Ramkhamhaeng Hospital Future Growth

Future criteria checks 2/6

Ramkhamhaeng Hospital is forecast to grow earnings and revenue by 16.2% and 8.3% per annum respectively. EPS is expected to grow by 16.1% per annum. Return on equity is forecast to be 8.8% in 3 years.

Key information

16.2%

Earnings growth rate

16.1%

EPS growth rate

Healthcare earnings growth	10.1%
Revenue growth rate	8.3%
Future return on equity	8.8%
Analyst coverage	Low
Last updated	25 Nov 2024

Recent future growth updates

Recent updates

Earnings and Revenue Growth Forecasts

SET:RAM - Analysts future estimates and past financials data (THB Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	11,659	1,808	1,435	2,995	3
12/31/2025	10,878	1,611	1,557	3,349	3
12/31/2024	9,739	1,288	80	2,096	2
9/30/2024	9,796	1,292	135	2,075	N/A
6/30/2024	9,630	1,433	216	2,188	N/A
3/31/2024	9,759	1,627	41	2,545	N/A
12/31/2023	9,634	1,551	-275	2,437	N/A
9/30/2023	9,660	1,515	-641	2,112	N/A
6/30/2023	9,834	1,648	-503	2,120	N/A
3/31/2023	9,953	1,722	-713	1,666	N/A
12/31/2022	10,687	2,174	603	2,404	N/A
9/30/2022	11,484	3,563	2,269	3,548	N/A
6/30/2022	13,515	4,596	2,274	3,351	N/A
3/31/2022	13,473	4,552	3,151	3,814	N/A
12/31/2021	12,664	4,171	2,401	3,146	N/A
9/30/2021	11,688	2,807	1,088	1,798	N/A
6/30/2021	8,725	1,088	832	1,512	N/A
3/31/2021	7,902	511	187	1,131	N/A
12/31/2020	7,826	1,271	-28	895	N/A
9/30/2020	6,725	1,043	-196	678	N/A
6/30/2020	6,196	1,824	-136	627	N/A
3/31/2020	5,503	2,180	110	522	N/A
12/31/2019	4,448	1,436	318	576	N/A
9/30/2019	4,354	1,889	418	642	N/A
6/30/2019	4,254	1,818	447	688	N/A
3/31/2019	4,180	1,865	273	823	N/A
12/31/2018	4,111	1,863	180	873	N/A
9/30/2018	4,051	1,560	262	947	N/A
6/30/2018	3,976	1,406	N/A	967	N/A
3/31/2018	3,948	1,484	N/A	955	N/A
12/31/2017	3,810	1,327	N/A	843	N/A
9/30/2017	3,808	1,325	N/A	783	N/A
6/30/2017	3,749	1,226	N/A	740	N/A
3/31/2017	3,695	1,081	N/A	811	N/A
12/31/2016	3,806	1,138	N/A	869	N/A
9/30/2016	3,746	1,149	N/A	855	N/A
6/30/2016	3,617	1,053	N/A	782	N/A
3/31/2016	3,545	1,056	N/A	797	N/A
12/31/2015	3,394	1,018	N/A	740	N/A
9/30/2015	3,344	904	N/A	669	N/A
6/30/2015	3,326	1,047	N/A	739	N/A
3/31/2015	3,287	985	N/A	725	N/A
12/31/2014	3,290	1,010	N/A	735	N/A
9/30/2014	3,210	1,000	N/A	698	N/A
6/30/2014	3,210	752	N/A	567	N/A
3/31/2014	3,173	783	N/A	423	N/A
12/31/2013	3,095	884	N/A	408	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: RAM's forecast earnings growth (16.2% per year) is above the savings rate (2%).

Earnings vs Market: RAM's earnings (16.2% per year) are forecast to grow slower than the TH market (17.9% per year).

High Growth Earnings: RAM's earnings are forecast to grow, but not significantly.

Revenue vs Market: RAM's revenue (8.3% per year) is forecast to grow faster than the TH market (6.9% per year).

High Growth Revenue: RAM's revenue (8.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: RAM's Return on Equity is forecast to be low in 3 years time (8.8%).

Ramkhamhaeng Hospital Future Growth

Future criteria checks 2/6

Key information

Recent future growth updates

Consensus EPS estimates fall by 15%

Consensus EPS estimates fall by 13%

Consensus revenue estimates fall by 23%

Price target decreased by 14% to ฿49.25

Consensus EPS estimates fall by 12%

Price target increased to ฿57.50

Recent updates

Now 21% overvalued

Second quarter dividend of ฿0.20 announced

Now 21% overvalued

Second quarter 2024 earnings released: EPS: ฿0.24 (vs ฿0.40 in 2Q 2023)

First quarter dividend of ฿0.20 announced

Ramkhamhaeng Hospital Public Company Limited Announces Cash Dividend, Payable 30 August 2024

