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Airports of Thailand Public Company (TATD) Fair Value & Analysis

Industrials · SG · Market cap 35.7B SGD

AO Airports of Thailand Public Company TATD · SG
Price2.50 SGD
Fair Value1.26 SGD
Upside-49.6%
Quality70/100
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Evidence: Medium Range 0.7300 SGD – 1.64 SGD

Fair value as of: Jul 4, 2026

From 24 valuation models · updated today

Share price +13.6% over the past month.

Price vs Fair Value (12 months)

2.50 SGD 1.25 SGD Fair Value 1.26 SGD Jul 2025 Jul 2026

12‑month range 1.25 SGD – 2.50 SGD · fair‑value band 0.7300 SGD – 1.64 SGD · the 2.50 SGD price screens above the 1.26 SGD fair value. As of Jul 4, 2026.

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Analysis

Airports of Thailand Public Company (TATD) currently trades at 2.50 SGD, while our model-based Fair Value estimate is 1.26 SGD — implying the stock looks roughly 49.6% overvalued today. We read business quality at 70/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: medium).

Over the trailing twelve months, Airports of Thailand Public Company generated revenue of 66.4B SGD at a net margin of 27.3%. Revenue grew 3.0% year over year. It earns a return on equity of 14.4%. Net debt stands at 2.1B SGD. Fundamentals as of Jul 4, 2026

Key figures & financial health

Revenue (TTM) 66.4B SGD
Revenue growth (YoY) +3.0%
Net margin 27.3%
Return on equity 14.4%
Free cash flow 19.8B SGD FY2025
P/E ratio 50.0
More key figures
Operating margin 41.2%
EPS (TTM) 0.0500 SGD
EPS growth (YoY) +13.1%
Net debt 2.1B SGD FY2022

Figures from reported company fundamentals (EODHD) · as of Jul 4, 2026. TTM = trailing twelve months.

About the company

Airports of Thailand Public Company Limited, together with its subsidiaries, engages in the airport business in Thailand. The company engages in airport management, hotel business, ground service business, security business, and management of perishable goods projects. It operates six international airports, including Suvarnabhumi Airport, Don Mueang International Airport, Chiang Mai International Airport, Hat Yai International Airport, Phuket International Airport and Mae Fah Luang - Chiang Rai International Airport. The company is involved in the hotel and restaurant business; and operation and management of the project on perishable goods at Suvarnabhumi Airport. In addition, it offers ground equipment, security services, and manages projects, as well as ground, warehouse, and cleaning services. Airports of Thailand Public Company Limited was founded in 1979 and is headquartered in Bangkok, Thailand.

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

Airports of Thailand Public Company reported revenue of 66.7B SGD in FY2025 versus 16.6B SGD in FY2022, a compound +59.1%/yr. Reported net income was 18.1B SGD in FY2025.

Revenue +59.1%/yr
FY22 16.6B SGD
FY23 48.1B SGD
FY24 67.1B SGD
FY25 66.7B SGD
Net income
FY22 −11.1B SGD
FY23 8.8B SGD
FY24 19.2B SGD
FY25 18.1B SGD

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Similar stocks

6 more Airports & Air Services stocks, each showing price versus our Fair Value estimate (as of Jul 4, 2026).

Stock Price Fair Value vs Fair Value
Aena S.M.E., S.A ANNSF $30.79 $30.26 -2%
Grupo Aeroportuario del Pacífico, S.A. GAPB 395.16 MXN 430.17 MXN +9%
Aeroports de Paris SA ADP €102.70 €53.85 -48%
Joby Aviation, Inc JOBY $8.86 $0.2800 -97%
Flughafen Zürich AG UZAPF $315.31 $149.25 -53%
Grupo Aeroportuario del Sureste, S. A. B. de C. V., ASRMF $30.55 $45.98 +51%

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Frequently asked questions

Is Airports of Thailand Public Company (TATD) undervalued?
As of Jul 4, 2026, our model estimates a fair value of 1.26 SGD versus a price of 2.50 SGD — about −50% (overvalued). Model-based estimate, not financial advice.
What is the fair value of TATD?
Our model-based fair value for Airports of Thailand Public Company is 1.26 SGD (as of Jul 4, 2026), built from audited fundamentals. The current price is 2.50 SGD.
What is the quality score of TATD?
Airports of Thailand Public Company has a Quality Score of 70/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Airports of Thailand Public Company (TATD)?
Airports of Thailand Public Company reported trailing-twelve-month revenue of about 66.4B SGD (latest available figure, as of Jul 4, 2026).
What is the net profit margin of TATD?
The net profit margin of Airports of Thailand Public Company is about 27.3%, meaning it keeps roughly 27.3% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.