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Sikarin Public Company (SKR) Fair Value & Analysis

Healthcare · TH · Market cap 16.2B THB

SP Sikarin Public Company SKR · BK
Price8.00 THB
Fair Value7.95 THB
Upside-0.6%
Quality71/100
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Mixed Growth
Solidly profitable · 11.3% net margin
Low debt · generates free cash flow
3.16% dividend yield
Ranks above peers (10/15)
Moderate moat 49/100
Evidence: High Range 5.99 THB – 9.92 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 8.15 THB to 7.95 THB (−2.5%) since Jun 24, 2026. Share price −1.2% 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.
  • Our model range runs from 5.99 THB (bear) to 9.92 THB (bull), base 7.95 THB. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 71/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

14.04 THB 6.12 THB Fair Value 7.95 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 6.12 THB – 14.04 THB · fair‑value band 5.99 THB – 9.92 THB · the 8.00 THB price screens above the 7.95 THB fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Sikarin Public Company (SKR) currently trades at 8.00 THB, while our model-based Fair Value estimate is 7.95 THB, implying the stock looks roughly 0.6% fairly valued today. The Quality Score stands at 71/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Sikarin Public Company generated revenue of 5.9B THB at a net margin of 11.3%. Revenue declined 8.3% year over year. It earns a return on equity of 8.4%. The balance sheet holds a net cash position of 176M THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 5.99 THB (bear case) to 9.92 THB (bull case); at 8.00 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 1% below its 52-week high and 33% 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 -1%, SKR 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
Growth DCF 7.03 THB 11.50 THB 18.74 THB 80
Residual Income 3.37 THB 3.72 THB 5.28 THB 76
Rev-Margin DCF 5.23 THB 8.23 THB 11.93 THB 74
All 26 models by family
DCF Models
FCF DCF 7.01 THB 11.66 THB 19.29 THB 38
Owner Earnings 6.25 THB 10.38 THB 17.15 THB 31
5Y Revenue Exit 5.23 THB 8.23 THB 12.13 THB 39
5Y EBITDA Exit 7.33 THB 12.37 THB 18.49 THB 41
5Y P/E Exit 6.20 THB 10.16 THB 14.48 THB 38
10Y Revenue Exit 5.65 THB 8.63 THB 12.84 THB 36
10Y EBITDA Exit 7.15 THB 11.59 THB 17.94 THB 37
10Y P/E Exit 6.42 THB 10.01 THB 14.72 THB 35
Earnings-Based
Graham-Dodd 2.52 THB 9.93 THB 13.48 THB 54
Lynch FV 2.45 THB 3.50 THB 4.55 THB 50
PEG = 1.0 2.45 THB 3.50 THB 4.55 THB 46
EPV 3.73 THB 4.31 THB 4.82 THB 59
Dividend Discount
Gordon GGM 1.86 THB 3.87 THB 6.14 THB 70
DDM Multi-Stage 1.86 THB 3.27 THB 4.06 THB 61
Multiples
P/E Multiple 6.13 THB 8.17 THB 10.21 THB 63
P/S Multiple 4.73 THB 6.31 THB 7.89 THB 58
P/B Multiple 4.73 THB 6.31 THB 7.89 THB 55
EV/EBIT 6.15 THB 8.11 THB 10.08 THB 53
EV/EBITDA 8.23 THB 10.89 THB 13.56 THB 54
EV/Revenue 4.46 THB 6.26 THB 8.07 THB 43
Asset-Based
NCAV (Graham) 1.93 THB 2.59 THB 3.86 THB 50
Growth DCF
Growth DCF 7.03 THB 11.50 THB 18.74 THB 80
Rev-Margin DCF 5.23 THB 8.23 THB 11.93 THB 74
Economic Profit
Residual Income 3.37 THB 3.72 THB 5.28 THB 76
ROIC Compounder 3.73 THB 4.73 THB 6.21 THB 72
Growth Earnings
Growth-Adj P/E 4.48 THB 6.40 THB 8.32 THB 68

Widest divergence: DCF Models (10.16 THB) versus Asset-Based (2.59 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 5.9B THB
Revenue growth (YoY) -8.3%
Net margin 11.3%
Return on equity 8.4%
Free cash flow 1.1B THB FY2025
P/E ratio 24.2
More key figures
Operating margin 11.6%
EPS (TTM) 0.3300 THB
Dividend yield 3.2%
EPS growth (YoY) -38.6%
Net cash 176M THB FY2025

