AIPUY (Airports Of Thailand) Cyclically Adjusted Revenue per Share: $1.39 (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

AIPUY Airports Of Thailand PLC AIPUY
79 GF Score
Price $17.15
GF Value $21.60
Valuation Modestly Undervalued
! 7 Warning Signs
View Full Analysis

What is Airports Of Thailand Cyclically Adjusted Revenue per Share?

Airports Of Thailand AIPUY 79 Cyclically Adjusted Revenue per Share is $1.39 as of Mar. 2026. GuruFocus rates AIPUY with a GF Score™ of 79/100 and a GF Value™ of $21.60 (Modestly Undervalued). The stock has 7 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

Airports Of Thailand's adjusted revenue per share for the three months ended in Mar. 2026 was $0.400. Add all the adjusted revenue per share for the past 10 years together and divide the count will get our Cyclically Adjusted Revenue per Share, which is $1.39 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Airports Of Thailand's average Cyclically Adjusted Revenue Growth Rate was 3.40% per year. During the past 3 years, the average Cyclically Adjusted Revenue Growth Rate was 4.50% per year. During the past 5 years, the average Cyclically Adjusted Revenue Growth Rate was 3.50% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Revenue Growth Rate using Cyclically Adjusted Revenue per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Revenue Growth Rate of Airports Of Thailand was 6.80% per year. The lowest was 1.60% per year. And the median was 4.15% per year.

As of today (2026-07-16), Airports Of Thailand's current stock price is $17.15. Airports Of Thailand's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was $1.39. Airports Of Thailand's Cyclically Adjusted PS Ratio of today is 12.34.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Airports Of Thailand was 26.18. The lowest was 7.41. And the median was 19.70.


Airports Of Thailand  (OTCPK:AIPUY) Cyclically Adjusted Revenue per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Revenue per Share may underestimate the company's revenue. Cyclically Adjusted PS Ratio can seem to be too high even the actual PS Ratio is low.

For the Cyclically Adjusted PS Ratio, the revenue per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/S calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PS Ratio is also called CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Airports Of Thailand's Cyclically Adjusted PS Ratio of today is calculated as

Cyclically Adjusted PS Ratio=Share Price/Cyclically Adjusted Revenue per Share
=17.15/1.39
=12.34

* 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.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Airports Of Thailand was 26.18. The lowest was 7.41. And the median was 19.70.


Be Aware

Cyclically Adjusted PS Ratio works better for cyclical companies. It gives you a better idea on the company's real revenue value.


Airports Of Thailand Cyclically Adjusted Revenue per Share Related Terms


Airports Of Thailand Cyclically Adjusted Revenue per Share Historical Data

* Premium members only.

The historical data trend for Airports Of Thailand's Cyclically Adjusted Revenue per Share 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.

Airports Of Thailand Cyclically Adjusted Revenue per Share Chart

Airports Of Thailand Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Cyclically Adjusted Revenue per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.96 0.85 0.95 1.10 1.13

Airports Of Thailand Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted Revenue per Share 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 1.24 1.29 1.13 1.20 1.39

AIPUY vs JOBY, CAAP: Cyclically Adjusted Revenue per Share Comparison

For the Airports & Air Services subindustry, Airports Of Thailand's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS 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.


Airports Of Thailand Cyclically Adjusted PS Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, Airports Of Thailand's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Airports Of Thailand's Cyclically Adjusted PS Ratio falls into.


AIPUY
79GF Score
Airports Of Thailand PLC AIPUY
Cyclically Adjusted Revenue per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Airports Of Thailand Cyclically Adjusted Revenue per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

What is Cyclically Adjusted Revenue per Share? How do we calculate Cyclically Adjusted Revenue per Share?

Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Revenue per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the revenue per share from 2001 through 2010.

We adjusted the 2001 revenue per share data with the total inflation from 2001 through 2010 to the equivalent revenue in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's revenue is $1 a share in 2001, then the 2001's equivalent revenue in 2010 is $1.4 a share. If Wal-Mart's revenue is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 revenue in 2010 is $1.35. So on and so forth, you get the equivalent revenue per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Revenue per Share.

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.

For example, Airports Of Thailand's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare= Revenue per Share /CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=0.4/330.2130*330.2130
=0.400

Current CPI (Mar. 2026) = 330.2130.

