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Winnergy Medical Public Company Limited (WINMED) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Winnergy Medical Public Company Limited THB 0.56, price THB 1.27, upside -55.9%, quality 39 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Healthcare · TH

WM Thin data Sep 24, 2026

Winnergy Medical Public Company Limited

WINMED · BK

Weakest SetupStrongly overvalued and low quality.

!Fair value 0.5600 THB · Strongly overvalued (−56%)
!Quality 39/100
!Weak Growth (revenue 5y +4.1 %/yr)
!Thin margins · 1.9% net margin (TTM)
!Low debt · negative free cash flow
·1.02% dividend yield
!Trails peers (2/13)
!Narrow moat 22/100
!Evidence only low, so the estimate is less certain
!Weak on past: 8 out of 100
!Weak on dividend: 20 out of 100
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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

7.46 THB 0.7400 THB Fair Value 0.5600 THB May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range 0.7400 THB – 7.46 THB · fair‑value band 0.2600 THB – 0.7100 THB · the 1.27 THB price screens above the 0.5600 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Winnergy Medical Public Company Limited engages in the distribution of medical and diagnostic equipment in Thailand. The company imports and distributes technology and diagnostic kits for cervical cancer screening, including cytology examinations using automatic slide preparation machines and testing for human papilloma virus, and colposcopes.

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Winnergy Medical Public Company Limited engages in the distribution of medical and diagnostic equipment in Thailand. The company imports and distributes technology and diagnostic kits for cervical cancer screening, including cytology examinations using automatic slide preparation machines and testing for human papilloma virus, and colposcopes. It also offers equipment for testing blood quality and blood collection bags for blood donation; blood quality testing products; blood freezers; blood banking, including pathogen inactivation; blood bag tube sealer; blood donor chairs; instrument for counting the number of leukocytes residual in blood; and device used to cut and connect both dry and wet blood bags. In addition, the company sells mosquito trappers for outdoor and indoor use; and offers HPV and STI self-collect test kits under AVA name. The company was formerly known as Winnergy Medical Co., Ltd. and changed its name to Winnergy Medical Public Company Limited in September 2020. Winnergy Medical Public Company Limited was incorporated in 2004 and is headquartered in Bangkok, Thailand.

Stock analysis

Winnergy Medical Public Company Limited (WINMED) currently trades at 1.27 THB, while our model-based Fair Value estimate is 0.5600 THB, implying the stock looks roughly 126.8% overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of 1.28 THB per share, and 2 of the 14 models we run sit above the 1.27 THB price.

Bear case: the Earnings-Based group reads lowest at 0.1200 THB, and 12 of the 14 models stay below the price. Evidence for this calculation is low.

Scenario range: 0.2600 THB (bear) to 0.7100 THB (bull), the price of 1.27 THB sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 39/100 (below-average quality), in the Healthcare sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Winnergy Medical Public Company Limited reported revenue of 647M THB in FY2025 versus 539M THB in FY2021, a compound +4.7%/yr. Reported net income was 15.2M THB in FY2025, compounding −30.5%/yr from FY2021.

Key figures

Market cap 508M THB (≈ $15.2M) · P/E ratio 42.3 · P/S ratio 0.99 · EPS (TTM) 0.0300 THB · Dividend yield 1.0% · Net margin 2.3% · Return on equity 1.9% · Return on assets (EBIT) 4.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 9% below its 52-week high and 72% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 35% fair-value upside, at −56%, WINMED screens richer than that median.

Fair Value models

Bear 0.2600 THB Fair Value 0.5600 THB Bull 0.7100 THB
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.0125 THB per share) are deliberately not added. 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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Owner Earnings 0.8700 THB 1.28 THB 1.85 THB 76
Residual Income 1.12 THB 1.08 THB 0.8700 THB 76
Gordon GGM 0.2200 THB 0.3300 THB 0.4500 THB 68
All 14 models by family
DCF Models
Owner Earnings 0.8700 THB 1.28 THB 1.85 THB 76
Earnings-Based
Graham-Dodd 0.2600 THB 0.5600 THB 0.7100 THB 66
PEG = 1.0 0.0900 THB 0.1200 THB 0.1600 THB 57
Dividend Discount
Gordon GGM 0.2200 THB 0.3300 THB 0.4500 THB 68
DDM Multi-Stage 0.2200 THB 0.3100 THB 0.4100 THB 67
Multiples
P/E Multiple 0.6300 THB 0.8300 THB 1.04 THB 63
P/S Multiple 0.4800 THB 0.6400 THB 0.8100 THB 58
P/B Multiple 0.4800 THB 0.6400 THB 0.8100 THB 55
EV/EBIT 0.0600 THB 0.1500 THB 0.2400 THB 61
EV/EBITDA 1.39 THB 1.93 THB 2.46 THB 67
EV/Revenue n/a 0.0600 THB 0.1500 THB 50
Asset-Based
NCAV (Graham) 0.7900 THB 1.06 THB 1.59 THB 54
Economic Profit
Residual Income 1.12 THB 1.08 THB 0.8700 THB 76
Growth Earnings
Growth-Adj P/E 0.4600 THB 0.6600 THB 0.8600 THB 67

