Ramkhamhaeng Hospital Public Company Limited

SET:RAM Stock Report

Market Cap: ฿26.8b

Ramkhamhaeng Hospital Valuation

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

Valuation Score

4/6

Valuation Score 4/6

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

Discounted Cash Flow
Simply Wall St
฿25.98
Fair Value
14.2% undervalued intrinsic discount
3
Number of Analysts

Below Fair Value: RAM (THB22.3) is trading below our estimate of fair value (THB25.98)

Significantly Below Fair Value: RAM 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 RAM?

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

The above table shows the Price to Earnings ratio for RAM. This is calculated by dividing RAM's market cap by their current earnings.
What is RAM's PE Ratio?
PE Ratio20.7x
Earnings฿1.29b
Market Cap฿26.76b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for RAM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average23.6x
CHG Chularat Hospital
22.4x9.4%฿25.7b
VIBHA Vibhavadi Medical Center
25.3x11.8%฿25.9b
SKR Sikarin
21.9xn/a฿18.5b
BCH Bangkok Chain Hospital
24.7x12.3%฿36.4b
RAM Ramkhamhaeng Hospital
20.7x16.2%฿26.8b

Price-To-Earnings vs Peers: RAM is good value based on its Price-To-Earnings Ratio (20.7x) compared to the peer average (23.6x).

Price to Earnings Ratio vs Industry

How does RAM'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
RAM 20.7xIndustry Avg. 21.3xNo. of Companies6PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: RAM is good value based on its Price-To-Earnings Ratio (20.7x) compared to the TH Healthcare industry average (21.3x).

Price to Earnings Ratio vs Fair Ratio

What is RAM'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.

RAM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.7x
Fair PE Ratio25.9x

Price-To-Earnings vs Fair Ratio: RAM is good value based on its Price-To-Earnings Ratio (20.7x) compared to the estimated Fair Price-To-Earnings Ratio (25.9x).

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 RAM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿22.30
฿29.67
+33.0%
34.2%฿44.00฿22.00n/a3
Jan ’26฿22.60
฿29.67
+31.3%
34.2%฿44.00฿22.00n/a3
Dec ’25฿23.30
฿29.67
+27.3%
34.2%฿44.00฿22.00n/a3
Nov ’25฿23.50
฿32.33
+37.6%
27.0%฿44.00฿23.00n/a3
Oct ’25฿23.80
฿32.33
+35.9%
27.0%฿44.00฿23.00n/a3
Sep ’25฿28.00
฿33.67
+20.2%
22.0%฿44.00฿27.00n/a3
Aug ’25฿28.50
฿33.67
+18.1%
22.0%฿44.00฿27.00n/a3
Jul ’25฿30.50
฿33.67
+10.4%
22.0%฿44.00฿27.00n/a3
Jun ’25฿30.25
฿34.33
+13.5%
24.3%฿46.00฿27.00n/a3
May ’25฿31.25
฿34.33
+9.9%
24.3%฿46.00฿27.00n/a3
Apr ’25฿31.50
฿34.33
+9.0%
24.3%฿46.00฿27.00n/a3
Mar ’25฿29.25
฿38.50
+31.6%
24.4%฿50.00฿27.00n/a3
Feb ’25฿32.50
฿38.50
+18.5%
24.4%฿50.00฿27.00n/a3
Jan ’25฿36.00
฿44.25
+22.9%
13.0%฿50.00฿38.50฿22.602
Dec ’24฿34.00
฿49.25
+44.9%
21.8%฿60.00฿38.50฿23.302
Nov ’24฿40.75
฿49.25
+20.9%
21.8%฿60.00฿38.50฿23.502
Oct ’24฿41.25
฿49.25
+19.4%
21.8%฿60.00฿38.50฿23.802
Sep ’24฿43.25
฿49.25
+13.9%
21.8%฿60.00฿38.50฿28.002
Aug ’24฿41.25
฿49.25
+19.4%
21.8%฿60.00฿38.50฿28.502
Jul ’24฿42.00
฿49.25
+17.3%
21.8%฿60.00฿38.50฿30.502
Jun ’24฿46.00
฿53.50
+16.3%
12.1%฿60.00฿47.00฿30.252
May ’24฿53.00
฿53.50
+0.9%
12.1%฿60.00฿47.00฿31.252
Apr ’24฿53.25
฿57.00
+7.0%
8.8%฿62.00฿52.00฿31.502
Mar ’24฿56.00
฿57.00
+1.8%
8.8%฿62.00฿52.00฿29.252
Feb ’24฿54.00
฿57.00
+5.6%
8.8%฿62.00฿52.00฿32.502
Jan ’24฿53.75
฿57.00
+6.0%
8.8%฿62.00฿52.00฿36.002
Analyst Price Target
Consensus Narrative from 3 Analysts
฿29.67
Fair Value
24.8% undervalued intrinsic discount
3
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/10 19:12
End of Day Share Price 2025/01/10 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

Ramkhamhaeng Hospital Public Company Limited is covered by 4 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kasem PrunratanamalaCGS International
Teerapol UdomvejFSS International Advisory
Monchai MokaranuraksaTisco Securities Co. Ltd.