Annuncio • May 30
Bangkok Airways Public Company Limited Appoints Puttipong Prasarttong-Osoth as Acting Chairman of the Board of Directors Effective from 28 May 2026 Bangkok Airways Public Company Limited informed that at the Board of Directors Meeting No.5/2026, held on 28 My 2026, passed the resolution to appoint Mr. Puttipong Prasarttong-Osoth, the Vice Chairman, to be an Acting Chairman of the Board of Directors effective from 28 May 2026 onwards. Reported Earnings • May 16
First quarter 2026 earnings: EPS exceeds analyst expectations First quarter 2026 results: EPS: ฿1.01 (up from ฿0.80 in 1Q 2025). Revenue: ฿7.70b (down 1.2% from 1Q 2025). Net income: ฿2.09b (up 25% from 1Q 2025). Profit margin: 27% (up from 22% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 21%. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Annuncio • Apr 22
Bangkok Airways Public Company Limited Announces Demise of Prasert Prasarttong- Osoth, Chairman of the Board Bangkok Airways Public Company Limited announced that Mr. Prasert Prasarttong-Osoth, Chairman of the Board, passed away on April 21, 2026. As a result, he is relieved of his position as of April 21, 2026. The Board of Directors will proceed to appoint an appropriate person to fill the vacant position. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ฿14.50, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Airlines industry in Asia. Total returns to shareholders of 29% over the past three years. Annuncio • Mar 05
Bangkok Airways Public Company Limited, Annual General Meeting, Apr 08, 2026 Bangkok Airways Public Company Limited, Annual General Meeting, Apr 08, 2026, at 13:00 SE Asia Standard Time. Location: hybrid meeting, meeting room 18th floor, the company`s head office, no. 99 mu 14 vibhavadee rangsit road, chom phon, sub-district, chatuchak district, bangkok Thailand New Risk • Mar 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.5% average weekly change). Reported Earnings • Mar 02
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: ฿1.69 (down from ฿1.80 in FY 2024). Revenue: ฿26.1b (up 2.2% from FY 2024). Net income: ฿3.55b (down 6.3% from FY 2024). Profit margin: 14% (down from 15% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to stay flat during the next 3 years compared to a 7.0% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Annuncio • Feb 27
Bangkok Airways Public Company Limited Proposes Cash Dividend for the Period from January 1, 2025 to December 31, 2025, Payable on April 22, 2026 Bangkok Airways Public Company Limited proposed to pay the addition cash dividend at THB 0.70 per share, from the net profit under non-BOI privilege . The Record Date to determine the name of shareholders who are entitled to receive the dividend is on 12 March 2026 (The XD, or the date on which a share purchaser will not be entitled to receive the dividend, will be on 11 March 2026). The dividend will be paid on 22 April 2026 subject to the approval of the AGM 2026. Shareholder's meeting date 8 April 2026. Paid from Operating period from January 1, 2025 to December 31, 2025. Reported Earnings • Nov 12
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: ฿0.50 (up from ฿0.32 in 3Q 2024). Revenue: ฿6.46b (up 3.8% from 3Q 2024). Net income: ฿1.04b (up 55% from 3Q 2024). Profit margin: 16% (up from 11% in 3Q 2024). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Declared Dividend • Aug 30
First half dividend of ฿0.50 announced Shareholders will receive a dividend of ฿0.50. Ex-date: 10th September 2025 Payment date: 26th September 2025 Dividend yield will be 8.9%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (45% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 09
Second quarter 2025 earnings: Revenues and EPS in line with analyst expectations Second quarter 2025 results: EPS: ฿0.19 (down from ฿0.34 in 2Q 2024). Revenue: ฿5.74b (up 4.3% from 2Q 2024). Net income: ฿401.7m (down 44% from 2Q 2024). Profit margin: 7.0% (down from 13% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿14.70, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Airlines industry in Asia. Total returns to shareholders of 77% over the past three years. New Risk • Jul 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.6% average weekly change). Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ฿11.20, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Airlines industry in Asia. Total returns to shareholders of 16% over the past three years. Annuncio • May 23
