Deutsche Lufthansa AG

XTRA:LHA 株式レポート

時価総額：€9.6b

Deutsche Lufthansa マネジメント

マネジメント 基準チェック /24

Deutsche Lufthansaの CEO はCarsten Spohrで、 Jan2011年に任命され、 の在任期間は 15.42年です。 の年間総報酬は€ 8.83Mで、 21.4%給与と78.6%のボーナス（会社の株式とオプションを含む）で構成されています。 は、会社の株式の0.029%を直接所有しており、その価値は€ 2.81M 。経営陣と取締役会の平均在任期間はそれぞれ5年と5.9年です。

主要情報

Carsten Spohr

最高経営責任者

€8.8m

報酬総額

CEO給与比率21.42%
CEO在任期間15.4yrs
CEOの所有権0.03%
経営陣の平均在職期間5yrs
取締役会の平均在任期間5.9yrs

経営陣の近況

Recent updates

ナラティブの更新 • Jun 10

LHA: Flawless 2026 Execution And Summer Demand Risks Will Drive Downside

Analysts have reduced the implied fair value estimate for Deutsche Lufthansa from €7.00 to €6.20, citing lower revenue growth and profit margin assumptions, along with recent price target cuts that point to a need for very strong execution against what some view as a full valuation. Analyst Commentary Recent research commentary on Deutsche Lufthansa highlights a shift toward more cautious views, with several bearish analysts revisiting their ratings and price targets in light of what they see as demanding expectations on both valuation and execution.
ナラティブの更新 • May 27

LHA: Execution Risks Strikes And Premium Service Investment Will Shape Future Upside

The analyst price target for Deutsche Lufthansa has been revised slightly lower to €8.44 from €8.71, as analysts factor in more modest revenue growth assumptions, a lower discount rate, a somewhat stronger profit margin outlook, and a reduced future P/E multiple following a mix of recent target cuts and downgrades, alongside a few smaller upward revisions. Analyst Commentary Recent research on Deutsche Lufthansa shows a split in opinion, with several firms cutting ratings or targets while a smaller group has made modest upward adjustments.
分析記事 • May 15

There May Be Underlying Issues With The Quality Of Deutsche Lufthansa's (ETR:LHA) Earnings

Deutsche Lufthansa AG ( ETR:LHA ) just reported some strong earnings, and the market reacted accordingly with a healthy...
ナラティブの更新 • May 03

LHA: Cost Execution And Margin Discipline Will Support Future Rerating Potential

The analyst price target for Deutsche Lufthansa has been trimmed by roughly €0.33, reflecting a series of recent target cuts and downgrades across major banks as analysts factor in slightly higher discount rates, modestly adjusted profit margin expectations, and a somewhat higher assumed future P/E multiple. Analyst Commentary Recent research points to a mixed but still constructive view on Deutsche Lufthansa, with several firms refining their targets and ratings as new information comes through.
ナラティブの更新 • Apr 19

LHA: Execution On Costs And Margins Will Support Future Rerating Potential

The updated analyst price target for Deutsche Lufthansa has been trimmed by roughly €0.34. Analysts cite recent target cuts at several major banks and slightly lower fair value and profit margin assumptions, partly offset by revised revenue growth expectations and a lower future P/E multiple.
ナラティブの更新 • Apr 03

LHA: Turnaround Execution And Fuel Cost Management Will Drive Future Upside Potential

The updated analyst price target for Deutsche Lufthansa moves modestly higher by about €0.42. This reflects analysts' mixed but generally constructive views that factor in revised growth assumptions, margin expectations and sector P/E comparisons following recent upgrades, downgrades and target tweaks across the Street.
ナラティブの更新 • Mar 20

LHA: Turnaround Execution And Fuel Costs Will Shape Fairly Balanced Outlook

Analysts have revised Deutsche Lufthansa's fair value estimate from €6.00 to €7.00, reflecting a mix of reduced price targets from several banks and more constructive views from others who highlight operational improvement efforts and the potential impact of easing fuel costs over time. Analyst Commentary Recent Street research on Deutsche Lufthansa shows a split picture, with some firms raising targets or upgrading ratings while others trim expectations and highlight execution and growth risks.
ナラティブの更新 • Mar 06

