China Southern Airlines Co Ltd Class A (600029) - Net Assets
Based on the latest financial reports, China Southern Airlines Co Ltd Class A (600029) has net assets worth CN¥57.16 Billion CNY (≈ $8.36 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥356.51 Billion ≈ $52.17 Billion USD) and total liabilities (CN¥299.35 Billion ≈ $43.80 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. Check China Southern Airlines Co Ltd Class A tangible equity quality to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥57.16 Billion |
| % of Total Assets | 16.03% |
| Annual Growth Rate | 6.38% |
| 5-Year Change | -34.9% |
| 10-Year Change | 0.06% |
| Growth Volatility | 27.57 |
China Southern Airlines Co Ltd Class A - Net Assets Trend (1997–2025)
This chart illustrates how China Southern Airlines Co Ltd Class A's net assets have evolved over time, based on quarterly financial data. See China Southern Airlines Co Ltd Class A liquidity coverage in days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for China Southern Airlines Co Ltd Class A (1997–2025)
The table below shows the annual net assets of China Southern Airlines Co Ltd Class A from 1997 to 2025. For live valuation and market cap data, see China Southern Airlines Co Ltd Class A (600029) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥55.01 Billion ≈ $8.05 Billion |
+4.59% |
| 2024-12-31 | CN¥52.59 Billion ≈ $7.70 Billion |
+1.15% |
| 2023-12-31 | CN¥52.00 Billion ≈ $7.61 Billion |
-6.07% |
| 2022-12-31 | CN¥55.36 Billion ≈ $8.10 Billion |
-34.49% |
| 2021-12-31 | CN¥84.51 Billion ≈ $12.37 Billion |
-0.73% |
| 2020-12-31 | CN¥85.13 Billion ≈ $12.46 Billion |
+10.09% |
| 2019-12-31 | CN¥77.33 Billion ≈ $11.32 Billion |
-1.45% |
| 2018-12-31 | CN¥78.47 Billion ≈ $11.48 Billion |
+25.46% |
| 2017-12-31 | CN¥62.54 Billion ≈ $9.15 Billion |
+13.76% |
| 2016-12-31 | CN¥54.98 Billion ≈ $8.04 Billion |
+10.79% |
| 2015-12-31 | CN¥49.62 Billion ≈ $7.26 Billion |
+11.53% |
| 2014-12-31 | CN¥44.49 Billion ≈ $6.51 Billion |
+4.81% |
| 2013-12-31 | CN¥42.45 Billion ≈ $6.21 Billion |
+6.84% |
| 2012-12-31 | CN¥39.73 Billion ≈ $5.81 Billion |
+5.18% |
| 2011-12-31 | CN¥37.78 Billion ≈ $5.53 Billion |
+25.04% |
| 2010-12-31 | CN¥30.21 Billion ≈ $4.42 Billion |
+127.82% |
| 2009-12-31 | CN¥13.26 Billion ≈ $1.94 Billion |
+39.91% |
| 2008-12-31 | CN¥9.48 Billion ≈ $1.39 Billion |
-35.57% |
| 2007-12-31 | CN¥14.71 Billion ≈ $2.15 Billion |
+21.38% |
| 2006-12-31 | CN¥12.12 Billion ≈ $1.77 Billion |
+1.55% |
| 2005-12-31 | CN¥11.94 Billion ≈ $1.75 Billion |
-14.15% |
| 2004-12-31 | CN¥13.90 Billion ≈ $2.03 Billion |
+2.46% |
| 2003-12-31 | CN¥13.57 Billion ≈ $1.99 Billion |
+21.92% |
| 2002-12-31 | CN¥11.13 Billion ≈ $1.63 Billion |
+5.00% |
| 2001-12-31 | CN¥10.60 Billion ≈ $1.55 Billion |
+4.20% |
| 2000-12-31 | CN¥10.17 Billion ≈ $1.49 Billion |
+5.76% |
| 1999-12-31 | CN¥9.62 Billion ≈ $1.41 Billion |
+3.72% |
| 1998-12-31 | CN¥9.27 Billion ≈ $1.36 Billion |
-4.71% |
| 1997-12-31 | CN¥9.73 Billion ≈ $1.42 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to China Southern Airlines Co Ltd Class A'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 decreased by 4241.9% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | CN¥73.31 Billion | 206.03% |
| Total Equity | CN¥35.58 Billion | 100.00% |
China Southern Airlines Co Ltd Class A Competitors by Market Cap
The table below lists competitors of China Southern Airlines Co Ltd Class A ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Saia Inc
NASDAQ:SAIA
|
$10.26 Billion |
|
Turkiye Petrol Rafinerileri AS
IS:TUPRS
|
$10.27 Billion |
|
MP Materials Corp
NYSE:MP
|
$10.28 Billion |
|
Symrise AG
F:SY1
|
$10.30 Billion |
|
Logitech International S.A.
