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Cathay Pacific Airways Limited (CPCAY)

Undervalued
IndustrialsAirlinesHong Kong

Fundamental

84

मूल्य

$14.74

मार्केट कैप

$87.20B

भाग 1 · कंपनी का मूल्य कितना है

अवलोकन

Cathay Pacific is Hong Kong's home airline, flying passengers and freight between Hong Kong and destinations across Asia, North America, Europe and Australia, using the city's international airport as its hub. The group also owns the low-cost carrier HK Express and a large cargo operation that flies dedicated freighter aircraft. Its business depends on Hong Kong remaining an attractive stopover point for travellers and shippers moving between Asia and the rest of the world.

यह पैसा कैसे कमाती है

The airline sells seats and cargo space on scheduled flights; revenue is booked when a passenger flies or a shipment moves, and results move with two separate drivers — how full the planes are (load factor) and how much each seat or kilogram of cargo fetches (yield). Fuel is the single largest cost, so profitability is squeezed whenever oil prices rise faster than fares and freight rates can be adjusted.

सेगमेंट के अनुसार राजस्व

Passenger and Other79.2%

Passenger flights on Cathay Pacific and HK Express, plus catering, engineering and other airline-related services; not broken out separately in reported results.

Cargo20.8%

Dedicated freighter and belly-hold cargo capacity, which carried 1.67 million tonnes in 2025 for HK$24.3 billion in revenue.

प्रतिस्पर्धी बढ़त (Moat)

स्केल · संकीर्ण

Cathay's position as the dominant carrier at Hong Kong International Airport, with decades of accumulated route rights, slots and a large widebody fleet, gives it a real hub advantage that a new entrant could not quickly replicate. The advantage is narrow: airlines compete hard on price for the same passengers, and Cathay's own results show yields falling under regional competition even as the hub advantage holds.

मांग को क्या चलाता है

चक्रीय

Air travel and air freight demand rise and fall with global trade and travel activity, and fares fall quickly whenever regional airlines add capacity, as happened across Asia in 2025 as carriers restored seats after the pandemic. Jet fuel, priced off volatile crude oil, is a further swing factor the airline can only partly hedge.

प्रमुख जोखिम

  • Geopolitical route disruption — A volatile geopolitical environment can force sudden route cancellations and reroutings, as happened when the group cancelled all flights to Dubai and Riyadh in response to Middle East tensions, cutting capacity with little notice.
  • Fuel price volatility — Jet fuel is one of the largest items on the airline's cost base; management has hedged only around 30% of anticipated 2026 fuel needs at roughly $70 a barrel for Brent crude, leaving most of the exposure unhedged.
  • Regional competition on fares — Asian airlines restoring post-pandemic capacity pushed fares down across the region in 2025, cutting Cathay Pacific's full-service yield by 12% and low-cost subsidiary HK Express's yield by 23% year on year.

खरीदने के पक्ष में तर्क

Buyers argue that Cathay's Hong Kong hub advantage remains intact, that group profit rose to HK$10.8 billion in 2025 on record passenger volumes, and that continued long-haul network expansion to North America and Europe positions the airline to keep capturing recovering travel demand.

बेचने के पक्ष में तर्क

Sellers worry that regional overcapacity is already pushing fares and yields down, that geopolitical shocks can force route cancellations with almost no warning, and that with most of its fuel exposure unhedged a sustained rise in oil prices would hit margins hard just as competitive pressure caps how much fares can rise.

Written by the editors, published on 18 अगस्त 2026

Direct competitors

Who this company fights with for the same customers

Generated on 18 सितंबर 2026 with claude-haiku-4-5 — shared with all users

Singapore Airlines LimitedC6L

The other premium Asian hub carrier, competing directly for long-haul premium and connecting traffic between Southeast Asia, Europe, Australia and North America.

EmiratesNot tracked

Dubai's hub carrier competes for the same Asia-to-Europe, Africa and Middle East connecting passengers that Cathay routes through Hong Kong.

China Southern Airlines Company Limited (中国南方航空)Not tracked

The largest mainland Chinese carrier competes on price and capacity for Chinese outbound travellers on regional and long-haul routes Cathay feeds through Hong Kong.

Korean Air Lines Co., Ltd. (대한항공)003490

Seoul Incheon is a rival Northeast Asian transfer hub disputing the same transpacific and Asia-Europe connecting flows.

Qatar AirwaysNot tracked

State-owned Gulf carrier that draws Asian passengers onto its Doha hub for Europe, Africa and the Americas, the same one-stop itineraries Cathay sells.

Hong Kong Airlines Limited (香港航空)Not tracked

Privately held rival operating from the same home airport, competing head-on with Cathay on Asia-Pacific regional routes where yields have been falling.

बैलेंस शीट और तरलता

राजस्व

$126.50B

अंतिम प्रकाशित तिमाही तक के पिछले 12 महीने — प्रति शेयर मेट्रिक्स से अनुमानित

शुद्ध आय

$12.54B

अंतिम प्रकाशित तिमाही तक के पिछले 12 महीने — प्रति शेयर मेट्रिक्स से अनुमानित

Free Cash Flow

$15.46B

कुल इक्विटी

$58.02B

कुल देनदारियाँ

$63.49B

Current Ratio

0.44

Interest Coverage

-

Debt/EBITDA

2.79

Earnings Per Share

राजस्व और शुद्ध आय

Free Cash Flow

आय विवरण

ऐतिहासिक विवरण

समय के साथ मार्जिन

समय के साथ ऋण

ऋण कितना भारी है

वृद्धि तालिका

वृद्धि — राजस्व

Fair Value अनुमान

चक्रीयकम मूल्यांकित

Fair Value

$19.76

वर्तमान मूल्य

$14.74

Margin of Safety

+25.4%

Fair Value सीमा

$15.37 - $24.16

इस्तेमाल किए गए valuation methods के बीच का फैलाव, कोई सांख्यिकीय रूप से calibrated confidence interval नहीं।

