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Bangkok Airways PCL
SET:BA

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Bangkok Airways PCL
SET:BA
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Price: 13.6 THB 0.74%
Market Cap: ฿28.6B

EV/EBIT

5.4
Current
43%
Cheaper
vs 3-y median of 9.4

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
5.4
=
Enterprise Value
฿28.9B
/
EBIT
฿5B

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
5.4
=
Enterprise Value
฿28.9B
/
EBIT
฿5B

Valuation Scenarios

Bangkok Airways PCL is trading below its 3-year average

If EV/EBIT returns to its 3-Year Average (9.4), the stock would be worth ฿23.66 (74% upside from current price).

Statistics
Positive Scenarios
4/4
Maximum Downside
No Downside Scenarios
Maximum Upside
+117%
Average Upside
53%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 5.4 ฿13.6
0%
3-Year Average 9.4 ฿23.66
+74%
5-Year Average 5.8 ฿14.74
+8%
Industry Average 6.1 ฿15.33
+13%
Country Average 11.7 ฿29.49
+117%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
฿28.9B
/
Jan 2026
฿5B
=
5.4
Current
฿28.9B
/
Dec 2026
฿4.5B
=
6.4
Forward
฿28.9B
/
Dec 2027
฿4.5B
=
6.4
Forward
฿28.9B
/
Dec 2028
฿5.6B
=
5.2
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close

Market Distribution

Lower than 90% of companies in Thailand
Percentile
10th
Based on 357 companies
10th percentile
5.4
Low
0.4 — 8.7
Typical Range
8.7 — 15.7
High
15.7 —
Distribution Statistics
Thailand
Min 0.4
30th Percentile 8.7
Median 11.7
70th Percentile 15.7
Max 2 524.8

Bangkok Airways PCL
Glance View

Market Cap
28.6B THB
Industry
Airlines

Nestled within the vibrant landscape of Thailand's aviation industry, Bangkok Airways PCL is a unique player that has carved its niche by promoting itself as "Asia's Boutique Airline." The company, established in 1968, has its origins in providing dependable air transport services, but it has grown into a multifaceted business model that goes beyond merely transporting passengers from one destination to the next. With a strong focus on regional routes, particularly within Thailand and its neighboring countries, Bangkok Airways leverages its own network of airports, including those in key destinations like Koh Samui and Sukhothai. This strategic control over certain airport operations allows the airline to optimize its route offerings and create a seamless travel experience tailored to leisure and business travelers alike. By maintaining a focus on lifestyle and service, Bangkok Airways differentiates itself in a highly competitive industry, providing added value through complimentary services such as access to airport lounges, meals, and generous baggage allowances even in economy class. Revenue for Bangkok Airways comes from a combination of passenger services, airport services, and ancillary operations. The company has successfully managed to build a symbiotic relationship between its airline and airport operations. By owning and operating its airports, Bangkok Airways reduces dependency on third-party infrastructure, thus controlling costs and maintaining high service standards for its passengers. Besides regular domestic and international flights, the airline earns through various means including cargo services, flight reservations, and code-sharing partnerships with other international carriers, further expanding its market reach. This diversified approach not only ensures steady income streams but also strengthens its competitive position, allowing it to navigate the dynamic challenges of the aviation sector adeptly.

BA Intrinsic Value
19.67 THB
Undervaluation 31%
Intrinsic Value
Price ฿13.6
B
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