Deutsche Lufthansa AG

DLAKY

Airlines, Airports & Air Services · Industrials

Price

$9.73

-0.13 (-1.32%)

Market Cap

$11.70B

Exchange

Other OTC

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 9, 2026 · filings through Jun 30, 2026

Share count rising — dilution

+62.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 738.6M (2021) → 1.20B (2025)

Deutsche Lufthansa AG is a large German airline group that flies passengers and cargo around the world. Its main brands include Lufthansa, Swiss, Austrian Airlines, Brussels Airlines, and Eurowings, serving both leisure travelers and business customers across hundreds of destinations. It is one of the largest airline groups in Europe by passengers carried.

The company makes money primarily by selling airline tickets and cargo space, with additional revenue from its MRO (maintenance, repair, and overhaul) division, which services aircraft for other airlines. Lufthansa operates globally but is centered in Europe, with major hubs in Frankfurt and Munich. Its multi-brand portfolio and large MRO business provide some diversification compared to single-brand carriers, but the razor-thin operating margin of around 0.4% highlights how sensitive the business is to fuel costs, labor expenses, and economic downturns. Rising competition from low-cost carriers across Europe remains a persistent risk to profitability.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+7.9% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-88.2% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$101M/ year

0.3% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

15.0%ownership

Insiders own a meaningful stake in the company

Cash Runway

~2 years

$8.1B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

$8.1B cash & investments at current burn rate

Growth context

Deutsche Lufthansa AG is growing revenue at 8% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

10.0%

Thin — 10.0% gross margin

Operating Margin

3.1%

Thin — 3.1% operating margin

ROCE

2.8%

Weak — 2.8% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+6.4%

Slow sales growth (+6.4% YoY)

EPS YoY

-63.1%

Earnings shrinking (-63.1% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

566%

Turns 566% of profit into real cash

FCF Margin

-3.1%

Burning cash (-3.1%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

0.90x

Dangerous — barely covers interest (0.9x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

P/E Ratio (TTM)

17.7x

Fair value — P/E 17.7

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+11.6

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (17.7 → 6.1)

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Dividends

Dividend Yield

3.96%

Moderate income — 3.96% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

+34.2%

Dividend growing fast (34.2% YoY)

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