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Asia Aviation PCLBKK:AAV 65 ROE % is 24.05% as of Mar. 2026, which is 699% above its 10-year median of 3.01. 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. Among 986 Transportation companies, Asia Aviation PCL ranks better than 73.02% on this metric.
The historical rank and industry rank for Asia Aviation PCL's ROE % or its related term are showing as below:
BKK:AAV'
s ROE % Range Over the Past 10 Years
Min: -57.04 Med: 3.01 Max: 35.15
Current: 13.59
During the past 13 years, Asia Aviation PCL's highest ROE % was 35.15%. The lowest was -57.04%. And the median was 3.01%.
BKK:AAV's ROE % is ranked better than 73.02% of 986
companies
in the Transportation industry
Industry Median: 7.595
vs BKK:AAV: 13.59
Asia Aviation PCL (BKK:AAV) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
Asia Aviation PCL ROE % Related Terms
Asia Aviation PCL ROE % Historical Data
* Premium members only.
The historical data trend for Asia Aviation PCL's ROE % 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.
For the Airlines subindustry, Asia Aviation PCL's ROE %, along with its competitors' market caps and ROE % 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.
Asia Aviation PCL ROE % vs Transportation Industry
For the Transportation industry and Industrials sector, Asia Aviation PCL's ROE % distribution charts can be found below:
* The bar in red indicates where Asia Aviation PCL's ROE % falls into.
* 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.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
Asia Aviation PCL (BKK:AAV) has a ROE % of 24.05% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Asia Aviation PCL and its competitors. This is 699% above median its historical median of 3.01. According to the industry distribution chart, Asia Aviation PCL ranks #266 out of 986 companies in the Transportation industry, placing it in the top 27%.
Is Asia Aviation PCL's ROE % too high?
Asia Aviation PCL's current ROE % of 24.05% is 699% above median its 10-year median of 3.01. The Transportation industry median ROE % is 7.60. Asia Aviation PCL's value of 24.05% is 216.7% above this industry median. Based on the distribution chart, Asia Aviation PCL ranks #266 out of 986 companies in the Transportation industry, which is above the industry midpoint. 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 ROE % compare to DAL and UAL?
According to the Transportation industry distribution chart, Asia Aviation PCL ranks #266 out of 986 companies for ROE %. This puts Asia Aviation PCL in the upper half of its industry. The industry median ROE % is 7.60. Asia Aviation PCL's value of 24.05% is 216.7% above this benchmark. While the company's 10-year median is 3.01 vs. the industry median of 7.60, Asia Aviation 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 ROE % for a Transportation company?
The median ROE % among Transportation companies is 7.60, based on 986 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Asia Aviation PCL's current ROE % of 24.05% is 216.7% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Asia Aviation PCL and its competitors. For the Transportation industry, the median ROE % is 7.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asia Aviation PCL's current ROE % is 24.05%, which is 699% above median its own 10-year median of 3.01. 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 ROE % is 24.05%, which is 699% above median its 10-year median of 3.01 and 216.7% above the Transportation industry median of 7.60. 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 ROE % calculated?
ROE % is calculated from a company's financial statements. For Asia Aviation PCL (BKK:AAV), the current ROE % is 24.05% 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:
ROE %: 24.05% (699% above median its 10-year median of 3.01)
GF Value™: ฿2.18 vs. price of ฿1.07 (50.9% below fair value)
Industry Position: 216.7% above the Transportation median (#266 of 986)
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.
AddressVibhavadee 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
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