olivLaw · European equity research
Wizz Air Holdings Plc WIZZ.L
United Kingdom · London Stock Exchange · Vertical: Listed companies from United Kingdom
Wizz Air is a low-cost airline with its main base in Central and Eastern Europe, aiming to offer accessible flights at the lowest possible price. In fiscal 2026 total revenue rose to 5691.4 million EUR, but net profit was close to zero amid Middle East conflicts and fuel costs, making the current period a key test of its business model.
At the close of 05 Nov 2026, Wizz Air Holdings Plc (WIZZ.L) stock was 10.38 GBP (−1.42% on the day), with beta 1.39, 52-week range 8.50–14.47 GBP.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 55.7
- strong (55–70)
- Bollinger (20, 2)
- 9.45 – 10.45
- in the upper half of the band · %B 0.93 · band width 10.0%
- SMA 50 / 200
- 10.18 / 10.71
- mixed trend
- MACD (12, 26, 9)
- 0.01 / -0.08
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −0.9% | −0.6% | −0.2 pp | — |
| 3 months | −6.5% | −4.2% | −2.3 pp | — |
| 6 months | +5.1% | +4.3% | +0.7 pp | — |
| Year to date | −18.7% | +7.5% | −26.2 pp | — |
| 1 year | +0.3% | +9.9% | −9.6 pp | +5.8% |
| 3 years | −43.6% | +49.8% | −93.5 pp | +26.3% |
| 5 years | −78.5% | +42.8% | −121.4 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
the price (USD) and the reports are in different currencies
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 5.1 bn | 5.3 bn | 5.7 bn |
| Revenue YoY | unavailable | +3.8% | +8.0% |
| Net income | 376.6 m | 225.8 m | 2.2 m |
| Net income YoY | unavailable | −40.0% | −99.0% |
| Diluted EPS | 2.96 | 1.78 | 0.03 |
| Diluted EPS YoY | unavailable | −39.9% | −98.3% |
| net % | 7.4% | 4.3% | 0.0% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2026 · 31 Mar 2026
- Cash
- 1.1 bn EUR
- Financial debt
- 7.0 bn EUR
- Net debt
- 5.9 bn EUR
- Equity
- 928.4 m EUR
- Total assets
- 11.3 bn EUR
- Debt / equity
- 7.49x
- Current ratio
- 0.97x
- ROE
- 0.4%
- ROA
- 0.0%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 5.1 bn | 5.3 bn | 5.7 bn | esef· 25 Jun 2026verified |
| Operating income | 437.9 m | 167.5 m | 139.7 m | esef· 25 Jun 2026verified |
| Depreciation & amortisation | 755.3 m | 966.8 m | 1.2 bn | esef· 25 Jun 2026verified |
| EBITDA | 1.2 bn ≈ | 1.1 bn ≈ | 1.3 bn ≈ | esef· 25 Jun 2026derived |
| Interest expense | 196.7 m | 249.5 m | 267.8 m | esef· 25 Jun 2026verified |
| Pre-tax income | 341.1 m | 19.7 m | 27.0 m | esef· 25 Jun 2026verified |
| Income tax | -24.8 m | -194.2 m | 25.7 m | esef· 25 Jun 2026verified |
| Net income | 376.6 m | 225.8 m | 2.2 m | esef· 25 Jun 2026verified |
| Diluted EPS | 2.96 | 1.78 | 0.03 | esef· 25 Jun 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · EUR
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Cash | 728.4 m | 597.5 m | 1.1 bn | esef· 25 Jun 2026verified |
| Receivables | 669.6 m | 630.4 m | 687.0 m | esef· 25 Jun 2026verified |
| Inventories | 333.6 m | 271.9 m | 305.7 m | esef· 25 Jun 2026verified |
| Current assets | 2.6 bn | 2.6 bn | 3.4 bn | esef· 25 Jun 2026verified |
| Property, plant & equipment, net | 5.8 bn | 6.5 bn | 7.1 bn | esef· 25 Jun 2026verified |
| Total assets | 8.7 bn | 9.6 bn | 11.3 bn | esef· 25 Jun 2026verified |
| Short-term debt | 1.1 bn | 1.5 bn | 815.9 m | esef· 25 Jun 2026verified |
| Long-term debt | 5.2 bn | 5.1 bn | 6.1 bn | esef· 25 Jun 2026verified |
| Current liabilities | 3.0 bn | 3.8 bn | 3.5 bn | esef· 25 Jun 2026verified |
| Total liabilities | 8.5 bn | 9.3 bn | 10.3 bn | esef· 25 Jun 2026verified |
| Equity | 145.7 m | 317.1 m | 928.4 m | esef· 25 Jun 2026verified |
| Shares outstanding at year end | 103.5 m | 103.6 m | 110.0 m | esef· 25 Jun 2026derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 37.5% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Price and reporting are in different currencies; market indicators are unavailable.
