A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Thai Airways International PCL's Debt-to-Equity or its related term are showing as below:
BKK:THAI-R'
s Debt-to-Equity Range Over the Past 10 Years
Min: -20.57 Med: 1.55 Max: 12.64
Current: 1.35
During the past 13 years, the highest Debt-to-Equity Ratio of Thai Airways International PCL was 12.64. The lowest was -20.57. And the median was 1.55.
BKK:THAI-R's Debt-to-Equity is ranked worse than 80.77% of 915
companies
in the Transportation industry
Industry Median: 0.52
vs BKK:THAI-R: 1.35
Thai Airways International PCL (BKK:THAI-R) Debt-to-Equity Explanation
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Thai Airways International PCL Debt-to-Equity Related Terms
Thai Airways International PCL Debt-to-Equity 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.
Thai Airways International PCL Debt-to-Equity Chart
BKK:THAI-R vs DAL, UAL, LUV: Debt-to-Equity Comparison
For the Airlines subindustry, Thai Airways International PCL's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity 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 Debt-to-Equity vs Transportation Industry
For the Transportation industry and Industrials sector, Thai Airways International PCL's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Thai Airways International PCL's Debt-to-Equity 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 Debt-to-Equity of 1.35 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Thai Airways International PCL and its competitors. This is 13% below median its historical median of 1.55. According to the industry distribution chart, Thai Airways International PCL ranks #739 out of 915 companies in the Transportation industry, placing it in the top 80.8%.
Is Thai Airways International PCL's Debt-to-Equity too high?
Thai Airways International PCL's current Debt-to-Equity of 1.35 is 13% below median its 10-year median of 1.55. The Transportation industry median Debt-to-Equity is 0.52. Thai Airways International PCL's value of 1.35 is 159.6% above this industry median. Based on the distribution chart, Thai Airways International PCL ranks #739 out of 915 companies in the Transportation industry, which is in the bottom quartile relative to peers. 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 Debt-to-Equity compare to DAL and UAL?
According to the Transportation industry distribution chart, Thai Airways International PCL ranks #739 out of 915 companies for Debt-to-Equity. This places Thai Airways International PCL in the lower half of its industry. The industry median Debt-to-Equity is 0.52. Thai Airways International PCL's value of 1.35 is 159.6% above this benchmark. While the company's 10-year median is 1.55 vs. the industry median of 0.52, 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 Debt-to-Equity for a Transportation company?
The median Debt-to-Equity among Transportation companies is 0.52, based on 915 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Thai Airways International PCL's current Debt-to-Equity of 1.35 is 159.6% 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 Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Thai Airways International PCL and its competitors. For the Transportation industry, the median Debt-to-Equity is 0.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai Airways International PCL's current Debt-to-Equity is 1.35, which is 13% below median its own 10-year median of 1.55. 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 Debt-to-Equity of 1.35. The stock's GF Value™ is ฿0.33, compared to a current price of ฿6.00 — trading 1718.2% above its estimated fair value. The current Debt-to-Equity is 1.35, which is 13% below median its 10-year median of 1.55 and 159.6% above the Transportation industry median of 0.52. 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 Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Thai Airways International PCL (BKK:THAI-R), the current Debt-to-Equity is 1.35 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 1718.2% above its estimated GF Value™ of ฿0.33.
Key valuation signals for BKK:THAI-R:
Debt-to-Equity: 1.35 (13% below median its 10-year median of 1.55)
GF Value™: ฿0.33 vs. price of ฿6.00 (1718.2% above fair value)
Industry Position: 159.6% above the Transportation median (#739 of 915)
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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Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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