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Quality Score breakdown

Overall quality 39/100

Of which business quality 37 · Market factors (momentum, volatility) 67

Profitability 30
Margins and returns on capital today
Quality Growth 31
Are margins and returns improving?
Cashflow 2
Earnings quality: real cash, not paper profit
Fin. Strength 37
Balance sheet, leverage, solvency risk
Investment 73
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 73
Price trend over the last 3–12 months (market factor)
52W Momentum 55
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 29/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−1.1%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−2.7%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+4.1%
Start year 2020 (pandemic)
Revenue growth 8 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+6.8%
What shareholders gained per year (last 5 years), in THB ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in THB: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−20.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−21.7%
Dividend (yield on the price)1.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.13% → 1%

WINMED screens 127% overvalued. Compare with McKesson Corporation →

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Peer Groupⓘ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.Medical Distribution · 83 stocks

Beats the industry median on 2/13 measures
Overall it trails its industry peers.
Valuation
Quality Score 39 · Bottom 25%
Fair Value upside −56% · Bottom 25%
Profitability
Return on equity (TTM) 2% · Below median
Return on assets 0% · Bottom 25%
Net margin (TTM) 2% · Above median
Operating margin (TTM) 0% · Bottom 25%
Growth and dividend
Revenue growth −4% · Below median
Dividend yield (TTM) 1.0% · Bottom 25%
Balance sheet
Debt / equity 0.16× · Above median

Valuation Multiplesvs Medical Distribution median · lower = cheaper

P/E (TTM) 42.3× · Priciest 25%
P/B 0.80× · Cheaper than median
P/S (TTM) 0.79× · Priciest 25%
EV/EBITDA 14.9× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 44
FUTURE (revenue growth)0 · sector 15
PAST (return on equity)8 · sector 27
HEALTH (low debt)92 · sector 96
DIVIDEND (yield)20 · sector 59

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

Similar stocks

10 more Medical Distribution stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
McKesson Corporation MCK $880.50 $819.31 −7%
Cencora, Inc COR $312.28 $211.07 −32%
Cardinal Health, Inc CAH $221.27 $141.77 −36%
Henry Schein, Inc HSIC $87.43 $76.86 −12%
Shanghai Pharmaceuticals Holding 601607 ¥16.06 ¥42.67 +166%
Sinopharm Group 1099 HK$15.06 HK$58.89 +291%
Galenica AG GALE CHF 83.45 CHF 61.79 −26%
Guangzhou Baiyunshan Pharmaceutical Holdings 600332 ¥19.67 ¥26.64 +35%
Jointown Pharmaceutical Group 600998 ¥4.89 ¥9.84 +101%
China National Medicines Corporation 600511 ¥26.11 ¥58.47 +124%

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Cite: Fair Value Calculator (2026). "Winnergy Medical Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/WINMED

