EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Thai Airways International PCL's enterprise value is ฿160,323 Mil.
Thai Airways International PCL's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was ฿57,849 Mil. Therefore, Thai Airways International PCL's EV-to-EBITDA for today is 2.77.
The historical rank and industry rank for Thai Airways International PCL's EV-to-EBITDA or its related term are showing as below:
BKK:THAI-R'
s EV-to-EBITDA Range Over the Past 10 Years
Min: -78.33 Med: 6.45 Max: 28.99
Current: 2.77
During the past 13 years, the highest EV-to-EBITDA of Thai Airways International PCL was 28.99. The lowest was -78.33. And the median was 6.45.
BKK:THAI-R's EV-to-EBITDA is ranked better than 92.82% of 905
companies
in the Transportation industry
Industry Median: 8.56
vs BKK:THAI-R: 2.77
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
Thai Airways International PCL (BKK:THAI-R) EV-to-EBITDA Explanation
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Thai Airways International PCL's PE Ratio (TTM) for today is calculated as:
Thai Airways International PCL's share price for today is ฿6.00.
Thai Airways International PCL's Earnings per Share (Diluted) 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 ฿1.110.
* 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.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
* 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.
BKK:THAI-R vs DAL, UAL, LUV: EV-to-EBITDA Comparison
For the Airlines subindustry, Thai Airways International PCL's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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-EBITDA vs Transportation Industry
For the Transportation industry and Industrials sector, Thai Airways International PCL's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Thai Airways International PCL's EV-to-EBITDA falls into.
Thai Airways International PCL's current Enterprise Value is ฿160,323 Mil.
Thai Airways International PCL's EBITDA 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 ฿57,849 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.
Thai Airways International PCL (BKK:THAI-R) has a EV-to-EBITDA of 2.77 as of Jun. 27, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Thai Airways International PCL. This is 57% below median its historical median of 6.45. According to the industry distribution chart, Thai Airways International PCL ranks #65 out of 905 companies in the Transportation industry, placing it in the top 7.2%.
Is Thai Airways International PCL's EV-to-EBITDA too high?
Thai Airways International PCL's current EV-to-EBITDA of 2.77 is 57% below median its 10-year median of 6.45. The Transportation industry median EV-to-EBITDA is 8.56. Thai Airways International PCL's value of 2.77 is 67.6% below this industry median. Based on the distribution chart, Thai Airways International PCL ranks #65 out of 905 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 EV-to-EBITDA compare to DAL and UAL?
According to the Transportation industry distribution chart, Thai Airways International PCL ranks #65 out of 905 companies for EV-to-EBITDA. This places Thai Airways International PCL in the top 7% of its industry — outperforming the majority of peers. The industry median EV-to-EBITDA is 8.56. Thai Airways International PCL's value of 2.77 is 67.6% below this benchmark. While the company's 10-year median is 6.45 vs. the industry median of 8.56, Thai Airways International PCL has consistently been below 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 EV-to-EBITDA for a Transportation company?
The median EV-to-EBITDA among Transportation companies is 8.56, based on 905 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Thai Airways International PCL's current EV-to-EBITDA of 2.77 is 67.6% below 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 EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Thai Airways International PCL. For the Transportation industry, the median EV-to-EBITDA is 8.56 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai Airways International PCL's current EV-to-EBITDA is 2.77, which is 57% below median its own 10-year median of 6.45. 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 EV-to-EBITDA of 2.77. 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 EV-to-EBITDA is 2.77, which is 57% below median its 10-year median of 6.45 and 67.6% below the Transportation industry median of 8.56. 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 EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Thai Airways International PCL (BKK:THAI-R), the current EV-to-EBITDA is 2.77 as of Jun. 27, 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:
EV-to-EBITDA: 2.77 (57% below median its 10-year median of 6.45)
GF Value™: ฿0.34 vs. price of ฿6.00 (1664.7% above fair value)
Industry Position: 67.6% below the Transportation median (#65 of 905)
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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EV-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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