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Praram 9 Hospital Public Company (PR9) Fair Value & Analysis

Healthcare · TH · Market cap 14.2B THB

P9 Praram 9 Hospital Public Company PR9 · BK
Price18.40 THB
Fair Value20.22 THB
Upside+9.9%
Quality66/100
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Healthy Growth
Solidly profitable · 15.0% net margin
generates free cash flow
2.78% dividend yield
Ranks above peers (10/14)
Moderate moat 62/100
Evidence: High Range 13.25 THB – 25.33 THB Share as image

Fair value as of: Jul 16, 2026

From 26 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 22.37 THB to 20.22 THB (−9.6%) since Jun 24, 2026. Share price +4.5% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (13.25 THB to 25.33 THB) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

25.74 THB 8.62 THB Fair Value 20.22 THB Feb 2021 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

60‑month range 8.62 THB – 25.74 THB · fair‑value band 13.25 THB – 25.33 THB · the 18.40 THB price screens below the 20.22 THB fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Praram 9 Hospital Public Company (PR9) currently trades at 18.40 THB, while our model-based Fair Value estimate is 20.22 THB, implying the stock looks roughly 9.9% fairly valued today. The Quality Score stands at 66/100 (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, Praram 9 Hospital Public Company generated revenue of 5.4B THB at a net margin of 15.0%. Revenue grew 4.1% year over year. It earns a return on equity of 13.8%. The balance sheet holds a net cash position of 635M THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 13.25 THB (bear case) to 25.33 THB (bull case); at 18.40 THB, the current price sits within 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 29% 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 11% fair-value upside, at 10%, PR9 screens richer 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 7.29 THB 9.14 THB 20.97 THB 76
Growth DCF 9.70 THB 16.04 THB 26.59 THB 72
Gordon GGM 4.10 THB 8.53 THB 13.54 THB 70
All 26 models by family
DCF Models
FCF DCF 9.73 THB 16.52 THB 28.07 THB 38
Owner Earnings 11.16 THB 19.03 THB 32.44 THB 31
5Y Revenue Exit 10.62 THB 18.20 THB 28.45 THB 39
5Y EBITDA Exit 13.73 THB 24.52 THB 37.99 THB 41
5Y P/E Exit 14.41 THB 25.89 THB 38.92 THB 38
10Y Revenue Exit 9.89 THB 16.96 THB 27.67 THB 36
10Y EBITDA Exit 12.29 THB 21.55 THB 35.53 THB 37
10Y P/E Exit 12.73 THB 22.54 THB 36.30 THB 35
Earnings-Based
Graham-Dodd 7.11 THB 31.12 THB 42.58 THB 54
Lynch FV 8.03 THB 11.47 THB 14.91 THB 50
PEG = 1.0 8.03 THB 11.47 THB 14.91 THB 46
EPV 9.41 THB 10.83 THB 12.08 THB 59
Dividend Discount
Gordon GGM 4.10 THB 8.53 THB 13.54 THB 70
DDM Multi-Stage 4.10 THB 7.19 THB 8.96 THB 61
Multiples
P/E Multiple 17.26 THB 23.02 THB 28.77 THB 63
P/S Multiple 13.34 THB 17.79 THB 22.23 THB 58
P/B Multiple 13.34 THB 17.79 THB 22.23 THB 55
EV/EBIT 15.40 THB 20.25 THB 25.10 THB 53
EV/EBITDA 17.01 THB 22.40 THB 27.79 THB 54
EV/Revenue 11.23 THB 15.68 THB 20.14 THB 43
Asset-Based
NCAV (Graham) 3.74 THB 5.01 THB 7.47 THB 50
Growth DCF
Growth DCF 9.70 THB 16.04 THB 26.59 THB 72
Rev-Margin DCF 10.62 THB 17.99 THB 27.34 THB 67
Economic Profit
Residual Income 7.29 THB 9.14 THB 20.97 THB 76
ROIC Compounder 10.17 THB 13.48 THB 18.05 THB 67
Growth Earnings
Growth-Adj P/E 13.64 THB 19.48 THB 25.33 THB 68

