Company Info
My Analysis
Research House
Accounting Ratio
My notes based on 2011 quarter 1 report (number in '000):-
- The revenue growth was supported by 17% growth in passenger volume offset by an average fare that was 5% lower at RM164 as compared to RM173 achieved in 1Q10. Ancillary income per passenger year-on-year rose by 31% to RM50 from RM38. Seat load factor was 6 percentage points higher at 80% compared to 74% in the same period last year
- Estimate next 4Q eps after 2011 Q1 result announced = (0.0618*1.2)+(0.0618*1.2*1.1*3) = 0.3189, estimate PE on current price 3.37 = 10.47(DPS 0.03)
AIRASIA latest news (English)
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| Market Capital (Capital Size) | 9,355,303,934 (Very Large) |
| Par Value | RM 0.10 |
My Analysis
| Forecast P/E now | (3.37-0.03)/0.3189 = 10.47 (Moderate) |
| Target Price | 4.46+0.03 = 4.49 (PE 14.0, EPS 0.3189, DPS 0.03) |
| Decision | Watching, buy when sell volume lower |
| Comment | Revenue decreased 11.7% but higher than preceding year corresponding quarter 20.4%, eps decreased 45.9% and is second consecutive quarter decreasing and also lower than preceding year corresponding quarter 32.1%, cash generated from operating enough to cover all expenses but still increased borrowing, stronger liquidity ratio but still at low level now, lower gearing ratio but still at very high level now, all accounting ratio also improved, oil price decreasing |
| First Support Price | 2.95 |
| Second Support Price | 2.5 |
| Risk Rating | MODERATE |
Research House
| HwangDBS Target Price | 2 (2011-05-05) |
| RHB Target Price | 2.66 (2011-05-16) |
| AMMB Target Price | 3.6 (2011-05-24) |
| ECM Target Price | 3.56 (2011-05-25) |
| HLG Target Price | 3.4 (2011-05-25) |
| OSK Target Price | 3.89 (2011-05-25) |
| Golman Sachs Target Price | 3.2 (2011-06-02) |
| CIMB Target Price | 4.2 (2011-06-24) |
| Credit Suisse Target Price | 4.8 (2011-06-27) |
| MIDF Target Price | 3.43 (2011-06-27) |
Accounting Ratio
| Return on Equity | 29.76% |
| Dividend Yield | 0.89% |
| Profit Margin | 19.36% |
| Tax Rate | 15.25% |
| Asset Turnover | 0.3148 |
| Net Asset Value Per Share | 1.37 |
| Net Tangible Asset per share | 1.37 |
| Price/Net Tangible Asset Per Share | 2.23 |
| Cash Per Share | 0.73 |
| Liquidity Current Ratio | 1.653 |
| Liquidity Quick Ratio | 1.6422 |
| Liquidity Cash Ratio | 1.2027 |
| Gearing Debt to Equity Ratio | 2.4645 |
| Gearing Debt to Asset Ratio | 0.7114 |
| Working capital per thousand Ringgit sale | 26.6% |
| Days to sell the inventory | 3 |
| Days to collect the receivables | 65 |
| Days to pay the payables | 169 |
My notes based on 2011 quarter 1 report (number in '000):-
- The revenue growth was supported by 17% growth in passenger volume offset by an average fare that was 5% lower at RM164 as compared to RM173 achieved in 1Q10. Ancillary income per passenger year-on-year rose by 31% to RM50 from RM38. Seat load factor was 6 percentage points higher at 80% compared to 74% in the same period last year
- Estimate next 4Q eps after 2011 Q1 result announced = (0.0618*1.2)+(0.0618*1.2*1.1*3) = 0.3189, estimate PE on current price 3.37 = 10.47(DPS 0.03)
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