Ryanair
RYAAY · NasdaqAir Transportation, Scheduled · Fiscal year ends Mar 31 · Reports in EUR
Ryanair reported revenue of EUR 13.9B in the fiscal year ended Mar 2025, up 3.8% from the year before. Operating income was EUR 1.6B, an operating margin of 11.2%, and net income was EUR 1.6B. Operating cash flow of EUR 3.4B less capital expenditure of EUR 1.6B left free cash flow of EUR 1.9B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Revenue | EUR 1.6B | EUR 4.8B | EUR 10.8B | EUR 13.4B | EUR 13.9B |
| Operating income | −EUR 839M | −EUR 340M | EUR 1.4B | EUR 2.1B | EUR 1.6B |
| Interest expense | EUR 70M | EUR 91M | EUR 77M | EUR 83M | EUR 67M |
| Pre-tax income | −EUR 1.1B | −EUR 430M | EUR 1.4B | EUR 2.1B | EUR 1.8B |
| Income tax | −EUR 94M | −EUR 189M | EUR 129M | EUR 211M | EUR 173M |
| Net income | −EUR 1B | −EUR 241M | EUR 1.3B | EUR 1.9B | EUR 1.6B |
Balance sheet
| Fiscal year | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | EUR 2.7B | EUR 2.7B | EUR 3.6B | EUR 3.9B | EUR 3.9B |
| Inventory | EUR 4M | EUR 4M | EUR 6M | EUR 6M | EUR 5M |
| Current assets | EUR 3.5B | EUR 5.5B | EUR 5.9B | EUR 5.8B | EUR 6B |
| Net PP&E | EUR 8.4B | EUR 9.1B | EUR 9.9B | EUR 10.8B | EUR 10.9B |
| Total assets | EUR 12.3B | EUR 15.1B | EUR 16.4B | EUR 17.2B | EUR 17.5B |
| Current liabilities | EUR 3.5B | EUR 5.4B | EUR 7.4B | EUR 6.4B | EUR 8.2B |
| Total liabilities | EUR 7.7B | – | EUR 10.8B | EUR 9.6B | – |
| Shareholders' equity | EUR 4.6B | EUR 5.5B | EUR 5.6B | EUR 7.6B | EUR 7B |
Cash flow
| Fiscal year | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −EUR 2.4B | EUR 1.9B | EUR 3.9B | EUR 3.2B | EUR 3.4B |
| Capital expenditure | EUR 295M | EUR 1.2B | EUR 1.9B | EUR 2.4B | EUR 1.6B |
| Free cash flow | −EUR 2.7B | EUR 759M | EUR 2B | EUR 766M | EUR 1.9B |
Key ratios
| Fiscal year | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 193.5% | 124.4% | 24.8% | 3.8% |
| Operating income growth (YoY) | – | – | – | 42.8% | −24.4% |
| Operating margin | −51.3% | −7.1% | 13.4% | 15.3% | 11.2% |
| Net margin | −62.1% | −5.0% | 12.2% | 14.3% | 11.6% |
| Return on equityBlank when equity is negative | −21.8% | −4.3% | 23.3% | 25.2% | 22.9% |
| ROCEEBIT ÷ (assets − current liabilities) | −9.5% | −3.5% | 16.1% | 19.1% | 16.7% |
| Free cash flow margin | −167.7% | 15.8% | 18.3% | 5.7% | 13.4% |
| Cash conversion (CFO ÷ net income) | 2.41x | −8.06x | 2.96x | 1.65x | 2.12x |
| Interest cover | −12.0x | −3.72x | 18.8x | 24.8x | 23.4x |
| Current ratio | 0.98x | 1.01x | 0.80x | 0.91x | 0.74x |
Recent filings
More in Air Transportation, Scheduled
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.