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 1,788 - -
Change - -15.53% 34.94% 23.37% -57.54% -2.72% - -
Enterprise Value (EV) 1 18,552 19,995 26,492 5,477 2,753 2,544 2,206 1,779
Change - 7.78% 32.5% -79.33% -49.74% -7.6% -13.27% -19.36%
P/E -0.95x -1.02x 4.13x -9.01x 0.14x 8.7x 6.37x 4.82x
PBR -0.99x -0.44x -0.4x -0.49x - 1.48x 1.2x 0.79x
PEG - 0x -0x 0x -0x -0.1x 0.2x 0.1x
Capitalization / Revenue 3.09x 0.39x 0.24x 2.89x 0.92x 0.52x 0.48x 0.44x
EV / Revenue 18.6x 3.03x 1.79x 3.66x 1.38x 0.74x 0.59x 0.44x
EV / EBITDA -17.3x 55.4x 13.2x -8.26x -5.56x 4.64x 3.33x 2.24x
EV / EBIT -6.57x -17.7x 94.5x -7.16x -4.57x 6.33x 5.04x 3.59x
EV / FCF -51.2x -1,363x 34.2x 1.75x 0.51x 16x 6.54x 4.16x
FCF Yield -1.95% -0.07% 2.92% 57.3% 196% 6.26% 15.3% 24%
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 0.4000 0.4000 0.4000
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.64x1x7.6x0.89% 57.1B
11.14x0.88x6.92x-.--% 40.9B
14.02x1.56x6.86x1.75% 32.21B
9.39x0.86x4.12x1.89% 27.94B
-372.73x2.74x14.49x0.19% 21.54B
28.12x1.26x6.26x3.41% 18.82B
-13.78x1.54x10x-.--% 13.62B
9.08x0.42x4.18x3.31% 13.04B
-121.49x1.53x8.67x-.--% 12.18B
Average -46.84x 1.31x 7.68x 1.27% 26.37B
Weighted average by Cap. -29.66x 1.24x 7.50x 1.14%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA