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ANA Holdings Inc.

9202.TIndustrialsTSE

Airlines

PriceMA150MA200
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Financials · Annual
Revenue
$2.26T
+10.0% YoY
Net Income
$153.03B
-2.6% YoY
EBITDA
$370.58B
-0.5% YoY
Free Cash Flow
$17.08B

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About ANA Holdings Inc.

ANA Holdings Inc., together with its subsidiaries, provides air transportation services in Japan and internationally. The company carries a $1.34T market cap, placing it firmly in the mega-cap category. It operates through Aviation Business, Aviation related business, Travel business, and Trading company business segments.

Key stats
Market Cap$1.34T
P/E (TTM)9.33
Fwd P/E6.16
EPS$321.21
Beta0.44
52W Change+1.0%
Dividend Yield2.08%
ROE12.9%
Analysis

ANA Holdings Inc. holds $1.26T in cash against $1.17T in total debt, giving it a net cash position. This means the company could theoretically pay off all its debt and still have cash remaining. Annual free cash flow of $17.08B supports ongoing capital allocation decisions and provides a cushion against unexpected expenses or downturns. ROE of 12.9% points to decent capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. ROA of 3.6% is on the lower side, which is common in asset-heavy industries. Revenue has grown from $1.02T (2022) to $2.26T (2025), reflecting a 122% increase over the period.

The relatively low beta of 0.44 suggests 9202.T is a less volatile holding compared to the broader index. These risk factors are not exhaustive — macroeconomic shifts, regulatory changes, and competitive dynamics can all influence ANA Holdings Inc.'s trajectory.

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