SW:LOGN
|
$10.25 Billion |
|
Guangdong Fenghua Advanced Technology Holding Co Ltd
SHE:000636
|
$10.25 Billion |
|
SK TELECOM CO.LTD.ADR 5/9
F:KMBA
|
$10.24 Billion |
|
Revvity Inc.
NYSE:RVTY
|
$10.24 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in China Southern Airlines Co Ltd Class A's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 34,729,000,000 to 35,580,000,000, a change of 851,000,000 (2.5%).
- Net income of 857,000,000 contributed positively to equity growth.
- Dividend payments of 5,811,000,000 reduced retained earnings.
- Other comprehensive income decreased equity by 169,000,000.
- Other factors increased equity by 5,974,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥857.00 Million | +2.41% |
| Dividends Paid | CN¥5.81 Billion | -16.33% |
| Other Comprehensive Income | CN¥-169.00 Million | -0.47% |
| Other Changes | CN¥5.97 Billion | +16.79% |
| Total Change | CN¥- | 2.45% |
Book Value vs Market Value Analysis
This analysis compares China Southern Airlines Co Ltd Class A'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: 2.65x
- 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 2.42x to 2.65x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1997-12-31 | CN¥2.14 | CN¥5.20 | x |
| 1998-12-31 | CN¥1.61 | CN¥5.20 | x |
| 1999-12-31 | CN¥1.66 | CN¥5.20 | x |
| 2000-12-31 | CN¥1.64 | CN¥5.20 | x |
| 2001-12-31 | CN¥1.81 | CN¥5.20 | x |
| 2002-12-31 | CN¥1.89 | CN¥5.20 | x |
| 2003-12-31 | CN¥1.99 | CN¥5.20 | x |
| 2004-12-31 | CN¥1.81 | CN¥5.20 | x |
| 2005-12-31 | CN¥1.52 | CN¥5.20 | x |
| 2006-12-31 | CN¥1.55 | CN¥5.20 | x |
| 2007-12-31 | CN¥1.87 | CN¥5.20 | x |
| 2008-12-31 | CN¥1.07 | CN¥5.20 | x |
| 2009-12-31 | CN¥1.46 | CN¥5.20 | x |
| 2010-12-31 | CN¥3.21 | CN¥5.20 | x |
| 2011-12-31 | CN¥3.28 | CN¥5.20 | x |
| 2012-12-31 | CN¥3.34 | CN¥5.20 | x |
| 2013-12-31 | CN¥3.50 | CN¥5.20 | x |
| 2014-12-31 | CN¥3.64 | CN¥5.20 | x |
| 2015-12-31 | CN¥3.98 | CN¥5.20 | x |
| 2016-12-31 | CN¥4.43 | CN¥5.20 | x |
| 2017-12-31 | CN¥5.03 | CN¥5.20 | x |
| 2018-12-31 | CN¥6.09 | CN¥5.20 | x |
| 2019-12-31 | CN¥5.23 | CN¥5.20 | x |
| 2020-12-31 | CN¥4.95 | CN¥5.20 | x |
| 2021-12-31 | CN¥4.19 | CN¥5.20 | x |
| 2022-12-31 | CN¥2.40 | CN¥5.20 | x |
| 2023-12-31 | CN¥2.03 | CN¥5.20 | x |
| 2024-12-31 | CN¥1.84 | CN¥5.20 | x |
| 2025-12-31 | CN¥1.96 | CN¥5.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently China Southern Airlines Co Ltd Class A 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): 2.41%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.47%
- • Asset Turnover: 0.52x
- • Equity Multiplier: 9.83x
- Recent ROE (2.41%) is above the historical average (-2.55%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1997 | 13.17% | 8.91% | 0.39x | 3.74x | CN¥273.78 Million |
| 1998 | -6.69% | -4.59% | 0.37x | 3.94x | CN¥-1.36 Billion |
| 1999 | 0.98% | 0.62% | 0.41x | 3.89x | CN¥-755.74 Million |
| 2000 | 5.65% | 3.31% | 0.49x | 3.48x | CN¥-386.46 Million |
| 2001 | 3.69% | 2.02% | 0.55x | 3.32x | CN¥-581.94 Million |
