Company Valuation: Spring Airlines Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 52,055 62,747 49,026 56,333 57,787 44,084 - -
Change - 20.54% -21.87% 14.91% 2.58% -23.71% - -
Enterprise Value (EV) 1 61,567 74,458 57,464 64,522 68,206 56,410 56,072 60,426
Change - 20.94% -22.82% 12.28% 5.71% -17.29% -0.6% 7.77%
P/E 1,420x -19.5x 21.7x 24.8x 25x 18.8x 14.8x 12x
PBR 3.79x 4.59x 3.12x 3.25x 3.2x 2.23x 2.03x 1.9x
PEG - 0x -0x 28.64x 11.65x 6.96x 0.6x 0.5x
Capitalization / Revenue 4.79x 7.5x 2.73x 2.82x 2.69x 1.78x 1.64x 1.44x
EV / Revenue 5.67x 8.9x 3.2x 3.23x 3.18x 2.28x 2.08x 1.97x
EV / EBITDA 52.7x -35.4x 14x 14.1x 12.1x 9.28x 7.94x 7.16x
EV / EBIT 10,353x -21.8x 22x 24.4x 22.4x 21.2x 15.6x 13.4x
EV / FCF -13.7x -18x 16.5x - 234x 42.9x 21.8x -
FCF Yield -7.32% -5.55% 6.08% - 0.43% 2.33% 4.58% -
Dividend per Share 2 - - 0.7 0.82 0.53 0.9148 1.173 1.72
Rate of return - - 1.39% 1.42% 0.89% 1.99% 2.56% 3.75%
EPS 2 0.04 -3.3 2.31 2.33 2.38 2.444 3.091 3.833
Distribution rate - - 30.3% 35.2% 22.3% 37.4% 38% 44.9%
Net sales 1 10,858 8,369 17,938 20,000 21,460 24,765 26,953 30,701
EBITDA 1 1,169 -2,102 4,097 4,589 5,648 6,076 7,059 8,435
EBIT 1 5.947 -3,417 2,616 2,649 3,041 2,660 3,601 4,500
Net income 1 39.11 -3,036 2,257 2,273 2,317 2,340 3,057 3,739
Net Debt 1 9,512 11,711 8,439 8,189 10,419 12,327 11,988 16,342
Reference price 2 56.80 64.25 50.20 57.67 59.50 45.86 45.86 45.86
Nbr of stocks (in thousands) 9,16,463 9,76,606 9,76,606 9,76,815 9,71,213 9,61,270 - -
Announcement Date 28/04/22 27/04/23 29/04/24 29/04/25 10/04/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.76x2.28x9.28x1.99% 648.7Cr
15.25x1.01x8.12x0.88% 5.82TCr
11.45x0.9x7.04x-.--% 4.19TCr
13.9x1.54x6.79x1.76% 3.19TCr
9.29x0.85x4.09x1.91% 2.76TCr
-366.94x2.71x14.29x0.19% 2.12TCr
28.01x1.25x6.24x3.42% 1.87TCr
-13.31x1.54x9.95x-.--% 1.34TCr
8.95x0.42x4.14x3.36% 1.29TCr
-120.07x1.52x8.64x-.--% 1.2TCr
Average -39.47x 1.40x 7.86x 1.35% 2.44TCr
Weighted average by Cap. -26.87x 1.26x 7.64x 1.16%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

  1. Stock Market
  2. Stocks
  3. 601021 Stock
  4. Valuation Spring Airlines Co., Ltd.