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Advanced Info Service PCL (AVIFY) AI Stock Analysis

AVIFY

Advanced Info Service PCL

(Other OTC:AVIFY)

Select Model
Rating:70Outperform
Price Target:$11.00▲(11.73% Upside)
Action:reiterated
Date:11/03/26

Overall score reflects strong operating profitability and cash generation but with a meaningful balance-sheet risk from sharply higher leverage. Valuation is supported by a very high dividend yield, while technical indicators point to a weaker longer-term trend and muted momentum. Earnings call tone was constructive with guidance strength, but refinancing and ARPU-related risks temper the outlook.

Positive Factors
Strong Profitability and Cash GenerationAIS combines strong margins with improving cash generation, indicating that reported earnings are translating into substantial internally generated funds. This supports network investment, service development and shareholder returns while strengthening the company’s ability to fund operations through the cycle.
Negative Factors
Elevated LeverageThe sharp increase in leverage materially reduces AIS’s balance-sheet flexibility and makes financial performance more sensitive to funding conditions. Although returns on equity are high, the pack says they are amplified by the reduced equity base, so the capital structure remains a durable risk.

Advanced Info Service PCL (AVIFY) vs. SPDR S&P 500 ETF (SPY)

-10%0%10%20%30%40%AVIFY+11.07%SPY+12.20%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
$29.28B
Dividend Yield
10.25%
Average Volume (3M)
1,315
Price to Earnings (P/E)
18.7
Beta (1Y)
0.30
Revenue Growth
9.04%
EPS Growth
42.50%
Country
US
Employees
12,909
Sector
Communication Services
Sector Strength
60
Industry
Telecommunications Services

Advanced Info Service PCL Business Overview & Revenue Model

Company Description

Advanced Info Service Public Company Limited, together with its affiliated entities, serves as a leading provider of mobile communication networks, fixed-line internet, and a broad spectrum of digital services, predominantly within Thailand. Establis...

How the Company Makes Money

AIS primarily makes money by selling telecommunications and related digital services to consumers and organizations in Thailand. Key revenue streams typically include: (1) Mobile service revenue: recurring charges and usage-based fees from prepaid an...

Advanced Info Service PCL Earnings Call Summary

Earnings Call Date:Nov 02, 2026(Q3-2026)|Next Earnings Date:Nov 02, 2026
Earnings Call SentimentPositive

The call was predominantly positive. AIS reported resilient revenue and earnings growth, exceeded guidance across key financial metrics, expects full-year core service revenue near the upper end of guidance and EBITDA above guidance, and highlighted strong mobile data, broadband, retail, network and strategic investment initiatives. The main cautions were seasonal and economic pressure, flat mobile revenue quarter-on-quarter, lower prepaid subscribers and postpaid ARPU, eSIM-related roaming effects, upcoming refinancing needs, and uncertainty around GridBank losses and future spectrum availability.

Positive Updates

Expanded 5G Advanced Uplink Coverage
AIS achieved 5G Advanced uplink coverage across 100% of outdoor areas in Bangkok and major cities across all 77 provinces, enabling upload speeds of up to twice as fast.

Negative Updates

Seasonal and Economic Headwinds
Third-quarter performance faced the typical seasonal slowdown and ongoing economic pressure. AIS also remained cautious about the fourth-quarter economic outlook because geopolitical risks remained elevated and higher living costs continued to weigh on consumer sentiment.

Company Guidance

Management said full year performance should be both crossing around the upper end of the guidance for core service revenue and EBITDA would exceed the guidance, with CapEx investment remaining on track. Going forward, SG&A is expected to be around 9% of the total revenue. Management is still looking for growth in 2027 across mobile, broadband, enterprise, new products and services, while the guideline for next year will come later in the year once the business plan is finalized; the fourth quarter is expected to maintain strong momentum and continued growth in handset sales, and fourth quarter overall IT spending is expected to be higher than third Q, with the trend still continuing next year. The Lao Telecom transaction is currently expected to be completed within this year.

Advanced Info Service PCL Financial Statement Overview

Summary

Strong profitability and improving cash generation support the operating profile (TTM margins remain robust; free cash flow growth is strong and cash conversion is solid). The main offset is a materially weaker balance sheet in TTM, with sharply higher leverage and reduced equity (debt-to-equity ~5.28), which increases financial risk and reduces flexibility.

Income Statement

86Very Positive

Balance Sheet

52Neutral

Cash Flow

78Positive
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue231.86B226.26B213.57B188.87B185.48B181.33B
Gross Profit98.80B89.80B78.18B63.49B59.31B59.88B
EBITDA128.39B123.18B113.37B94.88B90.23B91.81B
Net Income54.30B47.89B35.08B29.09B26.01B26.92B
Balance Sheet
Total Assets402.02B420.27B431.43B454.44B337.04B356.22B
Cash, Cash Equivalents and Short-Term Investments14.59B25.97B22.61B14.74B10.04B14.33B
Total Debt276.22B192.21B213.63B242.38B128.42B138.96B
Total Liabilities349.61B312.99B334.11B363.76B251.23B274.40B
Stockholders Equity52.31B107.18B97.22B90.58B85.69B81.70B
Cash Flow
Free Cash Flow92.31B73.67B78.61B36.65B38.05B41.34B
Operating Cash Flow115.23B120.81B116.62B87.64B81.40B86.63B
Investing Cash Flow-48.45B-47.24B-36.93B-77.99B-43.00B-45.35B
Financing Cash Flow-74.69B-70.83B-71.83B-3.93B-42.14B-46.96B

Advanced Info Service PCL Technical Analysis

Technical Analysis SentimentNeutral
Last Price9.85

Price Trends

50DMA10.30Negative
100DMA10.62Negative
200DMA10.78Negative

Market Momentum

MACD-0.10Negative
RSI44.23Neutral
STOCH58.92Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AVIFY, the sentiment is Neutral. The current price of 9.85 is below the 20-day moving average (MA) of 9.96, below the 50-day MA of 10.30, and below the 200-day MA of 10.78, indicating a neutral trend. The MACD of -0.10 indicates Negative momentum. The RSI at 44.23 is Neutral, neither overbought nor oversold. The STOCH value of 58.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AVIFY.

Advanced Info Service PCL Peers Comparison

Overall Rating

UnderperformOutperform
Sector (60)

Financial Indicators

AVIFY against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
CHTCHT84Outperform$37.99B35.848.91%3.29%-10.33%-10.39%
PHIPHI72Outperform$3.82B9.2022.35%8.53%-1.72%-18.30%
AVIFYAVIFY70Outperform$29.81B18.7257.38%10.25%9.04%42.50%
SKMSKM65Neutral$11.87B22.915.74%2.11%-7.65%-32.07%
TLKTLK63Neutral$10.81B11.9912.77%11.32%-3.29%-28.64%
VODVOD63Neutral$36.98B-71.08-0.79%3.43%16.69%87.12%
Sector *60Neutral$48.67B4.58-11.27%4.14%2.83%-41.78%

* Communication Services Sector Average

Performance Comparison

0%50%100%AVIFYCHTTLKPHISKMVODDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
AVIFY and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
AVIFYAdvanced Info Service9.981.0712.00%
CHTChunghwa Telecom48.917.9419.37%
TLKP.t. Telekomunikasi Indonesia Tbk.10.85-8.85-44.93%
PHIPLDT, Inc.17.79-0.73-3.92%
SKMSk Telecom30.1810.0349.78%
VODVodafone Group Plc15.654.8044.28%
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.

Date of analysis: Nov 03, 2026