| 2002 | 5.99% | 3.20% | 0.48x | 3.87x | CN¥-385.56 Million |
| 2003 | -3.01% | -2.05% | 0.45x | 3.28x | CN¥-1.55 Billion |
| 2004 | -0.41% | -0.20% | 0.39x | 5.25x | CN¥-1.23 Billion |
| 2005 | -18.46% | -4.82% | 0.54x | 7.14x | CN¥-2.85 Billion |
| 2006 | 1.24% | 0.27% | 0.61x | 7.42x | CN¥-892.80 Million |
| 2007 | 15.28% | 3.43% | 0.67x | 6.69x | CN¥646.40 Million |
| 2008 | -68.17% | -8.66% | 0.67x | 11.83x | CN¥-5.49 Billion |
| 2009 | 5.09% | 0.96% | 0.58x | 9.15x | CN¥-508.10 Million |
| 2010 | 21.69% | 7.58% | 0.69x | 4.16x | CN¥3.12 Billion |
| 2011 | 15.88% | 5.65% | 0.70x | 4.02x | CN¥1.89 Billion |
| 2012 | 8.00% | 2.59% | 0.71x | 4.34x | CN¥-655.90 Million |
| 2013 | 5.52% | 1.93% | 0.59x | 4.81x | CN¥-1.54 Billion |
| 2014 | 4.96% | 1.64% | 0.57x | 5.31x | CN¥-1.80 Billion |
| 2015 | 9.97% | 3.49% | 0.60x | 4.76x | CN¥-12.50 Million |
| 2016 | 11.63% | 4.40% | 0.57x | 4.61x | CN¥710.40 Million |
| 2017 | 11.84% | 4.64% | 0.58x | 4.38x | CN¥920.40 Million |
| 2018 | 4.57% | 2.08% | 0.58x | 3.78x | CN¥-3.54 Billion |
| 2019 | 4.14% | 1.72% | 0.50x | 4.79x | CN¥-3.76 Billion |
| 2020 | -15.58% | -11.71% | 0.28x | 4.69x | CN¥-17.80 Billion |
| 2021 | -17.84% | -11.91% | 0.31x | 4.76x | CN¥-18.89 Billion |
| 2022 | -79.18% | -37.54% | 0.28x | 7.57x | CN¥-36.81 Billion |
| 2023 | -11.44% | -2.63% | 0.52x | 8.41x | CN¥-7.89 Billion |
| 2024 | -4.88% | -0.97% | 0.53x | 9.49x | CN¥-5.17 Billion |
| 2025 | 2.41% | 0.47% | 0.52x | 9.83x | CN¥-2.70 Billion |
Industry Comparison
This section compares China Southern Airlines Co Ltd Class A's net assets metrics with peer companies in the Airlines industry.
Industry Context
- Industry: Airlines
- Average net assets among peers: $18,606,703,111
- Average return on equity (ROE) among peers: -0.30%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| China Southern Airlines Co Ltd Class A (600029) | CN¥57.16 Billion | 13.17% | 5.24x | $10.25 Billion |
| China Express Airlines Co Ltd Class A (002928) | $3.95 Billion | 15.50% | 1.92x | $1.35 Billion |
| China Eastern Airlines Corp Ltd (600115) | $3.48 Billion | -99.31% | 16.59x | $9.99 Billion |
| Hainan Airlines Co Ltd A (600221) | $400.19 Million | 21.78% | 2.89x | $9.34 Billion |
| Spring Airlines Co Ltd (601021) | $18.16 Billion | 12.76% | 1.58x | $6.56 Billion |
| Air China Ltd Class A (601111) | $100.56 Billion | 7.30% | 1.42x | $11.90 Billion |
| Juneyao Airlines (603885) | $2.12 Billion | 20.18% | 2.74x | $3.50 Billion |
| Hainan Airlines Co Ltd B (900945) | $1.58 Billion | 19.71% | 83.98x | $84.60 Million |
About China Southern Airlines Co Ltd Class A
China Southern Airlines Company Limited, together with its subsidiaries, provides airline transport services in China, Hong Kong, Macau, Taiwan, and internationally. It operates in two segments, Aviation Operations and Other. The company offers air passenger; freight; mail; airline catering; hotel and travel; leasing; and internet services. It also provides online services, including seat and che… Read more