Kenya Airways PLC

Kenya Airways has a negative equity position of -132.03 billion KES, with total liabilities of 315.26 billion KES and total assets of 183.23 billion KES, resulting in a debt-to-equity ratio of -1.52. The company's liquidity is constrained, with a current ratio of 0.31 and only 1.97 billion KES in cash and equivalents.

Profitability metrics show a return on equity of 12.98%, but the return on assets is negative at -9.35%, indicating that the company is not generating sufficient returns to cover its asset base. Operating income is negative at -5.61 billion KES, and net income is -17.13 billion KES, reflecting significant financial distress.

The company's revenue is concentrated in a single business segment, as disclosed in its financial statements, with no geographic breakdown provided. This lack of diversification increases exposure to regional economic and regulatory risks.

Kenya Airways reported revenue of 161.47 billion KES in the latest period, but the company's growth trajectory is unclear due to the absence of comparative data for prior periods. Analysts recorded a last actual revenue of 114.19 billion KES, suggesting a potential increase, though this is not confirmed by the company's full financial history.

The company faces medium liquidity risk, with negative net cash after subtracting total debt. Dilution risk is assessed as low, with no significant dilution sources identified in the latest filings. However, the company's negative equity position and high debt levels suggest potential for future dilution if capital raising is required.

Recent financial filings indicate a continued decline in profitability, with a net loss of 17.13 billion KES and an operating loss of 5.61 billion KES. The company's free cash flow is negative at -4.82 billion KES, and capital expenditures of -6.10 billion KES further strain liquidity.