Deutsche Lufthansa AG (LHA) Fair Value & Analysis
Industrials · DE · Market cap €11.0B · ISIN DE0008232125
What is Deutsche Lufthansa AG really worth?
Below-average quality, trading 59% below our fair value of €18.94.
Risks
For context
Fair value as of: Aug 31, 2026
From 14 valuation models · updated 5 days ago
Share price −9.6% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain.
- The price is below even our cautious bear case (€14.18). The market is more pessimistic than our downside scenario.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 31, 2026.
How to read this chart
60‑month range €4.70 – €10.09 · fair‑value band €14.18 – €23.67 · the €7.85 price screens below the €18.94 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 31, 2026.
Analysis
Deutsche Lufthansa AG (LHA) currently trades at €7.85, while our model-based Fair Value estimate is €18.94, implying the stock looks roughly 58.6% undervalued today. The Quality Score stands at 41/100 (below-average quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of €20.26 per share, and 7 of the 14 models we run sit above the €7.85 price. Bear case: the Dividend Discount group reads lowest at €4.41, and 7 of the 14 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Deutsche Lufthansa AG generated revenue of €40.3B at a net margin of 3.9%. Revenue grew 7.6% year over year. It earns a return on equity of 13.7%. Net debt stands at €13.4B. Fundamentals as of Aug 31, 2026
Our scenario range runs from €14.18 (bear case) to €23.67 (bull case); at €7.85, 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 15% below its 52-week high and 23% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 45% fair-value upside, at 141%, LHA screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €0.6564 per share, which is 3.5 % 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.
All 14 models by family
Widest divergence: Growth Earnings (€20.26) versus Dividend Discount (€4.41). Highest evidence: Residual Income (73).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 31, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 43 · Market factors (momentum, volatility) 44
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
Deutsche Lufthansa AG operates as an aviation company in Europe, North America, Central and South America, Aisa/Pacific, the Middle East, and Africa. It operates in three segments: Passenger Airlines; Logistics; and Maintenance, Repair and Overhaul (MRO).
Full company description
Deutsche Lufthansa AG operates as an aviation company in Europe, North America, Central and South America, Aisa/Pacific, the Middle East, and Africa. It operates in three segments: Passenger Airlines; Logistics; and Maintenance, Repair and Overhaul (MRO). The Passenger Airlines segment offers products and services to passengers of Lufthansa Airlines, SWISS, Austrian Airlines, Brussels Airlines, and Eurowings. The Logistics segment provides airfreight container management, time-critical shipments, and customs clearance services; and digital and modular logistics solutions for cross-border e-commerce solutions. The MRO segment provides maintenance, repair, and overhaul services for civil commercial aircraft serving original equipment manufacturers, aircraft leasing companies, VIP jet operators, government, armed forces, and airlines. It also sells flight tickets and related ancillary services through agents, its own websites, or other airlines; offers vocational and professional training for cockpit and cabin crew; and IT solutions. The company operates a fleet of 737 aircraft. Deutsche Lufthansa AG was founded in 1926 and is headquartered in Cologne, Germany.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Deutsche Lufthansa AG reported revenue of €39.6B in FY2025 versus €16.8B in FY2021, a compound +23.9%/yr. Reported net income was €1.3B in FY2025.
of which total revenue +2.1 % · buybacks/dilution −3.0 %
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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Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Deutsche Lufthansa AG: Dieter Vranckx, Acquisition
- Should Value Investors Buy Deutsche Lufthansa (DLAKY) Stock?
- Deutsche Lufthansa AG (DLAKF) (Q2 2026) Earnings Call Highlights: Record Revenue Amid Fuel Cost ...
Peer Group
Airlines · 57 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 Airlines median · lower = cheaper
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.
Insider activity: 30/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Airlines stocks, each showing price versus our Fair Value estimate (as of Aug 31, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Delta Air Lines, Inc DAL | $80.07 | $115.82 | +45% |
| United Airlines Holdings UAL | $110.60 | $175.62 | +59% |
| Ryanair Holdings RYA | €25.47 | €41.26 | +62% |
| Southwest Airlines Co LUV | $38.73 | $14.76 | −62% |
| InterGlobe Aviation Limited INDIGO | ₹5,166 | ₹3,073 | −41% |
| Singapore Airlines Limited C6L | 7.09 SGD | 7.89 SGD | +11% |
| Air China Limited 601111 | ¥5.94 | ¥7.16 | +21% |
| LATAM Airlines Group LTM | $52.50 | $106.79 | +103% |
| China Southern Airlines Company 600029 | ¥5.08 | ¥1.28 | −75% |
| China Eastern Airlines Corporation 600115 | ¥3.57 | ¥14.20 | +298% |
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