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Kenya AirwaysNAI:KQ 63 EV-to-FCF is 22.87 as of Jul. 19, 2026, which is 23% below its 10-year median of 29.86. GuruFocus rates NAI:KQ with a GF Score™ of 63/100 and a GF Value™ of KES3.72 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 672 Transportation companies, Kenya Airways ranks worse than 67.71% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Kenya Airways's Enterprise Value is KES227,051 Mil.
Kenya Airways's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was KES9,930 Mil. Therefore, Kenya Airways's EV-to-FCF for today is 22.87.
The historical rank and industry rank for Kenya Airways's EV-to-FCF or its related term are showing as below:
NAI:KQ'
s EV-to-FCF Range Over the Past 10 Years
Min: 11.32 Med: 29.86 Max: 246.97
Current: 22.87
During the past 13 years, the highest EV-to-FCF of Kenya Airways was 246.97. The lowest was 11.32. And the median was 29.86.
NAI:KQ's EV-to-FCF is ranked worse than 67.71% of 672
companies
in the Transportation industry
Industry Median: 14.205
vs NAI:KQ: 22.87
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Kenya Airways's PE Ratio (TTM) for today is calculated as:
Kenya Airways's share price for today is KES5.70.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Kenya Airways's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was KES0.950.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Kenya Airways EV-to-FCF Related Terms
Kenya Airways EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Kenya Airways's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Airlines subindustry, Kenya Airways's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Kenya Airways EV-to-FCF vs Transportation Industry
For the Transportation industry and Industrials sector, Kenya Airways's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Kenya Airways's EV-to-FCF falls into.
Kenya Airways's current Enterprise Value is KES227,051 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Kenya Airways's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was KES9,930 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Kenya Airways (NAI:KQ) has a EV-to-FCF of 22.87 as of Jul. 19, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Kenya Airways and its competitors. This is 23% below median its historical median of 29.86. Over the past decade, Kenya Airways' EV-to-FCF has ranged from 11.32 to 246.97. According to the industry distribution chart, Kenya Airways ranks #455 out of 672 companies in the Transportation industry, placing it in the top 67.7%.
Is Kenya Airways' EV-to-FCF too high?
Kenya Airways' current EV-to-FCF of 22.87 is 23% below median its 10-year median of 29.86. Over the past 10 years, this metric has ranged from a low of 11.32 to a high of 246.97. The Transportation industry median EV-to-FCF is 14.21. Kenya Airways' value of 22.87 is 61% above this industry median. Based on the distribution chart, Kenya Airways ranks #455 out of 672 companies in the Transportation industry, which is below the industry midpoint. Overall, Kenya Airways has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kenya Airways' EV-to-FCF compare to DAL and UAL?
According to the Transportation industry distribution chart, Kenya Airways ranks #455 out of 672 companies for EV-to-FCF. This places Kenya Airways in the lower half of its industry. The industry median EV-to-FCF is 14.21. Kenya Airways' value of 22.87 is 61% above this benchmark. Historically, Kenya Airways' own EV-to-FCF has ranged from 11.32 to 246.97 over the past decade. While the company's 10-year median is 29.86 vs. the industry median of 14.21, Kenya Airways has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a Transportation company?
The median EV-to-FCF among Transportation companies is 14.21, based on 672 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Kenya Airways's current EV-to-FCF of 22.87 is 61% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Kenya Airways and its competitors. For the Transportation industry, the median EV-to-FCF is 14.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kenya Airways's current EV-to-FCF is 22.87, which is 23% below median its own 10-year median of 29.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kenya Airways stock overvalued right now?
Based on GuruFocus' analysis, Kenya Airways (NAI:KQ) is currently considered Significantly Overvalued. The stock's GF Value™ is KES3.72, compared to a current price of KES5.70 — trading 53.2% above its estimated fair value. The current EV-to-FCF is 22.87, which is 23% below median its 10-year median of 29.86 and 61% above the Transportation industry median of 14.21. Kenya Airways' overall GF Score™ is 63/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Kenya Airways (NAI:KQ), the current EV-to-FCF is 22.87 as of Jul. 19, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Kenya Airways (NAI:KQ) Overvalued in 2026?
Based on GuruFocus' analysis, Kenya Airways stock appears to be overvalued.
The current stock price of KES5.70 is trading 53.2% above its estimated GF Value™ of KES3.72.
GuruFocus considers Kenya Airways to be Significantly Overvalued.
Key valuation signals for NAI:KQ:
EV-to-FCF: 22.87 (23% below median its 10-year median of 29.86)
GF Value™: KES3.72 vs. price of KES5.70 (53.2% above fair value)
Industry Position: 61% above the Transportation median (#455 of 672)
No single metric tells the full story. See the NAI:KQ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kenya Airways Plc is engaged in the international, regional, and domestic carriage of passengers and cargo by air, the provision of ground handling services to other airlines, and the handling of import and export cargo. The company's segments include passengers, freight, mail, handling, and others. It operates domestic flights and flies to Africa, the Middle East, Asia, America, and Europe. The company is engaged in four business segments: Passenger, Freight and Mail, Handling, and Other revenue. Key revenue is generated from the Passenger segment.
63GF Score
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