Frequently asked questions

Is Winnergy Medical Public Company Limited (WINMED) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.5600 THB versus a price of 1.27 THB, about −56% upside (overvalued).
What is the fair value of WINMED?
Our model-based fair value for Winnergy Medical Public Company Limited is 0.5600 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 1.27 THB.
What is the quality score of WINMED?
Winnergy Medical Public Company Limited has a Quality Score of 39/100. 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 price target for Winnergy Medical Public Company Limited (WINMED)?
Our model-based price target is the fair value of 0.5600 THB (as of Sep 24, 2026) from 14 valuation models. Cautious scenario 0.2600 THB, optimistic scenario 0.7100 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Winnergy Medical Public Company Limited stock forecast for 2026?
Our models put fair value at 0.5600 THB, about −56% upside versus a price of 1.27 THB (overvalued). Cautious scenario 0.2600 THB, optimistic scenario 0.7100 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Winnergy Medical Public Company Limited (WINMED)?
Winnergy Medical Public Company Limited reported trailing-twelve-month revenue of about 641M THB (latest available figure, as of Sep 24, 2026).
Does Winnergy Medical Public Company Limited pay a dividend?
Winnergy Medical Public Company Limited currently shows a dividend yield of about 1.02% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Winnergy Medical Public Company Limited (WINMED)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Winnergy Medical Public Company Limited it is 0.5600 THB per share (as of Sep 24, 2026), against a price of 1.27 THB. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Winnergy Medical Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, WINMED trades above its calculated fair value: price 1.27 THB, fair value 0.5600 THB, a gap of about −56% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of WINMED?
No. The price is what the market pays today (1.27 THB); the fair value is what the company's own numbers justify (0.5600 THB). For Winnergy Medical Public Company Limited the two are 0.7100 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Winnergy Medical Public Company Limited worth?
The market values Winnergy Medical Public Company Limited at about 508M THB (market capitalisation, as of Sep 24, 2026). Per share that is 1.27 THB; our models calculate a fair value of 0.5600 THB per share.
What do the bullish and bearish scenarios say about WINMED?
Our models span a range for Winnergy Medical Public Company Limited: cautious scenario 0.2600 THB, base 0.5600 THB, optimistic 0.7100 THB per share (as of Sep 24, 2026, price 1.27 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of WINMED?
Winnergy Medical Public Company Limited trades at a price-to-earnings ratio of 42.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.5600 THB is built from several models across several years. Other multiples: P/B 0.8, P/S 0.8, EV/EBITDA 14.9.
How solid is the balance sheet of Winnergy Medical Public Company Limited (WINMED)?
Balance-sheet figures for Winnergy Medical Public Company Limited (as of Sep 24, 2026): return on equity 1.9%, debt of 0.16 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is WINMED from its 52-week high?
Winnergy Medical Public Company Limited trades at 1.27 THB, about 9% below its 52-week high of 1.39 THB and 72% above the low of 0.7400 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 0.5600 THB is for.
Which stocks are comparable to Winnergy Medical Public Company Limited?
From the same area (Healthcare) we also value McKesson Corporation, Cencora, Inc, Cardinal Health, Inc, Henry Schein, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Winnergy Medical Public Company Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 1.27 THB, calculated fair value 0.5600 THB (−56%), Quality Score 39/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of WINMED calculated?
We run Winnergy Medical Public Company Limited through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 0.5600 THB, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. Winnergy Medical Public Company Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Winnergy Medical Public Company Limited (WINMED)?
The closing price on Sep 24, 2026 was 1.27 THB. Our model-based fair value is 0.5600 THB, about −56% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Winnergy Medical Public Company Limited right now?
The price sits above even our optimistic bull case (0.7100 THB). The favourable scenario is already priced in. Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (0.2600 THB to 0.7100 THB). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Winnergy Medical Public Company Limited

How large is the market capitalisation of Winnergy Medical Public Company Limited (WINMED)?
The market capitalisation of Winnergy Medical Public Company Limited is 508M THB (≈ $15.2M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Winnergy Medical Public Company Limited (WINMED)?
The price-to-sales ratio of Winnergy Medical Public Company Limited is 0.99 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Winnergy Medical Public Company Limited (WINMED)?
Earnings per share at Winnergy Medical Public Company Limited are 0.0300 THB (price ÷ EPS = P/E 42.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Winnergy Medical Public Company Limited (WINMED)?
The dividend yield of Winnergy Medical Public Company Limited is 1.0% (payout 43.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Winnergy Medical Public Company Limited (WINMED)?
The net margin of Winnergy Medical Public Company Limited is 2.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Winnergy Medical Public Company Limited (WINMED)?
The return on equity (ROE) of Winnergy Medical Public Company Limited is 1.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Winnergy Medical Public Company Limited (WINMED)?
On an EBIT basis the return on assets of Winnergy Medical Public Company Limited is 4.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Winnergy Medical Public Company Limited (WINMED)?
The operating margin of Winnergy Medical Public Company Limited is −0.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Winnergy Medical Public Company Limited (WINMED)?
Revenue at Winnergy Medical Public Company Limited is growing −3.6% versus a year earlier (3y avg −2.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Winnergy Medical Public Company Limited (WINMED)?
Earnings per share at Winnergy Medical Public Company Limited are growing −47.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Winnergy Medical Public Company Limited (WINMED) generate?
The free cash flow of Winnergy Medical Public Company Limited is −58.1M THB (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Winnergy Medical Public Company Limited (WINMED) carry?
The net debt of Winnergy Medical Public Company Limited is 343M THB (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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