Key indicators
Coverage and freshness
Score by group
38% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.34 – 0.52 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · not enough peers
- Peers: P/E0.34 – 0.52 (Mid 0.43)17 companies used · median multiple 14.4x · quartiles 11.3x – 17.4x0EV1.L, ABDN.L, ABF.L, AIRE.L, AJB.L, ALFA.L, AMIF.L, APTD.L, ASHM.L, AUTO.L, BAB.L, BAG.L, BATS.L, BBY.L, BCG.L, BKG.L, BME.L
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 37.5% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 1.8% | 17 (vs peers) | 28% |
| Net margin · Quality | 0.0% | 26 (vs peers) | 17% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 4.5x | 0 (on a fixed band) | 28% |
| Interest coverage · Balance sheet | 0.5x | 0 (on a fixed band) | 17% |
| Current ratio · Balance sheet | 1.0x | 14 (on a fixed band) | 11% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet3/100 · 3/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality20/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
WIZZ AIR HOLDINGS PLC (WIZZ.L). Latest full fiscal year: 2026; data up to 2026-03-31.
Figures computed from the financial statements: revenue 5.7 bn EUR in 2026; YoY growth 8.0%; net margin 0.0%; ROE 0.3%; net debt/EBITDA 4.5x.
The estimated value range is 0.34–0.52 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 37.5% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- ROIC: 1.8%
- Net margin: 0.0%
- Net debt / EBITDA: 4.5x
- Interest coverage: 0.5x
- Current ratio: 1.0x
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from United Kingdom · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BATS.LBritish American Tobacco P.L.C. | 104.3 bn | 13.5 | 16.5% | 30.3% | −1.0% | +7% / +88% |
| ABF.LAssociated British Foods PLC | 14.7 bn | 14.3 | 9.2% | 5.3% | −3.1% | −5% / −15% |
| 0EV1.LCarnival PLC | 5.5 bn | 4.1 | 46.7% | 13.4% | +6.4% | unavailable / unavailable |
| BAB.LBabcock International Group PLC | 5.1 bn | 24.7 | 34.7% | 4.1% | +7.2% | −10% / +158% |
| AUTO.LAutotrader Group PLC | 4.8 bn | 16.4 | 60.2% | 47.1% | +3.9% | −13% / −23% |
| BBY.LBalfour Beatty PLC | 4.2 bn | 16.3 | 23.2% | 2.8% | +15.2% | +20% / +160% |
| ABDN.LAberdeen Group PLC | 4.1 bn | 10.8 | 8.0% | 28.9% | −2.1% | +11% / +41% |
| BKG.LThe Berkeley Group Holdings PLC | 3.6 bn | 11.3 | 8.8% | 13.4% | −4.2% | −0% / −22% |
| BME.LB&M European Value Retail PLC | 2.9 bn | 17.4 | 21.2% | 2.8% | +3.7% | +68% / −51% |
| AJB.LAj Bell PLC | 2.4 bn | 22.8 | 49.9% | 33.1% | +18.0% | +8% / +128% |
| ASHM.LAshmore Group PLC | 1.4 bn | 13.9 | 13.1% | 71.6% | −0.1% | +28% / +18% |
| BCG.LBaltic Classifieds Group PLC | 1.2 bn | 23.2 | 15.8% | 57.6% | +6.9% | −99% / −99% |
| APN.LApplied Nutrition PLC | 763.6 m | 36.2 | 41.2% | 19.7% | +24.2% | +71% / unavailable |
| BAG.LA.G. Barr P.L.C. | 671.9 m | 14.4 | 14.4% | 10.8% | +4.0% | −7% / +26% |
| ASC.LAsos PLC | 494.5 m | — | -81.3% | -12.0% | −14.7% | +71% / +8% |
