Air China (FRA:AD2) Shiller PE Ratio: (As of Sep. 21, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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FRA:AD2 Air China Ltd FRA:AD2
56 GF Score
Price €0.40
GF Value €0.59
Valuation Possible Value Trap
! 3 Warning Signs
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What is Air China Shiller PE Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Air China  (FRA:AD2) Shiller PE Ratio Explanation

Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Shiller PE Ratio should give similar results to regular PE Ratio.

Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.


Be Aware

Shiller PE Ratio assumes that over the long term, businesses and profitability revert to their means. If a company's business model does not work in the future compared with the past, Shiller PE Ratio and PS Ratio will give false valuations.


Air China Shiller PE Ratio Related Terms


Air China Shiller PE Ratio Historical Data

* Premium members only.

The historical data trend for Air China's Shiller PE Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Air China Shiller PE Ratio Chart

Air China Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Shiller PE Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 26.42 - - - -

Air China Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Shiller PE Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - - -

FRA:AD2 vs DAL, UAL, LUV: Shiller PE Ratio Comparison

For the Airlines subindustry, Air China's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Air China Shiller PE Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, Air China's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Air China's Shiller PE Ratio falls into.


FRA:AD2
56GF Score
Air China Ltd FRA:AD2
Shiller PE Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Air China Shiller PE Ratio Calculation

For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller PE Ratio is also called PE10.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Air China's E10 for the quarter that ended in Jun. 2026 is calculated as:

For example, Air China's adjusted earnings per share data for the three months ended in Jun. 2026 was:

Adj_EPS=Earnings per Share (Diluted)/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=-0.0288/121.3631*121.3631
=-0.029

Current CPI (Jun. 2026) = 121.3631.

Air China Quarterly Data

Earnings per Share (Diluted) CPI Adj_EPS
201609 0.039 102.565 0.046
201612 -0.004 103.225 -0.005
201703 0.015 103.335 0.018
201706 0.017 103.664 0.020
201709 0.044 103.994 0.051
201712 -0.009 104.984 -0.011
201803 0.023 105.973 0.027
201806 0.008 106.193 0.009
201809 0.030 106.852 0.034
201812 0.004 107.622 0.004
201903 0.025 108.172 0.027
201906 0.004 109.601 0.004
201909 0.032 110.260 0.035
201912 -0.003 110.700 -0.003
202003 -0.043 110.920 -0.047
202006 -0.041 110.590 -0.045
202009 -0.006 107.512 -0.006
202012 -0.038 109.711 -0.041
202103 -0.055 111.579 -0.060
202106 -0.005 111.360 -0.006
202109 -0.032 109.051 -0.036
202112 -0.060 112.349 -0.064
202203 -0.086 113.558 -0.092
202206 -0.103 113.448 -0.110
202209 -0.087 113.778 -0.092
202212 -0.100 114.548 -0.106
202303 -0.026 115.427 -0.027
202306 -0.004 115.647 -0.004
202309 0.033 116.087 0.035
202312 -0.015 117.296 -0.015
202403 -0.013 117.735 -0.013
202406 -0.009 117.296 -0.009
202409 0.032 118.615 0.032
202412 -0.012 118.945 -0.012
202503 -0.015 119.384 -0.016
202506 0.002 119.055 0.002
202509 0.025 119.934 0.026
202512 -0.025 120.704 -0.025
202603 0.012 121.473 0.012
202606 -0.029 121.363 -0.029

Add all the adjusted EPS together and divide 10 will get our E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Air China (FRA:AD2) Overvalued in 2026?

Based on GuruFocus' analysis, Air China stock appears to be undervalued. The current stock price of €0.40 is trading 32.6% below its estimated GF Value™ of €0.59. GuruFocus considers Air China to be Possible Value Trap.

Key valuation signals for FRA:AD2:

  • Shiller PE Ratio:
  • GF Value™: €0.59 vs. price of €0.40 (32.6% below fair value)
  • GF Score™: 56/100 with 3 warning signs

No single metric tells the full story. See the FRA:AD2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Air China Business Description

Address 12 Tung Fai Road, 5th Floor, CNAC House, Hong Kong International Airport, Hong Kong, HKG
Air China Ltd is based in Beijing and principally provides airline and related services, which include aircraft engineering and airport ground handling. The majority of the company's revenue comes from airline operations, with a smaller portion generated from rental income. Company has two segments (a) The airline operations segment which mainly comprises the provision of air passenger and air cargo services; and (b) The other operations segment which comprises the provision of aircraft engineering and other airline-related services. Geographically, majority of its revenue is derived from Mainland China followed by International segment and Hong Kong SAR, Macau SAR and Taiwan.
56GF Score

Get the complete analysis for FRA:AD2

Shiller PE Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€0.40
Price
€0.59
GF Value