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eDreams Odigeo SA (EDR) Fair Value & Analysis

Consumer Cyclical · ES · Market cap €513M · ISIN LU1048328220

What is eDreams Odigeo SA really worth?

EO eDreams Odigeo SA EDR · MC
Price€4.96
Fair Value€10.81
Upside+118.2%
Quality59/100

A solid business, trading 54% below our fair value of €10.81.

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Strengths

Moderate debt · generates free cash flow
Ranks above peers (10/14)

Risks

!Mixed Growth (revenue 3y +4.4 %/yr)
!Thin margins · 7.8% net margin
!Moderate moat 54/100
!Weak on balance sheet: 26 out of 100
Evidence: High Range €6.63 – €13.80

Fair value as of: Aug 28, 2026

From 26 valuation models · updated 8 days ago

Share price −13.2% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case (€6.63). The market is more pessimistic than our downside scenario.
  • Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€6.63 to €13.80) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

€9.88 €2.74 Fair Value €10.81 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 28, 2026.

How to read this chart

60‑month range €2.74 – €9.88 · fair‑value band €6.63 – €13.80 · the €4.96 price screens below the €10.81 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 28, 2026.

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Analysis

eDreams Odigeo SA (EDR) currently trades at €4.96, while our model-based Fair Value estimate is €10.81, implying the stock looks roughly 54.2% undervalued today. The Quality Score stands at 59/100 (solid quality), in the Consumer Cyclical sector. Bull case: the DCF Models group reads highest at a median of €11.93 per share, and 21 of the 26 models we run sit above the €4.96 price. Bear case: the Asset-Based group reads lowest at €1.60, and 5 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, eDreams Odigeo SA generated revenue of €669M at a net margin of 7.8%. Revenue declined 8.6% year over year. It earns a return on equity of 21.0%. Net debt stands at €300M. Fundamentals as of Aug 28, 2026

Our scenario range runs from €6.63 (bear case) to €13.80 (bull case); at €4.96, the current price sits below 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 46% below its 52-week high and 85% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −20% fair-value upside, at 118%, EDR screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly €0.1936 per share, which is 1.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF best evidence €8.61 €16.06 €27.40 78
Growth DCF €8.44 €15.01 €24.39 76
EPV €3.62 €4.49 €5.22 74
All 26 models by family
DCF Models
FCF DCF best evidence €8.61 €16.06 €27.40 78
Owner Earnings €1.24 €3.85 €7.83 70
5Y Revenue Exit €4.78 €9.01 €14.51 71
5Y EBITDA Exit €8.66 €16.97 €27.27 73
5Y P/E Exit €6.20 €11.93 €18.34 69
10Y Revenue Exit €5.98 €10.26 €16.39 65
10Y EBITDA Exit €8.48 €15.57 €26.10 66
10Y P/E Exit €7.00 €12.21 €19.31 62
Earnings-Based
Graham-Dodd €3.41 €15.59 €21.39 64
Lynch FV €4.09 €5.84 €7.59 61
PEG = 1.0 €4.09 €5.84 €7.59 57
EPV €3.62 €4.49 €5.22 74
Dividend Discount
Gordon GGM €6.40 €11.54 €15.88 68
DDM Multi-Stage €6.40 €10.54 €12.32 67
Multiples
P/E Multiple €8.28 €11.04 €13.80 63
P/S Multiple €5.78 €7.71 €9.63 58
P/B Multiple €6.40 €8.53 €10.66 55
EV/EBIT €9.63 €13.76 €17.89 65
EV/EBITDA €9.82 €14.02 €18.21 67
EV/Revenue €2.64 €4.95 €7.26 52
Asset-Based
NCAV (Graham) €1.19 €1.60 €2.38 54
Growth DCF
Growth DCF €8.44 €15.01 €24.39 76
Rev-Margin DCF €4.78 €9.04 €14.53 71
Economic Profit
Residual Income €2.74 €3.33 €6.79 72
ROIC Compounder €4.05 €5.91 €8.26 71
Growth Earnings
Growth-Adj P/E €6.75 €9.65 €12.54 67

Widest divergence: DCF Models (€11.93) versus Asset-Based (€1.60). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 11.0
P/S ratio 0.86 P/E × margin
EPS (TTM) €0.4500 price ÷ EPS = P/E 11.0
Net margin 7.8% FY2026
Return on equity 21.0% TTM
Return on assets (EBIT) 2.9% avg 5y
More key figures
Profitability
Operating margin 10.1% TTM
Growth
Revenue (TTM) €669M TTM
Revenue growth (YoY) −8.6% 3y avg +4.4%
EPS growth (YoY) −68.1%
Balance sheet & cash flow
Free cash flow €112M FY2026
Net debt €300M FY2026 · ≈ 2.7 yrs of FCF

Figures from reported company fundamentals · as of Aug 28, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 56 · Market factors (momentum, volatility) 37

Profitability 41
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 78
Earnings quality: real cash, not paper profit
Fin. Strength 19
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 24
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 17
Distance to the 52-week high (market factor)
Net Issuance 100
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

eDreams ODIGEO S.A., together with its subsidiaries, operates as an online travel company in France, Southern Europe, Northern Europe, and internationally. The company offers online travel agency services under the Go Voyages, eDreams, Opodo, Travellink, and Liligo brand names. It also provides marketing, admin and IT consulting, and metasearch services.

