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Air France-KLM stock: key metrics
AF.PAAir France-KLM had an operating margin of 6.2% and a return on invested capital (ROIC) of 14.3% in fiscal 2025.
Margins show how much of revenue is left over, returns on capital how hard the invested money works.
Daily figure as of 13 Nov 2026
Margins
- Gross margin
- Operating margin
- Net margin
Figures as a table
| Year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| 2006 | 43.2% | 5.3% | 3.9% |
| 2007 | 42.7% | 5.3% | 3.1% |
| 2008 | 37.7% | −0.8% | −3.4% |
| 2009 | 25.6% | −7.8% | −7.4% |
| 2010 | 38.4% | 3.8% | 2.6% |
| 2012 | 25.4% | −3.4% | −4.6% |
| 2013 | 27.7% | −0.9% | −7.2% |
| 2014 | 27.7% | 3.0% | −0.8% |
| 2015 | 20.5% | 4.3% | no data |
| 2016 | 32.0% | 4.5% | no data |
| 2017 | 33.5% | −1.6% | −1.1% |
| 2018 | 33.6% | 5.0% | 1.5% |
| 2019 | 32.0% | 3.7% | 1.1% |
| 2020 | 0.0% | −41.9% | −63.4% |
| 2021 | 21.7% | −11.5% | −22.8% |
| 2022 | 30.2% | 3.1% | 2.8% |
| 2023 | 20.5% | 5.6% | 3.1% |
| 2024 | 15.8% | 4.7% | 1.0% |
| 2025 | 11.9% | 6.2% | 4.8% |
Returns on capital
- ROE
- ROIC
- ROA
Figures as a table
| Year | ROE | ROIC | ROA |
|---|---|---|---|
| 2006 | 10.7% | 7.5% | 3.3% |
| 2007 | 7.1% | 6.5% | 2.4% |
| 2008 | −14.5% | −1.2% | −2.8% |
| 2009 | −29.1% | −10.8% | −5.6% |
| 2010 | 8.9% | 6.7% | 2.1% |
| 2012 | −24.2% | −5.2% | −4.3% |
| 2013 | −81.5% | −1.6% | −7.2% |
| 2014 | 29.5% | 4.8% | −0.9% |
| 2015 | no data | 14.4% | no data |
| 2016 | no data | 12.4% | no data |
| 2017 | −9.1% | −5.8% | −1.1% |
| 2018 | 22.1% | 11.2% | 1.4% |
| 2019 | 12.7% | 8.4% | 0.9% |
| 2020 | 129.4% | −46.0% | −23.3% |
| 2021 | 85.4% | −21.2% | −10.6% |
| 2022 | −24.2% | 15.4% | 2.3% |
| 2023 | −45.5% | 24.7% | 2.7% |
| 2024 | −18.0% | 15.7% | 0.9% |
| 2025 | −100.0% | 14.3% | 4.0% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = €0.9024)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 18 Oct 2026)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.