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FRA

Fraport XTRA:FRA Stock Report

Last Price

€45.72

Market Cap

€4.2b

7D

-6.5%

1Y

-26.4%

Updated

24 Jun, 2022

Data

Company Financials +
FRA fundamental analysis
Snowflake Score
Valuation2/6
Future Growth4/6
Past Performance1/6
Financial Health1/6
Dividends0/6

FRA Stock Overview

Fraport AG owns and operates airports in Germany, rest of Europe, Asia, and the United States.

Fraport Competitors

 

 

 

 

 

 

 

 

 

 

 

 

Price History & Performance

Summary of all time highs, changes and price drops for Fraport
Historical stock prices
Current Share Price€45.72
52 Week High€69.90
52 Week Low€44.88
Beta1.87
1 Month Change-9.32%
3 Month Change-8.96%
1 Year Change-26.38%
3 Year Change-39.52%
5 Year Change-40.85%
Change since IPO31.38%

Recent News & Updates

May 13
Fraport (ETR:FRA) Might Be Having Difficulty Using Its Capital Effectively

Fraport (ETR:FRA) Might Be Having Difficulty Using Its Capital Effectively

To find a multi-bagger stock, what are the underlying trends we should look for in a business? One common approach is...

Shareholder Returns

FRADE InfrastructureDE Market
7D-6.5%-5.2%-0.1%
1Y-26.4%-26.4%-22.0%

Return vs Industry: FRA underperformed the German Infrastructure industry which returned -25.4% over the past year.

Return vs Market: FRA underperformed the German Market which returned -23% over the past year.

Price Volatility

Is FRA's price volatile compared to industry and market?
FRA volatility
FRA Average Weekly Movement4.7%
Infrastructure Industry Average Movement4.1%
Market Average Movement5.6%
10% most volatile stocks in DE Market10.0%
10% least volatile stocks in DE Market2.8%

Stable Share Price: FRA is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: FRA's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
192418,400Stefan Schultehttps://www.fraport.com

Fraport AG owns and operates airports in Germany, rest of Europe, Asia, and the United States. The company primarily focuses on the operation of Frankfurt Main airport. The company operates through four segments: Aviation, Retail & Real Estate, Ground Handling, and International Activities & Services.

Fraport Fundamentals Summary

How do Fraport's earnings and revenue compare to its market cap?
FRA fundamental statistics
Market Cap€4.22b
Earnings (TTM)€39.60m
Revenue (TTM)€2.34b

106.7x

P/E Ratio

1.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FRA income statement (TTM)
Revenue€2.34b
Cost of Revenue€1.74b
Gross Profit€594.60m
Other Expenses€555.00m
Earnings€39.60m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 09, 2022

Earnings per share (EPS)0.43
Gross Margin25.45%
Net Profit Margin1.70%
Debt/Equity Ratio269.1%

How did FRA perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is FRA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FRA?

Other financial metrics that can be useful for relative valuation.

FRA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue5.3x
Enterprise Value/EBITDA28.4x
PEG Ratio2.4x

Price to Earnings Ratio vs Peers

How does FRA's PE Ratio compare to its peers?

FRA PE Ratio vs Peers
The above table shows the PE ratio for FRA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average61.6x

Price-To-Earnings vs Peers: FRA is expensive based on its Price-To-Earnings Ratio (106.7x) compared to the peer average (61.6x).


Price to Earnings Ratio vs Industry

How does FRA's PE Ratio compare vs other companies in the Infrastructure Industry?

Price-To-Earnings vs Industry: FRA is expensive based on its Price-To-Earnings Ratio (106.7x) compared to the European Infrastructure industry average (12.2x)


Price to Earnings Ratio vs Fair Ratio

What is FRA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FRA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio106.7x
Fair PE Ratio44.3x

Price-To-Earnings vs Fair Ratio: FRA is expensive based on its Price-To-Earnings Ratio (106.7x) compared to the estimated Fair Price-To-Earnings Ratio (44.3x).


Share Price vs Fair Value

What is the Fair Price of FRA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FRA (€45.72) is trading below our estimate of fair value (€458.16)

Significantly Below Fair Value: FRA is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: FRA is poor value based on its PEG Ratio (2.4x)


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Future Growth

How is Fraport forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


43.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FRA's forecast earnings growth (43.7% per year) is above the savings rate (-0.05%).

Earnings vs Market: FRA's earnings (43.7% per year) are forecast to grow faster than the German market (8.3% per year).

High Growth Earnings: FRA's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FRA's revenue (9% per year) is forecast to grow faster than the German market (4.8% per year).

High Growth Revenue: FRA's revenue (9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FRA's Return on Equity is forecast to be low in 3 years time (9.6%).


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Past Performance

How has Fraport performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-44.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FRA has a large one-off gain of €325.9M impacting its March 31 2022 financial results.

Growing Profit Margin: FRA became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: FRA's earnings have declined by 44.3% per year over the past 5 years.

Accelerating Growth: FRA has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: FRA has become profitable in the last year, making it difficult to compare its past year earnings growth to the Infrastructure industry (26.9%).


Return on Equity

High ROE: FRA's Return on Equity (1.3%) is considered low.


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Financial Health

How is Fraport's financial position?

Financial Health Score

1/6

Financial Health Score 1/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: FRA's short term assets (€2.8B) exceed its short term liabilities (€1.5B).

Long Term Liabilities: FRA's short term assets (€2.8B) do not cover its long term liabilities (€11.2B).


Debt to Equity History and Analysis

Debt Level: FRA's net debt to equity ratio (208.1%) is considered high.

Reducing Debt: FRA's debt to equity ratio has increased from 101.2% to 269.1% over the past 5 years.

Debt Coverage: FRA's debt is not well covered by operating cash flow (5.9%).

Interest Coverage: FRA's interest payments on its debt are not well covered by EBIT (0.1x coverage).


Balance Sheet


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Dividend

What is Fraport current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


1.17%

Forecast Dividend Yield

Dividend Yield vs Market

Notable Dividend: Unable to evaluate FRA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate FRA's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FRA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FRA's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: FRA is not paying a notable dividend for the German market.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as FRA has not reported any payouts.


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Management

How experienced are the management team and are they aligned to shareholders interests?

10.7yrs

Average management tenure


CEO

Stefan Schulte (61 yo)

19.42yrs

Tenure

€2,756,000

Compensation

Dr. Stefan Schulte has been the Chairman of Executive Board and Chief Executive Officer at Fraport AG since September 1, 2009 and has been its Member of the Executive Board since 2003. Dr. Schulte served a...


CEO Compensation Analysis

Compensation vs Market: Stefan's total compensation ($USD2.91M) is about average for companies of similar size in the German market ($USD2.44M).

Compensation vs Earnings: Stefan's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: FRA's management team is seasoned and experienced (10.7 years average tenure).


Board Members

Experienced Board: FRA's board of directors are considered experienced (9.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Fraport AG's employee growth, exchange listings and data sources


Key Information

  • Name: Fraport AG
  • Ticker: FRA
  • Exchange: XTRA
  • Founded: 1924
  • Industry: Airport Services
  • Sector: Transportation
  • Implied Market Cap: €4.224b
  • Shares outstanding: 92.39m
  • Website: https://www.fraport.com

Number of Employees


Location

  • Fraport AG
  • Frankfurt Airport Services Worldwide
  • Frankfurt am Main
  • Hessen
  • 60547
  • Germany

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/24 00:00
End of Day Share Price2022/06/24 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.