AirAsia X Bhd (5238) - Net Assets

Latest as of March 2026: RM81.99 Million MYR ≈ $20.58 Million USD

Based on the latest financial reports, AirAsia X Bhd (5238) has net assets worth RM81.99 Million MYR (≈ $20.58 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM42.65 Billion ≈ $10.71 Billion USD) and total liabilities (RM42.57 Billion ≈ $10.69 Billion USD). 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. For live market cap and overall valuation, see 5238 market cap.

Key Net Assets Metrics

Metric	Value
Current Net Assets	RM81.99 Million
% of Total Assets	0.19%
Annual Growth Rate	-1.03%
5-Year Change	N/A
10-Year Change	-19.59%
Growth Volatility	7342.64

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.

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. See 5238 equity to assets ratio to measure how much of total assets are equity-financed.

Year	Net Assets	Change
2025-12-31	RM508.06 Million ≈ $127.56 Million	+45.50%
2024-12-31	RM349.18 Million ≈ $87.67 Million	+200.56%
2023-12-31	RM116.17 Million ≈ $29.17 Million	+144.82%
2022-12-31	RM-259.23 Million ≈ $-65.08 Million	+99.23%
2020-12-31	RM-33.57 Billion ≈ $-8.43 Billion	-24446.92%
2019-12-31	RM137.87 Million ≈ $34.61 Million	-75.97%
2018-12-31	RM573.66 Million ≈ $144.03 Million	-41.97%
2017-12-31	RM988.61 Million ≈ $248.21 Million	-0.83%
2016-12-31	RM996.87 Million ≈ $250.28 Million	+57.78%
2015-12-31	RM631.81 Million ≈ $158.63 Million	-10.25%
2014-12-31	RM704.00 Million ≈ $176.75 Million	-43.04%
2013-12-31	RM1.24 Billion ≈ $310.32 Million	+112.74%
2012-12-31	RM581.00 Million ≈ $145.87 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 125183800000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	RM457.11 Million	89.97%
Common Stock	RM51.03 Million	10.04%
Other Comprehensive Income	RM-69.00K	-0.01%
Total Equity	RM508.06 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
Shenzhen Exc Led Technology Co Ltd SHE:300889	$683.52 Million
Kindom Construction Corp TW:2520	$683.61 Million
Community West Bancshares NASDAQ:CWBC	$683.78 Million
N-Able Inc NYSE:NABL	$683.81 Million
Ta Ann Holdings Bhd KLSE:5012	$683.42 Million
Carasso TA:CRSO	$683.21 Million
M Grass Ecology and Environment Group Co Ltd SHE:300355	$683.13 Million
Investment AB Oresund ST:ORES	$683.03 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 508,065,000, a change of 158,889,000 (45.5%).
Net income of 179,252,000 contributed positively to equity growth.
Other comprehensive income decreased equity by 69,000.
Other factors decreased equity by 20,294,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	RM179.25 Million	+35.28%
Other Comprehensive Income	RM-69.00K	-0.01%
Other Changes	RM-20.29 Million	-3.99%
Total Change	RM-	45.50%

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: 0.71x
The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
The price-to-book ratio has increased from 0.53x to 0.71x 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	RM0.81	x
2016-12-31	RM2.40	RM0.81	x
2017-12-31	RM2.38	RM0.81	x
2018-12-31	RM1.38	RM0.81	x
2019-12-31	RM0.33	RM0.81	x
2020-12-31	RM-80.92	RM0.81	x
2022-12-31	RM-0.62	RM0.81	x
2023-12-31	RM0.26	RM0.81	x
2024-12-31	RM0.78	RM0.81	x
2025-12-31	RM1.14	RM0.81	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): 35.28%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 5.35%
• Asset Turnover: 0.97x
• Equity Multiplier: 6.79x
Recent ROE (35.28%) is above the historical average (-18.51%), 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	35.28%	5.35%	0.97x	6.79x	RM128.45 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: $-10,624,737,000
Average return on equity (ROE) among peers: 0.00%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
AirAsia X Bhd (5238)	RM81.99 Million	-55.34%	519.19x	$683.47 Million
Capital A Berhad (5099)	$-10.62 Billion	0.00%	0.00x	$359.80 Million

About AirAsia X Bhd

KLSE:5238 Malaysia Airlines

Market Cap

$683.47 Million

RM2.72 Billion MYR

Market Cap Rank

#10759 Global

#109 in Malaysia

Share Price

RM0.81

Change (1 day)

-8.47%

52-Week Range

RM0.81 - RM2.27

All Time High

RM5.35