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Patrangsit Healthcare Group (PHG) Fair Value & Analysis

Healthcare · TH · Market cap 3.0B THB

PH Patrangsit Healthcare Group PHG · BK
Price10.40 THB
Fair Value20.63 THB
Upside+98.4%
Quality63/100
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Healthy Growth
Solidly profitable · 11.1% net margin
Low debt · generates free cash flow
6.86% dividend yield
Ranks above peers (12/14)
Moderate moat 52/100
Evidence: High Range 13.09 THB – 25.79 THB Share as image

Fair value as of: Jul 16, 2026

From 24 valuation models · updated 25 days ago

Share price +1.0% over the past month.

A solid business, screening 98% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (13.09 THB). The market is more pessimistic than our downside scenario.
  • Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (13.09 THB to 25.79 THB) leaves room in how you read the outcome.
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Price vs Fair Value (3 years)

15.62 THB 9.96 THB Fair Value 20.63 THB Jul 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

37‑month range 9.96 THB – 15.62 THB · fair‑value band 13.09 THB – 25.79 THB · the 10.40 THB price screens below the 20.63 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Patrangsit Healthcare Group (PHG) currently trades at 10.40 THB, while our model-based Fair Value estimate is 20.63 THB, implying the stock looks roughly 98.4% undervalued today. The Quality Score stands at 63/100 (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, Patrangsit Healthcare Group generated revenue of 2.5B THB at a net margin of 11.1%. Revenue declined 3.1% year over year. It earns a return on equity of 12.6%. Net debt stands at 134M THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 13.09 THB (bear case) to 25.79 THB (bull case); at 10.40 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 26% below its 52-week high and 6% 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 98%, PHG 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
Growth DCF 11.16 THB 16.25 THB 23.31 THB 80
Residual Income 7.08 THB 8.80 THB 20.08 THB 76
Rev-Margin DCF 11.32 THB 18.15 THB 26.07 THB 74
All 24 models by family
DCF Models
FCF DCF 11.03 THB 16.86 THB 25.49 THB 38
Owner Earnings 12.70 THB 19.45 THB 29.42 THB 31
5Y Revenue Exit 11.32 THB 18.17 THB 26.93 THB 39
5Y EBITDA Exit 13.98 THB 23.18 THB 33.97 THB 41
5Y P/E Exit 13.84 THB 22.91 THB 32.49 THB 38
10Y Revenue Exit 10.76 THB 16.90 THB 25.22 THB 36
10Y EBITDA Exit 12.76 THB 20.32 THB 30.51 THB 37
10Y P/E Exit 12.67 THB 20.13 THB 29.40 THB 35
Earnings-Based
Graham-Dodd 7.01 THB 22.65 THB 30.24 THB 54
Lynch FV 5.04 THB 7.20 THB 9.36 THB 50
PEG = 1.0 5.04 THB 7.20 THB 9.36 THB 46
EPV 9.54 THB 11.01 THB 12.28 THB 59
Multiples
P/E Multiple 17.02 THB 22.69 THB 28.37 THB 63
P/S Multiple 13.15 THB 17.54 THB 21.92 THB 58
P/B Multiple 13.15 THB 17.54 THB 21.92 THB 55
EV/EBIT 16.75 THB 22.24 THB 27.74 THB 53
EV/EBITDA 17.53 THB 23.28 THB 29.04 THB 54
EV/Revenue 12.02 THB 17.07 THB 22.11 THB 43
Asset-Based
NCAV (Graham) 3.69 THB 4.94 THB 7.37 THB 50
Growth DCF
Growth DCF 11.16 THB 16.25 THB 23.31 THB 80
Rev-Margin DCF 11.32 THB 18.15 THB 26.07 THB 74
Economic Profit
Residual Income 7.08 THB 8.80 THB 20.08 THB 76
ROIC Compounder 10.02 THB 12.57 THB 15.65 THB 72
Growth Earnings
Growth-Adj P/E 14.18 THB 20.26 THB 26.34 THB 68

