Praram 9 Hospital Public Company Limited

SET:PR9 Stock Report

Market Cap: ฿20.1b

Praram 9 Hospital Valuation

Is PR9 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 PR9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PR9 (THB25.5) is trading below our estimate of fair value (THB30.07)

Significantly Below Fair Value: PR9 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 PR9?

Key metric: As PR9 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PR9. This is calculated by dividing PR9's market cap by their current earnings.
What is PR9's PE Ratio?
PE Ratio28.9x
Earnings฿694.15m
Market Cap฿20.05b

Price to Earnings Ratio vs Peers

How does PR9's PE Ratio compare to its peers?

The above table shows the PE ratio for PR9 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average24.2x
SKR Sikarin
22.9xn/a฿19.3b
VIBHA Vibhavadi Medical Center
27.4x11.8%฿28.0b
MASTER Master Style
27.3x17.7%฿12.7b
RAM Ramkhamhaeng Hospital
19.3x10.3%฿27.6b
PR9 Praram 9 Hospital
28.9x11.4%฿20.1b

Price-To-Earnings vs Peers: PR9 is expensive based on its Price-To-Earnings Ratio (28.9x) compared to the peer average (24.2x).

Price to Earnings Ratio vs Industry

How does PR9'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
PR9 28.9xIndustry Avg. 22.0xNo. of Companies7PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PR9 is expensive based on its Price-To-Earnings Ratio (28.9x) compared to the TH Healthcare industry average (22x).

Price to Earnings Ratio vs Fair Ratio

What is PR9'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.

PR9 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio28.9x
Fair PE Ratio23.3x

Price-To-Earnings vs Fair Ratio: PR9 is expensive based on its Price-To-Earnings Ratio (28.9x) compared to the estimated Fair Price-To-Earnings Ratio (23.3x).

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 PR9 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿25.50
฿27.86
+9.3%
4.7%฿29.60฿26.00n/a7
Nov ’25฿24.20
฿24.66
+1.9%
8.0%฿27.00฿21.70n/a7
Oct ’25฿22.00
฿23.73
+7.9%
7.3%฿27.00฿21.70n/a7
Sep ’25฿18.80
฿23.01
+22.4%
4.0%฿24.50฿21.70n/a7
Aug ’25฿17.40
฿22.87
+31.4%
3.2%฿24.00฿21.70n/a7
Jul ’25฿17.50
฿22.87
+30.7%
3.2%฿24.00฿21.70n/a7
Jun ’25฿19.20
฿22.87
+19.1%
3.2%฿24.00฿21.70n/a7
May ’25฿19.40
฿22.06
+13.7%
5.7%฿24.00฿20.00n/a7
Apr ’25฿19.10
฿20.91
+9.5%
6.1%฿23.00฿19.00n/a7
Mar ’25฿19.00
฿20.91
+10.1%
6.1%฿23.00฿19.00n/a7
Feb ’25฿17.50
฿21.09
+20.5%
12.4%฿27.00฿19.00n/a7
Jan ’25฿16.00
฿19.50
+21.9%
6.5%฿22.00฿18.00n/a6
Dec ’24฿15.50
฿19.50
+25.8%
6.5%฿22.00฿18.00n/a6
Nov ’24฿15.80
฿21.17
+34.0%
5.8%฿22.70฿19.00฿24.206
Oct ’24฿17.20
฿21.17
+23.1%
5.8%฿22.70฿19.00฿22.006
Sep ’24฿17.40
฿21.17
+21.6%
5.8%฿22.70฿19.00฿18.806
Aug ’24฿18.30
฿21.63
+18.2%
6.9%฿23.60฿19.00฿17.406
Jul ’24฿17.70
฿21.87
+23.5%
7.9%฿24.10฿19.00฿17.506
Jun ’24฿17.70
฿21.87
+23.5%
7.9%฿24.10฿19.00฿19.206
May ’24฿19.50
฿22.44
+15.1%
8.3%฿24.10฿19.00฿19.405
Apr ’24฿20.80
฿22.44
+7.9%
8.3%฿24.10฿19.00฿19.105
Mar ’24฿20.10
฿22.14
+10.1%
7.7%฿24.10฿19.00฿19.005
Feb ’24฿20.30
฿20.68
+1.9%
7.5%฿23.00฿19.00฿17.505
Jan ’24฿16.90
฿19.88
+17.6%
3.4%฿21.00฿19.00฿16.005
Dec ’23฿18.00
฿19.88
+10.4%
3.4%฿21.00฿19.00฿15.505
Nov ’23฿18.00
฿19.25
+6.9%
5.9%฿21.00฿17.75฿15.805

Analyst Forecast: Target price is less than 20% higher than the current share price.

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