| Valuation method | Value, CHF | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 352.50 | 2374 |
| Intrinsic value (DCF) | 5.68 | -60 |
| Graham-Dodd Method | n/a | |
| Graham Formula | 9.80 | -31 |
lastminute.com N.V. (LMN.SW) is a leading European online travel agency (OTA) specializing in last-minute travel deals, hotel bookings, flights, vacation packages, and car rentals. Headquartered in Amsterdam, the Netherlands, and listed on the Swiss Exchange (SIX), the company operates under well-known brands such as lastminute.com, weg.de, Jetcost, and Rumbo, serving customers in over 40 countries and 17 languages. Its business model spans multiple segments, including OTA, meta-search, and media advertising, allowing it to monetize both direct bookings and referral traffic. The company’s strong digital presence, multi-brand strategy, and focus on discounted travel options position it as a key player in the competitive European travel market. With a market cap of CHF 163 million, lastminute.com N.V. caters to price-sensitive travelers while leveraging partnerships with airlines, hotels, and third-party providers to drive revenue growth.
lastminute.com N.V. presents a high-risk, high-reward investment opportunity due to its exposure to the volatile travel industry (beta of 1.717). While the company reported CHF 313.7 million in revenue and CHF 15.7 million in net income for the latest fiscal period, its reliance on discretionary consumer spending makes it susceptible to economic downturns. Positive aspects include strong operating cash flow (CHF 24.4 million) and a modest dividend yield (CHF 0.5728 per share). However, its small market cap and competition from larger OTAs like Booking Holdings and Expedia pose challenges. Investors should weigh its niche last-minute travel focus against macroeconomic risks and sector competition.
lastminute.com N.V. competes in the crowded online travel agency (OTA) space, differentiating itself through a multi-brand strategy and a focus on discounted, last-minute bookings. Its competitive advantage lies in localized branding (e.g., weg.de for Germany, Rumbo for Spain) and meta-search capabilities via Jetcost and Hotelscan, which drive traffic to partner sites. However, the company faces intense competition from global giants like Booking.com and Expedia, which benefit from superior scale, brand recognition, and technology investments. While lastminute.com’s asset-light model allows for flexibility, its smaller size limits bargaining power with suppliers. The company’s profitability (CHF 15.7 million net income) suggests efficient operations, but its growth potential is constrained by the dominance of larger players and the rise of direct booking platforms from airlines and hotels. Its ability to sustain margins in a price-sensitive market will depend on continued innovation in digital marketing and customer retention strategies.