Balance Sheet Air Arabia

Stocks

AIRARABIA

AEA003001012

Airlines

Market Closed - Dubai FM Other stock markets 14:58:33 16/07/2026 +04			5-day change	1st Jan Change
5.200 ^AED	-1.89%		-4.59%	+11.59%

07-09	Mideast stocks-most Gulf stock markets extend losses amid rising US-Iran tensions	RE
06-29	Mideast stocks-major Gulf markets ease as US-Iran tensions keep investors on edge	RE

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Published financial data: AIR ARABIA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	3.17B	5.24B	6B	6.64B	7.79B
Total Revenues	3.17B	5.24B	6B	6.64B	7.79B
Cost of Goods Sold, Total	2.29B	3.81B	4.34B	5.08B	6.09B
Gross Profit	883M	1.43B	1.66B	1.56B	1.7B
Selling General & Admin Expenses, Total	240M	355M	418M	379M	430M
Other Operating Expenses, Total	240M	355M	418M	379M	430M
Operating Income	643M	1.08B	1.24B	1.18B	1.27B
Interest Expense, Total	-138M	-115M	-102M	-82.09M	-66.67M
Interest And Investment Income	63.2M	88.87M	210M	251M	241M
Net Interest Expenses	-74.56M	-26.59M	108M	169M	174M
Income (Loss) On Equity Invest.	89.7M	36.23M	88.12M	125M	190M
Currency Exchange Gains (Loss)	10.12M	-	-	-	-
Other Non Operating Income (Expenses)	51.72M	82.74M	113M	132M	197M
EBT, Excl. Unusual Items	720M	1.17B	1.55B	1.61B	1.83B
Gain (Loss) On Sale Of Investments	-	9.84M	-	-	-
Gain (Loss) On Sale Of Assets	-	43.03M	-	-	-
Asset Writedown	-	-	-	-	-
EBT, Incl. Unusual Items	720M	1.22B	1.55B	1.61B	1.83B
Income Tax Expense	-	-	-	142M	202M
Earnings From Continuing Operations	720M	1.22B	1.55B	1.47B	1.63B
Net Income to Company	720M	1.22B	1.55B	1.47B	1.63B
Minority Interest	-	-520K	-564K	-644K	-260K
Net Income - (IS)	720M	1.22B	1.55B	1.47B	1.63B
Net Income to Common Incl Extra Items	720M	1.22B	1.55B	1.47B	1.63B
Net Income to Common Excl. Extra Items	720M	1.22B	1.55B	1.47B	1.63B
Per Share Items
Net EPS - Basic	0.15	0.26	0.33	0.31	0.35
Basic EPS - Continuing Operations	0.15	0.26	0.33	0.31	0.35
Basic Weighted Average Shares Outstanding	4.67B	4.67B	4.67B	4.67B	4.67B
Net EPS - Diluted	0.15	0.26	0.33	0.31	0.35
Diluted EPS - Continuing Operations	0.15	0.26	0.33	0.31	0.35
Diluted Weighted Average Shares Outstanding	4.67B	4.67B	4.67B	4.67B	4.67B
Normalized Basic EPS	0.1	0.16	0.21	0.22	0.25
Normalized Diluted EPS	0.1	0.16	0.21	0.22	0.25
Dividend Per Share	0.08	0.15	0.2	0.25	0.3
Payout Ratio	-	32.47	45.25	63.62	71.69
Supplemental Items
EBITDA	1.17B	1.61B	1.77B	1.69B	1.71B
EBITA	645M	1.08B	1.24B	1.19B	1.28B
EBIT	643M	1.08B	1.24B	1.18B	1.27B
EBITDAR	1.18B	1.62B	1.78B	1.69B	1.72B
Effective Tax Rate - (Ratio)	-	-	-	8.79	11.04
Total Current Taxes	-	-	-	142M	-
Normalized Net Income	450M	730M	967M	1.01B	1.14B
