Financials Ryanair Holdings plc

Equities

RYA

IE00BYTBXV33

Airlines

Market Closed - Euronext Dublin Other stock markets 16:55:00 17/07/2025 BST			5-day change	1st Jan Change
23.61 ^EUR	+0.25%		-3.00%	+23.84%

07-15	Airlines suspend Middle East flights	RE
07-15	BofA Expects 'Cautiously Optimistic' Peak Summer Outlook from European Airlines	MT

Projected Income Statement: Ryanair Holdings plc

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	1,636	4,801	10,775	13,444	13,948	15,119	15,927	17,042
Change	-	193.49%	124.44%	24.77%	3.75%	8.39%	5.34%	7%
EBITDA ¹	-268.4	379.8	2,496	3,120	2,772	3,514	3,924	4,240
Change	-	241.51%	557.27%	24.99%	-11.15%	26.75%	11.66%	8.04%
EBIT ¹	-839.4	-339.6	1,573	2,061	1,558	2,241	2,554	2,763
Change	-	59.54%	563.22%	31%	-24.39%	43.86%	13.95%	8.2%
Interest Paid ¹	-53.8	-91.4	-34.4	-	-66.5	-62	-48	-68
Earnings before Tax (EBT) ¹	-1,109	-429.8	1,573	2,128	1,784	2,330	2,595	2,791
Change	-	61.23%	465.98%	35.28%	-16.15%	30.57%	11.36%	7.58%
Net income ¹	-1,015	-240.8	1,314	1,917	1,612	2,074	2,329	2,497
Change	-	76.28%	645.6%	45.92%	-15.94%	28.67%	12.32%	7.21%
Announcement Date	17/05/21	16/05/22	22/05/23	20/05/24	19/05/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: March	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	125.2	1,051	341.2	118.4	370.5	1,784	1,470	1,176	2,602	4,015	2,312	1,847	3,649	4,926	2,699	2,170	3,626	5,066	2,959	2,297	4,223	5,429	3,088	2,415
Change	-	739.46%	-67.54%	-65.3%	212.92%	381.62%	-17.62%	-19.99%	121.2%	54.32%	-42.41%	-20.12%	97.58%	34.98%	-45.21%	-19.59%	67.11%	39.71%	-41.59%	-22.37%	83.8%	28.56%	-43.12%	-21.79%
EBITDA ¹	-	-	-189.5	-198.7	-170.2	455.9	76.9	17.2	466	1,645	374.4	10.6	986.1	1,988	244.5	-98.9	678.9	1,963	324.5	-194	1,118	2,162	336.4	-151.3
Change	-	-	-	-4.85%	14.34%	367.86%	-83.13%	-77.63%	2,609.3%	253.07%	-77.24%	-97.17%	9,202.83%	101.65%	-87.7%	-140.45%	786.45%	189.14%	-83.47%	-159.78%	676.47%	93.29%	-84.44%	-144.96%
EBIT ¹	-187.6	10.8	-332.4	-330.3	-304.5	254	-116.7	-172.4	239.6	1,419	161.7	-226.8	711.2	1,705	-18.9	-336.2	365.7	1,649	32.6	-489.1	791.8	1,804	66.23	-437.1
Change	-	105.76%	-3,177.78%	0.63%	7.81%	183.42%	-145.94%	-47.73%	238.98%	492.07%	-88.6%	-240.26%	413.58%	139.68%	-101.11%	-1,678.84%	208.77%	350.86%	-98.02%	-1,600.31%	261.89%	127.89%	-96.33%	-759.97%
Charge d'intérêts	-9.4	-5.9	-12.4	-26	-20	-	-	-22.7	-20.1	-16.1	-5.9	-	-18.1	13.7	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	-210	-222.4	-362.5	-313.9	-324.5	-	-132.8	-197.1	203	1,220	212.8	-62.6	740.7	1,718	2.7	-333.2	400.8	1,666	143.7	-426.2	806.5	1,741	150	-371
Change	-	-5.9%	-62.99%	13.41%	-3.38%	-	-	-48.42%	202.99%	500.84%	-82.55%	-129.42%	1,283.23%	131.92%	-99.84%	-12,440.74%	220.29%	315.69%	-91.38%	-396.59%	289.23%	115.87%	-91.38%	-347.33%
Net income ¹	-185.1	-225.5	-320.8	-283.8	-272.6	225	-95.8	-97.4	187.5	1,076	202.1	-151.7	662.9	1,515	14.8	-275.8	360	1,431	148.6	-328.2	678.7	1,696	107.1	-372.1
Change	-	-21.83%	-42.26%	11.53%	3.95%	182.54%	-142.58%	-1.67%	292.51%	473.81%	-81.22%	-175.06%	536.98%	128.57%	-99.02%	-1,963.51%	230.53%	297.56%	-89.62%	-320.86%	306.79%	149.82%	-93.68%	-447.48%
Announcement Date	27/07/20	02/11/20	01/02/21	17/05/21	26/07/21	01/11/21	31/01/22	16/05/22	25/07/22	07/11/22	30/01/23	22/05/23	24/07/23	06/11/23	29/01/24	20/05/24	22/07/24	04/11/24	27/01/25	19/05/25	-	-	-	-

