Fraport AG

FRA.DE

Airlines, Airports & Air Services · Industrials

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

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

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Strong

Stability

Mixed

Valuation

Good

Dividends

Good

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Winston Score History

The full picture

Fraport AG runs airports. Its main job is operating Frankfurt Airport in Germany, one of the busiest airports in Europe. The company also manages airports in Greece, Peru, Bulgaria, Slovenia, and several other countries, making it one of the larger international airport operators in the world.

Fraport makes money in two main ways: charging airlines fees to land planes and use terminals, and collecting rent and sales revenue from shops, restaurants, and parking at its airports. Most of its revenue comes from Frankfurt, which handled roughly 60 million passengers per year before the pandemic disrupted travel. The company has a strong competitive position because airports are natural monopolies — airlines and passengers in a region have very few alternatives. The key growth driver is recovering and growing passenger volumes, but the main risk is that Fraport carries significant debt from building and expanding airport infrastructure, which puts pressure on returns when traffic slows down.

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

+5.8% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-37.5% YoY

YoY Growth Rate

Earnings declining

Insider Activity

66.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€3.7B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Growth context

Fraport AG is growing revenue at 6% 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

19.8%

Thin — 19.8% gross margin

Profit after running costs

Operating Margin

17.5%

Healthy — 17.5% operating margin

Return on the money invested

ROCE

4.9%

Weak — 4.9% 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

+3.0%

Slow sales growth (+3.0% YoY)

Profit growth

EPS YoY

-1.6%

Earnings shrinking (-1.6% YoY)

Slight earnings drop. Typical near a cyclical low.

How steady the profit is

EPS Consistency

1/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

326%

Turns 326% of profit into real cash

Spare cash per sale

FCF Margin

7.5%

Modest free cash flow (7.5%)

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

2.34

Heavy debt load (2.34)

Covers its interest

Interest Cover

2.17x

Tight — interest eats into profit (2.2x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

15.1x

no trend

Fair value — P/E 15.1

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

+0.6

GROWING

Earnings roughly flat

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Dividends

Dividend

Dividend Yield

1.53%

no trend

Small dividend — 1.53% yield

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

Dividend record

Dividend Growth

+15.4%

no trend

Dividend growing fast (15.4% YoY)

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