Bangkok Aviation Fuel Services Public Company vs Aena: Fair Value & Quality
Both stocks run through our valuation models. Here is how Bangkok Aviation Fuel Services Public Company (BAFS) and Aena (AENA) compare, as of Aug 11, 2026.
As of Aug 11, 2026, Fair Value Calculator sees Aena as the more attractively valued of the two: Bangkok Aviation Fuel Services Public Company trades at THB 11.20 versus a fair value of THB 6.98 (-38%), while Aena trades at €26.70 versus €28.41 (+6%).
Bangkok Aviation Fuel Services Public Company
BAFS.BK · THB · Industrials
-38%
upside to fair value
overvalued
PriceTHB 11.20
Fair ValueTHB 6.98
Quality46/100
Aena
AENA.MC · EUR · Industrials
+6%
upside to fair value
fairly valued
Price€26.70
Fair Value€28.41
Quality69/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Bangkok Aviation Fuel Services Public CompanyAena
Valuation
38.5×P/E (TTM)18.2×
1.79×P/S (TTM)7.04×
1.53×P/B4.94×
9.6×EV/EBITDA13.1×
2.57×PEG3.02×
3.2%Dividend yield4.2%
THB 0.33Dividend per share€1.09
Profitability
6%Net margin34%
32%Operating margin31%
3%Return on equity24%
2%Return on assets10%
Growth
0%Revenue growth (YoY)12%
18.2%Avg. growth/yr (3Y)14.4%
14.9%Avg. growth/yr (5Y)23.5%
Balance & size
2.25×Debt / equity0.53×
$200MMarket cap$45B
expensiveGrowth qualityhealthy
Aena leads: 6 to 8 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
Bangkok Aviation Fuel Services Public Companyof which business quality 42 · market factors 84Aenaof which business quality 68 · market factors 63
ProfitabilityMargins and returns on capital today
20
63
Quality GrowthAre margins and returns improving?
41
50
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
67
56
Low VolatilityCalm price path (market factor)
81
81
MomentumPrice trend over the last 3–12 months (market factor)
82
51
52W MomentumDistance to the 52-week high (market factor)
90
64
Net IssuanceBuybacks instead of dilution
82
82
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Bangkok Aviation Fuel Services Public Company
DCF ModelsTHB 10.55
Earnings-BasedTHB 1.87
Dividend DiscountTHB 6.52
MultiplesTHB 6.14
Asset-BasedTHB 4.56
Economic ProfitTHB 5.26
Growth EarningsTHB 6.00
13 of 15 models see the stock below the current price.
Aena
DCF Models€28.85
Earnings-Based€14.12
Dividend Discount€17.57
Multiples€27.07
Asset-Based€4.11
Growth DCF€19.22
Economic Profit€14.75
Growth Earnings€24.15
15 of 26 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Bangkok Aviation Fuel Services Public Company
Bear THB 4.20Fair Value THB 6.98Bull THB 7.06
THB 11.20 = current price (white tick)
Aena
Bear €17.20Fair Value €28.41Bull €36.38
€26.70 = current price (white tick)
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
Bangkok Aviation Fuel Services Public Company · Industrials
Quality score46 · below median
Fair value upside-38% · below median
Aena · Industrials
Quality score69 · Top 25%
Fair value upside+6% · above median
Bottom line
As of Aug 11, 2026, Fair Value Calculator sees Aena as the more attractively valued of the two: Bangkok Aviation Fuel Services Public Company trades at THB 11.20 versus a fair value of THB 6.98 (-38%), while Aena trades at €26.70 versus €28.41 (+6%).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
