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China's largest airline by fleet size and passenger volume, one of the three state-owned major carriers.
China's largest airline by fleet size and passenger volume, one of the three state-owned major carriers.
Same company as the Shanghai-listed A shares. Earns from ticket sales, with domestic flights the larger share, and from air cargo. It belongs to the SkyTeam alliance, and the central-government-owned China Southern Air Holding group controls it.
In one line: A Chinese American Airlines by scale, state-owned.
Moat: narrow (regulatory licence, scale). Largest domestic route network and fleet among Chinese carriers, anchored at Guangzhou hub.
Headquarters: Guangzhou, China · Founded: 1995 · Employees: 108,176
Size China Southern Airlines (1055.HK) is a Hong Kong Industrials company (Airlines) with a market value of $12.3B, the 138th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$2.98 on 6 Nov 2026.
Performance Over six months the shares fell 31.7%, against +9.1% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 12.3% over the last twelve months (peer median +11.4%); the operating margin is -0.5% (peer median 7.3%).
Valuation It trades at 1.9× enterprise value to sales against a peer median of 1.1× (4th most expensive of 21).
Capital Return on invested capital runs 5.8 points below its cost of capital (5.5% WACC).
Next results Next results expected around 30 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$213B | HK$198B | HK$189B | HK$177B | HK$101B |
| Revenue growth | — | +5% | +7% | +75% | — |
| Gross profit | HK$16.7B | HK$22.0B | HK$18.4B | HK$16.7B | -HK$20.0B |
| EBITDA | HK$35.2B | HK$39.6B | HK$33.0B | HK$30.9B | -HK$4.06B |
| Net income | -HK$1.60B | HK$927M | -HK$1.92B | -HK$4.57B | -HK$38.0B |
| Free cash flow | -HK$730M | HK$16.9B | HK$10.9B | HK$25.5B | -HK$16.3B |
| Capital expenditure | HK$36.6B | HK$19.3B | HK$17.6B | HK$12.6B | HK$13.6B |
| Total debt | n/a | HK$266B | HK$238B | HK$225B | HK$241B |
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 Southern Airlines 1055.HK | $12.3B | -32% | +12% | 0% | 1.9× | n/a |
| Air China 0753.HK | $15.4B | -27% | +11% | -4% | 1.7× | 11.7% |
| China Eastern Airlines 0670.HK | $10.8B | -40% | +13% | -4% | 1.8× | 18.6% |
| American Airlines AAL | $8.73B | -1% | +12% | 2% | 0.6× | n/a |
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 | 1055.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.6% | +5.8% | 7th lowest of 21 |
| 6-month return | -31.7% | +9.1% | 2nd lowest of 21 |
| Distance from 52-week high | -54.9% | -13.5% | 2nd lowest of 21 |
| Revenue growth (TTM) | +12.3% | +11.4% | 11th highest of 21 |
| Operating margin | -0.5% | 7.3% | 5th lowest of 21 |
| EV / Sales | 1.9× | 1.1× | 4th most expensive of 21 |
| ROIC minus cost of capital | -5.8 pp | +3.0 pp | 3rd lowest of 21 |
| EV / EBITDA | 11.5× | 5.2× | 4th most expensive of 17 |
| Net debt / EBITDA | 8.0× | 1.6× | 4th most indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Southern Airlines 1055.HK | Hong Kong | $12.3B | -32% | +12% | 0% | 1.9× | n/a | n/a |
| Cathay Pacific Airways 0293.HK | Hong Kong | $11.7B | +19% | +20% | 11% | 1.1× | -12.4% | +20.0% |
| Deutsche Lufthansa LHA.DE | Germany | $11.4B | +7% | +8% | -1% | 0.4× | n/a | n/a |
| LATAM Airlines Group SA Sponsored ADR LTM | United States | $13.8B | -7% | +21% | 14% | 1.2× | -7.2% | +29.3% |
| China Eastern Airlines 0670.HK | Hong Kong | $10.8B | -40% | +13% | -4% | 1.8× | 18.6% | +18.1% |
| Air China 601111.SS | China | $15.3B | -7% | +9% | -7% | 1.7× | 10.0% | +19.8% |
| 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% |
| Japan Airlines 9201.T | Japan | $9.08B | +34% | +10% | 8% | 0.6× | -9.7% | +33.1% |
| Singapore Airlines C6L.SI | Singapore | $17.2B | +11% | +5% | 12% | 1.1× | -11.0% | +40.0% |
| American Airlines AAL | United States | $8.73B | -1% | +12% | 2% | 0.6× | n/a | n/a |
| 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 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% |
| Southwest Airlines LUV | United States | $21.8B | +8% | +14% | 5% | 0.8× | n/a | n/a |
| easyJet EZJ.L | United Kingdom | $6.96B | +90% | +10% | 5% | 0.5× | 4.8% | +27.4% |
| InterGlobe Aviation INDIGO.NS | India | $22.4B | +22% | +13% | 8% | 2.6× | 25.5% | +42.2% |
| Spring Airlines 601021.SS | China | $6.51B | -6% | +16% | 6% | 2.5× | n/a | n/a |
| International Consolidated Airlines IAG.L | United Kingdom | $25.3B | +9% | +4% | 14% | 0.8× | -3.9% | +32.4% |
| Copa CPA | United States | $5.87B | +16% | +15% | 19% | 1.8× | n/a | n/a |