Interest on Long-Term Debt	-	-	-	82.09M	66.67M
Non-Cash Pension Expense	17M	33.74M	44.06M	42.02M	49.75M
Supplemental Operating Expense Items
Advertising Expense	17.82M	29.66M	37.66M	46.1M	44.33M
Selling and Marketing Expenses	41.42M	68.05M	88.79M	104M	114M
General and Administrative Expenses	192M	279M	321M	266M	307M
Net Rental Expense, Total	6.58M	7.3M	8.58M	8.61M	9.53M
Imputed Operating Lease Interest Expense	1.92M	2.19M	2.72M	2.58M	2.08M
Imputed Operating Lease Depreciation	4.66M	5.11M	5.85M	6.03M	7.45M
Maintenance & Repair Expenses, Total	294M	499M	439M	686M	801M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	3.88B	4.74B	5.25B	5.32B	1.07B
Short Term Investments	-	-	-	-	4.13B
Total Cash And Short Term Investments	3.88B	4.74B	5.25B	5.32B	5.2B
Accounts Receivable, Total	354M	548M	401M	366M	376M
Other Receivables	-	-	-	-	-
Total Receivables	354M	548M	401M	366M	376M
Inventory	23.5M	32.75M	48.72M	53.46M	97.04M
Prepaid Expenses	14.19M	23.2M	30.52M	26.02M	22.75M
Other Current Assets, Total	371M	292M	427M	432M	498M
Total Current Assets	4.64B	5.63B	6.15B	6.2B	6.19B
Gross Property Plant And Equipment	10.89B	11.07B	11.19B	11.75B	13.54B
Accumulated Depreciation	-4.39B	-5.02B	-5.66B	-6.3B	-6.9B
Net Property Plant And Equipment	6.49B	6.05B	5.53B	5.45B	6.64B
Long-term Investments	194M	199M	436M	647M	821M
Goodwill	199M	199M	199M	199M	199M
Other Intangibles, Total	1.13B	1.14B	1.15B	1.15B	1.16B
Accounts Receivable Long-Term	129M	461M	139M	199M	366M
Deferred Charges Long-Term	30.96M	24.63M	19.29M	14.23M	9.25M
Other Long-Term Assets, Total	487M	734M	1.05B	1.51B	2.31B
Total Assets	13.31B	14.44B	14.67B	15.36B	17.7B
Liabilities
Accounts Payable, Total	254M	399M	288M	237M	352M
Accrued Expenses, Total	992M	1.15B	1.38B	1.22B	1.96B
Short-term Borrowings	37.63M	-	-	-	-
Current Portion of Long-Term Debt	-	109M	95.08M	15.38M	394M
Current Portion of Leases	652M	622M	585M	610M	263M
Current Income Taxes Payable	-	-	-	142M	150M
Unearned Revenue Current, Total	492M	514M	523M	984M	1.26B
Other Current Liabilities	724M	910M	1.21B	1.18B	1.28B
Total Current Liabilities	3.15B	3.71B	4.08B	4.39B	5.66B
Long-Term Debt	-	30.6M	30.61M	-	1.12B
Long-Term Leases	2.58B	2.13B	1.57B	1.48B	1B
Pension & Other Post Retirement Benefits	145M	170M	208M	240M	271M
Other Non Current Liabilities	1.35B	1.41B	1.25B	1.31B	1.24B
Total Liabilities	7.23B	7.44B	7.14B	7.41B	9.29B
Common Stock, Total	4.67B	4.67B	4.67B	4.67B	4.67B
Retained Earnings	1.12B	1.95B	2.8B	3.33B	3.79B
Comprehensive Income and Other	285M	380M	71.54M	-45.78M	-49.01M
Total Common Equity	6.07B	7B	7.53B	7.95B	8.41B
Minority Interest	-	520K	1.08M	1.73M	1.29M
