Cash flow Cathay Pacific Airways Limited

Equities

293 HK0293001514

Airlines

Market Closed - Hong Kong S.E. Other stock markets 09:08:15 17/09/2024 BST			5-day change	1st Jan Change
7.930 ^HKD	0.00%		+0.51%	-2.82%

09-18	Hong Kong Seeks Investments from Gulf's Major Business Houses	MT
09-17	Cathay Pacific Sees 16% Boost in Passenger Count in August	MT

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Published financial data: CATHAY PACIFIC AIRWAYS LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	107B	46.93B	45.59B	51.04B	94.48B
Total Revenues	107B	46.93B	45.59B	51.04B	94.48B
Cost of Goods Sold, Total	82.86B	40.91B	29.7B	30.55B	61.35B
Gross Profit	24.11B	6.03B	15.89B	20.49B	33.14B
Selling General & Admin Expenses, Total	1.11B	146M	-	-	-
Depreciation & Amortization - (IS)	14.83B	14.6B	12.82B	12.43B	12.44B
Other Operating Expenses	4.78B	2.99B	3.62B	4.51B	7.7B
Other Operating Expenses, Total	20.72B	17.73B	16.45B	16.94B	20.14B
Operating Income	3.4B	-11.7B	-560M	3.55B	13B
Interest Expense, Total	-3.28B	-3.01B	-2.73B	-3.15B	-3.85B
Interest And Investment Income	337M	86M	66M	135M	571M
Net Interest Expenses	-2.94B	-2.93B	-2.66B	-3.01B	-3.28B
Income (Loss) On Equity Invest.	1.64B	-1.28B	-1.98B	-6.68B	-1.53B
Other Non Operating Income (Expenses)	1M	-31M	25M	74M	-17M
EBT, Excl. Unusual Items	2.1B	-15.94B	-5.18B	-6.07B	8.17B
Restructuring Charges	-	-2.38B	-385M	-	-
Merger & Related Restructuring Charges	-71M	-	-	-	-
Impairment of Goodwill	-	-39M	-	-	-
Gain (Loss) On Sale Of Investments	114M	7M	219M	30M	2.49B
Asset Writedown	-	-3.96B	-708M	-	197M
EBT, Incl. Unusual Items	2.14B	-22.32B	-6.06B	-6.04B	10.86B
Income Tax Expense	454M	-674M	-531M	507M	1.07B
Earnings From Continuing Operations	1.69B	-21.65B	-5.53B	-6.55B	9.79B
Net Income to Company	1.69B	-21.65B	-5.53B	-6.55B	9.79B
Minority Interest	-	-1M	-1M	-1M	-1M
Net Income - (IS)	1.69B	-21.65B	-5.53B	-6.55B	9.79B
Preferred Dividend and Other Adjustments	-	228M	596M	614M	722M
Net Income to Common Incl Extra Items	1.69B	-21.88B	-6.12B	-7.16B	9.07B
Net Income to Common Excl. Extra Items	1.69B	-21.88B	-6.12B	-7.16B	9.07B
Per Share Items
Net EPS - Basic	0.43	-4.24	-0.95	-1.11	1.41
Basic EPS - Continuing Operations	0.43	-4.24	-0.95	-1.11	1.41
Basic Weighted Average Shares Outstanding	3.93B	5.16B	6.44B	6.44B	6.44B
Net EPS - Diluted	0.43	-4.24	-0.95	-1.11	1.26
Diluted EPS - Continuing Operations	0.43	-4.24	-0.95	-1.11	1.26
Diluted Weighted Average Shares Outstanding	3.93B	5.16B	6.44B	6.44B	7.4B
Normalized Basic EPS	0.33	-1.93	-0.5	-0.59	0.79
Normalized Diluted EPS	0.33	-1.93	-0.5	-0.59	0.69
Dividend Per Share	0.18	-	-	-	0.43
Payout Ratio	88.41	-	-	-	20.11
American Depositary Receipts Ratio (ADR)	5	5	5	5	5
Supplemental Items
EBITDA	11.23B	-3.92B	6.38B	10.31B	20.47B
EBITA	3.4B	-11.7B	-556M	3.55B	13B
EBIT	3.4B	-11.7B	-560M	3.55B	13B
EBITDAR	11.41B	-3.9B	6.41B	10.33B	20.48B
Total Revenues (As Reported)	107B	46.93B	45.59B	51.04B	94.48B
Effective Tax Rate - (Ratio)	21.17	3.02	8.77	-8.39	9.84
Total Current Taxes	354M	303M	300M	990M	109M
Total Deferred Taxes	100M	-977M	-831M	-483M	959M
Normalized Net Income	1.31B	-9.97B	-3.24B	-3.79B	5.1B
Interest on Long-Term Debt	2.6B	1.98B	2.08B	3.03B	3.03B
Non-Cash Pension Expense	5M	-89M	-14M	-15M	-79M
Supplemental Operating Expense Items
Selling and Marketing Expenses	927M	146M	-	-	-
Net Rental Expense, Total	181M	25M	27M	16M	9M
Imputed Operating Lease Interest Expense	55.45M	6.33M	6.44M	4.83M	3.81M
Imputed Operating Lease Depreciation	126M	18.67M	20.56M	11.17M	5.19M
Maintenance & Repair Expenses, Total	9.86B	5.77B	5.15B	3.21B	7.36B
Stock-Based Comp., Other (Total)	-	845M	711M	662M	1.3B
Total Stock-Based Compensation	-	845M	711M	662M	1.3B

