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KT Medical Service Public Company (KTMS) Fair Value & Analysis

Healthcare · TH · Market cap 399M THB

KM KT Medical Service Public Company KTMS · BK
Price1.42 THB
Fair Value3.04 THB
Upside+114.1%
Quality50/100
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Expensive Growth
Thin margins · 5.7% net margin
Low debt · negative free cash flow
0.97% dividend yield
Ranks above peers (9/13)
Narrow moat 40/100
Evidence: High Range 2.23 THB – 3.86 THB Share as image

Fair value as of: Jul 18, 2026

From 17 valuation models · updated 23 days ago

Share price +7.6% over the past month.

A solid business, screening 114% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (2.23 THB). The market is more pessimistic than our downside scenario.
  • Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (4 years)

4.31 THB 1.15 THB Fair Value 3.04 THB Dec 2022 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

44‑month range 1.15 THB – 4.31 THB · fair‑value band 2.23 THB – 3.86 THB · the 1.42 THB price screens below the 3.04 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

KT Medical Service Public Company (KTMS) currently trades at 1.42 THB, while our model-based Fair Value estimate is 3.04 THB, implying the stock looks roughly 114.1% undervalued today. The Quality Score stands at 50/100 (solid 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: high), always confirm before acting.

Over the trailing twelve months, KT Medical Service Public Company generated revenue of 713M THB at a net margin of 5.7%. Revenue grew 3.2% year over year. It earns a return on equity of 7.5%. Net debt stands at 63.5M THB. Fundamentals as of Jul 18, 2026

Our scenario range runs from 2.23 THB (bear case) to 3.86 THB (bull case); at 1.42 THB, the current price sits below 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 39% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at 11% fair-value upside, at 114%, KTMS 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
Residual Income 1.41 THB 1.48 THB 1.57 THB 76
ROIC Compounder 1.24 THB 1.40 THB 1.54 THB 72
Gordon GGM 0.1800 THB 0.3300 THB 0.4500 THB 70
All 17 models by family
DCF Models
Owner Earnings 1.02 THB 2.09 THB 4.07 THB 31
Earnings-Based
Graham-Dodd 1.01 THB 7.01 THB 9.84 THB 54
Lynch FV 2.42 THB 3.45 THB 4.49 THB 50
PEG = 1.0 2.42 THB 3.45 THB 4.49 THB 46
EPV 1.24 THB 1.40 THB 1.54 THB 59
Dividend Discount
Gordon GGM 0.1800 THB 0.3300 THB 0.4500 THB 70
DDM Multi-Stage 0.1800 THB 0.3000 THB 0.3500 THB 61
Multiples
P/E Multiple 2.44 THB 3.25 THB 4.07 THB 63
P/S Multiple 1.89 THB 2.51 THB 3.14 THB 58
P/B Multiple 1.89 THB 2.51 THB 3.14 THB 55
EV/EBIT 2.47 THB 3.28 THB 4.10 THB 53
EV/EBITDA 3.64 THB 4.85 THB 6.06 THB 54
EV/Revenue 1.77 THB 2.52 THB 3.26 THB 43
Asset-Based
NCAV (Graham) 0.9000 THB 1.21 THB 1.80 THB 50
Economic Profit
Residual Income 1.41 THB 1.48 THB 1.57 THB 76
ROIC Compounder 1.24 THB 1.40 THB 1.54 THB 72
Growth Earnings
Growth-Adj P/E 3.22 THB 4.60 THB 5.98 THB 68

Widest divergence: Growth Earnings (4.60 THB) versus Dividend Discount (0.3000 THB). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 713M THB
Revenue growth (YoY) +3.2%
Net margin 5.7%
Return on equity 7.5%
Free cash flow −30.1M THB FY2025
P/E ratio 9.5
More key figures
Operating margin 6.1%
EPS (TTM) 0.1400 THB
Dividend yield 1.0%
EPS growth (YoY) -36.0%
Net debt 63.5M THB FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 50 · Market factors (momentum, volatility) 34

Profitability 41
Margins and returns on capital today
Quality Growth 78
Are margins and returns improving?
Cashflow 13
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 68
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 40
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

KT Medical Service Public Company Limited engages in the operation of hemodialysis centers in Thailand. It also engages in the design, assembly, installation, and maintenance of pure water treatment system and service; and design and installation of pneumatic tube system equipment for medical service.

