XTRA:FRA

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Established dividend payer and fair value.


Similar Companies

Share Price & News

How has Fraport's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.8%

FRA

1.1%

DE Infrastructure

-0.2%

DE Market


1 Year Return

1.2%

FRA

2.6%

DE Infrastructure

-5.0%

DE Market

FRA underperformed the Infrastructure industry which returned 2.6% over the past year.

FRA outperformed the Market in Germany which returned -5% over the past year.


Share holder returns

FRAIndustryMarket
7 Day0.8%1.1%-0.2%
30 Day3.1%2.4%4.9%
90 Day0.1%-0.4%1.4%
1 Year4.0%1.2%5.7%2.6%-2.0%-5.0%
3 Year67.5%56.6%59.2%47.7%17.1%7.0%
5 Year66.8%48.4%71.6%44.9%33.9%15.7%

Price Volatility Vs. Market

How volatile is Fraport's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Fraport undervalued based on future cash flows and its price relative to the stock market?

14.29x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Fraport's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Fraport's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Fraport is good value based on earnings compared to the Europe Infrastructure industry average.

Fraport is good value based on earnings compared to the Germany market.


Price Based on Expected Growth

Fraport is poor value based on expected growth next year.


Price Based on Value of Assets

Fraport is good value based on assets compared to the DE Infrastructure industry average.


Next Steps

Future Growth

How is Fraport expected to perform in the next 1 to 3 years based on estimates from 18 analysts?

4.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Fraport's revenue is expected to grow by 1.8% yearly, however this is not considered high growth (20% yearly).

Fraport's earnings are expected to grow by 4.2% yearly, however this is not considered high growth (20% yearly).

Fraport's revenue growth is positive but not above the Germany market average.

Fraport's earnings growth is positive but not above the Germany market average.

Fraport's earnings growth is expected to exceed the low risk savings rate of 0.2%.


Earnings per Share Growth Estimates


Future Return on Equity

Fraport is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Fraport performed over the past 5 years?

15.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Fraport's year on year earnings growth rate has been positive over the past 5 years.

Fraport's 1-year earnings growth exceeds its 5-year average (47.5% vs 15.4%)

Fraport's earnings growth has exceeded the Europe Infrastructure industry average in the past year (47.5% vs 9.2%).


Return on Equity

Fraport has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Fraport used its assets less efficiently than the Europe Infrastructure industry average last year based on Return on Assets.


Return on Capital Employed

Fraport's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Fraport's financial position?


Financial Position Analysis

Fraport is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Fraport's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Fraport's level of debt (121.1%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (130.7% vs 121.1% today).

Debt is not well covered by operating cash flow (16.1%, less than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 4.2x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.3x debt.


Next Steps

Dividend

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

2.80%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Fraport's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.39%).

Fraport's dividend is below the markets top 25% of dividend payers in Germany (3.89%).

Dividends per share have been stable in the past 10 years.

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.7x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2.3x coverage).


Next Steps

Management

What is the CEO of Fraport's salary, the management and board of directors tenure and is there insider trading?

8.0yrs

Average management tenure


CEO

Stefan Schulte (59yo)

10yrs

Tenure

€2,747,100

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

Stefan's remuneration is about average for companies of similar size in Germany.

Stefan's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

8.0yrs

Average Tenure

58yo

Average Age

The average tenure for the Fraport management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

1.7yrs

Average Tenure

65yo

Average Age

The average tenure for the Fraport board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Stefan Schulte (59yo)

    Chairman of the Executive Board & CEO

    • Tenure: 10yrs
    • Compensation: €2.75m
  • Karl-Heinz Dietrich

    Executive Vice President of Retail & Properties

    • Tenure: 0yrs
  • Matthias Zieschang (58yo)

    Executive Director of Finance & Controlling

    • Tenure: 12.4yrs
    • Compensation: €2.23m
  • Michael Müller (62yo)

    Executive Director of Labor Relations & Member of the Executive Board

    • Tenure: 7.3yrs
    • Compensation: €1.81m
  • Anke Giesen (56yo)

    Executive Director of Retail & Real Estate and Member of the Executive Board

    • Tenure: 7.3yrs
    • Compensation: €1.82m
  • Christoph Nanke (52yo)

    Senior VP

    • Tenure: 0yrs
  • Pierre Prümm (46yo)

    Executive Director of Aviation & Infrastructure and Member of Executive Board

    • Tenure: 0.2yrs
  • Ulrich Kipper (58yo)

    Senior EVP of Corporate Infrastructure Management & Member of Supervisory Board

    • Tenure: 1.7yrs
    • Compensation: €23.55k
  • Alexander Zinell

    Head of Global Investments & Management

    • Tenure: 0yrs
  • Jürgen Harrer

    Head of Corporate Communications

    • Tenure: 0yrs

Board Members

  • Wolfgang Kirsch (64yo)

    Chairman of Economic Advisory Board

    • Tenure: 0.7yrs
  • Lothar Klemm

    Member of the Supervisory Board

    • Tenure: 0yrs
    • Compensation: €58.15k
  • Holger Steltzner

    Member of the Economic Advisory Board

    • Tenure: 0yrs
  • Karlheinz Weimar (69yo)

    Chairman of the Supervisory Board & Member of Economic Advisory Board

    • Tenure: 15.8yrs
    • Compensation: €63.80k
  • Margarete Haase (66yo)

    Member of the Supervisory Board

    • Tenure: 9.7yrs
    • Compensation: €68.60k
  • Ulrich Kipper (58yo)

    Senior EVP of Corporate Infrastructure Management & Member of Supervisory Board

    • Tenure: 1.7yrs
    • Compensation: €23.55k
  • Claudia Amier

    Member of the Supervisory Board

    • Tenure: 0yrs
    • Compensation: €56.55k
  • Frank-Peter Kaufmann

    Member of the Supervisory Board

    • Tenure: 5.3yrs
    • Compensation: €47.70k
  • Katharina Wesenick

    Member of the Supervisory Board

    • Tenure: 1.7yrs
    • Compensation: €22.75k
  • Ronald Laubrock

    Vice Chairman of Supervisory Board

    • Tenure: 1.7yrs
    • Compensation: €34.01k

Company Information

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


Key Information

  • Name: Fraport AG
  • Ticker: FRA
  • Exchange: XTRA
  • Founded: 1924
  • Industry: Airport Services
  • Sector: Transportation
  • Market Cap: €7.094b
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FRADB (Deutsche Boerse AG)YesBearer SharesDEEURJun 2001
0O1RLSE (London Stock Exchange)YesBearer SharesGBEURJun 2001
FRAXTRA (XETRA Trading Platform)YesBearer SharesDEEURJun 2001
FPRU.FOTCPK (Pink Sheets LLC)YesBearer SharesUSUSDJun 2001
FRADBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBEURJun 2001
FRASWX (SIX Swiss Exchange)YesBearer SharesCHCHFJun 2001
FRAWBAG (Wiener Boerse AG)YesBearer SharesATEURJun 2001
FPRU.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDNov 2008

Biography

Fraport AG operates airports in Germany, rest of Europe, Asia, and the United States. The company primarily focuses on the operation of Frankfurt Main airport. It operates in four segments: Aviation, Retai ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/21 20:59
End of Day Share Price2019/09/20 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.