RYAAY Q1 2026 Earnings Report — Ryanair Holdings plc Revenue & Financial Results | Market Cap Arena

Ryanair Holdings plcRYAAY

Q1 2026 Earnings

Reported July 21, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2026	Q4 2025	Q1 2025	QoQ Change	YoY Change
Revenue	$5.1B	—	$4.2B	—	19.6%
Op. Income	$1.1B	—	$428M	—	149.7%
Gross Margin	26.2%	—	8.1%	—	18.1pp
Net Margin	18.9%	—	9.9%	—	9.0pp
EPS (Diluted)	$3.58	—	$0.30	—	1076.9%
Free Cash Flow	$977M	—	$731M	—	33.6%

Revenue Flow

Item	Amount
REVENUE	$5.1B
Cost of Revenue	$3.7B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$259M
General & Administrative	$0
SG&A Expenses	$259M
Other Expenses	$0
Operating Expenses	$259M
Cost & Expenses	$4.0B
OPERATING INCOME	$1.1B
Interest Income	$57M
Interest Expense	$0
Other Income/Expenses	$20M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$129M
Net Income from Continuing Ops	$959M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$959M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$959M
D&A	$401M
EBIT	$1.1B
EBITDA	$1.5B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$5.1B
Cost of Revenue	$3.7B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$259M
General & Administrative	$0
SG&A Expenses	$259M
Other Expenses	$0
Operating Expenses	$259M
Cost & Expenses	$4.0B
OPERATING INCOME	$1.1B
Interest Income	$57M
Interest Expense	$0
Other Income/Expenses	$20M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$129M
Net Income from Continuing Ops	$959M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$959M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$959M
D&A	$401M
EBIT	$1.1B
EBITDA	$1.5B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$959M
Depreciation & Amortization	$401M
Stock-Based Compensation	$5M
Deferred Income Tax	$129M
Other Non-Cash Items	$31M
Change in Working Capital	$180M
OPERATING CASH FLOW	$1.7B
Capital Expenditure	-$728M
Acquisitions (Net)	$0
Purchases of Investments	-$742M
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$1.5B
Net Debt Issuance	-$408M
Common Stock Repurchased	-$69M
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	-$476M
FREE CASH FLOW	$977M
Net Change in Cash	-$292M

Balance Sheet

Item	Amount
Cash & Equivalents	$4.2B
Short-Term Investments	$859M
Net Receivables	$113M
Inventory	$6M
Other Current Assets	$2.4B
TOTAL CURRENT ASSETS	$7.6B
PP&E (Net)	$13.0B
Goodwill	$0
Intangible Assets	$171M
Long-Term Investments	$0
Tax Assets	$41M
Other Non-Current Assets	$331M
TOTAL NON-CURRENT ASSETS	$13.6B
TOTAL ASSETS	$21.1B
Account Payables	$673M
Short-Term Debt	$2.4B
Deferred Revenue	$0
Other Current Liabilities	$597M
TOTAL CURRENT LIABILITIES	$11.5B
Long-Term Debt	$172M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$422M
Other Non-Current Liabilities	$314M
TOTAL NON-CURRENT LIABILITIES	$1.0B
TOTAL LIABILITIES	$12.5B
Common Stock	$7M
Additional Paid-In Capital	$1.7B
Retained Earnings	$7.4B
Treasury Stock	$0
Accum. Other Comp. Income	-$447M
Other Equity	$5M
TOTAL STOCKHOLDERS' EQUITY	$8.7B
Minority Interest	$0
TOTAL EQUITY	$8.7B
TOTAL LIABILITIES & EQUITY	$21.1B
Total Debt	$2.7B
Net Debt	-$1.5B