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Ratchaphruek Hospital Public Company (RPH) Fair Value & Analysis

Healthcare · TH · Market cap 2.7B THB

RH Ratchaphruek Hospital Public Company RPH · BK
Price4.96 THB
Fair Value7.08 THB
Upside+42.7%
Quality72/100
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Healthy Growth
Solidly profitable · 14.7% net margin
Low debt · generates free cash flow
5.62% dividend yield
Ranks above peers (10/14)
Moderate moat 55/100
Evidence: High Range 4.58 THB – 8.77 THB Share as image

Fair value as of: Jul 19, 2026

From 26 valuation models · updated 22 days ago

Share price −0.8% over the past month.

A solid business, screening 43% undervalued on our models.

What matters now

  • The rarer combination: high quality (72/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • A fairly wide model range (4.58 THB to 8.77 THB) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

6.26 THB 3.83 THB Fair Value 7.08 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range 3.83 THB – 6.26 THB · fair‑value band 4.58 THB – 8.77 THB · the 4.96 THB price screens below the 7.08 THB fair value. Dashed = 300-day average. As of Jul 19, 2026.

Full chart & analysis →

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Analysis

Ratchaphruek Hospital Public Company (RPH) currently trades at 4.96 THB, while our model-based Fair Value estimate is 7.08 THB, implying the stock looks roughly 42.7% undervalued today. The Quality Score stands at 72/100 (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, Ratchaphruek Hospital Public Company generated revenue of 1.1B THB at a net margin of 14.7%. Revenue declined 5.4% year over year. It earns a return on equity of 9.6%. The balance sheet holds a net cash position of 277M THB. Fundamentals as of Jul 19, 2026

Our scenario range runs from 4.58 THB (bear case) to 8.77 THB (bull case); at 4.96 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 2% below its 52-week high and 15% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at 11% fair-value upside, at 43%, RPH 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 4.03 THB 5.70 THB 8.03 THB 80
Residual Income 2.87 THB 3.19 THB 4.43 THB 76
Rev-Margin DCF 3.92 THB 6.01 THB 8.45 THB 74
All 26 models by family
DCF Models
FCF DCF 3.99 THB 5.91 THB 8.78 THB 38
Owner Earnings 4.18 THB 6.20 THB 9.22 THB 31
5Y Revenue Exit 3.92 THB 6.01 THB 8.70 THB 39
5Y EBITDA Exit 4.99 THB 8.03 THB 11.62 THB 41
5Y P/E Exit 5.00 THB 8.06 THB 11.31 THB 38
10Y Revenue Exit 3.81 THB 5.71 THB 8.29 THB 36
10Y EBITDA Exit 4.58 THB 7.08 THB 10.49 THB 37
10Y P/E Exit 4.59 THB 7.11 THB 10.26 THB 35
Earnings-Based
Graham-Dodd 2.34 THB 7.72 THB 10.32 THB 54
Lynch FV 1.74 THB 2.49 THB 3.23 THB 50
PEG = 1.0 1.74 THB 2.49 THB 3.23 THB 46
EPV 3.20 THB 3.63 THB 3.99 THB 59
Dividend Discount
Gordon GGM 2.46 THB 4.90 THB 7.43 THB 70
DDM Multi-Stage 2.46 THB 4.11 THB 5.18 THB 61
Multiples
P/E Multiple 5.67 THB 7.56 THB 9.46 THB 63
P/S Multiple 4.38 THB 5.85 THB 7.31 THB 58
P/B Multiple 4.38 THB 5.85 THB 7.31 THB 55
EV/EBIT 5.45 THB 7.10 THB 8.75 THB 53
EV/EBITDA 6.15 THB 8.03 THB 9.91 THB 54
EV/Revenue 4.04 THB 5.55 THB 7.06 THB 43
Asset-Based
NCAV (Graham) 1.62 THB 2.17 THB 3.23 THB 50
Growth DCF
Growth DCF 4.03 THB 5.70 THB 8.03 THB 80
Rev-Margin DCF 3.92 THB 6.01 THB 8.45 THB 74
Economic Profit
Residual Income 2.87 THB 3.19 THB 4.43 THB 76
ROIC Compounder 3.20 THB 3.86 THB 4.71 THB 72
Growth Earnings
Growth-Adj P/E 4.76 THB 6.81 THB 8.85 THB 68

Widest divergence: Growth Earnings (6.81 THB) versus Asset-Based (2.17 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.1B THB
Revenue growth (YoY) -5.4%
Net margin 14.7%
Return on equity 9.6%
Free cash flow 169M THB FY2025
P/E ratio 15.2
More key figures
Operating margin 14.2%
EPS (TTM) 0.3200 THB
Dividend yield 5.8%
EPS growth (YoY) -30.6%
Net cash 277M THB FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 72/100

Of which business quality 70 · Market factors (momentum, volatility) 66

Profitability 50
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 63
Distance to the 52-week high (market factor)
Net Issuance 96
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

Ratchaphruek Hospital Public Company Limited engages in the hospital business under the Ratchaphruek Hospital name in Thailand.

