Bangkok Dusit Medical Services Public Company Limited (BDMS) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Bangkok Dusit Medical Services Public Company Limited stock THB 21.78, price THB 20.10, upside +8.4%, quality 65 out of 100. Rating: fairly valued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range 17.23 THB – 29.33 THB · fair‑value band 13.61 THB – 28.33 THB · the 20.10 THB price screens below the 21.78 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Bangkok Dusit Medical Services Public Company Limited, together with its subsidiaries, operates hospitals in Thailand and internationally. It operates through two segments Hospital Operations; and Other Businesses That Support Hospital Business.
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The company operates hospitals under the Bangkok Hospital Group, Samitivej Hospital Group, BNH Hospital, Phyathai Hospital Group, Paolo Hospital, and Royal Hospital Group names; and BDMS Wellness Clinic.
It also offers medical laboratory, holistic clinical wellness, accounting, technology and information, training, investment and asset management, air transportation, skin and aesthetics telemedicine, and genomic medicine services; operates hotels and pharmacies; provides health insurance and insurance brokerage services; retails medicine and pharmaceutical products; and distributes health products and cosmetic products, as well as facility management services.
In addition, the company is involved in production and distribution of medicines, pharmaceutical products, medical equipment, and saline; real estate; e-commerce; and investment and operation of BDMS silver wellness and residence products.
Bangkok Dusit Medical Services Public Company Limited was founded in 1969 and is headquartered in Bangkok, Thailand.
Stock analysis
Bangkok Dusit Medical Services Public Company Limited (BDMS) currently trades at 20.10 THB, while our model-based Fair Value estimate is 21.78 THB, so the stock looks roughly fairly valued today (gap 7.7%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 18.99 THB per share, and 8 of the 26 models we run sit above the 20.10 THB price.
Bear case: the Asset-Based group reads lowest at 3.61 THB, and 18 of the 26 models stay below the price. Data coverage for this calculation is low.
Scenario range: 13.61 THB (bear) to 28.33 THB (bull), the price of 20.10 THB sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Bangkok Dusit Medical Services Public Company Limited reported revenue of 112B THB in FY2025 versus 74.5B THB in FY2021, a compound +10.6%/yr. Reported net income was 15.8B THB in FY2025, compounding +18.9%/yr from FY2021.
Key figures
Market cap 319B THB (≈ $9.5B) Mid · P/E ratio 20.7 · P/S ratio 2.81 · EPS (TTM) 0.9700 THB · Dividend yield 3.2% · Net margin 13.5% · Return on equity 14.9% · Return on assets (EBIT) 11.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 61 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 17% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −7% fair-value upside, at 8%, BDMS screens cheaper than that median.
Fair Value models
Bear13.61 THBFair Value 21.78 THBBull28.33 THB
Price 20.10 THB · Upside +8.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.2718 THB per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.92/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+3.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.4%
Start year 2020 (pandemic). Over 10 years: +5.9% a year
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.3%
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What shareholders gained per year (last 5 years), in THB ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in THB: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+18.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.8%
Dividend (yield on the price)3.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.14.8% vs 6.9%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.16% → 17%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+14.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+4.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about +13.2% a year for the price and +3.1% for the forecasts.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Care Facilities · 235 stocks
Beats the industry median on 8/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside+8.4% · Above median
Profitability
Return on equity (12 months)14.9% · Above median
Return on assets10.0% · Top 25%
Net margin (12 months)13.5% · Top 25%
Operating margin (12 months)15.3% · Above median
Growth and dividend
Revenue growth (quarter YoY)1.4% · Below median
Dividend yield (12 months)3.2% · Above median
Balance sheet
Debt / equity0.03× · Lowest 25%
Valuation Multiplesvs Medical Care Facilities median · lower = cheaper
P/E (12 months)20.7× · Pricier than median
P/B3.02× · Pricier than median
P/S (12 months)2.81× · Priciest 25%
Price / free cash flow (fiscal year)24.5× · Pricier than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Bangkok Dusit Medical Services Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/BDMS
Frequently asked questions
Is Bangkok Dusit Medical Services Public Company Limited (BDMS) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 21.78 THB versus a price of 20.10 THB, about +8% upside (fairly valued).
What is the fair value of BDMS?
Our model-based fair value for Bangkok Dusit Medical Services Public Company Limited is 21.78 THB (as of Nov 5, 2026), built from audited fundamentals. The current price: 20.10 THB.
What is the quality score of BDMS?
Bangkok Dusit Medical Services Public Company Limited has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Bangkok Dusit Medical Services Public Company Limited (BDMS)?
Our model-based price target is the fair value of 21.78 THB (as of Nov 5, 2026) from 26 valuation models. Cautious scenario 13.61 THB, optimistic scenario 28.33 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Bangkok Dusit Medical Services Public Company Limited stock forecast for 2026?
Our models put fair value at 21.78 THB, about +8% upside versus a price of 20.10 THB (fairly valued). Cautious scenario 13.61 THB, optimistic scenario 28.33 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Bangkok Dusit Medical Services Public Company Limited (BDMS)?
Bangkok Dusit Medical Services Public Company Limited reported trailing-twelve-month revenue of about 114B THB (latest available figure, as of Nov 5, 2026).
Does Bangkok Dusit Medical Services Public Company Limited pay a dividend?
Bangkok Dusit Medical Services Public Company Limited currently shows a dividend yield of 3.23% relative to its recent price (as of Nov 5, 2026).
What growth is priced into Bangkok Dusit Medical Services Public Company Limited (BDMS)?
For today's price to be fair in a discounted-cash-flow model, Bangkok Dusit Medical Services Public Company Limited would have to grow free cash flow by +14.5 % per year for five years (discount rate 10.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.4 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of BDMS use?
Our models discount Bangkok Dusit Medical Services Public Company Limited at 10.1 %: a base by market capitalisation (mid), damped by beta 0.27, country premium for Thailand. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Bangkok Dusit Medical Services Public Company Limited that is +14.5 % per year a year over ten years, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has Bangkok Dusit Medical Services Public Company Limited (BDMS) delivered so far?
Over the past 5 years revenue at Bangkok Dusit Medical Services Public Company Limited grew +10.4 % a year. The price currently implies +14.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Bangkok Dusit Medical Services Public Company Limited (BDMS) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into Bangkok Dusit Medical Services Public Company Limited (+14.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Bangkok Dusit Medical Services Public Company Limited (BDMS)?
The free-cash-flow yield on the price is 4.08 %: that much free cash flow Bangkok Dusit Medical Services Public Company Limited produces per unit of market value. When it exceeds the discount rate of our models (10.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Bangkok Dusit Medical Services Public Company Limited (BDMS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bangkok Dusit Medical Services Public Company Limited it is 21.78 THB per share (as of Nov 5, 2026), against a price of 20.10 THB. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Bangkok Dusit Medical Services Public Company Limited stock overvalued or undervalued in 2026?
As of Nov 5, 2026, BDMS trades below its calculated fair value: price 20.10 THB, fair value 21.78 THB, a gap of about +8% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BDMS?
No. The price is what the market pays today (20.10 THB); the fair value is what the company's own numbers justify (21.78 THB). For Bangkok Dusit Medical Services Public Company Limited the two are 1.68 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Bangkok Dusit Medical Services Public Company Limited worth?
The market values Bangkok Dusit Medical Services Public Company Limited at about 319B THB (market capitalisation, as of Nov 5, 2026). Per share that is 20.10 THB; our models calculate a fair value of 21.78 THB per share.
What do the bullish and bearish scenarios say about BDMS?
Our models span a range for Bangkok Dusit Medical Services Public Company Limited: cautious scenario 13.61 THB, base 21.78 THB, optimistic 28.33 THB per share (as of Nov 5, 2026, price 20.10 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BDMS?
Bangkok Dusit Medical Services Public Company Limited trades at a price-to-earnings ratio of 20.7 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 21.78 THB is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 34.1. Other multiples: PEG 5.2, P/B 3.0, P/S 2.8, EV/EBITDA 12.2.
