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China Eastern Airlines Corporation Limited Balance Sheet 2021-2011 | CEA
Brief overview of China Eastern Airlines Corporation Limited's balance sheet strength
The review uses the five latest available annual reports between 2015 and 2019.
The balance sheet expanded from 198 billion CNY to 285.2 billion CNY. Growth of +44% and CAGR of 9.6% look measured and sustainable.
Liability growth of +34.5% trailed asset growth of +44%. The funding structure became more resilient.
The equity ratio is 25.5% versus 20.2% five periods ago. Capitalization remains workable.
Net debt equals about 1.5x of equity. The burden is manageable, but further growth would warrant attention.
Overall assessment
China Eastern Airlines Corporation Limited shows a high-quality balance sheet profile, with adequate internal capital and room for maneuver.
Annual Balance Sheet China Eastern Airlines Corporation Limited
| 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
85.5 B | 88.6 B | 109 B | 25.2 B | 20.1 B | 26.2 B | 55.4 B | 57.8 B | 46.1 B | 43.2 B | 37.9 B |
Long Term Debt |
82.1 B | 82.2 B | 94.7 B | 25.9 B | 24.7 B | 27.9 B | 28.5 B | 30.5 B | 27.3 B | 23.1 B | 23.6 B |
Long Term Debt Current |
16.4 B | 14.1 B | 15.6 B | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
146 B | 126 B | 134 B | 104 B | 90.6 B | 91.9 B | 83.7 B | 72.9 B | 58.4 B | 50.6 B | 49.5 B |
Total Liabilities |
- | - | 213 B | 177 B | 171 B | 160 B | 158 B | 134 B | 111 B | 99.3 B | 92.9 B |
Deferred Revenue |
- | 3.67 B | 11.3 B | 9.32 B | 8.93 B | 9.41 B | 7.74 B | 5.93 B | 4.31 B | 3.77 B | 3.2 B |
Retained Earnings |
- | - | - | - | - | 8.78 B | 5.17 B | 815 M | -2.59 B | -5.43 B | -8.38 B |
Total Assets |
289 B | 285 B | 285 B | 239 B | 230 B | 212 B | 198 B | 166 B | 140 B | 124 B | 115 B |
Cash and Cash Equivalents |
13 B | 7.65 B | 1.35 B | 646 M | 4.6 B | 1.7 B | - | - | - | - | - |
Book Value |
289 B | 285 B | 72.6 B | 61.6 B | 58.8 B | 52.4 B | 39.9 B | 31.8 B | 28.6 B | 24.6 B | 21.8 B |
Total Shareholders Equity |
57.2 B | 59.2 B | 72.6 B | 59.8 B | 58.8 B | 52.4 B | 39.9 B | - | - | - | - |
All numbers in CNY currency
Quarterly Balance Sheet China Eastern Airlines Corporation Limited
| 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
- | - | - | - | 82.1 B | - | - | - | 82.2 B | - | - | - | 94.7 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | 146 B | - | - | - | 126 B | - | - | - | 134 B | - | - | - | 104 B | - | - | - | 90.6 B | - | - | - | 91.9 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
- | - | - | - | - | - | - | - | - | - | - | - | 213 B | - | - | - | 177 B | - | - | - | 171 B | - | - | - | 160 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
- | - | - | - | 289 B | - | - | - | 285 B | - | - | - | 285 B | - | - | - | 239 B | - | - | - | 230 B | - | - | - | 212 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
- | - | - | - | 13 B | - | - | - | 7.65 B | - | - | - | 1.35 B | - | - | - | 646 M | - | - | - | 4.6 B | - | - | - | 1.7 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
- | - | - | - | 289 B | - | - | - | 285 B | - | - | - | 72.6 B | - | - | - | 61.6 B | - | - | - | 58.8 B | - | - | - | 52.4 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
- | - | - | - | 57.2 B | - | - | - | 59.2 B | - | - | - | 72.6 B | - | - | - | 59.8 B | - | - | - | 58.8 B | - | - | - | 52.4 B | - | - | - | 39.9 B | - | - | - | 31.8 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in CNY currency
Balance Sheet is a fundamental financial report of China Eastern Airlines Corporation Limited, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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