Stock 603885 JUNEYAO AIRLINES CO., LTD
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Financials Juneyao Airlines Co., Ltd

Equities

603885

CNE100001ZY0

Airlines

End-of-day quote Shanghai S.E.
Other stock markets
 06:00:00 2024-04-25 pm EDT 		5-day change 1st Jan Change
12.53 CNY +0.48% Intraday chart for Juneyao Airlines Co., Ltd +4.77% +4.42%
Apr. 10 Juneyao Airlines Returns to Profit in 2023 on 145% Surge in Operating Income MT
Apr. 09 Juneyao Airlines to Merge With Subsidiary Through 2.17 Billion Yuan Debt-for-Equity Capital Swap MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 29,492 22,297 34,804 35,736 26,503 27,615 - -
Enterprise Value (EV) 1 40,866 34,853 50,609 53,195 42,844 39,785 34,663 29,724
P/E ratio 27.8 x -47.4 x -71 x -7.97 x 35.3 x 14 x 9.71 x 8.55 x
Yield 0.67% 0.88% - - 0.58% 1.84% 2.98% 2.96%
Capitalization / Revenue 1.76 x 2.21 x 2.96 x 4.35 x 1.32 x 1.12 x 1.01 x 0.95 x
EV / Revenue 2.44 x 3.45 x 4.3 x 6.48 x 2.13 x 1.62 x 1.26 x 1.02 x
EV / EBITDA 19.3 x 128 x 591 x -11.8 x 20.5 x 6.91 x 4.96 x 3.9 x
EV / FCF - - -112 x -36 x - 19.1 x 11.5 x 8.4 x
FCF Yield - - -0.89% -2.78% - 5.24% 8.66% 11.9%
Price to Book 2.29 x 2.06 x 3.47 x 3.75 x 3.16 x 2.55 x 1.97 x 1.74 x
Nbr of stocks (in thousands) 1,966,144 1,960,994 1,960,761 2,208,622 2,208,622 2,203,935 - -
Reference price 2 15.00 11.37 17.75 16.18 12.00 12.53 12.53 12.53
Announcement Date 4/10/20 4/19/21 4/19/22 4/17/23 4/8/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 16,749 10,102 11,767 8,210 20,096 24,630 27,409 29,182
EBITDA 1 2,114 271.6 85.7 -4,525 2,092 5,756 6,986 7,614
EBIT 1 1,287 -748.9 -793.5 -5,495 965.3 2,441 3,663 4,282
Operating Margin 7.68% -7.41% -6.74% -66.93% 4.8% 9.91% 13.36% 14.67%
Earnings before Tax (EBT) 1 1,397 -646 -660.2 -5,485 968.5 2,541 3,639 4,027
Net income 1 994.5 -473.8 -497.6 -4,148 751.3 1,974 2,860 3,335
Net margin 5.94% -4.69% -4.23% -50.52% 3.74% 8.02% 10.43% 11.43%
EPS 2 0.5400 -0.2400 -0.2500 -2.030 0.3400 0.8923 1.290 1.465
Free Cash Flow 1 - - -452.7 -1,480 - 2,084 3,003 3,540
FCF margin - - -3.85% -18.02% - 8.46% 10.96% 12.13%
FCF Conversion (EBITDA) - - - - - 36.21% 42.99% 46.49%
FCF Conversion (Net income) - - - - - 105.56% 105.01% 106.14%
Dividend per Share 2 0.1000 0.1000 - - 0.0690 0.2306 0.3730 0.3705
Announcement Date 4/10/20 4/19/21 4/19/22 4/17/23 4/8/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 - 6,049 3,081 - - - - - 4,442 - - 6,549 4,216 5,366 5,977 7,642 5,672
EBITDA - - - - - - - - - - - - - - - - -
EBIT - - - - - - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - - - - - -
Net income -675.4 102.1 -152 -447.8 - -1,346 -1,890 - 165.1 -102.7 62.41 - - - - - -
Net margin - 1.69% -4.93% - - - - - 3.72% - - - - - - - -
EPS 2 - - -0.0800 -0.2200 -0.2800 -0.6800 - -0.5400 - -0.0400 0.0300 0.4800 -0.1700 0.1300 0.1100 0.5300 0.0400
Dividend per Share - - - - - - - - - - - - - - - - -
Announcement Date 8/18/20 8/2/21 10/27/21 4/19/22 4/28/22 8/30/22 8/30/22 10/28/22 4/28/23 8/21/23 8/21/23 10/30/23 4/8/24 - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 11,374 12,556 15,806 17,460 16,340 12,170 7,048 2,109
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.379 x 46.23 x 184.4 x -3.858 x 7.812 x 2.114 x 1.009 x 0.277 x
Free Cash Flow 1 - - -453 -1,480 - 2,084 3,003 3,540
ROE (net income / shareholders' equity) 9.19% -3.99% -4.83% -44.1% 8.34% 18.7% 20.7% 20.7%
ROA (Net income/ Total Assets) 3.64% -1.45% -1.31% - - 4.05% 4.68% 6.47%
Assets 1 27,298 32,720 38,083 - - 48,745 61,102 51,577
Book Value Per Share 2 6.560 5.520 5.110 4.310 3.800 4.920 6.350 7.200
Cash Flow per Share 2 1.390 0.3100 0.7900 0.0900 2.890 2.310 2.720 3.000
Capex 1 2,991 568 2,010 1,687 - 2,587 1,487 2,191
Capex / Sales 17.86% 5.62% 17.08% 20.55% - 10.5% 5.43% 7.51%
Announcement Date 4/10/20 4/19/21 4/19/22 4/17/23 4/8/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Juneyao Airlines Co., Ltd

Trading Rating
Investor Rating
ESG Refinitiv
C-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
14
Last Close Price
12.53 CNY
Average target price
17.8 CNY
Spread / Average Target
+42.07%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Regional Airlines

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