LHA: Turnaround Execution And IT Overhaul Will Support Future Rerating Potential

Analyst fair value for Deutsche Lufthansa has nudged up only slightly to €11.75 from €11.74, as mixed Street price target moves, including cuts around €7.60 and upgrades toward €9.30, leave the overall outlook largely unchanged, but incrementally more constructive on profitability and near term growth assumptions. Analyst Commentary Recent Street research around Deutsche Lufthansa has been mixed, but there is a clear cluster of more positive calls that help explain why fair value estimates have edged higher even as some targets remain cautious.
ナラティブの更新 • Feb 20

LHA: Turnaround Plan And IT Overhaul Will Support Future Repricing Potential

Our updated analyst price target for Deutsche Lufthansa edges higher to €11.74 from €11.57, reflecting modestly adjusted assumptions on revenue growth, profit margins and discount rate. This sits alongside mixed but generally more constructive Street research, where several firms have raised price targets and at least one has upgraded the stock.
ナラティブの更新 • Feb 05

LHA: Turnaround Execution Risk Will Likely Cap Upside Despite Recent Upgrade

Analysts have raised their fair value estimate for Deutsche Lufthansa to €6.0 from €5.0, reflecting updated views on discount rates, revenue growth, profit margins and P/E assumptions, informed by recent mixed price target changes from Deutsche Bank, Barclays, Morgan Stanley and JPMorgan. Analyst Commentary Recent research on Deutsche Lufthansa shows a mixed set of opinions, with some firms turning more constructive and others taking a more cautious stance on the shares and the company’s ability to deliver on its plans.
ナラティブの更新 • Jan 22

LHA: Turnaround Program And IT Overhaul Will Support Higher Future Earnings

Analysts have lifted their fair value estimate for Deutsche Lufthansa from €10.67 to €11.57, reflecting recent price target increases across several banks and updated assumptions on discount rate, revenue growth, profit margins and future P/E multiples. Analyst Commentary Recent Street research on Deutsche Lufthansa has been mixed, but there is a clear cluster of bullish analysts who see upside potential relative to prior expectations.
ナラティブの更新 • Jan 08

LHA: Turnaround Uncertainty And Execution Risks Will Constrain Share Recovery Potential

Analysts have increased the fair value estimate for Deutsche Lufthansa to about €8.30 from €8.01, citing improved profit margin assumptions, a slightly lower discount rate and recent upward revisions to price targets, including a move to €9.30 at one major firm and €8 at another. Analyst Commentary Recent research opinions on Deutsche Lufthansa have shifted meaningfully over the past few months, with some firms turning more constructive and others taking a more cautious stance.
分析記事 • Jan 04

Here's Why Deutsche Lufthansa (ETR:LHA) Has A Meaningful Debt Burden

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
ナラティブの更新 • Dec 22

LHA: Mixed Ratings And Fleet Delays Will Shape Recovery Path Ahead

Analysts have nudged their fair value estimate for Deutsche Lufthansa slightly higher to roughly EUR 8.01 from about EUR 7.89, citing moderately stronger revenue growth expectations and a higher future earnings multiple, despite ongoing profitability and macro headwinds reflected in mixed recent price target revisions. Analyst Commentary Recent Street research on Deutsche Lufthansa presents a mixed outlook, with price targets clustering below the updated fair value estimate and ratings skewed toward caution.
ナラティブの更新 • Dec 08

LHA: Mixed Ratings Will Shape Recovery Outlook Amid Delayed Widebody Deliveries

The analyst price target for Deutsche Lufthansa has been modestly raised to EUR 7.89 from EUR 7.50 as analysts factor in slightly lower perceived risk and improving profit margins, even as they moderate long term growth and valuation assumptions in light of mixed recent research views. Analyst Commentary Recent Street research on Deutsche Lufthansa highlights a mixed backdrop, with modest upward adjustments to some price targets offset by more cautious ratings and valuation resets.
分析記事 • Nov 08

