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Ryanair Holdings
(NASDAQ:RYAAY)
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Rating:68Neutral
Price Target:
$64.00
▲(12.89% Upside)
Action:Reiterated
Date:07/23/26
The score is supported primarily by strong financial performance (notably a conservative balance sheet and solid profitability/revenue growth) and a reasonable valuation. It is held back by weak technical momentum (price below key moving averages with negative MACD) and a mixed earnings-call outlook featuring a sharp Q1 profit decline, weaker near-term pricing, and limited H2 visibility.
Positive Factors
Debt-Free Balance Sheet
A debt-free balance sheet and substantial liquidity improve resilience through airline downturns, reduce financing costs, and give Ryanair flexibility to fund fleet investment, absorb shocks, and compete against more highly leveraged European rivals.
Negative Factors
Fare and Margin Pressure
Lower fares and revenue per passenger show that traffic growth is not currently translating proportionally into earnings. Continued price stimulation, combined with cyclical airline pricing, could keep margins volatile and constrain near-term profit growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-Free Balance Sheet
A debt-free balance sheet and substantial liquidity improve resilience through airline downturns, reduce financing costs, and give Ryanair flexibility to fund fleet investment, absorb shocks, and compete against more highly leveraged European rivals.
Read all positive factors
Ryanair Holdings (RYAAY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$28.61B
Dividend Yield2.52%
Average Volume (3M)1.53M
Price to Earnings (P/E)13.4
Beta (1Y)0.65
Revenue Growth13.24%
EPS Growth-1.27%
CountryUS
Employees25,863
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)6.80
Shares Outstanding518,789,250
10 Day Avg. Volume1,938,091
30 Day Avg. Volume1,525,755
Financial Highlights & Ratios
PEG Ratio0.30
Price to Book (P/B)2.61
Price to Sales (P/S)1.69
P/FCF Ratio14.54
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$68.45Price Target Upside20.74% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)3.95
Revenue Forecast (FY)$18.22B
Ryanair Holdings Business Overview & Revenue Model
Company Description
Ryanair Holdings plc, together with its subsidiaries, provides scheduled-passenger airline services in Ireland, Italy, Spain, the United Kingdom, and internationally. The company offers various ancillary services; engages in other activities conne...
How the Company Makes Money
Ryanair makes money primarily by selling air travel and related add-on services. Its revenue model is built around (1) scheduled passenger ticket sales, where base fares are priced to stimulate demand and maximize load factors, and (2) ancillary r...
Ryanair Holdings Earnings Call Summary
Earnings Call Date:Jul 20, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Nov 09, 2026
Earnings Call Sentiment Neutral
The call presented a mixed near-term picture: meaningful operational and structural strengths (debt repayment, strong cash position, extensive fuel hedging, traffic growth, fleet orders for highly efficient MAX 10s, buyback progress, and plans for in-house MROs) contrast with significant short-term headwinds (34% drop in quarterly profit, weaker fares and revenue per passenger, spike in jet fuel, higher taxes and maintenance, reduced visibility into H2, and regulatory risks). Management emphasized confidence in long-term cost advantage and market opportunities despite cautious near-term guidance.Positive Updates
Strong Traffic Growth
Q1 traffic grew 6% to 61.3 million passengers; FY2027 traffic guidance reiterated at +4% to ~216 million (H1 +6%, H2 +2%).
Negative Updates
Material Profit Decline
Q1 profit after tax of EUR 538 million, down 34% from EUR 820 million year-ago, primarily attributed to sharp oil price spike (20% of fuel unhedged in Q1) and timing shift of Easter into prior-year quarter.
Read all updates
Q1-2027 Updates
Positive
Negative
Strong Traffic Growth
Q1 traffic grew 6% to 61.3 million passengers; FY2027 traffic guidance reiterated at +4% to ~216 million (H1 +6%, H2 +2%).