Widest divergence: Growth Earnings (20.26 THB) versus Asset-Based (4.94 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 2.5B THB
Revenue growth (YoY) -3.1%
Net margin 11.1%
Return on equity 12.6%
Free cash flow 297M THB FY2025
P/E ratio 11.1
More key figures
Operating margin 8.5%
EPS (TTM) 0.9200 THB
Dividend yield 6.9%
EPS growth (YoY) -43.3%
Net debt 134M THB FY2022

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 66 · Market factors (momentum, volatility) 40

Profitability 59
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 37
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 21
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 82
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

Patrangsit Healthcare Group Public Company Limited operates hospitals in Thailand. The company offers physical therapy, pediatric, eye, psychiatry, child and adolescent psychiatry, dental, pediatric dental, pediatric skin, pediatric gastrointestinal tract and liver, pediatric nervous system, orthopedic surgery, chest and heart surgery, general surgery, …

Full company description

Patrangsit Healthcare Group Public Company Limited operates hospitals in Thailand. The company offers physical therapy, pediatric, eye, psychiatry, child and adolescent psychiatry, dental, pediatric dental, pediatric skin, pediatric gastrointestinal tract and liver, pediatric nervous system, orthopedic surgery, chest and heart surgery, general surgery, urology surgery, neurosurgery, obstetrics and gynecology, ear, nose, throat, internal medicine, gastrointestinal and liver medicine, neuro medicine, pulmonary and respiratory, cardiology, hematology, pediatric pulmonary and respiratory, skin clinic, and pediatrics allergy services. It also provides pediatrics heart and kidney, hemodialysis, health check-up, radiology and laboratory, men's health services, gastrointestinal tract endoscopy, chemotherapy, and women oncology services. Patrangsit Healthcare Group Public Company Limited was incorporated in 1984 and is based in Pathum Thani, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Patrangsit Healthcare Group reported revenue of 2.5B THB in FY2025 versus 2.0B THB in FY2021, a compound +6.2%/yr. Reported net income was 309M THB in FY2025, compounding −0.6%/yr from FY2021.

Growth Quality 84/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
2.5B THB
Latest YoY
+10.3%
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.
+7.1%
Revenue +6.2%/yr
FY21 2.0B THB
FY22 2.0B THB
FY23 2.1B THB
FY24 2.3B THB
FY25 2.5B THB
Net income −0.6%/yr
FY21 317M THB
FY22 293M THB
FY23 259M THB
FY24 252M THB
FY25 309M THB

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Cite: Fair Value Calculator (2026). "Patrangsit Healthcare Group Fair Value". https://www.fairvalue-calculator.com/stock/PHG

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 63 · Top 25%
Fair Value upside +98% · Top 25%
Return on equity (TTM) 13% · Above median
Return on assets 7% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 9% · Above median
Revenue growth -3% · Bottom 25%
Dividend yield (TTM) 6.9% · Top 25%
Debt / equity 0.12× · Lower than median

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 11.0× · Cheaper than 75% of peers
P/B 1.37× · Cheaper than median
P/S (TTM) 1.22× · Pricier than median
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 7.2× · Cheaper than median

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 0 · sector 24
PAST 50 · sector 30
HEALTH 94 · sector 90
DIVIDEND 100 · 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 16, 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 Patrangsit Healthcare Group (PHG) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 20.63 THB versus a price of 10.40 THB, about +98% (undervalued).
What is the fair value of PHG?
Our model-based fair value for Patrangsit Healthcare Group is 20.63 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 10.40 THB.
What is the quality score of PHG?
Patrangsit Healthcare Group has a Quality Score of 63/100. 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 Patrangsit Healthcare Group (PHG)?
Patrangsit Healthcare Group reported trailing-twelve-month revenue of about 2.5B THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of PHG?
The net profit margin of Patrangsit Healthcare Group is about 11.1%, meaning it keeps roughly 11.1% of revenue as net income. Based on the latest reported figures.
Does Patrangsit Healthcare Group pay a dividend?
Patrangsit Healthcare Group currently shows a dividend yield of about 6.73% relative to its recent price (as of Jul 16, 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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