Sunday 11 October 2026 Export all ZNH data to Excel Powerpack

China Southern Airlines Company Limited

Revenue growth for three consecutive years, operating cash flow growth for three.

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Market cap: $17.7B
P/E: 0.0×
Fwd P/E: —
Dividend yield: —
F-score: n/a
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 73.49%

Capital & Financial Ratios $m

Market Cap 17,689.10

Revenue 22,362.53

Net Income 0.00

Free Cash Flow 8,090.69

Net Debt 19,919.39

Current Ratio 0.23

Debt/Equity 2.82

P/E ratio 0.00

Fwd P/E —

P/S ratio 0.55

P/B ratio 1.28

Past 5Y EPS Growth —

This Y EPS Growth —

Next Y EPS Growth —

Next Y revenue growth —

Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2019	0.36	0.36
2018	0.78	0.78
2017	0.73	0.73
2016	0.61	0.61

special payouts not included in total or ratios

Assets vs Liabilities $m

	2021	2022	2023	2024
Cash	3,350	2,982	1,813	2,200
Receivables	1,931	1,569	1,742	2,599
Inventory	256	206	221	278
Other	218	123	74	61
	5,869	4,971	3,948	5,253

	2021	2022	2023	2024
Payables	206	228	283	498
ST’ Debt	8,977	12,681	9,283	10,287
Other	2,210	2,140	2,599	2,825
	17,203	21,021	18,289	19,252

Compound Annual Growth %

	10y	5y	3y
Sales	3.21%	1.65%	15.44%
Cash Flow	11.89%	15.69%	131.01%
Earnings	0.00%	0.00%	0.00%
Book Value	0.15%	(8.06%)	(17.52%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’24	6,231	—	—	—	24,235
’23	4,979	—	—	—	22,598
’22	3,384	—	—	—	12,937
’21	3,279	7,965	—	7,769	15,755
’20	3,030	5,547	3,815	7,913	13,412
’19	5,577	10,795	6,235	11,631	22,330

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	1,366	1,781	3,749	—	—
’23	1,288	1,112	5,107	—	4,819
’22	3	247	1,066	—	(364)
’21	(8)	777	2,034	461	1,192
’20	(1,181)	(1,107)	575	1,558	391
’19	754	1,496	3,533	2,996	4,511
’18	710	—	2,419	1,125	2,325

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	899	643	2,445	—	—
’23	1,042	681	4,104	—	3,458
’22	(458)	451	573	—	(1,389)
’21	(583)	1,448	20	461	(1,311)
’20	(1,336)	(1,310)	389	1,558	(799)
’19	28	712	1,856	2,996	2,368
’18	525	—	1,001	1,125	(770)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’24	0.28	—	—	—	(0.69)
’23	(0.73)	—	—	—	(1.63)
’22	(2.13)	—	—	—	(14.12)
’21	(2.01)	(0.05)	—	(0.07)	(5.79)
’20	(3.08)	(0.09)	0.36	(0.03)	(5.58)
’19	1.63	0.02	1.57	0.01	1.56

Fiscal quarters ending in the months shown.