Bangkok Airways Public Company Limited (SET:BA) announces an Equity Buyback for 64,000,000 shares, representing 3.05% for THB 1,000 million. Bangkok Airways Public Company Limited (SET:BA) announces a share repurchase program. Under the program, the company will repurchase up to 64,000,000 shares, representing 3.05% for THB 1,000 million. The minimum price per share will not exceed the average closing price of 5 working days prior to each repurchase plus 15% of that average closing price. The purpose of the buyback is to maximize benefit from the company's excess liquidity and to increase the return on equity (ROE) and earning per share (EPS). The repurchased shares may be resold. The shares will be repurchased from available cash. The program will expire on December 2, 2025. As of March 13, 2025, the company had 2,100,000,000 shares. Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ฿13.30, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Airlines industry in Asia. Total returns to shareholders of 41% over the past three years. Reported Earnings • May 14
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: ฿0.001 (down from ฿0.89 in 1Q 2024). Revenue: ฿7.80m (down 100% from 1Q 2024). Net income: ฿1.67m (down 100% from 1Q 2024). Profit margin: 22% (down from 24% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.6%. Revenue is forecast to stay flat during the next 3 years compared to a 5.5% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Price Target Changed • May 09
Price target decreased by 11% to ฿21.91 Down from ฿24.56, the current price target is an average from 8 analysts. New target price is 46% above last closing price of ฿15.00. Stock is down 11% over the past year. The company is forecast to post earnings per share of ฿1.79 for next year compared to ฿1.80 last year. Annuncio • Apr 08
Bangkok Airways Public Company Limited Approves Dividend for the Year 2024, Payable on April 24, 2025 Bangkok Airways Public Company Limited announced at the AGM held on April 8, 2025, approved the additional dividend payment form the operation of the year 2024 at THB 0.70 per share, totaling THB 1,470,000,000 which are the whole profits derived from the business not being granted investment promotion from the BOI (Non-BOI), to shareholders whose names appear on the Record Date, which was scheduled on March 13, 2025. The dividend payment shall be made on April 24, 2025. Accordingly, the Company has already allocated its legal reserves in full; therefore, it was not necessary for the Company to allocate the profit as a legal reserve and the remaining net profit will be allocated as the Company's retained earnings. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ฿15.10, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Airlines industry in Asia. Total returns to shareholders of 54% over the past three years. Declared Dividend • Mar 01
Final dividend of ฿0.70 announced Shareholders will receive a dividend of ฿0.70. Ex-date: 12th March 2025 Payment date: 24th April 2025 Dividend yield will be 6.4%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (79% earnings payout ratio) and cash flows (47% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 2.3% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Annuncio • Feb 28
Bangkok Airways Public Company Limited, Annual General Meeting, Apr 08, 2025 Bangkok Airways Public Company Limited, Annual General Meeting, Apr 08, 2025, at 13:30 SE Asia Standard Time. Location: in form of hybrid meeting at meeting room 18th, floor, the company`s head office, no. 99 mu 14, vibhavadee rangsit road, chom phon sub-district, Thailand Annuncio • Feb 27
Bangkok Airways Public Company Limited Proposes Cash Dividend for the Operating Period from 01 January 2024 to 31 December 2024, Payable on 24 April 2025 Bangkok Airways Public Company Limited at the AGM to be held on 08 April 2025, proposed cash dividend for the Operating period from 01 January 2024 to 31 December 2024 of THB 0.70 per share on Common shareholders. The Record Date to determine the name of shareholders who are entitled to receive the dividend is on 13 March 2025 (The Ex-dividend or the date on which a share purchaser will not be entitled to receive the dividend, will be on 12 March 2025). The dividend will be paid on 24 April 2025. Buy Or Sell Opportunity • Dec 17
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.6% to ฿22.50. The fair value is estimated to be ฿28.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 56% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 2.5% in 2 years. Earnings are forecast to grow by 31% in the next 2 years. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: ฿0.32 (vs ฿0.91 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.32 (down from ฿0.91 in 3Q 2023). Revenue: ฿6.49b (up 23% from 3Q 2023). Net income: ฿671.2m (down 65% from 3Q 2023). Profit margin: 10% (down from 36% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 6.3% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Price Target Changed • Oct 31
