This document analyzes the financial performance and ratios of Ryanair Holdings PLC, a major European airline, for the years 2013, 2012, and 2011. It includes profitability ratios like gross profit margin and net profit margins, growth ratios, liquidity ratios, gearing ratios, and investor ratios. Key metrics for Ryanair show revenues of €4.9 billion in 2013, over 81 million passengers annually, and profit margins, return on capital employed, and earnings per share that are consistently higher than competitor Aer Lingus.

1. Analysis of
Ryanair Holdings Plc.
By
Ben o’Connor
Cian O’Brien
Darragh Wright
Sam mcEvoy

2. Introduction

3. Ryanair
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Established in 1985
Michael O’Leary
€4.9bn Revenue 2013
180 airports
29 countries
1,611 routes
1,500+ daily departures
81.5m passengers p.a.

5. Profitability Ratios

6. Gross Profit Margin
2013
2012
2011
27.9%
29.1%
28.3%
In comparison to Aer Lingus
N/A
20.73%
17.9%
Gross Profit = Gross Profit x 100
Revenue

7. NET PROFIT
2013
2012
Before Tax
13.3%
14.4%
After Tax
11.7%
12.8%
In comparison to Aer Lingus
Before Tax
After Tax
2011
11.6%
10.3%
N/A
2.9%
6.6%
N/A
2.4%
5.5%
Net Profit = Net Profit before tax x100
Revenue

8. Return on Capital Employed
(ROCE)
2013
2012
2011
Before Tax
10.21%
9.51%
6.86%
(After Tax)
8.94%
8.41%
6.1%
In comparison, Aer Lingus recorded a
ROCE (Before Tax) of 4.88% in 2012
*ROCE (Before Tax) =
EBIT
Capital Employed

9. Growth Ratio

10. GROWTH IN REVENUE
2013
2012
2011
11.2%
21%
21.5%
8.1%
5.9%
In comparison to Aer Lingus
N/A
*Growth in Revenue = Revenue Year 1– Year 2 x100
Revenue Year 2

11. Liquidity Ratios

12. Current Ratio and Acid Test Ratio

13. Activity Ratios

14. Receivable And Payable Days

15. Gearing Ratios

16. Capital Gearing
2013
2012
2011
53.46%
53.98%
56.3%
Aer Lingus (2012) – 41.03%
Capital Gearing =
Non Current Liabilities
Capital Employed

17. Interest Cover
2013
2012
2011
7.23 times
6.26 times
5.2 times
In comparison to Aer Lingus’ Financial Report 2012: 4.03 times
Interest Cover = EBIT
Interest Expense

18. Investor Ratios

19. Dividend Cover and Dividend
per Share
Dividend Cover
Div. Per Share
2013
2012
1.16 times
N/A
34.05 cents N/A
2011
0.75 times
33.65 cents
Ryanair have only paid out a dividend twice.
First in 2011, and then again in 2013.
Compared to Aer Lingus who recorded a DPS of 3 cents in
2012
* Dividend Cover = Profit After Tax – Pref Div.
Dividend Paid (Ord. Shares)
*DPS =
Div. Paid (Ord.)
Ord. Shares

20. Earnings Per Share
2013
2012
2011
39.45 cents
38.03 cents
25.21 cents
Aer Lingus recorded EPS at 6.4 cents in 2012
EPS = Net Profit after tax
Ordinary Shares

21. Price/Earnings Ratio
2013
2011
15.08%
Share Price
2012
11.77%
13.32%
€5.95
€4.47
€3.36
Aer Lingus - 17.27% (2012)
(share price €1.105)
PE Ratio = Market Share Price
EPS
* Market Share Price refers to share price at financial
year end

22. Comparison Within the Industry

23. Year to Date Share Price Chart

24. THANKS FOR LISTENING