Mahachai Hospital Public Company Limited (M-CHAI) fair value: what the stock is really worth
As of Oct 19, 2026: fair value (intrinsic value) of Mahachai Hospital Public Company Limited stock THB 20.46, price THB 18.30, upside +11.8%, quality 55 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
60‑month range 15.47 THB – 78.91 THB · fair‑value band 18.99 THB – 27.35 THB · the 18.30 THB price screens below the 20.46 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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Mahachai Hospital Public Company Limited, together with its subsidiaries, operates private hospitals in Thailand. The company operates its hospitals under the Mahachai, Mahachai 2, Mahachai Petcharat, Mahachai 3, Mahachai Maeklong, Med Park, Chopaya, Mahachai Prompathya names.
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It is also involved in the trading of medical and other supplies, as well as sells medicines; and offers medical services. In addition, the company engages in infertility center and medical clinic services.
Mahachai Hospital Public Company Limited was incorporated in 1987 and is headquartered in Samut Sakhon, Thailand.
Stock analysis
Mahachai Hospital Public Company Limited (M-CHAI) currently trades at 18.30 THB, while our model-based Fair Value estimate is 20.46 THB, implying the stock looks roughly 10.6% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 53.13 THB per share, and 14 of the 23 models we run sit above the 18.30 THB price.
Bear case: the Dividend Discount group reads lowest at 2.62 THB, and 9 of the 23 models stay below the price. Data coverage for this calculation is low.
Scenario range: 18.99 THB (bear) to 27.35 THB (bull), the price of 18.30 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 55/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Mahachai Hospital Public Company Limited reported revenue of 6.5B THB in FY2025 versus 4.7B THB in FY2021, a compound +8.6%/yr. Reported net income was 153M THB in FY2025, compounding +5.8%/yr from FY2021.
Key figures
Market cap 2.9B THB (≈ $87.2M) Micro · P/E ratio 17.9 · P/S ratio 0.44 · EPS (TTM) 1.02 THB · Dividend yield 2.2% · Net margin 2.4% · Return on equity 6.1% · Return on assets (EBIT) 4.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 20% fair-value upside, at 12%, M-CHAI screens richer than that median.
Fair Value models
Bear18.99 THBFair Value 20.46 THBBull27.35 THB
Price 18.30 THB · Upside +11.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.4977 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
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.84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−1.6%
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.
+2.7%
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.
+20.5%
Start year 2020 (pandemic). Over 10 years: +13.1% a year
Revenue growth 25 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.
+11.4%
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What shareholders gained per year (last 5 years), in THB ⓘ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. Basis: EBIT basis. 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.
+10.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.8%
Dividend (yield on the price)2.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5.2% vs −1.0%, picking up
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.0% → 7%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−2.8%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about −3.9% a year for the price.
Compare Mahachai Hospital Public Company Limited with another stock
Price, fair value, quality and upside side by side.
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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 · 242 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score55 · Below median
Fair Value upside+11.8% · Above median
Profitability
Return on equity (12 months)6.1% · Below median
Return on assets1.4% · Below median
Net margin (12 months)2.4% · Below median
Operating margin (12 months)6.7% · Below median
Growth and dividend
Revenue growth (quarter YoY)2.3% · Below median
Dividend yield (12 months)2.2% · Above median
Balance sheet
Debt / equity1.70× · Highest 25%
Valuation Multiplesvs Medical Care Facilities median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Mahachai Hospital Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/M-CHAI
Frequently asked questions
Is Mahachai Hospital Public Company Limited (M-CHAI) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of 20.46 THB versus a price of 18.30 THB, about +12% upside (undervalued).
What is the fair value of M-CHAI?
Our model-based fair value for Mahachai Hospital Public Company Limited is 20.46 THB (as of Oct 2, 2026), built from audited fundamentals. The current price: 18.30 THB.
What is the quality score of M-CHAI?
Mahachai Hospital Public Company Limited has a Quality Score of 55/100. 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 Mahachai Hospital Public Company Limited (M-CHAI)?
Our model-based price target is the fair value of 20.46 THB (as of Oct 2, 2026) from 24 valuation models. Cautious scenario 18.99 THB, optimistic scenario 27.35 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Mahachai Hospital Public Company Limited stock forecast for 2026?
Our models put fair value at 20.46 THB, about +12% upside versus a price of 18.30 THB (undervalued). Cautious scenario 18.99 THB, optimistic scenario 27.35 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Mahachai Hospital Public Company Limited (M-CHAI)?
Mahachai Hospital Public Company Limited reported trailing-twelve-month revenue of about 6.7B THB (latest available figure, as of Oct 2, 2026).
Does Mahachai Hospital Public Company Limited pay a dividend?
Mahachai Hospital Public Company Limited currently shows a dividend yield of 2.19% relative to its recent price (as of Oct 2, 2026).
What growth is priced into Mahachai Hospital Public Company Limited (M-CHAI)?
For today's price to be fair in a discounted-cash-flow model, Mahachai Hospital Public Company Limited would have to grow free cash flow by -2.8 % per year for five years (discount rate 13.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +20.5 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of M-CHAI use?
Our models discount Mahachai Hospital Public Company Limited at 13.1 %: a base by market capitalisation (micro), damped by beta 0.49, country premium for Thailand. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Mahachai Hospital Public Company Limited that is -2.8 % per year a year over ten years, using the same discount rate (13.1 %) and the same formula as our fair value.
How much growth has Mahachai Hospital Public Company Limited (M-CHAI) delivered so far?