¹EUR in Million

Estimates

Fiscal Period: March	2022 S1	2024 S1
Net sales ¹	-	8,575
Change	-	-
EBITDA ¹	-	2,975
Change	-	-
EBIT ¹	-	2,416
Change	-	-
Charge d'intérêts	-	-
Earnings before Tax (EBT) ¹	-	2,458
Change	-	-
Net income ¹	-47.6	2,178
Change	-	4,675.84%
Announcement Date	01/11/21	06/11/23

¹EUR in Million

Estimates

Forecast Balance Sheet: Ryanair Holdings plc

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	2,277	1,452	-559	-1,373	-1,304	-1,809	-3,081	-4,085
Change	-	-36.23%	-138.5%	-145.62%	5.03%	-38.75%	-70.32%	-32.59%
Announcement Date	17/05/21	16/05/22	22/05/23	20/05/24	19/05/25	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: Ryanair Holdings plc

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	294.7	1,182	1,915	2,392	1,552	2,077	1,875	2,409
Change	-	300.95%	62.04%	24.92%	-35.09%	33.81%	-9.72%	28.44%
Free Cash Flow (FCF) ¹	-2,743	758.9	1,976	766	1,863	1,743	2,244	1,940
Change	-	127.67%	160.42%	-61.24%	143.24%	-6.48%	28.81%	-13.57%
Announcement Date	17/05/21	16/05/22	22/05/23	20/05/24	19/05/25	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: Ryanair Holdings plc

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	-16.41%	7.91%	23.17%	23.21%	19.88%	23.24%	24.64%	24.88%
EBIT Margin (%)	-51.31%	-7.07%	14.6%	15.33%	11.17%	14.82%	16.04%	16.22%
EBT Margin (%)	-67.78%	-8.95%	14.6%	15.83%	12.79%	15.41%	16.29%	16.38%
Net margin (%)	-62.06%	-5.02%	12.19%	14.26%	11.55%	13.72%	14.62%	14.65%
FCF margin (%)	-167.67%	15.81%	18.34%	5.7%	13.36%	11.53%	14.09%	11.38%
FCF / Net Income (%)	270.19%	-315.16%	150.43%	39.96%	115.61%	84.03%	96.37%	77.69%
Profitability
ROA	-6.02%	-2.58%	8.33%	11.42%	9.29%	11.65%	11.85%	11.95%
ROE	-17.06%	-6.97%	23.49%	28.92%	22%	27.2%	26.25%	23.36%
Financial Health
Leverage (Debt/EBITDA)	-8.48x	3.82x	-	-	-	-	-	-
Debt / Free cash flow	-0.83x	1.91x	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	18.02%	24.61%	17.77%	17.79%	11.13%	13.74%	11.78%	14.13%
CAPEX / EBITDA (%)	-109.8%	311.11%	76.7%	76.66%	56%	59.12%	47.79%	56.82%
CAPEX / FCF (%)	-10.74%	155.7%	96.88%	312.26%	83.32%	119.22%	83.56%	124.17%
Items per share
Cash flow per share ¹	-2.205	1.716	3.414	2.758	3.084	3.442	3.732	4.08
Change	-	177.84%	98.97%	-19.22%	11.81%	11.63%	8.41%	9.32%
Dividend per Share ¹	-	-	-	0.353	0.4	0.4452	0.5192	0.5902
Change	-	-	-	-	13.31%	11.31%	16.62%	13.68%
Book Value Per Share ¹	4.12	4.887	4.955	6.679	6.614	7.561	9.546	11.37
Change	-	18.62%	1.39%	34.8%	-0.97%	14.31%	26.26%	19.15%
EPS ¹	-0.9142	-0.213	1.153	1.674	1.455	1.95	2.221	2.42
Change	-	76.7%	641.27%	45.23%	-13.1%	34.01%	13.94%	8.92%
Nbr of stocks (in thousands)	1,127,657	1,134,481	1,138,665	1,139,908	1,065,713	1,061,379	1,061,379	1,061,379
Announcement Date	17/05/21	16/05/22	22/05/23	20/05/24	19/05/25	-	-	-