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AirAsia Group (AAXBF) fair value: what the stock is really worth

As of Nov 5, 2026: fair value (intrinsic value) of AirAsia Group stock $0.22, price $0.13, upside +71.5%, quality 56 out of 100. Rating: strongly undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.

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Industrials US · Based in Malaysia

AG AirAsia Group logo Thin data Nov 14, 2026

AirAsia Group

AAXBF · US

Cheap (42% below fair value) and solid company.

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Fair value $0.2200 · Strongly undervalued 
Healthy Growth (revenue YoY +2.8 %/yr in MYR) 
Ranks above peers (7/11) 
Even on cautious assumptions the value is 33% above the price ($0.1700). 
Quality 56/100 
Loss over the last twelve months · -4.6% net margin (TTM) · fiscal year 2025 5.3% 
Negative free cash flow over the last twelve months 
Narrow moat 29/100 · thin data
Thin data 
⟳ Cyclical⚠ Thinly traded
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$0.3500 $0.1000 Fair Value $0.2200 Apr 2026 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 14, 2026.

How to read this chart

7‑month range $0.1000 – $0.3500 · fair‑value band $0.1700 – $0.2800 · the $0.1283 price screens below the $0.2200 fair value. As of Nov 14, 2026.

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Company profile

AirAsia Group Berhad, together with its subsidiaries, provides long haul air transportation services under the AirAsia brand in Malaysia, Thailand, and Indonesia. It offers logistical management and marketing services; and leases aircraft facilities, as well as commercial air transport services.

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The company was formerly known as AirAsia X Berhad and changed its name to AirAsia Group Berhad in July 2026. The company was incorporated in 2006 and is headquartered in Kuala Lumpur, Malaysia.

Stock analysis

AirAsia Group (AAXBF) currently trades at $0.1283, while our model-based Fair Value estimate is $0.2200, implying the stock looks roughly 42% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of $0.2850 per share, and 17 of the 24 models we run sit above the $0.1283 price.

Bear case: the Economic Profit group reads lowest at $0.0750, and 7 of the 24 models stay below the price. Data coverage for this calculation is low.

Scenario range: $0.1700 (bear) to $0.2800 (bull), the price of $0.1283 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 56/100 (solid quality), in the Industrials sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

AirAsia Group reported revenue of 3.4B MYR in FY2025 versus 2.5B MYR in FY2023, a compound +15.2%/yr. Reported net income was 179M MYR in FY2025, compounding −26.5%/yr from FY2023.

Key figures

Market cap $431M Small · P/S ratio 0.03 · Net margin 5.3% · Return on assets (EBIT) 6.1% (3-year average) · Operating margin 2.4% · Revenue growth (YoY) +670% · Free cash flow 198M MYR.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (low confidence).

What moves the price

For context, the median of 10 Industrials peers we cover trades at 13% fair-value upside, at 72%, AAXBF screens cheaper than that median.

Fair Value models

Bear $0.1700 Fair Value $0.2200 Bull $0.2800
Price $0.1283 · Upside +71.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCF $0.2000 $0.2900 $0.4100 71
Growth DCF $0.2000 $0.2800 $0.3800 69
EPV $0.0600 $0.0600 $0.0700 68
All 24 models by family
DCF Models
FCF DCF $0.2000 $0.2900 $0.4100 71
Owner Earnings $0.1700 $0.2500 $0.3600 67
5Y Revenue Exit $0.1300 $0.1800 $0.2500 64
5Y EBITDA Exit $0.2100 $0.3400 $0.4900 65
5Y P/E Exit $0.1900 $0.3000 $0.4200 61
10Y Revenue Exit $0.1600 $0.2100 $0.2800 59
10Y EBITDA Exit $0.2000 $0.3100 $0.4400 59
10Y P/E Exit $0.1900 $0.2800 $0.3900 56
Earnings-Based
Graham-Dodd $0.0900 $0.3200 $0.4400 58
Lynch FV $0.0800 $0.1100 $0.1400 56
PEG = 1.0 $0.0800 $0.1100 $0.1400 52
EPV $0.0600 $0.0600 $0.0700 68
Multiples
P/E Multiple $0.2100 $0.2700 $0.3400 63
P/S Multiple $0.1700 $0.2200 $0.2800 58
P/B Multiple $0.1200 $0.1700 $0.2100 55
EV/EBIT $0.1200 $0.1600 $0.2000 63
EV/EBITDA $0.2500 $0.3300 $0.4100 64
EV/Revenue $0.0900 $0.1200 $0.1600 51
Asset-Based
NCAV (Graham) $0.0200 $0.0200 $0.0400 50
Growth DCF
Growth DCF $0.2000 $0.2800 $0.3800 69
Rev-Margin DCF $0.1300 $0.1900 $0.2500 64
Economic Profit
Residual Income $0.0600 $0.0800 $0.1300 62
ROIC Compounder $0.0600 $0.0700 $0.0900 64
Growth Earnings
Growth-Adj P/E $0.1400 $0.2100 $0.2700 61

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Quality Score breakdown

Overall quality 56/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 53
How much profit the company makes from its sales and capital
Quality Growth 41
Are margins and returns getting better?
Cashflow 52
Do the profits arrive as real cash?
Financial strength 27
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 18
How calm the share price moves, does not count
Price momentum 0
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 80
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Airlines · 53 stocks

