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 1,856 - -
Change - -15.53% 34.94% 23.37% -57.54% 0.92% - -
Enterprise Value (EV) 1 18,552 19,995 26,492 5,477 2,753 2,611 2,273 1,846
Change - 7.78% 32.5% -79.33% -49.74% -5.17% -12.93% -18.79%
P/E -0.95x -1.02x 4.13x -9.01x 0.14x 9.02x 6.61x 5x
PBR -0.99x -0.44x -0.4x -0.49x - 1.54x 1.25x 0.82x
PEG - 0x -0x 0x -0x -0.1x 0.2x 0.2x
Capitalization / Revenue 3.09x 0.39x 0.24x 2.89x 0.92x 0.54x 0.5x 0.46x
EV / Revenue 18.6x 3.03x 1.79x 3.66x 1.38x 0.75x 0.61x 0.46x
EV / EBITDA -17.3x 55.4x 13.2x -8.26x -5.56x 4.76x 3.43x 2.33x
EV / EBIT -6.57x -17.7x 94.5x -7.16x -4.57x 6.49x 5.19x 3.72x
EV / FCF -51.2x -1,363x 34.2x 1.75x 0.51x 16.4x 6.74x 4.32x
FCF Yield -1.95% -0.07% 2.92% 57.3% 196% 6.1% 14.8% 23.1%
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 0.4150 0.4150 0.4150
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.($)
9.02x0.75x4.76x - 454M
19.71x1.06x9.01x0.85% 60.49B
13.89x0.93x7.92x-.--% 44.18B
14.27x1.58x7.08x1.71% 32.54B
9.56x0.87x4.22x1.87% 28.3B
-382.42x2.81x14.82x0.18% 22.34B
25.87x1.26x6.16x3.51% 18.64B
10.63x1.29x5.17x2.8% 16.79B
-15.06x1.55x10.25x-.--% 14.49B
9.51x0.43x4.22x3.15% 13.4B
Average -28.50x 1.25x 7.36x 1.56% 25.16B
Weighted average by Cap. -21.57x 1.26x 7.89x 1.27%

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