ANA Holdings (ALNPY) AI Stock Analysis

• Market Cap: $8.83B
• Dividend Yield: 2.13%
• Average Volume (3M): 33.00
• Price to Earnings (P/E): 8.9
• Beta (1Y): 0.27
• Revenue Growth: 10.09%
• EPS Growth: 2.87%
• Country: US
• Employees: 41,225
• Sector: Industrials
• Sector Strength: 72
• Industry: Airlines, Airports & Air Services
• EPS (TTM): 0.15
• Shares Outstanding: 2,421,467,800
• 10 Day Avg. Volume: 99
• 30 Day Avg. Volume: 33
• PEG Ratio: -3.09
• Price to Book (P/B): 1.19
• Price to Sales (P/S): 0.59
• P/FCF Ratio: 11.47
• Enterprise Value/Market Cap: 1.30
• Enterprise Value/Revenue: <0.01
• Enterprise Value/Gross Profit: 0.03
• Enterprise Value/Ebitda: 0.03
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.38
• Revenue Forecast (FY): $16.07B

• Rating: 67 Neutral
• Price Target: $4.50 ▲(19.05% Upside)

ANA Holdings' strong financial performance, characterized by robust revenue and profit growth, is the primary driver of its stock score. However, technical indicators suggest potential short-term weakness, and while the valuation is reasonable, it does not significantly enhance the score.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust demand recovery and effective market positioning, enhancing long-term business sustainability.

Cash Flow Generation

Robust cash flow generation supports reinvestment and financial stability, enabling strategic growth and debt management.

Operational Efficiency

Improved operational efficiency enhances profitability and competitiveness, providing a buffer against cost pressures.

Negative Factors

Debt Levels

While leverage is moderate, high total debt levels pose a risk to financial flexibility and could impact future investment capacity.

Slowing Cash Flow Growth

Slowing cash flow growth may limit the company's ability to fund new initiatives, affecting long-term strategic opportunities.

EBIT Margin Pressure

Decreasing EBIT margin suggests rising cost pressures, which could impact profitability if not managed effectively.

ANA Holdings Business Overview & Revenue Model

Company Description

ANA Holdings Inc. is a leading airline and transportation services company headquartered in Tokyo, Japan. As the parent company of All Nippon Airways (ANA), it operates a comprehensive network of domestic and international flights, providing passenger and cargo transportation services. Additionally, ANA Holdings is involved in various sectors such as travel services, airport operations, and aircraft maintenance, offering a wide range of products and services to enhance the travel experience for its customers.

How the Company Makes Money

ANA Holdings generates revenue primarily through its passenger and cargo air transportation services. The company earns money by selling tickets for flights on its domestic and international routes, with additional income from ancillary services such as baggage fees, seat selection, and in-flight sales. Cargo services also contribute significantly to its revenue, transporting goods and freight across its network. Furthermore, ANA Holdings benefits from partnerships with other airlines, which allow it to offer codeshare flights, thereby increasing its market reach. The company also derives income from its loyalty program, offering rewards and incentives that encourage repeat business. Additionally, revenues are supplemented by ancillary businesses, including travel agency operations and aircraft maintenance services.

ANA Holdings Financial Statement Overview

Summary

ANA Holdings has shown strong revenue and profit growth post-pandemic, with improved margins. The balance sheet is stable with moderate leverage, and cash flow generation is robust, although there are signs of slowing growth.

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	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.29T	2.26T	2.06T	1.71T	1.02T	728.68B
Gross Profit	427.14B	418.31B	413.67B	281.80B	-54.47B	-298.29B
EBITDA	350.11B	370.58B	372.59B	289.57B	9.59B	-350.22B
Net Income	151.27B	153.03B	157.10B	89.48B	-143.63B	-404.62B
Balance Sheet
Total Assets	3.66T	3.62T	3.57T	3.37T	3.22T	3.21T
Cash, Cash Equivalents and Short-Term Investments	1.29T	1.22T	1.26T	1.18T	950.99B	965.72B
Total Debt	1.40T	1.35T	1.48T	1.61T	1.75T	1.66T
Total Liabilities	2.54T	2.48T	2.52T	2.50T	2.42T	2.20T
Stockholders Equity	1.11T	1.13T	1.04T	862.42B	797.25B	1.01T
Cash Flow
Free Cash Flow	123.36B	117.10B	180.15B	332.93B	-209.78B	-427.15B
Operating Cash Flow	358.11B	373.03B	420.62B	449.82B	-76.41B	-270.44B
Investing Cash Flow	-192.94B	-343.66B	-399.52B	-202.03B	230.02B	-595.44B
Financing Cash Flow	-90.74B	-170.15B	-136.04B	-144.91B	93.65B	1.10T

ANA Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.78
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ALNPY, the sentiment is Negative. The current price of 3.78 is below the 20-day moving average (MA) of 3.79, above the 50-day MA of 3.77, and below the 200-day MA of 3.87, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 46.00 is Neutral, neither overbought nor oversold. The STOCH value of 74.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ALNPY.

ANA Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DAL	77 Outperform	$41.89B	9.04	28.52%	1.00%	4.33%	-1.58%
UAL	68 Neutral	$33.79B	10.46	25.59%	―	4.24%	20.29%
ALNPY	67 Neutral	$8.83B	8.91	12.97%	2.13%	10.09%	2.87%
LTM	67 Neutral	$13.85B	11.59	135.74%	2.05%	6.81%	58.22%
LUV	65 Neutral	$17.98B	52.99	4.22%	2.26%	0.65%	―
AAL	64 Neutral	$9.21B	16.78	―	―	1.27%	118.64%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%