AirAsia X Bhd
AirAsia X Berhad, together with its subsidiaries, provides long haul air transportation services under the AirAsia brand in Malaysia, Thailand, and Indonesia. It also offers logistical management and marketing services; and leases aircraft facilities, as well as commercial air transport services. The company was formerly known as Fly Asian Xpress Sdn Bhd and changed its name to AirAsia X Berhad i… Read more
AirAsia X Bhd (5238) - Net Assets
Latest net assets as of December 2025: RM519.06 Million MYR
Based on the latest financial reports, AirAsia X Bhd (5238) has net assets worth RM519.06 Million MYR as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM3.36 Billion) and total liabilities (RM2.84 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | RM519.06 Million |
| % of Total Assets | 15.45% |
| Annual Growth Rate | -0.86% |
| 5-Year Change | N/A |
| 10-Year Change | -17.84% |
| Growth Volatility | 7342.75 |
AirAsia X Bhd - Net Assets Trend (2012–2025)
This chart illustrates how AirAsia X Bhd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for AirAsia X Bhd (2012–2025)
The table below shows the annual net assets of AirAsia X Bhd from 2012 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | RM519.06 Million | +48.65% |
| 2024-12-31 | RM349.18 Million | +200.56% |
| 2023-12-31 | RM116.17 Million | +144.82% |
| 2022-12-31 | RM-259.23 Million | +99.23% |
| 2020-12-31 | RM-33.57 Billion | -24446.92% |
| 2019-12-31 | RM137.87 Million | -75.97% |
| 2018-12-31 | RM573.66 Million | -41.97% |
| 2017-12-31 | RM988.61 Million | -0.83% |
| 2016-12-31 | RM996.87 Million | +57.78% |
| 2015-12-31 | RM631.81 Million | -10.25% |
| 2014-12-31 | RM704.00 Million | -43.04% |
| 2013-12-31 | RM1.24 Billion | +112.74% |
| 2012-12-31 | RM581.00 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to AirAsia X Bhd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 126433300000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM469.60 Million | 90.47% |
| Common Stock | RM51.03 Million | 9.83% |
| Other Comprehensive Income | RM-1.56 Million | -0.30% |
| Total Equity | RM519.06 Million | 100.00% |
AirAsia X Bhd Competitors by Market Cap
The table below lists competitors of AirAsia X Bhd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Anadolu Hayat Emeklilik Anonim Sirketi
PINK:AUHYF
|
$90.55 Million |
|
China New Higher Education Group Limited
F:8CN
|
$90.56 Million |
|
Suzhou Goldengreen Technologies Ltd
SHE:002808
|
$90.58 Million |
|
Bell Financial Group Ltd
AU:BFG
|
$90.60 Million |
|
Cathay Chemical Works Inc
TW:1713
|
$90.52 Million |
|
Usun Technology Co Ltd
TWO:3498
|
$90.52 Million |
|
American Outdoor Brands Inc
NASDAQ:AOUT
|
$90.51 Million |
|
Detection Technology OY
HE:DETEC
|
$90.49 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in AirAsia X Bhd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 349,176,000 to 519,063,999, a change of 169,887,999 (48.7%).
- Net income of 191,747,000 contributed positively to equity growth.
- Other comprehensive income decreased equity by 1,565,000.
- Other factors decreased equity by 20,294,001.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM191.75 Million | +36.94% |
| Other Comprehensive Income | RM-1.56 Million | -0.3% |
| Other Changes | RM-20.29 Million | -3.91% |
| Total Change | RM- | 48.65% |
Book Value vs Market Value Analysis
This analysis compares AirAsia X Bhd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.12x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 0.85x to 1.12x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2015-12-31 | RM1.52 | RM1.30 | x |
| 2016-12-31 | RM2.40 | RM1.30 | x |
| 2017-12-31 | RM2.38 | RM1.30 | x |
| 2018-12-31 | RM1.38 | RM1.30 | x |
| 2019-12-31 | RM0.33 | RM1.30 | x |
| 2020-12-31 | RM-80.92 | RM1.30 | x |
| 2022-12-31 | RM-0.62 | RM1.30 | x |
| 2023-12-31 | RM0.26 | RM1.30 | x |
| 2024-12-31 | RM0.78 | RM1.30 | x |
| 2025-12-31 | RM1.16 | RM1.30 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently AirAsia X Bhd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 36.94%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 5.77%
- • Asset Turnover: 0.99x
- • Equity Multiplier: 6.47x
- Recent ROE (36.94%) is above the historical average (-18.35%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | -55.34% | -11.42% | 0.73x | 6.62x | RM-412.80 Million |
| 2016 | 4.50% | 1.15% | 0.83x | 4.69x | RM-54.85 Million |
| 2017 | 10.00% | 2.16% | 0.96x | 4.82x | RM25.40K |
| 2018 | -52.55% | -6.59% | 1.05x | 7.57x | RM-358.85 Million |
| 2019 | -471.69% | -15.36% | 0.44x | 69.29x | RM-664.10 Million |
| 2020 | 0.00% | -2973.20% | 0.39x | 0.00x | RM-19.09 Billion |
| 2022 | 0.00% | 4033.20% | 0.22x | 0.00x | RM22.23 Billion |
| 2023 | 285.35% | 13.12% | 0.81x | 27.01x | RM319.89 Million |
| 2024 | 59.32% | 6.38% | 1.00x | 9.30x | RM172.21 Million |
| 2025 | 36.94% | 5.77% | 0.99x | 6.47x | RM139.84 Million |
Industry Comparison
This section compares AirAsia X Bhd's net assets metrics with peer companies in the Airlines industry.
Industry Context
- Industry: Airlines
- Average net assets among peers: $4,450,854,000
- Average return on equity (ROE) among peers: 12.16%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| AirAsia X Bhd (5238) | RM519.06 Million | -55.34% | 5.47x | $90.54 Million |
| Capital A Berhad (5099) | $4.45 Billion | 12.16% | 3.79x | $274.34 Million |