Price target increased by 7.3% to ฿27.17 Up from ฿25.31, the current price target is an average from 5 analysts. New target price is 12% above last closing price of ฿24.30. Stock is up 75% over the past year. The company is forecast to post earnings per share of ฿1.59 for next year compared to ฿1.48 last year. Upcoming Dividend • Aug 28
Upcoming dividend of ฿0.60 per share Eligible shareholders must have bought the stock before 04 September 2024. Payment date: 19 September 2024. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of Thai dividend payers (6.6%). In line with average of industry peers (4.5%). Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ฿22.60, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 10x in the Airlines industry in Asia. Total returns to shareholders of 108% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿38.46 per share. Reported Earnings • Aug 10
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: ฿0.34 (up from ฿0.32 in 2Q 2023). Revenue: ฿5.77b (up 24% from 2Q 2023). Net income: ฿712.2m (up 6.3% from 2Q 2023). Profit margin: 12% (down from 14% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 7.9%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jul 26
Price target increased by 9.6% to ฿23.61 Up from ฿21.54, the current price target is an average from 5 analysts. New target price is 11% above last closing price of ฿21.20. Stock is up 44% over the past year. The company is forecast to post earnings per share of ฿1.41 for next year compared to ฿1.48 last year. Major Estimate Revision • May 30
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ฿23.1b to ฿23.6b. EPS estimate increased from ฿1.28 to ฿1.43 per share. Net income forecast to shrink 28% next year vs 5.2% decline forecast for Airlines industry in Thailand. Consensus price target up from ฿20.31 to ฿20.88. Share price was steady at ฿19.60 over the past week. Price Target Changed • May 29
Price target increased by 7.2% to ฿20.38 Up from ฿19.01, the current price target is an average from 6 analysts. New target price is 6.1% above last closing price of ฿19.20. Stock is up 35% over the past year. The company is forecast to post earnings per share of ฿1.43 for next year compared to ฿1.48 last year. Major Estimate Revision • May 20
Consensus EPS estimates increase by 25% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ฿0.978 to ฿1.22. Revenue forecast steady at ฿23.0b. Net income forecast to shrink 38% next year vs 4.4% growth forecast for Airlines industry in Thailand . Consensus price target up from ฿19.01 to ฿19.41. Share price rose 3.3% to ฿18.70 over the past week. Reported Earnings • May 14
First quarter 2024 earnings released: EPS: ฿0.89 (vs ฿0.42 in 1Q 2023) First quarter 2024 results: EPS: ฿0.89 (up from ฿0.42 in 1Q 2023). Revenue: ฿7.75b (up 36% from 1Q 2023). Net income: ฿1.87b (up 114% from 1Q 2023). Profit margin: 24% (up from 15% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Annuncio • Apr 27
Bangkok Airways Public Company Limited Announces Appointment of Prasert Prasarttong-Osoth as Chairman of the Board Bangkok Airways Public Company Limited at its board meeting held on 25 April 2024, passed the resolution to appoint Mr. Prasert Prasarttong-Osoth to be a Chairman of the Board effective from 25 April 2024 onwards. Annuncio • Apr 09
Bangkok Airways Public Company Limited Approves Dividend Payment of the Year 2023, Payable on April 23, 2024 Bangkok Airways Public Company Limited approved at its AGM held on April 9, 2024 dividend payment form the operation of the year 2023 at THB 0.50 per share, totaling THB 1,050,000,000 which are the whole profits derived from the business not being granted investment promotion from the BOI (Non-BOI), to shareholders whose names appear on the Record Date, which was scheduled on March 7, 2024. The dividend payment shall be made on April 23, 2024 and allocate the net profits as the legal reserve amounting to THB 22,000,000. The remaining net profit will be allocated as the Company's retained earnings. Annuncio • Apr 04
Bangkok Airways Public Company Limited Announces Demise of Kaset Rochananil, Chairman of the Board and Independent Director Bangkok Airways Public Company Limited announced that Air Chief Marshal Kaset Rochananil, Chairman of the Board and Independent Director passed away on April 3, 2024. As a result, he relingquished the above mentioned positions from April 3, 2024 onwards. The Board of Directors will proceed to appoint an appropriate person to fill the vacant position. Major Estimate Revision • Mar 08
