China Eastern Airlines Corp Ltd (600115) - Net Assets
Based on the latest financial reports, China Eastern Airlines Corp Ltd (600115) has net assets worth CN¥43.51 Billion CNY (≈ $6.37 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥287.36 Billion ≈ $42.05 Billion USD) and total liabilities (CN¥243.85 Billion ≈ $35.68 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 asset resilience ratio of China Eastern Airlines Corp Ltd to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥43.51 Billion |
| % of Total Assets | 15.14% |
| Annual Growth Rate | 10.78% |
| 5-Year Change | -30.0% |
| 10-Year Change | 3.7% |
| Growth Volatility | 185.97 |
China Eastern Airlines Corp Ltd - Net Assets Trend (1994–2024)
This chart illustrates how China Eastern Airlines Corp Ltd's net assets have evolved over time, based on quarterly financial data. Also explore 600115 asset base for the complete picture of this company's asset base.
Annual Net Assets for China Eastern Airlines Corp Ltd (1994–2024)
The table below shows the annual net assets of China Eastern Airlines Corp Ltd from 1994 to 2024. For live valuation and market cap data, see market cap of China Eastern Airlines Corp Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥41.41 Billion ≈ $6.06 Billion |
+0.46% |
| 2023-12-31 | CN¥41.22 Billion ≈ $6.03 Billion |
+36.94% |
| 2022-12-31 | CN¥30.10 Billion ≈ $4.40 Billion |
-47.33% |
| 2021-12-31 | CN¥57.15 Billion ≈ $8.36 Billion |
-3.38% |
| 2020-12-31 | CN¥59.15 Billion ≈ $8.66 Billion |
-18.57% |
| 2019-12-31 | CN¥72.65 Billion ≈ $10.63 Billion |
+17.93% |
| 2018-12-31 | CN¥61.60 Billion ≈ $9.01 Billion |
+4.80% |
| 2017-12-31 | CN¥58.78 Billion ≈ $8.60 Billion |
+12.24% |
| 2016-12-31 | CN¥52.37 Billion ≈ $7.66 Billion |
+31.14% |
| 2015-12-31 | CN¥39.93 Billion ≈ $5.84 Billion |
+25.68% |
| 2014-12-31 | CN¥31.77 Billion ≈ $4.65 Billion |
+11.16% |
| 2013-12-31 | CN¥28.58 Billion ≈ $4.18 Billion |
+16.41% |
| 2012-12-31 | CN¥24.55 Billion ≈ $3.59 Billion |
+12.60% |
| 2011-12-31 | CN¥21.81 Billion ≈ $3.19 Billion |
+31.66% |
| 2010-12-31 | CN¥16.56 Billion ≈ $2.42 Billion |
+888.07% |
| 2009-12-31 | CN¥1.68 Billion ≈ $245.28 Million |
+113.26% |
| 2008-12-31 | CN¥-12.64 Billion ≈ $-1.85 Billion |
-449.86% |
| 2007-12-31 | CN¥3.61 Billion ≈ $528.66 Million |
+3.91% |
| 2006-12-31 | CN¥3.48 Billion ≈ $508.74 Million |
-49.75% |
| 2005-12-31 | CN¥6.92 Billion ≈ $1.01 Billion |
-10.31% |
| 2004-12-31 | CN¥7.71 Billion ≈ $1.13 Billion |
+11.71% |
| 2003-12-31 | CN¥6.90 Billion ≈ $1.01 Billion |
-11.29% |
| 2002-12-31 | CN¥7.78 Billion ≈ $1.14 Billion |
-1.42% |
| 2001-12-31 | CN¥7.90 Billion ≈ $1.16 Billion |
+6.49% |
| 2000-12-31 | CN¥7.41 Billion ≈ $1.08 Billion |
+9.79% |
| 1999-12-31 | CN¥6.75 Billion ≈ $988.20 Million |
+4.68% |
| 1998-12-31 | CN¥6.45 Billion ≈ $943.98 Million |
-6.94% |
| 1997-12-31 | CN¥6.93 Billion ≈ $1.01 Billion |
+63.36% |
| 1996-12-31 | CN¥4.24 Billion ≈ $620.94 Million |
+120.97% |
| 1995-12-31 | CN¥1.92 Billion ≈ $281.01 Million |
-0.03% |
| 1994-12-31 | CN¥1.92 Billion ≈ $281.09 Million |
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Equity Component Analysis
This analysis shows how different components contribute to China Eastern Airlines Corp Ltd'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 11040.2% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CN¥22.29 Billion | 55.00% |
| Other Comprehensive Income | CN¥22.78 Billion | 56.20% |
| Other Components | CN¥52.78 Billion | 130.23% |
| Total Equity | CN¥40.53 Billion | 100.00% |
China Eastern Airlines Corp Ltd Competitors by Market Cap
The table below lists competitors of China Eastern Airlines Corp Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Sime Darby Plantation Bhd
KLSE:5285
|
$10.77 Billion |
|
Alcoa Corp
NYSE:AA
|
$10.77 Billion |
|
Essential Utilities Inc
NYSE:WTRG
|
$10.77 Billion |
|
RAIFFEIS. UNSPON.ADR/1/4
F:RAW0
|
$10.77 Billion |
|
Poly Real Estate Group Co Ltd
SHG:600048
|
$10.76 Billion |
|
TURKIYE GARANTI BANKASI AS
F:GBKB
|
$10.75 Billion |
|
Encompass Health Corp
NYSE:EHC
|
$10.75 Billion |
|
Sonova H Ag
SW:SOON
|
$10.75 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in China Eastern Airlines Corp Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 40,610,000,000 to 40,532,000,000, a change of -78,000,000 (-0.2%).
