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Asia Aviation PCLBKK:AAV 65 3-Year ROIIC % is 331.85 as of Dec. 2025. 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 938 Transportation companies, Asia Aviation PCL ranks better than 97.87% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Asia Aviation PCL's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 331.85%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Asia Aviation PCL's 3-Year ROIIC % or its related term are showing as below:
BKK:AAV's 3-Year ROIIC % is ranked better than 97.87% of 938
companies
in the Transportation industry
Industry Median: 2.005
vs BKK:AAV: 331.85
Asia Aviation PCL (BKK:AAV) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Asia Aviation PCL 3-Year ROIIC % Related Terms
Asia Aviation PCL 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Asia Aviation PCL's 3-Year ROIIC % 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.
BKK:AAV vs DAL, UAL, LUV: 3-Year ROIIC % Comparison
For the Airlines subindustry, Asia Aviation PCL's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Transportation Industry
For the Transportation industry and Industrials sector, Asia Aviation PCL's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Asia Aviation PCL's 3-Year ROIIC % 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Asia Aviation PCL (BKK:AAV) has a 3-Year ROIIC % of 331.85 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Asia Aviation PCL and its competitors. According to the industry distribution chart, Asia Aviation PCL ranks #20 out of 938 companies in the Transportation industry, placing it in the top 2.1%.
Is Asia Aviation PCL's 3-Year ROIIC % too high?
Asia Aviation PCL's current 3-Year ROIIC % is 331.85. The Transportation industry median 3-Year ROIIC % is 2.01. Asia Aviation PCL's value of 331.85 is 16451.1% above this industry median. Based on the distribution chart, Asia Aviation PCL ranks #20 out of 938 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. 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 3-Year ROIIC % compare to DAL and UAL?
According to the Transportation industry distribution chart, Asia Aviation PCL ranks #20 out of 938 companies for 3-Year ROIIC %. This places Asia Aviation PCL in the top 2% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 2.01. Asia Aviation PCL's value of 331.85 is 16451.1% 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 3-Year ROIIC % for a Transportation company?
The median 3-Year ROIIC % among Transportation companies is 2.01, based on 938 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Asia Aviation PCL's current 3-Year ROIIC % of 331.85 is 16451.1% 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 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Asia Aviation PCL and its competitors. For the Transportation industry, the median 3-Year ROIIC % is 2.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asia Aviation PCL's current 3-Year ROIIC % is 331.85. 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 ฿1.06 — trading 51.4% below its estimated fair value. The current 3-Year ROIIC % is 331.85 and 16451.1% above the Transportation industry median of 2.01. 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 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Asia Aviation PCL (BKK:AAV), the current 3-Year ROIIC % is 331.85 as of Dec. 2025. 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 ฿1.06 is trading 51.4% below its estimated GF Value™ of ฿2.18.
GuruFocus considers Asia Aviation PCL to be Possible Value Trap.
Key valuation signals for BKK:AAV:
3-Year ROIIC %: 331.85
GF Value™: ฿2.18 vs. price of ฿1.06 (51.4% below fair value)
Industry Position: 16451.1% above the Transportation median (#20 of 938)
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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