Fact based stock research
Asia Aviation (SET:AAV)

TH3437010004

How to read the free ranks

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Asia Aviation stock research in summary

aavplc.com

ANALYSIS: With an Obermatt Combined Rank of 15 (worse than 85% compared with investment alternatives), Asia Aviation (Airlines, Thailand) shares have lower financial characteristics compared with similar stocks. Shares of Asia Aviation are a good value (attractively priced) with a consolidated Value Rank of 78 (better than 78% of alternatives) but show below-average growth (Growth Rank of 1), and are riskily financed (Safety Rank of 19), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 15, is a sell recommendation based on Asia Aviation's financial characteristics. As the company Asia Aviation's key financial metrics exhibit good value (Obermatt Value Rank of 78) but low growth (Obermatt Growth Rank of 1) and risky financing practices (Obermatt Safety Rank of 19), it may be a risky investment, because debt in times of crises can make things worse. The good value, better than 78% of comparable companies, may indicate the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	78
Growth Rank	1
Safety Rank	19
Combined Rank	15

Country	Thailand
Industry	Airlines
Index
Size class	Small

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

Why popular stocks have low ratings

It’s easier said than done. When your stock drops, it’s easy to want to sell it and find a better performer. Think twice, or even three times, before trading. Those fees (especially the hidden ones) can eat up your gains.

Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Asia Aviation

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	59	43	59	78
GROWTH
GROWTH	35	45	63	1
SAFETY
SAFETY	8	6	8	19
SENTIMENT
SENTIMENT	53	53	97	^new
360° VIEW
360° VIEW	21	24	75	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Asia Aviation is in the corresponding investment strategy.
Upgrade to a Premium Account to access the latest ranks.

Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	59	43	59	78
GROWTH
GROWTH	35	45	63	1
SAFETY
SAFETY	8	6	8	19
COMBINED
COMBINED	12	14	38	15

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Asia Aviation the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 78 (better than 78% compared with alternatives) for 2025, Asia Aviation shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators, with three out of four indicators above average for Asia Aviation. Price-to-Sales (P/S) is 97, which means that the stock price compared with what market professionals expect for future sales is lower than for 97% of comparable companies, indicating a good value regarding Asia Aviation's revenue size. The same is valid for expected Price to Profits (or Price / Earnings, P/E), more favorable than for 95% of alternatives, and it's also true for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 74. But, compared with other companies in the same industry, dividend yields are expected to be lower than average; only 1% of all competitors have even lower dividend yields than Asia Aviation (a Dividend Yield Rank of 1). 99% alternative investments in the same business provide a higher dividend yield. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 78, is a buy recommendation based on Asia Aviation's stock price compared with the company's operational size and dividend yields. The below-average dividend yield may be a good sign, as it could mean the company has more attractive investment opportunities for the generated cash than to pay it out as dividends. A low dividend yield can also indicate a growth phase. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	75	87	89	97
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	3	26	84	95
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	55	19	34	74
DIVIDEND YIELD
DIVIDEND YIELD	36	37	1	1
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	59	43	59	78

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Asia Aviation; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 1 (better than 1% compared with alternatives), Asia Aviation shows one of the most restricted growth dynamics in its industry. There is little momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four indicators below average for Asia Aviation. Only Capital Growth has a good rank of 50, which means that currently professionals expect the company to grow its invested capital more than 6% of its competitors. The other three indicators are pointing South: Sales Growth has a rank of 21 which means that currently professionals expect the company to grow less than 79% of its competitors. Profit Growth with a rank of 6 and Stock Returns with a rank of 5 are also low (below 95% of alternative investments). ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 1, is a sell recommendation for growth and momentum investors. The good news from the invested capital side is surprising. A company with disappointing revenues, profits, and disappointed shareholders typically doesn't invest above average. Overall, the growth momentum for Asia Aviation is thus negative. As it is intriguing to see that company executives are optimistic about their investment policy, it is worthwhile looking into the details of the capital investment projects. They may indicate future growth and profits and thus if accompanied by a good value, a sign of good timing to invest in the stock. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is limited here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	98	34	39	21
PROFIT GROWTH
PROFIT GROWTH	11	78	100	6
CAPITAL GROWTH
CAPITAL GROWTH	17	69	46	50
STOCK RETURNS
STOCK RETURNS	59	11	45	5
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	35	45	63	1

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Asia Aviation.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 19 (better than 19% compared with alternatives), the company Asia Aviation has much riskier financing practices than comparable other companies, which means that their overall debt burden is significantly above the industry average. This doesn't mean that the business of Asia Aviation is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Asia Aviation. Liquidity is at 59, meaning the company generates more profit to service its debt than 59% of its competitors. This indicates that the company is safer when it comes to debt service. But Refinancing is riskier at a rank of 5, which means that the portion of the debt that is about to be refinanced is above average. It has more debt in the refinancing stage than 95% of its competitors. Leverage is also high at a rank of 12, which means that the company has an above-average debt-to-equity ratio. It has more debt than 88% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 19 (worse than 81% compared with alternatives), Asia Aviation has a financing structure that is significantly riskier than that of its competitors. High Leverage (a low Obermatt Leverage Rank) is good in good times, because it usually indicates that shareholders get higher returns. The good Liquidity performance of the company is an indicator that this is the case. However, if you expect an economic downturn, you may stay clear of this stock because they have an above-average debt level that needs refinancing soon. If the company is sailing with good winds, as may be visible from the Growth and Sentiment performance, the refinancing risk may be lower than the low Refinancing rank suggests. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	20	8	11	12
REFINANCING
REFINANCING	7	9	8	5
LIQUIDITY
LIQUIDITY	10	1	23	59
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	8	6	8	19

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Asia Aviation and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	11	81	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	50	36	^new
PRO HOLDINGS
PRO HOLDINGS	37	42	76	^new
MARKET PULSE
MARKET PULSE	100	96	100	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	53	53	97	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Asia Aviation.
Upgrade to a Premium Account to access the latest ranks.