Beijing Capital International Airport Co Ltd Class H (HK:0694)
:0694
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Beijing Capital International Airport Co
(0694)
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Rating:44Neutral
Price Target:
HK$2.00
▼(-23.95% Downside)
Action:ReiteratedDate:04/28/26
The score is held down primarily by incomplete earnings recovery (ongoing EBIT/net losses) despite improving cash generation and stabilized revenue. Technicals are weak with the stock below key moving averages and negative MACD, while valuation is constrained by negative earnings and no stated dividend yield.
Positive Factors
Improved cash generation
The shift to positive operating cash flow and a positive free cash flow print in 2025 indicates the airport platform is converting traffic recovery into real cash. Durable cash generation supports debt servicing, targeted capex for capacity or retail upgrades, and reduces reliance on external financing over the medium term.
Negative Factors
Ongoing operating and net losses
Despite EBITDA recovery, persistent EBIT and net losses mean the company cannot yet rebuild retained earnings organically. Continued operating losses reduce the ability to self-fund strategic investments or weather traffic setbacks, making long-term recovery dependent on sustained margin improvement and cost control.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation
The shift to positive operating cash flow and a positive free cash flow print in 2025 indicates the airport platform is converting traffic recovery into real cash. Durable cash generation supports debt servicing, targeted capex for capacity or retail upgrades, and reduces reliance on external financing over the medium term.
Read all positive factors
Beijing Capital International Airport Co (0694) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$8.65B
Dividend YieldN/A
Average Volume (3M)9.06M
Price to Earnings (P/E)―
Beta (1Y)1.04
Revenue Growth2.58%
EPS Growth54.45%
CountryHK
Employees1,516
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)-0.11
Shares Outstanding1,879,364,000
10 Day Avg. Volume5,666,257
30 Day Avg. Volume9,057,260
Financial Highlights & Ratios
PEG Ratio0.33
Price to Book (P/B)0.88
Price to Sales (P/S)2.07
P/FCF Ratio13.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$2.77Price Target Upside5.20% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)<0.01
Revenue Forecast (FY)HK$6.09B
Beijing Capital International Airport Co Business Overview & Revenue Model
Company Description
Beijing Capital International Airport Company Limited engages in the aeronautical and non-aeronautical businesses at the Beijing Capital Airport in the People's Republic of China. The company's aeronautical business is involved in the provision of...
How the Company Makes Money
The company primarily makes money by operating an airport platform that earns revenue from (1) aeronautical activities tied to aircraft movements and passenger throughput and (2) non-aeronautical commercial activities within the airport.
1) Aeron...
Beijing Capital International Airport Co Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
52
Neutral
Cash Flow
45
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.49B | 5.49B | 4.56B | 2.23B | 3.34B |
| Gross Profit | 257.57M | 1.58B | 640.96M | -2.17B | -643.39M |
| EBITDA | 1.28B | 950.17M | 112.92M | -2.13B | -1.03B |
| Net Income | -613.73M | -1.39B | -1.70B | -3.53B | -2.12B |
Balance Sheet | |||||
| Total Assets | 30.03B | 30.68B | 32.59B | 33.48B | 35.15B |
| Cash, Cash Equivalents and Short-Term Investments | 1.91B | 1.44B | 1.29B | 1.60B | 2.23B |
| Total Debt | 11.44B | 11.67B | 10.83B | 9.78B | 8.01B |
| Total Liabilities | 17.16B | 17.22B | 17.70B | 16.88B | 14.97B |
| Stockholders Equity | 12.86B | 13.46B | 14.89B | 16.60B | 20.17B |
Cash Flow | |||||
| Free Cash Flow | 832.64M | -325.11M | -868.83M | -2.02B | -1.26B |
| Operating Cash Flow | 1.37B | 97.60M | -575.86M | -1.50B | -621.49M |
| Investing Cash Flow | -534.68M | -409.13M | -318.64M | -479.18M | -620.65M |
| Financing Cash Flow | -423.95M | 457.17M | 585.56M | 1.34B | 1.17B |
Beijing Capital International Airport Co Technical Analysis
Negative
2.63
Price Trends
2.15
Negative
2.44
Negative
2.69
Negative
Market Momentum
-0.06
Negative
37.86
Neutral
43.96
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0694, the sentiment is Negative. The current price of 2.63 is above the 20-day moving average (MA) of 1.85, above the 50-day MA of 2.15, and below the 200-day MA of 2.69, indicating a neutral trend. The MACD of -0.06 indicates Negative momentum. The RSI at 37.86 is Neutral, neither overbought nor oversold. The STOCH value of 43.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0694.
