Company Valuation: Air China Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 98,052 111,175 133,649 105,883 122,800 120,210 - -
Change - 13.38% 20.21% -20.77% 15.98% -2.11% - -
Enterprise Value (EV) 1 174,498 279,459 257,486 241,817 271,752 311,944 289,151 283,563
Change - 60.15% -7.86% -6.09% 12.38% 14.79% -7.31% -1.93%
P/E ratio -4.9x -3.66x -2.19x -66.5x -329x 25.3x 11.9x 7.08x
PBR 0.96x 1.05x - 1.95x 1.7x 1.72x 1.53x 1.25x
PEG - -0.2x -0x 0.7x 4.2x -0x 0x 0.1x
Capitalization / Revenue 1.41x 1.49x 2.53x 0.75x 0.74x 0.69x 0.65x 0.59x
EV / Revenue 2.51x 3.75x 4.87x 1.71x 1.63x 1.79x 1.55x 1.4x
EV / EBITDA -19.2x 68.6x -6.94x 28.4x 8.68x 8.48x 7.01x 6.06x
EV / EBIT -9.43x -16.6x -5.59x -72.7x 123x 47.9x 22.2x 14.4x
EV / FCF -16.6x -21.4x -10.9x 17.3x 34.5x 25.4x 20.6x 28.2x
FCF Yield -6.02% -4.67% -9.21% 5.78% 2.9% 3.94% 4.87% 3.55%
Dividend per Share 2 - - - - - 0.00056 0.0266 -
Rate of return - - - - - 0.01% 0.53% -
EPS 2 -1.049 -1.211 -2.812 -0.0674 -0.0147 0.1963 0.4168 0.7022
Distribution rate - - - - - 0.29% 6.38% -
Net sales 1 69,504 74,532 52,898 141,100 166,699 174,755 186,049 202,682
EBITDA 1 -9,094 4,072 -37,124 8,502 31,321 36,768 41,273 46,761
EBIT 1 -18,500 -16,862 -46,085 -3,324 2,218 6,517 13,042 19,702
Net income 1 -14,409 -16,635 -38,617 -1,046 -232.6 3,852 7,235 11,331
Net Debt 1 76,446 168,284 123,837 135,933 148,952 191,734 168,942 163,353
Reference price 2 5.136 4.432 6.148 4.484 4.839 4.972 4.972 4.972
Nbr of stocks (in thousands) 14,524,815 14,524,815 14,524,815 16,200,793 17,448,421 17,448,421 - -
Announcement Date 3/30/21 3/30/22 3/30/23 3/28/24 3/27/25 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
26.45x1.8x8.55x0.01% 17.07B
8.62x0.77x5.97x1.32% 31.05B
12.18x1.54x6.64x1.89% 28.86B
7.23x0.75x5.47x-.--% 24.27B
29.05x2.83x12.7x0.25% 23.58B
5.92x0.73x3.41x2.92% 20.13B
15.56x1.32x6.35x3.84% 15.86B
20.54x1.67x7.72x0.12% 13.13B
8.62x1.15x4.35x-.--% 11.51B
43.52x1.82x7.66x-.--% 11.44B
Average 17.77x 1.44x 6.88x 1.04% 19.69B
Weighted average by Cap. 16.07x 1.40x 6.92x 1.13%
See all sector valuations

Year-on-year evolution of the PER

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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