Hainan Airlines - Public Comps and Valuation Multiples

Hainan Airlines Overview

About Hainan Airlines

Hainan Airlines Holding Co Ltd is an airline company. The company is engaged in operating approved domestic air passenger and cargo transportation business, as well as business charter flight business to neighboring countries and regions. It is also engaged in the production of in-flight supplies, aviation equipment, aviation ground equipment and spare parts, terminal services and operations, and provides insurance agency services.

Founded

1989

HQ

Employees

34.9K+

Website

hnair.com

Sectors

Airlines

Financials

LTM Revenue $10.0B

Last FY EBITDA $1.9B

EV

$23.4B

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Hainan Airlines Financials

As of December 2025, Hainan Airlines reported last 12-month revenue of $10.0B.

In the same period, Hainan Airlines generated $1.1B in LTM gross profit and $295M in net income.

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Hainan Airlines P&L

In the most recent fiscal year, Hainan Airlines reported revenue of $9.4B and EBITDA of $1.9B.

Hainan Airlines expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue	$10.0B	XXX	$9.4B	XXX	XXX	XXX
Gross Profit	$1.1B	XXX	$696M	XXX	XXX	XXX
Gross Margin	11%	XXX	7%	XXX	XXX	XXX
EBITDA	n/a	XXX	$1.9B	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	20%	XXX	XXX	XXX
EBIT	$341M	XXX	$481M	XXX	XXX	XXX
EBIT Margin	3%	XXX	5%	XXX	XXX	XXX
Net Profit	$295M	XXX	-$132M	XXX	XXX	XXX
Net Margin	3%	XXX	-1%	XXX	XXX	XXX
Net Debt	XXX	XXX	$5.5B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Hainan Airlines including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $10.0B. In the most recent fiscal year, Hainan Airlines achieved $9.4B in revenue and $1.9B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2026)	Next Fiscal Year (2027)	Two Years Forward (2028)
Total Revenue	$10.0B	Analyst estimates available to subscribers	$9.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$1.1B	Analyst estimates available to subscribers	$696M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	10.9% gross margin	Analyst estimates available to subscribers	7.4% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	n/a	Analyst estimates available to subscribers	$1.9B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	n/a	Analyst estimates available to subscribers	19.9% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$341M	Analyst estimates available to subscribers	$481M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	3.4% EBIT margin	Analyst estimates available to subscribers	5.1% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$295M	Analyst estimates available to subscribers	-$132M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	3.0% net profit margin	Analyst estimates available to subscribers	-1.4% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$5.5B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Hainan Airlines

This financial data table provides comprehensive performance metrics for Hainan Airlines, a company based in China. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Hainan Airlines generated $10.0B in revenue over the last twelve months.
Gross profit for the last twelve months was $1.1B.
Net income over the last twelve months reached $295M.

Fiscal Year Performance

In the most recent fiscal year, Hainan Airlines reported $9.4B in total revenue.
Fiscal year EBITDA was $1.9B.
The company maintained a gross profit margin of 7.4% in the most recent fiscal year.
EBITDA margin for the fiscal year was 19.9%.
Net profit margin reached -1.4% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Hainan Airlines. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Hainan Airlines Stock Performance

Hainan Airlines has current market cap of CNY 73.2B (or $10.5B), and EV of CNY 163B (or $23.4B).

Market Cap Evolution

Hainan Airlines Stock Data

As of January 19, 2026, Hainan Airlines's stock price is CNY 2 (or $0).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$23.4B	$10.5B	XXX	XXX	XXX	XXX	$0.01

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Hainan Airlines Valuation Multiples

Hainan Airlines's trades at 2.3x EV/Revenue multiple, and 12.6x EV/EBITDA.

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Hainan Airlines Financial Valuation Multiples

As of January 19, 2026, Hainan Airlines has market cap of $10.5B and EV of $23.4B.

Equity research analysts estimate Hainan Airlines's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Hainan Airlines has a P/E ratio of 35.6x.

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Market cap (current)	$10.5B	XXX	$10.5B	XXX	XXX	XXX
EV (current)	$23.4B	XXX	$23.4B	XXX	XXX	XXX
EV/Revenue	2.3x	XXX	2.3x	XXX	XXX	XXX
EV/EBITDA	n/a	XXX	12.6x	XXX	XXX	XXX
EV/EBIT	68.7x	XXX	68.7x	XXX	XXX	XXX
EV/Gross Profit	21.6x	XXX	n/a	XXX	XXX	XXX
P/E	35.6x	XXX	35.6x	XXX	XXX	XXX
EV/FCF	n/a	XXX	14.9x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Hainan Airlines Margins & Growth Rates

Hainan Airlines's last 12 month revenue growth is 11%

Hainan Airlines's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $6K for the same period.

Hainan Airlines's rule of 40 is 33% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Hainan Airlines's rule of X is unknown (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Hainan Airlines Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue Growth	11%	XXX	10%	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA Growth	n/a	XXX	n/a	XXX	XXX	XXX
Rule of 40	33%	XXX	n/a	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	n/a	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$6K	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	2%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	0%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	2%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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