TAWNF (Thai Airways International PCL) EBIT: $1,338 Mil (TTM As of Mar. 2026)


TAWNF Thai Airways International PCL TAWNF
41 GF Score
Price $0.18
GF Value $0.01
Valuation Significantly Overvalued
! 4 Warning Signs
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What is Thai Airways International PCL EBIT?

Thai Airways International PCL TAWNF +1.47% 41 EBIT is $1,338 Mil as of Mar. 2026. GuruFocus rates TAWNF with a GF Score™ of 41/100 and a GF Value™ of $0.01 (Significantly Overvalued). The stock has 4 warning signs investors should review.

Thai Airways International PCL's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was $460 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $1,338 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Thai Airways International PCL's annualized ROC % for the quarter that ended in Mar. 2026 was 19.73%. Thai Airways International PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 46.04%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Thai Airways International PCL's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 27.11%.

Thai Airways International PCL  (OTCPK:TAWNF) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Thai Airways International PCL's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=1538.632 * ( 1 - 14.69% )/( (6611.093 + 6693.068)/ 2 )
=1312.6069592/6652.0805
=19.73 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=9629.742 - 931.186 - ( 3913.233 - max(0, 2457.246 - 4544.709+3913.233))
=6611.093

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=10059.369 - 952.832 - ( 4101.316 - max(0, 2539.119 - 4952.588+4101.316))
=6693.068

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Thai Airways International PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1839.204/( ( (3938.242 + max(-1600.224, 0)) + (4052.033 + max(-1498.125, 0)) )/ 2 )
=1839.204/( ( 3938.242 + 4052.033 )/ 2 )
=1839.204/3995.1375
=46.04 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(260.903 + 160.289 + 123.194) - (931.186 + 1211.52 + 1.904)
=-1600.224

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(351.706 + 164.093 + 218.988) - (952.832 + 1280.086 + -0.0059999999998581)
=-1498.125

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Thai Airways International PCL's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=1337.927/4935.135
=27.11 %

* 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 EBIT Related Terms

Thai Airways International PCL EBIT Historical Data

* Premium members only.

The historical data trend for Thai Airways International PCL's EBIT 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.

Thai Airways International PCL EBIT Chart

Thai Airways International PCL Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,842.15 316.41 1,212.43 -226.83 1,318.17

Thai Airways International PCL Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT 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 394.43 476.52 236.63 164.97 459.80

TAWNF vs DAL, UAL, LUV: EBIT Comparison

For the Airlines subindustry, Thai Airways International PCL's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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 EV-to-EBIT vs Transportation Industry

For the Transportation industry and Industrials sector, Thai Airways International PCL's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Thai Airways International PCL's EV-to-EBIT falls into.


TAWNF
41GF Score
Thai Airways International PCL TAWNF
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Thai Airways International PCL EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

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 $1,338 Mil.

* 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of $1,338 Mil mean?
Thai Airways International PCL (TAWNF) has a EBIT of $1,338 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Thai Airways International PCL.
Is Thai Airways International PCL's EBIT too high?
Thai Airways International PCL's current EBIT is $1,338 Mil. Overall, Thai Airways International PCL has a GF Score™ of 41/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Thai Airways International PCL's EBIT compare to DAL and UAL?
Thai Airways International PCL's EBIT of $1,338 Mil 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 EBIT for a Transportation company?
A good EBIT depends on the Transportation industry context. However, EBIT 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 EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Thai Airways International PCL. Thai Airways International PCL's current EBIT is $1,338 Mil. 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?
Based on GuruFocus' analysis, Thai Airways International PCL (TAWNF) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.01, compared to a current price of $0.18 — trading 1700% above its estimated fair value. The current EBIT is $1,338 Mil. Thai Airways International PCL's overall GF Score™ is 41/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Thai Airways International PCL (TAWNF), the current EBIT is $1,338 Mil 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 (TAWNF) Overvalued in 2026?

Based on GuruFocus' analysis, Thai Airways International PCL stock appears to be overvalued. The current stock price of $0.18 is trading 1700% above its estimated GF Value™ of $0.01. GuruFocus considers Thai Airways International PCL to be Significantly Overvalued.

Key valuation signals for TAWNF:

  • EBIT: $1,338 Mil
  • GF Value™: $0.01 vs. price of $0.18 (1700% above fair value)
  • GF Score™: 41/100 with 4 warning signs

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

Thai Airways International PCL Business Description

Other Exchanges THAI:ThailandTHAF:Germany
Address 89 Vibhavadi Rangsit Road, Chom Phon, Chatuchak District, Bangkok, THA, 10900
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.
41GF Score

Get the complete analysis for TAWNF

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$0.18
Price
$0.01
GF Value