| ALFA.LAlfa Financial Software Holdings PLC | 486.8 m | 16.3 | 61.5% | 23.8% | +15.3% | −28% / +10% |
| AML.LAston Martin Lagonda Global Holdings PLC | 344.3 m | — | -93.4% | -39.2% | −20.6% | −45% / −85% |
| APTD.LAptitude Software Group PLC | 111.3 m | 28.5 | 7.2% | 6.2% | −7.3% | −30% / −23% |
| AMGO.LAmigo Holdings PLC | 9.9 m | — | — | — | −81.9% | +325% / +844% |
| ASBE.LAssociated British Engineering PLC | 605.3 k | — | -19.1% | — | unavailable | unavailable / unavailable |
| AMIF.LAmicorp Fs (uk) PLC | 221.6 k | 0.1 | 27.5% | 9.1% | +8.1% | unavailable / unavailable |
| AAF.LAirtel Africa PLC | — | — | 24.1% | 10.6% | +29.5% | −7% / +164% |
| AAL.LAnglo American PLC | — | — | -19.3% | -20.2% | +4.5% | +30% / +76% |
| ACG.LAcg Metals Limited | — | — | -80.3% | -32.0% | +134.8% | +60% / +63% |
| AEP.LAnglo-Eastern Plantations PLC | — | — | 16.1% | 19.5% | +25.0% | +5% / +113% |
1- and 3-year price returns: for WIZZ.L from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Wizz Air is a low-cost airline with its main base in Central and Eastern Europe, aiming to offer accessible flights at the lowest possible price. In fiscal 2026 total revenue rose to 5691.4 million EUR, but net profit was close to zero amid Middle East conflicts and fuel costs, making the current period a key test of its business model.
SWOT
Strengths
- Low-cost model with a young fleet and disciplined unit costs that let the company compete on price and stay profitable in better conditions.
- Record passenger volumes and solid growth in both ticket and ancillary revenue.
- Fuel hedging that partly cushioned the impact of rising prices.
Weaknesses
- Very thin operating margin leaves little room for cost shocks or weaker demand.
- Heavy dependence on fuel costs and the US dollar exchange rate.
- Exposure to route cancellations caused by regional conflicts and airspace restrictions.
Opportunities
- Efficiency gains from newer aircraft and retention of passengers through well-received extra services.
- Full fleet utilisation restored if engine availability improves.
- Central and Eastern European markets that the company sees as having large addressable potential.
Threats
- Volatility in jet fuel and currency markets that can quickly erode margins.
- Aggressive competition from state-backed carriers and other low-cost rivals.
- Conflicts in Ukraine and the Middle East that can close or restrict important routes.
Risks
- Fuel price riskhigh
Sharp jet fuel price rises could compress margins, although hedging limits part of the exposure.
- Currency riskmedium
A stronger US dollar against the euro could weigh on results, since many payments are in dollars.
- Geopolitical riskhigh
Regional conflicts have already caused flight suspensions and could bring further airspace restrictions.
- Fleet riskmedium
Engine inspections can ground aircraft and delay growth plans.
