Thai Airways International PCL (BKK:THAI) OCF Margin %: 28.93% (As of Mar. 2026) — 120% Above Median


BKK:THAI Thai Airways International PCL BKK:THAI
37 GF Score
Price ฿6.10
GF Value ฿0.35
Valuation Significantly Overvalued
! 4 Warning Signs
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What is Thai Airways International PCL OCF Margin %?

Thai Airways International PCL BKK:THAI -0.81% 37 OCF Margin % is 28.93% as of Mar. 2026, which is 120% above its 10-year median of 13.13. GuruFocus rates BKK:THAI with a GF Score™ of 37/100 and a GF Value™ of ฿0.35 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 1,006 Transportation companies, Thai Airways International PCL ranks better than 66% on this metric.

OCF Margin % is calculated as Cash Flow from Operations divided by its Revenue. Thai Airways International PCL's Cash Flow from Operations for the three months ended in Mar. 2026 was ฿14,375 Mil. Thai Airways International PCL's Revenue for the three months ended in Mar. 2026 was ฿49,692 Mil. Therefore, Thai Airways International PCL's OCF Margin % for the quarter that ended in Mar. 2026 was 28.93%.

As of today, Thai Airways International PCL's current OCF Yield % is 21.24%.

The historical rank and industry rank for Thai Airways International PCL's OCF Margin % or its related term are showing as below:

BKK:THAI' s OCF Margin % Range Over the Past 10 Years
Min: -45.65   Med: 13.13   Max: 29.5
Current: 20.87


During the past 13 years, the highest OCF Margin % of Thai Airways International PCL was 29.50%. The lowest was -45.65%. And the median was 13.13%.

BKK:THAI's OCF Margin % is ranked better than
66% of 1006 companies
in the Transportation industry
Industry Median: 12.945 vs BKK:THAI: 20.87


Thai Airways International PCL OCF Margin % Related Terms


Thai Airways International PCL OCF Margin % Historical Data

* Premium members only.

The historical data trend for Thai Airways International PCL's OCF Margin % 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 OCF Margin % Chart

Thai Airways International PCL Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
OCF Margin %
Get a 7-Day Free Trial Premium Member Only Premium Member Only -45.65 28.02 27.89 29.50 22.01

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
OCF Margin % 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 33.00 35.13 0.78 17.56 28.93

BKK:THAI vs DAL, UAL, LUV: OCF Margin % Comparison

For the Airlines subindustry, Thai Airways International PCL's OCF Margin %, along with its competitors' market caps and OCF Margin % 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 OCF Margin % vs Transportation Industry

For the Transportation industry and Industrials sector, Thai Airways International PCL's OCF Margin % distribution charts can be found below:

* The bar in red indicates where Thai Airways International PCL's OCF Margin % falls into.


BKK:THAI
37GF Score
Thai Airways International PCL BKK:THAI
OCF Margin % is just one metric. See GF Score™, valuation, warning signs, and more.
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Thai Airways International PCL OCF Margin % Calculation

OCF Margin % is the ratio of Cash Flow from Operations divided by net sales or Revenue, usually presented in percent.

Thai Airways International PCL's OCF Margin for the fiscal year that ended in Dec. 2025 is calculated as

OCF Margin=Cash Flow from Operations (A: Dec. 2025 )/Revenue (A: Dec. 2025 )
=40379.311/183441.605
=22.01 %

Thai Airways International PCL's OCF Margin for the quarter that ended in Mar. 2026 is calculated as

OCF Margin=Cash Flow from Operations (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=14375.222/49691.905
=28.93 %

* 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 OCF Margin % →
What does a OCF Margin % of 28.93% mean?
Thai Airways International PCL (BKK:THAI) has a OCF Margin % of 28.93% as of Mar. 2026. OCF Margin is the ratio of Cash Flow from Operations to Total Revenue. View historical data on Thai Airways International PCL and its competitors. This is 120% above median its historical median of 13.13. According to the industry distribution chart, Thai Airways International PCL ranks #342 out of 1006 companies in the Transportation industry, placing it in the top 34%.
Is Thai Airways International PCL's OCF Margin % too high?
Thai Airways International PCL's current OCF Margin % of 28.93% is 120% above median its 10-year median of 13.13. The Transportation industry median OCF Margin % is 12.95. Thai Airways International PCL's value of 28.93% is 123.5% above this industry median. Based on the distribution chart, Thai Airways International PCL ranks #342 out of 1006 companies in the Transportation industry, which is above the industry midpoint. Overall, Thai Airways International PCL has a GF Score™ of 37/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Thai Airways International PCL's OCF Margin % compare to DAL and UAL?
According to the Transportation industry distribution chart, Thai Airways International PCL ranks #342 out of 1006 companies for OCF Margin %. This puts Thai Airways International PCL in the upper half of its industry. The industry median OCF Margin % is 12.95. Thai Airways International PCL's value of 28.93% is 123.5% above this benchmark. While the company's 10-year median is 13.13 vs. the industry median of 12.95, 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 OCF Margin % for a Transportation company?
The median OCF Margin % among Transportation companies is 12.95, based on 1,006 companies in the industry. Companies in the top quartile (top 25%) have a OCF Margin % significantly above this median, while those in the bottom quartile fall well below. However, OCF Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Thai Airways International PCL's current OCF Margin % of 28.93% is 123.5% 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 OCF Margin % mean?
A high OCF Margin % can signal that a stock is expensive relative to its fundamentals. OCF Margin is the ratio of Cash Flow from Operations to Total Revenue. View historical data on Thai Airways International PCL and its competitors. For the Transportation industry, the median OCF Margin % is 12.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai Airways International PCL's current OCF Margin % is 28.93%, which is 120% above median its own 10-year median of 13.13. 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 (BKK:THAI) is currently considered Significantly Overvalued. The stock's GF Value™ is ฿0.35, compared to a current price of ฿6.10 — trading 1642.9% above its estimated fair value. The current OCF Margin % is 28.93%, which is 120% above median its 10-year median of 13.13 and 123.5% above the Transportation industry median of 12.95. 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 OCF Margin % calculated?
OCF Margin % is calculated from a company's financial statements. For Thai Airways International PCL (BKK:THAI), the current OCF Margin % is 28.93% 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) Overvalued in 2026?

Based on GuruFocus' analysis, Thai Airways International PCL stock appears to be overvalued. The current stock price of ฿6.10 is trading 1642.9% above its estimated GF Value™ of ฿0.35. GuruFocus considers Thai Airways International PCL to be Significantly Overvalued.

Key valuation signals for BKK:THAI:

  • OCF Margin %: 28.93% (120% above median its 10-year median of 13.13)
  • GF Value™: ฿0.35 vs. price of ฿6.10 (1642.9% above fair value)
  • GF Score™: 37/100 with 4 warning signs
  • Industry Position: 123.5% above the Transportation median (#342 of 1006)

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


Thai Airways International PCL Business Description

Other Exchanges TAWNF:USATHAF: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.
37GF Score

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

฿6.10
Price
฿0.35
GF Value