ANA Holdings (ALNPY) AI Stock Analysis

• Market Cap: $9.26B
• Dividend Yield: 1.08%
• Average Volume (3M): 180.00
• Price to Earnings (P/E): 9.2
• Beta (1Y): 0.29
• Revenue Growth: 4.52%
• EPS Growth: -7.58%
• Country: US
• Employees: 41,225
• Sector: Industrials
• Sector Strength: 90
• Industry: Airlines, Airports & Air Services
• EPS (TTM): 0.06
• Shares Outstanding: 2,421,467,800
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 180
• PEG Ratio: 1.14
• Price to Book (P/B): 1.23
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 9.08
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 79 Outperform
• Price Target: $4.50 ▲(14.21%Upside)

ANA Holdings scores well due to strong financial performance and attractive valuation, supported by favorable technical indicators. The company has effectively navigated post-pandemic recovery with robust revenue growth and cash flow generation. While technicals indicate positive momentum, a high stochastic may suggest caution. The low P/E ratio further enhances its attractiveness, making it a solid investment in the airline sector.

ANA Holdings Business Overview & Revenue Model

Company Description

ANA Holdings Inc., together with its subsidiaries, provides air transportation services in Japan and internationally. It operates through Air Transportation, Airline Related, Travel Services, and Trade And Retail segments. The Air Transportation segment offers domestic and international passenger operations, cargo and mail operations, and other transportation services. The Airline Related segment provides air transportation related services, such as airport passenger, ground handling, and maintenance services. The Travel Services segment engages in the development and sale of travel plans; and planning and sale of branded travel packages using air transportation. The Trade and Retail segment is involved in the import and export operations of goods related to air transportation; and in-store and non-store retailing. The company was formerly known as All Nippon Airways Co., Ltd. and changed its name to ANA Holdings Inc. in April 2013. ANA Holdings Inc. was incorporated in 1920 and is headquartered in Tokyo, Japan.

How the Company Makes Money

ANA Holdings generates revenue primarily from its air transportation services, which include both passenger and cargo operations. The company's passenger services are its largest revenue stream, driven by domestic and international flights under its flagship carrier, ANA. Cargo operations also contribute significantly to revenue, transporting goods across a global network. Additionally, ANA Holdings benefits from ancillary services such as in-flight sales, travel packages, and loyalty programs. The company has strategic partnerships and alliances with other airlines, enhancing its global reach and offering competitive services. Furthermore, non-aviation businesses like trading, retail operations, and airport ground handling services add supplementary streams to its income.

ANA Holdings Financial Statement Overview

Summary

ANA Holdings has demonstrated strong revenue and profit growth post-pandemic with improved margins. The balance sheet is stable, reflecting effective equity utilization despite moderate leverage. Cash flow generation is robust, though growth has slowed, indicating a need for careful cost and debt management.

Income Statement

ANA Holdings has demonstrated a robust recovery in revenue post-pandemic, with a significant revenue growth rate from 2021 to 2025. The gross profit margin improved significantly, reaching 18.5% in 2025 from negative figures in earlier years, indicating enhanced operational efficiency. The net profit margin stands at 6.8% for 2025, showing strong profitability improvements, while the EBITDA margin of 16.4% underscores solid cash flow generation. However, EBIT margin decreased slightly from 2024 to 2025, suggesting some cost pressures.

Balance Sheet

The company's balance sheet reflects a stable financial position, with a debt-to-equity ratio of 1.19 in 2025, indicating moderate leverage. Return on equity improved significantly to 13.5%, showcasing effective utilization of shareholder funds. The equity ratio of 31.2% represents a solid capital structure with a reasonable level of equity. However, the high level of total debt remains a risk, though it has been decreasing over time.

Cash Flow

ANA Holdings has shown a strong recovery in cash flows, with a positive free cash flow of ¥117.1 billion in 2025. The operating cash flow to net income ratio is robust at 2.44, indicating strong cash generation relative to earnings. The free cash flow to net income ratio is 0.77, reflecting effective capital expenditure management. However, the free cash flow growth rate has declined from the previous year, suggesting potential challenges in cash generation.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	2.26T	2.06T	1.71T	1.02T	728.68B
Gross Profit	418.31B	413.67B	281.80B	-54.47B	-298.29B
EBITDA	370.58B	372.59B	289.57B	9.59B	-350.22B
Net Income	153.03B	157.10B	89.48B	-143.63B	-404.62B
Balance Sheet
Total Assets	3.62T	3.57T	3.37T	3.22T	3.21T
Cash, Cash Equivalents and Short-Term Investments	1.22T	1.26T	1.18T	950.99B	965.72B
Total Debt	1.35T	1.48T	1.61T	1.75T	1.66T
Total Liabilities	2.48T	2.52T	2.50T	2.42T	2.20T
Stockholders Equity	1.13T	1.04T	862.42B	797.25B	1.01T
Cash Flow
Free Cash Flow	117.10B	180.15B	332.93B	-209.78B	-427.15B
Operating Cash Flow	373.03B	420.62B	449.82B	-76.41B	-270.44B
Investing Cash Flow	-343.66B	-399.52B	-202.03B	230.02B	-595.44B
Financing Cash Flow	-170.15B	-136.04B	-144.91B	93.65B	1.10T

ANA Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.94
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ALNPY, the sentiment is Positive. The current price of 3.94 is below the 20-day moving average (MA) of 3.94, above the 50-day MA of 3.93, and above the 200-day MA of 3.82, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 48.79 is Neutral, neither overbought nor oversold. The STOCH value of 9.79 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ALNPY.

ANA Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
UAL	80 Outperform	$29.86B	9.24	27.70%	―	4.23%	13.13%
ALNPY	79 Outperform	$9.26B	9.19	13.95%	1.08%	4.52%	-7.58%
DAL	79 Outperform	$36.75B	8.17	30.07%	1.06%	3.01%	-0.90%
LTM	74 Outperform	$12.54B	11.59	138.69%	1.54%	6.41%	49.58%
LUV	66 Neutral	$20.81B	43.36	5.63%	1.97%	3.26%	27.77%
AAL	64 Neutral	$8.25B	14.44	-21.27%	―	1.92%	36.07%
Sector *	62 Neutral	C$6.64B	7.81	3.45%	2.76%	6.50%	-23.02%