Widest divergence: Growth Earnings (€51.62) versus Asset-Based (€6.50). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €15.5B
Revenue growth (YoY) +9.4%
Net margin 14.0%
Return on equity 25.4%
Free cash flow €1.8B FY2026
P/E ratio 12.7
More key figures
Operating margin -20.1%
EPS (TTM) €2.04
Dividend yield 1.6%
EPS growth (YoY) -79.0%
Net cash €1.1B FY2024

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 68 · Market factors (momentum, volatility) 46

Profitability 58
Margins and returns on capital today
Quality Growth 66
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 37
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 99
Buybacks instead of dilution

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

Ryanair Holdings plc, together with its subsidiaries, provides scheduled-passenger airline services in Ireland, Italy, Spain, the United Kingdom, and internationally.

Full company description

Ryanair Holdings plc, together with its subsidiaries, provides scheduled-passenger airline services in Ireland, Italy, Spain, the United Kingdom, and internationally. The company offers various ancillary services; engages in other activities connected with its air passenger service, including non-flight scheduled and Internet-related services, as well as in-flight sale of beverages, food, duty-free, and merchandise; and markets car hire, travel insurance, and accommodation services through its website and mobile app. It also provides passenger and aircraft handling, ticketing, and maintenance and repair services; and markets car parking, fast-track, airport transfers, attractions, and activities on its website and mobile app, as well as sells gift vouchers. Ryanair Holdings plc was incorporated in 1996 and is headquartered in Swords, Ireland.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Ryanair Holdings reported revenue of €15.5B in FY2026 versus €4.8B in FY2022, a compound +34.1%/yr. Reported net income was €2.2B in FY2026.

Growth Quality 92/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
€15.5B
Latest YoY
+11.4%
Avg. growth/yr (3Y)
+13.0%
Avg. growth/yr (5Y)
+26.5%
Avg. growth/yr (30Y)
+17.0%
Revenue +34.1%/yr
FY22 €4.8B
FY23 €10.8B
FY24 €13.4B
FY25 €13.9B
FY26 €15.5B
Net income
FY22 −€241M
FY23 €1.3B
FY24 €1.9B
FY25 €1.6B
FY26 €2.2B

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Cite: Fair Value Calculator (2026). "Ryanair Holdings Fair Value". https://www.fairvalue-calculator.com/stock/RYA

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Airlines · 60 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 69 · Top 25%
Fair Value upside +20% · Above median
Return on equity (TTM) 25% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) -20% · Bottom 25%
Revenue growth 9% · Above median
Dividend yield (TTM) 1.6% · Below median
Debt / equity 0.02× · Lower than 75% of peers

Valuation Multiples vs Airlines median · lower = cheaper

P/E (TTM) 12.7× · Pricier than median
P/B 3.08× · Pricier than 75% of peers
P/S (TTM) 2.00× · Pricier than 75% of peers
P/FCF 17.2× · Pricier than 75% of peers
EV/EBITDA 7.4× · Pricier than median
PEG 0.81× · Cheaper than 75% of peers

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 60 · sector 37
FUTURE 47 · sector 46
PAST 100 · sector 46
HEALTH 99 · sector 72
DIVIDEND 31 · sector 41

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 21, 2026).

Stock Price Fair Value vs Fair Value
Delta Air Lines, Inc DAL $84.17 $118.24 +40%
United Airlines Holdings UAL $120.97 $175.62 +45%
Southwest Airlines Co LUV $47.56 $14.76 -69%
InterGlobe Aviation Limited INDIGO ₹5,249 ₹3,704 -29%
Singapore Airlines Limited C6L 7.60 SGD 7.89 SGD +4%
Air China Limited 601111 ¥5.97 ¥7.16 +20%
LATAM Airlines Group LTM $54.87 $106.79 +95%
Deutsche Lufthansa AG 1LHA €8.57 €15.42 +80%
China Southern Airlines Company 600029 ¥4.99 ¥1.28 -74%
China Eastern Airlines Corporation 600115 ¥3.66 ¥14.20 +288%

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Frequently asked questions

Is Ryanair Holdings (RYA) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of €30.50 versus a price of €25.47, about +20% (undervalued).
What is the fair value of RYA?
Our model-based fair value for Ryanair Holdings is €30.50 (as of Jul 21, 2026), built from audited fundamentals. The current price is €25.47.
What is the quality score of RYA?
Ryanair Holdings has a Quality Score of 69/100. 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 revenue of Ryanair Holdings (RYA)?
Ryanair Holdings reported trailing-twelve-month revenue of about €15.5B (latest available figure, as of Jul 21, 2026).
What is the net profit margin of RYA?
The net profit margin of Ryanair Holdings is about 14.0%, meaning it keeps roughly 14.0% of revenue as net income. Based on the latest reported figures.
Does Ryanair Holdings pay a dividend?
Ryanair Holdings currently shows a dividend yield of about 1.55% relative to its recent price (as of Jul 21, 2026).

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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