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Bumrungrad Hospital Public Company (BH) Fair Value & Analysis

Healthcare · TH · Market cap 146B THB

BH Bumrungrad Hospital Public Company BH · BK
Price195.00 THB
Fair Value159.35 THB
Upside-18.3%
Quality70/100
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Mixed Growth
Highly profitable · 29.7% net margin
Low debt · generates free cash flow
2.73% dividend yield
Mixed vs. peers (8/15)
Wide moat 89/100
Evidence: High Range 106.38 THB – 225.75 THB Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 2 days ago

Fair value updated Aug 13, 2026, revised from 180.85 THB to 159.35 THB (−11.9%) since Jul 15, 2026. Share price +6.3% over the past month.

A solid business, but screening 18% overvalued on our models.

What matters now

  • A high-quality business (quality 70/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • A fairly wide model range (106.38 THB to 225.75 THB) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

265.86 THB 105.33 THB Fair Value 159.35 THB Mar 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 105.33 THB – 265.86 THB · fair‑value band 106.38 THB – 225.75 THB · the 195.00 THB price screens above the 159.35 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

Bumrungrad Hospital Public Company (BH) currently trades at 195.00 THB, while our model-based Fair Value estimate is 159.35 THB, implying the stock looks roughly 18.3% overvalued today. The Quality Score stands at 70/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Bumrungrad Hospital Public Company generated revenue of 25.5B THB at a net margin of 29.7%. Revenue grew 0.7% year over year. It earns a return on equity of 24.4%. The balance sheet holds a net cash position of 7.1B THB. Fundamentals as of Aug 13, 2026

Our scenario range runs from 106.38 THB (bear case) to 225.75 THB (bull case); at 195.00 THB, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 7% below its 52-week high and 54% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -14% fair-value upside, at -18%, BH screens richer 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 104.29 THB 148.43 THB 211.02 THB 80
Residual Income 59.39 THB 75.23 THB 285.61 THB 76
Rev-Margin DCF 83.09 THB 122.22 THB 166.76 THB 74
All 26 models by family
DCF Models
FCF DCF 102.44 THB 151.79 THB 226.00 THB 38
Owner Earnings 103.30 THB 153.11 THB 228.01 THB 31
5Y Revenue Exit 83.09 THB 121.51 THB 169.58 THB 39
5Y EBITDA Exit 116.98 THB 184.22 THB 261.81 THB 41
5Y P/E Exit 131.83 THB 211.69 THB 294.65 THB 38
10Y Revenue Exit 87.28 THB 123.79 THB 171.03 THB 36
10Y EBITDA Exit 110.79 THB 167.07 THB 240.71 THB 37
10Y P/E Exit 120.22 THB 186.03 THB 265.52 THB 35
Earnings-Based
Graham-Dodd 64.25 THB 189.03 THB 249.96 THB 54
Lynch FV 39.55 THB 56.51 THB 73.46 THB 50
PEG = 1.0 39.55 THB 56.51 THB 73.46 THB 46
EPV 93.92 THB 107.98 THB 120.29 THB 59
Dividend Discount
Gordon GGM 45.91 THB 95.46 THB 151.43 THB 70
DDM Multi-Stage 45.91 THB 74.08 THB 100.18 THB 61
Multiples
P/E Multiple 155.91 THB 207.88 THB 259.85 THB 63
P/S Multiple 82.99 THB 110.66 THB 138.32 THB 58
P/B Multiple 120.48 THB 160.64 THB 200.79 THB 55
EV/EBIT 150.37 THB 197.31 THB 244.26 THB 53
EV/EBITDA 139.61 THB 182.97 THB 226.34 THB 54
EV/Revenue 75.92 THB 104.38 THB 132.83 THB 43
Asset-Based
NCAV (Graham) 19.21 THB 25.74 THB 38.42 THB 50
Growth DCF
Growth DCF 104.29 THB 148.43 THB 211.02 THB 80
Rev-Margin DCF 83.09 THB 122.22 THB 166.76 THB 74
Economic Profit
Residual Income 59.39 THB 75.23 THB 285.61 THB 76
ROIC Compounder 98.89 THB 120.19 THB 143.51 THB 72
Growth Earnings
Growth-Adj P/E 125.91 THB 179.87 THB 233.83 THB 68

Widest divergence: Growth Earnings (179.87 THB) versus Asset-Based (25.74 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 25.5B THB
Revenue growth (YoY) +0.7%
Net margin 29.7%
Return on equity 24.4%
Free cash flow 6.6B THB FY2025
P/E ratio 22.3
More key figures
Operating margin 34.7%
EPS (TTM) 8.73 THB
Dividend yield 2.7%
EPS growth (YoY) +3.0%
Net cash 7.1B THB FY2025

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

Quality Score breakdown

Overall quality 70/100

Of which business quality 70 · Market factors (momentum, volatility) 71

Profitability 79
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 78
Earnings quality: real cash, not paper profit
Fin. Strength 93
Balance sheet, leverage, solvency risk
Investment 39
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 75
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

Bumrungrad Hospital Public Company Limited owns and operates hospitals and healthcare centers in Thailand and internationally.

