Deutsche Lufthansa AG

DLAKF

Airlines, Airports & Air Services · Industrials

Price

$9.33

+0.00 (+0.00%)

Market Cap

$11.22B

Exchange

Other OTC

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Good

Stability

Weak

Valuation

Strong

Dividends

Good

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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)

Winston Score History

The full picture

Deutsche Lufthansa is one of Europe's largest airline groups. It operates passenger and cargo flights through several well-known brands, including Lufthansa, SWISS, Austrian Airlines, Brussels Airlines, and Eurowings. The group serves millions of travelers and businesses, flying to destinations across Europe, the Americas, Asia, and Africa.

Lufthansa makes money primarily from ticket sales, cargo transport, and aviation services like aircraft maintenance and catering through its Lufthansa Technik and LSG units. Headquartered in Germany, the company has a market cap of roughly $11 billion and benefits from strong hub positions at major airports like Frankfurt and Munich. Key growth drivers include recovering international travel demand and fleet modernization, but the business faces risks from volatile fuel costs, intense competition from low-cost carriers, and economic slowdowns that can quickly reduce travel spending.

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

€105M/ year

0.3% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

20.0%ownership

Insiders own a meaningful stake in the company

Cash Runway

~3 years

€9.6B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

€9.6B 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

Profit per sale

Gross Margin

10.0%

Thin — 10.0% gross margin

Profit after running costs

Operating Margin

3.1%

Thin — 3.1% operating margin

Return on the money invested

ROCE

1.7%

Weak — 1.7% 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 growth

Sales YoY

+6.3%

Slow sales growth (+6.3% YoY)

Profit growth

EPS YoY

-63.1%

Earnings shrinking (-63.1% YoY)

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

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

523%

Turns 523% of profit into real cash

Spare cash per sale

FCF Margin

-3.4%

Burning cash (-3.4%)

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

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Stability

What it owes vs what it owns

Debt / Equity

1.22

Elevated debt (1.22)

Covers its interest

Interest Cover

0.96x

Dangerous — barely covers interest (1.0x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

17.0x

Fair value — P/E 17.0

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

Cheaper or dearer next year

P/E vs Forward

+12.4

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (17.0 → 4.6)

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Dividends

Dividend

Dividend Yield

4.13%

Healthy income — 4.13% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

-23.9%

Dividend cut (-23.9% YoY) — warning sign

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