Valuation Cathay Pacific Airways Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 03:08:19 2026-03-06 am EST			5-day change	1st Jan Change
12.83 ^HKD	-1.16%		-8.75%	+3.22%

Mar. 06	Hong Kong authorities rule out chartering Cathay Pacific flights to Middle East - SCMP	RE
Mar. 06	Airlines cancel flights as Middle East conflict escalates	RE

Data adjusted to current consolidation scope

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	46,155	41,134	54,845	52,533	61,432	78,021	78,021	-
Change	-	-10.88%	33.33%	-4.21%	16.94%	27%	0%	-
Enterprise Value (EV) ¹	119,943	130,988	113,674	105,297	119,373	124,673	120,715	115,322
Change	-	9.21%	-13.22%	-7.37%	13.37%	4.44%	-3.18%	-4.47%
P/E ratio	-1.69x	-6.72x	-7.65x	6.49x	7.16x	9.4x	9.14x	8.19x
PBR	0.63x	0.57x	0.86x	1.01x	1.34x	1.5x	1.4x	1.3x
PEG	-	0.1x	-0.4x	-0x	1.22x	3.81x	3.24x	0.7x
Capitalization / Revenue	0.98x	0.9x	1.07x	0.56x	0.59x	0.69x	0.67x	0.63x
EV / Revenue	2.56x	2.87x	2.23x	1.11x	1.14x	1.11x	1.03x	0.93x
EV / EBITDA	44.2x	10.6x	7.22x	4.16x	4.73x	4.81x	4.83x	4.54x
EV / EBIT	-10.2x	-291x	32.1x	8.1x	9.06x	9.34x	9.83x	9.18x
EV / FCF	-6.09x	20x	8.06x	5.37x	8.33x	6.84x	8.76x	7.97x
FCF Yield	-16.4%	5.01%	12.4%	18.6%	12%	14.6%	11.4%	12.5%
Dividend per Share ²	-	-	-	0.43	0.69	0.6602	0.6652	0.7194
Rate of return	-	-	-	5.27%	7.23%	5.15%	5.18%	5.61%
EPS ²	-4.243	-0.951	-1.113	1.258	1.332	1.365	1.403	1.567
Distribution rate	-	-	-	34.2%	51.8%	48.4%	47.4%	45.9%
Net sales ¹	46,934	45,587	51,036	94,485	104,371	112,282	116,821	123,587
EBITDA ¹	2,716	12,336	15,735	25,323	25,236	25,899	25,018	25,391
EBIT ¹	-11,705	-450	3,546	12,999	13,177	13,354	12,276	12,557
Net income ¹	-21,876	-6,123	-7,162	9,067	9,607	8,812	8,974	10,093
Net Debt ¹	73,788	89,854	58,829	52,764	57,941	46,652	42,694	37,301
Reference price ²	7.17	6.39	8.52	8.16	9.54	12.83	12.83	12.83
Nbr of stocks (in thousands)	6,437,200	6,437,200	6,437,200	6,437,900	6,439,409	6,081,128	6,081,128	-
Announcement Date	3/10/21	3/9/22	3/8/23	3/13/24	3/12/25	-	-	-

¹HKD in Million²HKD

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (N)	EV / Sales (N)	EV / EBITDA (N)	Dividend Yield (N)	Capi.($)
CATHAY PACIFIC AIRWAYS LIMITED	9.4x	1.11x	4.81x	5.15%	9.98B
DELTA AIR LINES, INC.	8.05x	0.79x	5.32x	1.29%	38.33B
RYANAIR HOLDINGS PLC	12.66x	1.63x	6.71x	1.78%	31.89B
UNITED AIRLINES HOLDINGS, INC.	6.97x	0.75x	5.13x	-.--%	29.78B
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A.	5.93x	0.7x	3.07x	3.01%	22.21B
INTERGLOBE AVIATION LIMITED	57.51x	2.29x	11.21x	0.23%	18.53B
AIR CHINA LIMITED	1503.54x	1.8x	9.36x	-.--%	17.67B
SINGAPORE AIRLINES LIMITED	19.09x	1.3x	5.9x	4.11%	16.4B
CHINA SOUTHERN AIRLINES COMPANY LIMITED	97.51x	1.78x	8.89x	0.08%	15.87B
CHINA EASTERN AIRLINES CORPORATION LIMITED	124.85x	2.04x	9.35x	-.--%	15.56B
Average	184.55x	1.42x	6.98x	1.56%	21.62B
Weighted average by Cap.	150.68x	1.33x	6.68x	1.37%