Total Equity	6.07B	7B	7.54B	7.95B	8.41B
Total Liabilities And Equity	13.31B	14.44B	14.67B	15.36B	17.7B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	4.67B	4.67B	4.67B	4.67B	4.67B
ECS Total Common Shares Outstanding	4.67B	4.67B	4.67B	4.67B	4.67B
Book Value / Share	1.3	1.5	1.61	1.7	1.8
Tangible Book Value	4.74B	5.66B	6.19B	6.6B	7.05B
Tangible Book Value Per Share	1.02	1.21	1.33	1.41	1.51
Total Debt	3.27B	2.89B	2.28B	2.1B	2.78B
Net Debt	-604M	-1.85B	-2.97B	-3.22B	-2.42B
Debt Equivalent Oper. Leases	52.63M	58.42M	68.6M	68.87M	76.22M
Minority Interest, Total (Incl. Fin. Div)	-	520K	1.08M	1.73M	1.29M
Equity Method Investments, Total	178M	156M	206M	226M	363M
Account Code - Inventory Valuation	5	5	5	5	5
Land - (BS)	89.04M	89.04M	89.04M	89.04M	89.04M
Buildings, Total	677M	695M	698M	699M	724M
Machinery, Total	9.3B	9.36B	9.43B	9.56B	10.73B
Assets on Operating Lease - Gross	-	-	-	-	-
Assets on Operating Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	44.28M	48.59M	47.72M	49.37M	49.83M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	720M	1.22B	1.55B	1.47B	1.63B
Depreciation & Amortization - CF	612M	624M	638M	639M	611M
Amortization of Goodwill and Intangible Assets - (CF)	2.34M	3.24M	3.74M	5M	6.06M
Depreciation & Amortization, Total	614M	628M	642M	644M	617M
Amortization of Deferred Charges, Total - (CF)	6.45M	6.34M	5.68M	5.06M	4.98M
(Gain) Loss From Sale Of Asset	-	-43.03M	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-9.84M	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-89.7M	-36.23M	-88.12M	-125M	-190M
Provision and Write-off of Bad Debts	27.26M	47.34M	47.82M	1.64M	466K
Other Operating Activities, Total	88.13M	51.97M	-69.38M	6.38M	-29.6M
Change In Accounts Receivable	515M	-94.87M	21.13M	12.58M	-133M
Change In Inventories	2.06M	-9.24M	-15.97M	-4.74M	-43.59M
Change In Accounts Payable	-125M	404M	253M	-39.94M	579M
Change in Unearned Revenues	191M	21.54M	9.73M	312M	265M
Change in Other Net Operating Assets	-	-	-	-	162M
Cash from Operations	1.95B	2.19B	2.35B	2.28B	2.86B
Capital Expenditure	-52.46M	-256M	-378M	-580M	-2.33B
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-	-	-	-	-
Sale (Purchase) of Real Estate properties	-	-	-16.4M	-79.33M	-32.36M
Sale (Purchase) of Intangible assets	-10.37M	-9.43M	-11.35M	-9.35M	-18.28M
Investment in Marketable and Equity Securities, Total	-246M	-1.03B	-504M	-834M	445M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	38.13M	154M
Other Investing Activities, Total	41.64M	118M	217M	356M	318M
Cash from Investing	-267M	-1.17B	-693M	-1.11B	-1.46B
Short Term Debt Issued, Total	-	102M	-	-	-
Long-Term Debt Issued, Total	-	-	-	-	850M