Over the past 5 years revenue at Mahachai Hospital Public Company Limited grew +20.5 % a year. The price currently implies -2.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Mahachai Hospital Public Company Limited (M-CHAI) growing?
The median revenue growth in the sector is +5.6 % a year. That is the yardstick for the growth priced into Mahachai Hospital Public Company Limited (-2.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Mahachai Hospital Public Company Limited (M-CHAI)?
The free-cash-flow yield on the price is 36.06 %: that much free cash flow Mahachai Hospital Public Company Limited produces per unit of market value. When it exceeds the discount rate of our models (13.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Mahachai Hospital Public Company Limited (M-CHAI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Mahachai Hospital Public Company Limited it is 20.46 THB per share (as of Oct 2, 2026), against a price of 18.30 THB. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Mahachai Hospital Public Company Limited stock overvalued or undervalued in 2026?
As of Oct 2, 2026, M-CHAI trades below its calculated fair value: price 18.30 THB, fair value 20.46 THB, a gap of about +12% (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 M-CHAI?
No. The price is what the market pays today (18.30 THB); the fair value is what the company's own numbers justify (20.46 THB). For Mahachai Hospital Public Company Limited the two are 2.16 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Mahachai Hospital Public Company Limited worth?
The market values Mahachai Hospital Public Company Limited at about 2.9B THB (market capitalisation, as of Oct 2, 2026). Per share that is 18.30 THB; our models calculate a fair value of 20.46 THB per share.
What do the bullish and bearish scenarios say about M-CHAI?
Our models span a range for Mahachai Hospital Public Company Limited: cautious scenario 18.99 THB, base 20.46 THB, optimistic 27.35 THB per share (as of Oct 2, 2026, price 18.30 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of M-CHAI?
Mahachai Hospital Public Company Limited trades at a price-to-earnings ratio of 17.9 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 20.46 THB is built from several models across several years. Other multiples: P/B 1.3, P/S 0.4, EV/EBITDA 6.2.
How solid is the balance sheet of Mahachai Hospital Public Company Limited (M-CHAI)?
Balance-sheet figures for Mahachai Hospital Public Company Limited (as of Oct 2, 2026): return on equity 6.1%, debt of 1.70 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is M-CHAI from its 52-week high?
Mahachai Hospital Public Company Limited trades at 18.30 THB, about 17% below its 52-week high of 22.03 THB and 2% above the low of 18.00 THB (as of Oct 19, 2026). Distance from the high says nothing about value: that is what the fair value of 20.46 THB is for.
Which stocks are comparable to Mahachai Hospital Public Company Limited?
From the same area (Healthcare) we also value HCA Healthcare, Inc, Fresenius SE, Dr. Sulaiman Al Habib Medical Services Group, Tenet Healthcare Corporation, 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 Mahachai Hospital Public Company Limited stock attractive at the current price?
The data as of Oct 2, 2026: price 18.30 THB, calculated fair value 20.46 THB (+12%), Quality Score 55/100, from 24 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 M-CHAI calculated?
We run Mahachai Hospital Public Company Limited through 24 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 20.46 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 13.9 % above its aggregate fair value. Mahachai Hospital Public Company Limited currently trades 11 % 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 Mahachai Hospital Public Company Limited (M-CHAI)?
The closing price on Oct 19, 2026 was 18.30 THB. Our model-based fair value is 20.46 THB, about +12% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Mahachai Hospital Public Company Limited right now?
The price is below even our cautious bear case (18.99 THB). The market is more pessimistic than our downside scenario. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of Mahachai Hospital Public Company Limited (M-CHAI) come from?
Earnings per share at Mahachai Hospital Public Company Limited grew +1.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +14.4 %, EBIT margin −2.3 %, tax rate −0.5 %, residual (interest, one-offs) −9.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Mahachai Hospital Public Company Limited
How large is the market capitalisation of Mahachai Hospital Public Company Limited (M-CHAI)?
The market capitalisation of Mahachai Hospital Public Company Limited is 2.9B THB (≈ $87.2M). 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 Mahachai Hospital Public Company Limited (M-CHAI)?
The price-to-sales ratio of Mahachai Hospital Public Company Limited is 0.44 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Mahachai Hospital Public Company Limited (M-CHAI)?
Earnings per share at Mahachai Hospital Public Company Limited are 1.02 THB (price ÷ EPS = P/E 17.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Mahachai Hospital Public Company Limited (M-CHAI)?
The dividend yield of Mahachai Hospital Public Company Limited is 2.2% (payout 39.2%). 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 Mahachai Hospital Public Company Limited (M-CHAI)?
The net margin of Mahachai Hospital Public Company Limited is 2.4% (last twelve months). 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 Mahachai Hospital Public Company Limited (M-CHAI)?
The return on equity (ROE) of Mahachai Hospital Public Company Limited is 6.1% (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 Mahachai Hospital Public Company Limited (M-CHAI)?
On an EBIT basis the return on assets of Mahachai Hospital Public Company Limited is 4.4% (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 Mahachai Hospital Public Company Limited (M-CHAI)?
The operating margin of Mahachai Hospital Public Company Limited is 6.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Mahachai Hospital Public Company Limited (M-CHAI)?
Revenue at Mahachai Hospital Public Company Limited is growing +2.3% versus a year earlier (3y avg +2.7%). 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 Mahachai Hospital Public Company Limited (M-CHAI)?
Earnings per share at Mahachai Hospital Public Company Limited are growing +15.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Mahachai Hospital Public Company Limited (M-CHAI) carry?
The net debt of Mahachai Hospital Public Company Limited is 6.2B THB (fiscal year 2025, ≈ 5.8 yrs of FCF). 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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Oct 2, 2026