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Finnair Valuation Multiples

Discover revenue and EBITDA valuation multiples for Finnair and similar public comparables like flyExclusive, Qantas Airways, and Bangkok Airways.

Finnair Overview

About Finnair

Finnair Oyj is a Finland-based airline company that provides air transport operations and supporting services. The company is engaged in delivering services for scheduled passenger and charter traffic as well as cargo sales, customer service and service concepts, flight operations, and activities connected with the procurement and financing of aircraft. The company also provides travel services which consist of travel agency operations as well as tour operations and travel sector software business operations. Its travel services provide various traveling packages to customers through its travel operators and travel agencies, also its support services include catering services, Aircraft maintenance, ground handling, and Airline training.


Founded

1923

HQ

Finland
Employees

5.5K+

Sectors

Airlines

Financials

LTM Revenue $3.7B

LTM EBITDA $542M

EV

$1.6B

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Finnair Financials

Finnair has a last 12-month revenue (LTM) of $3.7B and a last 12-month EBITDA of $542M.

In the most recent fiscal year, Finnair achieved revenue of $3.6B and an EBITDA of $554M.

Finnair expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Finnair P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $3.7B XXX $3.6B XXX XXX XXX
Gross Profit n/a XXX $391M XXX XXX XXX
Gross Margin n/a XXX 11% XXX XXX XXX
EBITDA $542M XXX $554M XXX XXX XXX
EBITDA Margin 15% XXX 16% XXX XXX XXX
EBIT $150M XXX $135M XXX XXX XXX
EBIT Margin 4% XXX 4% XXX XXX XXX
Net Profit $48.3M XXX $43.4M XXX XXX XXX
Net Margin 1% XXX 1% XXX XXX XXX
Net Debt XXX XXX $752M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Finnair Stock Performance

As of July 1, 2025, Finnair's stock price is EUR 3 (or $3).

Finnair has current market cap of EUR 549M (or $644M), and EV of EUR 1.4B (or $1.6B).

See Finnair trading valuation data

Finnair Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$1.6B $644M XXX XXX XXX XXX $0.28

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Finnair Valuation Multiples

As of July 1, 2025, Finnair has market cap of $644M and EV of $1.6B.

Finnair's trades at 0.4x EV/Revenue multiple, and 2.9x EV/EBITDA.

Equity research analysts estimate Finnair's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Finnair has a P/E ratio of 13.3x.

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Finnair Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $644M XXX $644M XXX XXX XXX
EV (current) $1.6B XXX $1.6B XXX XXX XXX
EV/Revenue 0.4x XXX 0.4x XXX XXX XXX
EV/EBITDA 2.9x XXX 2.9x XXX XXX XXX
EV/EBIT 10.6x XXX 11.7x XXX XXX XXX
EV/Gross Profit n/a XXX n/a XXX XXX XXX
P/E 13.3x XXX 14.8x XXX XXX XXX
EV/FCF 4.9x XXX 3.6x XXX XXX XXX

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Finnair Margins & Growth Rates

Finnair's last 12 month revenue growth is 4%

Finnair's revenue per employee in the last FY averaged $0.6M, while opex per employee averaged $46K for the same period.

Finnair's rule of 40 is 23% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Finnair's rule of X is 25% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Finnair Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 4% XXX 4% XXX XXX XXX
EBITDA Margin 15% XXX 16% XXX XXX XXX
EBITDA Growth 3% XXX -12% XXX XXX XXX
Rule of 40 23% XXX 20% XXX XXX XXX
Bessemer Rule of X XXX XXX 25% XXX XXX XXX
Revenue per Employee XXX XXX $0.6M XXX XXX XXX
Opex per Employee XXX XXX $46K XXX XXX XXX
S&M Expenses to Revenue XXX XXX 4% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 7% XXX XXX XXX

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Finnair Public Comps

See public comps and valuation multiples for Airlines comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
flyExclusive XXX XXX XXX XXX XXX XXX
Qantas Airways XXX XXX XXX XXX XXX XXX
Aegean Airlines XXX XXX XXX XXX XXX XXX
Asia Aviation XXX XXX XXX XXX XXX XXX
Bangkok Airways XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Finnair M&A and Investment Activity

Finnair acquired  XXX companies to date.

Last acquisition by Finnair was  XXXXXXXX, XXXXX XXXXX XXXXXX . Finnair acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Finnair

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Finnair

When was Finnair founded? Finnair was founded in 1923.
Where is Finnair headquartered? Finnair is headquartered in Finland.
How many employees does Finnair have? As of today, Finnair has 5.5K+ employees.
Who is the CEO of Finnair? Finnair's CEO is Mr. Turkka Kuusisto.
Is Finnair publicy listed? Yes, Finnair is a public company listed on HEL.
What is the stock symbol of Finnair? Finnair trades under FIA1S ticker.
When did Finnair go public? Finnair went public in 1989.
Who are competitors of Finnair? Similar companies to Finnair include e.g. flyExclusive, Qantas Airways, Aegean Airlines, Asia Aviation.
What is the current market cap of Finnair? Finnair's current market cap is $644M
What is the current revenue of Finnair? Finnair's last 12 months revenue is $3.7B.
What is the current revenue growth of Finnair? Finnair revenue growth (NTM/LTM) is 4%.
What is the current EV/Revenue multiple of Finnair? Current revenue multiple of Finnair is 0.4x.
Is Finnair profitable? Yes, Finnair is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Finnair? Finnair's last 12 months EBITDA is $542M.
What is Finnair's EBITDA margin? Finnair's last 12 months EBITDA margin is 15%.
What is the current EV/EBITDA multiple of Finnair? Current EBITDA multiple of Finnair is 2.9x.
What is the current FCF of Finnair? Finnair's last 12 months FCF is $321M.
What is Finnair's FCF margin? Finnair's last 12 months FCF margin is 9%.
What is the current EV/FCF multiple of Finnair? Current FCF multiple of Finnair is 4.9x.

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