Company Valuation: Ramkhamhaeng Hospital

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 47,700 64,500 43,200 27,120 22,080 21,120 - -
Change - 35.22% -33.02% -37.22% -18.58% -4.35% - -
Enterprise Value (EV) 1 47,700 64,500 52,149 36,730 37,453 35,149 35,167 35,106
Change - 35.22% -19.15% -29.57% 1.97% -6.15% 0.05% -0.17%
P/E 11.4x 30.9x 27.9x 37x 7.9x 18.1x 15.4x 14.1x
PBR 2.78x 3.33x 2.33x 1.01x 1.01x 0.94x 0.91x 0.89x
PEG - -0.6x -1.1x -0.7x 0x -0.3x 0.9x 1.61x
Capitalization / Revenue 3.77x 6.75x 4.48x 3.02x 1.5x 0.95x 0.93x 0.9x
EV / Revenue 3.77x 6.75x 5.41x 4.1x 2.54x 1.57x 1.55x 1.5x
EV / EBITDA 6.76x 23x 31.6x 19x 13.8x 12x 10x 9.41x
EV / EBIT 7.86x 35.7x 84.9x 41.1x 30.6x 25.5x 19.2x 17.9x
EV / FCF 19.8x - -201x -1,032x 35.3x 18.1x 31.4x 29.5x
FCF Yield 5.06% - -0.5% -0.1% 2.83% 5.52% 3.19% 3.39%
Dividend per Share 2 0.76 1.1 - - 0.1 0.5 0.64 0.67
Rate of return 1.91% 2.05% - - 0.54% 2.84% 3.64% 3.81%
EPS 2 3.49 1.74 1.29 0.61 2.33 0.97 1.145 1.245
Distribution rate 21.8% 63.2% - - 4.29% 51.5% 55.9% 53.8%
Net sales 1 12,664 9,561 9,634 8,965 14,752 22,329 22,686 23,370
EBITDA 1 7,054 2,805 1,650 1,932 2,711 2,935 3,505 3,732
EBIT 1 6,068 1,807 614.3 894.6 1,224 1,379 1,829 1,966
Net income 1 4,193 2,088 1,551 727.8 2,798 1,166 1,374 1,492
Net Debt 1 - - 8,949 9,610 15,373 14,029 14,047 13,986
Reference price 2 39.75 53.75 36.00 22.60 18.40 17.60 17.60 17.60
Nbr of stocks (in thousands) 12,00,000 12,00,000 12,00,000 12,00,000 12,00,000 12,00,000 - -
Announcement Date 01/03/22 02/03/23 01/03/24 03/03/25 02/03/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.32x0.42x8.87x2.74% 12TCr
13.58x1.74x8.71x0.77% 8.86TCr
13.65x1.5x9.01x2.62% 2.9TCr
23.7x2.63x13.35x1.37% 2.64TCr
31.79x5.73x23.86x2.19% 2.15TCr
7.85x1.41x6.43x-.--% 2.12TCr
17.11x1.57x7.95x4.63% 1.6TCr
13.56x0.99x5.56x3.63% 1.19TCr
12.31x1.57x7.63x0.93% 1.16TCr
Average 16.43x 1.95x 10.15x 2.1% 3.89TCr
Weighted average by Cap. 15.50x 1.51x 9.75x 1.98%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  3. RAM Stock
  4. RAM-R Stock
  5. Valuation Ramkhamhaeng Hospital