Guangzhou Baiyun International Airport Co Ltd

Guangzhou Baiyun International Airport Co Ltd maintains a conservative capital structure with a debt-to-equity ratio of 0.10 and a current ratio of 1.47. The balance sheet shows total assets of 29.68 billion CNY against total liabilities of 8.65 billion CNY, resulting in total equity of 21.02 billion CNY. Long-term debt stands at 2.01 billion CNY. Despite the low leverage, the risk assessment flags medium liquidity risk and notes that net cash is negative after subtracting total debt. The company generates strong operating cash flow of 3.07 billion CNY and free cash flow of 2.00 billion CNY, supporting its ability to service debt and fund operations.

Profitability metrics indicate modest returns, with a return on equity (ROE) of 6.37% and a return on assets (ROA) of 4.52%. The company reports a net income of 1.45 billion CNY on revenue of 7.96 billion CNY, yielding a net margin of approximately 18.3%. Operating income is 1.75 billion CNY, reflecting an operating margin of roughly 22.0%. Gross profit is 2.01 billion CNY. Without cohort median data for direct comparison, these returns are evaluated against the general profile of capital-intensive infrastructure assets, where ROE levels are typically moderate due to high asset bases.

Segment and geographic revenue breakdowns are not provided in the available data. The company’s primary activity is centered on Guangzhou Baiyun International Airport, implying high geographic concentration in the Guangdong region. Revenue generation is likely driven by passenger traffic, cargo handling, and ancillary services such as retail and parking, though specific segment contributions are not disclosed.

Growth trajectory analysis is limited by the absence of historical period data. The latest normalized period shows revenue of 7.96 billion CNY. Without prior year or quarterly comparisons, year-over-year growth rates cannot be calculated. The capital expenditure of -737.42 million CNY suggests ongoing investment in infrastructure, which is typical for airport operators maintaining and expanding capacity.

Risk factors include medium liquidity risk and low dilution risk. The key flag indicates negative net cash after debt subtraction, which may constrain financial flexibility despite strong operating cash flows. The low dilution risk is supported by the fact that basic and diluted shares outstanding are identical at 2.58 billion shares, indicating no significant convertible securities or options impacting share count.

Recent events include analyst estimates with a mean price target of 8.44 CNY and a median of 8.90 CNY, compared to the current market price of 7.60 CNY. The mean recommendation is 2.86, with one strong buy, one buy, and three hold ratings. The high price target is 10.40 CNY and the low is 6.60 CNY. No specific filing, news, or transcript observations are provided in the input data.

Net income surged 57.1% year-over-year to CNY 1.45 billion in FY2026, demonstrating strong profitability recovery.

Revenue grew at an 11.3% CAGR over four years, reaching CNY 7.96 billion in FY2026.

Debt-to-equity ratio of 0.1 is well below the cohort median of 0.4, reflecting a conservative capital structure.

Cash conversion ratio of 2.29 ranks in the top quartile, highlighting robust cash generation capabilities.

Free cash flow declined 5.1% year-over-year to CNY 2.0 billion in FY2026, signaling potential liquidity constraints.

Analysts assign a 'hold' rating with only 1.8% upside, indicating limited near-term price appreciation potential.

The company faces medium liquidity risk, which could impact its ability to meet short-term obligations.

Capex to revenue ratio of -9.1% is in the bottom quartile, potentially indicating underinvestment in future growth.

Revenue ¥1.98B, +8,5% YoY; Operating income −39,6% YoY.

• ▍Revenue ¥1.98B, +8,5% YoY
• ▍Operating income −39,6% YoY
• ▍Net income −43,3% YoY
• ▍Net margin 8.5%

Revenue ¥2.26B, +6,3% YoY; Operating income +35,3% YoY.

• ▍Revenue ¥2.26B, +6,3% YoY
• ▍Operating income +35,3% YoY
• ▍Net income +44,5% YoY
• ▍Net margin 16.5%

Revenue ¥1.97B, +7,1% YoY; Operating income +34,1% YoY.

• ▍Revenue ¥1.97B, +7,1% YoY
• ▍Operating income +34,1% YoY
• ▍Net income +50,2% YoY
• ▍Net margin 17.5%

Revenue ¥1.90B, +6,0% YoY; Operating income +17,1% YoY.

• ▍Revenue ¥1.90B, +6,0% YoY
• ▍Operating income +17,1% YoY
• ▍Net income +81,5% YoY
• ▍Net margin 23.8%

Revenue ¥1.82B; Operating income ¥389.0M.

• ▍Revenue ¥1.82B
• ▍Operating income ¥389.0M
• ▍Net margin 16.2%

Revenue ¥2.12B; Operating income ¥382.4M.

• ▍Revenue ¥2.12B
• ▍Operating income ¥382.4M
• ▍Net margin 12.1%

Revenue ¥1.84B; Operating income ¥317.6M.

• ▍Revenue ¥1.84B
• ▍Operating income ¥317.6M
• ▍Net margin 12.5%

Revenue ¥1.80B; Operating income ¥368.6M.

• ▍Revenue ¥1.80B
• ▍Operating income ¥368.6M
• ▍Net margin 13.9%

Revenue ¥7.96B, +7,2% YoY; Operating income +30,9% YoY.

• ▍Revenue ¥7.96B, +7,2% YoY
• ▍Operating income +30,9% YoY
• ▍Net income +57,1% YoY
• ▍Free cash flow −5,1% YoY
• ▍Net margin 18.3%

Revenue ¥7.42B, +15,4% YoY; Operating income +99,2% YoY.

• ▍Revenue ¥7.42B, +15,4% YoY
• ▍Operating income +99,2% YoY
• ▍Net income +109,5% YoY
• ▍Free cash flow +32,5% YoY
• ▍Net margin 12.5%

Revenue ¥6.43B, +62,0% YoY; Operating income +146,3% YoY.

• ▍Revenue ¥6.43B, +62,0% YoY
• ▍Operating income +146,3% YoY
• ▍Net income +141,2% YoY
• ▍Free cash flow +1 361,1% YoY
• ▍Net margin 6.9%

Revenue ¥3.97B, −23,3% YoY; Operating income −167,6% YoY.

• ▍Revenue ¥3.97B, −23,3% YoY
• ▍Operating income −167,6% YoY
• ▍Net income −163,9% YoY
• ▍Free cash flow −164,7% YoY
• ▍Net margin -27.0%