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Srivichaivejvivat Public Company (VIH) Fair Value & Analysis

Healthcare · TH · Market cap 5.3B THB

SP Srivichaivejvivat Public Company VIH · BK
Price8.90 THB
Fair Value14.49 THB
Upside+62.8%
Quality64/100
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Healthy Growth
Solidly profitable · 13.9% net margin
Low debt · generates free cash flow
4.76% dividend yield
Ranks above peers (12/14)
Moderate moat 57/100
Evidence: High Range 8.98 THB – 18.20 THB Share as image

Fair value as of: Jul 17, 2026

From 26 valuation models · updated 25 days ago

Fair value updated Jul 17, 2026, revised from 14.69 THB to 14.49 THB (−1.4%) since Jun 24, 2026. Share price +4.1% over the past month.

A solid business, screening 63% undervalued on our models.

What matters now

  • Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (8.98 THB to 18.20 THB) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

11.71 THB 6.25 THB Fair Value 14.49 THB Feb 2021 Aug 2026

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

60‑month range 6.25 THB – 11.71 THB · fair‑value band 8.98 THB – 18.20 THB · the 8.90 THB price screens below the 14.49 THB fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Srivichaivejvivat Public Company (VIH) currently trades at 8.90 THB, while our model-based Fair Value estimate is 14.49 THB, implying the stock looks roughly 62.8% undervalued today. The Quality Score stands at 64/100 (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, Srivichaivejvivat Public Company generated revenue of 3.1B THB at a net margin of 14.1%. Revenue grew 10.3% year over year. It earns a return on equity of 11.8%. The balance sheet holds a net cash position of 740M THB. Fundamentals as of Jul 17, 2026

Our scenario range runs from 8.98 THB (bear case) to 18.20 THB (bull case); at 8.90 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 5% below its 52-week high and 37% 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 63%, VIH 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 7.26 THB 10.81 THB 16.20 THB 80
Residual Income 5.53 THB 6.28 THB 10.84 THB 76
Rev-Margin DCF 7.93 THB 12.51 THB 18.04 THB 74
All 26 models by family
DCF Models
FCF DCF 7.23 THB 10.95 THB 16.70 THB 38
Owner Earnings 9.11 THB 13.99 THB 21.56 THB 31
5Y Revenue Exit 7.93 THB 12.58 THB 18.70 THB 39
5Y EBITDA Exit 10.11 THB 16.84 THB 24.97 THB 41
5Y P/E Exit 10.08 THB 16.78 THB 24.10 THB 38
10Y Revenue Exit 7.39 THB 11.58 THB 17.57 THB 36
10Y EBITDA Exit 9.00 THB 14.53 THB 22.43 THB 37
10Y P/E Exit 8.98 THB 14.49 THB 21.76 THB 35
Earnings-Based
Graham-Dodd 4.73 THB 17.77 THB 24.04 THB 54
Lynch FV 4.29 THB 6.13 THB 7.97 THB 50
PEG = 1.0 4.29 THB 6.13 THB 7.97 THB 46
EPV 7.01 THB 7.92 THB 8.70 THB 59
Dividend Discount
Gordon GGM 2.13 THB 4.24 THB 6.42 THB 70
DDM Multi-Stage 2.13 THB 3.67 THB 4.48 THB 61
Multiples
P/E Multiple 11.48 THB 15.31 THB 19.14 THB 63
P/S Multiple 8.87 THB 11.83 THB 14.79 THB 58
P/B Multiple 8.87 THB 11.83 THB 14.79 THB 55
EV/EBIT 11.48 THB 14.88 THB 18.29 THB 53
EV/EBITDA 12.80 THB 16.65 THB 20.49 THB 54
EV/Revenue 8.56 THB 11.68 THB 14.80 THB 43
Asset-Based
NCAV (Graham) 3.09 THB 4.14 THB 6.18 THB 50
Growth DCF
Growth DCF 7.26 THB 10.81 THB 16.20 THB 80
Rev-Margin DCF 7.93 THB 12.51 THB 18.04 THB 74
Economic Profit
Residual Income 5.53 THB 6.28 THB 10.84 THB 76
ROIC Compounder 7.29 THB 9.05 THB 11.37 THB 72
Growth Earnings
Growth-Adj P/E 8.13 THB 11.62 THB 15.10 THB 68

