Airports of Thailand Public (AIPUY)
OTHER OTC:AIPUY
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Airports of Thailand Public
(OTC:AIPUY)
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Rating:66Neutral
Price Target:
$13.50
▼(-16.36% Downside)
Action:ReiteratedDate:02/18/26
The score is driven primarily by solid financial recovery and strong margins with improving leverage, supported by a technically positive trend. These are tempered by a premium valuation (high P/E and modest yield) and evidence of slowing revenue momentum with some cash-conversion friction.
Positive Factors
Strong Profitability
Post-pandemic margins near 27% reflect a durable recovery in core airport operations and commercial income. Sustained high margins provide capacity to fund maintenance, commercial investments, and absorb weaker traffic periods, supporting long-term cash generation and shareholder returns.
Negative Factors
Slowing Revenue Momentum
Revenue momentum has cooled after the sharp rebound, indicating demand normalization and potential pressure on airport fee and concession growth. Sustained flat or declining top line would limit the firm's ability to expand margins further or accelerate deleveraging over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Profitability
Post-pandemic margins near 27% reflect a durable recovery in core airport operations and commercial income. Sustained high margins provide capacity to fund maintenance, commercial investments, and absorb weaker traffic periods, supporting long-term cash generation and shareholder returns.
Read all positive factors
Airports of Thailand Public (AIPUY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$22.60B
Dividend Yield1.08%
Average Volume (3M)207.00
Price to Earnings (P/E)39.4
Beta (1Y)1.07
Revenue Growth2.16%
EPS Growth-6.51%
CountryUS
Employees4,094
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)12.20
Shares Outstanding1,428,570,000
10 Day Avg. Volume0
30 Day Avg. Volume207
Financial Highlights & Ratios
PEG Ratio-5.75
Price to Book (P/B)4.16
Price to Sales (P/S)8.17
P/FCF Ratio27.49
Enterprise Value/Market Cap35.15
Enterprise Value/Revenue12.06
Enterprise Value/Gross Profit22.32
Enterprise Value/Ebitda21.55
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Airports of Thailand Public Business Overview & Revenue Model
Company Description
Airports of Thailand Public Company Limited, together with its subsidiaries, engages in developing, managing, and operating international airports in Thailand. The company operates through Airport Management Business, Hotel Business, Ground Aviati...
How the Company Makes Money
AOT primarily earns revenue by operating airports and charging for both aviation and non-aviation activities that occur on airport property. Key aviation-related revenue streams typically include fees paid by airlines and aviation service users fo...
Airports of Thailand Public Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
69
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 65.87B | 66.68B | 67.12B | 48.28B | 16.56B | 7.09B |
| Gross Profit | 35.60B | 36.83B | 38.94B | 30.49B | -2.93B | -11.10B |
| EBITDA | 36.86B | 37.90B | 38.71B | 23.07B | -2.00B | -8.54B |
| Net Income | 17.43B | 18.13B | 19.18B | 8.79B | -11.09B | -16.32B |
Balance Sheet | ||||||
| Total Assets | 206.92B | 209.93B | 206.15B | 195.61B | 183.81B | 195.09B |
| Cash, Cash Equivalents and Short-Term Investments | 21.19B | 19.47B | 18.54B | 6.10B | 3.82B | 17.10B |
| Total Debt | 44.67B | 50.25B | 54.23B | 61.48B | 61.56B | 64.03B |
| Total Liabilities | 69.35B | 77.09B | 79.75B | 83.43B | 81.29B | 81.66B |
| Stockholders Equity | 135.51B | 130.90B | 124.23B | 110.46B | 101.32B | 112.34B |
Cash Flow | ||||||
| Free Cash Flow | 24.33B | 19.81B | 27.96B | 5.27B | -9.74B | -20.35B |
| Operating Cash Flow | 33.29B | 29.34B | 41.06B | 16.87B | -171.36M | -11.93B |
| Investing Cash Flow | -8.92B | -9.49B | -13.13B | -11.56B | -936.40M | 20.56B |
| Financing Cash Flow | -18.80B | -18.94B | -15.53B | -3.02B | -3.57B | -5.98B |
Airports of Thailand Public Technical Analysis
Positive
16.14
Price Trends
15.08
Positive
15.09
Positive
13.33
Positive
Market Momentum
0.44
Negative
55.07
Neutral
58.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AIPUY, the sentiment is Positive. The current price of 16.14 is above the 20-day moving average (MA) of 14.00, above the 50-day MA of 15.08, and above the 200-day MA of 13.33, indicating a bullish trend. The MACD of 0.44 indicates Negative momentum. The RSI at 55.07 is Neutral, neither overbought nor oversold. The STOCH value of 58.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AIPUY.
Airports of Thailand Public Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $12.46B | 16.88 | 58.94% | 4.46% | 20.39% | 16.34% | |
73 Outperform | $29.14B | 269.96 | 27.85% | 1.37% | 16.68% | 51.06% | |
72 Outperform | $5.20B | 20.13 | 52.26% | 4.03% | 12.55% | 6.09% | |
69 Neutral | $4.12B | 10.00 | 17.03% | ― | 12.89% | -1.83% | |
66 Neutral | $22.60B | 39.38 | 13.50% | 1.08% | 2.16% | -6.51% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | $9.27B | 15.78 | 31.24% | 11.85% | 18.61% | -27.53% |
* Industrials Sector Average
AIPUY
Airports of Thailand Public
15.90
4.00
33.61%
OMAB
Grupo Aeroportuario Del Centro
108.02
16.34
17.82%
PAC
Grupo Aeroportuario del Pacifico
246.41
38.03
18.25%
ASR
Grupo Aeroportuario del Sureste
313.89
22.16
7.60%
RYAAY
Ryanair Holdings
56.60
7.55
15.39%
CAAP
Corporacion America Airports SA
25.10
3.92
18.51%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.