Beijing Capital International Airport Co Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | HK$6.78B | 13.69 | 5.90% | 5.26% | 12.06% | -19.10% | |
70 Outperform | HK$5.58B | 13.83 | 1.61% | 7.48% | 2.77% | 104.40% | |
67 Neutral | HK$4.18B | 6.18 | 4.48% | 6.69% | -14.81% | -3.39% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | HK$12.18B | 4.20 | 8.00% | 3.55% | -3.33% | -8.42% | |
46 Neutral | HK$2.88B | -16.73 | -5.08% | ― | -7.61% | 26.48% | |
44 Neutral | HK$8.65B | -18.50 | -4.76% | ― | 2.58% | 54.45% |
* Industrials Sector Average
HK:0694
Beijing Capital International Airport Co
1.85
-0.95
-33.93%
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Yuexiu Transport Infrastructure
4.09
0.81
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Hainan Meilan International Airport Company
6.22
-3.53
-36.21%
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KLN Logistics Group Limited
6.69
0.67
11.13%
HK:3382
Tianjin Port Development Holdings
0.69
0.12
21.05%
HK:0062
Transport International Holdings Limited
10.42
2.19
26.56%
Beijing Capital International Airport Co Corporate Events
Beijing Capital Airport Renews Intra‑Group Hotel Resource Deal at Terminal Three
Apr 24, 2026
Beijing Capital International Airport Co. has signed a new T3E Hotel Resources Usage Agreement with Beijing Airport Tourism Business, a wholly owned subsidiary of its controlling shareholder, to allow continued use of designated premises and resou...
Beijing Capital International Airport Discloses Unaudited Q1 2026 Results for Noteholders
Apr 23, 2026
Beijing Capital International Airport Company Limited, a foreign-invested joint stock company operating Beijing’s main international airport, is a significant player in China’s aviation infrastructure sector. The company’s activi...
Beijing Capital Airport Renews Connected Leasing Deal for Vending Machine Spots
Apr 8, 2026
Beijing Capital International Airport Co. has signed a new spots leasing agreement with Beijing Aviation Catering Co. (BACT), a wholly owned subsidiary of its controlling shareholder, to continue leasing designated locations at Terminals 1, 2 and ...
Beijing Capital Airport Narrows 2025 Loss as Traffic and Revenue Edge Higher
Mar 26, 2026
Beijing Capital International Airport reported modest traffic and revenue growth in 2025, with aircraft movements up 2.0%, passenger throughput rising 5.0% to about 70.7 million, and cargo and mail volumes increasing 7.5%. Total revenue climbed 2....
Beijing Capital Airport Says Operations Stable Amid Unusual Share Movements
Mar 18, 2026
Beijing Capital International Airport Company Limited said its operations remain normal and stable despite recent unusual movements in its share price and trading volume in Hong Kong. The airport operator stressed that its business is progressing ...
Beijing Capital International Airport Seeks Up to RMB8 Billion in Onshore Debt Registration
Mar 17, 2026
Beijing Capital International Airport Company Limited has applied to China’s National Association of Financial Market Institutional Investors to register and issue up to RMB4 billion in medium-term notes and up to RMB4 billion in short-term ...
Beijing Capital International Airport Sees Sharply Narrowed 2025 Net Loss Despite Tax Asset Reversal
Feb 6, 2026
Beijing Capital International Airport Company Limited expects to remain loss-making for the year ended 31 December 2025, but projects a narrower loss before income tax of approximately RMB0.48 billion to RMB0.56 billion, down 11.1% to 23.8% from 2...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.