Full company description

Ratchaphruek Hospital Public Company Limited engages in the hospital business under the Ratchaphruek Hospital name in Thailand. The company offers medical services in the field of internal medicine, such as diabetes and endocrine, dermatology, neurology, hematology, pulmonary, rheumatology, gastroenterology, nephrology, and cardiology; as well as operates stroke, breast, and hearing and balance medical centers. It also provides surgery services, including general, men health related, urological surgery, and colorectal surgery services; and pediatric, speech therapy, pediatric cardiology, and developmental and behavioral services. In addition, the company offers orthopedics and pediatric orthopedic services; otorhinolaryngology, nasal, sinus, allergy, and sleep medicine services; ophthalmology, retina and vitreous, and pediatrics ophthalmology services; and obstetrics and gynecology, gynecological laparoscopy, and maternal-fetal medicine services. Further, it provides health check-up, dental, prosthodontics, and orthodontics services; anesthesiology, emergency medicine, rehabilitation medicine, and diagnostic radiology services; and sells medicines and medical supplies. The company was formerly known as Sithan Karnpat Company Limited and changed its name to Ratchaphruek Hospital Public Company Limited in September 2016. Ratchaphruek Hospital Public Company Limited was incorporated in 1993 and is based in Khon Kaen, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ratchaphruek Hospital Public Company reported revenue of 1.2B THB in FY2025 versus 1.4B THB in FY2021, a compound −4.8%/yr. Reported net income was 182M THB in FY2025, compounding −18.0%/yr from FY2021.

Growth Quality 81/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.2B THB
Latest YoY
+3.3%
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.
−4.3%
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.
+7.8%
Avg. growth/yr (12Y) 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.
+10.7%
Revenue −4.8%/yr
FY21 1.4B THB
FY22 1.3B THB
FY23 1.2B THB
FY24 1.1B THB
FY25 1.2B THB
Net income −18.0%/yr
FY21 403M THB
FY22 286M THB
FY23 184M THB
FY24 173M THB
FY25 182M THB
Character of growth · EPS growth decomposed (2014-2025) +14.4 % p.a.
Revenue per share +12.9 pp

of which total revenue +12.8 pp · buybacks/dilution +0.1 pp

EBIT margin +0.1 pp
Tax rate +0.0 pp
Residual (interest, one-offs) +1.6 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). "Ratchaphruek Hospital Public Company Fair Value". https://www.fairvalue-calculator.com/stock/RPH

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 72 · Top 25%
Fair Value upside +43% · Top 25%
Return on equity (TTM) 10% · Above median
Return on assets 7% · Above median
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 14% · Above median
Revenue growth -5% · Bottom 25%
Dividend yield (TTM) 5.6% · Top 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 15.6× · Cheaper than median
P/B 1.55× · Pricier than median
P/S (TTM) 2.31× · Pricier than 75% of peers
P/FCF 0.5× · Cheaper than 75% of peers
EV/EBITDA 8.4× · Pricier 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 90 · sector 23
FUTURE 0 · sector 24
PAST 38 · sector 30
HEALTH 100 · sector 90
DIVIDEND 100 · sector 38

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 19, 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 Ratchaphruek Hospital Public Company (RPH) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of 7.08 THB versus a price of 4.96 THB, about +43% (undervalued).
What is the fair value of RPH?
Our model-based fair value for Ratchaphruek Hospital Public Company is 7.08 THB (as of Jul 19, 2026), built from audited fundamentals. The current price is 4.96 THB.
What is the quality score of RPH?
Ratchaphruek Hospital Public Company has a Quality Score of 72/100. 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 Ratchaphruek Hospital Public Company (RPH)?
Ratchaphruek Hospital Public Company reported trailing-twelve-month revenue of about 1.1B THB (latest available figure, as of Jul 19, 2026).
What is the net profit margin of RPH?
The net profit margin of Ratchaphruek Hospital Public Company is about 14.7%, meaning it keeps roughly 14.7% of revenue as net income. Based on the latest reported figures.
Does Ratchaphruek Hospital Public Company pay a dividend?
Ratchaphruek Hospital Public Company currently shows a dividend yield of about 5.76% relative to its recent price (as of Jul 19, 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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