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Airports of Thailand Public
(OTC:AIPUY)
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Rating:64Neutral
Price Target:
$21.50
â–²(7.93% Upside)
Action:Reiterated
Date:08/19/26
The score is primarily supported by strong cash flow and an improving balance sheet, partially offset by the sharp TTM revenue contraction. Technicals show an established uptrend but with stretched/weakening momentum signals, and the high P/E with only a modest dividend yield weighs on the overall score.
Positive Factors
Cash Generation
Strong TTM operating cash flow and high free cash flow relative to net income indicate effective earnings conversion. This supports internal funding for airport upkeep, expansion and commercial initiatives, while providing resilience when traffic or macro conditions fluctuate.
Negative Factors
Revenue Contraction
Sharp TTM revenue contraction is a fundamental concern because airport earnings depend on passenger volumes, aircraft movements and tenant activity. If normalization persists, weaker top-line growth could reduce operating leverage and make current profit and cash-flow strength harder to sustain.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Strong TTM operating cash flow and high free cash flow relative to net income indicate effective earnings conversion. This supports internal funding for airport upkeep, expansion and commercial initiatives, while providing resilience when traffic or macro conditions fluctuate.
Read all positive factors
Airports of Thailand Public (AIPUY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$26.51B
Dividend Yield1.28%
Average Volume (3M)39.00
Price to Earnings (P/E)46.9
Beta (1Y)1.02
Revenue Growth3.05%
EPS Growth6.57%
CountryUS
Employees4,094
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)13.10
Shares Outstanding1,428,570,000
10 Day Avg. Volume0
30 Day Avg. Volume39
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
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 (AOT), alongside its subsidiary entities, is a pivotal organization dedicated to the development, oversight, and operation of international air travel hubs throughout Thailand. The company's extensive ac...
How the Company Makes Money
AOT primarily makes money by operating airports and charging for both aviation-related services and non-aviation commercial activities.
1) Aviation (aeronautical) revenue: AOT earns fees tied directly to aircraft operations and passenger processi...
Airports of Thailand Public Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
86
Very Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 65.97B | 66.68B | 67.12B | 48.28B | 16.56B | 7.09B |
| Gross Profit | 40.10B | 36.83B | 38.94B | 30.49B | -2.93B | -11.10B |
| EBITDA | 37.46B | 37.90B | 38.71B | 23.07B | -2.00B | -8.54B |
| Net Income | 18.68B | 18.13B | 19.18B | 8.79B | -11.09B | -16.32B |
Balance Sheet | ||||||
| Total Assets | 207.01B | 209.93B | 206.15B | 195.61B | 183.81B | 195.09B |
| Cash, Cash Equivalents and Short-Term Investments | 24.23B | 19.47B | 18.54B | 6.10B | 3.82B | 17.10B |
| Total Debt | 46.73B | 50.25B | 54.23B | 61.48B | 61.56B | 64.03B |
| Total Liabilities | 70.64B | 77.09B | 79.75B | 83.43B | 81.29B | 81.66B |
| Stockholders Equity | 134.16B | 130.90B | 124.23B | 110.46B | 101.32B | 112.34B |
Cash Flow | ||||||
| Free Cash Flow | 32.24B | 19.81B | 27.96B | 5.27B | -9.74B | -20.35B |
| Operating Cash Flow | 34.81B | 29.34B | 41.06B | 16.87B | -171.36M | -11.93B |
| Investing Cash Flow | -5.03B | -9.49B | -13.13B | -11.56B | -936.40M | 20.56B |
| Financing Cash Flow | -19.37B | -18.94B | -15.53B | -3.02B | -3.57B | -5.98B |
Airports of Thailand Public Technical Analysis
Positive
19.92
Price Trends
18.34
Positive
17.26
Positive
16.18
Positive
Market Momentum
0.58
Positive
88.55
Negative
>-0.01
Positive
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 19.92 is above the 20-day moving average (MA) of 19.41, above the 50-day MA of 18.34, and above the 200-day MA of 16.18, indicating a bullish trend. The MACD of 0.58 indicates Positive momentum. The RSI at 88.55 is Negative, neither overbought nor oversold. The STOCH value of >-0.01 is Positive, 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $7.53B | 12.87 | 31.71% | 8.76% | 23.46% | -12.16% | |
76 Outperform | $4.75B | 14.89 | 50.53% | 5.46% | 13.97% | 14.66% | |
71 Outperform | $12.08B | 17.12 | 39.76% | 3.83% | 16.80% | 17.58% | |
67 Neutral | $4.01B | 14.46 | 16.62% | 3.75% | 16.22% | 102.59% | |
64 Neutral | $26.51B | 46.95 | 14.09% | 1.28% | 3.05% | 6.57% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
AIPUY
Airports of Thailand Public
19.92
9.81
97.07%
OMAB
Grupo Aeroportuario Del Centro
98.73
-7.83
-7.35%
PAC
Grupo Aeroportuario del Pacifico
203.46
-47.75
-19.01%
ASR
Grupo Aeroportuario del Sureste
251.77
-70.44
-21.86%
CAAP
Corporacion America Airports SA
24.59
6.05
32.60%
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.