China Eastern Airlines Corporation Limited
Financial ratios & Valuation

Historical Multiples (2012 – 2021)

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 TTM Median
Valuation Ratios
Price/Earnings ratio
11.3211.8711.1710.319.5210.7220.1818.03-3.88-2.97-1.9310.72
Price/Sales ratio
0.390.310.420.490.430.660.470.470.780.590.960.43
Price/Book Value ratio
1.451.041.271.250.861.220.930.830.810.731.420.86
Price/Cash Flow ratio
2.652.603.091.921.723.472.431.9837.966.93N/A3.47
Price/Free Cash Flow ratio
-38.93-3.40-2.80-5.06-3.10-13.29-14.122.69-7.61-7.71-4.42-13.29
Price/Earnings Growth ratio
-0.30-0.510.300.32-1.180.30-0.351.340.00-0.312.62-1.18
Dividend Yield
N/AN/AN/AN/A1.72%1.04%1.35%N/A1.78%N/AN/A1.04%
Profitability Indicator Ratios
Gross Profit Margin
17.80%8.81%12.68%17.80%16.40%10.62%10.18%9.87%-24.03%-22.33%-47.17%10.62%
Operating Profit Margin
4.95%1.78%6.71%13.43%12.62%9.20%8.08%8.34%-23.67%-15.89%-46.08%9.20%
Pretax Profit Margin
3.53%2.51%4.56%6.03%6.56%8.40%3.34%3.55%-28.19%-26.18%-58.62%8.40%
Net Profit Margin
3.46%2.68%3.78%4.82%4.54%6.18%2.34%2.64%-20.24%-19.86%-49.92%6.18%
Effective Tax Rate
6.79%5.60%13.93%11.01%23.73%20.90%24.01%19.05%23.81%24.14%7.83%20.90%
Return on Assets
2.38%1.69%2.05%2.29%2.11%2.76%1.12%1.11%-4.15%-4.59%-8.80%2.76%
Return On Equity
12.88%8.81%11.37%12.12%9.09%11.45%4.65%4.62%-21.04%-24.77%-58.14%11.45%
Return on Capital Employed
5.62%1.81%5.78%10.21%8.65%6.31%5.60%4.87%-7.48%-5.23%-12.63%6.31%
Liquidity Ratios
Current Ratio
0.260.230.290.310.230.220.210.250.22N/A0.360.23
Quick Ratio
0.170.160.260.280.200.200.190.220.200.300.340.20
Cash ratio
0.050.030.020.120.020.050.000.010.070.150.260.02
Days of Sales Outstanding
24.7428.8639.0637.8731.4637.3438.0143.3272.9568.6660.3731.46
Days of Inventory outstanding
10.8710.4510.479.719.928.706.878.0710.338.028.808.80
Operating Cycle
35.6239.3149.5347.5941.3846.0544.8951.3983.2876.6823.6946.05
Days of Payables Outstanding
16.0115.709.6517.5414.9012.6814.2512.9916.2010.9412.5212.68
Cash Conversion Cycle
19.6023.6039.8730.0526.4833.3630.6438.3967.0865.7450.0126.48
Debt Ratios
Debt Ratio
0.800.790.590.600.550.560.550.570.640.670.870.55
Debt Equity Ratio
4.324.143.263.182.382.362.282.353.283.637.292.38
Long-term Debt to Capitalization
0.640.630.680.660.620.590.610.630.660.710.790.62
Total Debt to Capitalization
0.740.730.760.760.700.700.690.700.760.780.860.70
Interest Coverage Ratio
-1.77N/A-2.10-2.73-2.46N/AN/AN/A-2.62N/A-3.89N/A
Cash Flow to Debt Ratio
0.180.140.120.200.210.140.160.170.000.02N/A0.14
Company Equity Multiplier
5.405.205.535.294.294.144.124.135.065.388.364.29
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.140.120.130.250.250.190.190.230.020.08N/A0.19
Free Cash Flow / Operating Cash Flow Ratio
-0.06-0.76-1.10-0.38-0.55-0.26-0.170.73-4.98-0.89N/A-0.55
Cash Flow Coverage Ratio
0.180.140.120.200.210.140.160.170.000.02N/A0.14
Short Term Coverage Ratio
0.490.410.360.540.700.400.570.700.010.09N/A0.40
Dividend Payout Ratio
N/AN/AN/AN/A16.40%11.17%27.35%N/A-6.91%N/AN/A11.17%