Ryanair Holdings plc
- Open
- 55.48
- Day high
- 55.70
- Day low
- 55.37
- Prev close
- 56.13
- Volume
- 523K
- Mkt cap
- $28.7B
- P/E (TTM)
- 7.0
- EPS (TTM)
- $7.87
- P/B
- 2.6
- P/S
- 1.6
- Yield
- 2.34%
- Per share
- $1.30
- ▼Insiders net selling -$469K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions mixed (13F)
Ryanair Holdings plc (RYAAY) is a Industrials company listed on NASDAQ. The stock is down 9% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
Ryanair Holdings plc (RYAAY) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
RYAAY earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 20, 2026 | $1.25 | $1.19 | -4.8% | $5.0B | -1.2% |
| May 18, 2026 | $-0.95 | $-0.86 | +9.5% | $2.9B | -5.1% |
| Jan 26, 2026 | $0.15 | $0.26 | +73.3% | $3.8B | +55.3% |
| May 19, 2025 | $-0.65 | $-0.59 | +9.2% | $2.5B | -35.9% |
| Jan 27, 2025 | $0.05 | $0.29 | +480.0% | $3.1B | -2.8% |
| Jul 22, 2024 | $1.16 | $0.68 | -41.4% | $3.9B | -30.6% |
| May 20, 2024 | $-0.53 | $-0.52 | +1.9% | $2.3B | +0.8% |
| Jan 29, 2024 | $0.14 | $0.03 | -78.6% | $3.0B | +0.5% |
| Jul 24, 2023 | $0.90 | $1.26 | +40.0% | $4.0B | +0.3% |
| May 22, 2023 | $-0.40 | $-0.29 | +27.5% | $2.0B | +2.0% |
| Jan 30, 2023 | $0.36 | $0.38 | +5.6% | $2.5B | -1.2% |
| Jul 25, 2022 | $0.28 | $0.32 | +14.3% | $2.7B | +3.6% |
RYAAY insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 30, 2026 | Hurley John JHofficer: Ryanair DAC CTO | Sell | 15,000 | $31.24 |
| May 26, 2026 | McGuinness Jason Paulofficer: Ryanair DAC CCO | Sell | 9,999 | $27.56 |
| May 21, 2026 | Sorahan Neil Michaelofficer: Group CFO | Option | 61,412 | — |
| May 21, 2026 | Komorek Juliusz Grzegorzofficer: Group CLO & Company Secretary | Option | 46,059 | — |
| May 21, 2026 | Komorek Juliusz Grzegorzofficer: Group CLO & Company Secretary | Sell | 14,053 | $26.01 |
| May 21, 2026 | Hurley John JHofficer: Ryanair DAC CTO | Option | 34,545 | — |
| May 21, 2026 | McCann Traceyofficer: Ryanair DAC CFO | Option | 26,867 | — |
| May 21, 2026 | McCann Traceyofficer: Ryanair DAC CFO | Sell | 8,197 | $26.01 |
| May 21, 2026 | McGuinness Jason Paulofficer: Ryanair DAC CCO | Option | 26,867 | — |
| May 21, 2026 | McGuinness Jason Paulofficer: Ryanair DAC CCO | Sell | 12,562 | $26.01 |
| May 21, 2026 | Wilson Eddie Josephofficer: Ryanair DAC CEO | Option | 69,088 | — |
| May 21, 2026 | Wilson Eddie Josephofficer: Ryanair DAC CEO | Sell | 21,080 | $26.01 |
| May 21, 2026 | McMahon Nealofficer: Ryanair DAC COO | Option | 30,706 | — |
| May 21, 2026 | O'Brien David Patrick DPOofficer: See Remarks | Sell | 8,080 | $26.01 |
| May 21, 2026 | Hughes Darrell Thomasofficer: Ryanair DAC CPO | Option | 26,867 | — |
Source: RYAAY SEC Form 4 filings, latest Jun 30, 2026. For informational purposes only — not investment advice.