Consensus EPS estimates increase by 27% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ฿21.2b to ฿22.8b. EPS estimate increased from ฿0.77 to ฿0.978 per share. Net income forecast to shrink 35% next year vs 2.5% growth forecast for Airlines industry in Thailand . Consensus price target broadly unchanged at ฿19.01. Share price fell 2.5% to ฿15.70 over the past week. New Risk • Mar 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Feb 28
Upcoming dividend of ฿0.50 per share Eligible shareholders must have bought the stock before 06 March 2024. Payment date: 23 April 2024. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 6.3%. Lower than top quartile of Thai dividend payers (6.4%). Higher than average of industry peers (3.5%). Annuncio • Feb 23
Bangkok Airways Public Company Limited, Annual General Meeting, Apr 09, 2024 Bangkok Airways Public Company Limited, Annual General Meeting, Apr 09, 2024, at 10:00 SE Asia Standard Time. Agenda: To consider Matter to be notified to the meeting by the Chairman; to acknowledge the Company's performance for 2023; to acknowledge the interim dividend payment; to approve financial statement which consists of statement of financial position and statement of comprehensive income as of December 31, 2023; to approve the allocation of profit and dividend payment; to approve the election of new Directors in replacement to those who retired by rotation; to approve the determination of remuneration for Board of Directors; to approve the appointment of Auditor and the determination of auditor fees for year 2024 and to consider other matters. Reported Earnings • Feb 23
Full year 2023 earnings released: EPS: ฿1.48 (vs ฿1.01 loss in FY 2022) Full year 2023 results: EPS: ฿1.48 (up from ฿1.01 loss in FY 2022). Revenue: ฿21.7b (up 77% from FY 2022). Net income: ฿3.11b (up ฿5.22b from FY 2022). Profit margin: 14% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to stay flat during the next 2 years compared to a 12% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Annuncio • Feb 22
Bangkok Airways Public Company Limited Proposes Cash Dividend for the Period from 1 January 2023 to 31 December 2023, Payable on 23 April 2024 Bangkok Airways Public Company Limited announced that at its board meeting held on 22 February 2024, endorsed to propose at the 2024 Annual General Meeting of Shareholders to consider approval to allocate profit and payment of dividend in cash, from operation result from 1 January 2023 to 31 December 2023 at THB 0.50 per share, the profit is non-BOI. The dividend will be paid on 23 April 2024. However, the right to receive dividend from the company is still uncertain depending on approval by the 2024 Annual General Meeting of Shareholders. Record date is 7 March 2024. Upcoming Dividend • Nov 17
Upcoming dividend of ฿0.50 per share at 6.5% yield Eligible shareholders must have bought the stock before 24 November 2023. Payment date: 12 December 2023. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 6.5%. Lower than top quartile of Thai dividend payers (6.8%). Higher than average of industry peers (3.6%). Annuncio • Nov 16
Bangkok Airways Public Company Limited Announces Cash Dividend, Payable on 12 December, 2023 Bangkok Airways Public Company Limited announced Cash dividend of THB 0.50 per share for Common shareholders. Record date for the right to receive dividends is 27 November, 2023. Ex-dividend date is 24 November, 2023. Payment date is 12 December, 2023. New Risk • Nov 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 21% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Price Target Changed • Nov 04
Price target increased by 7.4% to ฿19.44 Up from ฿18.10, the current price target is an average from 5 analysts. New target price is 32% above last closing price of ฿14.70. Stock is up 8.1% over the past year. The company is forecast to post earnings per share of ฿1.18 next year compared to a net loss per share of ฿1.01 last year. Major Estimate Revision • Oct 27
Consensus EPS estimates increase by 21%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from ฿19.9b to ฿19.7b. EPS estimate rose from ฿0.977 to ฿1.18. Net income forecast to grow 69% next year vs 35% growth forecast for Airlines industry in Thailand. Consensus price target of ฿19.14 unchanged from last update. Share price fell 4.4% to ฿13.00 over the past week. Buying Opportunity • Oct 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.4%. The fair value is estimated to be ฿18.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.6% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 24% in 2 years. Earnings is forecast to grow by 56% in the next 2 years. Annuncio • Sep 08
