eDreams ODIGEO, S.A. EDEMY

Consumer DiscretionaryHotels & Entertainment ServicesSpain

Last close 40.00 USD on Nov 1, 2026, −41.2% year to date

Quant rating

Quant rating B Rank 106 of 297 in Consumer Discretionary

Growth D 221 of 297
Valuation B 118 of 297
Quality B 63 of 297
Revisions B 111 of 297
Momentum C 149 of 297

Wall Street consensus Hold (2.67)Average target 7.36 USD −81.6%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 594M
Enterprise value: 929M
52-week range: 36.30 – 42.70
3-year range: 36.30 – 68.08
Dividend yield: –
Beta (5 years): –
Shares outstanding: 113M
Next earnings: Nov 17, 2026

About the company

Edreams Odigeo SA is a Spain-based online travel company. The Company has active mainly in the flight sector with five brands: eDreams, Go Voyages, Opodo,Travellink and Liligo. The Company offers deals on regular flights, charters, airlines, hotels, car rentals, cruises, holiday packages and travel insurance to its clients. The Company operates through digital platforms, which consist of online portals and mobile applications. The Company also provides advertisers with a platform to reach their target markets in a personalized way, both locally and globally. The Company is focused on adapting its range of services to the needs of each individual customer. The Company has an international presence as it serves customers across 44 countries.

Growth and profitability

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	772	726	702	637	441	–
Revenue growth	6.4%	3.4%	10.2%	44.6%	250.6%	43.8%
EPS (basic, normalized)	0.73	0.47	0.21	−0.30	−0.49	–
EPS growth	57.4%	126.5%	–	–	–	–
Gross margin	98.5%	98.9%	98.8%	95.8%	95.0%	97.4%
Net margin	7.8%	6.7%	5.0%	−7.4%	−16.5%	−0.9%
ROE	21.0%	17.2%	12.7%	−17.0%	−24.8%	1.8%

Balance sheet, last quarter
Cash & short-term investments (mil)	89.3
Current ratio	0.24x
Long-term debt (mil)	428
Net debt (mil)	342
Total equity (mil)	282
Net debt / equity	1.21x
Net debt / EBITDA	1.70x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	772	+6.4%	1.2x	201	+38.3%	4.6x	0.73	+57.4%	54.5x
2027	763	−1.2%	1.2x	130	−35.3%	7.1x	0.32	−56.3%	124.6x
2028	792	+3.8%	1.2x	145	+11.5%	6.4x	0.42	+31.9%	94.5x
2029	878	+10.9%	1.1x	176	+21.3%	5.3x	0.60	+41.8%	66.6x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	763	+0.1%	−0.6%	−3.6%	0.32	−8.5%	−9.1%	+6.4%
2028	792	+1.5%	+0.1%	−2.5%	0.42	+13.9%	+16.9%	+22.3%
2029	878	0.0%	−1.5%	+2.1%	0.60	0.0%	+1.2%	+29.0%

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	168	–	–	–	–	173	171	159	166	166
Sales mean (mil)	–	–	–	–	–	187	–	171	176	166
Surprise	–	–	–	–	–	−7.7%	–	−7.0%	−5.8%	−0.3%
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Hotels & Entertainment Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
EDEMY eDreams ODIGEO, S.A.	594M	1.70x	7.8%	1.99x	124.6x	94.5x	7.1x	6.4x
AW A&W Food Services of Canada Inc	620M	9.01x	18.8%	3.85x	14.8x	13.6x	17.1x	16.1x
PZZA Papa John's International Inc	608M	3.72x	1.4%	−1.34x	16.0x	14.2x	7.4x	7.1x
CGX Cineplex Inc	585M	6.49x	−2.9%	−8.68x	33.3x	19.8x	7.7x	8.2x
DNUT Krispy Kreme, Inc.	568M	6.03x	−34.2%	0.92x	−655.0x	41.1x	9.7x	9.5x
LUCK Lucky Strike Entertainment Corp	551M	8.37x	−3.7%	−2.09x	−79.0x	21.5x	9.6x	8.9x
Mean		5.89x	−2.1%	−0.89x	−90.9x	34.1x	9.8x	9.4x
Median		6.26x	−0.7%	−0.21x	15.4x	20.7x	8.7x	8.6x

