Fraport AG (FRA) Fair Value & Analysis
Industrials · DE · Market cap €6.4B
Fair value as of: Aug 13, 2026
From 21 valuation models · updated yesterday
Share price −2.0% over the past month.
Below-average quality, and screening another 26% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (€56.55). The favourable scenario is already priced in.
- Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range €34.93 – €84.37 · fair‑value band €43.43 – €56.55 · the €66.95 price screens above the €49.83 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Fraport AG (FRA) currently trades at €66.95, while our model-based Fair Value estimate is €49.83, implying the stock looks roughly 25.6% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Fraport AG generated revenue of €4.5B at a net margin of 9.5%. Revenue grew 1.8% year over year. It earns a return on equity of 8.7%. Net debt stands at €9.5B. Fundamentals as of Aug 13, 2026
Our scenario range runs from €43.43 (bear case) to €56.55 (bull case); at €66.95, the current price sits above 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 22% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -27% fair-value upside, at -26%, FRA screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 21 models by family
Widest divergence: Growth Earnings (€89.45) versus Earnings-Based (€35.02). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 42 · Market factors (momentum, volatility) 37
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.
About the company
Fraport AG owns and operates airports in Germany, the rest of Europe, Asia, and the America. It 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.
Full company description
Fraport AG owns and operates airports in Germany, the rest of Europe, Asia, and the America. It 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. The Aviation segment operates land and airside infrastructure, which covers the area of airport charges and related security services. The Retail & Real Estate segment engages in retail activities; and real estate activities, including development and rental of commercial real estate properties and land. This segment also manages buildings and facilities; develops and manages parking and retail areas; and rents advertising space. The Ground Handling segment provides ground services, such as loading, baggage, passenger, airmail and baggage transport, and freight handling services, as well as operates the central infrastructure and baggage transfer system at Frankfurt Airport. The International Activities & Services segment acquires, operates, develops, and expands airports and infrastructure facilities. This segment also offers consulting services; and integrated facility management, corporate infrastructure management, airport expansion south, and information and telecommunication services. Fraport AG was founded in 1924 and is headquartered in Frankfurt am Main, Germany.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Fraport AG reported revenue of €4.4B in FY2025 versus €2.1B in FY2021, a compound +19.9%/yr. Reported net income was €432M in FY2025, compounding +51.1%/yr from FY2021.
of which total revenue +6.0 pp · buybacks/dilution +0.0 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
FRA screens 26% overvalued. Compare with Aena S.M.E., S.A →
Peer Group
Airports & Air Services · 54 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.
Valuation Multiples vs Airports & Air Services median · lower = cheaper
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.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Airports & Air Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Aena S.M.E., S.A AENA | €26.84 | €26.90 | +0% |
| Airports of Thailand Public Company TATD | 2.43 SGD | 1.25 SGD | -49% |
| Grupo Aeroportuario del Pacífico, S.A. PAC | $214.96 | $250.60 | +17% |
| GMR Airports Limited GMRINFRA | ₹102.70 | ₹22.29 | -78% |
| Flughafen Zürich AG FHZN | CHF 231.40 | CHF 121.30 | -48% |
| Shanghai International Airport Co 600009 | ¥23.41 | ¥17.09 | -27% |
| Auckland International Airport Limited AIA | A$7.20 | A$2.77 | -62% |
| Københavns Lufthavne A/S KBHL | kr 5,500 | kr 1,821 | -67% |
| SATS Ltd S58 | 4.71 SGD | 4.03 SGD | -14% |
| Flughafen Wien Aktiengesellschaft, FLU | €51.60 | €46.33 | -10% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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