Group	Line	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025e
Price, $
Price, $	Low	—	—	—	—	—	—	—	—	—	—	Analyst estimates 2025–2027 Powerpack
	High	—	—	—	—	—	—	—	—	—	—
People
People	Employees	—	93,132	96,234	100,831	103,876	100,431	98,098	97,899	99,468	—
	Revenue/emp, $m	—	0.19	0.20	0.22	0.21	0.13	0.16	0.13	0.23	0.00
Income, $m
Income, $m	Revenue	—	17,305	18,915	21,701	22,330	13,412	15,755	12,937	22,598	24,235
	Gross margin, %	—	55.24	50.72	46.93	54.27	59.44	55.17	41.14	51.98	52.33
	EBT	—	1,153	1,313	659	587	(2,202)	(2,156)	(4,688)	(215)	202
	EBT margin, %	—	6.66	6.94	3.04	2.63	(16.42)	(13.69)	(36.24)	(0.95)	0.83
	Net income	—	1,153	1,313	659	587	(2,202)	(2,156)	(4,688)	(215)	0
	Depreciation	—	1,899	1,948	2,162	3,563	3,563	3,757	3,606	3,838	—
Per share, $
Per share, $	Revenue	—	88.13	95.30	101.23	91.02	47.71	48.62	37.60	62.35	66.87
	Earnings	—	3.84	3.85	2.00	1.56	(5.58)	(5.79)	(14.12)	(1.63)	(0.69)
	Cash flow	—	18.21	13.22	10.85	18.39	1.39	3.68	(1.06)	13.30	0.00
	Capex	—	(12.15)	(5.91)	(14.44)	(8.73)	(4.23)	(7.72)	(2.98)	(3.76)	0.00
	Free cash flow	—	6.06	7.31	(3.59)	9.65	(2.84)	(4.05)	(4.04)	9.54	0.00
	Book value	—	42.14	46.64	55.31	45.61	43.88	40.43	23.91	20.42	20.28
	Shares, m	—	196	198	214	245	281	324	344	362	362
Valuation, ×
Valuation, ×	P/E	—	5.42	10.44	5.14	10.40	0.00	0.00	0.00	—	—
	P/S	—	0.28	0.54	0.23	0.27	0.50	0.42	0.50	—	—
	P/B	—	0.60	1.06	0.69	1.00	0.96	1.06	1.17	—	—
	EV/Sales	—	0.40	0.83	0.86	1.04	1.81	1.45	0.97	—	—
	EV/FCF	—	1.90	3.48	6.74	8.51	(15.48)	33.68	(22.04)	—	—
Cash, $m
Cash, $m	Operating cash flow	—	3,576	2,624	2,325	4,511	391	1,192	(364)	4,819	—
	Capex	—	(2,386)	(1,173)	(3,095)	(2,143)	(1,190)	(2,503)	(1,025)	(1,361)	—
	Free cash flow	—	1,190	1,452	(770)	2,368	(799)	(1,311)	(1,389)	3,458	—
Balance, $m
Balance, $m	Working capital	—	(8,152)	(7,651)	(9,008)	(11,395)	(8,215)	(11,334)	(16,049)	(14,342)	(13,999)
	Total debt	—	14,904	15,965	17,691	7,406	11,336	27,623	28,642	26,204	28,512
	Net debt	—	14,259	14,938	16,560	7,092	7,636	24,273	25,660	24,391	26,312
	Shareholders’ equity	—	8,274	9,256	11,857	11,190	12,335	13,099	8,226	7,399	7,349
Returns, %
Returns, %	ROA	—	2.53	2.82	1.26	0.93	(3.43)	(3.85)	(10.07)	(1.30)	(0.55)
	ROIC	—	5.26	3.50	2.93	5.36	(5.38)	(2.57)	(6.18)	1.54	2.15
	ROE	—	9.34	10.07	4.14	3.32	(13.36)	(14.76)	(45.57)	(7.49)	(3.34)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2024 · latest quarter Mar 2024

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
DAL Delta Air Lines, Inc.	$54.0B	13.5×	16.9×	+18.67% (above 0%: growing)	−25.30% (below 0%: shrinking)	−78.86% (below 0%: shrinking)	24.70%	9.43%	Compare
UAL United Airlines Holdings Inc	$34.9B	10.1×	10.8×	+15.99% (above 0%: growing)	−17.17% (below 0%: shrinking)	−69.34% (below 0%: shrinking)	61.75%	6.20%	Compare
RYAAY Ryanair Holdings PLC	$28.0B	5.4×	—	+3.52% (above 0%: growing)	−72.60% (below 0%: shrinking)	−10.66% (below 0%: shrinking)	49.61%	13.12%	Compare
LUV Southwest Airlines Co.	$20.2B	25.1×	15.0×	+16.40% (above 0%: growing)	+20.00% (above 0%: growing)	+86.75% (above 0%: growing)	21.20%	3.38%	Compare
ZNH China Southern Airlines Company Limited	$17.7B	— (loss-making)	—	−21.77% (below 0%: shrinking)	n/m	+258.94% (above 0%: growing)	10.93%	3.41%
LTM LATAM Airlines Group S.A.	$14.5B	9.2×	8.8×	+27.15% (above 0%: growing)	−45.68% (below 0%: shrinking)	−20.71% (below 0%: shrinking)	16.27%	5.29%	Compare
AAL American Airlines Group Inc.	$8.5B	— (loss-making)	— (loss-making)	+16.28% (above 0%: growing)	−87.91% (below 0%: shrinking)	−175.65% (below 0%: shrinking)	20.73%	2.67%	Compare
CPA Copa Holdings, S.A.	$5.5B	8.8×	8.2×	+25.72% (above 0%: growing)	−53.74% (below 0%: shrinking)	+207.63% (above 0%: growing)	50.85%	8.65%	Compare
ALK Alaska Air Group, Inc.	$4.4B	— (loss-making)	— (loss-making)	+9.75% (above 0%: growing)	n/m	−14.61% (below 0%: shrinking)	100.00%	(4.13%)	Compare
Median of peers	$17.4B	9.6×	10.8×	+16.34%	−45.68%	−17.66%	37.16%	5.75%

All 19 Airlines stocks →