Financials AirAsia X

Equities

AAX

MYL5238OO000

Airlines

End-of-day quote BURSA MALAYSIA 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
1.37 MYR +13.22% Intraday chart for AirAsia X +14.17% -26.74%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 974.8 643 311.1 269.6 236.4 612.5 612.5 -
Enterprise Value (EV) 1 1,364 6,602 5,473 269.6 236.4 2,287 1,668 1,430
P/E ratio -3.13 x -1.31 x -0.23 x -0.01 x 0.01 x 2.26 x 7.21 x 5.11 x
Yield - - - - - - - -
Capitalization / Revenue 0.21 x 0.15 x 0.28 x 0.22 x 0.27 x 0.33 x 0.17 x 0.16 x
EV / Revenue 0.3 x 1.5 x 4.84 x 0.22 x 0.27 x 0.9 x 0.45 x 0.37 x
EV / EBITDA -17.8 x 7.95 x -12.5 x - 0.01 x 6.31 x 3.87 x 3.34 x
EV / FCF 15.4 x 10.8 x - - - -24.2 x 3.17 x 3.88 x
FCF Yield 6.5% 9.27% - - - -4.13% 31.5% 25.8%
Price to Book 1.69 x 2.87 x -0.25 x - -0.39 x - - -
Nbr of stocks (in thousands) 414,815 414,815 414,815 414,815 414,815 447,073 447,073 -
Reference price 2 2.350 1.550 0.7500 0.6500 0.5700 1.370 1.370 1.370
Announcement Date 2/21/19 2/27/20 2/26/21 10/29/21 2/22/23 2/29/24 - -
1MYR in Million2MYR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 4,544 4,393 1,130 1,216 878.2 2,528 3,682 3,866
EBITDA 1 -76.68 830.9 -439.6 - 33,030 362.2 431.4 428.9
EBIT 1 -203.9 -90.14 -1,206 - 33,014 187.5 215.6 241.4
Operating Margin -4.49% -2.05% -106.72% - 3,759.35% 7.42% 5.86% 6.24%
Earnings before Tax (EBT) 1 -241.4 -324.1 -1,337 - 32,981 371 84.9 119.6
Net income 1 -312.7 -489.5 -1,338 - 32,983 369.1 84.9 119.6
Net margin -6.88% -11.14% -118.37% - 3,755.82% 14.6% 2.31% 3.09%
EPS -0.7500 -1.180 -3.220 -81.22 79.51 0.8260 0.1900 0.2680
Free Cash Flow 1 88.7 612.2 - - - -94.47 526.1 368.9
FCF margin 1.95% 13.94% - - - -3.74% 14.29% 9.54%
FCF Conversion (EBITDA) - 73.67% - - - 99.66% 121.95% 86.01%
FCF Conversion (Net income) - - - - - 107.85% 619.67% 308.44%
Dividend per Share - - - - - - - -
Announcement Date 2/21/19 2/27/20 2/26/21 10/29/21 2/22/23 2/29/24 - -
1MYR in Million
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S1 2022 Q3
Net sales 1 - 100.1
EBITDA - -
EBIT - -
Operating Margin - -
Earnings before Tax (EBT) - -
Net income -163.8 -
Net margin - -
EPS 2 - 0.0600
Dividend per Share - -
Announcement Date 8/22/19 11/22/22
1MYR in Million2MYR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 389 5,959 5,162 - - 1,451 1,056 818
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) -5.079 x 7.172 x -11.74 x - - 4.005 x 2.447 x 1.907 x
Free Cash Flow 1 88.7 612 - - - -94.5 526 369
ROE (net income / shareholders' equity) -39.9% -123% - - - - 49.3% 43.6%
ROA (Net income/ Total Assets) -6.87% -6.97% -14.5% - - 2.83% 2.7% 3.7%
Assets 1 4,555 7,023 9,198 - - 13,047 3,144 3,232
Book Value Per Share 1.390 0.5400 -3.020 - -1.450 - - -
Cash Flow per Share 0.2400 1.590 -0.9200 - - - - -
Capex 1 9.17 46.3 5.37 - - 8.69 10 10
Capex / Sales 0.2% 1.05% 0.48% - - 0.34% 0.27% 0.26%
Announcement Date 2/21/19 2/27/20 2/26/21 10/29/21 2/22/23 2/29/24 - -
1MYR in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
D+
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
1
Last Close Price
1.37 MYR
Average target price
1.52 MYR
Spread / Average Target
+10.95%
Consensus

Annual profits - Rate of surprise