Deutsche Lufthansa's (ETR:LHA) Promising Earnings May Rest On Soft Foundations

Deutsche Lufthansa AG ( ETR:LHA ) just reported some strong earnings, and the market reacted accordingly with a healthy...
ナラティブの更新 • Oct 30

LHA: Market Headwinds And Aircraft Delays Will Shape Earnings Recovery Prospects

Deutsche Lufthansa's analyst price target has been revised lower. The latest consensus estimate decreased from €7.57 to €7.50, as analysts cite continued headwinds and reduced earnings expectations following industry downgrades and cautious outlooks.
ナラティブの更新 • Oct 15

Overoptimistic Projections Will Crumble Under Mounting Cost Pressures

Analysts have slightly lowered their price target for Deutsche Lufthansa, reducing it from €7.65 to €7.57. They cite continued industry headwinds and a cautious outlook on profitability and growth assumptions.
分析記事 • Sep 18

Is Deutsche Lufthansa (ETR:LHA) Using Too Much Debt?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
ナラティブの更新 • Sep 04

Overoptimistic Projections Will Crumble Under Mounting Cost Pressures

Analysts remain cautious on Lufthansa due to valuation concerns despite stable demand and segmental strength in logistics and MRO, as reduced perceived upside and expectations of softer unit revenue leave the consensus analyst price target unchanged at €7.65. Analyst Commentary Analysts see demand for European airlines remaining stable, but regard Lufthansa's valuation as less attractive at current levels.
分析記事 • Aug 13

When Should You Buy Deutsche Lufthansa AG (ETR:LHA)?

XTRA:LHA 1 Year Share Price vs Fair Value Explore Deutsche Lufthansa's Fair Values from the Community and select yours...
分析記事 • Jul 08

Investors Will Want Deutsche Lufthansa's (ETR:LHA) Growth In ROCE To Persist

What are the early trends we should look for to identify a stock that could multiply in value over the long term...
分析記事 • Jun 17

Is There An Opportunity With Deutsche Lufthansa AG's (ETR:LHA) 49% Undervaluation?

Key Insights Using the 2 Stage Free Cash Flow to Equity, Deutsche Lufthansa fair value estimate is €13.65 Deutsche...
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新しいナラティブ • Nov 28

Lufthansa Set To Soar With Digital Advancements And Fleet Modernization Despite Industry Challenges

Lufthansa's operational improvements and fleet modernization are set to enhance net margins by reducing costs and boosting efficiency.

CEO報酬分析

Deutsche Lufthansa の収益と比較して、Carsten Spohr の報酬はどのように変化したか？
日付総報酬給与会社業績
Mar 31 2026n/an/a

€2b

Dec 31 2025€9m€2m

€1b

Sep 30 2025n/an/a

€2b

Jun 30 2025n/an/a

€2b

Mar 31 2025n/an/a

€1b

Dec 31 2024€6m€2m

€1b

Sep 30 2024n/an/a

€1b

Jun 30 2024n/an/a

€1b

Mar 31 2024n/an/a

€2b

Dec 31 2023€6m€2m

€2b

Sep 30 2023n/an/a

€2b

Jun 30 2023n/an/a

€2b

Mar 31 2023n/an/a

€1b

Dec 31 2022€5m€2m

€997m

Sep 30 2022n/an/a

€183m

Jun 30 2022n/an/a

-€695m

Mar 31 2022n/an/a

-€2b

Dec 31 2021€3m€2m

-€2b

Sep 30 2021n/an/a

-€3b

Jun 30 2021n/an/a

-€5b

Mar 31 2021n/an/a

-€6b

Dec 31 2020€6m€1m

-€7b

Sep 30 2020n/an/a

-€5b

Jun 30 2020n/an/a

-€2b

Mar 31 2020n/an/a

-€569m

Dec 31 2019€6m€2m

€1b

報酬と市場: Carstenの 総報酬 ($USD 10.23M ) は、 German市場 ($USD 5.55M ) の同規模の企業の平均を上回っています。

報酬と収益: Carstenの報酬は過去 1 年間で 20% 以上増加しました。

CEO

Carsten Spohr (60 yo)

15.4yrs
在職期間
€8,832,000
報酬

Mr. Carsten Spohr has been an Independent Member of Supervisory Board at Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München since April 29, 2020. He served as Interim Chief Financial Of...

