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AOT

Airports of Thailand SET:AOT Stock Report

Last Price

฿70.50

Market Cap

฿1.0t

7D

1.1%

1Y

13.3%

Updated

03 Jul, 2022

Data

Company Financials +
AOT fundamental analysis
Snowflake Score
Valuation0/6
Future Growth5/6
Past Performance0/6
Financial Health3/6
Dividends0/6

AOT Stock Overview

Airports of Thailand Public Company Limited, together with its subsidiaries, engages in developing, managing, and operating international airports in Thailand.

Rewards

Earnings are forecast to grow 71.64% per year

Risk Analysis

No risks detected for AOT from our risk checks.

Airports of Thailand Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Airports of Thailand
Historical stock prices
Current Share Price฿70.50
52 Week High฿72.00
52 Week Low฿55.50
Beta0.79
1 Month Change1.81%
3 Month Change5.22%
1 Year Change13.25%
3 Year Change-5.69%
5 Year Change45.36%
Change since IPO1,368.75%

Recent News & Updates

Shareholder Returns

AOTTH InfrastructureTH Market
7D1.1%1.0%0.2%
1Y13.3%11.7%1.0%

Return vs Industry: AOT exceeded the TH Infrastructure industry which returned 11.7% over the past year.

Return vs Market: AOT exceeded the TH Market which returned 1% over the past year.

Price Volatility

Is AOT's price volatile compared to industry and market?
AOT volatility
AOT Average Weekly Movement2.0%
Infrastructure Industry Average Movement3.8%
Market Average Movement5.1%
10% most volatile stocks in TH Market10.7%
10% least volatile stocks in TH Market2.6%

Stable Share Price: AOT is less volatile than 75% of TH stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: AOT's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1903n/aNitinai Sirismatthakarnhttps://www.airportthai.co.th

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 Aviation Services, Security Business, and Project on Perishable Goods Business segments. It operates 6 international airports, including Suvarnabhumi, Don Mueang, Chiang Mai, Hat Yai, Phuket, and Mae Fah Luang Chiang Rai airports.

Airports of Thailand Fundamentals Summary

How do Airports of Thailand's earnings and revenue compare to its market cap?
AOT fundamental statistics
Market Cap฿1.01t
Earnings (TTM)-฿16.78b
Revenue (TTM)฿8.76b

115.0x

P/S Ratio

-60.0x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
AOT income statement (TTM)
Revenue฿8.76b
Cost of Revenue฿11.86b
Gross Profit-฿3.10b
Other Expenses฿13.68b
Earnings-฿16.78b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-1.17
Gross Margin-35.39%
Net Profit Margin-191.64%
Debt/Equity Ratio6.2%

How did AOT perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is AOT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AOT?

Other financial metrics that can be useful for relative valuation.

AOT key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue121.3x
Enterprise Value/EBITDA-79.9x
PEG Ration/a

Price to Book Ratio vs Peers

How does AOT's PB Ratio compare to its peers?

AOT PB Ratio vs Peers
The above table shows the PB ratio for AOT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPBEstimated GrowthMarket Cap
Peer Average3.6x
BAFS Bangkok Aviation Fuel Services
3.9x97.9%฿18.5b
BEM Bangkok Expressway and Metro
3.5x33.7%฿134.5b
600009 Shanghai International Airport
3.9x77.2%CN¥104.3b
AENA Aena S.M.E
3x32.4%€18.6b
AOT Airports of Thailand
9.6x71.6%฿1.0t

Price-To-Book vs Peers: AOT is expensive based on its Price-To-Book Ratio (9.6x) compared to the peer average (3.6x).


Price to Earnings Ratio vs Industry

How does AOT's PE Ratio compare vs other companies in the Asian Infrastructure Industry?

Price-To-Book vs Industry: AOT is expensive based on its Price-To-Book Ratio (9.6x) compared to the TH Infrastructure industry average (1.6x)


Price to Book Ratio vs Fair Ratio

What is AOT's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AOT PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio9.6x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate AOT's Price-To-Book Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of AOT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AOT (THB70.5) is trading above our estimate of fair value (THB21.63)

Significantly Below Fair Value: AOT is trading above our estimate of fair value.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate AOT's PEG Ratio to determine if it is good value.


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Future Growth

How is Airports of Thailand forecast to perform in the next 1 to 3 years based on estimates from 19 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


71.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AOT is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2%).

Earnings vs Market: AOT is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: AOT is expected to become profitable in the next 3 years.

Revenue vs Market: AOT's revenue (47.8% per year) is forecast to grow faster than the TH market (10.3% per year).

High Growth Revenue: AOT's revenue (47.8% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AOT's Return on Equity is forecast to be low in 3 years time (16.6%).


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Past Performance

How has Airports of Thailand performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-47.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: AOT is currently unprofitable.

Growing Profit Margin: AOT is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: AOT is unprofitable, and losses have increased over the past 5 years at a rate of 47.3% per year.

Accelerating Growth: Unable to compare AOT's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: AOT is unprofitable, making it difficult to compare its past year earnings growth to the Infrastructure industry (-41.6%).


Return on Equity

High ROE: AOT has a negative Return on Equity (-15.79%), as it is currently unprofitable.


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Financial Health

How is Airports of Thailand's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: AOT's short term assets (THB11.3B) exceed its short term liabilities (THB10.0B).

Long Term Liabilities: AOT's short term assets (THB11.3B) do not cover its long term liabilities (THB66.6B).


Debt to Equity History and Analysis

Debt Level: AOT has more cash than its total debt.

Reducing Debt: AOT's debt to equity ratio has reduced from 22.7% to 6.2% over the past 5 years.

Debt Coverage: AOT's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if AOT's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

What is Airports of Thailand current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


0.75%

Forecast Dividend Yield

Dividend Yield vs Market

Notable Dividend: Unable to evaluate AOT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate AOT's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if AOT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if AOT's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: AOT is not paying a notable dividend for the TH market.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as AOT has not reported any payouts.


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Management

How experienced are the management team and are they aligned to shareholders interests?

4.3yrs

Average management tenure


CEO

Nitinai Sirismatthakarn (51 yo)

7.25yrs

Tenure

฿1,151,250

Compensation

Mr. Nitinai Sirismatthakarn has been the President of Airports of Thailand Public Company Limited since April 20, 2015 and serves as its Secretary of the Board of Directors since 2016. Mr. Sirismatthakarn...


Leadership Team

Experienced Management: AOT's management team is considered experienced (4.3 years average tenure).


Board Members

Experienced Board: AOT's board of directors are considered experienced (3.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Airports of Thailand Public Company Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Airports of Thailand Public Company Limited
  • Ticker: AOT
  • Exchange: SET
  • Founded: 1903
  • Industry: Airport Services
  • Sector: Transportation
  • Implied Market Cap: ฿1.007t
  • Shares outstanding: 14.29b
  • Website: https://www.airportthai.co.th

Number of Employees


Location

  • Airports of Thailand Public Company Limited
  • No. 333, Cherdwutagard Road
  • Srikan
  • Bangkok
  • 10210
  • Thailand

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/03 00:00
End of Day Share Price2022/07/01 00:00
Earnings2022/03/31
Annual Earnings2021/09/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.