Financials China Southern Airlines Company Limited

Equities

1055

CNE1000002T6

Airlines

Market Closed - Hong Kong S.E. 03:08:09 2025-02-07 am EST 5-day change 1st Jan Change
3.620 HKD +0.56% Intraday chart for China Southern Airlines Company Limited -2.43% -11.27%

Projected Income Statement: China Southern Airlines Company Limited

Forecast Balance Sheet: China Southern Airlines Company Limited

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 183,405 137,880 152,563 109,045 161,192 192,760 188,871 179,801
Change - -24.82% 10.65% -28.52% 47.82% 19.58% -2.02% -4.8%
Announcement Date 3/30/20 3/30/21 3/30/22 3/28/23 3/27/24 - - -
1CNY in Million
Estimates

Cash Flow Forecast: China Southern Airlines Company Limited

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
CAPEX 1 15,622 11,061 16,147 6,897 11,369 13,844 14,932 15,352
Change - -29.2% 45.98% -57.29% 64.84% 21.77% 7.86% 2.81%
Free Cash Flow (FCF) 1 15,553 -2,012 -2,776 -3,432 22,738 9,836 22,733 11,864
Change - -112.94% 37.97% 23.63% -762.53% -56.74% 131.12% -47.81%
Announcement Date 3/30/20 3/30/21 3/30/22 3/28/23 3/27/24 - - -
1CNY in Million
Estimates

Forecast Financial Ratios: China Southern Airlines Company Limited

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026

Profitability

        
EBITDA Margin (%) 22.7% 9.66% 11.95% -26.25% 5.42% 18.74% 19.49% 20.16%
EBIT Margin (%) 2.07% -17.88% -14.46% -36.99% -1.34% 3.25% 3.78% 5.52%
EBT Margin (%) 2.64% -16.42% -13.69% -36.21% -1.03% 1.75% 3.94% 5.78%
Net margin (%) 1.72% -11.72% -11.91% -37.54% -2.63% -0.2% 2.63% 4.12%
FCF margin (%) 10.08% -2.17% -2.73% -3.94% 14.22% 13.27% 5.41% 10.76%
FCF / Net Income (%) 586.68% 18.55% 22.93% 10.5% -540.22% -6,606.65% 205.96% 261.39%

Profitability

        
ROA 1.03% -3.43% -3.73% -10.3% -1.33% 0.38% 1.82% 2.99%
ROE 4.08% -14.6% -17.62% -62.19% -10.64% 1.26% 11.75% 16.47%

Financial Health

        
Leverage (Debt/EBITDA) 5.24x 15.42x 12.56x -4.77x 18.58x 5.76x 5.03x 4.31x
Debt / Free cash flow 11.79x -68.53x -54.96x -31.77x 7.09x 19.6x 8.31x 15.16x

Capital Intensity

        
CAPEX / Current Assets (%) 10.12% 11.95% 15.89% 7.92% 7.11% 7.76% 7.75% 7.41%
CAPEX / EBITDA (%) 44.59% 123.72% 132.98% -30.18% 131.07% 41.38% 39.76% 36.78%
CAPEX / FCF (%) 100.44% -549.75% -581.66% -200.96% 50% 140.75% 65.68% 129.4%

Items per share

        
Cash flow per share 1 2.541 -0.4414 0.8284 0.2014 1.895 1.469 1.55 1.824
Change - -117.37% -287.66% -75.69% 840.81% -22.49% 5.57% 17.64%
Dividend per Share 1 - - - - - - 0.0108 0.0158
Change - - - - - - - 45.85%
Book Value Per Share 1 5.226 4.539 4.188 2.399 2.03 2.157 2.441 2.93
Change - -13.14% -7.74% -42.72% -15.39% 6.28% 13.15% 20.01%
EPS 1 0.22 -0.77 -0.75 -1.9 -0.23 0.0195 0.2731 0.4346
Change - -450% -2.6% 153.33% -87.89% -108.48% 1,299.59% 59.16%
Nbr of stocks (in thousands) 12,267,172 15,329,302 16,948,417 18,120,890 18,120,906 18,120,912 18,120,912 18,120,912
Announcement Date 3/30/20 3/30/21 3/30/22 3/28/23 3/27/24 - - -
1CNY
Estimates
2024 *2025 *
P/E ratio 174x 12.4x
PBR 1.57x 1.39x
EV / Sales 1.61x 1.47x
Yield - 0.32%
More valuation ratios * Estimated data

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Trading Rating
Investor Rating
ESG MSCI
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
12
Last Close Price
3.387CNY
Average target price
3.748CNY
Spread / Average Target
+10.67%
Consensus

Quarterly revenue - Rate of surprise

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