Airports Of Thailand Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 0.250 241.018 0.343
201609 0.258 241.428 0.353
201612 0.247 241.432 0.338
201703 0.292 243.801 0.395
201706 0.280 244.955 0.377
201709 0.298 246.819 0.399
201712 0.317 246.524 0.425
201803 0.366 249.554 0.484
201806 0.320 251.989 0.419
201809 0.317 252.439 0.415
201812 0.332 251.233 0.436
201903 0.381 254.202 0.495
201906 0.339 256.143 0.437
201909 0.347 256.759 0.446
201912 0.371 256.974 0.477
202003 0.264 258.115 0.338
202006 0.030 257.797 0.038
202009 0.041 260.280 0.052
202012 0.050 260.474 0.063
202103 0.041 264.877 0.051
202106 0.038 271.696 0.046
202109 0.031 274.310 0.037
202112 0.049 278.802 0.058
202203 0.064 287.504 0.074
202206 0.091 296.311 0.101
202209 0.124 296.808 0.138
202212 0.148 296.797 0.165
202303 0.223 301.836 0.244
202306 0.259 305.109 0.280
202309 0.289 307.789 0.310
202312 0.315 306.746 0.339
202403 0.351 312.332 0.371
202406 0.313 314.175 0.329
202409 0.353 315.301 0.370
202412 0.358 315.605 0.375
202503 0.367 319.799 0.379
202506 0.329 322.561 0.337
202509 0.344 324.800 0.350
202512 0.379 324.054 0.386
202603 0.400 330.213 0.400

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

What does a Cyclically Adjusted Revenue per Share of $1.39 mean?
Airports Of Thailand (AIPUY) has a Cyclically Adjusted Revenue per Share of $1.39 as of Mar. 2026. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on Airports Of Thailand and its competitors.
Is Airports Of Thailand's Cyclically Adjusted Revenue per Share too high?
Airports Of Thailand's current Cyclically Adjusted Revenue per Share is $1.39. Overall, Airports Of Thailand has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Airports Of Thailand's Cyclically Adjusted Revenue per Share compare to JOBY and CAAP?
Airports Of Thailand's Cyclically Adjusted Revenue per Share of $1.39 can be compared against companies in the Transportation industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Revenue per Share for a Transportation company?
A good Cyclically Adjusted Revenue per Share depends on the Transportation industry context. However, Cyclically Adjusted Revenue per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Revenue per Share mean?
A high Cyclically Adjusted Revenue per Share can signal that a stock is expensive relative to its fundamentals. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on Airports Of Thailand and its competitors. Airports Of Thailand's current Cyclically Adjusted Revenue per Share is $1.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Airports Of Thailand stock overvalued right now?
Based on GuruFocus' analysis, Airports Of Thailand (AIPUY) is currently considered Modestly Undervalued. The stock's GF Value™ is $21.60, compared to a current price of $17.15 — trading 20.6% below its estimated fair value. The current Cyclically Adjusted Revenue per Share is $1.39. Airports Of Thailand's overall GF Score™ is 79/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted Revenue per Share calculated?
Cyclically Adjusted Revenue per Share is calculated from a company's financial statements. For Airports Of Thailand (AIPUY), the current Cyclically Adjusted Revenue per Share is $1.39 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 Airports Of Thailand (AIPUY) Overvalued in 2026?

Based on GuruFocus' analysis, Airports Of Thailand stock appears to be undervalued. The current stock price of $17.15 is trading 20.6% below its estimated GF Value™ of $21.60. GuruFocus considers Airports Of Thailand to be Modestly Undervalued.

Key valuation signals for AIPUY:

  • Cyclically Adjusted Revenue per Share: $1.39
  • GF Value™: $21.60 vs. price of $17.15 (20.6% below fair value)
  • GF Score™: 79/100 with 7 warning signs

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


Airports Of Thailand Business Description

Address No. 333, Cherdwutagard Road, Sikan, Don Mueang, Bangkok, THA, 10210
Airports Of Thailand PLC operates airports and provides services related to air transportation. Its airports, located in Thailand, serve both domestic and international flights. The company operates in various business segments such as airport management business, hotel business, ground aviation services, security business, and manages projects on perishable goods. The majority of its revenue is derived from its airport management business under which it generates income mainly from two categories of services: aeronautical and nonaeronautical. Aeronautical revenue is associated with air traffic, including landing and parking charges, and passenger and aircraft service charges. Nonaeronautical revenue is generated from office and state property rents.
79GF Score

Get the complete analysis for AIPUY

Cyclically Adjusted Revenue per Share is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$17.15
Price
$21.60
GF Value