ANA Holdings Inc. (9202) AI Stock Analysis

• Market Cap: ¥1.34T
• Dividend Yield: 2.11%
• Average Volume (3M): 1.57M
• Price to Earnings (P/E): 8.8
• Beta (1Y): 0.48
• Revenue Growth: 10.02%
• EPS Growth: -2.91%
• Country: JP
• Employees: 41,225
• Sector: Industrials
• Sector Strength: 93
• Industry: Airlines, Airports & Air Services
• EPS (TTM): 40.42
• Shares Outstanding: 484,293,550
• 10 Day Avg. Volume: 1,404,580
• 30 Day Avg. Volume: 1,573,316
• PEG Ratio: -1.90
• Price to Book (P/B): 1.30
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 8.74
• 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: ¥3,450.00
• Price Target Upside: 21.44% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 72 Outperform
• Price Target: ¥3,151.00 ▲(10.91%Upside)

ANA Holdings Inc.'s overall score is driven by strong financial recovery and attractive valuation metrics. The company's recovery in revenue and profitability margins, coupled with a stable balance sheet, underpin its financial strength. Technical analysis supports a moderately bullish outlook, enhancing the stock's appeal. While leverage remains a concern, the positive trajectory in cash flows and equity provides a solid foundation for future growth.

ANA Holdings Inc. Business Overview & Revenue Model

Company Description

ANA Holdings Inc. is a prominent Japanese aviation group, primarily recognized for its subsidiary All Nippon Airways (ANA), which is one of Japan's largest airlines. The company operates in the aviation and transportation sectors, offering domestic and international passenger services, cargo transportation, and ancillary services such as travel packages and airport support operations. Additionally, ANA Holdings is involved in aircraft maintenance, in-flight services, and airline-related businesses, encompassing a comprehensive suite of travel and logistics solutions.

How the Company Makes Money

ANA Holdings Inc. generates revenue through several key streams. The primary source of income is its passenger airline services, which include both domestic and international flight operations. Ticket sales, both economy and premium classes, constitute the bulk of this revenue. The company also earns from cargo transportation services, leveraging its extensive network to provide freight solutions. Ancillary revenues are generated through additional services such as in-flight sales, baggage fees, and travel package offerings. Furthermore, ANA Holdings benefits from partnerships with other airlines through code-sharing agreements, which expand its reach and enhance passenger convenience. The company also engages in various airline-related businesses, including aircraft maintenance services and airport ground handling, contributing to its diversified revenue model.

ANA Holdings Inc. Financial Statement Overview

Summary

Income Statement

Balance Sheet

Cash Flow

Breakdown
TTM	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement		Total Revenue
2.22T	2.06T	1.71T	1.02T	728.68B	1.97T
	Gross Profit
381.81B	413.67B	303.92B	-29.09B	-271.32B	390.78B
	EBIT
168.96B	207.91B	120.03B	-173.13B	-464.77B	60.81B
	EBITDA
317.62B	352.34B	270.42B	9.59B	-350.22B	240.55B
	Net Income Common Stockholders
142.18B	157.10B	89.48B	-143.63B	-404.62B	27.66B
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
1.22T	1.26T	1.18T	950.99B	984.83B	261.47B
	Total Assets
3.58T	3.57T	3.37T	3.22T	3.21T	2.56T
	Total Debt
1.36T	1.48T	1.61T	1.75T	1.66T	842.86B
	Net Debt
897.39B	883.14B	1.00T	1.30T	1.19T	733.41B
	Total Liabilities
2.43T	2.52T	2.50T	2.42T	2.20T	1.49T
	Stockholders Equity
1.14T	1.04T	862.42B	797.25B	1.01T	1.06T
Cash Flow		Free Cash Flow
152.65B	180.15B	332.93B	-209.78B	-427.15B	-221.19B
	Operating Cash Flow
360.85B	420.62B	449.82B	-76.41B	-270.44B	130.17B
	Investing Cash Flow
-481.27B	-399.52B	-204.03B	230.02B	-595.76B	-230.22B
	Financing Cash Flow
-205.46B	-136.04B	-142.91B	93.65B	1.10T	23.87B

ANA Holdings Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2841.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9202, the sentiment is Positive. The current price of 2841 is below the 20-day moving average (MA) of 2848.90, above the 50-day MA of 2778.14, and above the 200-day MA of 2827.78, indicating a bullish trend. The MACD of 18.64 indicates Positive momentum. The RSI at 56.81 is Neutral, neither overbought nor oversold. The STOCH value of 62.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9202.