Total Debt Issued	-	102M	-	-	850M
Short Term Debt Repaid, Total	-514M	-	-13.79M	-110M	-
Long-Term Debt Repaid, Total	-627M	-740M	-638M	-679M	-642M
Total Debt Repaid	-1.14B	-740M	-652M	-789M	-642M
Common Dividends Paid	-	-397M	-700M	-933M	-1.17B
Common & Preferred Stock Dividends Paid	-	-397M	-700M	-933M	-1.17B
Other Financing Activities, Total	-107M	-78.13M	-95.74M	-9.24M	-66.67M
Cash from Financing	-1.25B	-1.11B	-1.45B	-1.73B	-1.03B
Net Change in Cash	433M	-98.58M	212M	-562M	372M
Supplemental Items
Cash Interest Paid	107M	78.13M	95.74M	9.24M	66.67M
Cash Income Tax Paid (Refund)	-	-	-	-	130M
Levered Free Cash Flow	1.16B	1.35B	1.38B	1.14B	293M
Unlevered Free Cash Flow	1.25B	1.42B	1.45B	1.19B	335M
Change In Net Working Capital	-286M	-381M	-415M	-387M	-1.27B
Net Debt Issued / Repaid	-1.14B	-638M	-652M	-789M	208M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	3.1	4.85	5.32	4.93	4.8
Return on Total Capital	4.43	7	7.86	7.45	7.47
Return On Equity %	13.61	18.7	21.3	18.95	19.91
Return on Common Equity	13.61	18.7	21.3	18.95	19.91
Margin Analysis
Gross Profit Margin %	27.81	27.31	27.61	23.54	21.82
SG&A Margin	7.56	6.76	6.97	5.71	5.52
EBITDA Margin %	36.98	30.75	29.45	25.39	21.95
EBITA Margin %	20.33	20.61	20.71	17.91	16.38
EBIT Margin %	20.26	20.55	20.64	17.84	16.3
Income From Continuing Operations Margin %	22.68	23.32	25.8	22.11	20.91
Net Income Margin %	22.68	23.31	25.79	22.1	20.91
Net Avail. For Common Margin %	22.68	23.31	25.79	22.1	20.91
Normalized Net Income Margin	14.18	13.93	16.11	15.14	14.69
Levered Free Cash Flow Margin	36.51	25.76	23.05	17.11	3.76
Unlevered Free Cash Flow Margin	39.23	27.13	24.12	17.88	4.3
Asset Turnover
Asset Turnover	0.24	0.38	0.41	0.44	0.47
Fixed Assets Turnover	0.47	0.84	1.04	1.21	1.29
Receivables Turnover (Average Receivables)	9.36	11.62	12.64	17.32	21.01
Inventory Turnover (Average Inventory)	93.38	135.47	106.63	99.36	80.91
Short Term Liquidity
Current Ratio	1.47	1.52	1.51	1.41	1.09
Quick Ratio	1.34	1.43	1.38	1.3	0.99
Operating Cash Flow to Current Liabilities	0.62	0.59	0.58	0.52	0.51
Days Sales Outstanding (Average Receivables)	39.01	31.41	28.87	21.14	17.37
Days Outstanding Inventory (Average Inventory)	3.91	2.69	3.42	3.68	4.51
Average Days Payable Outstanding	44.94	31.19	28.76	18.92	17.55
Cash Conversion Cycle (Average Days)	-2.02	2.92	3.53	5.9	4.33
Long Term Solvency
Total Debt/Equity	53.9	41.29	30.24	26.43	33.07
Total Debt / Total Capital	35.02	29.22	23.22	20.9	24.85
LT Debt/Equity	42.54	30.83	21.21	18.56	25.27
Long-Term Debt / Total Capital	27.64	21.82	16.29	14.68	18.99
Total Liabilities / Total Assets	54.35	51.54	48.65	48.23	52.48
EBIT / Interest Expense	4.67	9.33	12.09	14.42	19.04