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

Quality Score breakdown

Overall quality 71/100

Of which business quality 71 · Market factors (momentum, volatility) 67

Profitability 45
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 82
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 54
Price trend over the last 3–12 months (market factor)
52W Momentum 70
Distance to the 52-week high (market factor)
Net Issuance 85
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

Sikarin Public Company Limited, together with its subsidiaries, operates hospitals in Thailand. The company operates diabetes and endocrine center, general medicine clinic, emergency and trauma center, surgery clinic, children's dental center, aesthetic center, laboratory department, diagnostic radiology center, CT scan unit, operating rooms, hemodialysis …

Full company description

Sikarin Public Company Limited, together with its subsidiaries, operates hospitals in Thailand. The company operates diabetes and endocrine center, general medicine clinic, emergency and trauma center, surgery clinic, children's dental center, aesthetic center, laboratory department, diagnostic radiology center, CT scan unit, operating rooms, hemodialysis units, physical therapy department with physical medicine and rehabilitation specialist, catheter laboratory, intensive care units, coronary care units, inpatient wards and international wards, after heart and thoracic surgery ward, medical-surgical ward, and pediatric ward. It also operates woman's health center, health center, fertility center, delivery room, nursery department and the inpatient wards, obstetrics and gynecology ward, stroke center, EENT center, international medical center, orthopedics center, and MRI center. In addition, the company is involved in the management of rental spaces; and sale of food and beverages, as well as restaurant and medical clinic business. The company was founded in 1979 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sikarin Public Company reported revenue of 6.0B THB in FY2025 versus 6.4B THB in FY2021, a compound −1.2%/yr. Reported net income was 752M THB in FY2025, compounding −14.3%/yr from FY2021.

Growth Quality 78/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
6.0B THB
Latest YoY
−0.2%
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.
+2.1%
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.
+9.3%
Avg. growth/yr (25Y) 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.
+10.1%
Revenue −1.2%/yr
FY21 6.4B THB
FY22 5.7B THB
FY23 5.8B THB
FY24 6.1B THB
FY25 6.0B THB
Net income −14.3%/yr
FY21 1.4B THB
FY22 1.0B THB
FY23 891M THB
FY24 664M THB
FY25 752M THB
Character of growth · EPS growth decomposed (2014-2025) +15.7 % p.a.
Revenue per share +8.8 pp

of which total revenue +12.3 pp · buybacks/dilution −3.6 pp

EBIT margin +6.9 pp
Tax rate −0.2 pp
Residual (interest, one-offs) +0.3 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). "Sikarin Public Company Fair Value". https://www.fairvalue-calculator.com/stock/SKR

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 71 · Top 25%
Fair Value upside −1% · Above median
Return on equity (TTM) 8% · Above median
Return on assets 6% · Above median
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 12% · Above median
Revenue growth -8% · Bottom 25%
Dividend yield (TTM) 3.2% · Above median
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 24.2× · Pricier than median
P/B 2.07× · Pricier than median
P/S (TTM) 2.73× · Pricier than 75% of peers
P/FCF 0.4× · Cheaper than 75% of peers
EV/EBITDA 12.0× · Pricier than median
PEG 0.88× · 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 33 · sector 23
FUTURE 0 · sector 24
PAST 34 · sector 30
HEALTH 98 · sector 90
DIVIDEND 63 · 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 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 Sikarin Public Company (SKR) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 7.95 THB versus a price of 8.00 THB, about −1% (fairly valued).
What is the fair value of SKR?
Our model-based fair value for Sikarin Public Company is 7.95 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 8.00 THB.
What is the quality score of SKR?
Sikarin Public Company has a Quality Score of 71/100. 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 Sikarin Public Company (SKR)?
Sikarin Public Company reported trailing-twelve-month revenue of about 5.9B THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of SKR?
The net profit margin of Sikarin Public Company is about 11.3%, meaning it keeps roughly 11.3% of revenue as net income. Based on the latest reported figures.
Does Sikarin Public Company pay a dividend?
Sikarin Public Company currently shows a dividend yield of about 3.40% 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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