अनुमान विधियाँ

विश्लेषकों का लक्ष्य मूल्य:$16.09
डिस्काउंटेड कैश फ्लो (DCF):इस प्रकार की कंपनी पर लागू नहीं
आय गुणक (P/E):$16.92
Graham वृद्धि फॉर्मूला:इस प्रकार की कंपनी पर लागू नहीं
अर्निंग पावर वैल्यू (EPV):$25.31
उचित P/B:इस प्रकार की कंपनी पर लागू नहीं
लाभांश डिस्काउंट (Gordon):इस प्रकार की कंपनी पर लागू नहीं
P/FFO, परिचालन से प्राप्त निधि:इस प्रकार की कंपनी पर लागू नहीं
मध्य-चक्र आय:इसकी गणना के लिए पर्याप्त डेटा नहीं
राजस्व गुणक:इस प्रकार की कंपनी पर लागू नहीं
विश्लेषक सहमति:खरीदें (12B / 4H / 0S)
अंतिम Earnings सरप्राइज़:-22.94%

मूल्यांकन मेट्रिक्स

P/E Ratio

7.15

ROE

24.5%

P/B Ratio

1.54

P/FCF

5.64

Gross Margin

65.2%

ROIC

8.2%

लाभप्रदता Radar

मूल्य सृजन (प्रतिस्पर्धी बढ़त)

ROIC

8.2%

WACC

4.6%

ROIC − WACC

+3.6 pp

ROIC पूंजी की लागत से अधिक है — कंपनी शेयरधारकों के लिए मूल्य सृजित कर रही है।

Fundamental विश्लेषण मानदंड

पास (16)

  • ROIC 8.2%
  • Gross Margin 65.2%
  • P/FCF 5.64
  • P/B Ratio 1.54
  • Debt/Equity ratio
  • Operating Margin 12.3%
  • Positive Free Cash Flow
  • Debt/EBITDA
  • Price below Graham Number
  • DCF valuation (Undervalued)
  • ROE 22.7%
  • Revenue Growth 5Y 20.0%
  • Analyst Consensus 75% Buy
  • Earnings Surprise avg 50.5%
  • Earnings Quality (OCF/NI) 2.58
  • Net Margin Trend 9.3% vs 9.2%

फेल (4)

  • Price CAGR 4.57%
  • CapEx intensity
  • Current Ratio
  • Piotroski F-Score 2/9

अनुपलब्ध (7)

  • EPS data insufficient
  • Dividend Payout NaN%
  • Interest Coverage
  • Return on Tangible Assets
  • Low reliance on intangibles
  • PEG Ratio (need PE > 0 and growth > 0)
  • Share Dilution (missing shares data)

Piotroski F-Score

2/9

गंभीर वित्तीय चिंताएं

score
criteria

Earnings गुणवत्ता

2.58

उच्च गुणवत्ता: earnings नकदी द्वारा समर्थित

शेयर Dilution

-

शेयर वापस खरीद रही है। शेयरधारक अनुकूल

संस्थागत होल्डिंग

इस कंपनी के लिए कोई संस्थागत घोषणा उपलब्ध नहीं है।

प्रशासन

कार्यकारी टीम

नामपदआयु
Mr. Guy Martin Coutts Bradley J.P.Executive Chairman of the Board59
Mr. Siu Por LamCEO & Executive Director52
Ms. Rebecca Jane SharpeCFO & Executive Director54
Mr. James John McGowanChief Operations & Service Delivery Officer and Executive Director52
Ms. Hoi Zee LauChief Customer & Commercial Officer and Executive Director54
Mr. Keith FungGeneral Manager of Corporate Finance-
Ms. Joanna LaiGroup General Counsel & Company Secretary40
Ms. Patricia HwangDirector of People-
Christopher J. BuckleyHead of Financial Service-
Mr. Jonathan NgRegional Head of Customer Travel & Lifestyle - Southeast Asia-

Audit जोखिम

3

बोर्ड जोखिम

4

मुआवजा जोखिम

5

शेयरधारक अधिकार जोखिम

8

भाग 2 · कीमत और खरीदने का समय

यह हिस्सा यह नहीं बताता कि कंपनी अच्छी है या नहीं: यह तय करने में मदद करता है कि उसे कब खरीदें, जब फंडामेंटल आपको आश्वस्त कर चुके हों। इसमें: तकनीकी विश्लेषण, संभावना, ऐतिहासिक गिरावट, गामा एक्सपोज़र।

Latest News

Recent headlines for CPCAY, sourced from Markets Gazette.

No recent news for CPCAY.
Disclaimer

यह प्लेटफ़ॉर्म केवल शैक्षिक उद्देश्यों के लिए है। यह कोई वित्तीय, निवेश, या ट्रेडिंग सलाह नहीं देता। सभी स्कोर, मूल्यांकन, और संकेत सार्वजनिक रूप से उपलब्ध डेटा के स्वचालित विश्लेषण पर आधारित हैं जो अधूरे या गलत हो सकते हैं। निवेश निर्णय लेने से पहले हमेशा अपना शोध करें और एक योग्य वित्तीय सलाहकार से परामर्श लें।

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