Widest divergence: Growth Earnings (19.48 THB) versus Asset-Based (5.01 THB). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 5.4B THB
Revenue growth (YoY) +4.1%
Net margin 15.0%
Return on equity 13.8%
Free cash flow 554M THB FY2025
P/E ratio 17.5
More key figures
Operating margin 17.1%
EPS (TTM) 1.03 THB
Dividend yield 2.8%
EPS growth (YoY) -8.0%
Net cash 635M THB FY2025

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

Quality Score breakdown

Overall quality 66/100

Of which business quality 66 · Market factors (momentum, volatility) 47

Profitability 59
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 60
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 21
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

Praram 9 Hospital Public Company Limited engages in hospital operations primarily in Thailand. The company operates medicine, surgery, diabetes and metabolic, spine, orthopedic, physical therapy and rehabilitation, chest and respiratory, neurology, thyroid and thyroid surgery, obstetrics gynecology, IVF, breast, oncocare, emergency, imaging, Lasik, skin and …

Full company description

Praram 9 Hospital Public Company Limited engages in hospital operations primarily in Thailand. The company operates medicine, surgery, diabetes and metabolic, spine, orthopedic, physical therapy and rehabilitation, chest and respiratory, neurology, thyroid and thyroid surgery, obstetrics gynecology, IVF, breast, oncocare, emergency, imaging, Lasik, skin and plastic surgery, mind, gastrointestinal and liver disease, dental, check-up, eye, pediatric, sleep, ear, nose, and throat centers, as well as vaccination and travel medicine, and traditional Chinese medicine clinics. It also engages in the operation of kidney disease and transplantation, cardiovascular, and pain management and wellness institutes. Praram 9 Hospital Public Company Limited was founded in 1992 and is based in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Praram 9 Hospital Public Company reported revenue of 5.3B THB in FY2025 versus 3.0B THB in FY2021, a compound +15.3%/yr. Reported net income was 823M THB in FY2025, compounding +34.8%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
5.3B THB
Latest YoY
+13.8%
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.
+8.7%
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.
+15.2%
Avg. growth/yr (11Y) 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.
+10.4%
Revenue +15.3%/yr
FY21 3.0B THB
FY22 4.1B THB
FY23 4.2B THB
FY24 4.6B THB
FY25 5.3B THB
Net income +34.8%/yr
FY21 249M THB
FY22 568M THB
FY23 558M THB
FY24 713M THB
FY25 823M THB
Character of growth · EPS growth decomposed (2014-2025) +13.5 % p.a.
Revenue per share +8.9 pp

of which total revenue +10.0 pp · buybacks/dilution −1.1 pp

EBIT margin +3.0 pp
Tax rate +0.2 pp
Residual (interest, one-offs) +1.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Praram 9 Hospital Public Company Fair Value". https://www.fairvalue-calculator.com/stock/PR9

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 66 · Top 25%
Fair Value upside +10% · Above median
Return on equity (TTM) 14% · Above median
Return on assets 9% · Top 25%
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 17% · Top 25%
Revenue growth 4% · Below median
Dividend yield (TTM) 2.8% · Above median

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 17.5× · Cheaper than median
P/B 2.41× · Pricier than median
P/S (TTM) 2.63× · Pricier than 75% of peers
P/FCF 0.8× · Cheaper than median
EV/EBITDA 10.8× · Pricier than median
PEG 1.14× · 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 47 · sector 23
FUTURE 21 · sector 24
PAST 55 · sector 30
HEALTH 0 · sector 90
DIVIDEND 56 · sector 38

Insider activity: 45/100

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 Praram 9 Hospital Public Company (PR9) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 20.22 THB versus a price of 18.40 THB, about +10% (fairly valued).
What is the fair value of PR9?
Our model-based fair value for Praram 9 Hospital Public Company is 20.22 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 18.40 THB.
What is the quality score of PR9?
Praram 9 Hospital Public Company has a Quality Score of 66/100. 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 Praram 9 Hospital Public Company (PR9)?
Praram 9 Hospital Public Company reported trailing-twelve-month revenue of about 5.4B THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of PR9?
The net profit margin of Praram 9 Hospital Public Company is about 15.0%, meaning it keeps roughly 15.0% of revenue as net income. Based on the latest reported figures.
Does Praram 9 Hospital Public Company pay a dividend?
Praram 9 Hospital Public Company currently shows a dividend yield of about 3.01% 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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