What is the PEG ratio of BDMS?
The PEG ratio of Bangkok Dusit Medical Services Public Company Limited is 5.22 (P/E divided by earnings growth, as of Nov 5, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Bangkok Dusit Medical Services Public Company Limited (BDMS)?
Balance-sheet figures for Bangkok Dusit Medical Services Public Company Limited (as of Nov 5, 2026): return on equity 14.9%, debt of 0.03 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is BDMS from its 52-week high?
Bangkok Dusit Medical Services Public Company Limited trades at 20.10 THB, about 8% below its 52-week high of 21.84 THB and 17% above the low of 17.23 THB (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of 21.78 THB is for.
Which stocks are comparable to Bangkok Dusit Medical Services Public Company Limited?
From the same area (Healthcare) we also value HCA Healthcare, Inc, Fresenius SE, Tenet Healthcare Corporation, Dr. Sulaiman Al Habib Medical Services Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Bangkok Dusit Medical Services Public Company Limited stock attractive at the current price?
The data as of Nov 5, 2026: price 20.10 THB, calculated fair value 21.78 THB (+8%), Quality Score 65/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BDMS calculated?
We run Bangkok Dusit Medical Services Public Company Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 21.78 THB, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Bangkok Dusit Medical Services Public Company Limited currently trades 8% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Bangkok Dusit Medical Services Public Company Limited (BDMS)?
The closing price on Nov 5, 2026 was 20.10 THB. Our model-based fair value is 21.78 THB, about +8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bangkok Dusit Medical Services Public Company Limited right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (13.61 THB to 28.33 THB) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of Bangkok Dusit Medical Services Public Company Limited (BDMS) come from?
Earnings per share at Bangkok Dusit Medical Services Public Company Limited grew +7.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.9 %, EBIT margin +1.9 %, tax rate −0.1 %, residual (interest, one-offs) −0.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Bangkok Dusit Medical Services Public Company Limited
How large is the market capitalisation of Bangkok Dusit Medical Services Public Company Limited (BDMS)?
The market capitalisation of Bangkok Dusit Medical Services Public Company Limited is 319B THB (≈ $9.5B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Bangkok Dusit Medical Services Public Company Limited (BDMS)?
The price-to-sales ratio of Bangkok Dusit Medical Services Public Company Limited is 2.81 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Bangkok Dusit Medical Services Public Company Limited (BDMS)?
Earnings per share at Bangkok Dusit Medical Services Public Company Limited are 0.9700 THB (price ÷ EPS = P/E 20.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Bangkok Dusit Medical Services Public Company Limited (BDMS)?
The dividend yield of Bangkok Dusit Medical Services Public Company Limited is 3.2% (payout 67.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Bangkok Dusit Medical Services Public Company Limited (BDMS)?
The net margin of Bangkok Dusit Medical Services Public Company Limited is 13.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Bangkok Dusit Medical Services Public Company Limited (BDMS)?
The return on equity (ROE) of Bangkok Dusit Medical Services Public Company Limited is 14.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Bangkok Dusit Medical Services Public Company Limited (BDMS)?
On an EBIT basis the return on assets of Bangkok Dusit Medical Services Public Company Limited is 11.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Bangkok Dusit Medical Services Public Company Limited (BDMS)?
The operating margin of Bangkok Dusit Medical Services Public Company Limited is 15.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bangkok Dusit Medical Services Public Company Limited (BDMS)?
Revenue at Bangkok Dusit Medical Services Public Company Limited is growing +1.4% versus a year earlier (3y avg +6.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Bangkok Dusit Medical Services Public Company Limited (BDMS)?
Earnings per share at Bangkok Dusit Medical Services Public Company Limited are growing −6.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Bangkok Dusit Medical Services Public Company Limited (BDMS) carry?
The net debt of Bangkok Dusit Medical Services Public Company Limited is 18.8B THB (fiscal year 2025, ≈ 1.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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