Bangkok Airways Public Company Limited Announces Resignation of Visanu Prasarttongosoth as Director Bangkok Airways Public Company Limited received the resignation letter from the position of director from Police General Visanu Prasarttongosoth, the resignation is effective from 7 September, 2023 onward. Price Target Changed • Sep 07
Price target increased by 7.9% to ฿18.10 Up from ฿16.78, the current price target is an average from 5 analysts. New target price is 7.7% above last closing price of ฿16.80. Stock is up 50% over the past year. The company is forecast to post earnings per share of ฿0.98 next year compared to a net loss per share of ฿1.01 last year. Major Estimate Revision • Aug 29
Consensus EPS estimates increase by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from ฿20.1b to ฿20.5b. EPS estimate increased from ฿0.765 to ฿0.943 per share. Net income forecast to grow 48% next year vs 29% growth forecast for Airlines industry in Thailand. Consensus price target up from ฿16.38 to ฿16.78. Share price rose 8.2% to ฿17.20 over the past week. Price Target Changed • Aug 15
Price target increased by 8.9% to ฿16.38 Up from ฿15.04, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ฿16.10. Stock is up 55% over the past year. The company is forecast to post earnings per share of ฿0.77 next year compared to a net loss per share of ฿1.01 last year. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: ฿0.32 (vs ฿0.40 loss in 2Q 2022) Second quarter 2023 results: EPS: ฿0.32 (up from ฿0.40 loss in 2Q 2022). Revenue: ฿4.65b (up 101% from 2Q 2022). Net income: ฿669.7m (up ฿1.52b from 2Q 2022). Profit margin: 14% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jan 28
Price target increased by 11% to ฿13.33 Up from ฿12.00, the current price target is an average from 4 analysts. New target price is 6.2% below last closing price of ฿14.20. Stock is up 54% over the past year. The company is forecast to post a net loss per share of ฿0.99 next year compared to a net loss per share of ฿4.15 last year. Reported Earnings • Nov 18
Third quarter 2022 earnings released: ฿0.19 loss per share (vs ฿3.39 loss in 3Q 2021) Third quarter 2022 results: ฿0.19 loss per share (improved from ฿3.39 loss in 3Q 2021). Revenue: ฿3.94b (up ฿3.36b from 3Q 2021). Net loss: ฿392.9m (loss narrowed 94% from 3Q 2021). Revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 5 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Director Somboon Kitiyansub was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Major Estimate Revision • Aug 17
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 losses of -฿1.33 per share expected, vs -฿1.00 per share profit forecast previously. Revenue forecast reaffirmed at ฿9.49b. Airlines industry in Thailand expected to see average net income decline 7.6% next year. Consensus price target broadly unchanged at ฿12.05. Share price was steady at ฿10.40 over the past week. Reported Earnings • Aug 14
Second quarter 2022 earnings released: ฿0.40 loss per share (vs ฿0.33 loss in 2Q 2021) Second quarter 2022 results: ฿0.40 loss per share (down from ฿0.33 loss in 2Q 2021). Revenue: ฿2.52b (up 268% from 2Q 2021). Net loss: ฿847.5m (loss widened 24% from 2Q 2021). Over the next year, revenue is forecast to grow 176%, compared to a 53% growth forecast for the industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Reported Earnings • May 15
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: ฿0.49 loss per share (down from ฿0.36 loss in 1Q 2021). Revenue: ฿1.66b (up 50% from 1Q 2021). Net loss: ฿1.02b (loss widened 37% from 1Q 2021). Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the next year, revenue is forecast to grow 190%, compared to a 50% growth forecast for the industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Price Target Changed • Apr 27
Price target increased to ฿11.54 Up from ฿10.60, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ฿11.50. Stock is up 53% over the past year. The company is forecast to post a net loss per share of ฿0.42 next year compared to a net loss per share of ฿4.15 last year. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 5 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Director Somboon Kitiyansub was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Major Estimate Revision • Apr 13