Read all positive updates
Company Guidance
Management gave no full‑year PAT number (zero H2 visibility) but reiterated FY‑27 traffic guidance of +4% to ~216m passengers (H1 +6%, H2 +2%) and warned Q2 fares are tracking modestly down (low‑ to mid‑single digits); they expect low‑single‑digit unit‑cost inflation for the year (Q1 unit cost +5%, unit cost ex‑fuel +2%). Q1 headlines: profit after tax EUR 538m (‑34% vs EUR 820m), traffic 61.3m (+6%), scheduled revenue EUR 2.91bn (‑1%), revenue per passenger ‑5%, average fares ‑6%, ancillary ~flat at ~EUR 24/pax, maintenance +15% (and D&A rising for LEAP mid‑life accruals). Fuel: Q1 unhedged spot hit ~$151/bbl; FY‑27 is 80% hedged at $67/bbl to March‑27 and FY‑28 is ~15% hedged (~$85/bbl when placed, with recent forwards higher). Balance sheet/capex: gross cash ~EUR 2.8bn after ~EUR 1.3bn debt repayments and EUR 500m CapEx, final EUR 1.2bn bond repaid, EUR 1.1bn RCF mostly undrawn (c. EUR 40m drawn), 90% of the EUR 750m buyback done at an average EUR 26.35, FY‑27 CapEx ~EUR 2bn and FY‑28 ~EUR 2.7–3.0bn, engine shop spend into 2029, and MAX‑10 deliveries starting spring 2027 (300 by Mar‑2034; ~20% more seats, ~20% less fuel).Ryanair Holdings Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.63B | 15.65B | 13.95B | 13.44B | 10.78B | 4.80B |
| Gross Profit | 3.57B | 3.28B | 2.65B | 3.88B | 2.22B | 120.70M |
| EBITDA | 3.59B | 3.82B | 3.07B | 3.21B | 2.44B | 381.00M |
| Net Income | 1.88B | 2.19B | 1.61B | 1.92B | 1.31B | -240.80M |
Balance Sheet | ||||||
| Total Assets | 18.16B | 19.77B | 17.51B | 17.18B | 16.41B | 15.15B |
| Cash, Cash Equivalents and Short-Term Investments | 2.80B | 3.58B | 3.96B | 4.11B | 4.66B | 3.60B |
| Total Debt | 181.90M | 1.49B | 2.68B | 2.75B | 4.12B | 5.08B |
| Total Liabilities | 8.68B | 9.66B | 10.47B | 9.56B | 10.76B | 9.60B |
| Stockholders Equity | 9.48B | 10.11B | 7.04B | 7.61B | 5.64B | 5.55B |
Cash Flow | ||||||
| Free Cash Flow | 1.71B | 1.81B | 1.86B | 766.00M | 1.98B | 758.90M |
| Operating Cash Flow | 3.45B | 3.72B | 3.42B | 3.16B | 3.89B | 1.94B |
| Investing Cash Flow | -1.34B | -2.62B | -1.43B | -1.56B | -1.90B | -1.41B |
| Financing Cash Flow | -3.27B | -2.22B | -2.00B | -1.33B | -1.05B | -536.50M |
Ryanair Holdings Technical Analysis
Negative
56.69
Price Trends
60.82
Negative
59.47
Negative
62.89
Negative
Market Momentum
-1.21
Positive
42.88
Neutral
47.31
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RYAAY, the sentiment is Negative. The current price of 56.69 is below the 20-day moving average (MA) of 58.27, below the 50-day MA of 60.82, and below the 200-day MA of 62.89, indicating a bearish trend. The MACD of -1.21 indicates Positive momentum. The RSI at 42.88 is Neutral, neither overbought nor oversold. The STOCH value of 47.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RYAAY.
Ryanair Holdings Risk Analysis
Ryanair Holdings disclosed 48 risk factors in its most recent earnings report. Ryanair Holdings reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Disruptions in the aircraft and/or engine maintenance supply chain could adversely affect our operations. Q1, 2026
Ryanair Holdings Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $15.60B | 9.75 | 98.01% | 3.05% | 20.16% | 39.18% | |
77 Outperform | $54.99B | 13.66 | 19.33% | 0.91% | 10.28% | -12.67% | |
70 Outperform | $38.11B | 10.71 | 22.50% | ― | 8.48% | 6.74% | |
68 Neutral | $28.61B | 13.38 | 20.27% | 1.74% | 13.24% | -1.27% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
54 Neutral | $19.97B | 24.50 | 11.27% | 1.60% | 9.46% | 137.74% | |
46 Neutral | $9.23B | -28.24 | 8.29% | ― | 7.53% | -157.37% |
* Industrials Sector Average
RYAAY
Ryanair Holdings
56.69
-5.89
-9.41%
DAL
Delta Air Lines
83.08
21.78
35.53%
LUV
Southwest Airlines
40.67
8.30
25.64%
UAL
United Airlines Holdings
114.83
9.75
9.28%
AAL
American Airlines
13.84
0.59
4.45%
LTM
LATAM Airlines Group SA Sponsored ADR
52.50
2.93
5.90%
Ryanair Holdings Corporate Events
Ryanair Sets September 10, 2026 Date for Annual General Meeting
Aug 12, 2026
Ryanair Holdings plc announced on August 12, 2026 that its Annual General Meeting will be held at the Ryanair Trident Building in Swords, Co. Dublin, Ireland, on Thursday, September 10, 2026, at 9:00 a.m. Irish time. The chairman’s letter, A...