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	8.88B	6.17B	8.57B	7.34B	7.89B
Short Term Investments	5.84B	13.03B	10.57B	10.82B	7.63B
Total Cash And Short Term Investments	14.72B	19.2B	19.14B	18.16B	15.52B
Accounts Receivable, Total	5.61B	3.38B	3.92B	4.02B	4.49B
Other Receivables	4.57B	2.99B	2.62B	1.82B	1.51B
Total Receivables	10.18B	6.38B	6.54B	5.84B	6B
Inventory	1.81B	1.72B	1.27B	1.14B	967M
Other Current Assets, Total	573M	272M	1.95B	1.2B	258M
Total Current Assets	27.28B	27.57B	28.9B	26.34B	22.75B
Gross Property Plant And Equipment	222B	228B	226B	223B	229B
Accumulated Depreciation	-82.23B	-96.02B	-105B	-107B	-116B
Net Property Plant And Equipment	140B	132B	121B	116B	113B
Long-term Investments	27.94B	27.3B	25.29B	17.33B	16.87B
Goodwill	11.65B	11.62B	11.62B	11.62B	11.62B
Other Intangibles, Total	3.5B	3.45B	3.41B	3.16B	2.9B
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	1.09B	627M	846M	1.13B	1.08B
Other Long-Term Assets, Total	2.94B	2.09B	5.38B	5.44B	6.03B
Total Assets	215B	205B	197B	181B	174B
Liabilities
Accounts Payable, Total	8.45B	3.28B	4.33B	5.38B	7.4B
Accrued Expenses, Total	125M	218M	271M	330M	540M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	13.63B	17.51B	16.06B	8.49B	5.72B
Current Portion of Leases	7.12B	6.74B	6.29B	6.15B	4.8B
Current Income Taxes Payable	1.95B	1.98B	2.76B	4.02B	2.51B
Unearned Revenue Current, Total	15.94B	8.12B	7.92B	13.54B	15.22B
Other Current Liabilities	9.64B	8.87B	5.5B	5.49B	9.3B
Total Current Liabilities	56.86B	46.72B	43.14B	43.4B	45.49B
Long-Term Debt	43.13B	37.98B	39.06B	36.68B	33.58B
Long-Term Leases	33.37B	30.9B	28.44B	25.79B	24.2B
Unearned Revenue Non Current	-	-	478M	282M	252M
Pension & Other Post Retirement Benefits	-	-	-	-	90M
Deferred Tax Liability Non Current	13.56B	11.5B	9.82B	8.12B	7.76B
Other Non Current Liabilities	4.81B	4.21B	3.44B	2.77B	2.72B
Total Liabilities	152B	131B	124B	117B	114B
Preferred Stock Redeemable	-	19.5B	19.5B	19.5B	-
Total Preferred Equity	-	19.5B	19.5B	19.5B	-
Common Stock, Total	17.11B	28.82B	28.82B	28.82B	28.83B
Retained Earnings	45.87B	24.74B	19.72B	13.28B	21.19B
Comprehensive Income and Other	-200M	194M	4.2B	2.27B	10.01B
Total Common Equity	62.77B	53.76B	52.74B	44.38B	60.03B
Minority Interest	3M	4M	5M	6M	7M
Total Equity	62.78B	73.26B	72.25B	63.88B	60.03B
Total Liabilities And Equity	215B	205B	197B	181B	174B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	3.93B	6.44B	6.44B	6.44B	6.44B
ECS Total Common Shares Outstanding	3.93B	6.44B	6.44B	6.44B	6.44B
Book Value / Share	15.96	8.35	8.19	6.89	9.32
Tangible Book Value	47.62B	38.7B	37.72B	29.6B	45.51B
Tangible Book Value Per Share	12.11	6.01	5.86	4.6	7.07
Total Debt	97.26B	93.13B	89.85B	77.11B	68.29B
Net Debt	82.54B	73.93B	70.71B	58.95B	52.77B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-470M	-995M	-1.42B	-1.42B	-1.59B
Debt Equivalent Oper. Leases	1.45B	200M	216M	128M	72M
Minority Interest, Total (Incl. Fin. Div)	3M	4M	5M	6M	7M
Equity Method Investments, Total	27.06B	26.49B	24.53B	16.49B	16.05B
Account Code - Inventory Valuation	6	6	6	6	6
Land - (BS)	15.33B	15.4B	15.19B	15.21B	15.3B
Buildings, Total	-	-	-	-	-
Machinery, Total	138B	141B	142B	141B	161B
Full Time Employees	34.2K	25.6K	21.6K	21.2K	23.8K
Accumulated Allowance for Doubtful Accounts (Supple)	81M	78M	100M	36M	41M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	1.69B	-21.65B	-5.53B	-6.55B	15.07B
