Air Asia Co. Ltd. AI Stock Analysis
Air Asia Co. Ltd. (2630) AI Stock Analysis
Air Asia Co. Ltd.
(TWSE:2630)
Air Asia Co. Ltd. scores moderately. Fundamentals are the main positive: a much stronger balance sheet with debt-to-equity down to 0.38x, five consecutive years of margin expansion, and a return to positive free cash flow. However, these strengths are offset by a pronounced technical downtrend, with the share price trading far below all major moving averages and negative MACD momentum. Valuation adds further caution, as a 56.7x P/E sits uncomfortably against thin net margins and a 5.9% ROE, only partly compensated by a 2.81% dividend yield. Continued margin gains and consistent cash conversion, alongside stabilisation in the price trend, would be needed to justify a higher score.
Air Asia Co. Ltd. (2630) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 7.10B
- Dividend Yield
- 2.68%
- Average Volume (3M)
- 1.78M
- Price to Earnings (P/E)
- 148.5
- Beta (1Y)
- 0.97
- Revenue Growth
- -17.77%
- EPS Growth
- -77.30%
- Country
- TW
- Employees
- 1,130
- Sector
- General
- Sector Strength
- 55
- Industry
- Aerospace & Defense
Air Asia Co. Ltd. Business Overview & Revenue Model
Company Description
Air Asia Co., Ltd., headquartered in Tainan City, Taiwan, is a leading provider of aircraft maintenance services, operating both domestically and internationally. The company's comprehensive offerings span both civilian and military aviation, encompa...
Air Asia Co. Ltd. Financial Statement Overview
Summary
A solid turnaround profile. The income statement (71) shows five straight years of revenue growth to NT$5.45bn with gross margin doubling to 10.4% and net income rising to NT$209.7mn, though absolute margins remain thin. The balance sheet (73) is the standout: equity more than doubled to NT$3.55bn, debt cut to NT$1.35bn and debt-to-equity down to a conservative 0.38x, offset by a modest 5.9% ROE. Cash flow (60) is the weak link, with operating cash flow swinging to NT$288mn and free cash flow of NT$227mn in the latest year, but negative free cash flow in three of the past six years leaves conversion unproven.
Income Statement
71PositiveBalance Sheet
73PositiveCash Flow
60Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.91B | 5.45B | 5.20B | 4.86B | 4.07B | 3.88B |
| Gross Profit | 442.64M | 564.52M | 462.36M | 337.43M | 251.07M | 228.07M |
| EBITDA | 298.43M | 414.20M | 332.56M | 209.46M | 142.74M | 186.95M |
| Net Income | 119.57M | 209.72M | 140.61M | 57.12M | 13.49M | 76.98M |
Balance Sheet | ||||||
| Total Assets | 5.75B | 5.72B | 5.77B | 5.48B | 4.91B | 4.74B |
| Cash, Cash Equivalents and Short-Term Investments | 178.82M | 226.73M | 155.61M | 254.26M | 252.96M | 319.15M |
| Total Debt | 1.76B | 1.35B | 1.38B | 1.36B | 2.30B | 2.21B |
| Total Liabilities | 2.37B | 2.17B | 2.30B | 2.04B | 2.99B | 2.80B |
| Stockholders Equity | 3.38B | 3.55B | 3.47B | 3.43B | 1.92B | 1.94B |
Cash Flow | ||||||
| Free Cash Flow | 446.07M | 226.75M | 21.75M | -271.23M | -85.81M | -188.98M |
| Operating Cash Flow | 557.24M | 288.06M | 91.66M | -208.71M | 6.48M | -122.25M |
| Investing Cash Flow | -95.40M | -53.05M | -92.26M | -255.71M | -113.55M | 4.77M |
| Financing Cash Flow | -433.35M | -163.72M | -97.15M | 467.85M | 39.55M | 278.62M |
Air Asia Co. Ltd. Peers Comparison
Overall Rating
TW:321376Outperform
TW:222168.5Neutral
TW:893858Neutral- TW:263056Neutral
TW:665440Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:3213 | 76Outperform | TWD 6.87B | 11.05 | ― | 5.93% | 12.98% | 39.71% |
| TW:2221 | 69Neutral | TWD 6.43B | 56.44 | ― | 0.90% | 18.85% | 87.57% |
| TW:8938 | 58Neutral | TWD 7.36B | 11.07 | ― | 8.70% | -0.03% | -33.33% |
| TW:2630 | 56Neutral | TWD 7.06B | 148.52 | ― | 2.68% | -17.77% | -77.30% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:6654 | 40Underperform | TWD 7.13B | 78.33 | ― | ― | 115.72% | ― |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:2630 | Air Asia Co. Ltd. | 33.55 | -14.54 | -30.23% | |
| TW:2221 | Tachia Yung Ho Machine Industry Co., Ltd. | 167.00 | 139.45 | 506.28% | |
| TW:2644 | Jong Shyn Shipbuilding Co., Ltd. | 72.60 | -16.79 | -18.78% | |
| TW:3213 | Mildef Crete Inc. | 118.00 | 20.94 | 21.57% | |
| TW:6654 | Tian Zheng International Precision Machinery Co., Ltd. | 178.00 | 93.00 | 109.41% | |
| TW:8938 | Advanced International Multitech Co. Ltd. | 46.00 | -15.67 | -25.42% |
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Nov 09, 2026