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Wattanapat Hospital Trang Public Company (WPH) Fair Value & Analysis

Healthcare · TH · Market cap 4.1B THB

WH Wattanapat Hospital Trang Public Company WPH · BK
Price6.15 THB
Fair Value9.03 THB
Upside+46.8%
Quality43/100
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Expensive Growth
Solidly profitable · 14.9% net margin
Moderate debt · negative free cash flow
1.41% dividend yield
Ranks above peers (8/13)
Wide moat 69/100
Evidence: High Range 6.38 THB – 12.51 THB Share as image

Fair value as of: Jul 16, 2026

From 16 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 10.42 THB to 9.03 THB (−13.3%) since Jun 24, 2026. Share price +4.2% over the past month.

Below-average quality, screening 47% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (6.38 THB). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (6.38 THB to 12.51 THB) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

12.68 THB 1.47 THB Fair Value 9.03 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 1.47 THB – 12.68 THB · fair‑value band 6.38 THB – 12.51 THB · the 6.15 THB price screens below the 9.03 THB fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Wattanapat Hospital Trang Public Company (WPH) currently trades at 6.15 THB, while our model-based Fair Value estimate is 9.03 THB, implying the stock looks roughly 46.8% undervalued today. The Quality Score stands at 43/100 (below-average 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, Wattanapat Hospital Trang Public Company generated revenue of 2.4B THB at a net margin of 14.9%. Revenue grew 10.4% year over year. It earns a return on equity of 18.0%. Net debt stands at 1.1B THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 6.38 THB (bear case) to 12.51 THB (bull case); at 6.15 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 30% below its 52-week high and 20% 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 47%, WPH 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
Residual Income 3.19 THB 4.52 THB 21.21 THB 76
ROIC Compounder 4.36 THB 6.89 THB 8.74 THB 72
Gordon GGM 0.0200 THB 0.0400 THB 0.0600 THB 70
All 16 models by family
Earnings-Based
Graham-Dodd 3.35 THB 22.92 THB 32.13 THB 54
Lynch FV 6.74 THB 9.62 THB 12.51 THB 50
PEG = 1.0 6.74 THB 9.62 THB 12.51 THB 46
EPV 3.66 THB 4.43 THB 5.09 THB 59
Dividend Discount
Gordon GGM 0.0200 THB 0.0400 THB 0.0600 THB 70
DDM Multi-Stage 0.0200 THB 0.0300 THB 0.0400 THB 61
Multiples
P/E Multiple 8.13 THB 10.84 THB 13.55 THB 63
P/S Multiple 6.28 THB 8.37 THB 10.47 THB 58
P/B Multiple 6.28 THB 8.37 THB 10.47 THB 55
EV/EBIT 6.74 THB 9.39 THB 12.03 THB 53
EV/EBITDA 7.79 THB 10.78 THB 13.77 THB 54
EV/Revenue 4.47 THB 6.90 THB 9.33 THB 43
Asset-Based
NCAV (Graham) 1.35 THB 1.81 THB 2.70 THB 50
Economic Profit
Residual Income 3.19 THB 4.52 THB 21.21 THB 76
ROIC Compounder 4.36 THB 6.89 THB 8.74 THB 72
Growth Earnings
Growth-Adj P/E 9.48 THB 13.54 THB 17.60 THB 68

Widest divergence: Growth Earnings (13.54 THB) versus Dividend Discount (0.0300 THB). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 2.4B THB
Revenue growth (YoY) +10.4%
Net margin 14.9%
Return on equity 18.0%
Free cash flow −363M THB FY2025
P/E ratio 11.2
More key figures
Operating margin 28.5%
EPS (TTM) 0.5100 THB
Dividend yield 1.4%
EPS growth (YoY) +4.3%
Net debt 1.1B THB FY2025

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

Quality Score breakdown

Overall quality 43/100

Of which business quality 45 · Market factors (momentum, volatility) 43

Profitability 56
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 4
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 43
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

Wattanapat Hospital Trang Public Company Limited, together with its subsidiaries, provides medical services in Thailand.

Full company description

Wattanapat Hospital Trang Public Company Limited, together with its subsidiaries, provides medical services in Thailand. It operates orthopedic, neurosurgery, neurology, surgery, cardiology, internal medicine, obstetrics and gynecology, gastrointestinal and liver, pediatric, ophthalmology, ear nose and throat, dental, and skin and beauty, hyperbaric oxygen therapy, kidney clinic and hemodialysis, diabetes thyroid and endocrinology, physical therapy, and orthopedic clinics, as well as wellness, hyperbaric oxygen therapy, X-Ray and MRI, emergency, WPH emergency centers. The company was founded in 1957 and is headquartered in Trang, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Wattanapat Hospital Trang Public Company reported revenue of 2.3B THB in FY2025 versus 1.2B THB in FY2021, a compound +17.4%/yr. Reported net income was 352M THB in FY2025, compounding +10.9%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.3B THB
Latest YoY
+14.6%
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.
+26.7%
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.
+27.0%
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.
+16.6%
Revenue +17.4%/yr
FY21 1.2B THB
FY22 1.1B THB
FY23 1.5B THB
FY24 2.0B THB
FY25 2.3B THB
Net income +10.9%/yr
FY21 232M THB
FY22 116M THB
FY23 92.9M THB
FY24 279M THB
FY25 352M THB
Character of growth · EPS growth decomposed (2015-2025) +15.4 % p.a.
Revenue per share +14.1 pp

of which total revenue +17.0 pp · buybacks/dilution −2.9 pp

EBIT margin +3.3 pp
Tax rate −1.9 pp
Residual (interest, one-offs) −0.2 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). "Wattanapat Hospital Trang Public Company Fair Value". https://www.fairvalue-calculator.com/stock/WPH

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 43 · Bottom 25%
Fair Value upside +47% · Top 25%
Return on equity (TTM) 18% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 28% · Top 25%
Revenue growth 10% · Above median
Dividend yield (TTM) 1.4% · Below median
Debt / equity 0.51× · Higher than 75% of peers

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 11.2× · Cheaper than 75% of peers
P/B 2.11× · Pricier than median
P/S (TTM) 1.68× · Pricier than median
EV/EBITDA 7.9× · 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 96 · sector 23
FUTURE 52 · sector 24
PAST 72 · sector 30
HEALTH 75 · sector 90
DIVIDEND 28 · sector 38

Insider activity: 40/100

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 Wattanapat Hospital Trang Public Company (WPH) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 9.03 THB versus a price of 6.15 THB, about +47% (undervalued).
What is the fair value of WPH?
Our model-based fair value for Wattanapat Hospital Trang Public Company is 9.03 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 6.15 THB.
What is the quality score of WPH?
Wattanapat Hospital Trang Public Company has a Quality Score of 43/100. 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 Wattanapat Hospital Trang Public Company (WPH)?
Wattanapat Hospital Trang Public Company reported trailing-twelve-month revenue of about 2.4B THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of WPH?
The net profit margin of Wattanapat Hospital Trang Public Company is about 14.9%, meaning it keeps roughly 14.9% of revenue as net income. Based on the latest reported figures.
Does Wattanapat Hospital Trang Public Company pay a dividend?
Wattanapat Hospital Trang Public Company currently shows a dividend yield of about 1.38% 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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