Added to YB: 2025-05-29
Pitch date: 2025-05-28
FRA.DE [bullish]
Fraport AG
+15.45%
current return
Author Info
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Company Info
Fraport AG owns and operates airports in Germany, rest of Europe, Asia, and the United States. It primarily focuses on the operation of Frankfurt Main airport.
Market Cap
EUR 5.5B
Pitch Price
EUR 60.20
Price Target
89.20 (+28%)
Dividend
N/A
EV/EBITDA
11.80
P/E
13.12
EV/Sales
3.37
Sector
Transportation Infrastructure
Category
value
Fraport (ISIN: DE0005773303)- An essential Infrastructure play geared up to 'fly away' ?
FRA.DE: Airport operator trading at ~12x P/E & 1.1x book vs peers at 16+x P/E & 2-4x book. Catalysts: dividend restart 2026, Terminal 3 completion, regulated fee increases of 9.5%/7% in 2024/25. Improving FCF, 20% EBITDA growth by 2027. Risks: high debt (4.8x ND/EBITDA), government ownership, Turkey/Peru exposure.
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