Company Valuation: AirAsia Group

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,079 2,601 3,510 4,330 1,839 1,811 - -
Change - -15.53% 34.94% 23.37% -57.54% -1.51% - -
Enterprise Value (EV) 1 18,552 19,995 26,492 5,477 2,753 2,566 2,228 1,801
Change - 7.78% 32.5% -79.33% -49.74% -6.79% -13.15% -19.17%
P/E -0.95x -1.02x 4.13x -9.01x 0.14x 8.8x 6.45x 4.88x
PBR -0.99x -0.44x -0.4x -0.49x - 1.5x 1.22x 0.8x
PEG - 0x -0x 0x -0x -0.1x 0.2x 0.2x
Capitalization / Revenue 3.09x 0.39x 0.24x 2.89x 0.92x 0.52x 0.49x 0.45x
EV / Revenue 18.6x 3.03x 1.79x 3.66x 1.38x 0.74x 0.6x 0.45x
EV / EBITDA -17.3x 55.4x 13.2x -8.26x -5.56x 4.68x 3.36x 2.27x
EV / EBIT -6.57x -17.7x 94.5x -7.16x -4.57x 6.38x 5.09x 3.63x
EV / FCF -51.2x -1,363x 34.2x 1.75x 0.51x 16.1x 6.6x 4.22x
FCF Yield -1.95% -0.07% 2.92% 57.3% 196% 6.2% 15.1% 23.7%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -0.83 -0.612 0.2 -0.111 3.001 0.046 0.0628 0.083
Distribution rate - - - - - - - -
Net sales 1 996.7 6,606 14,772 1,498 1,994 3,459 3,730 4,027
EBITDA 1 -1,072 360.9 2,009 -663.2 -494.9 548.3 662.5 792.9
EBIT 1 -2,823 -1,126 280.5 -765.3 -602.8 402 438 495.6
Net income 1 -3,119 -2,480 837 -475.1 13,034 194 260.4 395.8
Net Debt 1 15,472 17,393 22,982 1,147 914.3 755.1 417.6 -9.6
Reference price 2 0.7900 0.6250 0.8250 1.0000 0.4150 0.4050 0.4050 0.4050
Nbr of stocks (in thousands) 3,898,053 4,161,793 4,254,582 4,330,434 4,430,196 4,471,141 - -
Announcement Date 2/28/22 A 2/28/23 A 2/29/24 A 2/28/25 A 2/25/26 A - - -
1MYR in Million2MYR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.8x0.74x4.68x - 443M
19.94x1.06x9.1x0.84% 61.2B
13.87x0.93x7.91x-.--% 44.14B
14.29x1.59x7.06x1.71% 32.8B
9.48x0.87x4.19x1.89% 28.11B
-376.69x2.77x14.62x0.19% 21.95B
25.97x1.26x6.18x3.5% 18.7B
-14.13x1.53x10.08x-.--% 13.75B
9.66x0.44x4.28x3.11% 13.71B
-131.07x1.5x8.53x-.--% 12.28B
Average -41.99x 1.27x 7.66x 1.25% 24.71B
Weighted average by Cap. -27.86x 1.27x 8.08x 1.11%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation AirAsia Group