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Thai Airways International Public Company Limited (THAI.BK)

THB6.05 +0.05 (+0.83%)
TH SET Industrials Airlines, Airports & Air Services
Address 89 Vibhavadi Rangsit Road 10900
Bangkok, TH
CEO Chai Eamsiri
IPO 2000-01-04
ISIN TH0245010002

Explore sections of this company profile

Also trades on Other OTC · TAWNF (USD) Stock Exchange of Thailand · THAI.BK (THB)
Description

Thai Airways International Public Company Limited, alongside its subsidiary companies, primarily operates an airline enterprise. Its business is divided into three key segments: Air Transportation Activities, Business Units, and Other Activities. The Air Transportation segment is dedicated to delivering services for passengers, freight, and postal deliveries. The Business Units segment covers commercial cargo and mail operations, ground-based customer support, maintenance of ground support equipment, and catering provisions. The Other Activities segment involves various auxiliary transportation services, including flight management, the sale of duty-free products, and souvenir merchandising. Furthermore, the company offers aviation training, tourism assistance, specialized staffing, and information technology solutions for the travel sector. The organization was established in 1959 and maintains its head office in Bangkok, Thailand.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
THB6.05 +0.05 (+0.83%)
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Volume Profile
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Liquidity & share structure
Average Volume
83M
Beta
0.12
Float Shares
6.51B
Free Float %
23.0%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-0.83% -2.46% -5.56% -14.39% -36.70% -14.39% +79.22% +79.22% +79.22% +79.22% +79.22%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
6.05
DCF (Unlevered) 8.37 +38.3%
DCF (Levered) 8.88 +46.8%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 47% Bullish
Rating 2026-05 Change
Strong Buy 1 0
Buy 6 -2
Hold 6 +1
Sell 1 0
Strong Sell 1 0
Quality scores
Altman Z-Score
1.91
Grey zone
Piotroski F-Score
4 / 9
Average
MOAT Score
4 / 10
Developing
Composite Rating
A
Overall Score
4 / 5
High
DCF Score
4 / 5
High
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
1 / 5
Low
P/E Score
4 / 5
High
P/Book Score
3 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Airlines, Airports & Air Services: +6.5%
    -2.0% Q1'26: -1.2% (vs Q1'25)
  • EPS growth Airlines, Airports & Air Services: +12.5%
    +117.4% Q1'26: -84.2% (vs Q1'25)
  • FCF margin FCF growth · Airlines, Airports & Air Services: -2.8%
    +10.4% Q1'26: +14.9% (vs Q1'25)
  • EBIT margin Airlines, Airports & Air Services: +10.3%
    +23.6% Q1'26: +29.9% (vs Q1'25)
  • ROIC Airlines, Airports & Air Services: +6.0%
    +25.8% Q1'26: +47.6% (vs Q1'25)
  • Share dilution Airlines, Airports & Air Services: +0.0%
    +557.4% Q1'26: +557.4% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Airlines, Airports & Air Services: 1.43×
    3.25× Q1'26: 1.61× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (-0.10) × ERP
WACC = 48% × Ke + 52% × Kd (7.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 8.48 Current price: 6.05
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
6 Rev. Ana.
4 EPS Ana.
Dec 2027
13 Rev. Ana.
12 EPS Ana.
Dec 2028
7 Rev. Ana.
6 EPS Ana.
Revenue
182.73B
est: 182.32B (+0.2%)
178.31B
est: 178.54B (-0.1%)
189.86B
est: 189.49B (+0.2%)
195.97B
est: 198.88B (-1.5%)
180.28B
est: 183.41B (-1.7%)
47.72B
est: 116.57B (-59.1%)
21.57B
est: 146.68B (-85.3%)
103.87B
est: 162.50B (-36.1%)
157.45B
est: 182.23B (-13.6%)
187.25B
est: 182.23B (+2.8%)
183.44B
est: 185.56B (-1.1%)
190.78B
182.61B – 203.93B
+2.8% YoY
201.03B
191.08B – 217.65B
+5.4% YoY
212.37B
209.06B – 215.68B
+5.6% YoY
EBITDA
10.78B
est: 20.82B (-48.2%)
24.59B
est: 20.39B (+20.6%)
19.01B
est: 21.64B (-12.2%)
11.98B
est: 22.71B (-47.3%)
10.96B
est: 20.95B (-47.7%)
-99.69B
est: 13.31B (-848.8%)
74.49B
est: 16.75B (+344.7%)
20.89B