See the full RYAAY insider & 13F page →Ryanair Holdings plc company profile
Overview
Ryanair Holdings plc (NASDAQ:RYAAY) is Europe's largest low-cost airline, founded in 1985 and headquartered in Swords, Ireland. The company has grown from a small Irish carrier to become a dominant force in European aviation, operating a fleet of over 500 aircraft and serving approximately 225 airports across Europe. Ryanair went public in 1997 and has built its business model around providing no-frills, point-to-point air travel at extremely competitive prices, fundamentally transforming the European aviation landscape by making air travel accessible to millions of price-conscious consumers.
Business
Ryanair operates as a low-cost carrier in the European short-haul aviation market, providing scheduled passenger airline services across Ireland, the United Kingdom, Italy, Spain, Germany, and other European countries. The company's core business revolves around offering basic air transportation services at the lowest possible fares, typically operating point-to-point routes between secondary airports to minimize costs. The airline industry operates on a hub-and-spoke or point-to-point model, where carriers transport passengers between destinations using aircraft. Traditional airlines offer premium services, multiple cabin classes, and operate through major airports, while low-cost carriers like Ryanair strip away these amenities to offer rock-bottom prices. Ryanair's fleet consists primarily of Boeing 737 aircraft, including newer fuel-efficient "Gamechanger" variants that carry 4% more passengers while burning 16% less fuel. Beyond basic transportation, Ryanair generates significant revenue from ancillary services, which include in-flight sales of food, beverages, and merchandise, priority boarding, seat selection, baggage fees, and third-party services marketed through their platform such as car rentals, hotel bookings, travel insurance, and airport transfers. These ancillary revenues have grown to represent a substantial portion of the company's total income, reaching over €1 billion in recent quarters and averaging around €23-24 per passenger. The company operates essentially as a single business segment focused on short-haul European flights, with passenger transportation representing the primary revenue stream supplemented by these high-margin ancillary services.
Revenue model
Ryanair generates revenue through multiple complementary streams within its low-cost airline model. Primary revenue comes from passenger ticket sales, where the company sells seats at aggressively low base fares to fill aircraft and maximize load factors, typically achieving load factors around 94%. The airline's strategy involves stimulating demand through rock-bottom pricing while maintaining high aircraft utilization rates. Ancillary revenue represents a crucial profit driver, generating over €1 billion quarterly through various fee-based services. These include baggage fees, seat selection charges, priority boarding, in-flight food and beverage sales, duty-free merchandise, and commissions from third-party services like car rentals, hotels, and travel insurance sold through Ryanair's website and mobile app. This ancillary revenue model allows the company to advertise extremely low base fares while generating substantial additional income from passengers who opt for extra services. The company's paying customers are primarily leisure travelers and price-sensitive business travelers across Europe who prioritize low fares over premium amenities. Ryanair has also developed partnerships with Online Travel Agencies (OTAs), integrating with over 90% of major OTAs to expand distribution channels while maintaining control over pricing and customer relationships. Several factors influence Ryanair's profitability margins. Fuel costs represent the largest expense, making fuel price volatility and hedging strategies critical to profitability. The company typically hedges 70-80% of its fuel requirements to manage this risk. Aircraft delivery schedules significantly impact growth plans and unit costs, with Boeing delivery delays forcing traffic target revisions. Regulatory environment affects operations through aviation taxes, environmental regulations, and air traffic control efficiency. Competitive capacity influences pricing power, with Ryanair benefiting from competitors' capacity constraints due to aircraft delivery delays and engine maintenance issues. Economic conditions impact consumer spending on travel, though Ryanair's low-cost position typically provides resilience during economic downturns as consumers become more price-sensitive.
Competitive moat
Ryanair possesses a strong competitive moat built primarily on its structural cost advantages and operational scale. The company maintains the lowest unit costs in European aviation, with ex-fuel costs around €30-31 per passenger, significantly below traditional carriers. This cost advantage stems from several factors: operating a single aircraft type (Boeing 737) reduces maintenance and training costs, utilizing secondary airports with lower fees, maintaining high aircraft utilization rates, and implementing strict cost discipline across all operations. The airline's scale advantages are substantial, operating over 500 aircraft and carrying nearly 200 million passengers annually, providing significant negotiating power with suppliers, airports, and service providers. This scale also enables efficient route network optimization and allows the company to absorb fixed costs across a large passenger base. Ryanair's brand recognition as Europe's leading low-cost carrier creates customer loyalty among price-sensitive travelers, while its direct booking platform reduces distribution costs and maintains customer relationships. The company's financial strength, with strong cash generation and balance sheet flexibility, enables it to weather industry downturns and capitalize on competitors' weaknesses. However, the moat faces several challenges. Regulatory risks include potential aviation taxes, environmental regulations, and ownership restrictions that could impact operations. Infrastructure constraints such as air traffic control delays and airport capacity limitations affect the entire industry but can disproportionately impact high-frequency operators like Ryanair. Aircraft manufacturer dependencies, particularly on Boeing, create delivery risk and limit fleet flexibility. Competitive threats emerge from other low-cost carriers expanding in European markets and traditional airlines launching their own low-cost subsidiaries. Additionally, the company's reputation for aggressive cost-cutting and fee structures sometimes generates negative publicity that could impact customer relationships. Despite these challenges, Ryanair's cost leadership position and operational scale provide a relatively strong defensive moat in the European short-haul market.
Risks & safety
Ryanair demonstrates a strong margin of safety with robust financial fundamentals and conservative capital management, though seasonal cash flow patterns require monitoring. • Liquidity and Solvency: Strong cash position with €2.9 billion in cash and short-term investments as of Q3 2025, providing substantial operating flexibility. Current ratio of 0.86 reflects typical airline working capital patterns with advance bookings creating current liabilities. Debt-to-equity ratio of 0.33 indicates conservative leverage levels for the airline industry. • Cash Flow: Seasonal negative free cash flow of -€304 million in Q3 2025 is normal for airlines during winter months, offset by strong positive cash generation during peak summer travel periods. Historical operating cash flow of €3.4 billion in FY 2024 demonstrates strong underlying cash generation capability. • Valuation Metrics: Trading at P/E ratio of 15.4x based on Q3 earnings, reasonable for a cyclical business with growth prospects. Price-to-book ratio of 1.12x suggests modest valuation relative to book value. Enterprise value metrics vary significantly due to seasonal EBITDA fluctuations. • Other Considerations: Active share buyback program with €800 million authorization demonstrates management confidence and capital return commitment. Fuel hedging at $77 per barrel for FY 2026 provides cost predictability. Boeing delivery delays create operational challenges but limited financial risk given strong balance sheet position.
Recent development
Over the past few years, Ryanair has pursued several key strategic initiatives while navigating significant operational challenges. The company has been modernizing its fleet with Boeing 737 Gamechanger aircraft, which offer 4% more seats and burn 16% less fuel than older models. However, Boeing delivery delays have forced multiple revisions to growth targets, with FY 2026 passenger targets reduced from 215 million to 206 million passengers. A major strategic pivot involved resolving disputes with Online Travel Agencies (OTAs), with management successfully integrating with over 90% of major OTAs after previously restricting their access. This integration has improved booking volumes and pricing power while expanding distribution channels beyond Ryanair's direct platform. The company has implemented significant sustainability initiatives, upgrading its ESG ratings to MSCI A-rated and targeting 12.5% sustainable aviation fuel usage by 2030. Ryanair has also committed to reducing CO2 emissions per passenger by 10% by 2030 through fleet modernization and operational improvements. Operational resilience improvements have become a focus area, with investments in crew ratios, IT systems, and operational control centers to manage the increasing complexity of European air traffic control delays and infrastructure constraints. The company has also been strategically reallocating capacity away from high-tax markets like the UK, France, and Germany toward more favorable regulatory environments. Financial strategy has emphasized shareholder returns, with the company completing multiple share buyback programs totaling over €1.5 billion and introducing its first dividend payments, marking a shift from pure growth reinvestment to balanced capital allocation. Management has also been exploring potential changes to ownership and control restrictions to provide more strategic flexibility.
RYAAY company profile · for informational purposes only — not investment advice.
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