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EDreams ODIGEO
(BME:EDR)
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Rating:60Neutral
Price Target:
€5.00
▼(-9.26% Downside)
Action:Reiterated
Date:09/15/26
The score is supported primarily by improved profitability and solid cash generation, plus a constructive earnings-call outlook with reiterated multi-year targets. These positives are tempered by balance-sheet leverage and a weak technical setup (price below key moving averages with negative MACD), while valuation is reasonable but not boosted by a dividend yield.
Positive Factors
Recurring Prime economics
Prime concentrates a large share of cash revenue margin and marginal profit in a recurring membership model. Continued member growth and subscription revenue can improve customer lifetime value, repeat usage, and revenue visibility beyond individual travel bookings.
Negative Factors
Elevated leverage
Debt materially exceeds equity, constraining financial flexibility for a cyclical travel business. Although earnings and returns have improved, elevated leverage can amplify the effect of weaker demand and limit the capital available for investment or shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring Prime economics
Prime concentrates a large share of cash revenue margin and marginal profit in a recurring membership model. Continued member growth and subscription revenue can improve customer lifetime value, repeat usage, and revenue visibility beyond individual travel bookings.
Read all positive factors
EDreams ODIGEO (EDR) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€526.06M
Dividend YieldN/A
Average Volume (3M)384.59K
Price to Earnings (P/E)13.6
Beta (1Y)1.56
Revenue Growth-3.28%
EPS Growth-31.40%
CountryES
Employees1,886
SectorGeneral
Sector StrengthN/A
IndustryTravel Services
Share Statistics
EPS (TTM)0.35
Shares Outstanding112,625,060
10 Day Avg. Volume287,844
30 Day Avg. Volume384,586
Financial Highlights & Ratios
PEG Ratio0.22
Price to Book (P/B)1.34
Price to Sales (P/S)0.50
P/FCF Ratio2.96
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€6.50Price Target Upside17.97% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.31
Revenue Forecast (FY)€673.84M
EDreams ODIGEO Business Overview & Revenue Model
Company Description
Operating across Europe, eDreams ODIGEO S.A. functions as a prominent online travel company, supported by its various subsidiaries. It delivers digital travel agency solutions through its well-recognized brands, which include eDreams, Go Voyages, ...
How the Company Makes Money
eDreams ODIGEO primarily makes money by acting as an intermediary in travel bookings and by monetizing its customer base through subscription and ancillary products. Key revenue streams include: (1) Merchant/agency economics on bookings: when a cu...
EDreams ODIGEO Earnings Call Summary
Earnings Call Date:Sep 01, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Positive
The call was strongly positive overall. Management reported Prime membership growth, recurring revenue expansion, international and rail traction, stronger cash generation, lower net debt, substantial shareholder returns, and reiterated FY27 and FY30 targets. The principal negatives were planned investment-driven declines in cash EBITDA, total revenue margin, reported EBITDA, and net income; higher acquisition and variable costs; intermittent Ryanair content access; and expected margin pressure through Q3. Management consistently characterized these pressures as part of the stated investment cycle and maintained that the business was tracking to plan.Positive Updates
Q1 Results Delivered Ahead of Plan and Consensus
Management said Q1 FY27 performance was delivered to plan and ahead of sell-side consensus, with cash EBITDA of EUR 23 million and adjusted EBITDA of EUR 28.9 million.
Negative Updates
Cash EBITDA Declined Year-on-Year
Cash EBITDA fell from EUR 39 million in Q1 FY26 to EUR 23 million in Q1 FY27, a EUR 16 million reduction. Management said more than 80% of the movement reflected planned investment, including EUR 13.3 million of acquisition spend and a stronger technology workforce.
Read all updates
Q1-2027 Updates
Positive
Negative
Q1 Results Delivered Ahead of Plan and Consensus
Management said Q1 FY27 performance was delivered to plan and ahead of sell-side consensus, with cash EBITDA of EUR 23 million and adjusted EBITDA of EUR 28.9 million.