Consensus estimates of losses per share improve by 19% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from ฿9.07b to ฿9.81b. EPS estimate increased from -฿0.51 per share to -฿0.42 per share. Airlines industry in Thailand expected to see average net income growth of 43% next year. Consensus price target of ฿11.54 unchanged from last update. Share price rose 8.8% to ฿11.10 over the past week. Price Target Changed • Mar 31
Price target increased to ฿11.54 Up from ฿10.66, the current price target is an average from 5 analysts. New target price is 13% above last closing price of ฿10.20. Stock is up 21% over the past year. The company is forecast to post a net loss per share of ฿0.52 next year compared to a net loss per share of ฿4.15 last year. Major Estimate Revision • Mar 03
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from ฿14.8b to ฿10.4b. EPS estimate unchanged from -฿0.62 per share at last update. Airlines industry in Thailand expected to see average net income growth of 66% next year. Consensus price target of ฿10.38 unchanged from last update. Share price was steady at ฿9.65 over the past week. Reported Earnings • Feb 27
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: ฿4.15 loss per share (down from ฿2.57 loss in FY 2020). Revenue: ฿5.67b (down 47% from FY 2020). Net loss: ฿8.55b (loss widened 62% from FY 2020). Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 46%. Over the next year, revenue is forecast to grow 161%, compared to a 52% growth forecast for the airlines industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 15
Third quarter 2021 earnings released: ฿3.39 loss per share (vs ฿0.76 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: ฿672.3m (down 25% from 3Q 2020). Net loss: ฿6.98b (loss widened 345% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. Board Change • Oct 12
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Somboon Kitiyansub was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Jun 05
Price target increased to ฿7.17 Up from ฿5.85, the current price target is provided by 1 analyst. New target price is 5.1% below last closing price of ฿7.55. Stock is up 9.4% over the past year. Reported Earnings • May 17
First quarter 2021 earnings released: ฿0.36 loss per share (vs ฿0.16 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: ฿1.36b (down 78% from 1Q 2020). Net loss: ฿745.6m (loss widened 120% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Price Target Changed • Mar 19
Price target decreased to ฿5.85 Down from ฿7.92, the current price target is an average from 2 analysts. New target price is 31% below last closing price of ฿8.50. Stock is up 106% over the past year. Reported Earnings • Mar 03
Full year 2020 earnings released: ฿2.57 loss per share (vs ฿0.17 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: ฿9.99b (down 61% from FY 2019). Net loss: ฿5.28b (down ฿5.63b from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 25
New 90-day high: ฿7.65 The company is up 29% from its price of ฿5.95 on 27 November 2020. The Thai market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Airlines industry, which is up 8.0% over the same period. Price Target Changed • Feb 03
Price target raised to ฿7.92 Up from ฿7.39, the current price target is an average from 2 analysts. The new target price is 20% above the current share price of ฿6.60. As of last close, the stock is up 10.0% over the past year. Is New 90 Day High Low • Dec 09
New 90-day high: ฿6.70 The company is up 26% from its price of ฿5.30 on 10 September 2020. The Thai market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Airlines industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Nov 20
New 90-day high: ฿5.80 The company is up 7.0% from its price of ฿5.40 on 21 August 2020. The Thai market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Airlines industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Reported Earnings • Nov 16
Third quarter 2020 earnings released: ฿0.76 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: ฿900.0m (down 86% from 3Q 2019). Net loss: ฿1.57b (down ฿1.63b from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 109% per year but the company’s share price has only fallen by 33% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 30
New 90-day low: ฿4.98 The company is down 13% from its price of ฿5.70 on 31 July 2020. The Thai market is down 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Airlines industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Oct 14
New 90-day low: ฿5.25 The company is down 15% from its price of ฿6.20 on 16 July 2020. The Thai market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Airlines industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. 