Widest divergence: DCF Models (13.99 THB) versus Dividend Discount (3.67 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.1B THB
Revenue growth (YoY) +10.3%
Net margin 14.1%
Return on equity 11.8%
Free cash flow 329M THB FY2025
P/E ratio 11.1
More key figures
Operating margin 17.4%
EPS (TTM) 0.7200 THB
EPS growth (YoY) +58.6%
Net cash 740M THB FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 64 · Market factors (momentum, volatility) 69

Profitability 50
Margins and returns on capital today
Quality Growth 62
Are margins and returns improving?
Cashflow 52
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 69
Distance to the 52-week high (market factor)
Net Issuance 58
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

Srivichaivejvivat Public Company Limited, together with its subsidiaries, engages in the hospital business in Thailand. The company offers medical services, such as accidental and emergency center, pediatric clinic, obstetrics and gynecology center, orthopedic center and joint center, stroke system center, health checkup center, gastroenterology and …

Full company description

Srivichaivejvivat Public Company Limited, together with its subsidiaries, engages in the hospital business in Thailand. The company offers medical services, such as accidental and emergency center, pediatric clinic, obstetrics and gynecology center, orthopedic center and joint center, stroke system center, health checkup center, gastroenterology and hepatology clinic, internal medical clinic, cardiovascular center, vascular surgery, endoscopic surgery center, neurological and brain clinic, dental clinic, x-ray center, breast clinic, dialysis center, occupational medical clinic, women's disease laparoscopic surgery, social security clinic, physical therapy, skin and laser surgery clinic, plastic surgery clinic, kidney stones and prostate disease center, cancer clinic, radiotherapy center, child development center, sports medicine center, wellness and anti- aging health center, traditional Chinese medicine center, infertility treatment center, mother and child health center, health and occupational health examination center, mobile medical unit, fah sai and urology clinic, and ear, nose and throat clinic. It also operates a vocational school. Srivichaivejvivat Public Company Limited was founded in 1987 and is based in Krathum Baen, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Srivichaivejvivat Public Company reported revenue of 3.1B THB in FY2025 versus 4.7B THB in FY2021, a compound −10.2%/yr. Reported net income was 436M THB in FY2025, compounding −23.2%/yr from FY2021.

Growth Quality 76/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
3.1B THB
Latest YoY
+9.0%
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.
−5.7%
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.
+6.1%
Avg. growth/yr (17Y) 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.
+8.4%
Revenue −10.2%/yr
FY21 4.7B THB
FY22 3.6B THB
FY23 2.7B THB
FY24 2.8B THB
FY25 3.1B THB
Net income −23.2%/yr
FY21 1.3B THB
FY22 697M THB
FY23 284M THB
FY24 314M THB
FY25 436M THB
Character of growth · EPS growth decomposed (2014-2025) +12.4 % p.a.
Revenue per share +7.6 pp

of which total revenue +8.0 pp · buybacks/dilution −0.4 pp

EBIT margin +5.6 pp
Tax rate +0.0 pp
Residual (interest, one-offs) −0.8 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). "Srivichaivejvivat Public Company Fair Value". https://www.fairvalue-calculator.com/stock/VIH

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 64 · Top 25%
Fair Value upside +63% · Top 25%
Return on equity (TTM) 12% · Above median
Return on assets 8% · Top 25%
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) 17% · Top 25%
Revenue growth 5% · Below median
Dividend yield (TTM) 4.8% · Top 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 11.8× · Cheaper than 75% of peers
P/B 1.38× · Cheaper than median
P/S (TTM) 1.70× · Pricier than median
P/FCF 0.5× · Cheaper than 75% of peers
EV/EBITDA 6.4× · 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 23 · sector 24
PAST 46 · sector 30
HEALTH 100 · sector 90
DIVIDEND 95 · 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 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

Is Srivichaivejvivat Public Company (VIH) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 14.49 THB versus a price of 8.90 THB, about +63% (undervalued).
What is the fair value of VIH?
Our model-based fair value for Srivichaivejvivat Public Company is 14.49 THB (as of Jul 17, 2026), built from audited fundamentals. The current price is 8.90 THB.
What is the quality score of VIH?
Srivichaivejvivat Public Company has a Quality Score of 64/100. 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 Srivichaivejvivat Public Company (VIH)?
Srivichaivejvivat Public Company reported trailing-twelve-month revenue of about 3.1B THB (latest available figure, as of Jul 17, 2026).
What is the net profit margin of VIH?
The net profit margin of Srivichaivejvivat Public Company is about 14.1%, meaning it keeps roughly 14.1% of revenue as net income. Based on the latest reported figures.

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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