Ryanair HoldingsRYAAY +2.23%84 Piotroski F-Score is 9 as of Jun. 24, 2026, which is 29% above its 10-year median of 7.00. GuruFocus rates RYAAY with a GF Score™ of 84/100 and a GF Value™ of $59.55 (Fairly Valued). The stock has 1 warning sign investors should review. Among 980 Transportation companies, Ryanair Holdings ranks better than 99.9% on this metric.
Good Sign:
Piotroski F-Score is 9, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Ryanair Holdings has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Ryanair Holdings's Piotroski F-Score or its related term are showing as below:
RYAAY'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 7 Max: 9
Current: 9
During the past 13 years, the highest Piotroski F-Score of Ryanair Holdings was 9. The lowest was 1. And the median was 7.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Ryanair Holdings Piotroski F-Score Related Terms
Ryanair Holdings Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Ryanair Holdings's Piotroski F-Score 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.
RYAAY vs DAL, UAL, LUV: Piotroski F-Score Comparison
For the Airlines subindustry, Ryanair Holdings's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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.
Ryanair Holdings Piotroski F-Score vs Transportation Industry
For the Transportation industry and Industrials sector, Ryanair Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Ryanair Holdings's Piotroski F-Score falls into.
* 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.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 945.675 + 2017.488 + 35.597 + -457.225 = $2,542 Mil. Cash Flow from Operations was 1681.892 + 376.643 + -85.246 + 2298.96 = $4,272 Mil. Revenue was 5002.999 + 6431.808 + 3763.7 + 2904.74 = $18,103 Mil. Gross Profit was 1308.535 + 2540.61 + 324.59 + -76.647 = $4,097 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(18926.486 + 20850.058 + 19236.033 + 18786.885 + 22829.711) / 5 = $20125.8346 Mil. Total Assets at the begining of this year (Mar25) was $18,926 Mil. Long-Term Debt & Capital Lease Obligation was $292 Mil. Total Current Assets was $8,954 Mil. Total Current Liabilities was $9,911 Mil.
Net Income was 387.513 + 1588.457 + 155.602 + -354.811 = $1,777 Mil.
Revenue was 3903.229 + 5622.531 + 3098.639 + 2483.568 = $15,108 Mil. Gross Profit was 629.709 + 2104.55 + 281.047 + -107.243 = $2,908 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(18669.13 + 19389.989 + 18175.139 + 17144.817 + 18926.486) / 5 = $18461.1122 Mil. Total Assets at the begining of last year (Mar24) was $18,669 Mil. Long-Term Debt & Capital Lease Obligation was $1,942 Mil. Total Current Assets was $6,497 Mil. Total Current Liabilities was $8,814 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Ryanair Holdings's current Net Income (TTM) was 2,542.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Ryanair Holdings's return on assets of this year was 0.13428457. Ryanair Holdings's return on assets of last year was 0.09517107.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Ryanair Holdings's gearing of this year was 0.0145271. Ryanair Holdings's gearing of last year was 0.10520872.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Ryanair Holdings's current ratio of this year was 0.9034272. Ryanair Holdings's current ratio of last year was 0.73713324.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Ryanair Holdings's number of shares in issue this year was 528.6. Ryanair Holdings's number of shares in issue last year was 539.75.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Ryanair Holdings's gross margin of this year was 0.22631785. Ryanair Holdings's gross margin of last year was 0.1924854.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Ryanair Holdings's asset turnover of this year was 0.95650334. Ryanair Holdings's asset turnover of last year was 0.80924858.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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9
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Ryanair Holdings has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.
Ryanair Holdings (RYAAY) has a Piotroski F-Score of 9 as of Jun. 24, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Ryanair Holdings and its competitors. This is 29% above median its historical median of 7.00. Over the past decade, Ryanair Holdings' Piotroski F-Score has ranged from 1.00 to 9.00. According to the industry distribution chart, Ryanair Holdings ranks #1 out of 980 companies in the Transportation industry, placing it in the top 0.099999999999994%.
Is Ryanair Holdings' Piotroski F-Score too high?
Ryanair Holdings' current Piotroski F-Score of 9 is 29% above median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 9.00. The Transportation industry median Piotroski F-Score is 6.00. Ryanair Holdings' value of 9 is 50% above this industry median. Based on the distribution chart, Ryanair Holdings ranks #1 out of 980 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, Ryanair Holdings has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Ryanair Holdings' Piotroski F-Score compare to DAL and UAL?
According to the Transportation industry distribution chart, Ryanair Holdings ranks #1 out of 980 companies for Piotroski F-Score. This places Ryanair Holdings in the top 0% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 6.00. Ryanair Holdings' value of 9 is 50% above this benchmark. Historically, Ryanair Holdings' own Piotroski F-Score has ranged from 1.00 to 9.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 6.00, Ryanair Holdings 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 Piotroski F-Score for a Transportation company?
The median Piotroski F-Score among Transportation companies is 6.00, based on 980 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ryanair Holdings's current Piotroski F-Score of 9 is 50% 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 Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Ryanair Holdings and its competitors. For the Transportation industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ryanair Holdings's current Piotroski F-Score is 9, which is 29% above median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ryanair Holdings stock overvalued right now?
Based on GuruFocus' analysis, Ryanair Holdings (RYAAY) is currently considered Fairly Valued. The stock's GF Value™ is $59.55, compared to a current price of $63.77 — trading 7.1% above its estimated fair value. The current Piotroski F-Score is 9, which is 29% above median its 10-year median of 7.00 and 50% above the Transportation industry median of 6.00. Ryanair Holdings' overall GF Score™ is 84/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Ryanair Holdings (RYAAY), the current Piotroski F-Score is 9 as of Jun. 24, 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 Ryanair Holdings (RYAAY) Overvalued in 2026?
Based on GuruFocus' analysis, Ryanair Holdings stock appears to be overvalued.
The current stock price of $63.77 is trading 7.1% above its estimated GF Value™ of $59.55.
GuruFocus considers Ryanair Holdings to be Fairly Valued.
Key valuation signals for RYAAY:
Piotroski F-Score: 9 (29% above median its 10-year median of 7.00)
GF Value™: $59.55 vs. price of $63.77 (7.1% above fair value)
Industry Position: 50% above the Transportation median (#1 of 980)
No single metric tells the full story. See the RYAAY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ryanair is Europe's largest low-cost airline, known for its extensive network and highly efficient business model. Operating over 3,600 flights daily across 240-plus destinations in 40 countries, Ryanair has built its success on offering affordable air travel while maintaining tight control over costs. The airline primarily uses Boeing 737 aircraft, including the newer 737 8-200 "Gamechanger" variant, which simplifies operations and reduces expenses. Ryanair focuses on high passenger volume, ancillary revenue, and operational efficiency, ensuring its position as a leading airline in Europe.
84GF Score
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