- Net loss of 4,226,000,000 reduced equity.
- Dividend payments of 5,225,000,000 reduced retained earnings.
- Share repurchases of 20,000,000 reduced equity.
- Other comprehensive income increased equity by 4,793,000,000.
- Other factors increased equity by 4,600,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥-4.23 Billion | -10.43% |
| Dividends Paid | CN¥5.22 Billion | -12.89% |
| Share Repurchases | CN¥20.00 Million | -0.05% |
| Other Comprehensive Income | CN¥4.79 Billion | +11.83% |
| Other Changes | CN¥4.60 Billion | +11.35% |
| Total Change | CN¥- | -0.19% |
Book Value vs Market Value Analysis
This analysis compares China Eastern Airlines Corp Ltd'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: 2.38x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 9.09x to 2.38x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1994-12-31 | CN¥0.48 | CN¥4.32 | x |
| 1995-12-31 | CN¥0.48 | CN¥4.32 | x |
| 1996-12-31 | CN¥1.08 | CN¥4.32 | x |
| 1997-12-31 | CN¥1.80 | CN¥4.32 | x |
| 1998-12-31 | CN¥1.33 | CN¥4.32 | x |
| 1999-12-31 | CN¥1.35 | CN¥4.32 | x |
| 2000-12-31 | CN¥1.44 | CN¥4.32 | x |
| 2001-12-31 | CN¥1.51 | CN¥4.32 | x |
| 2002-12-31 | CN¥1.42 | CN¥4.32 | x |
| 2003-12-31 | CN¥1.31 | CN¥4.32 | x |
| 2004-12-31 | CN¥1.45 | CN¥4.32 | x |
| 2005-12-31 | CN¥1.30 | CN¥4.32 | x |
| 2006-12-31 | CN¥0.57 | CN¥4.32 | x |
| 2007-12-31 | CN¥0.60 | CN¥4.32 | x |
| 2008-12-31 | CN¥-2.69 | CN¥4.32 | x |
| 2009-12-31 | CN¥0.19 | CN¥4.32 | x |
| 2010-12-31 | CN¥1.36 | CN¥4.32 | x |
| 2011-12-31 | CN¥1.77 | CN¥4.32 | x |
| 2012-12-31 | CN¥2.02 | CN¥4.32 | x |
| 2013-12-31 | CN¥2.28 | CN¥4.32 | x |
| 2014-12-31 | CN¥2.37 | CN¥4.32 | x |
| 2015-12-31 | CN¥2.97 | CN¥4.32 | x |
| 2016-12-31 | CN¥3.62 | CN¥4.32 | x |
| 2017-12-31 | CN¥3.83 | CN¥4.32 | x |
| 2018-12-31 | CN¥4.07 | CN¥4.32 | x |
| 2019-12-31 | CN¥4.57 | CN¥4.32 | x |
| 2020-12-31 | CN¥3.43 | CN¥4.32 | x |
| 2021-12-31 | CN¥3.19 | CN¥4.32 | x |
| 2022-12-31 | CN¥1.54 | CN¥4.32 | x |
| 2023-12-31 | CN¥1.82 | CN¥4.32 | x |
| 2024-12-31 | CN¥1.82 | CN¥4.32 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently China Eastern Airlines Corp Ltd 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): -10.43%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -3.20%
- • Asset Turnover: 0.48x
- • Equity Multiplier: 6.82x
- Recent ROE (-10.43%) is below the historical average (-3.71%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | 24.50% | 7.33% | 0.36x | 9.32x | CN¥263.38 Million |
| 1995 | 25.13% | 6.96% | 0.35x | 10.17x | CN¥277.57 Million |
| 1996 | 7.75% | 4.32% | 0.32x | 5.60x | CN¥-92.58 Million |
| 1997 | 9.19% | 7.40% | 0.32x | 3.89x | CN¥-55.56 Million |
| 1998 | -7.49% | -5.89% | 0.29x | 4.36x | CN¥-1.12 Billion |
| 1999 | 2.29% | 1.48% | 0.36x | 4.31x | CN¥-507.00 Million |
| 2000 | 2.44% | 1.56% | 0.39x | 4.04x | CN¥-543.49 Million |
| 2001 | 7.09% | 4.46% | 0.42x | 3.79x | CN¥-222.17 Million |
