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 1,475 - -
Change - -15.53% 34.94% 23.37% -57.54% -19.75% - -
Enterprise Value (EV) 1 18,552 19,995 26,492 5,477 2,753 2,231 1,893 1,466
Change - 7.78% 32.5% -79.33% -49.74% -18.97% -15.13% -22.57%
P/E -0.95x -1.02x 4.13x -9.01x 0.14x 7.17x 5.26x 3.98x
PBR -0.99x -0.44x -0.4x -0.49x 1.89x 1.22x 0.99x 0.65x
PEG - 0x -0x 0x -0x -0.1x 0.1x 0.1x
Capitalization / Revenue 3.09x 0.39x 0.24x 2.89x 0.92x 0.43x 0.4x 0.37x
EV / Revenue 18.6x 3.03x 1.79x 3.66x 1.38x 0.64x 0.51x 0.36x
EV / EBITDA -17.3x 55.4x 13.2x -8.26x -5.56x 4.07x 2.86x 1.85x
EV / EBIT -6.57x -17.7x 94.5x -7.16x -4.57x 6.29x 4.94x 3.36x
EV / FCF -51.2x -1,363x 34.2x 1.75x 0.51x 14x 5.61x 3.43x
FCF Yield -1.95% -0.07% 2.92% 57.3% 196% 7.14% 17.8% 29.1%
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 -602.8 354.4 383 435.9
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 0.3300 0.3300 0.3300
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 2/28/23 2/29/24 2/28/25 2/25/26 - - -
1MYR in Million2MYR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.03x0.93x7.19x0.93% 53.07B
10.53x0.81x6.66x-.--% 36.48B
13.66x1.38x6.24x1.83% 28.03B
8.49x0.82x3.87x2.13% 26.15B
69.24x2.36x13.76x0.06% 21.01B
28.67x1.12x5.95x3.58% 17.15B
-11.71x1.6x11.79x-.--% 16.11B
11.28x1.18x4.91x3.09% 14.69B
-48x1.56x9.77x-.--% 12.02B
Average 10.58x 1.31x 7.79x 1.29% 24.97B
Weighted average by Cap. 13.47x 1.20x 7.44x 1.18%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA