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THOMSON MEDICAL GROUP LIMITED (A50) Fair Value & Analysis

Healthcare · SG · Market cap 1.4B SGD

TM THOMSON MEDICAL GROUP LIMITED A50 · SG
Price0.0540 SGD
Fair Value0.0540 SGD
Upside+0.0%
Quality42/100
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Mixed Growth
Loss-making · -9.6% net margin
High debt · generates free cash flow
Trails peers (2/12)
Narrow moat 14/100
Evidence: Medium Share as image

Fair value as of: Aug 13, 2026

From 5 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from 0.0302 SGD to 0.0540 SGD (+78.7%) since Aug 9, 2026. Share price +1.9% over the past month.

Below-average quality, currently priced close to our fair value.

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What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Quality 42/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

0.0986 SGD 0.0400 SGD Fair Value 0.0540 SGD May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 0.0400 SGD – 0.0986 SGD · the 0.0540 SGD price screens below the 0.0540 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

THOMSON MEDICAL GROUP LIMITED (A50) currently trades at 0.0540 SGD, while our model-based Fair Value estimate is 0.0540 SGD, implying the stock looks roughly 0.0% fairly valued today. The Quality Score stands at 42/100 (below-average quality), in the Healthcare sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, THOMSON MEDICAL GROUP LIMITED generated revenue of 470M SGD at a net margin of -9.6%. Revenue grew 6.9% year over year. It earns a return on equity of -7.5%. Net debt stands at 982M SGD. Fundamentals as of Aug 13, 2026

The share trades about 21% below its 52-week high and 29% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -14% fair-value upside, at 0%, A50 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Growth DCF 0.0200 SGD 80
NCAV (Graham) 0.0100 SGD 0.0100 SGD 0.0200 SGD 50
5Y EBITDA Exit 0.0300 SGD 41
All 5 models by family
DCF Models
FCF DCF 0.0200 SGD 38
5Y EBITDA Exit 0.0300 SGD 41
10Y EBITDA Exit 0.0100 SGD 0.0500 SGD 37
Asset-Based
NCAV (Graham) 0.0100 SGD 0.0100 SGD 0.0200 SGD 50
Growth DCF
Growth DCF 0.0200 SGD 80

Widest divergence: DCF Models (0.0100 SGD) versus DCF Models (0.0100 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 470M SGD
Revenue growth (YoY) +6.9%
Net margin -9.6%
Return on equity -7.5%
Free cash flow 33.8M SGD FY2024
Operating margin 8.4%
More key figures
EPS growth (YoY) -3.8%
Net debt 982M SGD FY2024

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 41 · Market factors (momentum, volatility) 54

Profitability 9
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 11
Balance sheet, leverage, solvency risk
Investment 78
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Thomson Medical Group Limited, an investment holding company, provides healthcare services for women and children in Singapore, Malaysia, and Vietnam. The company owns and operates the Thomson Medical Centre, as well as a network of medical clinics and facilities.

Full company description

Thomson Medical Group Limited, an investment holding company, provides healthcare services for women and children in Singapore, Malaysia, and Vietnam. The company owns and operates the Thomson Medical Centre, as well as a network of medical clinics and facilities. It also offers urgent care services, such as basic resuscitation, ECG, vaccinations, IM/IV fluid and IV antibiotic administration, surgeries and procedures, wound care and stitching, and X-ray and basic laboratory tests; health screening services; services related to skin and aesthetics, and pain and rehab management; and herbal tea. In addition, the company provides specialized services, such as women's health, children's health, fertility and family planning, eye health, general surgery, urology, preventive health and healthy ageing, diagnostic imaging, breast health, cardiology, respiratory medicine and critical care, endocrinology, dermatology, day surgery, surgical care, counselling and therapy, traditional Chinese medicine (TCM), as well as bone, joint, gynecological oncology, dentistry, and spine health. It offers its products and services under the Thomson Women's Clinic, Thomson Fertility Centre, Thomson Paediatric Clinic, Thomson Specialists, Thomson Chinese Medicine, Thomson Surgical Centre, Thomson Dental Centre, Thomson Hospital Kota Damansara, TMC Fertility, TMC Care Pharmacy, FV Hospital, and FV Saigon Clinic brands. Thomson Medical Group Limited was founded in 1979 and is based in Singapore.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

THOMSON MEDICAL GROUP LIMITED reported revenue of 395M SGD in FY2024 versus 240M SGD in FY2020, a compound +13.2%/yr. Reported net income was −47.6M SGD in FY2024.

Growth Quality 33/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
395M SGD
Latest YoY
+12.4%
Avg. growth/yr (3Y) 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.
+5.8%
Avg. growth/yr (5Y) 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.
+3.8%
Avg. growth/yr (15Y) 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.
+95.5%
Revenue +13.2%/yr
FY20 240M SGD
FY21 334M SGD
FY22 356M SGD
FY23 351M SGD
FY24 395M SGD
Net income
FY20 14.2M SGD
FY21 53.8M SGD
FY22 36.6M SGD
FY23 14.2M SGD
FY24 −47.6M SGD

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Cite: Fair Value Calculator (2026). "THOMSON MEDICAL GROUP LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/A50

Peer Group

Medical Care Facilities · 267 stocks

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.

Quality Score 42 · Bottom 25%
Fair Value upside +0% · Above median
Return on assets 0% · Bottom 25%
Net margin (TTM) -10% · Bottom 25%
Operating margin (TTM) 8% · Below median
Revenue growth 7% · Above median
Debt / equity 2.00× · Higher than 75% of peers

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/B 2.33× · Pricier than median
P/S (TTM) 2.34× · Pricier than 75% of peers
P/FCF 32.5× · Pricier than 75% of peers
EV/EBITDA 48.9× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 33 · sector 27
FUTURE 35 · sector 23
PAST 0 · sector 29
HEALTH 0 · sector 90
DIVIDEND 0 · sector 41

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

Is THOMSON MEDICAL GROUP LIMITED (A50) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.0540 SGD versus a price of 0.0540 SGD, about +0% (fairly valued).
What is the fair value of A50?
Our model-based fair value for THOMSON MEDICAL GROUP LIMITED is 0.0540 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.0540 SGD.
What is the quality score of A50?
THOMSON MEDICAL GROUP LIMITED has a Quality Score of 42/100. 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 revenue of THOMSON MEDICAL GROUP LIMITED (A50)?
THOMSON MEDICAL GROUP LIMITED reported trailing-twelve-month revenue of about 470M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of A50?
The net profit margin of THOMSON MEDICAL GROUP LIMITED is about -9.6%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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