| 2002 | 1.17% | 0.66% | 0.40x | 4.44x | CN¥-651.54 Million |
| 2003 | -14.88% | -6.65% | 0.38x | 5.96x | CN¥-1.59 Billion |
| 2004 | 7.47% | 2.44% | 0.50x | 6.16x | CN¥-174.15 Million |
| 2005 | -7.20% | -1.60% | 0.46x | 9.73x | CN¥-1.05 Billion |
| 2006 | -122.66% | -9.21% | 0.61x | 21.73x | CN¥-3.73 Billion |
| 2007 | 8.08% | 0.58% | 0.62x | 22.48x | CN¥-58.27 Million |
| 2008 | 0.00% | -36.58% | 0.57x | 0.00x | CN¥-13.96 Billion |
| 2009 | 13.67% | 0.42% | 0.56x | 58.20x | CN¥45.31 Million |
| 2010 | 32.47% | 6.66% | 0.72x | 6.77x | CN¥3.43 Billion |
| 2011 | 22.74% | 5.48% | 0.73x | 5.70x | CN¥2.56 Billion |
| 2012 | 13.84% | 3.67% | 0.70x | 5.40x | CN¥880.62 Million |
| 2013 | 8.77% | 2.68% | 0.63x | 5.21x | CN¥-332.23 Million |
| 2014 | 11.40% | 3.81% | 0.54x | 5.53x | CN¥419.60 Million |
| 2015 | 12.14% | 4.84% | 0.47x | 5.29x | CN¥799.90 Million |
| 2016 | 9.12% | 4.57% | 0.46x | 4.29x | CN¥-437.00 Million |
| 2017 | 11.47% | 6.24% | 0.44x | 4.15x | CN¥816.00 Million |
| 2018 | 4.67% | 2.36% | 0.48x | 4.12x | CN¥-3.09 Billion |
| 2019 | 4.63% | 2.64% | 0.42x | 4.13x | CN¥-3.71 Billion |
| 2020 | -21.04% | -20.18% | 0.21x | 5.06x | CN¥-17.46 Billion |
| 2021 | -22.78% | -18.20% | 0.23x | 5.39x | CN¥-17.58 Billion |
| 2022 | -128.46% | -80.67% | 0.16x | 9.83x | CN¥-40.26 Billion |
| 2023 | -20.17% | -7.20% | 0.40x | 6.96x | CN¥-12.25 Billion |
| 2024 | -10.43% | -3.20% | 0.48x | 6.82x | CN¥-8.28 Billion |
Industry Comparison
This section compares China Eastern Airlines Corp Ltd's net assets metrics with peer companies in the Airlines industry.
Industry Context
- Industry: Airlines
- Average net assets among peers: $5,998,007,176
- Average return on equity (ROE) among peers: 22.37%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| China Eastern Airlines Corp Ltd (600115) | CN¥43.51 Billion | 24.50% | 5.60x | $10.76 Billion |
| China Express Airlines Co Ltd Class A (002928) | $793.93 Million | 43.55% | 3.56x | $1.48 Billion |
| China Southern Airlines Co Ltd Class A (600029) | $13.26 Billion | 3.97% | 6.14x | $10.67 Billion |
| Hainan Airlines Co Ltd A (600221) | $400.19 Million | 21.78% | 2.89x | $9.47 Billion |
| Spring Airlines Co Ltd (601021) | $2.74 Billion | 26.69% | 1.79x | $6.75 Billion |
| Air China Ltd Class A (601111) | $3.72 Billion | 22.25% | 13.75x | $12.30 Billion |
| Juneyao Airlines (603885) | $10.10 Billion | -4.73% | 3.34x | $3.66 Billion |
| Hainan Airlines Co Ltd B (900945) | $10.97 Billion | 43.05% | 12.06x | $92.36 Million |
About China Eastern Airlines Corp Ltd
China Eastern Airlines Corporation Limited, together with its subsidiaries, operates in the civil aviation industry in the People's Republic of China, Hong Kong, Macau, Taiwan, and internationally. It operates through Airline Transportation Operations and Other segments. The company offers passenger, cargo, mail delivery, ground, tour operations, air catering, and other miscellaneous services. It… Read more