Full company description

KT Medical Service Public Company Limited engages in the operation of hemodialysis centers in Thailand. It also engages in the design, assembly, installation, and maintenance of pure water treatment system and service; and design and installation of pneumatic tube system equipment for medical service. The company's water treatment system is used in commercial, residential, medical service, industrial, and original equipment manufacturers of water system and medical service sector. KT Medical Service Public Company Limited was incorporated in 2015 and is based in Bangkok, Thailand. KT Medical Service Public Company Limited is a subsidiary of Filter Vision Public Company Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

KT Medical Service Public Company reported revenue of 704M THB in FY2025 versus 309M THB in FY2021, a compound +22.8%/yr. Reported net income was 44.4M THB in FY2025, compounding +27.5%/yr from FY2021.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
704M THB
Latest YoY
+17.9%
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.
+23.1%
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.
+27.2%
Avg. growth/yr (6Y) 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.
+25.3%
Revenue +22.8%/yr
FY21 309M THB
FY22 378M THB
FY23 456M THB
FY24 597M THB
FY25 704M THB
Net income +27.5%/yr
FY21 16.8M THB
FY22 21.2M THB
FY23 14.2M THB
FY24 19.2M THB
FY25 44.4M THB

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Cite: Fair Value Calculator (2026). "KT Medical Service Public Company Fair Value". https://www.fairvalue-calculator.com/stock/KTMS

Peer Group

Medical Care Facilities · 261 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 50 · Below median
Fair Value upside +114% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 4% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 6% · Below median
Revenue growth 3% · Below median
Dividend yield (TTM) 1.0% · Below median
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 9.5× · Cheaper than 75% of peers
P/B 0.74× · Cheaper than 75% of peers
P/S (TTM) 0.56× · Cheaper than median
EV/EBITDA 3.9× · Cheaper 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 100 · sector 23
FUTURE 16 · sector 24
PAST 30 · sector 30
HEALTH 98 · sector 90
DIVIDEND 19 · sector 38

Insider activity: 40/100

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.

Similar stocks

10 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
HCA Healthcare, Inc HCA $378.85 $554.93 +46%
Fresenius SE FRE €41.73 €32.15 -23%
Dr. Sulaiman Al Habib Medical Services Group 4013 235.00 SAR 112.37 SAR -52%
IHH Healthcare Berhad, an investment holding company, Q0F 2.58 SGD 1.44 SGD -44%
Tenet Healthcare Corporation THC $194.91 $338.05 +73%
Rede D'Or São Luiz S.A RDOR3 R$36.01 R$47.31 +31%
DaVita Inc DVA $231.61 $255.97 +11%
Apollo Hospitals Enterprise Limited APOLLOHOSP ₹8,955 ₹2,955 -67%
Fresenius Medical Care AG FMS $24.68 $45.60 +85%
Aier Eye Hospital Group 300015 ¥8.68 ¥7.67 -12%

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Frequently asked questions

Is KT Medical Service Public Company (KTMS) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of 3.04 THB versus a price of 1.42 THB, about +114% (undervalued).
What is the fair value of KTMS?
Our model-based fair value for KT Medical Service Public Company is 3.04 THB (as of Jul 18, 2026), built from audited fundamentals. The current price is 1.42 THB.
What is the quality score of KTMS?
KT Medical Service Public Company has a Quality Score of 50/100. 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 KT Medical Service Public Company (KTMS)?
KT Medical Service Public Company reported trailing-twelve-month revenue of about 713M THB (latest available figure, as of Jul 18, 2026).
What is the net profit margin of KTMS?
The net profit margin of KT Medical Service Public Company is about 5.7%, meaning it keeps roughly 5.7% of revenue as net income. Based on the latest reported figures.
Does KT Medical Service Public Company pay a dividend?
KT Medical Service Public Company currently shows a dividend yield of about 1.10% relative to its recent price (as of Jul 18, 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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