Airports of Thailand Public Company Limited (AOT.BK) stock analysis

In our weekly check, Airports of Thailand Public Company Limited is graded A (A to F). Of 24 checks on debt, profit, cash flow and trend: 21 pass, warnings: 1, red flags: 2.

About Airports of Thailand Public Company Limited

Airports of Thailand Public Company Limited is an Industrials company (Airlines, Airports & Air Services), listed on SET as AOT.BK.

What our checks show for AOT.BK

Red flags

• The stock has fallen as much as 80% from a peak. Would you have held through that?
• Recovering from its deepest fall took about 3.3 years.

Warning signs

• The price is 45.6 times earnings (P/E): the market already pays for a lot of future growth.

Strengths

• Net debt is only 0.6x a year of EBITDA: the balance sheet has room.
• Operating profit covers interest 25.2 times over.
• The net margin rose by 259 points over 5 years, to 28.3%.
• The gross margin is 54.3% and has risen by 114 points: pricing power is holding.
• Operating cash flow is 1.43x net profit: the profit arrives as real cash.
• Analysts expect earnings per share to grow about 27.2% a year over the next years.

Next earnings report: 2026-11-23

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Questions

What grade does Airports of Thailand Public Company Limited (AOT.BK) have?

In our weekly check, Airports of Thailand Public Company Limited is graded A (A to F). Of 24 checks on debt, profit, cash flow and trend: 21 pass, warnings: 1, red flags: 2. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of AOT.BK stock?

This week's biggest flags for Airports of Thailand Public Company Limited: Deep past fall, Slow recovery after falls, High P/E. In total 3 of 24 checks show a warning or a red flag.

What does Airports of Thailand Public Company Limited do?

Airports of Thailand Public Company Limited is an Industrials company (Airlines, Airports & Air Services), listed on SET as AOT.BK.

When does Airports of Thailand Public Company Limited report earnings next?

The next earnings report is expected on 2026-11-23. We re-run the checks every week, so the grade can change after it.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-31

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