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 21,480 - -
Change - 35.22% -33.02% -37.22% -18.58% -2.72% - -
Enterprise Value (EV) 1 47,700 64,500 52,149 36,730 37,453 35,165 34,853 34,453
Change - 35.22% -19.15% -29.57% 1.97% -6.11% -0.89% -1.15%
P/E 11.4x 30.9x 27.9x 37x 7.9x 16.1x 15x 13.9x
PBR 2.78x 3.33x 2.33x 1.01x 1.01x 0.96x 0.93x 0.9x
PEG - -0.6x -1.1x -0.7x 0x -0.3x 2.09x 1.75x
Capitalization / Revenue 3.77x 6.75x 4.48x 3.02x 1.5x 0.97x 0.94x 0.92x
EV / Revenue 3.77x 6.75x 5.41x 4.1x 2.54x 1.59x 1.53x 1.47x
EV / EBITDA 6.76x 23x 31.6x 19x 13.8x 9.9x 9.27x 8.63x
EV / EBIT 7.86x 35.7x 84.9x 41.1x 30.6x 18x 16.7x 15.5x
EV / FCF 19.8x - -201x -1,032x 35.3x 13.9x 29.6x 27.6x
FCF Yield 5.06% - -0.5% -0.1% 2.83% 7.19% 3.38% 3.62%
Dividend per Share 2 0.76 1.1 - - 0.1 0.625 0.64 0.67
Rate of return 1.91% 2.05% - - 0.54% 3.49% 3.58% 3.74%
EPS 2 3.49 1.74 1.29 0.61 2.33 1.115 1.195 1.29
Distribution rate 21.8% 63.2% - - 4.29% 56.1% 53.6% 51.9%
Net sales 1 12,664 9,561 9,634 8,965 14,752 22,078 22,750 23,450
EBITDA 1 7,054 2,805 1,650 1,932 2,711 3,552 3,758 3,994
EBIT 1 6,068 1,807 614.3 894.6 1,224 1,956 2,082 2,228
Net income 1 4,193 2,088 1,551 727.8 2,798 1,342 1,430 1,546
Net Debt 1 - - 8,949 9,610 15,373 13,685 13,373 12,973
Reference price 2 39.75 53.75 36.00 22.60 18.40 17.90 17.90 17.90
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.05x1.59x9.9x3.49% 64Cr
17.14x0.47x10.21x2.47% 14TCr
12.39x1.64x8.14x0.84% 8.23TCr
12.47x1.43x8.67x2.72% 2.69TCr
21.92x2.39x12.04x1.52% 2.33TCr
29.28x5.42x22.79x2.34% 2TCr
7.72x1.23x5.82x-.--% 1.68TCr
15.93x1.49x7.59x4.45% 1.54TCr
16.21x1.85x8.87x0.7% 1.52TCr
14.18x1.04x5.85x3.26% 1.28TCr
Average 16.33x 1.85x 9.99x 2.18% 3.51TCr
Weighted average by Cap. 16.03x 1.39x 9.90x 1.96%

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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