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KT Medical Service PCL (KTMS) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of KT Medical Service PCL THB 3.04, price THB 1.37, upside +121.9%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Healthcare · TH

KM Thin data Sep 24, 2026

KT Medical Service PCL

KTMS · BK

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value 3.04 THB · Strongly undervalued (+122%)
!Quality 50/100
!Expensive Growth (revenue 5y +27.2 %/yr)
!Thin margins · 5.7% net margin (TTM)
!Low debt · negative free cash flow
·0.95% dividend yield
✓Ranks above peers (8/13)
!Narrow moat 40/100
!Insider activity 40/100
!Evidence only low, so the estimate is less certain
!Weak on future: 16 out of 100
!Weak on dividend: 19 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

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

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

45‑month range 1.15 THB – 4.31 THB · fair‑value band 2.23 THB – 3.86 THB · the 1.37 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 Sep 24, 2026.

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Company profile

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.

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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.

Stock analysis

KT Medical Service PCL (KTMS) currently trades at 1.37 THB, while our model-based Fair Value estimate is 3.04 THB, implying the stock looks roughly 54.9% undervalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 4.60 THB per share, and 14 of the 17 models we run sit above the 1.37 THB price.

Bear case: the Dividend Discount group reads lowest at 0.3500 THB, and 3 of the 17 models stay below the price. Evidence for this calculation is low.

Scenario range: 2.23 THB (bear) to 3.86 THB (bull), the price of 1.37 THB sits below 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 50/100 (solid quality), in the Healthcare sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

KT Medical Service PCL 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.

Key figures

Market cap 411M THB (≈ $12.3M) · P/E ratio 9.8 · P/S ratio 0.62 · EPS (TTM) 0.1400 THB · Dividend yield 0.9% · Net margin 6.3% · Return on equity 7.5% · Return on assets (EBIT) 5.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).

What moves the price

The share trades about 39% below its 52-week high and 19% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 35% fair-value upside, at 122%, KTMS screens cheaper than that median.

Fair Value models

Bear 2.23 THB Fair Value 3.04 THB Bull 3.86 THB
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.0932 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. Evidence ⓘEvidence = 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.
Highest evidence
Residual Income 1.48 THB 1.58 THB 1.78 THB 76
EPV 1.40 THB 1.62 THB 1.81 THB 74
ROIC Compounder 1.40 THB 1.62 THB 1.81 THB 72
All 17 models by family
DCF Models
Owner Earnings 1.41 THB 3.10 THB 6.51 THB 71
Earnings-Based
Graham-Dodd 1.01 THB 7.01 THB 9.84 THB 63
Lynch FV 2.42 THB 3.45 THB 4.49 THB 61
PEG = 1.0 2.42 THB 3.45 THB 4.49 THB 57
EPV 1.40 THB 1.62 THB 1.81 THB 74
Dividend Discount
Gordon GGM 0.2000 THB 0.4100 THB 0.6200 THB 66
DDM Multi-Stage 0.2000 THB 0.3500 THB 0.4300 THB 67
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 66
EV/EBITDA 3.64 THB 4.85 THB 6.06 THB 67
EV/Revenue 1.77 THB 2.52 THB 3.26 THB 53
Asset-Based
NCAV (Graham) 0.9000 THB 1.21 THB 1.80 THB 54
Economic Profit
Residual Income 1.48 THB 1.58 THB 1.78 THB 76
ROIC Compounder 1.40 THB 1.62 THB 1.81 THB 72
Growth Earnings
Growth-Adj P/E 3.22 THB 4.60 THB 5.98 THB 67

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Quality Score breakdown

Overall quality 50/100

Of which business quality 50 · Market factors (momentum, volatility) 33

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 69
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 40
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+17.9%
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.
+23.1%
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.
+27.2%
Start year 2020 (pandemic)
Revenue growth 6 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.
+25.3%
What shareholders gained per year (last 5 years), in THB (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
−12.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−13.4%
Dividend (yield on the price)0.9%
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.−10% → 8%
2025 sits 132% above its own trend. The rate follows the median trend of the last 5 years, not that single year.

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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 · 258 stocks

Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 50 · Below median
Fair Value upside +127% · Top 25%
Profitability
Return on equity (TTM) 8% · Below median
Return on assets 4% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 6% · Below median
Growth and dividend
Revenue growth 3% · Below median
Dividend yield (TTM) 0.9% · Below median
Balance sheet
Debt / equity 0.05× · Lowest 25%

Valuation Multiplesvs Medical Care Facilities median · lower = cheaper

P/E (TTM) 9.8× · Cheapest 25%
P/B 0.74× · Cheaper than median
P/S (TTM) 0.56× · Cheaper than median
EV/EBITDA 4.0× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 33
FUTURE (revenue growth)16 · sector 28
PAST (return on equity)30 · sector 31
HEALTH (low debt)98 · sector 89
DIVIDEND (yield)19 · sector 43

Context: sector, industry, market

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

Similar stocks

10 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
HCA Healthcare, Inc HCA $438.12 $592.64 +35%
Fresenius SE FRE €45.57 €34.54 −24%
Dr. Sulaiman Al Habib Medical Services Group 4013 227.50 SAR 109.45 SAR −52%
IHH Healthcare Berhad, an investment holding company, 5225 8.00 MYR 4.87 MYR −39%
Tenet Healthcare Corporation THC $262.06 $399.58 +52%
DaVita Inc DVA $183.72 $255.97 +39%
Apollo Hospitals Enterprise Limited APOLLOHOSP ₹9,069 ₹2,908 −68%
Fresenius Medical Care AG FME €39.30 €71.28 +81%
Aier Eye Hospital Group 300015 ¥8.07 ¥10.86 +35%
Encompass Health Corporation EHC $122.76 $96.51 −21%

