China Southern Airlines Co Ltd (1055:HK)

Price Target: HK$11.00 Rating: Buy

Quick Scorecard

  • Earnings Outlook

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  • Digitalization Progress

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  • Pricing Power

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  • Balance Sheet Strength

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  • Defensiveness against Competitors

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  • Defensiveness against Higher Fuel Prices

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  • Defensiveness against Forex Risks

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  • Management Quality

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  • Information Disclosure

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  • Stock Trading Liquidity

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China Southern Airlines Financial Summary & Valuations

Year to December2019 (Forecast)*2018 (Forecast)*2017F20162015
Net profit (Rmb millions)67133863596150443736
Net profit margin4.1%2.7%4.7%4.4%3.3%
EPS (Rmb)0.560.380.600.510.38
EPS growth/decline47%-36%18%34%111%
DPS (Rmb)0.110.080.100.100.08
Dividend yield1.7%1.2%2.0%2.5%1.6%
ROE10.2%7.5%12.8%12.3%10.0%
P/E (x)11.717.18.37.813.0
Price/Book (x)1.151.241.010.911.24
*Forecast by Crucial Perspective

China Southern Airlines Operating Metrics (Jan-Jul 2018)

  • Hub Base: Guangzhou
  • Alliance: SkyTeam
  • Group Aircraft Fleet Size: 792 (As at End July 2018)
  • Passenger Traffic Growth (Decline): 12.5%
  • Cargo Traffic Growth (Decline): 6.4%
  • Passenger Load Factor: 82.4%
  • Cargo Load Factor: 51.4%
  • Passenger Load Factor Change: 0.1ppt
  • Cargo Load Factor Change: -1.2ppt

Latest Analysis (China Southern Airlines)