Read all positive updates
Company Guidance
For FY '27, the company is on track to reach 8.5 million Prime members with 600,000 net adds and expects to deliver EUR 167 million in adjusted EBITDA pre-investments and EUR 115 million in cash EBITDA post-investments, with a front-loaded mid EUR 30 million investment year, or around EUR 34 million or so, and cash EBITDA margins expected to bottom out in Q3 '27 before turning into positive year-on-year cash EBITDA growth in Q4 FY '27; by FY '30, it is targeting 15% to 20% Prime membership CAGR between FY '27 and FY '30, 13 million Prime members, more than EUR 270 million in cash EBITDA, a 33% CAGR from FY '27, 66% of volume driven by non-flight products and by flights outside the top 5 European markets, more than 13% higher lifetime value for members on annual subscription with monthly installments, more than 10% high Net Promoter Scores, and record Prime net additions of 1.5 million to 2 million members a year between next fiscal year and FY '30.EDreams ODIGEO Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
54
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 661.40M | 668.52M | 671.18M | 650.51M | 587.76M | 398.28M |
| Gross Profit | 224.86M | 105.09M | 671.18M | 558.29M | 569.59M | 382.58M |
| EBITDA | 128.54M | 139.40M | 116.24M | 77.58M | 23.61M | -6.26M |
| Net Income | 38.88M | 52.22M | 45.07M | 32.36M | -43.34M | -65.87M |
Balance Sheet | ||||||
| Total Assets | 1.17B | 1.18B | 1.16B | 1.15B | 1.07B | 1.08B |
| Cash, Cash Equivalents and Short-Term Investments | 73.03M | 87.25M | 78.64M | 93.90M | 35.93M | 45.93M |
| Total Debt | 378.77M | 381.30M | 375.04M | 380.64M | 385.70M | 424.26M |
| Total Liabilities | 923.98M | 929.05M | 911.83M | 880.44M | 837.63M | 802.61M |
| Stockholders Equity | 247.10M | 247.92M | 250.25M | 274.53M | 236.30M | 272.52M |
Cash Flow | ||||||
| Free Cash Flow | 88.80M | 112.40M | 91.03M | 89.73M | 64.37M | 92.22M |
| Operating Cash Flow | 154.00M | 175.11M | 146.41M | 138.88M | 102.53M | 119.15M |
| Investing Cash Flow | -64.33M | -61.83M | -55.55M | -48.80M | -38.15M | -26.92M |
| Financing Cash Flow | -68.25M | -107.41M | -105.61M | -31.05M | -67.74M | -50.93M |
EDreams ODIGEO Technical Analysis
Positive
5.51
Price Trends
4.73
Positive
4.91
Negative
4.14
Positive
Market Momentum
0.05
Negative
53.81
Neutral
45.26
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:EDR, the sentiment is Positive. The current price of 5.51 is above the 20-day moving average (MA) of 4.72, above the 50-day MA of 4.73, and above the 200-day MA of 4.14, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 53.81 is Neutral, neither overbought nor oversold. The STOCH value of 45.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES:EDR.
EDreams ODIGEO Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | €40.86B | 17.46 | 25.29% | 4.00% | 10.85% | 13.00% | |
75 Outperform | €23.08B | 18.94 | 27.13% | 2.69% | 3.82% | 0.13% | |
68 Neutral | €12.23B | 10.42 | 12.31% | 4.51% | 4.58% | 10.93% | |
62 Neutral | €36.29B | 59.09 | 10.42% | 2.19% | 5.46% | -81.98% | |
61 Neutral | €2.30B | 26.40 | 8.72% | 1.66% | 4.72% | -49.44% | |
60 Neutral | €526.06M | 13.59 | 15.68% | ― | -3.28% | -31.40% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
ES:EDR
EDreams ODIGEO
4.80
-2.46
-33.88%
ES:AENA
Aena SA
27.24
4.49
19.75%
ES:AMS
Amadeus IT Group S.A
57.20
-7.61
-11.75%
ES:FER
Ferrovial
50.82
-1.88
-3.57%
ES:MAP
Mapfre, SA
4.01
0.31
8.47%
ES:MEL
MELIA HOTELS INTERNATIONAL
10.44
3.34
47.15%
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.