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

Frequently asked questions

Is KT Medical Service PCL (KTMS) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 3.04 THB versus a price of 1.37 THB, about +122% upside (undervalued).
What is the fair value of KTMS?
Our model-based fair value for KT Medical Service PCL is 3.04 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 1.37 THB.
What is the quality score of KTMS?
KT Medical Service PCL 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 price target for KT Medical Service PCL (KTMS)?
Our model-based price target is the fair value of 3.04 THB (as of Sep 24, 2026) from 17 valuation models. Cautious scenario 2.23 THB, optimistic scenario 3.86 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the KT Medical Service PCL stock forecast for 2026?
Our models put fair value at 3.04 THB, about +122% upside versus a price of 1.37 THB (undervalued). Cautious scenario 2.23 THB, optimistic scenario 3.86 THB. The calculation is refreshed regularly with new filings.
What is the revenue of KT Medical Service PCL (KTMS)?
KT Medical Service PCL reported trailing-twelve-month revenue of about 713M THB (latest available figure, as of Sep 24, 2026).
Does KT Medical Service PCL pay a dividend?
KT Medical Service PCL currently shows a dividend yield of about 0.95% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of KT Medical Service PCL (KTMS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KT Medical Service PCL it is 3.04 THB per share (as of Sep 24, 2026), against a price of 1.37 THB. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is KT Medical Service PCL stock overvalued or undervalued in 2026?
As of Sep 24, 2026, KTMS trades below its calculated fair value: price 1.37 THB, fair value 3.04 THB, a gap of about +122% (undervalued). 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 KTMS?
No. The price is what the market pays today (1.37 THB); the fair value is what the company's own numbers justify (3.04 THB). For KT Medical Service PCL the two are 1.67 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is KT Medical Service PCL worth?
The market values KT Medical Service PCL at about 411M THB (market capitalisation, as of Sep 24, 2026). Per share that is 1.37 THB; our models calculate a fair value of 3.04 THB per share.
What do the bullish and bearish scenarios say about KTMS?
Our models span a range for KT Medical Service PCL: cautious scenario 2.23 THB, base 3.04 THB, optimistic 3.86 THB per share (as of Sep 24, 2026, price 1.37 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KTMS?
KT Medical Service PCL trades at a price-to-earnings ratio of 9.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 3.04 THB is built from several models across several years. Other multiples: P/B 0.7, P/S 0.6, EV/EBITDA 4.0.
How solid is the balance sheet of KT Medical Service PCL (KTMS)?
Balance-sheet figures for KT Medical Service PCL (as of Sep 24, 2026): return on equity 7.5%, debt of 0.05 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is KTMS from its 52-week high?
KT Medical Service PCL trades at 1.37 THB, about 39% below its 52-week high of 2.26 THB and 19% above the low of 1.15 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 3.04 THB is for.
Which stocks are comparable to KT Medical Service PCL?
From the same area (Healthcare) we also value HCA Healthcare, Inc, Fresenius SE, Dr. Sulaiman Al Habib Medical Services Group, IHH Healthcare Berhad, an investment holding company,, 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 KT Medical Service PCL stock attractive at the current price?
The data as of Sep 24, 2026: price 1.37 THB, calculated fair value 3.04 THB (+122%), Quality Score 50/100, from 17 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 KTMS calculated?
We run KT Medical Service PCL through 17 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 3.04 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 13.2 % above its aggregate fair value. KT Medical Service PCL currently trades 122 % 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 KT Medical Service PCL (KTMS)?
The closing price on Sep 24, 2026 was 1.37 THB. Our model-based fair value is 3.04 THB, about +122% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KT Medical Service PCL right now?
The price is below even our cautious bear case (2.23 THB). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of KT Medical Service PCL

How large is the market capitalisation of KT Medical Service PCL (KTMS)?
The market capitalisation of KT Medical Service PCL is 411M THB (≈ $12.3M). 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 KT Medical Service PCL (KTMS)?
The price-to-sales ratio of KT Medical Service PCL is 0.62 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of KT Medical Service PCL (KTMS)?
Earnings per share at KT Medical Service PCL are 0.1400 THB (price ÷ EPS = P/E 9.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of KT Medical Service PCL (KTMS)?
The dividend yield of KT Medical Service PCL is 0.9% (payout 9.3%). 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 KT Medical Service PCL (KTMS)?
The net margin of KT Medical Service PCL is 6.3% (fiscal year 2025). 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 KT Medical Service PCL (KTMS)?
The return on equity (ROE) of KT Medical Service PCL is 7.5% (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 KT Medical Service PCL (KTMS)?
On an EBIT basis the return on assets of KT Medical Service PCL is 5.0% (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 KT Medical Service PCL (KTMS)?
The operating margin of KT Medical Service PCL is 6.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KT Medical Service PCL (KTMS)?
Revenue at KT Medical Service PCL is growing +3.2% versus a year earlier (3y avg +23.1%). 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 KT Medical Service PCL (KTMS)?
Earnings per share at KT Medical Service PCL are growing −36.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does KT Medical Service PCL (KTMS) generate?
The free cash flow of KT Medical Service PCL is −30.1M THB (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does KT Medical Service PCL (KTMS) carry?
The net debt of KT Medical Service PCL is 63.5M THB (fiscal year 2025). 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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