Air France-KLM (MIL:1AF) ROCE %: -1.22% (As of Mar. 2026)


MIL:1AF Air France-KLM MIL:1AF
61 GF Score
Price €12.61
GF Value €10.99
Valuation Modestly Overvalued
! 6 Warning Signs
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What is Air France-KLM ROCE %?

Air France-KLM MIL:1AF +1.37% 61 ROCE % is -1.22% as of Mar. 2026. GuruFocus rates MIL:1AF with a GF Score™ of 61/100 and a GF Value™ of €10.99 (Modestly Overvalued). The stock has 6 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Air France-KLM's annualized ROCE % for the quarter that ended in Mar. 2026 was -1.22%.

Air France-KLM  (MIL:1AF) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Air France-KLM ROCE % Related Terms

Air France-KLM ROCE % Historical Data

* Premium members only.

The historical data trend for Air France-KLM's ROCE % 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.

Air France-KLM ROCE % Chart

Air France-KLM Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only -15.48 5.46 10.70 7.49 12.88

Air France-KLM Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.25 22.74 23.57 7.44 -1.22
MIL:1AF
61GF Score
Air France-KLM MIL:1AF
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Air France-KLM ROCE % Calculation

Air France-KLM's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=2718/( ( (36155 - 16271) + (39445 - 17113) )/ 2 )
=2718/( (19884+22332)/ 2 )
=2718/21108
=12.88 %

Air France-KLM's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=-280/( ( (39445 - 17113) + (42889 - 19387) )/ 2 )
=-280/( ( 22332 + 23502 )/ 2 )
=-280/22917
=-1.22 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

* 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of -1.22% mean?
Air France-KLM (MIL:1AF) has a ROCE % of -1.22% as of Mar. 2026.
Is Air France-KLM's ROCE % too high?
Air France-KLM's current ROCE % is -1.22%. Overall, Air France-KLM has a GF Score™ of 61/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Air France-KLM's ROCE % compare to DAL and UAL?
Air France-KLM's ROCE % of -1.22% can be compared against companies in the Transportation industry. The industry median ROCE % is 7.74. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Transportation company?
The median ROCE % among Transportation companies is 7.74, based on 997 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Transportation industry, the median ROCE % is 7.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Air France-KLM's current ROCE % is -1.22%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Air France-KLM stock overvalued right now?
Based on GuruFocus' analysis, Air France-KLM (MIL:1AF) is currently considered Modestly Overvalued. The stock's GF Value™ is €10.99, compared to a current price of €12.61 — trading 14.7% above its estimated fair value. The current ROCE % is -1.22%. Air France-KLM's overall GF Score™ is 61/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For Air France-KLM (MIL:1AF), the current ROCE % is -1.22% as of Mar. 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 Air France-KLM (MIL:1AF) Overvalued in 2026?

Based on GuruFocus' analysis, Air France-KLM stock appears to be overvalued. The current stock price of €12.61 is trading 14.7% above its estimated GF Value™ of €10.99. GuruFocus considers Air France-KLM to be Modestly Overvalued.

Key valuation signals for MIL:1AF:

  • ROCE %: -1.22%
  • GF Value™: €10.99 vs. price of €12.61 (14.7% above fair value)
  • GF Score™: 61/100 with 6 warning signs

No single metric tells the full story. See the MIL:1AF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Air France-KLM Business Description

Address 7 Rue du Cirque, Paris, FRA, 75008
Air France-KLM is a European airline group engaged in businesses that include passenger and cargo transportation, low-cost operations, and aircraft maintenance. The group has four segments: network, maintenance, Transavia, and other. The network segment derives key revenue for the passenger and cargo network, mainly coming from passenger transportation services on scheduled flights with the group's airline code. The company's geographic markets include France, Benelux, Europe, and the rest of the world, with the majority of revenue coming from France, including its overseas division.
61GF Score

Get the complete analysis for MIL:1AF

ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€12.61
Price
€10.99
GF Value