Technical analysis

1M0.0%
3M0.0%
1Y−41.2%
3Y−42.0%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, eDreams ODIGEO, S.A., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	772	726	702	637	441	126
Cost of revenue	11.2	7.7	8.2	26.8	22.2	0.7
Gross profit	761	718	694	610	418	125
Selling, general & administrative expenses	555	571	587	575	416	162
Research & development	–	–	–	–	–	–
Depreciation/amortization	57.7	47.8	40.8	36.7	37.3	42.6
Interest expense (income), operating	1.5	0	0.2	−1.2	0	4.7
Unusual expense (income)	0.1	−7.5	0.1	0.2	−11.9	35.9
Other operating expenses	36.9	25.1	21.9	10.3	11.7	9.8
Operating income	110	81.4	44.2	−10.6	−34.1	−130
Net interest income (expense)	−26.6	−26.5	−26.8	−26.8	−34.5	−30.6
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−8.5	−2.0	−2.3	−2.7	−8.9	−1.8
Net income before taxes	74.8	52.9	15.1	−40.1	−77.6	−163
Provision for taxes	14.4	4.2	−19.8	6.9	−4.7	−16.9
Minority interest	0	0	0	0	0	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	60.3	48.7	34.9	−47.0	−72.9	−146
Extraordinary items	–	–	–	–	–	–
Net income	60.3	48.7	34.9	−47.0	−72.9	−146
EBIT, normalized	111	73.9	44.5	−11.6	−49.4	−96.3
EBITDA, normalized	169	122	85.3	25.0	−12.1	−53.7
Basic EPS, normalized	0.73	0.47	0.21	−0.30	−0.49	–

Balance sheet in millions of USD, fiscal years

Balance sheet, eDreams ODIGEO, S.A., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	101	85.1	101	38.9	50.8	14.2
Receivables	58.3	77.7	71.7	75.9	75.2	30.6
Total inventory	–	–	–	–	–	–
Prepaid expenses	–	–	–	–	–	–
Other current assets	3.1	2.3	2.4	2.8	0.4	0
Total current assets	162	165	176	118	126	44.9
Property, plant & equipment	9.7	3.9	7.2	10.7	9.9	9.2
Goodwill	729	683	680	683	699	741
Intangibles	422	379	354	339	338	351
Long-term investments	9.4	3.3	2.4	2.3	2.2	2.6
Note receivable	–	–	–	–	–	–
Other long-term assets	27.2	22.8	27.6	10.8	14.0	7.6
Total assets	1,360	1,257	1,247	1,164	1,190	1,157
Liabilities
Accounts payable	366	313	331	301	295	165
Payable/accrued	–	–	–	–	–	–
Accrued expenses	20.2	19.0	16.8	16.0	12.9	12.1
Short-term debt	0	0	0	0.3	11.0	19.5
Current portion of long-term debt	2.9	2.0	3.0	6.8	10.1	6.7
Other current liabilities	248	245	182	154	114	39.1
Total current liabilities	637	579	532	478	444	242
Long-term debt	432	404	403	406	416	573
Minority interest	0	0	0	–	0	0
Other liabilities	4.2	4.1	14.6	23.7	28.2	38.3
Total liabilities	1,073	986	950	908	888	854
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	13.4	13.8	13.8	13.8	14.1	13.9
Additional paid-in capital	1,211	1,134	1,132	1,137	1,160	1,143
Retained earnings (accumulated deficit)	−862	−775	−831	−878	−858	−838
Treasury stock	−63.9	−91.3	−5.6	−4.0	−4.2	−4.8
Other equity	−12.1	−11.1	−12.3	−11.9	−10.2	−10.9
Total equity	286	271	296	256	302	303
Total liabilities & shareholders' equity	1,360	1,257	1,247	1,164	1,190	1,157

Cash flow statement in millions of USD, fiscal years

Cash flow statement, eDreams ODIGEO, S.A., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	60.3	48.7	34.9	−47.0	−72.9	−146
Depreciation, depletion & amortization	57.7	47.8	40.8	36.7	37.3	42.6
Deferred taxes	–	–	–	–	–	–
Non-cash items	74.6	47.8	26.2	48.1	38.2	33.5
Changes in working capital	9.6	14.0	48.0	73.4	129	70.0
Cash from operations	202	158	150	111	132	0.5
Investing activities
Capital expenditures	−72.4	−59.9	−53.0	−41.4	−29.8	−25.5
Other investing cash flows	1.0	−0.2	0.4	0	0	0.1
Cash from investing	−71.4	−60.1	−52.7	−41.3	−29.8	−25.4
Financing activities
Financing cash flow items	−44.3	−24.3	−24.9	−26.6	−45.5	−32.2
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−79.8	−89.9	−8.6	−46.9	−10.8	−49.2
Cash from financing	−124	−114	−33.5	−73.4	−56.4	−81.5
Foreign exchange effects	−1.1	0.5	0.1	−0.6	−0.9	3.3
Net change in cash	5.6	−15.5	63.8	−4.3	44.8	−103
Free cash flow	130	98.5	96.8	69.8	102	−25.0

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.