First quarter 2024 earnings released: EPS: ฿0.29 (vs ฿0.22 in 1Q 2023)

Ramkhamhaeng Hospital Public Company Limited Elects Benny Lim as Director

Ramkhamhaeng Hospital Public Company Limited Announces Executive Changes

Upcoming dividend of ฿0.20 per share

Fourth quarter dividend of ฿0.20 announced

Ramkhamhaeng Hospital Public Company Limited, Annual General Meeting, Apr 30, 2024

New minor risk - Earnings quality

Full year 2023 earnings: EPS misses analyst expectations

Upcoming dividend of ฿0.20 per share at 3.6% yield

Ramkhamhaeng Hospital Public Company Limited Announces Interim Dividend Payment, Payable on 29 February 2024

Consensus EPS estimates fall by 15%

Ramkhamhaeng Hospital Public Company Limited (SET:RAM) agreed to acquire additional 7.56% stake in Ramnakra Co.,Ltd. for approximately THB 340 million.

Now 21% undervalued after recent price drop

Third quarter 2023 earnings: EPS and revenues miss analyst expectations

Upcoming dividend of ฿0.20 per share at 2.9% yield

Ramkhamhaeng Hospital Public Company Limited Announces Interim Dividend Payment, Payable on 30 November 2023

Ramkhamhaeng Hospital Public Company Limited Announces Interim Dividend Payment, Payable on 30 November 2023

Consensus EPS estimates fall by 13%

Second quarter 2023 earnings released: EPS: ฿0.40 (vs ฿0.40 in 2Q 2022)

Ramkhamhaeng Hospital Public Company Limited Announces Cash Dividend, Payable on August 25, 2023

Ramkhamhaeng Hospital Public Company Limited Announces Chief Financial Officer Changes, Effective August 1, 2023

Ramkhamhaeng Hospital Public Company Limited announced that it has received THB 129.6 million in funding from Chiang Mai Ram Medical Business Public Company Limited

Consensus revenue estimates fall by 23%

Price target decreased by 14% to ฿49.25

First quarter 2023 earnings released: EPS: ฿0.22 (vs ฿0.59 in 1Q 2022)

Consensus EPS estimates fall by 12%

Upcoming dividend of ฿0.30 per share at 2.3% yield

Full year 2022 earnings: Revenues miss analyst expectations

Upcoming dividend of ฿0.30 per share at 1.8% yield

Ramkhamhaeng Hospital Public Company Limited Announces Interim Cash Dividend, Payable on February 24, 2023

Third quarter 2022 earnings: EPS exceeds analyst expectations

Less than half of directors are independent

Upcoming dividend of ฿0.25 per share

Ramkhamhaeng Hospital Public Company Limited (SET:RAM) agreed to buy additional 32.45% shares in Nan-Ram Co.,Ltd from group of sellers for THB 260 million.

Ramkhamhaeng Hospital Public Company Limited Announces Interim Cash Dividend, Payable on November 25, 2022

Second quarter 2022 earnings released: EPS: ฿0.40 (vs ฿0.42 in 2Q 2021)

Price target increased to ฿57.50

Upcoming dividend of ฿0.25 per share

Ramkhamhaeng Hospital Public Company Limited Announces Interim Cash Dividend, Payable on 26 August 2022

Investor sentiment improved over the past week

Price target increased to ฿52.00

Less than half of directors are independent

Ramkhamhaeng Hospital Public Company Limited, Annual General Meeting, Apr 27, 2022

Investor sentiment improved over the past week

Consensus EPS estimates increase by 13%

Upcoming dividend of ฿0.20 per share

Investor sentiment improved over the past week

Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind

Upcoming dividend of ฿0.20 per share

Ramkhamhaeng Hospital Public Company Limited Announces Interim Cash Dividend, Payable on February 25, 2022

Third quarter 2021 earnings released: EPS ฿1.37 (vs ฿0.09 in 3Q 2020)

Upcoming dividend of ฿0.90 per share

Second quarter 2021 earnings released: EPS ฿2.10 (vs ฿0.076 loss in 2Q 2020)

Upcoming dividend of ฿0.90 per share

First quarter 2021 earnings released

Upcoming dividend of ฿0.90 per share

Full year 2020 earnings released: EPS ฿2.63 (vs ฿6.00 in FY 2019)

New 90-day high: ฿142

Upcoming Dividend of ฿0.90 Per Share

Ramkhamhaeng Hospital Public Company Limited (SET:RAM) agree to acquire 9.53% stake in Ramnakara Co. Ltd from Synphaet Hospita, Seriruk Hospital, F&S 79 Co and Talit Cheun-Im for approximately THB 240 million

New 90-day high: ฿142

New 90-day low: ฿138

Ramkhamhaeng Hospital Public Company Limited (SET:RAM) agreed to acquire an additional 11.3% stake in Ramnakara Co.,Ltd. for approximately THB 280 million.