Financials easyJet plc

Equities

EZJ

GB00B7KR2P84

Airlines

Market Closed - London S.E. 16:35:18 26/04/2024 BST 5-day change 1st Jan Change
538.2 GBX +0.98% Intraday chart for easyJet plc +0.56% +5.53%

Valuation

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,548 2,279 5,010 2,241 3,227 4,053 - -
Enterprise Value (EV) 1 4,874 3,404 5,920 2,911 3,186 3,850 3,857 3,991
P/E ratio 13.1 x -1.89 x -4.17 x -13.2 x 10 x 7.95 x 7.47 x 6.99 x
Yield 3.82% - - - - 2.5% 2.93% 3.13%
Capitalization / Revenue 0.71 x 0.76 x 3.44 x 0.39 x 0.39 x 0.43 x 0.4 x 0.37 x
EV / Revenue 0.76 x 1.13 x 4.06 x 0.5 x 0.39 x 0.41 x 0.38 x 0.37 x
EV / EBITDA 5.05 x -12.4 x -10.6 x 5.12 x 2.82 x 2.71 x 2.59 x 2.48 x
EV / FCF -21.9 x -2.4 x -5.04 x 11.8 x 4 x 16.4 x 107 x -27 x
FCF Yield -4.58% -41.7% -19.8% 8.45% 25% 6.09% 0.93% -3.7%
Price to Book 1.51 x 1.08 x 1.35 x 0.88 x 1.16 x 1.24 x 1.11 x 0.97 x
Nbr of stocks (in thousands) 395,470 454,434 755,890 755,946 755,110 753,144 - -
Reference price 2 11.50 5.016 6.628 2.964 4.273 5.382 5.382 5.382
Announcement Date 19/11/19 17/11/20 30/11/21 29/11/22 28/11/23 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 6,385 3,009 1,458 5,769 8,171 9,461 10,134 10,911
EBITDA 1 965 -274 -556 569 1,130 1,423 1,489 1,606
EBIT 1 466 -777 -1,036 3 476 708.3 729.6 798.2
Operating Margin 7.3% -25.82% -71.06% 0.05% 5.83% 7.49% 7.2% 7.32%
Earnings before Tax (EBT) 1 430 -1,273 -1,036 -208 432 637.8 704.6 763
Net income 1 349 -1,079 -858 -169 324 513.3 532.7 580.6
Net margin 5.47% -35.86% -58.85% -2.93% 3.97% 5.42% 5.26% 5.32%
EPS 2 0.8780 -2.649 -1.590 -0.2240 0.4270 0.6772 0.7209 0.7697
Free Cash Flow 1 -223 -1,421 -1,175 246 797 234.3 35.94 -147.6
FCF margin -3.49% -47.22% -80.59% 4.26% 9.75% 2.48% 0.35% -1.35%
FCF Conversion (EBITDA) - - - 43.23% 70.53% 16.47% 2.41% -
FCF Conversion (Net income) - - - - 245.99% 45.65% 6.75% -
Dividend per Share 2 0.4390 - - - - 0.1344 0.1574 0.1685
Announcement Date 19/11/19 17/11/20 30/11/21 29/11/22 28/11/23 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: September 2020 S1 2020 S2 2021 S1 2021 Q3 2021 Q4 2021 S2 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 S1 2023 Q3 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 S2
Net sales 2,382 627 240 212.9 609 1,218 749 1,498 1,755 2,516 4,271 2,689 2,360 5,482 - - 3,200 6,146
EBITDA 89 -363 - - - - -169.5 - 103 674 - - - - - - -26 -
EBIT -174 -603 -686 - - -350 -243 -486 235 235 489 -392 201 868 - - -332 1,013
Operating Margin -7.3% -96.17% -285.83% - - -28.74% -32.44% -32.44% 13.39% 9.34% 11.45% -14.58% 8.52% 15.83% - - -10.37% 16.49%
Earnings before Tax (EBT) 1 -353 -920 - -318.3 - - -278.5 -557 174.5 174.5 - -415 - - -140 -272 -357 -
Net income -324 -755 - - - - - -431 - - - -307 - - - - -294 -
Net margin -13.6% -120.41% - - - - - -28.77% - - - -11.42% - - - - -9.19% -
EPS - - - - - - - - - - - - - - - - -0.3900 -
Dividend per Share - - - - - - - - - - - - - - - - - -
Announcement Date 24/06/20 17/11/20 20/05/21 20/07/21 30/11/21 30/11/21 19/05/22 19/05/22 26/07/22 29/11/22 29/11/22 18/05/23 20/07/23 28/11/23 - - - -
1GBP in Million
Estimates

Balance Sheet Analysis

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 326 1,125 910 670 - - - -
Net Cash position 1 - - - - 41 203 196 62.4
Leverage (Debt/EBITDA) 0.3378 x -4.106 x -1.637 x 1.178 x - - - -
Free Cash Flow 1 -223 -1,421 -1,175 246 797 234 35.9 -148
ROE (net income / shareholders' equity) 11.2% -29.7% -39.7% -5.68% 12.8% 16.9% 15.3% 14.7%
ROA (Net income/ Total Assets) 4.61% -8.72% -9.87% -1.45% 7.53% 4.86% 5.22% 5.7%
Assets 1 7,578 12,380 8,697 11,627 4,304 10,566 10,207 10,185
Book Value Per Share 2 7.600 4.670 4.900 3.360 3.680 4.330 4.840 5.520
Cash Flow per Share 2 1.920 -1.850 -1.920 1.030 2.050 1.600 1.880 2.040
Capex 1 984 659 140 530 754 1,180 1,386 1,701
Capex / Sales 15.41% 21.9% 9.6% 9.19% 9.23% 12.47% 13.68% 15.59%
Announcement Date 19/11/19 17/11/20 30/11/21 29/11/22 28/11/23 - - -
1GBP in Million2GBP
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
19
Last Close Price
5.382 GBP
Average target price
7.1 GBP
Spread / Average Target
+31.92%
Consensus

Quarterly revenue - Rate of surprise

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