TAWNF (Thai Airways International PCL) ROCE %: 25.04% (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 ROCE %?

Thai Airways International PCL TAWNF +1.47% 41 ROCE % is 25.04% 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.

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. Thai Airways International PCL's annualized ROCE % for the quarter that ended in Mar. 2026 was 25.04%.

Thai Airways International PCL  (OTCPK:TAWNF) 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.

Thai Airways International PCL ROCE % Related Terms

Thai Airways International PCL ROCE % Historical Data

* Premium members only.

The historical data trend for Thai Airways International 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.

Thai Airways International PCL ROCE % Chart

Thai Airways International 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 1,196.32 8.71 28.26 -4.11 19.53

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
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 24.40 28.58 13.83 9.34 25.04
TAWNF
41GF Score
Thai Airways International PCL TAWNF
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Thai Airways International PCL ROCE % Calculation

Thai Airways International 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 )
=1318.168/( ( (8567.077 - 2243.108) + (9629.742 - 2457.246) )/ 2 )
=1318.168/( (6323.969+7172.496)/ 2 )
=1318.168/6748.2325
=19.53 %

Thai Airways International 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 )
=1839.204/( ( (9629.742 - 2457.246) + (10059.369 - 2539.119) )/ 2 )
=1839.204/( ( 7172.496 + 7520.25 )/ 2 )
=1839.204/7346.373
=25.04 %

(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 25.04% mean?
Thai Airways International PCL (TAWNF) has a ROCE % of 25.04% as of Mar. 2026.
Is Thai Airways International PCL's ROCE % too high?
Thai Airways International PCL's current ROCE % is 25.04%. The Transportation industry median ROCE % is 7.73. Thai Airways International PCL's value of 25.04% is 223.9% above this industry median. 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 ROCE % compare to DAL and UAL?
Thai Airways International PCL's ROCE % of 25.04% can be compared against companies in the Transportation industry. The industry median ROCE % is 7.73. Thai Airways International PCL's value of 25.04% is 223.9% 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 997 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. Thai Airways International PCL's current ROCE % of 25.04% is 223.9% 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. Thai Airways International PCL's current ROCE % is 25.04%. 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 ROCE % is 25.04% and 223.9% above the Transportation industry median of 7.73. 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 ROCE % calculated?
ROCE % is calculated from a company's financial statements. For Thai Airways International PCL (TAWNF), the current ROCE % is 25.04% 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:

  • ROCE %: 25.04%
  • GF Value™: $0.01 vs. price of $0.18 (1700% above fair value)
  • GF Score™: 41/100 with 4 warning signs
  • Industry Position: 223.9% above the Transportation median

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

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

$0.18
Price
$0.01
GF Value