Company Valuation: Thai Airways International

Data adjusted to current consolidation scope
Fiscal Period: December 2024 2025 2026 2027 2028
Market Cap 1 7,247 196,708 166,989 - -
Change - 2,614.41% -15.11% - -
Enterprise Value (EV) 1 7,247 235,802 212,845 214,455 222,677
Change - 3,153.87% -9.74% 0.76% 3.83%
P/E -0.53x 6.38x 7.97x 6.94x 6.88x
PBR - 2.59x 1.85x 1.47x 1.21x
PEG - -0x -0.2x 0.5x 8.04x
Capitalization / Revenue - 1.07x 0.86x 0.81x 0.76x
EV / Revenue - 1.29x 1.1x 1.04x 1.01x
EV / EBITDA - 4.12x 5.03x 4.24x 4.08x
EV / EBIT - 5.65x 7.45x 6.16x 6.04x
EV / FCF - 9.39x 15.8x 21.3x 18.9x
FCF Yield - 10.6% 6.31% 4.69% 5.29%
Dividend per Share 2 - 0.21 0.158 0.1958 0.2069
Rate of return - 3.02% 2.68% 3.32% 3.51%
EPS 2 -6.26 1.09 0.7406 0.8507 0.858
Distribution rate - 19.3% 21.3% 23% 24.1%
Net sales 1 - 183,442 193,814 205,706 220,243
EBITDA 1 - 57,259 42,284 50,585 54,558
EBIT 1 - 41,740 28,579 34,830 36,886
Net income 1 -26,934 30,910 20,980 23,945 24,247
Net Debt 1 - 39,094 45,856 47,465 55,687
Reference price 2 3.320 6.950 5.900 5.900 5.900
Nbr of stocks (in thousands) 2,182,772 28,303,292 28,303,292 - -
Announcement Date 2/25/25 2/27/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
7.97x1.1x5.03x2.68% 4.97B
13.5x0.96x7.33x0.89% 56.69B
10.61x0.84x6.78x-.--% 39.14B
14.02x1.43x6.41x1.78% 29.04B
8.21x0.81x3.86x2.06% 25.86B
-366.98x2.71x14.29x0.19% 21.09B
29.12x1.23x6.33x3.54% 18.82B
-14.29x1.62x10.4x-.--% 16.71B
11.09x1.18x4.68x3.15% 14.97B
-122.44x1.52x8.57x-.--% 12.38B
Average -40.92x 1.34x 7.37x 1.43% 23.97B
Weighted average by Cap. -28.95x 1.25x 7.35x 1.19%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

  1. Stock Market
  2. Stocks
  3. THAI Stock
  4. Valuation Thai Airways International