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easyJet

EJTTF
46
Airlines, Airports & Air Services · Industrials
Price
$9.18
+0.00 (+0.00%)
Market Cap
$6.86B
Exchange
Other OTC
Winston Score
46
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 9, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+41.7% over 4y

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

Diluted shares outstanding: 539.0M (2021) → 764.0M (2025)

easyJet is a British low-cost airline that flies passengers across Europe and to destinations in North Africa and the Middle East. It sells cheap, no-frills flights directly to everyday travelers, competing on price rather than luxury. easyJet is one of the largest budget airlines in Europe, operating hundreds of routes from major hubs like London Gatwick, Amsterdam, and Geneva.

The company makes most of its money from ticket sales, but it also earns significant revenue from add-ons like checked bags, seat selection, and travel insurance. It operates almost entirely in Europe and reported revenues of roughly £9 billion in its most recent fiscal year. easyJet's main competitive advantage is its strong brand recognition and large network of slots at busy airports, which are hard for new competitors to replicate. The biggest risk the business faces is rising fuel costs and economic downturns, both of which can quickly squeeze its already thin profit margins.

Winston Score History

Growth Profile

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

Revenue Growth

+12.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-25.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

22.9%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$3.6B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

easyJet is a rare growth stock that's already generating positive cash flow while growing at 12%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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

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Quality

Gross Margin
0.4%
Thin — 0.4% gross margin
Operating Margin
-13.5%
Losing money on operations — -13.5%
ROCE
-9.4%
Weak — -9.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY
+46.4%
Fast-growing sales (+46.4% YoY)
EPS YoY
+1.8%
Flat earnings

Single-digit earnings growth — steady but not exciting.

EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion
255%
Turns 255% of profit into real cash
FCF Margin
3.7%
Thin free cash flow (3.7%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity
0.55
Conservative — low debt load (0.55)
Interest Cover
5.54x
Adequate interest coverage (5.5x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)
16.4x
Fair value — P/E 16.4

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

P/E vs Forward
+4.2
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (16.4 → 12.2)

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Dividends

Dividend Yield
1.98%
Small dividend — 1.98% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth
-67.5%
Dividend cut (-67.5% YoY) — warning sign

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