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Bangkok Airways Public Company Limited

Bangkok Airways Public Company Limited

BA-R.BK
Bangkok Airways Public Company LimitedTH flagStock Exchange of Thailand
18.70
THB
-0.20
- -
38.58BMarket Cap
Bangkok Airways Public Company Limited
BA-R.BK
(Stock Exchange of Thailand)

Recent

price

18.70

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
8.92
11.19
12.58
12.57
11.01
11.76
11.87
12.01
11.63
3.72
1.32
5.39
9.37
11.43
11.49
11.45
Revenue per Share
0.18
1.12
0.59
0.21
0.86
0.84
0.38
0.12
0.17
-2.56
-4.15
-1.01
1.48
1.8
1.69
1.9
Basic EPS, GAAP
1.11
1.64
0.79
-0.64
1.3
0.74
-0.3
-0.27
-0.45
-2.39
-1.09
0.64
2.39
2.54
2.3
2.34
Free Cash Flow per Basic Share
0.57
0.41
1.53
- -
0.45
0.7
0.5
0.3
0.08
0.1
- -
- -
0.5
1.1
1.2
1.2
Dividend per Share
-1.57
-0.86
-1.63
1.02
1.15
1.22
1.11
0.74
0.82
-1.94
-6.07
-6.72
1.55
2.18
2.46
3.47
Book Value per Share
2.04
4.4
4.06
14.71
14.45
14.9
13.2
14.41
14.26
9.28
6.2
7.85
7.95
7.47
6.29
7.24
Tangible Book Value per Share
1,580
1,580
1,580
1,673
2,100
2,100
2,100
2,095
2,061
2,060
2,060
2,098
2,100
2,100
2,097
2,091
Basic Weighted Avg Shares
14,099
17,672
19,876
21,033
23,113
24,692
24,932
25,156
23,962
7,666
2,717
11,305
19,681
23,996
24,101
23,945
Sales/Revenue/Turnover
15.11
14.82
11.26
5.68
10.13
12.35
0.17
1.38
-4.13
-47.34
-123.65
-12.44
12.17
20.52
20.83
21.98
Operating Margin (%)
624
593
573
645
834
1,068
1,267
1,380
1,422
2,843
2,342
2,431
1,775
1,536
1,580
1,600
Depreciation Expense
282
1,771
932
351
1,797
1,768
788
249
351
-5,283
-8,550
-2,110
3,110
3,788
3,549
3,965
Net Income, GAAP
50.63
20.01
12.38
0.14
11.91
33.83
35.8
26.09
50.49
- -
- -
- -
- -
15.91
17.56
17.17
Effective Tax Rate (%)
2
10.02
4.69
1.67
7.77
7.16
3.16
0.99
1.46
-68.92
-314.69
-18.67
15.8
15.78
14.73
16.56
Profit Margin (%)
-2,394
347
-1,880
9,827
9,321
6,865
6,065
3,090
3,333
-7,421
-20,698
-8,618
5,107
4,280
43
1,522
Working Capital
15,391
14,167
12,770
12,299
13,858
15,060
16,016
16,834
16,568
15,029
6,669
21,604
25,293
23,851
21,163
20,852
LT Debt
3,989
7,720
7,192
25,432
31,096
31,989
28,386
30,778
30,004
19,606
13,162
16,764
16,908
15,856
13,273
15,208
Total Equity
- -
9.09
8.4
3.92
4.9
4.35
0.06
0.54
-1.01
- -
- -
- -
- -
9.2
9.97
10.39
Return on Invested Capital (%)
- -
20.52
17.08
14.11
19.65
16.31
10.28
8.48
5.82
- -
- -
- -
- -
16.48
15.57
16.24
Return on Capital (%)
- -
- -
- -
- -
87.16
71.24
32.21
12.8
21.59
- -
- -
- -
- -
96.71
72.82
58.69
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
3,138
4,453
4,516
LT Borrowings
6,573
5,964
5,354
LT Finance Leases
15,367
15,199
15,498
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,100
2,074
2,074
Market Capitalization
27,720
31,080
28,234

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
11,142
12,224
13,705
Cash, Cash Equivalents & STI
9,165
10,028
11,144
Accounts Receivable, Net
1,143
1,422
1,411
Inventories
493
517
511
Total Current Liabilities
10,387
12,181
12,182
Payables & Accruals
1,829
2,613
2,261
ST Debt
3,138
4,453
4,516
Deferred Revenue
2,758
3,259
2,782

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-6.43%
-5.43%
-16.29%
Free Cash Flow
35.89%
10.89%
-9.45%
Net Income, GAAP
-193.59%
-49.08%
-6.3%
Sales/Revenue/Turnover
28.39%
69.6%
0.44%
Total Cash Common Dividend
1,346,843.68%
2,693,700.04%
9.08%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
7,241
5,172
5,936
5,646
23,996
2025
7,419
5,127
5,871
5,684
24,101
2026
7,264
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.89
0.34
0.32
- -
1.8
2025
0.8
0.19
0.5
- -
1.69
2026
1.01
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.5
0.6
- -
1.1
2025
- -
0.7
0.5
- -
1.2
2026
- -
- -
- -
- -
- -
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Business
Bangkok Airways Public Company Limited (BA-R.BK) operates as a Thailand-based regional airline providing scheduled passenger and cargo air transportation services; airport management and operations; ground handling; in-flight catering; and aviation support services including training and cargo terminal operations, primarily through its subsidiaries such as Bangkok Air Catering Co., Ltd., Worldwide Flight Services Bangkok Air Ground Handling Co., Ltd., and Bangkok Air Aviation Training Center Co., Ltd. The company serves domestic routes across Thailand and international destinations in Southeast Asia, South Asia, and select locations in the Middle East, with key hubs at Bangkok Suvarnabhumi International Airport and Koh Samui Airport; it owns and operates three private airports at Samui (since 1989), Sukhothai (since 1996), and Trat (since 2003). Founded in 1968 by Mr. Prasert Prasarttong-Osoth and headquartered at 99 Mu 14, Vibhavadirangsit Road, Chom Phon, Chatuchak, Bangkok, Thailand, the carrier maintains a fleet targeting 25 aircraft in 2025 and integrates its core businesses to deliver premium boutique services to leisure and business travelers. Recent developments include a purchase agreement signed in August 2025 with ATR for 10-12 new ATR 72-600 aircraft to replace and expand its turboprop fleet, with deliveries starting in 4Q2026; expansion of codeshare partnerships to 30 partners and over 70 interline agreements, including an enhanced deal with Etihad Airways for northern winter 2025/26 routes to Koh Samui and additional Thailand services; an MOU with Thai Airways to develop an aircraft maintenance center at U-Tapao Airport in the Eastern Economic Corridor; and planned renovations at Samui Airport's passenger terminal starting Q4 2025 alongside Trat Airport runway expansion for jet aircraft.