est: 18.56B (+12.5%)
53.80B
est: 20.81B (+158.5%)
5.28B
est: 68.63B (-92.3%)
57.26B
est: 69.89B (-18.1%)
71.85B
68.78B – 76.80B
+2.8% YoY
75.71B
71.97B – 81.97B
+5.4% YoY
79.98B
78.74B – 81.23B
+5.6% YoY
EBIT
-7.94B
est: 12.18B (-165.2%)
3.94B
est: 11.93B (-66.9%)
1.82B
est: 12.66B (-85.6%)
-7.06B
est: 13.28B (-153.2%)
-6.59B
est: 12.25B (-153.8%)
-127.90B
est: 7.79B (-1,742.7%)
61.82B
est: 9.80B (+531.0%)
11.00B
est: 10.85B (+1.4%)
42.41B
est: 12.17B (+248.5%)
-7.74B
est: 57.21B (-113.5%)
43.27B
est: 58.26B (-25.7%)
59.90B
57.33B – 64.03B
+2.8% YoY
63.12B
59.99B – 68.33B
+5.4% YoY
66.68B
65.64B – 67.72B
+5.6% YoY
Net Income
-13.07B
est: -28.33B (+53.9%)
15.14M
est: 9.83B (-99.8%)
-2.11B
est: -4.46B (+52.7%)
-11.63B
est: -7.04B (-65.2%)
-12.02B
est: -25.38B (+52.7%)
-141.18B
est: -88.41B (-59.7%)
55.12B
est: -70.13B (+178.6%)
-251.61M
est: -57.13B (+99.6%)
28.10B
est: -57.13B (+149.2%)
-26.93B
est: 31.53B (-185.4%)
30.91B
est: 31.17B (-0.8%)
23.73B
12.19B – 29.86B
-23.9% YoY
23.88B
13.72B – 38.96B
+0.6% YoY
21.55B
11.31B – 29.01B
-9.8% YoY
SGA
17.31B
est: 8.04B (+115.1%)
14.01B
est: 7.88B (+77.9%)
15.59B
est: 8.36B (+86.5%)
15.21B
est: 8.77B (+73.4%)
14.99B
est: 8.09B (+85.2%)
1.95B
est: 5.14B (-62.0%)
837.20M
est: 6.47B (-87.1%)
4.73B
est: 7.17B (-34.0%)
7.24B
est: 8.04B (-9.9%)
9.24B
est: 8.56B (+7.9%)
10.13B
est: 8.72B (+16.2%)
8.96B
8.58B – 9.58B
+2.8% YoY
9.44B
8.98B – 10.22B
+5.4% YoY
9.98B
9.82B – 10.13B
+5.6% YoY
EPS
-5.99
est: -6.58 (+9.0%)
0.01
est: 2.28 (-99.6%)
-0.97
est: -1.04 (+6.3%)
-5.33
est: -1.63 (-226.0%)
-5.51
est: -5.90 (+6.5%)
-64.68
est: -20.53 (-215.0%)
25.25
est: -16.29 (+255.0%)
-0.12
est: -13.27 (+99.1%)
12.87
est: -13.27 (+197.0%)
-6.26
est: 1.11 (-661.9%)
1.09
est: 1.11 (-2.2%)
0.78
0.43 – 1.05
-30.3% YoY
0.84
0.48 – 1.38
+7.5% YoY
0.79
0.40 – 1.03
-5.9% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-20 A 4/5 4/5 5/5 5/5 1/5 4/5 3/5
2026-05-19 A- 4/5 4/5 5/5 5/5 1/5 4/5 2/5
2026-05-18 A- 4/5 4/5 5/5 5/5 1/5 4/5 2/5
2026-05-15 A 4/5 4/5 5/5 5/5 1/5 4/5 3/5
2026-05-14 A 4/5 4/5 5/5 5/5 1/5 4/5 3/5
2026-05-13 A 4/5 4/5 5/5 5/5 1/5 4/5 3/5
2026-05-12 A 4/5 4/5 5/5 5/5 1/5 4/5 3/5
2026-05-11 A 4/5 4/5 5/5 5/5 1/5 4/5 3/5
2026-05-08 A 4/5 4/5 5/5 5/5 1/5 4/5 3/5
2026-05-07 A 4/5 4/5 5/5 5/5 1/5 4/5 3/5
2026-05-06 A 4/5 4/5 5/5 5/5 1/5 4/5 3/5
2026-05-05 A 4/5 4/5 5/5 5/5 1/5 4/5 3/5
2026-04-30 A 4/5 4/5 5/5 5/5 1/5 4/5 3/5
2026-04-29 A 4/5 4/5 5/5 5/5 1/5 4/5 3/5
2026-04-28 A 4/5 4/5 5/5 5/5 1/5 4/5 3/5
2026-04-27 A 4/5 4/5 5/5 5/5 1/5 4/5 3/5
2026-04-24 A 4/5 4/5 5/5 5/5 1/5 4/5 3/5
2026-04-23 A- 4/5 4/5 5/5 5/5 1/5 4/5 2/5
2026-04-22 A- 4/5 4/5 5/5 5/5 1/5 4/5 2/5
2026-04-21 A- 4/5 4/5 5/5 5/5 1/5 4/5 2/5
2026-04-20 A- 4/5 4/5 5/5 5/5 1/5 4/5 2/5
2026-04-17 A- 4/5 4/5 5/5 5/5 1/5 4/5 2/5
2026-04-16 A- 4/5 4/5 5/5 5/5 1/5 4/5 2/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
25.33B
OE per share TTM
4.32
Owner's Yield
15.04%
Maintenance CapEx ratio
136.77%
Maint CapEx / Avg PPE
98.8%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock

This company is not held by any ETF in our universe.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
2.70M
Shares Outstanding
28.30B

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Peraphon Thawornsupacharoen Chairman of the Executive Board 954.0K male
Kobchai Srivilas Senior Executive Vice President and Advisor for Special Project 58.1K male
Krittaphon Chantalitanon Executive Vice President of Corporate Strategy & Sustainable Development male
Pamon-Montri Rhatchaya Managing Director of Customer Services Department female
Squadron leader Soradej Namruangsri Executive Vice President of Operations
Surachai Piencharoensak Executive Vice President of Technical Department male
Suvimol Bualerd Executive Vice President of Human Resources female
Chai Eamsiri Chief Executive Officer & Director male
Wiwat Piyawiroj Executive Vice President of Commercial male
Cherdchome Therdsteerasukdi Chief of Finance & Accounting female
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits