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Europe's largest low-cost airline, flying short-haul point-to-point routes with a no-frills, ancillary-fee-driven business model.
Europe's largest low-cost airline, flying short-haul point-to-point routes with a no-frills, ancillary-fee-driven business model.
Keeps fares low to fill every seat and earns extra from bags, priority boarding and seat selection, flying mainly Boeing 737s with fast turnarounds at cheaper secondary airports. Airports often cut charges in return for its traffic. Michael O'Leary has run it for over three decades.
In one line: Europe's Southwest Airlines.
Moat: narrow (cost advantage, scale). Lowest unit costs in European aviation from fleet standardization and high aircraft utilization.
Headquarters: Swords, Ireland · Founded: 1984 · Employees: 25,711
Size Ryanair Holdings PLC Sponsored ADR (RYAAY) is a United States Industrials company (Airlines) with a market value of $29.5B, the 373rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $59.30 on 6 Nov 2026.
Performance Over six months the shares gained 2.1%, against +9.1% for the median peer and -1.1% for the United States market (cap-weighted) — 7th lowest of 19 in its peer set.
Growth Revenue grew 8.5% over the last twelve months (peer median +12.3%); the operating margin is 12.5% (peer median 6.8%).
Valuation It trades at 17.0× forward earnings against a peer median of 13.5× (5th most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +57%, so the hurdle is -50 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.8 points above its cost of capital (10.8% WACC).
Short interest Short interest is 0.6% of the free float (15 Oct 2026).
Next results Next results expected around 1 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $18.3B | $18.0B | $15.0B | $14.6B | $11.2B |
| Revenue growth | — | +20% | +3% | +30% | — |
| Gross profit | $3.22B | $3.78B | $2.62B | $3.06B | $2.20B |
| EBITDA | $4.04B | $4.44B | $2.98B | $3.38B | $2.46B |
| Net income | $2.05B | $2.52B | $1.73B | $2.08B | $1.37B |
| Free cash flow | $1.74B | $2.09B | $2.00B | $831M | $2.06B |
| Capital expenditure | $1.87B | $2.19B | $1.67B | $2.59B | $1.99B |
| Total debt | $659M | $1.72B | $2.90B | $2.97B | $4.47B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Ryanair Holdings PLC Sponsored ADR RYAAY | $29.5B | +2% | +9% | 13% | 17.0× | 6.4% |
| easyJet EZJ.L | $6.96B | +90% | +10% | 5% | 68.9× | 4.8% |
| Wizz Air WIZZ.L | $1.48B | +8% | +11% | -2% | n/a | 3.4% |
| International Consolidated Airlines IAG.L | $25.3B | +9% | +4% | 14% | 8.3× | -3.9% |
| Deutsche Lufthansa LHA.DE | $11.4B | +7% | +8% | -1% | 9.7× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | RYAAY | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.7% | +5.4% | 4th highest of 19 |
| 6-month return | +2.1% | +9.1% | 7th lowest of 19 |
| Distance from 52-week high | -20.1% | -16.4% | 7th lowest of 19 |
| Revenue growth (TTM) | +8.5% | +12.3% | 6th lowest of 19 |
| Operating margin | 12.5% | 6.8% | 3rd highest of 19 |
| Forward P/E | 17.0× | 13.5× | 5th most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 6.4% | 0.5% | 6th most demanding of 13 |
| Growth delivered (Del g) | +56.7% | +29.6% | highest of 13 |
| Hurdle (Req g minus delivered) | -50.3 pp | -27.8 pp | 2nd least demanding of 13 |
| ROIC minus cost of capital | +5.8 pp | +0.4 pp | 6th highest of 19 |
| EV / EBITDA | 6.7× | 7.5× | 8th cheapest of 17 |
| Net debt / EBITDA | -0.6× | 1.9× | 2nd least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ryanair Holdings PLC Sponsored ADR RYAAY | United States | $29.5B | +2% | +9% | 13% | 17.0× | 6.4% | +56.7% |
| International Consolidated Airlines IAG.L | United Kingdom | $25.3B | +9% | +4% | 14% | 8.3× | -3.9% | +32.4% |
| United Airlines UAL | United States | $36.6B | +13% | +12% | 6% | 13.6× | 7.8% | +30.9% |
| InterGlobe Aviation INDIGO.NS | India | $22.4B | +22% | +13% | 8% | 105.8× | 25.5% | +42.2% |
| Southwest Airlines LUV | United States | $21.8B | +8% | +14% | 5% | 13.7× | n/a | n/a |
| Singapore Airlines C6L.SI | Singapore | $17.2B | +11% | +5% | 12% | 30.1× | -11.0% | +40.0% |
| Air China 0753.HK | Hong Kong | $15.4B | -27% | +11% | -4% | n/a | 11.7% | +18.9% |
| Delta Air Lines DAL | United States | $57.4B | +19% | +14% | 7% | 13.4× | 9.9% | +30.0% |
| LATAM Airlines Group SA Sponsored ADR LTM | United States | $13.8B | -7% | +21% | 14% | 7.0× | -7.2% | +29.3% |
| China Southern Airlines 1055.HK | Hong Kong | $12.3B | -32% | +12% | 0% | n/a | n/a | n/a |
| Cathay Pacific Airways 0293.HK | Hong Kong | $11.7B | +19% | +20% | 11% | 8.1× | -12.4% | +20.0% |
| Deutsche Lufthansa LHA.DE | Germany | $11.4B | +7% | +8% | -1% | 9.7× | n/a | n/a |
| China Eastern Airlines 0670.HK | Hong Kong | $10.8B | -40% | +13% | -4% | n/a | 18.6% | +18.1% |
| Qantas Airways QAN.AX | Australia | $9.79B | +9% | +8% | 7% | 10.9× | n/a | n/a |
| Ana 9202.T | Japan | $9.77B | +24% | +17% | 8% | 13.1× | -10.0% | +28.4% |
| Japan Airlines 9201.T | Japan | $9.08B | +34% | +10% | 8% | 15.3× | -9.7% | +33.1% |
| American Airlines AAL | United States | $8.73B | -1% | +12% | 2% | n/a | n/a | n/a |
| KAL 003490.KS | South Korea | $7.99B | +20% | +21% | 2% | 21.1× | n/a | n/a |
| Hainan Airlines 600221.SS | China | $7.85B | -20% | +6% | -3% | 24.2× | 5.0% | +18.4% |