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easyJet

EJT1.DE
40
Airlines, Airports & Air Services · Industrials
Exchange
Frankfurt Stock Exchange
Winston Score
40
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Mar 31, 2026
How the score breaks down
Quality
Weak
Growth
Good
Cash Flow
Strong
Stability
Good
Valuation
Good

Winston Score History

The full picture

easyJet is a low-cost airline based in the United Kingdom. It flies passengers to destinations across Europe and a handful of routes beyond, serving mostly leisure travelers and budget-conscious business flyers. The airline is one of Europe's largest low-cost carriers, competing directly with Ryanair for price-sensitive customers.

easyJet makes money primarily by selling plane tickets, with additional revenue from extras like checked bags, seat selection, and onboard purchases. It operates mainly across Western and Central Europe, with major bases at airports including London Gatwick, Amsterdam, and Geneva. Its brand recognition and large route network give it some competitive advantage, but thin margins — as reflected in its low gross and operating margins — leave little room for error. Rising fuel costs and fare competition from Ryanair and other budget carriers remain the key risks to profitability.

Growth Profile

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

Revenue Growth

+11.7% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-25.0% YoY

YoY Growth Rate

Earnings declining

Insider Activity

22.9%ownership

Rising

Insiders increasing their stake — aligned with shareholders

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

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
0.4%
Thin — 0.4% gross margin
Profit after running costs
Operating Margin
-13.5%
Losing money on operations — -13.5%
Return on the money invested
ROCE
9.6%
Below par — 9.6% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+9.8%
Steady sales growth (+9.8% YoY)
Profit growth
EPS YoY
-6.7%
Earnings shrinking (-6.7% YoY)

Slight earnings drop. Typical near a cyclical low.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
359%
Turns 359% of profit into real cash
Spare cash per sale
FCF Margin
5.0%
Thin free cash flow (5.0%)

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

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Stability

What it owes vs what it owns
Debt / Equity
0.55
Conservative — low debt load (0.55)
Covers its interest
Interest Cover
3.86x
Tight — interest eats into profit (3.9x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
12.0x
no trend
Attractive valuation — P/E 12.0

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
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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