RYAAY

MKT CAP:$30B

Ryanair Holdings plc

Market Cap

$30B

Industrials·Airlines, Airports & Air Services·🇮🇪 Ireland·NASDAQ

Industrials·Airlines,·🇮🇪·NASDAQ

Stock Price

$56.35-$16.15 (-22.27%)

Apr 24, 2026

Company Details

Ryanair Holdings plc, together with its subsidiaries, provides scheduled-passenger airline services in Ireland, the United Kingdom, Italy, Spain, Germany, and other European countries. It is also involved in the provision of various ancilla...

CEO

Michael O'Leary

IPO Date

May 29, 1997

Website

www.ryanair.com

Key Metrics TTM

Revenue

$20.9B

+27.2% YoY

Net Income

$4.8B

EPS (Diluted)

$14.65

Free Cash Flow

$50M

Revenue / Share

$39.04

Gross Margin

34.2%

Operating Margin

25.5%

Net Margin

23.1%

FCF Margin

0.2%

P/S

1.4x

P/E

6.1x

Earnings Reports

Q2 2026

Nov 3, 2025

$6.4B+8.2%EPS $7.53

Q1 2026

Jul 21, 2025

$5.1B+19.6%EPS $3.58

FY 2025

May 19, 2025

$16.3B+3.8%EPS $3.41

Q3 2025

Jan 27, 2025

$3.5BEPS $0.32

Q2 2025

Nov 4, 2024

$5.9B+2.8%EPS $3.23

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$399M	-$329M	-$389M
Q1 22	$433M	-$272M	-$356M
Q2 22	$2.1B	$410M	$297M
Q3 22	$1.7B	-$3M	-$136M
Q4 22	$1.4B	$7M	-$202M
Q1 23	$3.0B	$483M	$280M
Q2 23	$4.7B	$1.7B	$1.5B
Q3 23	$2.7B	$364M	$177M
Q4 23	$2.2B	$33M	-$262M
Q1 24	$4.2B	$684M	$428M
Q2 24	$5.8B	$2.6B	$2.0B
Q1 25	$4.2B	$343M	$428M
Q2 25	$5.9B	$2.2B	$1.9B
Q3 25	$3.5B	$655M	$38M
Q1 26	$5.1B	$1.3B	$1.1B
Q2 26	$6.4B	$2.9B	$2.3B

Valuation

Quarter	P/S	P/E
Q3 21	2.1x	—
Q1 22	2.6x	—
Q2 22	3.3x	—
Q3 22	1.6x	—
Q4 22	1.0x	—
Q1 23	0.8x	25.8x
Q2 23	0.5x	4.3x
Q3 23	0.5x	3.8x
Q4 23	0.7x	5.5x
Q1 24	0.7x	5.8x
Q2 24	0.6x	3.9x
Q1 25	0.6x	4.2x
Q2 25	0.5x	2.4x
Q3 25	0.5x	2.4x
Q1 26	0.7x	3.8x
Q2 26	0.6x	2.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	-$1.0B	-$1.2B
Q1 22	$695M	$599M
Q2 22	$521M	$252M
Q3 22	-$155M	-$707M
Q4 22	$1.2B	$743M
Q1 23	$1.6B	$1.2B
Q2 23	$405M	-$161M
Q3 23	-$44M	-$478M
Q4 23	$2.5B	$1.8B
Q1 24	$1.3B	$731M
Q2 24	$455M	-$155M
Q1 25	$1.3B	$731M
Q2 25	$64M	-$389M
Q3 25	-$101M	-$339M
Q1 26	$1.7B	$977M
Q2 26	$375M	-$198M

