Financials AirAsia Group

Equities

CAPITALA

MYL5099OO006

Airlines

End-of-day quote BURSA MALAYSIA 23:00:00 13/06/2024 BST 5-day change 1st Jan Change
0.84 MYR -1.75% Intraday chart for AirAsia Group +3.07% +1.82%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 5,681 2,958 3,079 2,601 3,510 3,574 - -
Enterprise Value (EV) 1 15,781 16,437 18,552 19,995 26,492 19,028 16,237 13,385
P/E ratio -18.7 x -0.58 x -0.95 x -1.02 x 4.13 x 7.34 x 4.95 x 3.75 x
Yield 52.9% - - - - - - -
Capitalization / Revenue 0.47 x 1.04 x 3.09 x 0.39 x 0.24 x 0.19 x 0.19 x 0.17 x
EV / Revenue 1.32 x 5.78 x 18.6 x 3.03 x 1.79 x 0.99 x 0.85 x 0.64 x
EV / EBITDA 7.02 x -26.1 x -17.3 x 55.4 x 13.2 x 4.85 x 3.91 x 3.18 x
EV / FCF 4.7 x -7.07 x -51.2 x -1,363 x 34.2 x 9.44 x 4.23 x 3.47 x
FCF Yield 21.3% -14.1% -1.95% -0.07% 2.92% 10.6% 23.6% 28.8%
Price to Book 1.28 x -2.39 x -0.99 x -0.44 x -0.4 x -1.67 x -1.1 x -0.9 x
Nbr of stocks (in thousands) 3,341,974 3,341,974 3,898,053 4,161,793 4,254,582 4,254,679 - -
Reference price 2 1.700 0.8850 0.7900 0.6250 0.8250 0.8400 0.8400 0.8400
Announcement Date 27/02/20 29/03/21 28/02/22 28/02/23 29/02/24 - - -
1MYR in Million2MYR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 11,965 2,844 996.7 6,606 14,772 19,284 19,005 21,076
EBITDA 1 2,249 -630 -1,072 360.9 2,009 3,926 4,153 4,206
EBIT 1 742.9 -2,700 -2,823 -1,126 280.5 2,175 2,270 2,717
Operating Margin 6.21% -94.93% -283.27% -17.05% 1.9% 11.28% 11.95% 12.89%
Earnings before Tax (EBT) 1 -549.8 -5,584 -3,768 -3,169 533.4 630.9 930 1,160
Net income 1 -303.7 -5,097 -3,119 -2,480 837 519.7 786.9 1,025
Net margin -2.54% -179.18% -312.88% -37.54% 5.67% 2.7% 4.14% 4.86%
EPS 2 -0.0910 -1.525 -0.8300 -0.6120 0.2000 0.1144 0.1695 0.2242
Free Cash Flow 1 3,359 -2,324 -362.4 -14.67 774.3 2,015 3,838 3,855
FCF margin 28.07% -81.7% -36.36% -0.22% 5.24% 10.45% 20.2% 18.29%
FCF Conversion (EBITDA) 149.36% - - - 38.54% 51.33% 92.42% 91.66%
FCF Conversion (Net income) - - - - 92.52% 387.7% 487.73% 376.24%
Dividend per Share 2 0.9000 - - - - - - -
Announcement Date 27/02/20 29/03/21 28/02/22 28/02/23 29/02/24 - - -
1MYR in Million2MYR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1
Net sales 1 - 462.5 - - 1,961 2,368 2,530
EBITDA 1 - -366 -308.6 - 72.25 488.6 502.2
EBIT 1 - -789.1 -689.4 - -314.6 141 138.5
Operating Margin - -170.6% - - -16.05% 5.95% 5.47%
Earnings before Tax (EBT) - -964 -1,076 - -1,154 175.4 -
Net income -417.2 -884.1 -903.8 -931.2 -901.3 256.2 -
Net margin - -191.15% - - -45.97% 10.82% -
EPS - -0.2270 -0.2230 -0.2300 -0.2230 0.0620 -
Dividend per Share 2 - - - - - - -
Announcement Date 27/02/20 28/02/22 26/05/22 26/08/22 30/11/22 28/02/23 28/04/23
1MYR in Million2MYR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 10,100 13,479 15,472 17,393 22,982 15,454 12,663 9,811
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.491 x -21.4 x -14.44 x 48.2 x 11.44 x 3.937 x 3.049 x 2.333 x
Free Cash Flow 1 3,359 -2,324 -362 -14.7 774 2,015 3,838 3,855
ROE (net income / shareholders' equity) -4.97% -218% 128% - - 168% - -
ROA (Net income/ Total Assets) -1.39% -15.6% -14.4% -9.84% 3.5% 3.2% 4.23% 4.9%
Assets 1 21,848 32,654 21,653 25,204 23,917 16,242 18,589 20,910
Book Value Per Share 2 1.330 -0.3700 -0.8000 -1.420 -2.080 -0.5000 -0.7600 -0.9300
Cash Flow per Share 2 1.110 -0.6400 -0.0900 0 0.2500 0.6600 0.4000 0.7900
Capex 1 363 172 27.2 26.7 272 248 288 398
Capex / Sales 3.03% 6.05% 2.73% 0.4% 1.84% 1.28% 1.52% 1.89%
Announcement Date 27/02/20 29/03/21 28/02/22 28/02/23 29/02/24 - - -
1MYR in Million2MYR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
10
Last Close Price
0.84 MYR
Average target price
1.076 MYR
Spread / Average Target
+28.10%
Consensus
  1. Stock Market
  2. Equities
  3. CAPITALA Stock
  4. Financials AirAsia Group
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