Ryanair Sets New Record With 22.2 Million July 2026 Passengers
Aug 5, 2026
Ryanair reported that in July 2026 it carried 22.2 million guests, a 7% increase from 20.8 million a year earlier, while maintaining a high load factor of 96%. The airline operated more than 120,800 flights during the month, underscoring robust su...
Ryanair Confirms Total Voting Rights Following July 2026 Share Capital Update
Aug 4, 2026
Ryanair Holdings plc reported that, as of 31 July 2026, its issued share capital comprised 1,037,964,753 ordinary shares with a nominal value of €0.006 each, and the company held no shares in treasury, leaving the full issued share count out...
Ryanair Cancels Over 277,000 Shares in Late-July Buyback
Aug 3, 2026
Ryanair Holdings said that between 27 and 31 July 2026 it repurchased and cancelled 195,390 ordinary shares and 82,192 ordinary shares underlying American Depositary Shares as part of its ongoing share buy-back programme. The purchases, executed a...
Ryanair Discloses Capital Group Stake Trim Below 17% in Late July 2026
Jul 28, 2026
On 24 July 2026, asset manager The Capital Group Companies, Inc. reduced its stake in Ryanair Holdings, triggering a regulatory disclosure as its voting rights slipped below the 17% threshold. The holding fell from 17.03% to 16.91% of Ryanair̵...
Ryanair Announces FY26 Final Dividend and Detailed Payment Timetable
Jul 23, 2026
Ryanair Holdings plc, Europe’s largest low-cost carrier based in Dublin, serves a wide network of short-haul routes with a focus on budget-conscious travellers and ancillary revenue streams. Its shares are settled through Euroclear Bank and ...
Capital Group Lifts Ryanair Stake Above 17% Voting Threshold
Jul 20, 2026
On July 16, 2026, The Capital Group Companies, Inc. disclosed that its aggregate holding in Ryanair Holdings PLC had risen above the 17% threshold of total voting rights, with Capital Research and Management Company also exceeding 17%. The notific...
Ryanair Cancels Over 260,000 Shares in Mid‑July 2026 Buyback
Jul 20, 2026
Between July 13 and July 17, 2026, Ryanair Holdings plc repurchased for cancellation a total of 180,791 ordinary shares and 82,426 ordinary shares underlying American Depositary Shares under its ongoing share buyback programme announced in May 202...
Ryanair Q1 Profit Slides 34% as Fuel Costs Surge, Balance Sheet Turns Debt-Free
Jul 20, 2026
On 20 July 2026, Ryanair reported that profit after tax for the quarter ended 30 June 2026 fell 34% year on year to €538 million, as 20% of its jet‑fuel exposure remained unhedged and prices spiked while average fares dropped 6%. Reven...
Ryanair Cancels Shares After July 2026 Buybacks Under Ongoing Programme
Jul 13, 2026
Ryanair Holdings plc reported that between 6 July and 10 July 2026 it repurchased a total of 176,621 ordinary shares and 89,640 ordinary shares underlying American Depositary Shares for cancellation. The purchases were executed at volume-weighted ...
Ryanair Discloses Capital Group Stake Increase Above 16%
Jul 9, 2026
Ryanair Holdings disclosed that The Capital Group Companies, Inc., a major U.S.-based investment manager, has increased its voting stake in the airline above 16% of total voting rights outstanding as of 7 July 2026. The move, notified to Ryanair a...
Ryanair Continues Share Buyback With Late-June and Early-July 2026 Cancellations
Jul 6, 2026
Between 29 June and 3 July 2026, Ryanair Holdings plc repurchased and cancelled 5,084 ordinary shares and 242,464 ordinary shares underlying American Depositary Shares as part of its ongoing share buyback programme. The purchases, executed at volu...
Ryanair Sets New Monthly Passenger Record as June 2026 Traffic Climbs 7%
Jul 2, 2026
Ryanair reported that June 2026 traffic rose 7% year on year, carrying 21.2 million guests compared with 19.9 million in June 2025. The airline operated over 116,800 flights during the month while maintaining a load factor of 95%, setting a new re...
Ryanair Cancels Over 310,000 Shares in Late-June 2026 Buy-Back
Jun 29, 2026
Ryanair Holdings disclosed that between 22 June and 26 June 2026 it repurchased and cancelled 7,084 ordinary shares and 303,158 ordinary shares underlying American Depositary Shares as part of its ongoing share buy-back programme. The purchases, c...
Ryanair Files 2026 Annual Report with U.S. SEC
Jun 22, 2026
Ryanair Holdings plc filed a Form 6-K with the U.S. Securities and Exchange Commission in June 2026, announcing that it had published its Annual Report for the fiscal year 2026 on June 22, 2026. The report’s filing, signed by Group CFO Neil ...