Capital Expenditures

Quarter	CapEx
Q3 21	$165M
Q1 22	$96M
Q2 22	$268M
Q3 22	$552M
Q4 22	$466M
Q1 23	$487M
Q2 23	$565M
Q3 23	$434M
Q4 23	$753M
Q1 24	$586M
Q2 24	$610M
Q1 25	$586M
Q2 25	$454M
Q3 25	$237M
Q1 26	$728M
Q2 26	$573M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	-78.4%	-59.2%
Q1 22	-71.0%	-54.9%
Q2 22	-22.8%	-24.9%
Q3 22	+1074.0%	+407.2%
Q4 22	+244.7%	+100.2%
Q1 23	+602.2%	+249.9%
Q2 23	+125.0%	+79.0%
Q3 23	+57.3%	+36.2%
Q4 23	+57.0%	+53.6%
Q1 24	+39.4%	+38.0%
Q2 24	+22.7%	+17.6%
Q1 25	+56.8%	+50.9%
Q2 25	+174.3%	+65.0%
Q3 25	-18.4%	-10.2%
Q1 26	-11.9%	+6.3%
Q2 26	+51.1%	+8.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$1M	0.3%
Q1 22	$3M	0.6%
Q2 22	$3M	0.2%
Q3 22	$3M	0.2%
Q4 22	$1M	0.1%
Q1 23	$3M	0.1%
Q2 23	$7M	0.1%
Q3 23	$3M	0.1%
Q4 23	$6M	0.3%
Q1 24	$3M	0.1%
Q2 24	$5M	0.1%
Q1 25	$3M	0.1%
Q2 25	$6M	0.1%
Q3 25	$3M	0.1%
Q1 26	$5M	0.1%
Q2 26	$5M	0.1%

OpEx Breakdown

Quarter	G&A	S&M
Q3 21	—	$60M
Q1 22	—	$84M
Q2 22	—	$113M
Q3 22	—	$134M
Q4 22	$57M	$151M
Q1 23	—	$203M
Q2 23	—	$226M
Q3 23	—	$187M
Q4 23	$124M	$172M
Q1 24	—	$256M
Q2 24	—	$280M
Q1 25	—	$256M
Q2 25	—	$289M
Q3 25	—	$276M
Q1 26	—	$259M
Q2 26	—	$254M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$3.1B	$1.1B	$4.2B
Q1 23	$1.8B	$3.6B	$5.4B
Q2 23	$2.0B	$3.3B	$5.3B
Q3 23	$2.7B	$2.1B	$4.7B
Q4 23	$4.2B	$1.2B	$5.4B
Q1 24	$3.5B	$2.2B	$5.6B
Q2 24	$3.4B	$469M	$3.9B
Q3 24	$2.9B	$444M	$3.4B
Q4 24	$4.5B	$278M	$4.8B
Q1 25	$4.6B	$615M	$5.2B
Q2 25	$3.4B	$469M	$3.9B
Q3 25	$3.2B	$0	$3.2B
Q4 25	$4.5B	$117M	$4.6B
Q1 26	$4.2B	$859M	$5.1B
Q2 26	$3.5B	$0	$3.5B
Q3 26	$2.8B	$0	$2.8B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	563M	+3.4%	-2.5%
Q1 22	564M	+0.2%	-0.5%
Q2 22	570M	+1.0%	+0.2%
Q3 22	566M	-0.7%	+3.8%
Q4 22	426M	-24.7%	-24.3%
Q1 23	570M	+33.7%	+1.0%
Q2 23	569M	-0.1%	-0.1%
Q3 23	570M	+0.2%	+0.7%
Q4 23	428M	-24.8%	+0.5%
Q1 24	572M	+33.5%	+0.4%
Q2 24	572M	+0.0%	+0.6%
Q1 25	558M	-2.5%	-2.0%
Q2 25	565M	+1.2%	+31.8%
Q3 25	543M	-3.8%	-5.0%
Q1 26	535M	-1.5%	-6.5%
Q2 26	534M	-0.2%	-4.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$6M	64
Q1 22	$6M	67
Q2 22	$31M	67
Q3 22	$26M	67
Q4 22	$21M	67
Q1 23	$45M	67
Q2 23	$70M	67
Q3 23	$40M	67
Q4 23	$32M	67
Q1 24	$63M	67
Q2 24	$86M	67
Q1 25	$63M	67
Q2 25	$88M	67
Q3 25	$52M	67
Q1 26	$76M	67
Q2 26	$96M	67

Revenue / Employee