Chularat Hospital Public Company Limited

SET:CHG Stock Report

Market Cap: ฿29.5b

Chularat Hospital Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • 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 CHG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CHG (THB2.6) is trading above our estimate of fair value (THB2.41)

Significantly Below Fair Value: CHG is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for CHG. This is calculated by dividing CHG's market cap by their current earnings.
What is CHG's PE Ratio?
PE Ratio24.9x
Earnings฿1.15b
Market Cap฿29.48b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for CHG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average24.1x
RAM Ramkhamhaeng Hospital
19.3x10.3%฿27.6b
BCH Bangkok Chain Hospital
26.7x13.5%฿39.4b
VIBHA Vibhavadi Medical Center
27.4x11.8%฿28.0b
SKR Sikarin
22.9xn/a฿19.3b
CHG Chularat Hospital
24.9x10.1%฿28.6b

Price-To-Earnings vs Peers: CHG is expensive based on its Price-To-Earnings Ratio (24.9x) compared to the peer average (24.1x).

Price to Earnings Ratio vs Industry

How does CHG'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
CHG 24.9xIndustry Avg. 22.0xNo. of Companies7PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CHG is expensive based on its Price-To-Earnings Ratio (24.9x) compared to the TH Healthcare industry average (22x).

Price to Earnings Ratio vs Fair Ratio

What is CHG'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.

CHG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.9x
Fair PE Ratio24x

Price-To-Earnings vs Fair Ratio: CHG is expensive based on its Price-To-Earnings Ratio (24.9x) compared to the estimated Fair Price-To-Earnings Ratio (23.9x).

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 CHG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿2.60
฿3.32
+27.5%
7.7%฿3.80฿3.00n/a10
Nov ’25฿2.90
฿3.32
+14.3%
7.7%฿3.80฿3.00n/a10
Oct ’25฿2.74
฿3.25
+18.7%
7.1%฿3.60฿3.00n/a9
Sep ’25฿2.56
฿3.27
+27.6%
8.3%฿3.70฿2.93n/a9
Aug ’25฿2.48
฿3.37
+36.0%
11.4%฿3.90฿2.70n/a9
Jul ’25฿2.56
฿3.33
+30.2%
13.8%฿3.90฿2.50n/a10
Jun ’25฿2.94
฿3.33
+13.4%
13.8%฿3.90฿2.50n/a10
May ’25฿2.90
฿3.35
+15.4%
13.1%฿3.90฿2.50n/a10
Apr ’25฿2.94
฿3.35
+13.9%
13.1%฿3.90฿2.50n/a10
Mar ’25฿2.96
฿3.38
+14.1%
13.4%฿3.90฿2.50n/a10
Feb ’25฿3.02
฿3.43
+13.7%
12.8%฿3.90฿2.50n/a11
Jan ’25฿3.14
฿3.42
+8.8%
13.8%฿4.00฿2.50n/a12
Dec ’24฿2.88
฿3.41
+18.4%
13.7%฿4.00฿2.50n/a12
Nov ’24฿3.14
฿3.50
+11.6%
10.9%฿4.04฿2.55฿2.9012
Oct ’24฿3.26
฿3.59
+10.0%
12.6%฿4.40฿2.55฿2.7412
Sep ’24฿3.16
฿3.68
+16.4%
16.1%฿5.05฿2.55฿2.5613
Aug ’24฿2.90
฿3.79
+30.8%
14.6%฿5.05฿3.06฿2.4812
Jul ’24฿3.00
฿3.77
+25.7%
15.0%฿5.05฿3.06฿2.5612
Jun ’24฿3.16
฿3.90
+23.5%
14.7%฿5.05฿3.06฿2.9413
May ’24฿3.50
฿4.18
+19.4%
9.8%฿5.05฿3.40฿2.9013
Apr ’24฿3.62
฿4.15
+14.7%
10.0%฿5.05฿3.41฿2.9413
Mar ’24฿3.74
฿4.20
+12.4%
10.1%฿5.05฿3.60฿2.9613
Feb ’24฿4.00
฿4.21
+5.3%
11.0%฿5.05฿3.40฿3.0213
Jan ’24฿3.68
฿4.19
+13.9%
10.3%฿4.80฿3.40฿3.1413
Dec ’23฿3.68
฿4.28
+16.3%
11.1%฿5.00฿3.40฿2.8814
Nov ’23฿3.54
฿4.29
+21.1%
10.6%฿5.00฿3.40฿3.1414

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

Discover undervalued companies

Nonthavej Hospital

฿5.0b

Operates as a hospital in Thailand.

NTV

฿31.25

7D

-1.6%

1Y

-15.5%

Master Style

฿12.7b

Operates a cosmetic surgery hospital under the Masterpiece Hospital name in Thailand.

MASTER

฿42.25

7D

-8.2%

1Y

-7.1%

Safe Fertility Group

฿3.6b

Provides fertility medical center services in Thailand.

SAFE-R

฿12.00

7D

-0.8%

1Y

-33.0%