リーダーシップ・チーム

名称ポジション在職期間報酬所有権
Carsten Spohr
Chairman of the Executive Board & CEO15.4yrs€8.83m0.029%
€ 2.8m
Till Streichert
CFO & Member of Executive Board1.8yrs€3.75mデータなし
Michael Niggemann
Chief HR & Legal Officer and Member of the Executive Board6.4yrs€4.29m0.0083%
€ 804.6k
Dieter Vranckx
Chief Commercial Officer & Member of Management Board1.9yrs€2.62mデータなし
Grazia Vittadini
CTO & Member of the Executive Board1.9yrs€2.58mデータなし
Marc-Dominic Nettesheim
Head of Investor Relationsno dataデータなしデータなし
Jorg Eberhart
Head of Strategy & Organizational Development4.7yrsデータなしデータなし
Steffan Harbarth
Chief Commercial Officer for Munich Hub10.3yrsデータなしデータなし
Markus Binkert
Chief Commercial Officer of Swiss International Airlinesno dataデータなしデータなし
Stefan Kreuzpaintner
Chief Commercial Officer5.4yrsデータなしデータなし
Kay Lindemann
Head of Corporate International Relations & Government Affairs of Lufthansa Groupno dataデータなしデータなし
Peter Kunz
Head of Industrial & Logistics for EMEA and Germanyno dataデータなしデータなし
5.0yrs
平均在職期間
53yo
平均年齢

経験豊富な経営陣: LHAの経営陣は経験豊富で経験豊富です（平均在職期間は5年）。

取締役

名称ポジション在職期間報酬所有権
Johannes Teyssen
Chairman of Supervisory Boardless than a yearデータなしデータなし
Erich Clementi
Independent Member of Supervisory Board6.1yrs€150.00kデータなし
Karl Gernandt
Independent Member of Supervisory Board3.1yrs€166.00kデータなし
Harald Kruger
Independent Member of Supervisory Board6.1yrs€225.00kデータなし
Angela Titzrath
Independent Member of Supervisory Board5.8yrs€125.00kデータなし
Britta Seeger
Member of Supervisory Board5.1yrs€100.00kデータなし
Christine Behle
Vice Chairwoman of the Supervisory Board13.1yrs€175.00kデータなし
Astrid Stange
Independent Member of Supervisory Board6.1yrs€100.00kデータなし
Christian Hirsch
Employee Representative Member of Supervisory Board2.9yrs€150.00kデータなし
Holger Koch
Employee Representative Member of Supervisory Board8.1yrs€150.00kデータなし
Klaus Winkler
Employee Representative Member of Supervisory Board8.1yrs€150.00kデータなし
Tim Busse
Employee Representative Member of Supervisory Board2.9yrs€100.00kデータなし
5.9yrs
平均在職期間
60.5yo
平均年齢

経験豊富なボード: LHAの 取締役会 は 経験豊富 であると考えられます ( 5.9年の平均在任期間)。

企業分析と財務データの現状

データ最終更新日（UTC時間）
企業分析2026/06/11 08:13
終値2026/06/11 00:00
収益2026/03/31
年間収益2025/12/31

データソース

企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。

パッケージデータタイムフレーム米国ソース例
会社財務10年
  • 損益計算書
  • キャッシュ・フロー計算書
  • 貸借対照表
アナリストのコンセンサス予想+プラス3年
  • 予想財務
  • アナリストの目標株価
市場価格30年
  • 株価
  • 配当、分割、措置
所有権10年
  • トップ株主
  • インサイダー取引
マネジメント10年
  • リーダーシップ・チーム
  • 取締役会
主な進展10年
  • 会社からのお知らせ

* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。

特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。

分析モデルとスノーフレーク

本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。

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業界およびセクターの指標

私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。

アナリスト筋

Deutsche Lufthansa AG 15 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。30

アナリスト機関
David FintzenBarclays
Andrew LobbenbergBarclays
Conor DwyerBerenberg