` Comparison: THAI vs IAG - Alpha Spread

T
THAI
vs
IAG

Over the past 12 months, THAI has underperformed IAG, delivering a return of -44% compared to the IAG's +24% growth.

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THAI
IAG
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Valuation Comparison

T
THAI Intrinsic Value
3.46 THB
Overvaluation 50%
Intrinsic Value
Price
IAG Intrinsic Value
936.57 GBX
Undervaluation 56%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
T
Thai Airways International PCL
SET:THAI
6.95 THB
International Consolidated Airlines Group SA
LSE:IAG
416.3 GBX
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Growth Comparison

Growth Over Time
THAI, IAG

THAI
IAG
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
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T
Thai Airways International PCL
Revenue
International Consolidated Airlines Group SA
Revenue

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

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Profitability Comparison

Free Cash Flow
THAI, IAG

THAI
IAG
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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
T
Thai Airways International PCL
SET:THAI
International Consolidated Airlines Group SA
LSE:IAG
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What is Free Cash Flow?

Gross Margin

THAI
50.8%
IAG
78.3%

Operating Margin

THAI
24.4%
IAG
14.3%

Net Margin

THAI
-11.1%
IAG
9.4%

FCF Margin

THAI
15.7%
IAG
7.1%

ROE

THAI
-94.5%
IAG
70.8%

ROA

THAI
-7.4%
IAG
8.8%

ROIC

THAI
27%
IAG
12%

ROCE

THAI
22.4%
IAG
26%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
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Performance Gap
THAI, IAG

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

Performance By Year
THAI, IAG

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