Air Arabia PJSC Ratios and Metrics

Market cap in millions AED. Fiscal year is January - December.

Millions AED. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb '26 Feb 24, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	25,947	21,747	14,373	13,160	10,033	6,767
Market Cap Growth	75.95%	51.30%	9.22%	31.16%	48.28%	13.28%
Enterprise Value	23,531	18,570	11,598	10,621	8,245	7,304
Last Close Price	5.56	4.66	2.86	2.44	1.74	1.11
PE Ratio	15.93	13.35	9.80	8.51	8.21	9.40
Forward PE	14.79	12.43	9.68	8.24	11.32	18.13
PS Ratio	3.33	2.79	2.12	2.19	1.91	2.13
PB Ratio	3.09	2.59	1.81	1.75	1.43	1.11
P/TBV Ratio	3.68	3.09	2.18	2.13	1.77	1.43
P/FCF Ratio	48.70	40.82	8.46	6.83	5.19	3.57
P/OCF Ratio	9.07	7.60	6.31	5.71	4.59	3.47
PEG Ratio	-	1.56	1.56	1.56	1.56	1.56
EV/Sales Ratio	3.02	2.38	1.71	1.77	1.57	2.30
EV/EBITDA Ratio	11.33	10.86	6.88	6.01	5.12	6.22
EV/EBIT Ratio	16.12	14.63	9.80	8.57	7.66	11.36
EV/FCF Ratio	44.16	34.85	6.83	5.51	4.27	3.85
Debt / Equity Ratio	0.33	0.33	0.26	0.30	0.41	0.54
Debt / EBITDA Ratio	1.47	1.47	1.15	1.21	1.69	2.60
Debt / FCF Ratio	5.22	5.22	1.24	1.18	1.50	1.73
Net Debt / Equity Ratio	-0.29	-0.29	-0.40	-0.39	-0.26	-0.10
Net Debt / EBITDA Ratio	-1.41	-1.41	-1.91	-1.68	-1.15	-0.51
Net Debt / FCF Ratio	-4.54	-4.54	-1.89	-1.54	-0.96	-0.32
Asset Turnover	0.47	0.47	0.45	0.41	0.38	0.25
Inventory Turnover	80.91	80.91	101.84	106.63	135.47	93.38
Quick Ratio	0.99	0.99	1.34	1.38	1.43	1.34
Current Ratio	1.10	1.10	1.46	1.51	1.52	1.47
Return on Equity (ROE)	19.91%	19.91%	18.95%	21.30%	18.70%	13.61%
Return on Assets (ROA)	4.80%	4.80%	4.93%	5.32%	4.85%	3.10%
Return on Invested Capital (ROIC)	20.92%	21.06%	23.22%	25.50%	20.29%	11.62%
Return on Capital Employed (ROCE)	10.50%	10.50%	10.70%	11.70%	10.00%	6.30%
Earnings Yield	6.28%	7.49%	10.21%	11.76%	12.18%	10.64%
FCF Yield	2.05%	2.45%	11.82%	14.64%	19.25%	28.02%
Dividend Yield	4.50%	-	8.74%	8.19%	8.63%	7.64%
Payout Ratio	71.69%	71.69%	63.62%	45.25%	32.47%	-
Total Shareholder Return	4.55%	-	8.74%	8.19%	8.63%	7.64%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.