Ryanair Extends CEO Michael O’Leary’s Contract to 2032 with Performance-Linked Options
Jun 22, 2026
On 19 June 2026, Ryanair’s board confirmed a new contract keeping Michael O’Leary as Group CEO until April 2032, following months of negotiations and extensive engagement with major shareholders. The deal features a modest salary, capp...
Ryanair Grants 10 Million Share Options to CEO Michael O’Leary
Jun 22, 2026
Ryanair Holdings disclosed that its Group Chief Executive Officer, Michael O’Leary, received a grant of options over 10 million ordinary shares on June 19, 2026, under the company’s 2019 Long Term Incentive Plan. The options carry a st...
Ryanair Cancels Over 250,000 Shares in Mid-June Buyback
Jun 22, 2026
Ryanair Holdings said that between 15 June and 19 June 2026 it repurchased and cancelled 9,583 ordinary shares and 241,998 ordinary shares underlying American Depositary Shares as part of its ongoing share buy-back programme. The purchases, execut...
Ryanair Cancels Additional Shares After June 8–12 Buybacks
Jun 15, 2026
Ryanair Holdings said it repurchased and cancelled 7,400 ordinary shares and 334,860 ordinary shares underlying American Depositary Shares between 8 and 12 June 2026. The buys, executed at volume-weighted average prices of about €23.67–...
Ryanair Cancels Over 456,000 Shares in Early June 2026 Buyback
Jun 8, 2026
Ryanair Holdings plc reported that between 1 and 5 June 2026 it repurchased a total of 8,721 ordinary shares and 447,300 ordinary shares underlying American Depositary Shares for cancellation. The transactions, executed at volume-weighted average ...
Ryanair Discloses June 2 Director Share Awards and Sales Under 2019 Incentive Plan
Jun 4, 2026
Ryanair disclosed several director dealings in its ordinary shares under EU market abuse regulations, detailing transactions that took place on 2 June 2026. Non-executive directors Anne Nolan, Eamonn Brennan and Emer Daly each received 3,984 ordin...
Ryanair May 2026 Traffic Rises 6% to 20.7 Million Passengers
Jun 3, 2026
Ryanair reported that in May 2026 it carried 20.7 million guests, a 6% increase from 19.6 million in May 2025, while maintaining a load factor of 95% and operating over 114,000 flights. On a rolling 12-month basis to May 2026, passenger numbers ro...
Ryanair Confirms Total Voting Rights at Just Over 1.04 Billion Shares
Jun 2, 2026
Ryanair Holdings plc reported that, as of 31 May 2026, its issued share capital comprised 1,040,746,147 ordinary shares with a nominal value of €0.006 each, with no shares held in treasury. This leaves a total of 1,040,746,147 shares carryin...
Ryanair Discloses Artisan Partners’ Stake Increase Above 5% Threshold
Jun 2, 2026
Ryanair Holdings PLC disclosed that U.S.-based asset manager Artisan Partners Limited Partnership has increased its stake in the airline, triggering a regulatory notification of major holdings. According to a filing completed in Milwaukee on June ...
Ryanair Slams Belgian ATC Wildcat Strike After 100 Flights Axed on 2 June
Jun 2, 2026
Ryanair reported that on 2 June 2026 an unannounced wildcat strike by Belgian air traffic controllers forced the airline to cancel around 100 flights to and from Charleroi and Brussels Zaventem, affecting nearly 20,000 passengers. The carrier crit...
Ryanair Discloses BlackRock Stake Cut Below 3% Threshold
Jun 2, 2026
Ryanair Holdings disclosed that asset manager BlackRock, Inc., a major institutional investor, has reduced its holding in the airline below the 3% threshold of voting rights. The notification, dated 1 June 2026, states that on 29 May 2026 BlackRoc...
Ryanair Discloses Capital Group Lifting Stake Above 15% in Late May 2026
Jun 2, 2026
Ryanair Holdings PLC disclosed that The Capital Group Companies, Inc. has increased its stake in the airline, crossing the 15% voting rights threshold on 28 May 2026. The resulting holding amounts to 15.07% of Ryanair’s total voting rights, ...
Ryanair Continues Share Buyback With Late-May 2026 Share Cancellations
Jun 1, 2026
Ryanair Holdings plc disclosed that between 25 and 29 May 2026 it repurchased for cancellation a total of 7,640 ordinary shares and 391,004 ordinary shares underlying American Depositary Shares as part of its ongoing share buyback programme. The t...
Ryanair Becomes Effectively Debt-Free After Repaying Final €1.2 Billion Bond
May 26, 2026
Ryanair Holdings, Europe’s largest low-cost airline group, operates a pan-European network through brands including Ryanair, Buzz, Lauda, Malta Air and Ryanair UK. It serves about 216 million passengers annually across 36 countries with near...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.