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One of China's three major state-owned airlines, based in Shanghai with a large domestic and international network.
One of China's three major state-owned airlines, based in Shanghai with a large domestic and international network.
This is the Hong Kong-listed share class of the same airline as the Shanghai listing. Passenger fares on a Shanghai-centered network carry the business, and fuel and aircraft leases, much of it in dollars while fares are in yuan, make the exchange rate a swing factor. State-owned China Eastern Air Holding controls it.
In one line: A Chinese Delta Air Lines by scale, state-owned.
Moat: narrow (regulatory licence, scale). Shanghai hub slots and flag-carrier-tier status give preferential access versus smaller domestic rivals.
Headquarters: Shanghai, China · Founded: 1988 · Employees: 89,277
Size China Eastern Airlines (0670.HK) is a Hong Kong Industrials company (Airlines) with a market value of $10.8B, the 159th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$2.57 on 6 Nov 2026.
Performance Over six months the shares fell 40.1%, against +10.0% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 13.2% over the last twelve months (peer median +11.4%); the operating margin is -4.2% (peer median 7.3%).
Valuation It trades at 1.8× enterprise value to sales against a peer median of 1.1× (5th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 19% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is +0 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 7.8 points below its cost of capital (5.6% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$165B | HK$152B | HK$143B | HK$126B | HK$53.8B |
| Revenue growth | — | +6% | +14% | +134% | — |
| Gross profit | HK$4.17B | HK$7.04B | HK$4.26B | HK$287M | -HK$34.8B |
| EBITDA | HK$24.9B | HK$26.0B | HK$23.2B | HK$19.2B | -HK$15.9B |
| Net income | -HK$3.87B | -HK$2.53B | -HK$4.58B | -HK$9.05B | -HK$43.4B |
| Free cash flow | HK$5.24B | HK$13.2B | HK$16.0B | HK$1.53B | -HK$26.4B |
| Capital expenditure | HK$30.0B | HK$22.6B | HK$17.7B | HK$20.6B | HK$11.6B |
| Total debt | n/a | HK$203B | HK$187B | HK$215B | HK$246B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| China Eastern Airlines 0670.HK | $10.8B | -40% | +13% | -4% | 1.8× | 18.6% |
| Air China 0753.HK | $15.4B | -27% | +11% | -4% | 1.7× | 11.7% |
| China Southern Airlines 1055.HK | $12.3B | -32% | +12% | 0% | 1.9× | n/a |
| Delta Air Lines DAL | $57.4B | +19% | +14% | 7% | 1.0× | 9.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 0670.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.7% | +6.0% | 8th lowest of 21 |
| 6-month return | -40.1% | +10.0% | lowest of 21 |
| Distance from 52-week high | -59.8% | -14.0% | lowest of 21 |
| Revenue growth (TTM) | +13.2% | +11.4% | 9th highest of 21 |
| Operating margin | -4.2% | 7.3% | 2nd lowest of 21 |
| EV / Sales | 1.8× | 1.1× | 5th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 18.6% | -8.5% | 2nd most demanding of 11 |
| Growth delivered (Del g) | +18.1% | +27.9% | lowest of 11 |
| Hurdle (Req g minus delivered) | +0.4 pp | -34.5 pp | most demanding of 11 |
| ROIC minus cost of capital | -7.8 pp | +1.5 pp | lowest of 21 |
| EV / EBITDA | 11.9× | 5.2× | 3rd most expensive of 16 |
| Net debt / EBITDA | 8.5× | 1.8× | 2nd most indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Eastern Airlines 0670.HK | Hong Kong | $10.8B | -40% | +13% | -4% | 1.8× | 18.6% | +18.1% |
| Deutsche Lufthansa LHA.DE | Germany | $11.4B | +7% | +8% | -1% | 0.4× | n/a | n/a |
| Cathay Pacific Airways 0293.HK | Hong Kong | $11.7B | +19% | +20% | 11% | 1.1× | -12.4% | +20.0% |
| Qantas Airways QAN.AX | Australia | $9.79B | +9% | +8% | 7% | 0.8× | n/a | n/a |
| Ana 9202.T | Japan | $9.77B | +24% | +17% | 8% | 0.6× | -10.0% | +28.4% |
| China Southern Airlines 600029.SS | China | $12.2B | -4% | +8% | -3% | 1.6× | n/a | n/a |
| Japan Airlines 9201.T | Japan | $9.08B | +34% | +10% | 8% | 0.6× | -9.7% | +33.1% |
| American Airlines AAL | United States | $8.73B | -1% | +12% | 2% | 0.6× | n/a | n/a |
| LATAM Airlines Group SA Sponsored ADR LTM | United States | $13.8B | -7% | +21% | 14% | 1.2× | -7.2% | +29.3% |
| KAL 003490.KS | South Korea | $7.99B | +20% | +21% | 2% | 1.1× | n/a | n/a |
| Hainan Airlines 600221.SS | China | $7.85B | -20% | +6% | -3% | 2.2× | 5.0% | +18.4% |
| Air China 601111.SS | China | $15.3B | -7% | +9% | -7% | 1.7× | 10.0% | +19.8% |
| Air China Cargo 001391.SZ | China | $7.12B | -21% | +10% | 9% | 1.8× | n/a | n/a |
| Eva Airways 2618.TW | Taiwan | $7.12B | +28% | +6% | 14% | 0.9× | -17.0% | +19.9% |
| easyJet EZJ.L | United Kingdom | $6.96B | +90% | +10% | 5% | 0.5× | 4.8% | +27.4% |
| Singapore Airlines C6L.SI | Singapore | $17.2B | +11% | +5% | 12% | 1.1× | -11.0% | +40.0% |
| Spring Airlines 601021.SS | China | $6.51B | -6% | +16% | 6% | 2.5× | n/a | n/a |
| Copa CPA | United States | $5.87B | +16% | +15% | 19% | 1.8× | n/a | n/a |
| Southwest Airlines LUV | United States | $21.8B | +8% | +14% | 5% | 0.8× | n/a | n/a |
| InterGlobe Aviation INDIGO.NS | India | $22.4B | +22% | +13% | 8% | 2.6× | 25.5% | +42.2% |
| Exchange Income EIF.TO | Canada | $4.77B | +13% | +33% | 11% | 2.5× | n/a | n/a |