Raffles Medical Group (BSL) Fair Value & Analysis
Healthcare · SG · Market cap 1.7B SGD
Fair value as of: Jul 4, 2026
From 26 valuation models · updated 11 days ago
Price vs Fair Value (12 months)
12‑month range 0.9100 SGD – 1.04 SGD · fair‑value band 0.6100 SGD – 1.02 SGD · the 0.9400 SGD price screens above the 0.8200 SGD fair value. As of Jul 4, 2026.
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Raffles Medical Group (BSL) currently trades at 0.9400 SGD, while our model-based Fair Value estimate is 0.8200 SGD — implying the stock looks roughly 12.8% overvalued today. We read business quality at 66/100 (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, Raffles Medical Group generated revenue of 766M SGD at a net margin of 9.2%. Revenue grew 0.1% year over year. It earns a return on equity of 6.7%. Net debt stands at 13.3M SGD. Fundamentals as of Jul 4, 2026
Our scenario range runs from 0.6100 SGD (bear case) to 1.02 SGD (bull case); at 0.9400 SGD, the current price sits within that range. The share trades about 11% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at 7% fair-value upside — at -13%, BSL screens richer than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 4, 2026. TTM = trailing twelve months.
About the company
Raffles Medical Group Ltd provides private healthcare services in Singapore, Greater China, Vietnam, Cambodia, and Japan. It operates through four segments: Healthcare Services, Hospital Services, Investment Holdings, and Insurance Services. The company operates Raffles Hospital that offers 24-hour acute and critical care; ambulance services and mobile medical calls to home, hotels, worksites, and onboard ships; and triage, emergency consultation, and inpatient ward admission services. Its hospital also provides various services, including covid 19 test, health screening, executive medical centre, statutory health check, dental, and chinese medicine; and specialist centers for cancer, children, counselling, diabetes and endocrine, dialysis, eye, fertility, heart, internal medicine, neuroscience, nuclear medicine, orthopaedic, pain management, rehabilitation, skin and aesthetics, surgery, urology, and woman, as well as ear, nose, and throat. In addition, the company offers health …
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Raffles Medical Group reported revenue of 765M SGD in FY2025 versus 724M SGD in FY2021, a compound +1.4%/yr. Reported net income was 70.6M SGD in FY2025, compounding −4.3%/yr from FY2021.
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Similar stocks
10 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Jul 4, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| HCA Healthcare, Inc H1CA34 | R$97.60 | R$115.75 | +19% |
| Fresenius SE FSNUY | $11.30 | $8.61 | -24% |
| IHH Healthcare Berhad, an investment holding company, Q0F | 2.76 SGD | 1.28 SGD | -54% |
| Rede D'Or São Luiz S.A RDOR3 | R$32.50 | R$46.04 | +42% |
| Tenet Healthcare Corporation THC | $164.77 | $280.85 | +70% |
| Apollo Hospitals Enterprise Limited APOLLOHOSP | ₹8,489 | ₹2,128 | -75% |
| DaVita Inc DVAI34 | R$1,030 | R$1,096 | +7% |
| Fresenius Medical Care AG FMS | $23.70 | $45.51 | +92% |
| Aier Eye Hospital Group 300015 | ¥8.54 | ¥6.73 | -21% |
| Bangkok Dusit Medical Services Public Company BDUUF | $0.6400 | $0.4600 | -28% |
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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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Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.