JAPAN AIRLINES CO., LTD. |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,558 JPY | +0.14% |
|
-0.41% | -7.84% |
| Jun. 25 | Japanese Ministry Panel Recommends Enhanced Air Traffic Safety Measures Post-Haneda Collision | MT |
| Jun. 25 | Toyota sold $2 bln worth of cross-held listed shares in FY2023/24, filing shows | RE |
Valuation
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 670,514 | 1,079,408 | 1,000,747 | 1,128,353 | 1,274,968 | 1,116,116 | - | - |
| Enterprise Value (EV) 1 | 533,141 | 1,172,086 | 1,391,625 | 1,414,609 | 1,448,394 | 1,306,587 | 1,281,388 | 1,281,224 |
| P/E ratio | 12.8 x | -3.23 x | -5.64 x | 32.8 x | 13.3 x | 10.6 x | 9.23 x | 8.67 x |
| Yield | 2.76% | - | - | 0.97% | 2.57% | 3.26% | 3.73% | 4% |
| Capitalization / Revenue | 0.48 x | 2.24 x | 1.47 x | 0.82 x | 0.77 x | 0.59 x | 0.56 x | 0.55 x |
| EV / Revenue | 0.38 x | 2.44 x | 2.04 x | 1.03 x | 0.88 x | 0.69 x | 0.64 x | 0.63 x |
| EV / EBITDA | 2.23 x | -5.43 x | -23 x | 6.35 x | 4.98 x | 4.18 x | 3.79 x | 3.64 x |
| EV / FCF | -3.3 x | -3.79 x | -5.02 x | 7.85 x | 9.93 x | 34.3 x | 12.3 x | 16.5 x |
| FCF Yield | -30.3% | -26.4% | -19.9% | 12.7% | 10.1% | 2.91% | 8.12% | 6.07% |
| Price to Book | 0.61 x | 1.14 x | 1.25 x | 1.38 x | 1.4 x | 1.14 x | 1.05 x | 0.97 x |
| Nbr of stocks (in thousands) | 336,942 | 437,007 | 437,007 | 437,007 | 437,007 | 437,007 | - | - |
| Reference price 2 | 1,990 | 2,470 | 2,290 | 2,582 | 2,918 | 2,554 | 2,554 | 2,554 |
| Announcement Date | 4/30/20 | 5/7/21 | 5/6/22 | 5/2/23 | 5/2/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,411,230 | 481,225 | 682,713 | 1,375,589 | 1,651,890 | 1,889,541 | 1,986,688 | 2,046,779 |
| EBITDA 1 | 238,667 | -215,800 | -60,623 | 222,760 | 290,892 | 312,237 | 338,529 | 352,178 |
| EBIT 1 | 100,632 | -398,300 | -234,767 | 64,563 | 140,932 | 166,178 | 188,325 | 200,715 |
| Operating Margin | 7.13% | -82.77% | -34.39% | 4.69% | 8.53% | 8.79% | 9.48% | 9.81% |
| Earnings before Tax (EBT) 1 | 96,513 | -404,078 | -246,617 | 52,429 | 139,306 | 160,470 | 179,709 | 189,780 |
| Net income 1 | 53,407 | -286,693 | -177,551 | 34,423 | 95,534 | 105,173 | 120,850 | 128,721 |
| Net margin | 3.78% | -59.58% | -26.01% | 2.5% | 5.78% | 5.57% | 6.08% | 6.29% |
| EPS 2 | 155.7 | -765.0 | -406.3 | 78.77 | 218.6 | 240.7 | 276.6 | 294.6 |
| Free Cash Flow 1 | -161,543 | -309,205 | -277,314 | 180,142 | 145,870 | 38,085 | 104,060 | 77,769 |
| FCF margin | -11.45% | -64.25% | -40.62% | 13.1% | 8.83% | 2.02% | 5.24% | 3.8% |
| FCF Conversion (EBITDA) | - | - | - | 80.87% | 50.15% | 12.2% | 30.74% | 22.08% |
| FCF Conversion (Net income) | - | - | - | 523.32% | 152.69% | 36.21% | 86.11% | 60.42% |
| Dividend per Share 2 | 55.00 | - | - | 25.00 | 75.00 | 83.20 | 95.17 | 102.2 |
| Announcement Date | 4/30/20 | 5/7/21 | 5/6/22 | 5/2/23 | 5/2/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 S1 | 2025 Q3 | 2025 Q4 | 2026 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 651,386 | 194,700 | 286,525 | 290,647 | 207,833 | 184,233 | 268,896 | 349,626 | 618,522 | 387,067 | 369,999 | 757,067 | 381,440 | 439,498 | 820,938 | 428,427 | 402,525 | 432,640 | 499,379 | 930,000 | 473,783 | 451,057 | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 19,316 | -223,900 | -174,400 | -141,703 | -31,842 | -61,222 | -30,186 | 26,228 | -3,958 | 37,900 | 30,621 | - | 187,424 | 59,852 | 91,235 | 37,564 | 14,980 | 30,061 | 69,451 | 107,000 | 43,269 | 23,574 | - |
