Bangkok Aviation Fuel Services PCL (BKK:BAFS) Scaled Net Operating Assets: 0.86 (As of Mar. 2026)


BKK:BAFS Bangkok Aviation Fuel Services PCL BKK:BAFS
70 GF Score
Price ฿9.45
GF Value ฿15.58
Valuation Possible Value Trap
! 9 Warning Signs
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What is Bangkok Aviation Fuel Services PCL Scaled Net Operating Assets?

Bangkok Aviation Fuel Services PCL BKK:BAFS -0.53% 70 Scaled Net Operating Assets is 0.86 as of Mar. 2026. GuruFocus rates BKK:BAFS with a GF Score™ of 70/100 and a GF Value™ of ฿15.58 (Possible Value Trap). The stock has 9 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Bangkok Aviation Fuel Services PCL's operating assets for the quarter that ended in Mar. 2026 was ฿21,329 Mil. Bangkok Aviation Fuel Services PCL's operating liabilities for the quarter that ended in Mar. 2026 was ฿2,570 Mil. Bangkok Aviation Fuel Services PCL's Total Assets for the quarter that ended in Dec. 2025 was ฿21,845 Mil. Therefore, Bangkok Aviation Fuel Services PCL's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.86.


Bangkok Aviation Fuel Services PCL Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Bangkok Aviation Fuel Services PCL's Scaled Net Operating Assets 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.

Bangkok Aviation Fuel Services PCL Scaled Net Operating Assets Chart

Bangkok Aviation Fuel Services PCL Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.07 0.82 0.82 0.82 0.86

Bangkok Aviation Fuel Services PCL Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets 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 0.85 0.85 0.83 0.85 0.86

BKK:BAFS vs JOBY, CAAP: Scaled Net Operating Assets Comparison

For the Airports & Air Services subindustry, Bangkok Aviation Fuel Services PCL's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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.


Bangkok Aviation Fuel Services PCL Scaled Net Operating Assets vs Transportation Industry

For the Transportation industry and Industrials sector, Bangkok Aviation Fuel Services PCL's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Bangkok Aviation Fuel Services PCL's Scaled Net Operating Assets falls into.


BKK:BAFS
70GF Score
Bangkok Aviation Fuel Services PCL BKK:BAFS
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Bangkok Aviation Fuel Services PCL Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Bangkok Aviation Fuel Services PCL's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(21352.794-2656.269)/21800.548
=0.86

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=21845.085 - 492.291
=21352.794

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=15485.305 - 11297.419 - 1531.617
=2656.269

Bangkok Aviation Fuel Services PCL's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(21328.668-2570.382)/21845.085
=0.86

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=21936.838 - 608.17
=21328.668

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=15466.908 - 11104.282 - 1792.244
=2570.382

* 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.

What does a Scaled Net Operating Assets of 0.86 mean?
Bangkok Aviation Fuel Services PCL (BKK:BAFS) has a Scaled Net Operating Assets of 0.86 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Bangkok Aviation Fuel Services PCL and its competitors.
Is Bangkok Aviation Fuel Services PCL's Scaled Net Operating Assets too high?
Bangkok Aviation Fuel Services PCL's current Scaled Net Operating Assets is 0.86. Overall, Bangkok Aviation Fuel Services PCL has a GF Score™ of 70/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Bangkok Aviation Fuel Services PCL's Scaled Net Operating Assets compare to JOBY and CAAP?
Bangkok Aviation Fuel Services PCL's Scaled Net Operating Assets of 0.86 can be compared against companies in the Transportation industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Transportation company?
A good Scaled Net Operating Assets depends on the Transportation industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Bangkok Aviation Fuel Services PCL and its competitors. Bangkok Aviation Fuel Services PCL's current Scaled Net Operating Assets is 0.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bangkok Aviation Fuel Services PCL stock overvalued right now?
Based on GuruFocus' analysis, Bangkok Aviation Fuel Services PCL (BKK:BAFS) is currently considered Possible Value Trap. The stock's GF Value™ is ฿15.58, compared to a current price of ฿9.45 — trading 39.3% below its estimated fair value. The current Scaled Net Operating Assets is 0.86. Bangkok Aviation Fuel Services PCL's overall GF Score™ is 70/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Bangkok Aviation Fuel Services PCL (BKK:BAFS), the current Scaled Net Operating Assets is 0.86 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 Bangkok Aviation Fuel Services PCL (BKK:BAFS) Overvalued in 2026?

Based on GuruFocus' analysis, Bangkok Aviation Fuel Services PCL stock appears to be undervalued. The current stock price of ฿9.45 is trading 39.3% below its estimated GF Value™ of ฿15.58. GuruFocus considers Bangkok Aviation Fuel Services PCL to be Possible Value Trap.

Key valuation signals for BKK:BAFS:

  • Scaled Net Operating Assets: 0.86
  • GF Value™: ฿15.58 vs. price of ฿9.45 (39.3% below fair value)
  • GF Score™: 70/100 with 9 warning signs

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


Bangkok Aviation Fuel Services PCL Business Description

Address 171/2 Kamphang Phet 6 Road, Don Mueang, Khet Don Mueang, Bangkok, THA, 10210
Bangkok Aviation Fuel Services PCL provides fuel services and storage for multiple airports in Thailand. The company has three operating segments: The aviation segment, the Utility and Power segment, and the business solution segment. The aviation segment provides in-plane service, manufacture, and assembly of hydrant dispensers. The utilities and power segment provides fuel pipeline transportation services, as well as the generation and distribution of electricity from solar power to the government. The business solution segment involves the development, design, manufacture, and sales of innovation and digital products, including the provision of other services. The majority of its revenue is generated from the Aviation segment.
70GF Score

Get the complete analysis for BKK:BAFS

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

฿9.45
Price
฿15.58
GF Value