` Comparison: AF vs THAI - Alpha Spread

A
AF
vs
T
THAI

Over the past 12 months, AF has significantly outperformed THAI, delivering a return of +44% compared to the THAI's 41% drop.

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AF
THAI
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Valuation Comparison

A
AF Intrinsic Value
66.285 EUR
Undervaluation 84%
Intrinsic Value
Price
T
THAI Intrinsic Value
4.75 THB
Overvaluation 35%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
A
Air France KLM SA
PAR:AF
10.675 EUR
T
Thai Airways International PCL
SET:THAI
7.35 THB
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Valuation Scenario:
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Growth Comparison

Growth Over Time
AF, THAI

AF
THAI
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
A
Air France KLM SA
Revenue
T
Thai Airways International PCL
Revenue

All metrics are calculated based on data from the last 10 years.

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Profitability Comparison

Free Cash Flow
AF, THAI

AF
THAI
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
A
Air France KLM SA
PAR:AF
T
Thai Airways International PCL
SET:THAI
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What is Free Cash Flow?

Gross Margin

AF
45.3%
THAI
50.8%

Operating Margin

AF
6.1%
THAI
24.4%

Net Margin

AF
2.9%
THAI
-11.1%

FCF Margin

AF
2.5%
THAI
15.7%

ROE

AF
-115.4%
THAI
-94.5%

ROA

AF
2.6%
THAI
-7.4%

ROIC

AF
4.8%
THAI
27%

ROCE

AF
9.9%
THAI
22.4%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
AF, THAI

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THAI
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Performance Gap
AF, THAI

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AF
THAI
Difference
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1Y 3Y 5Y 10Y 15Y 20Y

Performance By Year
AF, THAI

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THAI
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