Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. Thai Airways International PCL's cash to debt ratio for the quarter that ended in Mar. 2026 was 1.10.
If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. Here we can see, Thai Airways International PCLcould pay off its debt using the cash in hand for the quarter that ended in Mar. 2026.
The historical rank and industry rank for Thai Airways International PCL's Cash-to-Debt or its related term are showing as below:
BKK:THAI-R'
s Cash-to-Debt Range Over the Past 10 Years
Min: 0.04 Med: 0.13 Max: 1.1
Current: 1.1
During the past 13 years, Thai Airways International PCL's highest Cash to Debt Ratio was 1.10. The lowest was 0.04. And the median was 0.13.
BKK:THAI-R's Cash-to-Debt is ranked better than 66.8% of 991
companies
in the Transportation industry
Industry Median: 0.47
vs BKK:THAI-R: 1.10
Thai Airways International PCL (BKK:THAI-R) Cash-to-Debt Explanation
If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.
Thai Airways International PCL Cash-to-Debt Related Terms
Thai Airways International PCL Cash-to-Debt Historical Data
* 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.
Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
BKK:THAI-R vs DAL, UAL, LUV: Cash-to-Debt Comparison
For the Airlines subindustry, Thai Airways International PCL's Cash-to-Debt, along with its competitors' market caps and Cash-to-Debt 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.
Thai Airways International PCL Cash-to-Debt vs Transportation Industry
For the Transportation industry and Industrials sector, Thai Airways International PCL's Cash-to-Debt distribution charts can be found below:
* The bar in red indicates where Thai Airways International PCL's Cash-to-Debt falls into.
* 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.
Thai Airways International PCL (BKK:THAI-R) has a Cash-to-Debt of 1.10 as of Mar. 2026. This is 746% above median its historical median of 0.13. Over the past decade, Thai Airways International PCL's Cash-to-Debt has ranged from 0.04 to 1.10. According to the industry distribution chart, Thai Airways International PCL ranks #329 out of 991 companies in the Transportation industry, placing it in the top 33.2%.
Is Thai Airways International PCL's Cash-to-Debt too high?
Thai Airways International PCL's current Cash-to-Debt of 1.10 is 746% above median its 10-year median of 0.13. Over the past 10 years, this metric has ranged from a low of 0.04 to a high of 1.10. The Transportation industry median Cash-to-Debt is 0.47. Thai Airways International PCL's value of 1.10 is 134% above this industry median. Based on the distribution chart, Thai Airways International PCL ranks #329 out of 991 companies in the Transportation industry, which is above the industry midpoint. Overall, Thai Airways International PCL has a GF Score™ of 37/100, reflecting its overall financial health beyond just this single metric.
How does Thai Airways International PCL's Cash-to-Debt compare to DAL and UAL?
According to the Transportation industry distribution chart, Thai Airways International PCL ranks #329 out of 991 companies for Cash-to-Debt. This puts Thai Airways International PCL in the upper half of its industry. The industry median Cash-to-Debt is 0.47. Thai Airways International PCL's value of 1.10 is 134% above this benchmark. Historically, Thai Airways International PCL's own Cash-to-Debt has ranged from 0.04 to 1.10 over the past decade. While the company's 10-year median is 0.13 vs. the industry median of 0.47, Thai Airways International PCL has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash-to-Debt for a Transportation company?
The median Cash-to-Debt among Transportation companies is 0.47, based on 991 companies in the industry. Companies in the top quartile (top 25%) have a Cash-to-Debt significantly above this median, while those in the bottom quartile fall well below. However, Cash-to-Debt should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Thai Airways International PCL's current Cash-to-Debt of 1.10 is 134% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash-to-Debt mean?
A high Cash-to-Debt can signal that a stock is expensive relative to its fundamentals. For the Transportation industry, the median Cash-to-Debt is 0.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai Airways International PCL's current Cash-to-Debt is 1.10, which is 746% above median its own 10-year median of 0.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thai Airways International PCL stock overvalued right now?
Thai Airways International PCL (BKK:THAI-R) has a current Cash-to-Debt of 1.10. The stock's GF Value™ is ฿0.34, compared to a current price of ฿6.00 — trading 1664.7% above its estimated fair value. The current Cash-to-Debt is 1.10, which is 746% above median its 10-year median of 0.13 and 134% above the Transportation industry median of 0.47. Thai Airways International PCL's overall GF Score™ is 37/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash-to-Debt calculated?
Cash-to-Debt is calculated from a company's financial statements. For Thai Airways International PCL (BKK:THAI-R), the current Cash-to-Debt is 1.10 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Thai Airways International PCL (BKK:THAI-R) Overvalued in 2026?
Based on GuruFocus' analysis, Thai Airways International PCL stock appears to be overvalued.
The current stock price of ฿6.00 is trading 1664.7% above its estimated GF Value™ of ฿0.34.
Key valuation signals for BKK:THAI-R:
Cash-to-Debt: 1.10 (746% above median its 10-year median of 0.13)
GF Value™: ฿0.34 vs. price of ฿6.00 (1664.7% above fair value)
Industry Position: 134% above the Transportation median (#329 of 991)
No single metric tells the full story. See the BKK:THAI-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thai Airways International PCL Business Description
Thai Airways International PCL is a state-owned enterprise (Thailand) operating domestic, regional, and intercontinental flights. The company segments are Air Transport, Business Units, and Others. The air transport business focuses on the transportation of passengers, cargo, and mail, and utilizes scheduled and chartered flights to domestic and international destinations. The business units segment ensures all flights reach their destination on time and at the correct location, and offers support with cargo terminal handling, group equipment services, and catering services. The other segments include the sale of duty-free goods, the sale of souvenir products from the maintenance division, and the operation of subsidiaries. The majority of revenue originates from Asia from Air Transport.
37GF Score
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