Full company description

Bumrungrad Hospital Public Company Limited owns and operates hospitals and healthcare centers in Thailand and internationally. It offers services in the areas of allergy, arrhythmia, behavioural health, breast, home, heart valve, robotic surgery, rehabilitation, spine, pediatrics, colorectal surgery, complex coronary artery intervention, comprehensive sleep, cornea transplant, dental, diagnostic, dialysis, radiology and nuclear medicine, digestive disease, ear, nose, throat, emergency, endocrinology, esperance, diabetes, expatriate liaison, eye, fertility, gastrointestinal motility, health screening, holistic wound care, horizon regional cancer, hyperbaric oxygen therapy, nephrology, neuroscience, orthopaedics, perinatal, plastic surgery, pulmonary, refractive surgery, memory, robotic scoliosis, skin, sports medicine and joint, surgery, travel medicine, urology, scientific wellness, skin and aesthetic, and women's centers. The company also operates breastfeeding, Yangon, COVID-19 recovery, IVF, hearing and balance, medical, new life healthy aging, Parkinson's disease and movement disorders, pride, surgery, and vaccine clinics and centers. In addition, it operates spine institute, heart institute, and intensive care unit; and offers nutrition services, pharmacy services, preventive genomics and integrative medicine services. Bumrungrad Hospital Public Company Limited was founded in 1975 and is based in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bumrungrad Hospital Public Company reported revenue of 25.1B THB in FY2025 versus 12.5B THB in FY2021, a compound +19.2%/yr. Reported net income was 7.5B THB in FY2025, compounding +57.7%/yr from FY2021.

Growth Quality 94/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
25.1B THB
Latest YoY
−2.3%
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.
+6.6%
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.
+15.2%
Avg. growth/yr (25Y) 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.
+9.7%
Revenue +19.2%/yr
FY21 12.5B THB
FY22 20.7B THB
FY23 25.4B THB
FY24 25.7B THB
FY25 25.1B THB
Net income +57.7%/yr
FY21 1.2B THB
FY22 4.9B THB
FY23 7.0B THB
FY24 7.8B THB
FY25 7.5B THB
Character of growth · EPS growth decomposed (2014-2025) +9.6 % p.a.
Revenue per share +4.5 pp

of which total revenue +4.5 pp · buybacks/dilution +0.0 pp

EBIT margin +4.0 pp
Tax rate +0.1 pp
Residual (interest, one-offs) +1.0 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

BH screens 18% overvalued. Compare with HCA Healthcare, Inc →

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Cite: Fair Value Calculator (2026). "Bumrungrad Hospital Public Company Fair Value". https://www.fairvalue-calculator.com/stock/BH

Peer Group

Medical Care Facilities · 265 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 70 · Top 25%
Fair Value upside −18% · Below median
Return on equity (TTM) 24% · Top 25%
Return on assets 16% · Top 25%
Net margin (TTM) 30% · Top 25%
Operating margin (TTM) 35% · Top 25%
Revenue growth 1% · Below median
Dividend yield (TTM) 2.7% · Above median
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 22.3× · Pricier than median
P/B 4.78× · Pricier than 75% of peers
P/S (TTM) 5.72× · Pricier than 75% of peers
P/FCF 0.7× · Cheaper than median
EV/EBITDA 13.6× · Pricier than median
PEG 14.60× · 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 9 · sector 26
FUTURE 4 · sector 24
PAST 98 · sector 30
HEALTH 100 · sector 90
DIVIDEND 55 · 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 Bumrungrad Hospital Public Company (BH) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 159.35 THB versus a price of 195.00 THB, about −18% (overvalued).
What is the fair value of BH?
Our model-based fair value for Bumrungrad Hospital Public Company is 159.35 THB (as of Aug 13, 2026), built from audited fundamentals. The current price is 195.00 THB.
What is the quality score of BH?
Bumrungrad Hospital Public Company has a Quality Score of 70/100. 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 Bumrungrad Hospital Public Company (BH)?
Bumrungrad Hospital Public Company reported trailing-twelve-month revenue of about 25.5B THB (latest available figure, as of Aug 13, 2026).
What is the net profit margin of BH?
The net profit margin of Bumrungrad Hospital Public Company is about 29.7%, meaning it keeps roughly 29.7% of revenue as net income. Based on the latest reported figures.
Does Bumrungrad Hospital Public Company pay a dividend?
Bumrungrad Hospital Public Company currently shows a dividend yield of about 2.79% relative to its recent price (as of Aug 13, 2026).

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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