Airports of Thailand Public (AIPUY) AI Stock Analysis

• Market Cap: $24.28B
• Dividend Yield: 1.08%
• Average Volume (3M): 207.00
• Price to Earnings (P/E): 39.4
• Beta (1Y): 0.97
• Revenue Growth: 6.27%
• EPS Growth: 0.96%
• Country: US
• Employees: 4,094
• Sector: Industrials
• Sector Strength: 72
• Industry: Airlines, Airports & Air Services
• EPS (TTM): 0.10
• Shares Outstanding: 1,428,570,000
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 207
• PEG Ratio: -5.75
• Price to Book (P/B): 4.16
• Price to Sales (P/S): 8.17
• P/FCF Ratio: 27.49
• Enterprise Value/Market Cap: 34.78
• Enterprise Value/Revenue: 12.82
• Enterprise Value/Gross Profit: 23.72
• Enterprise Value/Ebitda: 22.91
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: $13.50 ▼(-16.36% Downside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 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.

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...

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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...

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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

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

• Technical Analysis Sentiment: Positive
• Last Price: 16.14
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: 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 12.80, above the 50-day MA of 15.01, and above the 200-day MA of 13.09, indicating a bullish trend. The MACD of -0.35 indicates Negative momentum. The RSI at 75.31 is Negative, neither overbought nor oversold. The STOCH value of 33.30 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OMAB	79 Outperform	$5.64B	19.42	52.26%	4.03%	-2.04%	-3.82%
RYAAY	73 Outperform	$32.63B	269.96	27.85%	1.37%	14.75%	71.73%
ASR	69 Neutral	$10.69B	16.66	30.03%	11.85%	8.70%	-21.15%
CAAP	69 Neutral	$4.34B	17.03	17.03%	―	14.87%	-47.71%
AIPUY	66 Neutral	$24.28B	39.38	13.50%	1.08%	6.27%	0.96%
PAC	65 Neutral	$12.73B	23.99	44.97%	4.46%	11.58%	1.15%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%