ADH2 Relative Valuation - Air Canada

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Price: 10.97 EUR -1.61% Market Closed

Market Cap: €3.9B

A	Air Canada F:ADH2	CA

Multiples-Based Value

The Multiples-Based Value of one ADH2 stock under the Base Case scenario is 30.88 EUR. Compared to the current market price of 10.97 EUR, Air Canada is Undervalued by 64%.

Multiples-Based Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

What is Relative Valuation?

How is Multiples-Based Value calculated?

ADH2 Multiples-Based Value

Base Case

Undervaluation 64%

Multiples-Based Value

Price €10.97

Worst Case

Base Case

Best Case

Valuation Multiples

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Multiples Across Competitors

All Multiples

P/S

P/E

EV/EBITDA

EV/EBIT

Forward Multiples

			Market Cap	P/S	P/E	EV/EBITDA	EV/EBIT
CA		Air Canada F:ADH2	5.2B EUR	0.2	8.3	2.7	7.6
US		Delta Air Lines Inc NYSE:DAL	43.4B USD	0.7	8.7	6.2	8.9
US		United Airlines Holdings Inc NASDAQ:UAL	29.8B USD	0.5	8.9	7.7	7.7
CH		Kinarus Therapeutics Holding AG SIX:KNRS	19.5B CHF	0	-1 404.3	-1 404.9	-1 404.9
UK		International Consolidated Airlines Group SA LSE:IAG	16.3B GBP	0.6	5.7	2.8	4.3
IE	R	Ryanair Holdings PLC LSE:RYA	15.4B EUR	1.1	8	4.5	6.8
US		Southwest Airlines Co NYSE:LUV	19.4B USD	0.7	43.9	10.4	48.4
CN		Air China Ltd SSE:601111	117.4B CNY	0.7	-66.3	-643.8	-643.8
IN		Interglobe Aviation Ltd NSE:INDIGO	1.5T INR	1.9	50.4	8.3	15.9
SG		Singapore Airlines Ltd SGX:C6L	20.6B SGD	1.1	9.2	5.4	13.2
CN		China Southern Airlines Co Ltd SSE:600029	102.4B CNY	0.6	-75.6	33.9	33.9

				Revenue Growth	P/S to Growth
CA		Air Canada F:ADH2	Average P/S: 0.8 0.2	8%	0
US		Delta Air Lines Inc NYSE:DAL	0.7	3%	0.2
US		United Airlines Holdings Inc NASDAQ:UAL	0.5	7%	0.1
CH		Kinarus Therapeutics Holding AG SIX:KNRS	Not Available	N/A	N/A
UK		International Consolidated Airlines Group SA LSE:IAG	0.6	5%	0.1
IE	R	Ryanair Holdings PLC LSE:RYA	1.1	9%	0.1
US		Southwest Airlines Co NYSE:LUV	0.7	8%	0.1
CN		Air China Ltd SSE:601111	0.7	N/A	N/A
IN		Interglobe Aviation Ltd NSE:INDIGO	1.9	12%	0.2
SG		Singapore Airlines Ltd SGX:C6L	1.1	3%	0.4
CN		China Southern Airlines Co Ltd SSE:600029	0.6	5%	0.1

				Earnings Growth	PEG
CA		Air Canada F:ADH2	Average P/E: 17.9 8.3	15%	0.6
US		Delta Air Lines Inc NYSE:DAL	8.7	6%	1.4
US		United Airlines Holdings Inc NASDAQ:UAL	8.9	18%	0.5
CH		Kinarus Therapeutics Holding AG SIX:KNRS	Negative Multiple: -1 404.3	N/A	N/A
UK		International Consolidated Airlines Group SA LSE:IAG	5.7	6%	0.9
IE	R	Ryanair Holdings PLC LSE:RYA	8	14%	0.6
US		Southwest Airlines Co NYSE:LUV	43.9	85%	0.5
CN		Air China Ltd SSE:601111	Negative Multiple: -66.3	N/A	N/A
IN		Interglobe Aviation Ltd NSE:INDIGO	50.4	8%	6.3
SG		Singapore Airlines Ltd SGX:C6L	9.2	-23%	N/A
CN		China Southern Airlines Co Ltd SSE:600029	Negative Multiple: -75.6	N/A	N/A

				EBITDA Growth	EV/EBITDA to Growth
CA		Air Canada F:ADH2	Average EV/EBITDA: 9.1 2.7	13%	0.2
US		Delta Air Lines Inc NYSE:DAL	6.2	11%	0.6
US		United Airlines Holdings Inc NASDAQ:UAL	7.7	31%	0.2
CH		Kinarus Therapeutics Holding AG SIX:KNRS	Negative Multiple: -1 404.9	N/A	N/A
UK		International Consolidated Airlines Group SA LSE:IAG	2.8	5%	0.6
IE	R	Ryanair Holdings PLC LSE:RYA	4.5	10%	0.4
US		Southwest Airlines Co NYSE:LUV	10.4	39%	0.3
CN		Air China Ltd SSE:601111	Negative Multiple: -643.8	N/A	N/A
IN		Interglobe Aviation Ltd NSE:INDIGO	8.3	12%	0.7
SG		Singapore Airlines Ltd SGX:C6L	5.4	3%	1.8
CN		China Southern Airlines Co Ltd SSE:600029	33.9	103%	0.3

				EBIT Growth	EV/EBIT to Growth
CA		Air Canada F:ADH2	Average EV/EBIT: 16.3 7.6	13%	0.6
US		Delta Air Lines Inc NYSE:DAL	8.9	12%	0.7
US		United Airlines Holdings Inc NASDAQ:UAL	7.7	14%	0.5
CH		Kinarus Therapeutics Holding AG SIX:KNRS	Negative Multiple: -1 404.9	N/A	N/A
UK		International Consolidated Airlines Group SA LSE:IAG	4.3	4%	1.1
IE	R	Ryanair Holdings PLC LSE:RYA	6.8	11%	0.6
US		Southwest Airlines Co NYSE:LUV	48.4	100%	0.5
CN		Air China Ltd SSE:601111	Negative Multiple: -643.8	N/A	N/A
IN		Interglobe Aviation Ltd NSE:INDIGO	15.9	6%	2.7
SG		Singapore Airlines Ltd SGX:C6L	13.2	1%	13.2
CN		China Southern Airlines Co Ltd SSE:600029	33.9	32%	1.1

Air Canada
F:ADH2

Multiples-Based Value

Valuation Multiples

Multiples Across Competitors

ADH2 Competitors Multiples
Air Canada Competitors

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Air Canada F:ADH2

Multiples-Based Value

Valuation Multiples

Multiples Across Competitors

ADH2 Competitors Multiples Air Canada Competitors

See Also

Company

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Stocks

Air Canada
F:ADH2

ADH2 Competitors Multiples
Air Canada Competitors