Full company description

eDreams ODIGEO S.A., together with its subsidiaries, operates as an online travel company in France, Southern Europe, Northern Europe, and internationally. The company offers online travel agency services under the Go Voyages, eDreams, Opodo, Travellink, and Liligo brand names. It also provides marketing, admin and IT consulting, and metasearch services. The company was formerly known as LuxGEO Parent S.a.r.l. and changed its name to eDreams ODIGEO S.A. in January 2014. eDreams ODIGEO S.A. was founded in 1999 and is based in Madrid, Spain.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

eDreams Odigeo SA reported revenue of €669M in FY2026 versus €398M in FY2022, a compound +13.8%/yr. Reported net income was €52.2M in FY2026.

Growth Quality 58/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
€669M
Latest YoY
−0.4%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.4%
Avg. revenue growth/yr (14Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.3%
Value creation/yr (3Y) Earnings growth per share (CAGR 3 years) plus dividend yield: value created per share and year.
+22.9% (22.9 + 0.0)
Revenue +13.8%/yr
FY22 €398M
FY23 €588M
FY24 €651M
FY25 €671M
FY26 €669M
Net income
FY22 −€65.9M
FY23 −€43.3M
FY24 €32.4M
FY25 €45.1M
FY26 €52.2M
Character of growth · EPS growth decomposed (2016-2026) +15.6 % p.a.
Revenue per share +2.4 %

of which total revenue +3.6 % · buybacks/dilution −1.1 %

EBIT margin −3.7 %
Tax rate +6.1 %
Residual (interest, one-offs) +10.5 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "eDreams Odigeo SA Fair Value". https://www.fairvalue-calculator.com/stock/EDR

Peer Group

Travel Services · 90 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 59 · Above median
Fair Value upside +118% · Top 25%
Return on equity (TTM) 21% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 10% · Above median
Revenue growth −9% · Bottom 25%
Dividend yield (TTM) 19.6% · Top 25%
Debt / equity 1.49× · Higher than 75% of peers

Valuation Multiples vs Travel Services median · lower = cheaper

P/E (TTM) 11.0× · Cheaper than median
P/B 2.40× · Pricier than median
P/S (TTM) 0.89× · Cheaper than median
P/FCF 5.3× · Pricier than median
EV/EBITDA 9.0× · Cheaper than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 17
FUTURE0 · sector 25
PAST84 · sector 31
HEALTH26 · sector 97
DIVIDEND100 · sector 39

Insider activity: 40/100

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

Similar stocks

10 more Travel Services stocks, each showing price versus our Fair Value estimate (as of Aug 28, 2026).

Stock Price Fair Value vs Fair Value
Booking Holdings BKNG $202.56 $152.94 −24%
Airbnb, Inc ABNB $184.40 $85.66 −54%
Royal Caribbean Cruises Ltd RCL $268.74 $215.19 −20%
Viking Holdings VIK $85.03 $43.68 −49%
Carnival Corporation CCL $24.76 $31.36 +27%
Expedia Group EXPE $303.14 $248.63 −18%
Trip.com Group TCOM $45.14 $89.35 +98%
Norwegian Cruise Line Holdings NCLH $16.14 $20.28 +26%
Global Business Travel Group GBTG $9.44 $5.04 −47%
Travel + Leisure Co TNL $66.40 $26.57 −60%

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Frequently asked questions

Is eDreams Odigeo SA (EDR) overvalued or undervalued?
As of Aug 28, 2026, our model estimates a fair value of €10.81 versus a price of €4.96, about +118% upside (undervalued).
What is the fair value of EDR?
Our model-based fair value for eDreams Odigeo SA is €10.81 (as of Aug 28, 2026), built from audited fundamentals. The current price: €4.96.
What is the quality score of EDR?
eDreams Odigeo SA has a Quality Score of 59/100. 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 eDreams Odigeo SA (EDR)?
eDreams Odigeo SA reported trailing-twelve-month revenue of about €669M (latest available figure, as of Aug 28, 2026).
What is the net profit margin of EDR?
The net profit margin of eDreams Odigeo SA is about 7.8%, meaning it keeps roughly 7.8% of revenue as net income. Based on the latest reported figures.
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