- Governance risklow
Indigo's influence over the board and possible conversion of its convertible notes could change the control structure.
Investment thesis
What would need to be true (bull case)
- If fuel prices stabilise, operating margin could gradually recover, supported by growing capacity and ancillary revenue.
- A young fleet and improving fuel efficiency could lower unit costs over the longer term.
- Record passenger numbers suggest the low-cost model has traction in its core markets.
What would break the thesis
- Near-zero net profit and a 2.5 percent operating margin leave little buffer against shocks.
- If Middle East tensions persist, route cancellations could keep weighing on revenue.
- Rising maintenance and air navigation costs could erode the company's cost advantage.
What to watch
- Jet fuel price trend and effectiveness of hedging coverQ1 2027
- Recovery of fleet utilisation as engine availability improves2027
- Capacity and route development toward the Middle East2027
- Operating margin and net profit in the next annual reportnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Wizz Air Holdings Plc defines its purpose around no-frills flights, accessible to everyone, at the lowest price possible and with the lowest emissions possible 1. In fiscal 2026 the company carried a record 69.7 million passengers 1, while seat capacity grew 10.5 percent to 76.9 million seats 1. Its revenue model combines ticket fares with ancillary services such as bags, reserved seating and the All You Can Fly subscription 1.
The company reports in euros but transacts in over 20 currencies, with a large share of payments in US dollars, making it sensitive to the EUR/USD rate 1. Indigo held 14.2 percent of shares together as of 31 March 2026 1, and a relationship agreement governs its independence as a controlling shareholder 1.
Fiscal 2026 results show an operating margin of only 2.5 percent, down from the prior year 1. The company attributes the pressure to cancelled Tel Aviv and Middle East routes and higher maintenance and air navigation costs 1.
Segments
Route network
The company refocused its network on core Central and Eastern European markets and reduced capacity to the Middle East, a move that could stabilise yields if regional tensions ease 1.
Market context
IATA projects a global airline net profit margin of 3.9 percent for 2026, an improvement on earlier years 1. Jet kerosene was expected to average about 88 dollars per barrel in 2026, but volatility rose after tensions involving Iran escalated 1.
Demand remains solid in Central and Eastern Europe, but conflicts in Ukraine and the Middle East have closed or limited important routes 1. If fuel costs ease, the company could recover margin, though geopolitical uncertainty remains high 1.
Trends
- Fuel price volatilityheadwind
Jet fuel prices became more volatile after tensions with Iran and trended above the projected average; hedging partly mitigates the impact 1.
- Pratt & Whitney engine inspectionsheadwind
GTF engine inspections have grounded part of the fleet, and the company has added spare engines and extended leases on unaffected aircraft 1.
- Improving fuel efficiencytailwind
Fuel consumption per block hour fell as a larger share of the fleet consists of NEO aircraft 1.
- Emissions regulationmixed
Costs under EU and UK ETS and CORSIA rose sharply, and the EU sustainable aviation fuel mandate adds expense while also creating decarbonisation opportunities 1.
Competitive position
Competitors protect or gain share with discounted fares and more attractive schedules, and some are majority-owned by states 1. The company argues that in tough conditions the lowest-cost carrier wins, making it sensitive to price pressure 1.
Competition can reduce revenue, so the company monitors rivals' actions and route performance closely 1. Its stated advantage rests on ever-lower costs and a loyal customer base 1.
- Ryanair
Major European low-cost rival; not named in the supplied filing, so this is contextual only.
- easyJet
European low-cost rival with overlapping routes; not named in the supplied filing.
- State-owned carriers
Airlines in which states are large or majority shareholders and can offer aggressive fares, per the filing 1.
- Regional carriers
Rivals offering discounted fares and attractive schedules on Central and Eastern European routes 1.
