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ANA Holdings Valuation Multiples
Discover revenue and EBITDA valuation multiples for ANA Holdings and similar public comparables like American Airlines, Cathay Pacific Airways, Japan Airlines, Air Arabia and more.
ANA Holdings Overview
About ANA Holdings
ANA Holdings is the holding firm of Japan’s largest airline, All Nippon Airways. Besides the flagship carrier, ANA also owns discount airline Peach Aviation, Hokkaido-based Air Do, and airfreight carrier Nippon Cargo Airlines. Air Japan, which was launched to provide discount flights to Southeast Asia, will cease in 2026. Pre-covid-19, passenger transport made up over 50% of group revenue, split almost equally between domestic and international passenger routes while cargo revenue made up 4%-5%. Its primary hub is Tokyo’s Narita International Airport, but it is also expanding routes from Haneda Airport. ANA has minor stakes in Philippine Airlines, Vietnam Airlines, and IHG ANA Hotels Group Japan. The latter is a hotel chain in Japan owned and operated by InterContinental Hotels Group.
Founded
1952
HQ
Employees
46.9K
Website
Sectors
Financials (LTM)
EV
$8B
ANA Holdings Financials
ANA Holdings reported last 12-month revenue of $16B and EBITDA of $2B.
In the same LTM period, ANA Holdings generated $3B in gross profit, $2B in EBITDA, and $940M in net income.
Revenue (LTM)
ANA Holdings P&L
In the most recent fiscal year, ANA Holdings reported revenue of $16B and EBITDA of $2B.
ANA Holdings expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $16B | XXX | $16B | XXX | XXX | XXX |
| Gross Profit | $3B | XXX | $3B | XXX | XXX | XXX |
| Gross Margin | 18% | XXX | 17% | XXX | XXX | XXX |
| EBITDA | $2B | XXX | $2B | XXX | XXX | XXX |
| EBITDA Margin | 15% | XXX | 15% | XXX | XXX | XXX |
| EBIT Margin | 8% | XXX | 9% | XXX | XXX | XXX |
| Net Profit | $940M | XXX | $1B | XXX | XXX | XXX |
| Net Margin | 6% | XXX | 7% | XXX | XXX | XXX |
| Net Debt | — | — | $6B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
ANA Holdings Stock Performance
ANA Holdings has current market cap of $8B, and enterprise value of $8B.
Market Cap Evolution
ANA Holdings' stock price is $17.78.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $8B | $8B | 0.3% | XXX | XXX | XXX | $2.32 |
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Start Free TrialANA Holdings Valuation Multiples
ANA Holdings trades at 0.5x EV/Revenue multiple, and 3.3x EV/EBITDA.
EV / Revenue (LTM)
ANA Holdings Financial Valuation Multiples
As of April 20, 2026, ANA Holdings has market cap of $8B and EV of $8B.
Equity research analysts estimate ANA Holdings' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
ANA Holdings has a P/E ratio of 8.6x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $8B | XXX | $8B | XXX | XXX | XXX |
| EV (current) | $8B | XXX | $8B | XXX | XXX | XXX |
| EV/Revenue | 0.5x | XXX | 0.5x | XXX | XXX | XXX |
| EV/EBITDA | 3.3x | XXX | 3.3x | XXX | XXX | XXX |
| EV/EBIT | 5.9x | XXX | 5.8x | XXX | XXX | XXX |
| EV/Gross Profit | 2.7x | XXX | 3.0x | XXX | XXX | XXX |
| P/E | 8.6x | XXX | 7.7x | XXX | XXX | XXX |
| EV/FCF | 49.2x | XXX | 10.6x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified ANA Holdings Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
ANA Holdings Margins & Growth Rates
ANA Holdings' revenue in the last 12 month grew by 7%.
ANA Holdings' revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.0M for the same period.
ANA Holdings' rule of 40 is 21% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
ANA Holdings' rule of X is 34% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
ANA Holdings Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 7% | XXX | 2% | XXX | XXX | XXX |
| EBITDA Margin | 15% | XXX | 15% | XXX | XXX | XXX |
| EBITDA Growth | (7%) | XXX | (2%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 21% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 34% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.0M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 3% | XXX | 3% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 1% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 9% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
ANA Holdings Public Comps
See public comps and valuation multiples for other Airlines comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| ANA Holdings | XXX | XXX | XXX | XXX | XXX | XXX |
| American Airlines | XXX | XXX | XXX | XXX | XXX | XXX |
| Cathay Pacific Airways | XXX | XXX | XXX | XXX | XXX | XXX |
| Japan Airlines | XXX | XXX | XXX | XXX | XXX | XXX |
| Air Arabia | XXX | XXX | XXX | XXX | XXX | XXX |
| Spring Airlines | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
ANA Holdings M&A Activity
ANA Holdings acquired XXX companies to date.
Last acquisition by ANA Holdings was on XXXXXXXX, XXXXX. ANA Holdings acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by ANA Holdings
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialANA Holdings Investment Activity
ANA Holdings invested in XXX companies to date.
ANA Holdings made its latest investment on XXXXXXXX, XXXXX. ANA Holdings invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by ANA Holdings
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout ANA Holdings
| When was ANA Holdings founded? | ANA Holdings was founded in 1952. |
| Where is ANA Holdings headquartered? | ANA Holdings is headquartered in Japan. |
| How many employees does ANA Holdings have? | As of today, ANA Holdings has over 46K employees. |
| Who is the CEO of ANA Holdings? | ANA Holdings' CEO is Koji Shibata. |
| Is ANA Holdings publicly listed? | Yes, ANA Holdings is a public company listed on Tokyo Stock Exchange. |
| What is the stock symbol of ANA Holdings? | ANA Holdings trades under 9202 ticker. |
| When did ANA Holdings go public? | ANA Holdings went public in 1975. |
| Who are competitors of ANA Holdings? | ANA Holdings main competitors are American Airlines, Cathay Pacific Airways, Japan Airlines, Air Arabia. |
| What is the current market cap of ANA Holdings? | ANA Holdings' current market cap is $8B. |
| What is the current revenue of ANA Holdings? | ANA Holdings' last 12 months revenue is $16B. |
| What is the current revenue growth of ANA Holdings? | ANA Holdings revenue growth (NTM/LTM) is 7%. |
| What is the current EV/Revenue multiple of ANA Holdings? | Current revenue multiple of ANA Holdings is 0.5x. |
| Is ANA Holdings profitable? | Yes, ANA Holdings is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of ANA Holdings? | ANA Holdings' last 12 months EBITDA is $2B. |
| What is ANA Holdings' EBITDA margin? | ANA Holdings' last 12 months EBITDA margin is 15%. |
| What is the current EV/EBITDA multiple of ANA Holdings? | Current EBITDA multiple of ANA Holdings is 3.3x. |
| What is the current FCF of ANA Holdings? | ANA Holdings' last 12 months FCF is $158M. |
| What is ANA Holdings' FCF margin? | ANA Holdings' last 12 months FCF margin is 1%. |
| What is the current EV/FCF multiple of ANA Holdings? | Current FCF multiple of ANA Holdings is 49.2x. |
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