The historical rank and industry rank for Thai Airways International PCL's Net Cash per Share or its related term are showing as below:
BKK:THAI-R's Price-to-Net-Cash is not ranked *
in the Transportation industry.
Industry Median: 7.02 * Ranked among companies with meaningful Price-to-Net-Cash only.
Thai Airways International PCL (BKK:THAI-R) Net Cash per Share Explanation
Ben Graham invested in situations where the company's stock price was lower than its net-cash. He assigned some value to the company's other current asset. The value is called Net Current Asset Value (NCAV). One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
You can find companies that are traded below their Net Current Asset Value (NCAV) with our Net-Net screener.
Thai Airways International PCL Net Cash per Share Related Terms
Thai Airways International PCL Net Cash per Share 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 Net Cash per Share Chart
BKK:THAI-R vs DAL, UAL, LUV: Net Cash per Share Comparison
For the Airlines subindustry, Thai Airways International PCL's Price-to-Net-Cash, along with its competitors' market caps and Price-to-Net-Cash 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 Price-to-Net-Cash vs Transportation Industry
For the Transportation industry and Industrials sector, Thai Airways International PCL's Price-to-Net-Cash distribution charts can be found below:
* The bar in red indicates where Thai Airways International PCL's Price-to-Net-Cash falls into.
Thai Airways International PCL Net Cash per Share Calculation
In the calculation of a company's Net Cash per Share, assets other than cash and short term investments are considered to be worth nothing. But the company has to pay its debt and other liabilities in full. This is an extremely conservative way of valuation. Most companies have negative Net Cash per Share. But sometimes a company's price may be lower than its net-cash.
* 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 Net Cash per Share of ฿-3.66 as of Mar. 2026. Net cash per share equals the per-share value of cash and equivalents less total liabilities and minority interest. View historical data on Thai Airways International PCL and its competitors. According to the industry distribution chart, Thai Airways International PCL ranks #999999 out of 126 companies in the Transportation industry.
Is Thai Airways International PCL's Net Cash per Share too high?
Thai Airways International PCL's current Net Cash per Share is ฿-3.66. Based on the distribution chart, Thai Airways International PCL ranks #999999 out of 126 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 Net Cash per Share compare to DAL and UAL?
According to the Transportation industry distribution chart, Thai Airways International PCL ranks #999999 out of 126 companies for Net Cash per Share. This places Thai Airways International PCL in the lower half of its industry. The industry median Net Cash per Share is 7.02. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Cash per Share for a Transportation company?
The median Net Cash per Share among Transportation companies is 7.02, based on 126 companies in the industry. Companies in the top quartile (top 25%) have a Net Cash per Share significantly above this median, while those in the bottom quartile fall well below. However, Net Cash 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 Net Cash per Share mean?
A high Net Cash per Share can signal that a stock is expensive relative to its fundamentals. Net cash per share equals the per-share value of cash and equivalents less total liabilities and minority interest. View historical data on Thai Airways International PCL and its competitors. For the Transportation industry, the median Net Cash per Share is 7.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai Airways International PCL's current Net Cash per Share is ฿-3.66. 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 Net Cash per Share of ฿-3.66. 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 Net Cash per Share is ฿-3.66. 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 Net Cash per Share calculated?
Net Cash per Share is calculated from a company's financial statements. For Thai Airways International PCL (BKK:THAI-R), the current Net Cash per Share is ฿-3.66 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:
Net Cash per Share: ฿-3.66
GF Value™: ฿0.34 vs. price of ฿6.00 (1664.7% above fair value)
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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