Asia Aviation PCL (BKK:AAV) ROCE %: 14.50% (As of Mar. 2026)

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BKK:AAV Asia Aviation PCL BKK:AAV
65 GF Score
Price ฿1.07
GF Value ฿2.18
Valuation Possible Value Trap
! 6 Warning Signs
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What is Asia Aviation PCL ROCE %?

Asia Aviation PCL BKK:AAV 65 ROCE % is 14.50% as of Mar. 2026. GuruFocus rates BKK:AAV with a GF Score™ of 65/100 and a GF Value™ of ฿2.18 (Possible Value Trap). The stock has 6 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Asia Aviation PCL's annualized ROCE % for the quarter that ended in Mar. 2026 was 14.50%.

Asia Aviation PCL  (BKK:AAV) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Asia Aviation PCL ROCE % Related Terms

Asia Aviation PCL ROCE % Historical Data

* Premium members only.

The historical data trend for Asia Aviation PCL's ROCE % 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.

Asia Aviation PCL ROCE % Chart

Asia Aviation PCL Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only -23.05 -17.74 6.29 14.82 11.45

Asia Aviation PCL Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % 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 20.42 6.68 -2.69 20.83 14.50
BKK:AAV
65GF Score
Asia Aviation PCL BKK:AAV
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Asia Aviation PCL ROCE % Calculation

Asia Aviation PCL's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=5400.098/( ( (74967.367 - 28660.205) + (76337.681 - 28329.249) )/ 2 )
=5400.098/( (46307.162+48008.432)/ 2 )
=5400.098/47157.797
=11.45 %

Asia Aviation PCL's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=6994.328/( ( (76337.681 - 28329.249) + (75998.167 - 27535.573) )/ 2 )
=6994.328/( ( 48008.432 + 48462.594 )/ 2 )
=6994.328/48235.513
=14.50 %

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

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 14.50% mean?
Asia Aviation PCL (BKK:AAV) has a ROCE % of 14.50% as of Mar. 2026.
Is Asia Aviation PCL's ROCE % too high?
Asia Aviation PCL's current ROCE % is 14.50%. The Transportation industry median ROCE % is 7.73. Asia Aviation PCL's value of 14.50% is 87.6% above this industry median. Overall, Asia Aviation PCL has a GF Score™ of 65/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Asia Aviation PCL's ROCE % compare to DAL and UAL?
Asia Aviation PCL's ROCE % of 14.50% can be compared against companies in the Transportation industry. The industry median ROCE % is 7.73. Asia Aviation PCL's value of 14.50% is 87.6% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Transportation company?
The median ROCE % among Transportation companies is 7.73, based on 990 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Asia Aviation PCL's current ROCE % of 14.50% is 87.6% 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Transportation industry, the median ROCE % is 7.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asia Aviation PCL's current ROCE % is 14.50%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asia Aviation PCL stock overvalued right now?
Based on GuruFocus' analysis, Asia Aviation PCL (BKK:AAV) is currently considered Possible Value Trap. The stock's GF Value™ is ฿2.18, compared to a current price of ฿1.07 — trading 50.9% below its estimated fair value. The current ROCE % is 14.50% and 87.6% above the Transportation industry median of 7.73. Asia Aviation PCL's overall GF Score™ is 65/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For Asia Aviation PCL (BKK:AAV), the current ROCE % is 14.50% 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 Asia Aviation PCL (BKK:AAV) Overvalued in 2026?

Based on GuruFocus' analysis, Asia Aviation PCL stock appears to be undervalued. The current stock price of ฿1.07 is trading 50.9% below its estimated GF Value™ of ฿2.18. GuruFocus considers Asia Aviation PCL to be Possible Value Trap.

Key valuation signals for BKK:AAV:

  • ROCE %: 14.50%
  • GF Value™: ฿2.18 vs. price of ฿1.07 (50.9% below fair value)
  • GF Score™: 65/100 with 6 warning signs
  • Industry Position: 87.6% above the Transportation median

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

Asia Aviation PCL Business Description

Other Exchanges 55AA:Germany
Address Vibhavadee Rangsit Road, 3rd Floor, Central Office Building, Room No. 3200, 222, Don Mueang International Airport, Sanam Bin District, Don Mueang District, Bangkok, THA, 10210
Asia Aviation PCL is a holding company for Thai AirAsia Company Ltd that is engaged in investing in a low-fare airline business company. It has two reportable operating segments: Schedule flight operations and Chartered flight operations. The majority of the group's revenue is generated from the Schedule flight operations segment, which provides passenger air transportation services to routine destinations for scheduled flights. The group sells tickets through its distribution channels such as website, sales counter, travel agents, etc. The Chartered flight operations offer passenger air transportation services to non-routine destinations. Flights are operated when there is a booking from customers, normally tourist agency companies. Geographically, the group operates only in Thailand.
65GF Score

Get the complete analysis for BKK:AAV

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

฿1.07
Price
฿2.18
GF Value