EBITDA / Interest Expense	9.12	14.76	18.35	22.26	28.29
(EBITDA - Capex) / Interest Expense	8.74	12.55	14.66	15.2	-6.62
Total Debt / EBITDA	2.6	1.69	1.21	1.15	1.47
Net Debt / EBITDA	-0.48	-1.08	-1.58	-1.76	-1.28
Total Debt / (EBITDA - Capex)	2.72	1.99	1.52	1.68	-6.3
Net Debt / (EBITDA - Capex)	-0.5	-1.28	-1.98	-2.58	5.48
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	71.48	65.14	14.46	10.66	15.1
Gross Profit, 1 Yr. Growth %	1.64K	62.15	15.72	-5.65	8.74
EBITDA, 1 Yr. Growth %	218.45	37.33	9.64	-4.62	1.41
EBITA, 1 Yr. Growth %	-507.68	67.41	15	-4.28	7.28
EBIT, 1 Yr. Growth %	-499.19	67.52	15	-4.4	7.22
Earnings From Cont. Operations, 1 Yr. Growth %	-474.6	69.78	26.62	-5.17	10.98
Net Income, 1 Yr. Growth %	-474.6	69.71	26.63	-5.18	11.01
Normalized Net Income, 1 Yr. Growth %	-515.7	62.32	32.36	3.96	13.82
Diluted EPS Before Extra, 1 Yr. Growth %	-474.61	69.71	26.63	-5.18	11.01
Accounts Receivable, 1 Yr. Growth %	9.26	54.7	-26.85	-8.75	2.64
Inventory, 1 Yr. Growth %	-8.08	39.33	48.77	9.72	81.54
Net Property, Plant and Equip., 1 Yr. Growth %	-6.48	-6.86	-8.59	-1.48	21.96
Total Assets, 1 Yr. Growth %	5.16	8.5	1.64	4.68	15.22
Tangible Book Value, 1 Yr. Growth %	48.97	19.27	9.39	6.66	6.76
Common Equity, 1 Yr. Growth %	34.76	15.15	7.7	5.53	5.77
Cash From Operations, 1 Yr. Growth %	148.14	12.27	7.55	-1.1	25.53
Capital Expenditures, 1 Yr. Growth %	81.41	388.03	47.65	53.33	301.55
Levered Free Cash Flow, 1 Yr. Growth %	179.91	16.5	2.45	-17.9	-70.52
Unlevered Free Cash Flow, 1 Yr. Growth %	148.84	14.23	1.75	-17.98	-67.99
Dividend Per Share, 1 Yr. Growth %	-	76.47	33.33	25	20
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-18.33	68.28	37.48	12.54	13.93
Gross Profit, 2 Yr. CAGR %	-15.93	431.25	36.98	4.49	1.29
EBITDA, 2 Yr. CAGR %	-10.46	109.13	22.71	2.26	-1.65
EBITA, 2 Yr. CAGR %	-16.94	161.25	38.75	4.91	1.33
EBIT, 2 Yr. CAGR %	-16.97	158.59	38.79	4.85	1.24
Earnings From Cont. Operations, 2 Yr. CAGR %	-15.49	152.19	46.62	9.58	2.58
Net Income, 2 Yr. CAGR %	-14.73	152.14	46.6	9.58	2.6
Normalized Net Income, 2 Yr. CAGR %	-14.26	159.77	46.58	17.31	8.78
Diluted EPS Before Extra, 2 Yr. CAGR %	-14.73	152.14	46.6	9.58	2.6
Accounts Receivable, 2 Yr. CAGR %	-3.92	30.01	6.38	-18.3	-3.22
Inventory, 2 Yr. CAGR %	0.02	13.17	43.97	27.77	41.13
Net Property, Plant and Equip., 2 Yr. CAGR %	-5.27	-6.67	-7.73	-5.1	9.62
Total Assets, 2 Yr. CAGR %	1.9	6.82	5.02	3.15	9.82
Tangible Book Value, 2 Yr. CAGR %	5.7	33.29	14.22	8.02	6.71
Common Equity, 2 Yr. CAGR %	4.55	24.57	11.36	6.61	5.65
Cash From Operations, 2 Yr. CAGR %	-3.52	66.91	9.88	2.06	11.42
Capital Expenditures, 2 Yr. CAGR %	-64.25	197.55	168.44	50.47	148.14
