Cathay Pacific Airways Balance Sheet

Financials in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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
Cash & Equivalents	7,990	5,444	7,894	7,340	8,573
Short-Term Investments	-	5,090	7,636	10,818	10,572
Cash & Short-Term Investments	7,990	10,534	15,530	18,158	19,145
Cash Growth	-24.15%	-32.17%	-14.47%	-5.16%	-0.27%
Accounts Receivable	5,258	4,743	4,487	4,017	3,922
Other Receivables	2,926	2,078	1,512	1,819	2,615
Receivables	8,184	6,821	5,999	5,836	6,537
Inventory	1,864	1,386	967	1,137	1,269
Other Current Assets	4,492	505	253	1,205	1,946
Total Current Assets	22,530	19,246	22,749	26,336	28,897
Property, Plant & Equipment	117,856	116,457	116,088	115,891	121,191
Long-Term Investments	17,317	17,241	16,873	17,332	25,288
Goodwill	11,615	11,615	11,615	11,615	11,615
Other Intangible Assets	2,720	2,789	2,902	3,163	3,412
Long-Term Deferred Tax Assets	1,430	1,152	1,085	1,134	846
Other Long-Term Assets	3,583	2,744	2,803	5,443	5,378
Total Assets	177,051	171,244	174,115	180,914	196,627
Accounts Payable	9,529	7,480	7,397	5,380	4,327
Accrued Expenses	601	785	540	330	271
Current Portion of Long-Term Debt	10,176	7,423	5,719	8,490	16,061
Current Portion of Leases	3,732	4,203	4,804	6,153	6,289
Current Income Taxes Payable	1,282	1,771	2,509	4,023	2,765
Current Unearned Revenue	21,650	18,365	15,223	13,537	7,925
Other Current Liabilities	12,073	10,212	9,301	5,489	5,497
Total Current Liabilities	59,043	50,239	45,493	43,402	43,135
Long-Term Debt	22,249	33,174	33,576	36,676	39,061
Long-Term Leases	22,944	23,675	24,195	25,787	28,443
Long-Term Unearned Revenue	145	197	252	282	478
Pension & Post-Retirement Benefits	-	99	90	75	-
Long-Term Deferred Tax Liabilities	8,671	7,990	7,756	8,117	9,820
Other Long-Term Liabilities	3,882	3,363	2,720	2,766	3,441
Total Liabilities	116,934	118,737	114,082	117,105	124,378
Common Stock	31,123	28,841	19,078	28,822	28,822
Retained Earnings	-	26,437	21,186	13,209	19,724
Comprehensive Income & Other	28,987	-2,778	10,012	2,272	4,198
Total Common Equity	60,110	52,500	50,276	44,303	52,744
Minority Interest	7	7	7	6	5
Shareholders' Equity	60,117	52,507	60,033	63,809	72,249
Total Liabilities & Equity	177,051	171,244	174,115	180,914	196,627
Total Debt	59,101	68,475	68,294	77,106	89,854
Net Cash (Debt)	-51,111	-57,941	-52,764	-58,948	-70,709
Net Cash Per Share	-7.60	-7.85	-7.13	-9.16	-10.98
Filing Date Shares Outstanding	6,723	6,439	6,438	6,437	6,437
Total Common Shares Outstanding	6,723	6,439	6,438	6,437	6,437
Working Capital	-36,513	-30,993	-22,744	-17,066	-14,238
Book Value Per Share	8.94	8.15	7.81	6.88	8.19
Tangible Book Value	45,775	38,096	35,759	29,525	37,717
Tangible Book Value Per Share	6.81	5.92	5.55	4.59	5.86
Land	-	15,528	15,295	15,206	15,191
Machinery	-	173,313	163,771	141,407	142,382
Construction In Progress	-	-	-	-	20

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