Thai Airways International PCLBKK:THAI-R 37 Earnings Yield (Joel Greenblatt) % is 26.88% as of Mar. 2026, which is 2729% above its 10-year median of 0.95. GuruFocus rates BKK:THAI-R with a GF Score™ of 37/100 and a GF Value™ of ฿0.34. The stock has 4 warning signs investors should review. Among 1,019 Transportation companies, Thai Airways International PCL ranks better than 95.29% on this metric.
Thai Airways International PCL's Enterprise Value for the quarter that ended in Mar. 2026 was ฿157,493 Mil.
Thai Airways International PCL's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 was ฿43,134 Mil. Thai Airways International PCL's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2026 was 26.88%.
The historical rank and industry rank for Thai Airways International PCL's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
BKK:THAI-R'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -2651.88 Med: 0.95 Max: 47.22
Current: 26.88
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Thai Airways International PCL was 47.22%. The lowest was -2651.88%. And the median was 0.95%.
BKK:THAI-R's Earnings Yield (Joel Greenblatt) % is ranked better than 95.29% of 1019
companies
in the Transportation industry
Industry Median: 6.9
vs BKK:THAI-R: 26.88
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Thai Airways International PCL's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2026 was 0.00%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
* 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 Earnings Yield (Joel Greenblatt) % Chart
For the Airlines subindustry, Thai Airways International PCL's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % 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 Earnings Yield (Joel Greenblatt) % vs Transportation Industry
For the Transportation industry and Industrials sector, Thai Airways International PCL's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Thai Airways International PCL's Earnings Yield (Joel Greenblatt) % falls into.
Thai Airways International PCL Earnings Yield (Joel Greenblatt) % Calculation
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Thai Airways International PCLs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2025 is calculated as
Thai Airways International PCL's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ฿43,134 Mil.
What does a Earnings Yield (Joel Greenblatt) % of 26.88% mean?
Thai Airways International PCL (BKK:THAI-R) has a Earnings Yield (Joel Greenblatt) % of 26.88% as of Mar. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Thai Airways International PCL and its competitors. This is 2729% above median its historical median of 0.95. According to the industry distribution chart, Thai Airways International PCL ranks #48 out of 1019 companies in the Transportation industry, placing it in the top 4.7%.
Is Thai Airways International PCL's Earnings Yield (Joel Greenblatt) % too high?
Thai Airways International PCL's current Earnings Yield (Joel Greenblatt) % of 26.88% is 2729% above median its 10-year median of 0.95. The Transportation industry median Earnings Yield (Joel Greenblatt) % is 6.90. Thai Airways International PCL's value of 26.88% is 289.6% above this industry median. Based on the distribution chart, Thai Airways International PCL ranks #48 out of 1019 companies in the Transportation industry, which is in the top quartile — a strong position 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 Earnings Yield (Joel Greenblatt) % compare to DAL and UAL?
According to the Transportation industry distribution chart, Thai Airways International PCL ranks #48 out of 1019 companies for Earnings Yield (Joel Greenblatt) %. This places Thai Airways International PCL in the top 5% of its industry — outperforming the majority of peers. The industry median Earnings Yield (Joel Greenblatt) % is 6.90. Thai Airways International PCL's value of 26.88% is 289.6% above this benchmark. While the company's 10-year median is 0.95 vs. the industry median of 6.90, 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 Earnings Yield (Joel Greenblatt) % for a Transportation company?
The median Earnings Yield (Joel Greenblatt) % among Transportation companies is 6.90, based on 1,019 companies in the industry. Companies in the top quartile (top 25%) have a Earnings Yield (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Thai Airways International PCL's current Earnings Yield (Joel Greenblatt) % of 26.88% is 289.6% 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 Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Thai Airways International PCL and its competitors. For the Transportation industry, the median Earnings Yield (Joel Greenblatt) % is 6.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai Airways International PCL's current Earnings Yield (Joel Greenblatt) % is 26.88%, which is 2729% above median its own 10-year median of 0.95. 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 Earnings Yield (Joel Greenblatt) % of 26.88%. 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 Earnings Yield (Joel Greenblatt) % is 26.88%, which is 2729% above median its 10-year median of 0.95 and 289.6% above the Transportation industry median of 6.90. 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 Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For Thai Airways International PCL (BKK:THAI-R), the current Earnings Yield (Joel Greenblatt) % is 26.88% 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:
Earnings Yield (Joel Greenblatt) %: 26.88% (2729% above median its 10-year median of 0.95)
GF Value™: ฿0.34 vs. price of ฿6.00 (1664.7% above fair value)
Industry Position: 289.6% above the Transportation median (#48 of 1019)
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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