Levered Free Cash Flow, 2 Yr. CAGR %	10.49	80.58	9.25	-8.29	-53.97
Unlevered Free Cash Flow, 2 Yr. CAGR %	9.95	68.6	7.81	-8.65	-51.9
Dividend Per Share, 2 Yr. CAGR %	-2.82	-	53.39	29.1	22.47
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-8.34	3.28	47.99	27.89	14.11
Gross Profit, 3 Yr. CAGR %	4.31	4.65	219.64	20.97	5.88
EBITDA, 3 Yr. CAGR %	4.79	3.26	68.63	12.82	1.98
EBITA, 3 Yr. CAGR %	9.35	4.92	98.73	22.6	5.7
EBIT, 3 Yr. CAGR %	9.34	4.92	97.38	22.58	5.64
Earnings From Cont. Operations, 3 Yr. CAGR %	7.52	6.63	100.44	26.8	10.04
Net Income, 3 Yr. CAGR %	5.71	7.26	100.42	26.78	10.05
Normalized Net Income, 3 Yr. CAGR %	12.42	6.06	107.48	30.72	16.13
Diluted EPS Before Extra, 3 Yr. CAGR %	5.71	7.26	100.42	26.78	10.05
Accounts Receivable, 3 Yr. CAGR %	0.39	12.61	7.33	1.08	-11.84
Inventory, 3 Yr. CAGR %	4.45	11.7	23.97	31.51	43.64
Net Property, Plant and Equip., 3 Yr. CAGR %	-4.28	-5.8	-7.31	-5.69	3.18
Total Assets, 3 Yr. CAGR %	5.24	4.05	5.06	4.9	7.03
Tangible Book Value, 3 Yr. CAGR %	13.87	10.04	24.8	11.64	7.6
Common Equity, 3 Yr. CAGR %	10.41	7.97	18.67	9.38	6.33
Cash From Operations, 3 Yr. CAGR %	23.75	1.48	44.16	5.35	9.35
Capital Expenditures, 3 Yr. CAGR %	-18.77	-14.55	135.57	122.73	108.71
Levered Free Cash Flow, 3 Yr. CAGR %	2.54	12.45	49.49	-0.68	-39.9
Unlevered Free Cash Flow, 3 Yr. CAGR %	2.56	11.36	42.48	-1.58	-38.26
Dividend Per Share, 3 Yr. CAGR %	-	18.56	-	43.28	25.99
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-3.42	6.99	7.8	6.89	33.29
Gross Profit, 5 Yr. CAGR %	6.96	12.41	16.32	4.59	101.85
EBITDA, 5 Yr. CAGR %	7.87	10.22	11.62	2.86	35.91
EBITA, 5 Yr. CAGR %	12	16.43	20.27	4.92	51.8
EBIT, 5 Yr. CAGR %	11.98	16.42	20.29	4.89	51.12
Earnings From Cont. Operations, 5 Yr. CAGR %	7.19	13.04	21.72	7.8	53.33
Net Income, 5 Yr. CAGR %	7.98	14.14	20.48	8.18	53.33
Normalized Net Income, 5 Yr. CAGR %	8.47	13.82	25	10.43	60.25
Diluted EPS Before Extra, 5 Yr. CAGR %	7.98	14.14	20.48	8.18	53.33
Accounts Receivable, 5 Yr. CAGR %	6.5	14.44	2.75	-0.95	2.98
Inventory, 5 Yr. CAGR %	7.56	13.95	18.75	17.87	30.57
Net Property, Plant and Equip., 5 Yr. CAGR %	-1.79	-3.87	-5.67	-5.52	-0.88
Total Assets, 5 Yr. CAGR %	1.24	2.18	5.15	3.69	6.94
Tangible Book Value, 5 Yr. CAGR %	2.73	3.61	14.01	9.23	17.22
Common Equity, 5 Yr. CAGR %	2.22	2.99	10.79	7.42	13.28
Cash From Operations, 5 Yr. CAGR %	11.6	9.78	18.01	1.71	29.5
Capital Expenditures, 5 Yr. CAGR %	-30.79	5.58	31.03	7.15	140.52
Levered Free Cash Flow, 5 Yr. CAGR %	162.89	64.18	5.17	3.65	-6.68
Unlevered Free Cash Flow, 5 Yr. CAGR %	80.03	49.97	4.63	2.88	-7.72
Dividend Per Share, 5 Yr. CAGR %	3.96	8.45	-	22.67	-