ANA Holdings Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9201	78 Outperform	$1.31T	12.02	11.26%	3.26%	11.64%	12.12%
9147	73 Outperform	¥709.30B	22.11		3.67%	14.34%	33.50%
9202	72 Outperform	¥1.34T	8.79		2.11%	10.02%	-2.91%
9706	71 Outperform	$420.98B	14.95	15.24%	1.88%	24.06%	42.99%
Sector *	66 Neutral	$4.49B	12.28	5.32%	248.53%	4.08%	-12.00%
9206	62 Neutral	¥8.21B	4.12		―	7.20%	104.01%

ANA Holdings Inc. Corporate Events

ANA Holdings Supports JAL’s Shareholder Proposal at AGP

ANA Holdings Inc. has announced its agreement with the shareholder proposal from Japan Airlines Co., Ltd. regarding share consolidation at AGP Corporation. ANA will exercise its voting rights at AGP’s general meeting to support this initiative, indicating a strategic alignment with JAL’s proposal, which may influence AGP’s corporate governance and shareholder structure.

The most recent analyst rating on (JP:9202) stock is a Hold with a Yen3550.00 price target. To see the full list of analyst forecasts on ANA Holdings Inc. stock, see the JP:9202 Stock Forecast page.

ANA Holdings Board Opposes Shareholder Proposal on Articles Amendment

ANA Holdings Inc. announced its Board of Directors’ decision to oppose a shareholder proposal submitted by LIM Japan Event Master Fund. The proposal, which was to be discussed at the upcoming Annual General Meeting, suggested amendments to the Articles of Incorporation regarding director appointments and disclosure of joint holdings. The Board opposed these changes, arguing that current practices already ensure appropriate director selection and compliance with legal requirements, thus maintaining operational flexibility and transparency.

The most recent analyst rating on (JP:9202) stock is a Hold with a Yen3550.00 price target. To see the full list of analyst forecasts on ANA Holdings Inc. stock, see the JP:9202 Stock Forecast page.

ANA Holdings to Finalize Nippon Cargo Airlines Acquisition by July 2025

ANA Holdings Inc. has announced an amendment to its share exchange agreement with Nippon Cargo Airlines Co., Ltd., changing the effective date to July 1, 2025. This strategic move will make Nippon Cargo Airlines a wholly-owned subsidiary, allowing ANA Holdings to consolidate its financial statements starting from the second quarter of the fiscal year ending March 2026, potentially impacting future business results.

The most recent analyst rating on (JP:9202) stock is a Hold with a Yen3550.00 price target. To see the full list of analyst forecasts on ANA Holdings Inc. stock, see the JP:9202 Stock Forecast page.

ANA Holdings Increases Dividends Following Strong Fiscal Performance

ANA Holdings Inc. has announced an increase in dividends for the fiscal year ended March 31, 2025, due to net profits exceeding forecasts. The dividend per share is set to rise from 50 JPY to 60 JPY, reflecting the company’s commitment to returning value to shareholders while ensuring long-term financial health.

ANA Holdings Introduces Bond-Type Class Shares for Enhanced Financial Flexibility

ANA Holdings Inc. plans to amend its Articles of Incorporation to introduce Bond-Type Class Shares as a new financing option. This move aims to enhance financial flexibility and support growth investments without diluting existing shareholders’ voting rights. The Bond-Type Class Shares, which have characteristics of both shares and bonds, will be listed on the Tokyo Stock Exchange, offering investment opportunities to a broader range of investors.

ANA Holdings Proposes Amendments to Strengthen Financial Flexibility

ANA Holdings Inc. announced a proposal to amend its Articles of Incorporation to introduce Bond-Type Class Shares, aimed at strengthening its financial foundation and supporting growth investments. This move is part of their strategy to balance growth investment, financial soundness, and capital efficiency, while maintaining shareholder interests by minimizing equity cost and avoiding dilution of voting rights.

ANA Holdings to Finalize Nippon Cargo Airlines Acquisition

ANA Holdings Inc. has announced an amendment to its agreement to make Nippon Cargo Airlines Co., Ltd. a wholly owned subsidiary through a simplified share exchange. The effective date of this exchange has been postponed to May 23, 2025, due to the time required for regulatory review by authorities, particularly in China. This strategic move is expected to consolidate ANA’s financial statements starting from the fiscal year ending March 2026, potentially impacting its business results, which are currently under review.

ANA Holdings Receives Shareholder Proposal for Articles Amendment

ANA Holdings Inc. has received a shareholder proposal from LIM Japan Event Master Fund, suggesting amendments to the company’s Articles of Incorporation. The proposal will be reviewed by the company, and the board’s opinion will be shared after deliberation, potentially impacting the company’s governance and shareholder relations.

ANA Holdings to Finalize Nippon Cargo Airlines Acquisition by May 2025

ANA Holdings Inc. announced an amendment to its share exchange agreement with Nippon Cargo Airlines Co., Ltd., changing the effective date to May 1, 2025. This strategic move will make Nippon Cargo Airlines a wholly-owned subsidiary, allowing ANA to consolidate its balance sheet and income statement from the fiscal year ending March 2026, potentially impacting its financial results.