| Operating Margin | 2.97% | -115% | -60.87% | -48.75% | -15.32% | -33.23% | -11.23% | 7.5% | -0.64% | 9.79% | 8.28% | - | 49.14% | 13.62% | 11.11% | 8.77% | 3.72% | 6.95% | 13.91% | 11.51% | 9.13% | 5.23% | - |
| Earnings before Tax (EBT) 1 | - | -228,252 | - | -154,446 | -34,246 | -57,925 | -28,808 | 25,974 | -2,834 | 27,499 | 27,764 | - | 31,897 | 57,198 | 89,095 | 34,875 | 15,336 | 34,000 | 66,000 | 100,000 | 39,000 | 18,000 | - |
| Net income 1 | - | -161,226 | - | -104,976 | -23,346 | -49,229 | -19,560 | 17,448 | -2,112 | - | 18,110 | - | 23,063 | 38,608 | 61,671 | 24,201 | 9,662 | 23,171 | 42,383 | 68,000 | 25,420 | 4,145 | - |
| Net margin | - | -82.81% | - | -36.12% | -11.23% | -26.72% | -7.27% | 4.99% | -0.34% | - | 4.89% | - | 6.05% | 8.78% | 7.51% | 5.65% | 2.4% | 5.36% | 8.49% | 7.31% | 5.37% | 0.92% | - |
| EPS 2 | - | -478.4 | - | -240.2 | -53.42 | -112.6 | -44.76 | 39.93 | -4.830 | 42.16 | 41.44 | - | 52.77 | 88.35 | 141.1 | 55.38 | 22.11 | 34.90 | 98.43 | - | 59.63 | 11.77 | - |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 30.00 | - | 45.00 | - | 40.00 | - | - | 40.00 | - |
| Announcement Date | 4/30/20 | 10/30/20 | 5/7/21 | 11/2/21 | 2/2/22 | 5/6/22 | 8/1/22 | 11/1/22 | 11/1/22 | 2/2/23 | 5/2/23 | 5/2/23 | 8/1/23 | 10/31/23 | 10/31/23 | 2/2/24 | 5/2/24 | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 92,678 | 390,878 | 286,256 | 173,426 | 190,471 | 165,272 | 165,107 |
| Net Cash position 1 | 137,373 | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | -0.4295 x | -6.448 x | 1.285 x | 0.5962 x | 0.61 x | 0.4882 x | 0.4688 x |
| Free Cash Flow 1 | -161,543 | -309,205 | -277,314 | 180,142 | 145,870 | 38,085 | 104,061 | 77,769 |
| ROE (net income / shareholders' equity) | 4.7% | -29.2% | -20.3% | 4.3% | 11.1% | 11.2% | 12.1% | 11.9% |
| ROA (Net income/ Total Assets) | 5.27% | -20.4% | -11% | 2.14% | 5.39% | 4.39% | 4.83% | 5% |
| Assets 1 | 1,012,649 | 1,407,164 | 1,612,297 | 1,606,045 | 1,772,697 | 2,394,875 | 2,503,098 | 2,577,007 |
| Book Value Per Share 2 | 3,249 | 2,168 | 1,830 | 1,868 | 2,082 | 2,239 | 2,432 | 2,632 |
| Cash Flow per Share 2 | 558.0 | -256.0 | 2.820 | 441.0 | 562.0 | 708.0 | 705.0 | 736.0 |
| Capex 1 | 239,611 | 89,686 | 161,306 | 117,488 | 218,075 | 256,000 | 244,000 | 256,000 |
| Capex / Sales | 16.98% | 18.64% | 23.63% | 8.54% | 13.2% | 13.55% | 12.28% | 12.51% |
| Announcement Date | 4/30/20 | 5/7/21 | 5/6/22 | 5/2/23 | 5/2/24 | - | - | - |
1JPY in Million2JPY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
BUY
Number of Analysts
11
Last Close Price
2,554
JPY
Average target price
3,176
JPY
Spread / Average Target
+24.35%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -7.84% | 6.91B | |
| +16.11% | 30.14B | |
| -16.64% | 19.32B | |
| +43.40% | 19.65B | |
| +5.34% | 18B | |
| +16.82% | 15.85B | |
| -25.91% | 13.99B | |
| -10.57% | 12.7B | |
| +30.69% | 12.61B | |
| +3.35% | 10.74B |
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