Beats the industry median on 7/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 56 · Top 25%
Fair Value upside +71.5% · Top 25%
Profitability
Return on assets 5.2% · Above median
Net margin (12 months) −4.6% · Bottom 25%
Operating margin (12 months) 2.4% · Below median
Growth and dividend
Revenue growth (quarter YoY) 669.6% · Top 25%

Valuation Multiplesvs Airlines median · lower = cheaper

P/B 3.47× · Priciest 25%
P/S (12 months) 0.14× · Cheapest 25%
Price / free cash flow (fiscal year) 8.9× · Cheaper than median
EV/EBITDA 1.2× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 47
FUTURE (revenue growth)100 · sector 79
PAST (return on equity)0 · sector 45
HEALTH (low debt)0 · sector 67
DIVIDEND (yield)0 · sector 43

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Airlines stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
InterGlobe Aviation Limited INDIGO ₹5,587 ₹11,831 +112% vs AAXBF
Ryanair Holdings RYA €25.70 €36.70 +43% vs AAXBF
United Airlines Holdings UAL $109.31 $148.87 +36% vs AAXBF
Delta Air Lines, Inc DAL $86.25 $100.66 +17% vs AAXBF
Deutsche Lufthansa AG LHA €8.85 €10.00 +13% vs AAXBF
Singapore Airlines Limited C6L 7.16 SGD 7.89 SGD +10% vs AAXBF
Cathay Pacific Airways Limited 0293 HK$15.20 HK$12.31 −19% vs AAXBF
LATAM Airlines Group LTM $47.32 $37.62 −21% vs AAXBF
China Southern Airlines Company 600029 ¥5.09 ¥3.44 −32% vs AAXBF
Southwest Airlines Co LUV $44.94 $22.81 −49% vs AAXBF

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AirAsia Group: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "AirAsia Group Fair Value". https://www.fairvalue-calculator.com/stock/AAXBF

Frequently asked questions

Is AirAsia Group (AAXBF) overvalued or undervalued?
As of Nov 14, 2026, our model estimates a fair value of $0.2200 versus the last price from Nov 5, 2026 of $0.1283, about +72% upside (undervalued).
What is the fair value of AAXBF?
Our model-based fair value for AirAsia Group is $0.2200 (as of Nov 14, 2026), built from audited fundamentals. Last price (from Nov 5, 2026): $0.1283.
What is the quality score of AAXBF?
AirAsia Group has a Quality Score of 56/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for AirAsia Group (AAXBF)?
Our model-based price target is the fair value of $0.2200 (as of Nov 14, 2026) from 24 valuation models. Cautious scenario $0.1700, optimistic scenario $0.2800. It is a calculation from audited fundamentals, not an analyst target.
What is the AirAsia Group stock forecast for 2026?
Our models put fair value at $0.2200, about +72% upside versus the last price from Nov 5, 2026 of $0.1283 (undervalued). Cautious scenario $0.1700, optimistic scenario $0.2800. The calculation is refreshed regularly with new filings.
What is the intrinsic value of AirAsia Group (AAXBF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For AirAsia Group it is $0.2200 per share (as of Nov 14, 2026), against a price of $0.1283. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is AirAsia Group stock overvalued or undervalued in 2026?
As of Nov 14, 2026, AAXBF trades below its calculated fair value: price $0.1283, fair value $0.2200, a gap of about +72% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AAXBF?
No. The price is what the market pays today ($0.1283); the fair value is what the company's own numbers justify ($0.2200). For AirAsia Group the two are $0.0917 per share apart. That gap is exactly why we show both numbers side by side.
How much is AirAsia Group worth?
The market values AirAsia Group at about $431M (market capitalisation, as of Nov 14, 2026). Per share that is $0.1283; our models calculate a fair value of $0.2200 per share.
What do the bullish and bearish scenarios say about AAXBF?
Our models span a range for AirAsia Group: cautious scenario $0.1700, base $0.2200, optimistic $0.2800 per share (as of Nov 14, 2026, price $0.1283). The range comes from different growth and margin assumptions, not from analyst opinions.
Which stocks are comparable to AirAsia Group?
From the same area (Industrials) we also value Delta Air Lines, Inc, United Airlines Holdings, Ryanair Holdings, InterGlobe Aviation Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is AirAsia Group stock attractive at the current price?
The data as of Nov 14, 2026: price $0.1283, calculated fair value $0.2200 (+72%), Quality Score 56/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of AAXBF calculated?
We run AirAsia Group through 24 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $0.2200 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.9% above its aggregate fair value. AirAsia Group currently trades 42% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of AirAsia Group (AAXBF)?
The latest price we hold is from Nov 5, 2026 and stands at $0.1283. Our model-based fair value is $0.2200, about +72% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with AirAsia Group right now?
The price is below even our cautious bear case ($0.1700). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of AirAsia Group

How large is the market capitalisation of AirAsia Group (AAXBF)?
The market capitalisation of AirAsia Group is $431M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of AirAsia Group (AAXBF)?
The price-to-sales ratio of AirAsia Group is 0.03 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of AirAsia Group (AAXBF)?
The net margin of AirAsia Group is 5.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of AirAsia Group (AAXBF)?
On an EBIT basis the return on assets of AirAsia Group is 6.1% (avg 3y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of AirAsia Group (AAXBF)?
The operating margin of AirAsia Group is 2.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at AirAsia Group (AAXBF)?
Revenue at AirAsia Group is growing +670% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does AirAsia Group (AAXBF) generate?
The free cash flow of AirAsia Group is 198M MYR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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