The historical rank and industry rank for Thai Airways International PCL's ROE % or its related term are showing as below:
BKK:THAI'
s ROE % Range Over the Past 10 Years
Min: -2345.94 Med: -25.48 Max: 50.95
Current: 43.4
During the past 13 years, Thai Airways International PCL's highest ROE % was 50.95%. The lowest was -2,345.94%. And the median was -25.48%.
BKK:THAI's ROE % is ranked better than 95.96% of 991
companies
in the Transportation industry
Industry Median: 7.6
vs BKK:THAI: 43.40
Thai Airways International PCL (BKK:THAI) 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.
Thai Airways International PCL ROE % Related Terms
Thai Airways International PCL ROE % 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.
For the Airlines subindustry, Thai Airways International 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.
Thai Airways International PCL ROE % vs Transportation Industry
For the Transportation industry and Industrials sector, Thai Airways International PCL's ROE % distribution charts can be found below:
* The bar in red indicates where Thai Airways International 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.
Thai Airways International PCL (BKK:THAI) has a ROE % of 49.12% 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 Thai Airways International PCL and its competitors. According to the industry distribution chart, Thai Airways International PCL ranks #40 out of 991 companies in the Transportation industry, placing it in the top 4%.
Is Thai Airways International PCL's ROE % too high?
Thai Airways International PCL's current ROE % is 49.12%. The Transportation industry median ROE % is 7.60. Thai Airways International PCL's value of 49.12% is 546.3% above this industry median. Based on the distribution chart, Thai Airways International PCL ranks #40 out of 991 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. 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 ROE % compare to DAL and UAL?
According to the Transportation industry distribution chart, Thai Airways International PCL ranks #40 out of 991 companies for ROE %. This places Thai Airways International PCL in the top 4% of its industry — outperforming the majority of peers. The industry median ROE % is 7.60. Thai Airways International PCL's value of 49.12% is 546.3% 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 ROE % for a Transportation company?
The median ROE % among Transportation companies is 7.60, based on 991 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. Thai Airways International PCL's current ROE % of 49.12% is 546.3% 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 Thai Airways International 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. Thai Airways International PCL's current ROE % is 49.12%. 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 ROE % is 49.12% and 546.3% above the Transportation industry median of 7.60. 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 ROE % calculated?
ROE % is calculated from a company's financial statements. For Thai Airways International PCL (BKK:THAI), the current ROE % is 49.12% 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:
ROE %: 49.12%
GF Value™: ฿0.35 vs. price of ฿6.10 (1642.9% above fair value)
Industry Position: 546.3% above the Transportation median (#40 of 991)
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
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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