Flughafen Wien Valuation

Is FLW1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of FLW1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FLW1 (€53.2) is trading below our estimate of fair value (€63.08)

Significantly Below Fair Value: FLW1 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FLW1?

Key metric: As FLW1 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for FLW1. This is calculated by dividing FLW1's market cap by their current earnings.
What is FLW1's PE Ratio?
PE Ratio	22.5x
Earnings	€198.26m
Market Cap	€4.46b

FLW1 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/Revenue	4x
Enterprise Value/EBITDA	9.8x
PEG Ratio	2.6x

Price to Earnings Ratio vs Peers

How does FLW1's PE Ratio compare to its peers?

The above table shows the PE ratio for FLW1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	19x
FRA Fraport	10.5x	3.7%	€4.8b
LHA Deutsche Lufthansa	6.6x	14.0%	€7.4b
SIX2 Sixt	13.8x	16.3%	€3.0b
HHFA Hamburger Hafen und Logistik	45x	55.0%	€1.4b
FLW1 Flughafen Wien	22.5x	8.7%	€4.5b

Price-To-Earnings vs Peers: FLW1 is expensive based on its Price-To-Earnings Ratio (22.5x) compared to the peer average (19x).

Price to Earnings Ratio vs Industry

How does FLW1's PE Ratio compare vs other companies in the European Infrastructure Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: FLW1 is expensive based on its Price-To-Earnings Ratio (22.5x) compared to the European Infrastructure industry average (15.5x).

Price to Earnings Ratio vs Fair Ratio

What is FLW1'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.

FLW1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	22.5x
Fair PE Ratio	14.3x

Price-To-Earnings vs Fair Ratio: FLW1 is expensive based on its Price-To-Earnings Ratio (22.5x) compared to the estimated Fair Price-To-Earnings Ratio (14.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst FLW1 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	€53.20	€60.80 +14.3%	0.3%	€61.00	€60.60	n/a	2
Nov ’25	€52.60	€60.80 +15.6%	0.3%	€61.00	€60.60	n/a	2
Oct ’25	€50.80	€58.80 +15.7%	3.1%	€60.60	€57.00	n/a	2
Sep ’25	€54.20	€57.25 +5.6%	0.4%	€57.50	€57.00	n/a	2
Mar ’24	€35.00	€38.70 +10.6%	0.8%	€39.00	€38.40	€49.60	2
Feb ’24	€33.70	€32.97 -2.2%	24.6%	€39.00	€21.50	€50.10	3
Jan ’24	€32.10	€32.73 +1.9%	21.5%	€39.00	€21.50	€50.30	4
Dec ’23	€32.15	€32.73 +1.8%	21.5%	€39.00	€21.50	€48.00	4
Nov ’23	€32.40	€32.86 +1.4%	18.9%	€39.00	€21.50	€50.30	5

Analyst Forecast: Target price is less than 20% higher than the current share price.