Company Valuation: AirAsia Group

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,079 2,601 3,510 4,330 1,839 1,053 - -
Change - -15.53% 34.94% 23.37% -57.54% -42.75% - -
Enterprise Value (EV) 1 18,552 19,995 26,492 5,477 2,753 2,006 1,808 1,532
Change - 7.78% 32.5% -79.33% -49.74% -27.12% -9.87% -15.25%
P/E -0.95x -1.02x 4.13x -9.01x 0.14x 6.86x 4.16x 2.87x
PBR -0.99x -0.44x -0.4x -0.49x 1.89x 0.89x 0.73x 0.49x
PEG - 0x -0x 0x -0x -0.1x 0.1x 0.1x
Capitalization / Revenue 3.09x 0.39x 0.24x 2.89x 0.92x 0.31x 0.29x 0.27x
EV / Revenue 18.6x 3.03x 1.79x 3.66x 1.38x 0.59x 0.49x 0.39x
EV / EBITDA -17.3x 55.4x 13.2x -8.26x -5.56x 4.78x 3.17x 2.19x
EV / EBIT -6.57x -17.7x 94.5x -7.16x -4.57x 6.25x 5.23x 3.86x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -0.83 -0.612 0.2 -0.111 3.001 0.0342 0.0565 0.0818
Distribution rate - - - - - - - -
Net sales 1 996.7 6,606 14,772 1,498 1,994 3,374 3,688 3,935
EBITDA 1 -1,072 360.9 2,009 -663.2 -494.9 419.5 570.7 698.5
EBIT 1 -2,823 -1,126 280.5 -765.3 -602.8 321.1 345.5 396.7
Net income 1 -3,119 -2,480 837 -475.1 13,034 143.4 218.8 339.9
Net Debt 1 15,472 17,393 22,982 1,147 914.3 953.5 755.5 479.8
Reference price 2 0.7900 0.6250 0.8250 1.0000 0.4150 0.2350 0.2350 0.2350
Nbr of stocks (in thousands) 3,898,053 4,161,793 4,254,582 4,330,434 4,430,196 4,479,218 - -
Announcement Date 28/02/22 28/02/23 29/02/24 28/02/25 25/02/26 - - -
1MYR in Million2MYR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.71x0.93x7.59x0.9% 55B
10.73x0.8x7x-.--% 36.52B
13.97x1.4x6.4x1.82% 28.06B
8.51x0.83x3.95x2.1% 25.71B
14.45x0.75x6.86x1.7% 20.78B
67.48x2.26x13.38x0.07% 19.83B
28.31x1.08x5.76x3.73% 16.41B
-10.61x1.61x11.3x-.--% 16.07B
9.52x1.1x4.55x3.45% 13.66B
Average 17.34x 1.20x 7.42x 1.53% 25.78B
Weighted average by Cap. 16.46x 1.12x 7.33x 1.29%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA