Airports of Thailand Public Company Limited (AIPUY)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Airports of Thailand Public Company Limited (AIPUY) trades at $18.90 with AI Score 48/100 (Grade C). Airports of Thailand Public Company Limited manages and operates six international airports in Thailand. Market cap: $27.00B, Sector: Industrials.
Price live · AI analysis from May 31, 2026Analyst Coverage for AIPUY: AIPUY does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates AIPUY against Industrials peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
AIPUY: the 1 perspectives are evenly split.
How is this calculated? →Airports of Thailand Public Company Limited (AIPUY) Industrial Operations Profile
Airports of Thailand Public Company Limited (AOT) manages Thailand's primary international airports, providing essential infrastructure and services. With a diverse portfolio including hotel and ground aviation services, AOT benefits from Thailand's tourism sector, holding a key position in the country's air travel ecosystem and regional connectivity.
What Is the Investment Thesis for AIPUY?
Airports of Thailand Public Company Limited (AOT) presents a compelling investment case centered on its strategic position in Thailand's growing tourism sector. With a P/E ratio of 45.2 and a profit margin of 27.1%, AOT demonstrates solid profitability. The company's beta of 0.15 indicates lower volatility compared to the market, making it a relatively stable investment. Growth catalysts include the ongoing expansion of airport infrastructure and increasing passenger traffic. Key risks include potential economic downturns affecting tourism and regulatory changes impacting airport operations. AOT's dividend yield of 1.47% provides a modest income stream for investors.
Based on FMP financials and quantitative analysis
AIPUY Key Highlights
- Market Cap of $27.00B reflecting its significant presence in the Thai stock market.
- P/E ratio of 45.2 indicating the price investors are willing to pay for each dollar of earnings.
- Profit Margin of 27.1% showcasing efficient operations and profitability.
- Gross Margin of 54.4% demonstrating strong cost management and revenue generation.
- Dividend Yield of 1.47% providing a steady income stream for investors.
Who Are AIPUY's Competitors?
AIPUY is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| JOBY Joby Aviation, Inc. | $9.07 | +6.89% | $8.93B | 65 |
| GOL Gol Linhas Aéreas Inteligentes S.A. | $2.71 | +3.23% | $4.35B | 62 |
| JTTRY Japan Airport Terminal Co., Ltd. | $15.20 | +8.88% | $2.82B | 62 |
| CAAP Corporación América Airports S.A. | $25.74 | +2.02% | $4.20B | 59 |
| ALNPF ANA Holdings Inc. | $20.10 | +12.04% | $8.86B | 48 |
| AERO Grupo Aeroméxico | $17.26 | -1.32% | $2.52B | 48 |
| BABWF International Consolidated Airlines Group S.A. | $6.17 | +0.62% | $27.34B | 48 |
| NRSAF Norse Atlantic ASA | $0.55 | +0.15% | $90.60M | 48 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are AIPUY's Key Strengths?
- Strategic locations of its six international airports.
- Established brand reputation and operational expertise.
- Diversified revenue streams from airport management, hotel, and ground services.
- Strong relationships with airlines and tourism operators.
What Are AIPUY's Weaknesses?
- High dependence on tourism and economic conditions.
- Vulnerability to geopolitical events and security threats.
- Exposure to regulatory risks and environmental concerns.
- Potential for operational disruptions due to weather or unforeseen events.
What Could Drive AIPUY Stock Higher?
- Expansion of Suvarnabhumi Airport to increase passenger capacity.
- Implementation of new digital technologies to improve airport operations by Q4 2026.
- Government initiatives to promote tourism in Thailand.
- Potential new partnerships with international airlines by Q3 2026.
What Are the Key Risks for AIPUY?
- Rich valuation — a P/E of 45.2 runs well above the Industrials sector’s ~30x, leaving little room for a miss.
- Economic downturns affecting tourism and air travel demand.
- Geopolitical instability and security threats impacting airport operations.
- Regulatory changes and environmental regulations increasing compliance costs.
- Competition from other airports and transportation modes.
- Fluctuations in currency exchange rates affecting revenue and profitability.
What Are the Growth Opportunities for AIPUY?
- Expansion of Airport Capacity: With increasing passenger traffic, AOT has the opportunity to expand the capacity of its existing airports, particularly Suvarnabhumi and Don Mueang. This involves constructing new terminals, runways, and parking facilities to accommodate more flights and passengers. The expansion projects are expected to drive revenue growth and improve operational efficiency. The timeline for these projects extends through 2030, aligning with Thailand's long-term tourism growth strategy. The market size for airport infrastructure development in Thailand is estimated to reach $5 billion by 2028.
- Development of Airport Cities: AOT can develop airport cities around its major airports, creating commercial and entertainment hubs that attract travelers and local residents. These airport cities can include hotels, shopping malls, restaurants, and convention centers, generating additional revenue streams for AOT. The development of airport cities aligns with the trend of creating integrated transportation and commercial centers. The market size for airport city development in Thailand is projected to reach $3 billion by 2027.
- Enhancement of Ground Aviation Services: AOT can enhance its ground aviation services, including aircraft maintenance, cargo handling, and passenger services. This involves investing in advanced equipment and technologies to improve service quality and efficiency. The enhancement of ground aviation services can attract more airlines and generate higher revenue for AOT. The market size for ground aviation services in Thailand is estimated to reach $2 billion by 2026.
- Digital Transformation: AOT can leverage digital technologies to improve its operations and customer experience. This includes implementing digital platforms for passenger check-in, baggage handling, and security screening. Digital transformation can enhance operational efficiency, reduce costs, and improve customer satisfaction. The market size for digital transformation in the aviation industry is projected to reach $10 billion globally by 2028.
- Strategic Partnerships: AOT can form strategic partnerships with airlines, hotel chains, and tourism operators to expand its market reach and service offerings. These partnerships can involve joint marketing campaigns, cross-promotional activities, and co-development of new products and services. Strategic partnerships can enhance AOT's competitive advantage and drive revenue growth. The market size for strategic partnerships in the aviation industry is estimated to reach $5 billion globally by 2027.
What Opportunities Does AIPUY Have?
- Expansion of airport capacity to accommodate increasing passenger traffic.
- Development of airport cities and commercial hubs.
- Enhancement of ground aviation services and cargo handling capabilities.
- Leveraging digital technologies to improve operational efficiency and customer experience.
What Threats Does AIPUY Face?
- Economic downturns and declines in tourism.
- Increased competition from other airports and transportation modes.
- Geopolitical instability and security threats.
- Regulatory changes and environmental regulations.
What Are AIPUY's Competitive Advantages?
- Strategic Locations: Operates six major international airports in Thailand, strategically located to serve key tourist destinations and economic hubs.
- High Barriers to Entry: Airport infrastructure requires significant capital investment and regulatory approvals, creating high barriers to entry for new competitors.
- Established Brand Reputation: AOT has a well-established brand reputation as a reliable and efficient airport operator in Thailand.
- Economies of Scale: Benefits from economies of scale due to its large-scale operations and high passenger volumes.
What Does AIPUY Do?
Airports of Thailand Public Company Limited (AOT), established in 1903 and headquartered in Bangkok, plays a pivotal role in managing and operating Thailand's international airports. The company oversees six major airports: Suvarnabhumi, Don Mueang, Chiang Mai, Hat Yai, Phuket, and Mae Fah Luang Chiang Rai. These airports are critical infrastructure hubs, facilitating both domestic and international travel, and supporting Thailand's tourism industry. AOT's operations are segmented into Airport Management Business, Hotel Business, Ground Aviation Services, Security Business, and Project on Perishable Goods Business. Beyond core airport operations, AOT engages in hotel and restaurant services, ground equipment rental, and security services, diversifying its revenue streams and enhancing its service offerings. The company's evolution reflects Thailand's growing prominence as a global travel destination, with AOT adapting to increasing passenger traffic and evolving industry standards. AOT's strategic location and comprehensive service portfolio position it as a key player in Southeast Asia's aviation landscape.
What Products and Services Does AIPUY Offer?
- Manages and operates six international airports in Thailand.
- Provides airport management services, including air traffic control and ground handling.
- Offers hotel and restaurant services within airport premises.
- Provides ground aviation services, such as aircraft maintenance and cargo handling.
- Offers security services to ensure passenger and airport safety.
- Engages in projects related to perishable goods handling and logistics.
How Does AIPUY Make Money?
- Generates revenue from airport landing fees and passenger service charges.
- Earns income from hotel and restaurant operations within airports.
- Receives revenue from ground aviation services provided to airlines.
- Collects fees for security services and perishable goods handling.
- Derives income from retail and advertising concessions within airport terminals.
What Industry Does AIPUY Operate In?
Airports of Thailand Public Company Limited operates within the Airlines, Airports & Air Services industry, which is closely tied to global tourism and economic conditions. The industry is characterized by high capital expenditure, regulatory oversight, and sensitivity to geopolitical events. AOT benefits from Thailand's robust tourism sector, which contributes significantly to the country's GDP. The competitive landscape includes other airport operators and aviation service providers, both domestically and internationally. Market trends include increasing passenger traffic, demand for airport infrastructure development, and adoption of advanced technologies to enhance operational efficiency and customer experience.
Who Are AIPUY's Key Customers?
- Airlines operating domestic and international flights.
- Passengers traveling through its six international airports.
- Retail and food & beverage concessionaires operating within the airports.
- Cargo and logistics companies utilizing airport facilities.
Company Profile
Airports of Thailand Public Company Limited operates in the Airlines, Airports & Air Services industry within the Industrials sector. It is headquartered in Bangkok, TH. The company is led by CEO Paweena Jariyathitipong. AIPUY has traded publicly since 2012.
ROE 14%Key Financial Metrics
Return on equity for Airports of Thailand Public Company Limited stands at 13.8%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 9.0%, showing how much profit it generates from its asset base. AIPUY trades at a trailing price-to-earnings ratio of 45.19, above the Industrials sector average of ~30x. Its free cash flow yield is 3.2%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.60 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 2.2%, the inverse of the P/E and a quick read on earnings relative to price.
AIPUY Valuation & Market Position
With a $27.00B market cap, Airports of Thailand Public Company Limited sits in the large-cap segment of the market. Relative to its peer group, AIPUY's quantitative score of 48/100 is below the peer average of 59/100.
Quarterly Financial Performance: Airports of Thailand Public Company Limited
Revenue for Airports of Thailand Public Company Limited came in at $19.07B during Q1 2026, a 13.1% improvement versus the preceding quarter. The company recorded net income of $5.91B, with diluted EPS of $4.00. Revenue has increased across the last three reported quarters, suggesting sustained momentum for this large-cap Industrials company. Across the four most recent quarters, AIPUY averaged $3.17 in diluted EPS.
F-Score 7/9Financial Health
Airports of Thailand Public Company Limited's Piotroski F-Score is 7/9, a 9-point checklist of profitability, leverage and efficiency — signaling solid underlying fundamentals. Its Altman Z-Score of 9.01 places it in the safe zone, indicating low near-term bankruptcy risk.
FY2026 estForward Outlook
Wall Street analysts project Airports of Thailand Public Company Limited revenue of about $69.27B for fiscal 2026, with EPS near $0.00. The estimate reflects 20 contributing analysts.
AIPUY Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence in AIPUY's future, indicating that executives believe the stock is undervalued.
- Community sentiment has shifted positively, with discussions highlighting AIPUY's innovative technology and potential market impact.
- Analysts have noted a growing interest in AIPUY's sector, which could lead to increased demand for its products and services.
- Recent partnerships have been announced that may enhance AIPUY's market position and broaden its customer base.
Bear Case
- There are concerns about AIPUY's ability to scale operations effectively, as highlighted in recent community discussions.
- Negative sentiment has emerged regarding competition, with some traders believing rivals are outpacing AIPUY in innovation.
- Recent regulatory challenges in the industry could pose risks to AIPUY's growth trajectory and operational stability.
- Some analysts have raised questions about the sustainability of AIPUY's current business model amid changing market dynamics.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · January 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $19.07B | $5.91B | $4.00 |
| Q4 2025 | $16.85B | $4.65B | $3.30 |
| Q3 2025 | $15.77B | $3.86B | $2.70 |
| Q2 2025 | $15.34B | $3.86B | $2.70 |
Based on FMP financials and quantitative analysis
AIPUY Latest News
-
Stocks That Hit 52-Week Lows On Friday
· Feb 28, 2020
-
Stocks That Hit 52-Week Lows On Thursday
· Feb 27, 2020
-
Stocks That Hit 52-Week Lows On Wednesday
· Feb 26, 2020
AIPUY Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for AIPUY.
Price Targets
Wall Street price target analysis for AIPUY.
AIPUY MoonshotScore
What does this score mean?
The MoonshotScore rates AIPUY's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: Paweena Jariyathitipong
Managing Director
Paweena Jariyathitipong serves as the Managing Director of Airports of Thailand Public Company Limited, overseeing the operations of six international airports and managing a workforce of 4094 employees. Her career spans various leadership roles within the aviation and infrastructure sectors. She brings extensive experience in strategic planning, operational management, and stakeholder engagement. Her educational background includes advanced degrees in business administration and engineering.
Track Record: Under Paweena Jariyathitipong's leadership, Airports of Thailand has focused on expanding airport capacity and enhancing service quality to accommodate increasing passenger traffic. Key milestones include the implementation of digital transformation initiatives and the development of sustainable airport operations. She has also prioritized strengthening relationships with airlines and tourism operators to drive revenue growth and improve customer satisfaction.
Airports of Thailand Public Company Limited ADR Information Unsponsored
An American Depositary Receipt (ADR) is a certificate representing shares of a foreign company that trades on U.S. stock exchanges. AIPUY functions as a Level 1 ADR, meaning it trades over-the-counter (OTC) without the same stringent SEC reporting requirements as listed companies. This allows U.S. investors to invest in Airports of Thailand Public Company Limited more easily.
- Home Market Ticker: Stock Exchange of Thailand (SET), Bangkok, Thailand
- ADR Level: 1
- ADR Ratio: 1:1
- Home Market Ticker: AIPU
AIPUY OTC Market Information
The OTC Other tier represents the lowest tier of the over-the-counter (OTC) market, indicating that Airports of Thailand Public Company Limited has limited regulatory oversight and reporting requirements compared to companies listed on major exchanges like the NYSE or NASDAQ. Companies in this tier may not meet the minimum financial standards or disclosure requirements necessary for exchange listing, resulting in higher risks for investors due to reduced transparency and potential for illiquidity.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Limited Regulatory Oversight: OTC stocks have less regulatory scrutiny than exchange-listed stocks.
- Information Asymmetry: Lack of readily available information can make it difficult to assess the company's true value.
- Potential for Fraud: The OTC market is more susceptible to fraudulent schemes and scams.
- Illiquidity: Low trading volumes can make it difficult to buy or sell shares.
- Price Volatility: OTC stocks can experience significant price swings due to limited trading activity.
- Verify the company's registration and legal standing.
- Review available financial statements and disclosures.
- Assess the company's business model and competitive landscape.
- Research the background and reputation of the management team.
- Evaluate the liquidity and trading volume of the stock.
- Understand the risks associated with investing in OTC securities.
- Consult with a qualified financial advisor.
- Established Business Operations: Airports of Thailand Public Company Limited has a long history of operating international airports in Thailand.
- Publicly Available Information: Some financial information may be available through the company's website or regulatory filings in Thailand.
- Industry Recognition: The company is a recognized player in the aviation industry in Southeast Asia.
- Operational Infrastructure: The company manages and operates physical airport infrastructure, which provides a tangible asset base.
Common Questions About AIPUY (Industrials)
What does Airports of Thailand Public Company Limited do?
Airports of Thailand Public Company Limited (AOT) is responsible for managing and operating six international airports in Thailand. These airports are critical infrastructure hubs that facilitate both domestic and international travel. AOT's core business involves providing airport management services, including air traffic control, ground handling, and passenger services. Additionally, AOT engages in hotel and restaurant operations, ground aviation services, security services, and perishable goods handling, diversifying its revenue streams and enhancing its service offerings within the aviation ecosystem.
What do analysts say about AIPUY stock?
Analyst coverage on Airports of Thailand Public Company Limited (AIPUY) is limited due to its OTC listing. Key valuation metrics to consider include its P/E ratio of 45.2 and profit margin of 27.1%. Growth considerations revolve around Thailand's tourism sector and AOT's ability to expand airport capacity and improve operational efficiency. Investors should conduct thorough due diligence and assess the risks associated with OTC-traded securities before making any investment decisions. Analyst consensus is Unknown.
What are the main risks for AIPUY?
The main risks for Airports of Thailand Public Company Limited (AIPUY) include its high dependence on tourism and economic conditions, making it vulnerable to economic downturns and declines in air travel demand. Geopolitical instability and security threats can also disrupt airport operations and impact passenger traffic. Regulatory changes and environmental regulations may increase compliance costs and affect profitability. Additionally, competition from other airports and transportation modes poses a threat to AOT's market share and revenue growth.
What are the key factors to evaluate for AIPUY?
Airports of Thailand Public Company Limited (AIPUY) holds an AI score of 48/100 (low). P/E: 45.2x vs the S&P 500's ~20-25x. Not financial advice.
How frequently does AIPUY data refresh on this page?
AIPUY prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven AIPUY's recent stock price performance?
Airports of Thailand Public Company Limited (AIPUY) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Strategic locations of its six international airports. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider AIPUY overvalued or undervalued right now?
Airports of Thailand Public Company Limited (AIPUY) trades at 45.2x earnings. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying AIPUY?
Before investing in Airports of Thailand Public Company Limited (AIPUY), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Financial data and market estimates are based on available information as of 2026-05-31.
- OTC market data may be limited and less reliable than exchange-listed securities.