Beijing Capital International Airport Co Ltd

Beijing Capital International Airport Co Ltd maintains a capital structure characterized by significant leverage, with long-term debt of CNY 11.49 billion against total equity of CNY 12.86 billion, resulting in a debt-to-equity ratio of 0.89. The company holds CNY 1.85 billion in cash and equivalents, but its current ratio stands at a constrained 0.22, indicating tight short-term liquidity. Despite an operating loss of CNY 235.7 million and a net loss of CNY 630.0 million, the firm generated positive operating cash flow of CNY 1.61 billion and free cash flow of CNY 369.9 million, supported by capital expenditures of CNY 554.3 million. The market capitalization is CNY 7.01 billion, trading at a price-to-book ratio of 0.54, suggesting the market values the equity below its book value.

Profitability metrics reflect a challenging operating environment, with a return on equity of -4.9% and a return on assets of -2.1%. The negative earnings per share result in an undefined or negative EV/EBITDA multiple of -70.60, while the EV/revenue ratio stands at 2.95. Without cohort median data for direct comparison, the negative returns indicate that the company is currently destroying shareholder value on an accounting basis, although the positive free cash flow suggests underlying operational cash generation remains intact despite the net loss.

Revenue concentration and geographic exposure details are absent from the provided data. The total revenue for the latest normalized period is CNY 5.63 billion. In the absence of segment or geographic breakdowns, the analysis cannot assess concentration risk or regional dependency, relying solely on the aggregate revenue figure.

Growth trajectory analysis is limited by the absence of historical period data. The current revenue figure of CNY 5.63 billion serves as the baseline, but without five-year annual or eight-quarter quarterly trends, it is not possible to determine the direction or velocity of revenue growth or decline. The current net loss of CNY 630.0 million represents a significant drag on equity, but the trend of this loss relative to prior periods cannot be established from the input.

Risk assessment indicates medium liquidity risk and low dilution risk. A key flag notes that net cash is negative after subtracting total debt, highlighting the reliance on debt financing. The low dilution risk is consistent with the identical basic and diluted share counts of 4.58 billion shares, suggesting no significant options or convertible securities are currently impacting the share count. The medium liquidity risk aligns with the low current ratio of 0.22, pointing to potential short-term funding pressures.

Recent events and market sentiment are reflected in analyst estimates, with a mean price target of CNY 2.51 and a median target of CNY 2.48, implying upside from the current market price of CNY 1.53. The mean recommendation is 2.43, leaning towards a hold or slight buy, with two strong buys, one buy, and three holds. No specific filing, news, or transcript observations are provided in the input data to detail recent corporate actions or strategic shifts.

Analysts project 44.4% upside to a mean price target of 2.51, reflecting strong buy consensus among seven analysts.

Free cash flow turned positive in FY2026, reaching 370 million CNY, marking a significant improvement from prior deficits.

Revenue grew at a 13.9% CAGR over four years, demonstrating consistent top-line expansion despite recent volatility.

Net income improved by 54.7% year-over-year in FY2026, indicating a strong trajectory toward profitability recovery.

Operating income narrowed its loss significantly in FY2026, suggesting improving operational efficiency and cost management.

The company faces high credit risk, posing significant potential challenges to its financial stability and debt servicing.

Long-term debt increased to 11.7 billion CNY in FY2025, reflecting a growing leverage burden on the balance sheet.

Cash conversion ratio of -2.55 is in the bottom quartile, indicating poor ability to convert earnings into cash.

Revenue ¥5.63B, +2,5% YoY; Operating income +32,1% YoY.

• ▍Revenue ¥5.63B, +2,5% YoY
• ▍Operating income +32,1% YoY
• ▍Net income +54,7% YoY
• ▍Free cash flow +193,7% YoY
• ▍Net margin -11.2%

Revenue ¥5.49B, +20,5% YoY; Operating income +75,4% YoY.

• ▍Revenue ¥5.49B, +20,5% YoY
• ▍Operating income +75,4% YoY
• ▍Net income +18,1% YoY
• ▍Free cash flow +25,8% YoY
• ▍Net margin -25.3%

Revenue ¥4.56B, +104,3% YoY; Operating income +61,4% YoY.

• ▍Revenue ¥4.56B, +104,3% YoY
• ▍Operating income +61,4% YoY
• ▍Net income +51,9% YoY
• ▍Free cash flow +79,4% YoY
• ▍Net margin -37.2%

Revenue ¥2.23B, −33,3% YoY; Operating income −36,5% YoY.

• ▍Revenue ¥2.23B, −33,3% YoY
• ▍Operating income −36,5% YoY
• ▍Net income −66,6% YoY
• ▍Free cash flow −102,4% YoY
• ▍Net margin -158.1%

Revenue ¥3.34B; Operating income -¥2.68B.

• ▍Revenue ¥3.34B
• ▍Operating income -¥2.68B
• ▍Net margin -63.3%