News & filings
In the press
- „E doar începutul”. Cine ar fi în spatele alertelor cu bombă din avioanele europeneMediafax · 06 Nov 2026 · RO
- Disruption Continues As Bomb Threats Hit European Aviation For The Third Day This WeekSimple Flying · 06 Nov 2026 · EN
- Dan Air a intrat în insolvență. Tribunalul București a respins cererea companiei de a recupera banii reținuți de NetopiaLibertatea.ro · 06 Nov 2026 · RO
- Valul de amenințări cu bombă se extinde în Europa. Avioane de luptă ridicate de la sol, suspiciuni de război psihologicSpotMedia.ro · 06 Nov 2026 · RO
- Gruparea extremistă rusă „Statul Masculin” neagă implicarea în valul de amenințări false cu bombă din EuropaG4Media · 06 Nov 2026 · RO
- Noi alerte cu bombă vizează zboruri în Europa: O cursă Wizz Air Praga–Roma, deviată la Veneția / Amenințări raportate și în Franța, Cehia și DanemarcaG4Media · 06 Nov 2026 · RO
- Alertă cu bombă într-un avion TAROM cu 102 pasageri, care venea de la Praga spre BucureștiLibertatea.ro · 06 Nov 2026 · RO
- Poliția investighează noi amenințări la adresa traficului aerian pe aeroportul din Copenhaga. Autoritățile spun că pasagerii nu sunt în pericolMediafax · 06 Nov 2026 · RO
- Alertă de bombă la o cursă Tarom, de la Praga la București. Avionul, cu 102 pasageri la bord, a aterizat pe Otopeni. CNAB: Traficul aerian se desfășoară în siguranță, fără problemeEconomedia · 06 Nov 2026 · RO
- Update. Alertă de bombă la o cursă Tarom, de la Praga la București. Avionul, cu 102 pasageri la bord, a aterizat pe Otopeni. CNAB: Amenințarea s-a dovedit a fi falsăEconomedia · 06 Nov 2026 · RO
- O nouă amenințare cu bombă la bordul unui avion care a aterizat pe Aeroportul Otopeni, vineri la prânz. Este vorba de cursa Tarom, de la Praga. Joi, patru amenințări cu bombă au vizat avioane de pe Aeroportul Otopeni.Biziday.ro · 06 Nov 2026 · RO
- Încă o alertă cu bombă pe Otopeni. E vizat un avion TAROMSpotMedia.ro · 06 Nov 2026 · RO
- Nouă alertă cu bombă: O cursă TAROM pe ruta Praga-București, vizatăMediafax · 06 Nov 2026 · RO
- Aer Lingus pilot under investigation for initially refusing to land during bomb threatSurge — GDELT DOC · 06 Nov 2026 · RO
- UPDATE/Un nou val de amenințări false cu bombă a afectat zeci de zboruri și aeroporturi europene (sinteză) - AgerpresAgerpres · 05 Nov 2026 · RO
- Noi amenințări cu bombă. Piloții unui zbor KLM spre Tel Aviv au cerut control pirotehnicMediafax · 05 Nov 2026 · RO
- VIDEO: Luca Niculescu, întrebat dacă va renegocia contractul cu Rheinmetall: „Este un subiect sensibil. Până nu am toate datele, nu pot spune” - Antena 3Antena 3 CNN · 05 Nov 2026 · RO
- Seria ameninţărilor cu bombe continuă - DW.comDW (Deutsche Welle) — Europe · 05 Nov 2026 · EN
- Cine se află în spatele valului de amenințări cu bombă care a afectat 20 de zboruri: „Cerul vostru va deveni roșu”Libertatea.ro · 05 Nov 2026 · RO
- Fighter Jets Scrambled As More Bomb Threats Force Multiple Passenger Flights To DivertSimple Flying · 05 Nov 2026 · EN
Annual reports (ESEF)
- Annual report 202625 Jun 2026
- Annual report 202510 Jun 2025
Sources
- [1] Annual report, fiscal year ended 2026-03-31 (ESEF) · SEC / Wizz Air Holdings Plc · 31 Mar 2026
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.