Master Style Public Company (MASTER) Fair Value & Analysis
Healthcare · TH · Market cap 2.8B THB
Fair value as of: Jul 17, 2026
From 26 valuation models · updated 23 days ago
Fair value updated Jul 17, 2026, revised from 14.44 THB to 12.08 THB (−16.3%) since Jun 24, 2026. Share price +0.6% over the past month.
A solid business, screening 37% undervalued on our models.
What matters now
- Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
- Our model range runs from 8.94 THB (bear) to 15.73 THB (bull), base 12.08 THB. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 51/100 (solid quality) with high evidence: the data supports the verdict.
Price vs Fair Value (4 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.
How to read this chart
42‑month range 7.00 THB – 67.99 THB · fair‑value band 8.94 THB – 15.73 THB · the 8.85 THB price screens below the 12.08 THB fair value. Dashed = 300-day average. As of Jul 17, 2026.
Analysis
Master Style Public Company (MASTER) currently trades at 8.85 THB, while our model-based Fair Value estimate is 12.08 THB, implying the stock looks roughly 36.5% undervalued today. The Quality Score stands at 51/100 (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, Master Style Public Company generated revenue of 1.9B THB at a net margin of 10.9%. Revenue declined 7.9% year over year. It earns a return on equity of 5.8%. Net debt stands at 773M THB. Fundamentals as of Jul 17, 2026
Our scenario range runs from 8.94 THB (bear case) to 15.73 THB (bull case); at 8.85 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 41% below its 52-week high and 29% 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 37%, MASTER 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.
All 26 models by family
Widest divergence: DCF Models (23.78 THB) versus Economic Profit (7.28 THB). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 33
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
Master Style Public Company Limited operates a cosmetic surgery hospital under the Masterpiece Hospital name in Thailand. The company offers surgical services, including rhinoplasty; eye, eyebrow, and forehead lifts; vaser liposuction and body transformation; tummy tuck; facial restructuring; eye; and other beauty surgeries.
Full company description
Master Style Public Company Limited operates a cosmetic surgery hospital under the Masterpiece Hospital name in Thailand. The company offers surgical services, including rhinoplasty; eye, eyebrow, and forehead lifts; vaser liposuction and body transformation; tummy tuck; facial restructuring; eye; and other beauty surgeries. It also provides hair transplant and treatment services; skin care and laser treatments; after-surgery and hair transplant services, such as after breast augmentation surgery program, after liposuction surgery program, and after hair transplantation program; and after surgery self-care products comprising support bra for breast augmentation surgery, forehead bandage for eyebrow lift surgery, and other products. In addition, the company engages in the trading of cosmetic products. Master Style Public Company Limited was founded in 2012 and is headquartered in Bangkok, Thailand.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Master Style Public Company reported revenue of 1.9B THB in FY2025 versus 660M THB in FY2021, a compound +30.0%/yr. Reported net income was 198M THB in FY2025, compounding +5.0%/yr from FY2021.
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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.
Valuation Multiples vs Medical Care Facilities median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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 17, 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
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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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