Depreciation & Amortization - CF	13.67B	13.85B	12.22B	11.56B	11.73B
Amortization of Goodwill and Intangible Assets - (CF)	3M	4M	4M	4M	4M
Depreciation & Amortization, Total	13.68B	13.85B	12.23B	11.56B	11.73B
Amortization of Deferred Charges, Total - (CF)	547M	569M	557M	626M	590M
(Gain) Loss From Sale Of Asset	-166M	-34M	-46M	152M	34M
(Gain) Loss on Sale of Investments - (CF)	-202M	135M	-156M	-88M	-1.92B
Asset Writedown & Restructuring Costs	-	4.01B	1.01B	-	-208M
Other Operating Activities, Total	-2.15B	93M	927M	6.18B	-6.12B
Change In Accounts Receivable	2.13B	3.75B	-159M	705M	-6M
Change In Inventories	16M	93M	340M	132M	170M
Change In Accounts Payable	364M	-7.56B	-1.38B	382M	5.52B
Change in Unearned Revenues	149M	-7.82B	281M	5.42B	1.66B
Change in Other Net Operating Assets	-708M	260M	755M	-687M	-111M
Cash from Operations	15.34B	-14.29B	8.84B	17.84B	26.41B
Capital Expenditure	-12.17B	-5.42B	-2.28B	-3.73B	-6.8B
Sale of Property, Plant, and Equipment	134M	153M	112M	50M	222M
Cash Acquisitions	-1.7B	-	-	-	-
Divestitures	-	-	-	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	1.8B	-7.15B	2.46B	-183M	3.87B
Other Investing Activities, Total	334M	657M	193M	1.1B	38M
Cash from Investing	-11.6B	-11.76B	493M	-2.76B	-2.67B
Long-Term Debt Issued, Total	17.81B	22.3B	13.91B	6.12B	4.93B
Total Debt Issued	17.81B	22.3B	13.91B	6.12B	4.93B
Long-Term Debt Repaid, Total	-18.78B	-30.13B	-20.84B	-22.35B	-16.39B
Total Debt Repaid	-18.78B	-30.13B	-20.84B	-22.35B	-16.39B
Issuance of Common Stock	-	11.72B	-	-	-
Issuance of Preferred Stock	-	19.5B	-	-	-
Repurchase of Preferred Stock	-	-	-	-	-9.75B
Common Dividends Paid	-1.5B	-	-	-	-
Preferred Dividends Paid	-	-	-	-	-1.97B
Common & Preferred Stock Dividends Paid	-1.5B	-	-	-	-1.97B
Other Financing Activities, Total	-1M	-77M	-	-	-
Cash from Financing	-2.47B	23.31B	-6.93B	-16.24B	-23.18B
Foreign Exchange Rate Adjustments	-41M	25M	11M	-73M	-8M
Net Change in Cash	1.23B	-2.72B	2.41B	-1.23B	554M
Supplemental Items
Cash Interest Paid	3.01B	2.22B	1.95B	2.43B	3.36B
Cash Income Tax Paid (Refund)	285M	923M	991M	1.25B	3.11B
Levered Free Cash Flow	5.51B	-8.79B	6.09B	18.92B	19.7B
Unlevered Free Cash Flow	7.56B	-6.91B	7.8B	20.89B	22.11B
Change In Net Working Capital	-3.38B	9.44B	3.07B	-9.55B	-7.16B
Net Debt Issued / Repaid	-973M	-7.83B	-6.93B	-16.24B	-11.46B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.05	-3.49	-0.17	1.17	4.58
Return on Total Capital	1.43	-4.48	-0.21	1.46	6.03
Return On Equity %	2.67	-31.83	-7.6	-9.62	15.81
Return on Common Equity	2.67	-37.55	-11.5	-14.75	17.38
Margin Analysis
Gross Profit Margin %	22.54	12.84	34.85	40.14	35.07
SG&A Margin	1.04	0.31	-	-	-
EBITDA Margin %	10.5	-8.36	14.01	20.2	21.66
EBITA Margin %	3.18	-24.93	-1.22	6.96	13.76
EBIT Margin %	3.18	-24.94	-1.23	6.95	13.76
Income From Continuing Operations Margin %	1.58	-46.12	-12.12	-12.83	10.36
Net Income Margin %	1.58	-46.12	-12.12	-12.83	10.36
Net Avail. For Common Margin %	1.58	-46.61	-13.43	-14.03	9.6
Normalized Net Income Margin	1.23	-21.24	-7.11	-7.44	5.4
Levered Free Cash Flow Margin	5.15	-18.74	13.37	37.07	20.86
Unlevered Free Cash Flow Margin	7.07	-14.72	17.11	40.92	23.4
Asset Turnover
Asset Turnover	0.53	0.22	0.23	0.27	0.53
Fixed Assets Turnover	0.83	0.35	0.36	0.43	0.83
Receivables Turnover (Average Receivables)