Bumrungrad Hospital Public Company Limited

SET:BH Stock Report

Market Cap: ฿153.8b

Bumrungrad Hospital Valuation

Is BH undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BH (THB193.5) is trading below our estimate of fair value (THB236.97)

Significantly Below Fair Value: BH is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BH?

Key metric: As BH is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BH. This is calculated by dividing BH's market cap by their current earnings.
What is BH's PE Ratio?
PE Ratio20.3x
Earnings฿7.59b
Market Cap฿153.82b

Price to Earnings Ratio vs Peers

How does BH's PE Ratio compare to its peers?

The above table shows the PE ratio for BH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average26.8x
BDMS Bangkok Dusit Medical Services
23.9x7.6%฿373.5b
VIBHA Vibhavadi Medical Center
25.2x11.8%฿25.8b
PR9 Praram 9 Hospital
29.2x12.0%฿20.2b
MASTER Master Style
28.9x18.0%฿13.5b
BH Bumrungrad Hospital
20.3x3.2%฿153.8b

Price-To-Earnings vs Peers: BH is good value based on its Price-To-Earnings Ratio (20.3x) compared to the peer average (26.8x).

Price to Earnings Ratio vs Industry

How does BH's PE Ratio compare vs other companies in the TH Healthcare Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
BH 20.3xIndustry Avg. 20.5xNo. of Companies8PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BH is good value based on its Price-To-Earnings Ratio (20.3x) compared to the TH Healthcare industry average (20.5x).

Price to Earnings Ratio vs Fair Ratio

What is BH's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.3x
Fair PE Ratio25.6x

Price-To-Earnings vs Fair Ratio: BH is good value based on its Price-To-Earnings Ratio (20.3x) compared to the estimated Fair Price-To-Earnings Ratio (25.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BH forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿193.50
฿274.24
+41.7%
10.8%฿330.00฿220.00n/a21
Dec ’25฿208.00
฿274.14
+31.8%
10.9%฿330.00฿220.00n/a21
Nov ’25฿269.00
฿298.57
+11.0%
5.7%฿330.00฿250.00n/a21
Oct ’25฿271.00
฿297.14
+9.6%
5.8%฿330.00฿250.00n/a21
Sep ’25฿245.00
฿292.05
+19.2%
7.5%฿330.00฿235.00n/a21
Aug ’25฿247.00
฿290.40
+17.6%
7.9%฿330.00฿235.00n/a20
Jul ’25฿244.00
฿291.30
+19.4%
6.5%฿316.00฿243.00n/a20
Jun ’25฿242.00
฿290.32
+20.0%
6.5%฿316.00฿243.00n/a19
May ’25฿245.00
฿285.74
+16.6%
6.7%฿313.00฿243.00n/a19
Apr ’25฿226.00
฿285.78
+26.5%
6.6%฿313.00฿245.00n/a18
Mar ’25฿226.00
฿284.50
+25.9%
5.1%฿313.00฿255.00n/a18
Feb ’25฿240.00
฿288.62
+20.3%
4.7%฿320.00฿270.00n/a18
Jan ’25฿222.00
฿280.59
+26.4%
8.7%฿320.00฿220.00n/a19
Dec ’24฿221.00
฿280.59
+27.0%
8.7%฿320.00฿220.00฿208.0019
Nov ’24฿260.00
฿283.23
+8.9%
8.7%฿320.00฿220.00฿269.0019
Oct ’24฿268.00
฿275.72
+2.9%
10.4%฿320.00฿220.00฿271.0017
Sep ’24฿255.00
฿275.84
+8.2%
10.1%฿320.00฿220.00฿245.0018
Aug ’24฿216.00
฿250.77
+16.1%
9.3%฿282.00฿200.00฿247.0017
Jul ’24฿226.00
฿250.77
+11.0%
9.3%฿282.00฿200.00฿244.0017
Jun ’24฿227.00
฿247.39
+9.0%
10.7%฿282.00฿190.00฿242.0018
May ’24฿238.00
฿242.39
+1.8%
10.1%฿280.00฿190.00฿245.0018
Apr ’24฿226.00
฿231.44
+2.4%
12.1%฿271.00฿170.00฿226.0018
Mar ’24฿211.00
฿230.11
+9.1%
12.4%฿271.00฿170.00฿226.0018
Feb ’24฿219.00
฿221.58
+1.2%
13.8%฿270.00฿170.00฿240.0019
Jan ’24฿212.00
฿218.58
+3.1%
14.5%฿270.00฿170.00฿222.0019
Dec ’23฿219.00
฿216.20
-1.3%
14.6%฿270.00฿170.00฿221.0020

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 09:09
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Bumrungrad Hospital Public Company Limited is covered by 50 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kawee ManitsupavongAsia Plus Securities Company Limited
Weiyee InBNP Paribas Securities (Asia)
Chutima WoramontriBNP Paribas Securities (Asia)