Financials Japan Airlines Co., Ltd.

Equities

9201

JP3705200008

Airlines

Delayed Japan Exchange 12:00:37 2023-11-30 am EST Intraday chart for Japan Airlines Co., Ltd. 5-day change 1st Jan Change
2,802.00 JPY 0.00% -2.51% +3.93%

Valuation

Fiscal Period : March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1 360 075 670 514 1 079 408 1 000 747 1 128 353 1 224 494 - -
Enterprise Value (EV) 1 980 354 533 141 1 172 086 1 391 625 1 414 609 1 466 694 1 394 888 1 337 868
P/E ratio 9,02x 12,8x -3,23x -5,64x 32,8x 13,1x 11,2x 10,6x
Yield 2,82% 2,76% - - 0,97% 2,49% 2,84% 3,19%
Capitalization / Revenue 0,91x 0,48x 2,24x 1,47x 0,82x 0,73x 0,69x 0,67x
EV / Revenue 0,66x 0,38x 2,44x 2,04x 1,03x 0,87x 0,78x 0,73x
EV / EBITDA 3,26x 2,23x -5,43x -23,0x 6,35x 4,87x 4,23x 4,21x
EV / FCF 9,16x -3,30x -3,79x -5,02x 7,85x 26,7x 13,4x 11,4x
FCF Yield 10,9% -30,3% -26,4% -19,9% 12,7% 3,74% 7,48% 8,77%
Price to Book 1,17x 0,61x 1,14x 1,25x 1,38x 1,37x 1,27x 1,17x
Nbr of stocks (in thousands) 348 827 336 942 437 007 437 007 437 007 437 007 - -
Reference price 2 3 899 1 990 2 470 2 290 2 582 2 802 2 802 2 802
Announcement Date 04/26/19 04/30/20 05/07/21 05/06/22 05/02/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period : March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1 487 261 1 411 230 481 225 682 713 1 375 589 1 678 538 1 786 498 1 831 979
EBITDA 1 300 264 238 667 -215 800 -60 623 222 760 301 227 329 550 318 052
EBIT 1 176 160 100 632 -398 300 -234 767 64 563 139 175 163 233 170 927
Operating Margin 11,8% 7,13% -82,8% -34,4% 4,69% 8,29% 9,14% 9,33%
Earnings before Tax (EBT) 1 156 240 96 513 -404 078 -246 617 52 429 140 869 154 118 165 997
Net income 1 150 807 53 407 -286 693 -177 551 34 423 93 208 108 764 115 461
Net margin 10,1% 3,78% -59,6% -26,0% 2,50% 5,55% 6,09% 6,30%
EPS 2 432 156 -765 -406 78,8 213 249 265
Free Cash Flow 1 107 004 -161 543 -309 205 -277 314 180 142 54 900 104 353 117 299
FCF margin 7,19% -11,4% -64,3% -40,6% 13,1% 3,27% 5,84% 6,40%
FCF Conversion (EBITDA) 35,6% - - - 80,9% 18,2% 31,7% 36,9%
FCF Conversion (Net income) 71,0% - - - 523% 58,9% 95,9% 102%
Dividend per Share 2 110 55,0 - - 25,0 69,9 79,6 89,4
Announcement Date 04/26/19 04/30/20 05/07/21 05/06/22 05/02/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period : March 2020 S1 2020 S2 2021 S1 2021 S2 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4
Net sales 1 759 844 651 386 194 700 286 525 133 032 157 615 290 647 207 833 184 233 268 896 349 626 618 522 387 067 369 999 757 067 381 440 439 498 820 938 435 625 425 366
EBITDA - - - - - - - - - - - - - - - - - - - -
EBIT 1 81 316 19 316 -223 900 -174 400 -82 645 -64 858 -141 703 -31 842 -61 222 -30 186 26 228 -3 958 37 900 30 621 - 187 424 59 852 91 235 34 233 15 422
Operating Margin 10,7% 2,97% -115% -60,9% -62,1% -41,1% -48,8% -15,3% -33,2% -11,2% 7,50% -0,64% 9,79% 8,28% - 49,1% 13,6% 11,1% 7,86% 3,63%
Earnings before Tax (EBT) 1 78 803 - -228 252 - -83 885 -70 561 -154 446 -34 246 -57 925 -28 808 25 974 -2 834 27 499 27 764 - 31 897 57 198 89 095 41 000 -1 500
Net income 1 51 203 - -161 226 - -57 919 -47 057 -104 976 -23 346 -49 229 -19 560 17 448 -2 112 - 18 110 - 23 063 38 608 61 671 29 000 -2 500
Net margin 6,74% - -82,8% - -43,5% -29,9% -36,1% -11,2% -26,7% -7,27% 4,99% -0,34% - 4,89% - 6,05% 8,78% 7,51% 6,66% -0,59%
EPS 2 148 - -478 - -133 -108 -240 -53,4 -113 -44,8 39,9 -4,83 42,2 41,4 - 52,8 88,4 141 35,2 18,4
Dividend per Share 55,0 - - - - - - - - - - - - - - - - - - -
Announcement Date 10/31/19 04/30/20 10/30/20 05/07/21 08/03/21 11/02/21 11/02/21 02/02/22 05/06/22 08/01/22 11/01/22 11/01/22 02/02/23 05/02/23 05/02/23 08/01/23 10/31/23 10/31/23 - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period : March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - 92 678 390 878 286 256 242 200 170 394 113 374
Net Cash position 1 379 721 137 373 - - - - - -
Leverage (Debt/EBITDA) - - -0,43x -6,45x 1,29x 0,80x 0,52x 0,36x
Free Cash Flow 1 107 004 -161 543 -309 205 -277 314 180 142 54 900 104 353 117 299
ROE (net income / shareholders' equity) 13,6% 4,70% -29,2% -20,3% 4,30% 11,0% 11,6% 11,6%
Shareholders' equity 1 1 108 875 1 136 319 981 825 874 635 800 535 843 910 935 957 996 556
ROA (Net income/ Total Assets) 8,51% 5,27% -20,4% -11,0% 2,14% 3,50% 3,94% 3,98%
Assets 1 1 771 341 1 012 649 1 407 164 1 612 297 1 606 045 2 663 078 2 759 447 2 899 755
Book Value Per Share 2 3 340 3 249 2 168 1 830 1 868 2 051 2 208 2 388
Cash Flow per Share 2 788 558 -256 2,82 441 506 543 545
Capex 1 222 126 239 611 89 686 161 306 117 488 187 915 182 915 182 915
Capex / Sales 14,9% 17,0% 18,6% 23,6% 8,54% 11,2% 10,2% 9,98%
Announcement Date 04/26/19 04/30/20 05/07/21 05/06/22 05/02/23 - - -
1JPY in Million2JPY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating :
Investor Rating :
ESG Refinitiv :
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
10
Last Close Price
2,802.00JPY
Average target price
3,465.00JPY
Spread / Average Target
+23.66%
Consensus
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