As of May 25, 2025, Air Partner PLC has a Discounted Cash Flow (DCF) derived fair value of $206.41 per share. With the current market price at $124.50, this represents a potential upside of 65.8%.
| Key Metrics | Value |
|---|---|
| DCF Fair Value (5-year) | $189.89 |
| DCF Fair Value (10-year) | $206.41 |
| Potential Upside (5-year) | 52.5% |
| Potential Upside (10-year) | 65.8% |
| Discount Rate (WACC) | 7.2% - 9.9% |
Revenue is projected to grow from $71 million in 01-2021 to $116 million by 01-2031, representing a compound annual growth rate of approximately 5.0%.
| Fiscal Year | Revenue (USD millions) | Growth |
|---|---|---|
| 01-2021 | 71 | 7% |
| 01-2022 | 77 | 8% |
| 01-2023 | 84 | 10% |
| 01-2024 | 88 | 5% |
| 01-2025 | 90 | 2% |
| 01-2026 | 92 | 2% |
| 01-2027 | 97 | 5% |
| 01-2028 | 100 | 3% |
| 01-2029 | 105 | 5% |
| 01-2030 | 110 | 5% |
| 01-2031 | 116 | 6% |
Net profit margin is expected to improve from 8% in 01-2021 to 8% by 01-2031, driven by operational efficiency and economies of scale.
| Fiscal Year | Net Profit (USD millions) | Profit Margin |
|---|---|---|
| 01-2021 | 6 | 8% |
| 01-2022 | 6 | 8% |
| 01-2023 | 7 | 8% |
| 01-2024 | 7 | 8% |
| 01-2025 | 7 | 8% |
| 01-2026 | 7 | 8% |
| 01-2027 | 8 | 8% |
| 01-2028 | 8 | 8% |
| 01-2029 | 8 | 8% |
| 01-2030 | 9 | 8% |
| 01-2031 | 9 | 8% |
with a 5-year average of $1 million. Projected CapEx is expected to maintain at approximately 1% of revenue.
Depreciation is based on an average useful life of 5 years for capital assets.
| Fiscal Year | D&A (USD millions) |
|---|---|
| 01-2022 | 1 |
| 01-2023 | 1 |
| 01-2024 | 1 |
| 01-2025 | 1 |
| 01-2026 | 1 |
| 01-2027 | 1 |
Net working capital is expected to increase gradually, with projected changes affecting free cash flow.
| Components | Average Days |
|---|---|
| Days Receivables | 38 |
| Days Inventory | 0 |
| Days Payables | 44 |
| Fiscal Year | EBITDA | Tax | CapEx | Change in NWC | FCF |
|---|---|---|---|---|---|
| 6M/2022 | 5 | 1 | 0 | 1 | 2 |
| 2023 | 11 | 3 | 1 | 1 | 6 |
| 2024 | 12 | 3 | 1 | (1) | 8 |
| 2025 | 12 | 3 | 1 | 1 | 7 |
| 2026 | 12 | 4 | 1 | 0 | 8 |
| Valuation Method | Fair Price (USD) | Potential Upside |
|---|---|---|
| 5-Year DCF (Growth) | 189.89 | 52.5% |
| 10-Year DCF (Growth) | 206.41 | 65.8% |
| 5-Year DCF (EBITDA) | 140.90 | 13.2% |
| 10-Year DCF (EBITDA) | 169.53 | 36.2% |
Is Air Partner PLC (AIR.L) a buy or a sell? Air Partner PLC is definitely a buy. Based on our DCF analysis, Air Partner PLC (AIR.L) appears to be significantly undervalued with upside potential of 65.8%. The company's strong projected growth in revenue and profitability, coupled with consistent capital expenditure, supports our positive outlook on its intrinsic value.
Key investment drivers include:
Investors should consider a strong buy at the current market price of $124.50.